Bank towers are shown from Bay Street in Toronto's financial district, on Wednesday, June 16, 2010. Federal MPs are hearing from Canada's big banks as a parliamentary committee explores allegations of questionable sales practices at major financial institutions. THE CANADIAN PRESS/Adrien VeczanThe Canadian Press
Former Dragons' Den star Dickinson announces her venture-capital team
Former Dragons' Den star Arlene Dickinson has put together a team of veteran finance and marketing experts to join her at District Ventures Capital, the venture-capital fund she started to invest in consumer-packaged goods in the food, beverage and health space. Story (Joyita Sengupta)
RBC cutting 450 jobs amid head office reshuffle
Royal Bank of Canada is laying off about 450 staff as the bank undertakes a wider reshuffling of its head offices in the Toronto area. Story (James Bradshaw)
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ON THE MOVE
Canadian Imperial Bank of Commerce is reshuffling capital markets staff on both sides of the border, as part of broader changes at the bank that will see more than 40 executives take on new roles. Story (Christina Pellegrini)
CIBC World Markets has hired energy analyst Jamie Kubik to cover small- and mid-cap producers in Calgary. Story (Christina Pellegrini)
DAILY DEALS
Diageo Plc has agreed to buy George Clooney's high-end tequila brand Casamigos in a deal valuing it at up to $1-billion, as the world's largest spirits maker seeks to boost its presence in a high-growth market. Story (Reuters)
U.S. motorcycle maker Harley-Davidson is lining up a takeover bid for Italian rival Ducati, potentially bringing together two of the most famous names in motorcycling in a deal that could be worth up to 1.5-billion euros, sources said. Story (Reuters)
Cenovus Energy Inc's efforts to sell $5-billion ($3.8-billion U.S.) of energy assets, already facing a rocky road because weak oil prices are depressing the appetite for deals, has become complicated by the surprise departure of its chief executive officer, fund managers said. Story (Reuters)
Hong Kong's CK Infrastructure (CKI) is vying with Canadian investors to buy German metering and energy management group Ista International, which could be worth more than €4.5-billion ($6.68-billion), sources close to the matter told Reuters on Tuesday. Story
ELSEWHERE IN FINANCE
The fight for control of Canada's largest industrial landlord was a nasty, public ordeal, the likes of which is much more common south of the border. Story (Tim Shufelt)
So far this year, 24 VC-backed startups (no Canadian names) have attained that coveted $1 billion (U.S.) valuation and become "unicorns," joining a swelling list of about 200 other private companies. Story (Pitchfork)
The advent of new rules that will fundamentally transform Europe's trading industry from 2018 will set the axe swinging over big parts of investment banks' research teams in the next few years. That is according to a new report from the consultancy McKinsey & Company entitled Reinventing Equity Research as a Profit-Making Business, published today. Story (FN London)