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Bank towers are shown from Bay Street in Toronto's financial district, on Wednesday, June 16, 2010.Adrien Vecz

Here are the top reads,

Canadian earnings: Fourth-quarter profit at HSBC Bank Canada dipped 20 per cent lower than a year ago and its global parent reported mixed results as it says farewell to departing chief executive Stuart Gulliver. Story (James Bradshaw)

Post takeover blues: Alex Pourbaix didn't get the kind of honeymoon the market often affords new CEOs brought in to turn around a company that's stumbled. But Cenovus Energy Inc.'s chief executive officer, who took the helm in November, is doing what he was hired to do – work to bring credibility back to the oil sands producer as it deals with the fallout from a massive acquisition that many investors still sneer about. Opinion (Jeffrey Jones, for subscribers)

From Globe Investor: Six stocks with takeover potential. Story

FINANCIAL SERVICES WRAP

Payday loans: City of Hamilton councillors are set to vote Tuesday on a motion to limit the number of payday loan outlets in the city, after accusations of "predatory" behaviour from activists. Story

Cutbacks: Deutsche Bank is cutting at least 250 investment banking jobs in locations including London and the United States, a person familiar with the matter told Reuters, adding that the figure could rise to as many as 500. Story (for subscribers)

Health watch: Thomson Reuters Corp said on Tuesday Chief Executive Officer Jim Smith is in stable condition after an arrhythmia incident on Feb. 12 and is expected to be released from hospital within the next two weeks. Story

DEAL WRAP

Pot sector: In an unusual move, licensed marijuana producer Aphria Inc. is cutting the amount of cash it is offering for cannabis company Nuuvera Inc. – from $1 to 60 cents per share – as Nuuvera seeks to fully acquire its subsidiary Avanti Rx Analytics. Story

Retail sector: U.S. grocery chain operator Albertsons Companies Inc said on Tuesday it would buy drugstore chain Rite Aid Corp in a cash-and-stock deal to create a company with US$83-billion in revenue. Story

Chips sector: U.S. semiconductor company Qualcomm Inc on Tuesday unveiled a sweetened US$44-billion agreement to acquire NXP Semiconductors NV, its most defiant move in its defense against a hostile ?US$121-billion bid from Broadcom Ltd. Story

Media sector: A federal judge on Tuesday denied AT&T Inc's request to see White House communications that might shed light on whether U.S. President Donald Trump pressured the Department of Justice to try to block the wireless carrier's purchase of Time Warner Inc. Story

Media sector: Rupert Murdoch's Twenty-First Century Fox has strengthened its offer to protect the independence of Sky's loss-making news channel to try to overcome regulatory concerns about Fox's takeover of the parent company. Story

Takeover drama: Xerox Corp shareholders Carl Icahn and Darwin Deason said on Tuesday the U.S. company should seek to sell itself to one of its rivals or a private equity firm. Story (for subscribers)

IN CASE YOU MISSED IT

Earnings seasons: Bullish expectations for Canada's banks are carrying into reporting season for the first fiscal quarter, dampened just a little by uncertainty over global trade and Canada's volatile housing markets. Story (James Bradshaw, for subscribers)

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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 29/05/24 4:00pm EDT.

SymbolName% changeLast
CVE-N
Cenovus Energy Inc
-1.53%20.64
CVE-T
Cenovus Energy Inc
-1.12%28.3
NXPI-Q
Nxp Semiconductors
-2.07%273.83
QCOM-Q
Qualcomm Inc
-2.26%208.26
TRI-N
Thomson Reuters Corp
-1.99%169.05
TRI-T
Thomson Reuters Corp
-1.49%231.85

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