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Here are the top reads on deals and financial services over the last week,

Strong performance prompts two of Canada’s largest law firms to reverse pandemic pay cuts for staff: Two of Canada’s largest law firms – Borden Ladner Gervais (BLG) and Norton Rose Fulbright Canada – have reversed decisions taken in the early days of the pandemic to cut employee salaries and now say they will reimburse lawyers and other staff for the lost pay, after strong financial performance for the country’s large corporate firms. (Christine Dobby)

Clearwater Seafoods considers East Coast First Nations-backed takeover bid: Clearwater Seafoods Inc. is weighing a takeover offer backed by East Coast First Nations after striking what was billed as a “historic” deal last month to sell lobster licences to a Nova Scotia Indigenous group. (Andrew Willis)

Sherritt CEO pins future on demand for nickel for electric-car batteries: The aggressive optimism of Tesla’s Elon Musk and other automakers is good news for the recovering Canadian miner. (Andrew Willis)

TD expects to book $2.3-billion gain on TD Ameritrade stake: Toronto-Dominion Bank expects to book a $2.3-billion gain on its stake in online brokerage TD Ameritrade Holding Corp., which was sold to rival Charles Schwab Corp. in a US$26-billion deal that closed on Tuesday. (James Bradshaw)

Airbus unveils new luxury jet to rival Bombardier: Airbus SE unveiled a luxury business jet version of its single-aisle A220 aircraft, using technology developed by Bombardier Inc. for a new model that will compete at the highest end of the market against Bombardier. (Nicolas Van Praet)

Distressed debt funds held at bay as central banks keep credit markets stable: The shock waves that convulsed through financial markets back in February and March sent the level of distressed debt soaring, as a slew of U.S. and Canadian companies faced the sudden prospect of bankruptcy or default. Reminiscent of the credit crisis more than a decade ago, these kinds of episodes usually see hedge funds generate astronomical returns by sinking vast sums of money into companies that cannot access financing through normal channels. But then the central bankers changed the game, practically overnight. The U.S. Federal Reserve, Bank of Canada and others reacted to the COVID-19 crisis with incredible force, promising essentially unlimited liquidity to stave off a credit crunch. (Tim Shufelt)

Sandpiper launches drive for investor support in Artis REIT proxy fight: Sandpiper Group has laid out plans to steer Artis Real Estate Investment Trust should it win a bid to replace most of the board, including cutting costs, increasing distributions to investors and halting business with a company connected to the chief executive’s family. (Jeffrey Jones)

Onex buys US$960-million stake in employee benefits firm OneDigital: Onex Corp. is buying U.S. employee-benefits provider OneDigital for US$960-million, the latest in a string of pandemic-era investments in service businesses from the deep-pocketed asset manager. Toronto-based Onex, which is looking to invest approximately US$6-billion of capital from clients and its own coffers, announced today it is acquiring an 83-per-cent stake in OneDigital, which offers insurance, health care and human resources services to corporate customers. (Andrew Willis)

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