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Streetwise gives you news and analysis on Bay Street and the world of finance
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(TEH ENG KOON/Teh Eng Koon/AFP/Getty Images)
(TEH ENG KOON/Teh Eng Koon/AFP/Getty Images)

Morning Meeting: Sinopec and Repsol love-in continues Add to ...

A look at some must-read news on deals and deal makers around the world

Repsol and Sinopec eye further oil ventures

Repsol and Sinopec, which did a $7.1-billion transaction last year in Brazil (which was set up by Canadian advisory firm Scotia Waterous), are now looking at more joint deals around the world. In a statement, Repsol and Sinopec said that since their first date, they've discovered they have a lot in common and want to spend more time together.

"We are committed to making every effort to consolidate and develop this relationship with Repsol in the future," Sinopec chairman Su Shulin said in a statement.

That's got to be good news for Scotia, which put the companies together when Repsol was looking for money to develop Brazilian assets.

World food prices set record

One for the good-news/bad-news file. For those selling food (and owning shares in agriculture companies), this is a boon. For those of us who buy food, not so much. Food prices set a record in December, according to the United Nations. Here's the story, courtesy of Bloomberg News.

Communism, meet capitalism

The Communist Party news website in China is looking at an initial public offering. We're not making this up. It's in the New York Times.

PCL solves its Facebook problem

PCL Constructors, one of Canada's biggest builders, has a unique ownership model that straddles public and private. It also meant that the firm faced the same issues that Facebook is struggling with -- you're private, but with enough investors that you have to disclose your finances publicly. The Globe's Gordon Pitts looks at how PCL fixed the problem.

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