Bank towers are shown from Bay Street in Toronto's financial district, on Wednesday, June 16, 2010. Federal MPs are hearing from Canada's big banks as a parliamentary committee explores allegations of questionable sales practices at major financial institutions. THE CANADIAN PRESS/Adrien VeczanThe Canadian Press
Canadians brace for higher borrowing costs
It will take very little time for many Canadian borrowers to feel the effects of the first rate hike in seven years. Story (Tim Shufelt and James Bradshaw)
OSFI faces calls to stall mortgage rule changes
Canada's banking regulator is facing calls to delay new changes in mortgage rules in the face of Wednesday's interest-rate hike as industry experts say a series of recent measures could go too far to cool the country's hottest housing markets. Story (Janet McFarland)
This is the daily Streetwise newsletter with headlines chosen by Globe financial services editor Rita Trichur. If you're reading this on the Web or someone forwarded this e-mail newsletter to you, you can sign up for the Streetwise newsletter and all Globe newsletters here.
DAILY DEALS
The Canada Pension Plan Investment Board will pay nearly $1.4-billion to become the largest partner in the Corrib offshore natural gas field, 83 kilometres off the coast of Ireland. Story
Votorantim Metais Holding SA is looking to raise $750 million in an initial public offering on Canada's Toronto Stock Exchange that would value the Brazilian base metals producer at $4 billion, two people with direct knowledge of the plan said on Wednesday. Story (Reuters)
Canada's Brookfield Asset Management has signed an exclusivity agreement to acquire power transmission lines owned by Brazil's J&F Investimentos SA, which is selling off assets to pay a record corruption-related fine, two people with knowledge of the matter said on Wednesday. Story (Reuters)
ELSEWHERE IN FINANCE
Two like-minded venture firms have formed a strategic partnership and marked the occasion with a first joint deal, backing the developer of an electronic nose sensor. TandemLaunch, a creator of synthetic startups in the consumer-electronics space, agreed to partner with Mistral Venture Partners, a seed investor in information-technology companies. Story (PE Hub)
WeWork's latest round, a massive $760 million (U.S.) funding reported earlier this week, has increased the valuation of the co-working space provider by about $4 billion. Here are the five most valuable startups in the United States. Story (Pitchbook)
Toronto-based Casalova, an online real estate marketplace, has acquired property management group MyPropertyManagers (MyPM) and its $35 million in assets under management. Story (Betakit)