Dexia deal

The Belgian government will nationalize the Belgian subsidiary of Dexia after reaching a deal with France on the issue, paving the way for the troubled lender to be broken up, WSJ.com reported, citing sources. The deal calls for the Belgian federal government to pay $5.4 billion for the subsidiary, which includes one of the nation’s largest retail banks. The dismantling ends a 15-year cross-border experiment that soured during the credit crunch of 2008.

Chin-Can spin

China-based Sinopec agreed to buy Canadian oil and gas explorer Daylight Energy for $2.2 billion, as Chinese firms continue to snatch up Canada’s rich energy resources. A government review to determine whether the deal benefits Canada is possible, according to reports.

Cheaper gas

The national average price for regular gas fell 12.54 cents to $3.4192 a gallon over a two-week period ended last Friday, Calif.-based Trilby Lundberg said. The average price is about 23 percent above a year earlier. Crude prices may fall this week on concern the European debt crisis will spread.