Here are the top reads on deals and financial services over the last 24 hours,
FINANCIAL SERVICES NEWS
Scotiabank chief economist doubtful on recession, expects interest rate cut: The Bank of Nova Scotia’s senior vice president and chief economist isn’t fretting over a potential recession because he believes predictions that one will hit Canada are “exaggerated.” (The Canadian Press)
Hey OSC: Can you spare $100-million?: Do most Ontarians know that there is more than $100-million of public money sitting in a bank account at the Ontario Securities Commission (OSC) just waiting to be spent on health care, education or legal aid? Unfortunately, they may not as the OSC is badly behind on its statutory corporate-governance obligations (ironically for our capital markets regulator). It is also not clear what Queen’s Park plans to do about it. (Opinion)
BlackRock-led group eyes initial $500-million for climate infrastructure fund: A BlackRock-backed group aims to raise an initial $500 million for a private equity fund that will invest in climate change-linked infrastructure upgrades in emerging markets. (Reuters)
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
BMO in talks to acquire Clearpool for about $100-million: sources: The technology race between Canada’s big banks is heating up, with Bank of Montreal in talks to acquire U.S. trading software company Clearpool Group Inc. for approximately $100-million, according to multiple sources familiar with the transaction. (Andrew Willis and James Bradshaw)
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