A Bay Street sign, a symbol of Canada's economic markets and where main financial institutions are located, is seen in Toronto, May 1, 2013.Mark Blinch/Reuters
National Bank tightens mortgage rules in bid to reduce risk
National Bank of Canada is tightening its mortgage standards and is restricting the loans it advances outside of Quebec, a move designed to reduce the lender's risk profile amid roaring housing markets in some of the country's biggest cities. Story (McGee)
Fixed-income trading buoys National Bank's capital-markets results
Record revenue in fixed-income trading pushed second-quarter results higher at National Bank of Canada's capital markets arm, even as volatility in the markets began to wane. Story (Pellegrini)
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DAILY DEALS
Tesaro Inc. is exploring a sale, according to people familiar with the matter, two months after the cancer-treatment developer won a key drug approval. Story (WSJ, subscription required)
Uncertainty around tax policy and political events such as the elections in Europe are preventing companies from pursuing large M&A transactions, Goldman Sachs Group Inc. president and co-chief operating officer David Solomon said on Wednesday. Story (Reuters)
ELSEWHERE IN FINANCE
Home Capital Group Inc. is warning that its ability to originate new home loans will be "constrained" for the rest of this year, although the lender expects renewal rates on its mortgages to hold steady. Story (Bradshaw, O'Hara)
Shares of Element Fleet Management Corp. were hammered on Wednesday amid investor speculation – which turned out to be wrong – that it might be the next target of well-known short seller Muddy Waters Research LLC. Story (Bouw)
Carson Block, the founder of activist short seller Muddy Waters LLC, says nothing shy of a massive rally in gold will save Asanko Gold Inc. Story
The buying and selling of fund stakes in the secondary market makes private equity more attractice than ever. Story