Bank towers are shown from Bay Street in Toronto's financial district, on Wednesday, June 16, 2010. Canada's big banks are set to report their latest earnings this week, and while they are poised to benefit from better credit trends in the oil and gas sector and rising U.S. interest rates, headwinds such as housing market concerns and overburdened consumers are expected to weigh them down. THE CANADIAN PRESS/Adrien VeczanThe Canadian Press
Shell to sell $4.1-billion stake in CNRL
Royal Dutch Shell Plc has decided to offload a roughly $4.1-billion stake in Canadian Natural Resources Ltd (CNRL) that it acquired as part of a deal to retreat from Canada's oil sands earlier this year, people familiar with the situation told Reuters. Story
Home Capital hikes rates to draw funds
Home Capital Group Inc. is hiking rates on its guaranteed investment certificates in a bid to attract depositors and replenish its cash base, weeks after the troubled lender was rattled by a surge of withdrawals. Story (Clare O'Hara and Christina Pellegrini)
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DAILY DEALS
Chinese state-owned Sinochem and ChemChina are in merger talks to create the world's biggest industrial chemicals firm, to be headed by Sinochem chief Ning Gaoning, four people with knowledge of the negotiations said. Story
Glencore PLC has made a takeover approach for U.S. grain trader Bunge Ltd., in a move that could reshape an industry long-dominated by four companies. Story
JBS SA, the world's largest meat packer, and its controlling family have engaged Banco Bradesco SA's investment banking unit to work on a plan to dispose of several assets in the wake of a corruption scandal in Brazil, three people with direct knowledge of the situation said on Tuesday. Story (Reuters)
ELSEWHERE IN FINANCE
Bank of England Governor Mark Carney poked fun at the drinking habits of one of his predecessors before realizing he had fallen victim to an email prankster this week. Story
Nearly three-quarters of Canadian homeowners say they would have difficulty paying their mortgage if their payments were to increase by more than 10 per cent, a new survey by Manulife Bank says. Story