Here are the top reads on deals and financial services over the last 24 hours,
FINANCIAL SERVICES NEWS
BlackRock’s eco-investing strategy is not a moral awakening: Larry Fink, arguably the world’s most powerful investor, has just delivered his annual letter to chief executives. This year, the chairman of giant money manager BlackRock Inc. used his institutional pulpit to thunder about the mounting dangers of climate change and preach the virtues of sustainable investing. It is all good, praiseworthy stuff from a company with nearly US$7-trillion in assets under management. Just don’t assume it means a major shift in policy. (Ian McGugan)
CIBC’s push to speed up Canadian mortgage growth set to face hurdles: Canadian Imperial Bank of Commerce’s efforts to speed up mortgage growth after a pullback two years ago is expected to face hurdles as bigger rivals maintain their hold on the market and record-high debt levels weigh on borrowers, analysts and investors said. (Reuters)
U.S. bank executives offer cautious optimism heading into 2020: Despite trade wars, low interest rates and new geopolitical tensions, big U.S. banks have not experienced major disruption to their core businesses, and top executives are hopeful they can generate growth this year. (Reuters)
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
Aecom shares surge amid possible deal with Canadian rival WSP Global: Shares in U.S. engineering giant Aecom surged nearly 6 per cent in trading on Tuesday amid speculation about a possible merger with WSP Global Inc. in what would be the Canadian firm’s biggest-ever deal. (Nicolas van Praet)
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