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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)

Morgan Stanley acquiring asset manager Eaton Vance for $7-billion: Morgan Stanley has agreed to buy Eaton Vance Corp for about $7 billion in a cash-and-stock deal that can quickly expand its investment-management business and further expand offerings to retail investors, the bank said today. (Reuters)

Canada Life, Savills fire up frozen British property funds: Canada Life has reopened its suspended £341-million British property fund and Savills Investment Management said it had partly reopened two funds, as the sector shows further signs of life after a six-month freeze. Much of Britain’s £70-billion property fund market was suspended in March on uncertainty about valuations as a result of the COVID-19 pandemic. (Reuters)

Citigroup pays US$400-million fine: Citigroup Inc has agreed to pay a US$400-million fine and draw up a sweeping plan to fix persistent risk management and operational problems that have led to multiple violations and penalties over the years, U.S. regulators said have announced. (Reuters)

Air Canada raises nearly $500-million by selling and leasing back nine Boeing 737 Max 8s: Air Canada has raised nearly $500-million by selling and leasing back nine aircraft to help offset the cash drain from COVID-19. Chief financial officer Michael Rousseau says the airline has raised almost $6-billion in liquidity since the start of the pandemic to mitigate the challenges and uncertainty caused by the virus. (The Canadian Press)

BitMEX founders step back from roles following charges: Top executives at BitMEX, one of the world’s largest cryptocurrency derivatives exchanges, will step back from their roles, the company said today, a week after U.S. prosecutors filed criminal charges against them. Prosecutors said BitMEX had made itself a “vehicle” for money laundering and sanctions violations; the company said it would “vigorously” fight the allegations. (Reuters)

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