Here are the top reads on deals and financial services over the last 24 hours,
FINANCIAL SERVICES NEWS
Ottawa eases mortgage stress-test rule: Ottawa is revamping the controversial mortgage stress test in a move that would make it easier for borrowers to qualify for loans and could add fuel to already hot housing markets.
Just when the housing market needs a firm hand, Ottawa makes it easier to get a mortgage: So much for the adult supervision of our housing market. The federal government was onto a good thing when it introduced a stress test for home buyers a few years ago that demanded they be able to afford mortgage payments if interest rates spiked higher. The stress test was tough, but all in a good cause in that it limited the risk of people buying more house than they could properly afford. (Rob Carrick)
HSBC to slash investment bank, 35,000 jobs in strategy overhaul: HSBC Holdings PLC said on Tuesday it would shed US$100-billion in assets, shrink its investment bank and revamp its U.S. and European businesses in a drastic overhaul that will mean 35,000 jobs cut over three years. (Reuters)
Was the Laurentian Bank 3.3% savings account a bait and switch?: There are two ways to go if you want to wring all the interest you can out of your savings account - find a bank with a competitive rate or chase temporary deals offering great rates. (Rob Carrick)
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
Caisse-backed Eddyfi NDT becomes one of Canada’s largest private tech companies with Halfwave acquisition: A Quebec pipeline testing company backed by some of the province’s biggest investors has instantly transformed into one of Canada’s largest private technology companies on the heels of two major acquisitions this month. (Sean Silcoff)
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