Here are the top reads on deals and financial services over the last 24 hours,
Why Prem Watsa sees value in Stelco: Stocks that are broadly exposed to economic activity are struggling right now amid widespread concerns that the global economy is sputtering. But wait, there’s hope for investors: Fairfax Financial Holdings Ltd. has grabbed a major stake in Stelco Holdings Inc., the steelmaker based in Hamilton, which suggests that wily institutional investors are perhaps seeing compelling value in cyclical stocks. Story (David Berman, for subscribers)
Hot market: PI Financial Corp. is selling itself for $100-million, extending a recent string of acquisitions in a hot market for independent asset managers. Story (Tim Kiladze, for subscribers)
MORE FINANCIAL SERVICES NEWS
Money laundering: The whistle-blower who revealed alleged money laundering involving Danske Bank said on Monday that a major European bank helped process up to $150-billion in suspicious payments, or nearly two-thirds of the transactions under scrutiny. Story (for subscribers)
MORE DEALS NEWS
Logistics: Canada Pension Plan Investment Board has committed the equivalent of $678-million to a partnership that will focus on developing modern logistics facilities in six EU countries. Story (for subscribers)
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