The Bay Street sign is shown in the heart of the financial district as people walk by in Toronto.MARK BLINCH/Reuters
Finance Minister Bill Morneau says the federal government is on track to get Canada's new infrastructure bank up and running this year. Story (Alexandra Posadzki)
A private equity fund backed by Canada's largest financial institutions is expected to land veteran financier George Rossolatos as its first chief executive officer. Story (Andrew Willis, subscribers)
The Toronto-based Global Risk Institute is developing a new group to study challenges faced by pension plans, garnering support from the largest funds in the country. Story (Jacqueline Nelson, subscribers)
Bank of Nova Scotia is selling practically its entire stake in TMX Group Ltd. five years after it acquired these shares, reasoning that its investment in the Canadian exchange operator is a "non-core holding." Story (Christina Pellegrini, subscribers)
DAILY DEALS
Brookfield Property Partners LP is considering options for its office properties in the Northeastern United States that include the potential sale of a stake that could value the portfolio at as much as $10 billion, people familiar with the matter said. Reuters
Telecom equipment maker Ericsson is in talks to merge its Spanish fiber services arm Abentel with a local firm and people familiar with the new CEO's plans say he is scouting for more merger deals to cut costs and rebuild the group's profits. Reuters
Oil giant Saudi Aramco will open an Indian subsidiary next week, three sources said, as the top global oil exporter looks to tap rising demand and invest in the world's third-biggest consumer. Reuters
ELSEWHERE IN FINANCIAL SERVICES
Toronto-Dominion Bank is opening a new office in Tel Aviv to tap Israel's cybersecurity talent as companies of all stripes race to fortify their defences amid mounting threats. Story
Wells Fargo & Co. said Wednesday it is refunding certain customers who may have wrongfully paid fees for mortgage lock extensions. The bank gave additional details on its plans after Chief Executive Timothy Sloanmentioned the refunds during a congressional hearing Tuesday. Wall Street Journal (subscribers)
Three days after Chinese regulators outlawed cryptocurrency fundraising in early September, a woman met with half a dozen individuals at a Beijing golf club to pitch a digital-currency investment opportunity. Wall Street Journal (subscribers)