OSFI to crack down on use of banking descriptors
Making a deposit or withdrawal at a financial institution might look like banking and feel like banking – but when is it legal to call it banking? Story (James Bradshaw)
This is the daily Streetwise newsletter with headlines chosen by Globe financial services editor Rita Trichur. You'll notice that we've started to send the weekly wrap on Saturdays now. If you have any feedback, you can reach Rita here. 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.
Canada biotech renaissance continues with IPO filing by Montreal's Clementia
Montreal drug developer Clementia Pharmaceuticals Inc. has filed to go public in the United States to fund development of what it hopes will be the world's first treatment for a debilitating condition that turns human muscles, tendons and ligaments into bone. Story (Sean Silcoff)
SNC-Lavalin prepares to sell off assets
SNC-Lavalin Group Inc. is preparing to roll out a series of investment platforms to sell stakes in projects it has built to fund new activities, starting with a group of Canadian infrastructure assets. Story (Jacqueline Nelson)
Home Capital, having achieved peace, prepares for war
Executives at Home Capital Group Inc. spent a small part of Thursday's annual meeting discussing how they dealt with the lender's recent near-death experience. Story (Andrew Willis)
Why Hydro One is eyeing U.S. takeovers to fuel expansion
Smart CEOs don't surprise the market with deals. They take the time to sell investors on a growth strategy long before they announce a takeover. Story (Andrew Willis)
Oil price volatility driven by 'tourist traders' using incomplete data: report
We've entered a "new era in the oil market," where price volitility is driven by traders with limited knowledge of the oil industry and a reliance on incomplete data, according to a report published this week by RBC Capital Markets. Story (Mark Rendell)
CPPIB's energy asset hunt turns to the United States
CPPIB's energy asset hunt turns to the United States Canada Pension Plan Investment Board is on the hunt for unloved energy assets as it seeks to build out its natural resources investment prowess in the United States. Story (Jacqueline Nelson and Jeff Lewis)
TD, BMO get passing grades in Federal Reserve's stress tests
Toronto-Dominion Bank, Bank of Montreal and a majority of the large U.S. banks passed the second part of the Federal Reserve's annual stress tests, giving them the green light to buy back shares, pay out dividends and make acquisitions. Story (Rachelle Younglai)
Editor's note: Due to statutory holidays in Canada and the United States, the Streetwise newsletter will resume Thursday, July 6.