Fairfax Financial Holdings Ltd. is selling a Singaporean insurance subsidiary in a partnership deal designed to open more growth opportunities in other pockets of the world. Story (Jacqueline Nelson; for subscribers)
Canada's securities regulators are wading into the murky world of initial coin offerings. An ICO is an emerging form of fundraising, in some cases similar to crowdfunding, in which companies sell digital "coins" or "tokens" to finance a new venture. Story (Alexandra Posadzki; for subscribers)
Takeovers of U.S. utilities are expected to continue consolidating the sector, with a $5.5-billion (U.S.) market capitalization, Indiana-based Vectren Corp. is the latest target. Canadian utilities are expected to be among the bidders as domestic companies look to the U.S. for growth. Story (Andrew Willis; for subscribers)
Private-equity firms had been among the biggest funders of small oil and gas firms shunned by public markets, and they had been widely expected go on spending sprees as oil prices languished and companies put assets on the block. Now, even that well is running dry. Story (Jeff Lewis; for subscribers)
FINANCIAL SERVICES
Neither interest-rate uncertainty nor hot-and-cold Canadian housing markets could shake Royal Bank of Canada from a steady path toward stronger growth. Story (James Bradshaw)
Robo-adviser Wealthsimple has launched a new investment portfolio for observant Muslims, a move the company says builds off its success targeting smaller, under-serviced groups of investors. Story
Banks in Britain are set to close a record 762 branches this year, depriving more customers of access to in-person financial services as lenders cut costs by pushing business online. Story
WHAT WE'RE READING
The NIRI has joined the list of those asking for greater regulation of proxy advisers' practices, adding to the focus on the industry with the main 2017 proxy season now in the rearview mirror. IR Magazine
The CFA Institute, the global association of investment professionals, has warned that regulatory changes may not be enough to boost initial public offerings, which are important for the integrity of public markets. Markets Media
Any move by the Toronto Stock Exchange owner to stop settling trades for marijuana companies with U.S. operations would undermine the market's regulatory system, according to one Canadian pot company. Bloomberg
Deutsche Bank AG has halved the price of its fixed-income and macro research as competition mounts in the run-up to Europe's MiFID II regulations, three people with knowledge of its plans said. Bloomberg
As fund managers and research providers tussle over the cost of research under new European rules, some wealth managers are resisting the idea of paying anything at all. Bloomberg
Equity research is the worst job in finance: I could earn more on a building site. The situation is already bad and can only get worse under MiFID II. Efinancialcareers
IN CASE YOU MISSED IT
Royal Bank of Canada posted lower profit from capital markets during its third quarter, as lighter client activity in fixed-income trading weighed on the bank's results. Story (Christina Pellegrini; for subscribers)