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Report on Business


Streetwise gives you news and analysis on Bay Street and the world of finance
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  (Joanna Wnuk/Getty Images/Hemera)


(Joanna Wnuk/Getty Images/Hemera)

Morning meeting: Poll confirms sleazy side of Wall Street Add to ...

Pop quiz: What percentage of high finance folks would engage in insider trading if they knew they could get away with it?

Think MF Global couldn’t happen again?
Futures brokerage firm PFGBest was shut down on Monday amid allegations of $200-million in unaccounted client funds and a suicide attempt by its founder.

Fed knew of Libor issue in 2007-08
Reuters is reporting that the Federal Reserve Bank of New York may have known as early as August 2007 that the setting of global benchmark interest rates was flawed.

Barclays' Agius gives up $30-million in bonuses
Settles for $3-million instead.

RIM puts business jet on the block
Bloomberg is reporting that Research In Motion is selling one of its two business jets in an effort to save $1-billion in operating costs.

U.S. drought pushes corn prices toward record high
Corn futures for July delivery are up 29 per cent over the past three weeks as the U.S. endures a punishing drought.

MFC Industrial buys Compton Petroleum
MFC Industrial Ltd. said on Monday it has agreed to buy Compton Petroleum Corp. for about $33-million, a deal that rescues the Canadian oil and gas producer that has been struggling with weak natural gas prices.

Hawker Beechcraft in discussions with Chinese firm in $1.79-billion deal
The aircraft manufacturer has entered an exclusivity agreement with Superior Aviation Beijing Co.

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