Bank towers are shown from Bay Street in Toronto's financial district, on Wednesday, June 16, 2010.
The 'tacit collusion' in how big banks set fees
Investment bankers enjoy a sweet deal. They collect lush fees that rarely seem to go down, no matter how apparently fierce the competition might be or how off-putting their charges may be for customers. Story (Ian McGugan)
PSP Investment Board looks to Puerto Rico for airport deal
The Public Sector Pension Investment Board is flying into the tropics in search of investment returns, betting on the shopping side of the airport business in its latest deal. Story(Jacqueline Nelson)
Tax-friendly trades a boon for Scotiabank's capital markets wing
Lower provisions for credit losses, higher trading revenue and a big tax adjustment fuelled a surge in capital markets profit at Bank of Nova Scotia in the second quarter. Story (Niall McGee)
DAILY DEALS
Kinder Morgan Canada Ltd.'s shares tumbled in the company's public debut as new risks threatened to stall a major pipeline expansion to Canada's West Coast. Story (Jeff Lewis)
Aion Capital Partners, a private equity firm backed by Apollo Global Management LLC, is among suitors that have expressed interest in buying a stake in India's Catholic Syrian Bank Ltd., people familiar with the matter said. Story
London Stock Exchange (LSE) is to buy Citigroup's Yield Book fixed-income analytics service and its related indexing business for $685-million in cash, the LSE's first big deal since its merger with Deutsche Boerse fell through in March. Story
ELSEWHERE IN FINANCE
Surging profit from key international markets helped Bank of Nova Scotia to robust second-quarter results, and the lender is now casting around for possible acquisitions that could reinforce its presence in Latin America. Story (James Bradshaw)
Goldman Sachs Group Inc. is on the defensive in Venezuela after it bought bonds that had been held by the struggling country's central bank in a transaction the government's opposition decried as a lifeline to President Nicolás Maduro's embattled administration. Story (WSJ, subscription required)
As skirmishing continues in the Eco Oro Minerals saga, its true significance – the key role that full disclosure plays when private placements become a weapon in proxy battles – has yet to see broad daylight. Story (Lexpert)