Bank towers are shown from Bay Street in Toronto's financial district, on Wednesday, June 16, 2010.
Well-known markets prognosticator Marc Faber a.k.a. "Dr. Doom" resigned his board seats at Sprott Inc., Ivanhoe Mines Ltd. and NovaGold Resources Inc. on Tuesday after his latest newsletter ignited international outrage, with the publication of a litany of inflammatory and racist comments. Story (Niall McGee)
Canada's banking regulator will move ahead with controversial new mortgage stress-testing rules in an effort to curb risky lending practices at banks, but critics say the changes will drive more borrowers to unregulated alternative lenders and add risk to the financial system more broadly. Story (Janet McFarland and James Bradshaw)
The Ontario Securities Commission is refusing to wade into a controversial decision made by Canada's largest stock-exchange operator that could see some cannabis companies doing business south of the border kicked off of the country's two main stock markets. Story (Christina Pellegrini)
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DAILY DEALS
Bombardier Inc. was pushed into the hands of Airbus SE after holding talks with Chinese investors that went nowhere and being sued by Boeing Co., which the company had earlier approached to partner on the C Series airliner. Story (Nicolas Van Praet, Andrew Willis, Daniel Leblanc and Eric Reguly, subscribers)
You've got to hand it to the brilliant, Machiavellian minds at Airbus. In one fell swoop, like an eagle swooping down on a dove, Airbus Group SE has seized the world's most technologically advanced small passenger jet, the Bombardier C Series, for nothing – as in zero, zilch, nada. Story (Eric Reguly, subscribers)
The Caisse de dépôt et placement du Québec has made its largest bet on an emerging Canadian tech firm since the dot-com bubble, buying a nine-figure stake in Montreal's hottest startup, Lightspeed POS Inc., from Silicon Valley venture-capital giant Accel Partners in an effort to keep the company in Canadian hands until it can go public. Story (Sean Silcoff, subscribers)
Saudi Arabia still plans to publicly list a portion of its state oil company in 2018, the kingdom's oil minister said Tuesday, after reports that the effort may be abandoned. Story (Wall Street Journal, subscribers)
Thomas J. Barrack Jr., the wealthy private-equity investor who is in negotiations to buy the Weinstein Co., has spent most of his career trading real estate. But bailing out troubled celebrities has long been a favorite hobby. Story (Wall Street Journal, subscribers)
ELSEWHERE IN FINANCE
The Bank of Canada is partnering with TMX Group and Payments Canada to explore how blockchain technology could be used to speed up the clearing and settling of securities. Story (Alexandra Posadzki)
Former governor-general David Johnston is expanding his private-sector reach with plans to offer guidance to two major Canadian companies. Story (Jacqueline Nelson)
George Soros, who built one of the world's largest fortunes through a famous series of trades, has turned over nearly $18 billion to Open Society Foundations, according to foundation officials, a move that transforms both the philanthropy he founded and the investment firm supplying its wealth. Story (Wall Street Journal, subscribers)
Goldman Sachs Group Inc beat Wall Street estimates on a smaller-than-expected revenue decline at its struggling bond trading unit, gains in its private equity investments and higher fees from dealmaking. Story
Morgan Stanley posted a much higher-than-expected quarterly profit on Tuesday as record revenue from its wealth management business helped offset the blow from a slump in trading activity. Story