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A Bay Street sign is seen in the financial district in Toronto in this file photoMark Blinch/The Globe and Mail

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)

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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 27/03/24 4:46pm EDT.

SymbolName% changeLast
DB-N
Deutsche Bank Ag
+3.91%15.96
RY-N
Royal Bank of Canada
+1.26%100.4
RY-T
Royal Bank of Canada
+1.12%136.23

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