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Scotiabank to pay US$127.5 million to settle charges over price manipulation scheme in special metals unit: Scotiabank agreed to pay US$60.4-million as part of a deferred prosecution agreement with the U.S. Department of Justice. It was also ordered to pay US$127.4-million by the Commodity Futures Trading Commission (CFTC), although some of these payments will be offset by the DOJ payment. (Mark Rendell)

Onex brings in president as it eyes future growth: Alternative asset manager Onex Corp. is reworking its management team by promoting veteran executive Robert Le Blanc to the newly created role of company president. Mr. Le Blanc, aged 52, becomes second-in-command to Onex founder and chief executive Gerry Schwartz, aged 78. (Andrew Willis)

Airbnb confidentially files for U.S. IPO: Short-term home rental company Airbnb Inc on Wednesday confidentially filed for an initial public offering with the U.S. Securities and Exchange Commission, marking what is expected to be one of the marquee public market debuts of the year. (Reuters)

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Johnson & Johnson buying Momenta Pharmaceuticals for around $6.5-billion: Johnson & Johnson agreed to buy Momenta Pharmaceuticals Inc. for about US$6.5-billion on Wednesday, to bolster its portfolio of drugs for hard-to-treat autoimmune diseases The acquisition, latest in a recent spate of health care deals, comes just days after France’s Sanofi SA struck a US$3.7-billion deal to buy Principia Biopharma Inc. for its pipeline of autoimmune disease treatments. (Reuters)

BlackBerry partners with Texas startup to build 5G smartphone: BlackBerry Ltd. is teaming up with a Texas-based startup to launch a new 5G-enabled version of its well-known smartphone in the first half of 2021, aimed at the North American and European markets. (Canadian Press)

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