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Canadian bank headquarters stand on Bay Street in Toronto on Monday August 29, 2011. Bay Street is the centre of Toronto's Financial District and is often used by metonymy to refer to Canada's financial industry Photographer: Brent Lewin/BloombergBrent Lewin/The Globe and Mail

Here are the top reads,

Keg deal: Cara Operations Ltd. is set to swallow Keg Restaurants Ltd. in the latest example of consolidation in Canada's fragmented restaurant industry. Story (Marina Strauss and Jacqueline Nelson)

Analysis: In its latest deal with Keg Restaurants Ltd., announced on Tuesday, Cara Operations Ltd. is as much the target as the acquirer. Story (Tim Kiladze, for subscribers)

China concerns: A Calgary oil company backed by China's authoritarian Communist Party has emerged as a major buyer of distressed energy assets, prompting new concern over Canada's push to explore free-trade talks with China. Story (Nathan Vanderklippe and Jeff Lewis, for subscribers)

FINANCIAL SERVICES WRAP

Headquarters: National Bank of Canada plans to invest more than $500-million to build a new headquarters near the old city of Montreal that will be the largest office tower built in the area in 25 years. Story

Froth: Global finance executives warned of parallels between today's soaring stock markets and the froth of the pre-crisis years as they said investors could be wrong-footed by central banks raising interest rates. Story

Expansion strategy: JPMorgan Chase & Co unveiled a $20-billion (U.S.) investment plan on Tuesday to hike wages, hire more, open new branches and expand its business as it takes advantage of sweeping changes to the U.S. tax law and a more favourable regulatory environment. Story

Social conscience: There is a pressing need to reassert the social utility of the financial sector – including the development of products, services and markets that help mobilize capital for social good. Why, then, is it so difficult for our financial institutions (and regulators) to "connect the dots"? Consider their conspicuous absence in recent global climate-change initiatives. Opinion (Celine Bak and Ed Waitzer)

DEAL WRAP

Booze sector: Bacardi has agreed to buy out Patron Spirits International in a deal valuing the top high-end tequila maker at $5.1-billion (U.S.), highlighting the appetite big drinks groups have for the Mexican spirit. Story

Media sector: Rupert Murdoch's $15.7-billion (U.S.) takeover of European broadcaster Sky should be blocked unless a way is found to prevent the media tycoon from influencing the network's news output, Britain's competition regulator said. Story (for subscribers)

WHAT WE'RE READING ELSEWHERE

Alpha males and traders: More testosterone results in higher turnover, more aggressive stock picks, and a reluctance to admit to a bad investment, according to new research. Institutional Investor

Stock exchanges: The New York Stock Exchange took a swipe on Tuesday at its London rival in their battle to attract the foreign listing of shares in oil giant Saudi Aramco, saying it didn't need to "bend over backwards" to lure what could be the world's biggest IPO. Reuters

Bonuses and the bull market: It's bad form to bring up unpleasant things during bonus season. That's one of the two reasons the Asian sell-side isn't talking much about MiFID II. The other is copious liquidity. Bloomberg

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 18/03/24 4:00pm EDT.

SymbolName% changeLast
NA-T
National Bank of Canada
+1.06%111.39

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