Here are the top reads on deals and financial services over the last 24 hours,
FINANCIAL SERVICES NEWS
TD Ameritrade adjusts to a zero-commission world with cost-cutting, growth measures: TD Ameritrade Holding Corp. is speeding up a strategy to cut costs and find new ways to make money that would mitigate the impact of lost revenue from a price war in the U.S. discount brokerage market. Story (James Bradshaw)
UBS cuts investment banking staff as earnings slump continues: Swiss bank UBS is axing high-paying investment banking staff after a disappointing performance at the division prompted a 16 per cent slide in third-quarter net profit and put the group’s 2019 profit goals further out of reach. Story (Reuters)
Saudi Aramco listing was delayed to rope in anchor investors, sources say: Oil giant Saudi Aramco’s much-vaunted stock market listing was delayed after deal advisers said they need more time to lock in cornerstone investors, three sources with direct knowledge of the matter told Reuters. Story (Reuters)
Scotiabank postpones Chile investor event because of protests in Santiago: Scotiabank says protests in the capital of Chile have “prompted” it to postpone an investor event that was set to be held in Santiago this week. Story (The Canadian Press)
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
SoftBank clinches deal to take over WeWork: source: SoftBank Group Corp. has agreed to spend more than US$10-billion to take over WeWork, doubling down on an ill-fated investment and paying off its co-founder Adam Neumann to relinquish control, people familiar with the matter said on Tuesday. Story (Reuters)
IN CASE YOU MISSED IT
ROB Magazine -- Why the man managing your pension wakes up happy every day: Canadians are earnest, and we take pride in things like our picturesque mountains, our medicare system and the Canada Pension Plan. Until the 1990s, all of the plan’s assets were invested in domestic government debt. Then, Ottawa gradually loosened the strings, allowing the Canada Pension Plan Investment Board (CPPIB) to invest in any assets in any jurisdiction around the world. Story (Bryan Borzykowski)
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