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Morning meeting: RBC invited to party it would rather skip

A look at some must-read news on deals and deal makers around the world



RBC on too big to fail list

Royal Bank of Canada is getting a very expensive compliment from the G20. According to the Financial Times, RBC has made the list of the top 20 systemically important banks.

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Or then again, maybe RBC is not on the list. Finance Minister Jim Flaherty says that the lists he's seen don't include Canadian banks.

The implication is that RBC is on the bubble.

On the upside, that's a big ratification of the bank's return to the top tier of global banks. On the downside, RBC chief executive officer Gordon Nixon had pushed the viewpoint that if one Canadian bank was on the list, all should be. That makes sense from a competitive standpoint.

However, there's no arguing that RBC is the most integrated globally in markets such as debt, currencies and trading. The bank has by far the biggest global presence and seeks to go beyond just being a Canadian bank serving Canadian customers from abroad.





Research In Motion Ltd. to sell tablet for less than $500 (U.S.)



Jim Balsillie and RIM are going straight at Apple Inc., planning to price the new RIM tablet computer at less than $500. Mr. Balsillie revealed the pricing in an interview with Bloomberg News.





Borrowers pay banks $4-billion in swaps

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Interest rate swaps gone bad have forced borrowers to pay Wall Street banks $4-billion (U.S.) to get out of the agreements, Bloomberg reports, hurting municipalities and other creditors who are already facing tough times.







China's oil buying boom

If it feels like Chinese oil companies are doing a lot of acquisitions, that's because they are. The Wall Street Journal looks at the steady rise in deals by that country's big oil companies as they accumulate reserves.





Goldman fires block trading head

Goldman Sachs Group Inc. fired its European head of block trading. The move was because of a violation of disclosure policies, the firm said.





SNC and Bruce lead AECL bidding

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SNC-Lavalin and Bruce Power, a consortium that includes Cameco Corp., are the only two bidders in the running to acquire federally owned reactor builder AECL. The bids are below expectations. Will the federal government forge ahead with the sale?





ING continues to shed assets

ING Groep NV is now preparing its U.S. insurance unit for an initial public offering. The sale should be an interesting test of the U.S. IPO market. Liberty Mutual pulled its IPO in the U.S. earlier this year after demand fell short, but in Asia, AIG's Asian unit had a hugely successful IPO. Which is the model for ING?

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