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Here are the top reads on deals and financial services over the last 24 hours,


HomeEquity Bank completes Canada’s first sale of a reverse-mortgage portfolio: The largest Canadian provider of reverse mortgages has sold $75-million of the loans to another bank, marking the first time a portfolio of this special category of home loans has been sold as a financial product in Canada. Story (James Bradshaw)

Sun Life to acquire Britain’s InfraRed Capital Partners: Sun Life Financial Inc. is expanding its global footprint as it buys a majority stake in Britain-based InfraRed Capital Partners, a global infrastructure and real estate investment manager. Story (Clare O’Hara)

JPMorgan receives final approval for majority-owned securities venture in China: JPMorgan Chase & Co. said on Wednesday it has received the final approval from Chinese regulators to set up a majority-owned securities venture in the country. Story (Reuters)


Proposed Fiat Chrysler, Peugeot merger will save US$4.1-billion without layoffs or plant shutdowns, executives say: A proposed merger between Fiat Chrysler and Peugeot maker PSA will achieve yearly cost savings of US$4.1-billion without layoffs or plant shutdowns, executives unveiling final terms of the deal said on Wednesday. Story (Eric Atkins)

Despite IPO flameouts, 2019 sets record for U.S. unicorn births: Unicorns such as Uber Technologies Inc., Lyft Inc. and Slack Technologies Inc. may have had disappointing IPOs, but U.S. venture capital firms gave birth to a record number of unicorns in 2019. Story (Reuters)

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