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

Barrick, Newmont work toward joint-venture deal: The chief executives of Barrick Gold Corp. and Newmont Mining Corp. are working to reach agreement on a critical joint-venture deal that could stave off a high-stakes takeover battle, but deep divisions remain between the world’s largest gold producers. Story (Niall McGee and Rachelle Younglai, for subscribers)

Hefty banking fees expected if Barrick succeeds in hostile bid for Newmont, estimates show: Former Citigroup banker Michael Klein is set for another big cheque if Barrick Gold Corp. succeeds in its US$17.8-billion hostile bid for Newmont Mining Corp. Mr. Klein’s advisory firm, M. Klein and Co LLC, has already reaped the rewards after serving as one of Barrick’s financial advisers on the Toronto-based miner’s US$6-billion purchase of Randgold Resources in January. Story (Rachelle Younglai, for subscribers)

Scotiabank launches partnership, leads investment in women-focused venture fund: The Bank of Nova Scotia is deepening its ties to the tech sector with an investment in and formal partnership with Disruption Ventures – moving the 10-month-old startup fund closer to becoming the largest private, independent, women-focused venture fund in Canada. Story (Josh O’Kane, for subscribers)

Toronto Real Estate Board joins calls for Ottawa to modify mortgage stress test amid falling home sales: The association representing Toronto real estate agents has added its voice to calls for the federal government to modify its new mortgage qualification rule as home sales fell in February from an already weak level last year. Garry Bhaura, president of the Toronto Real Estate Board (TREB), says the mortgage stress test introduced by Canada’s banking regulator is leaving some buyers on the sidelines as they struggle to qualify for a mortgage for the type of house they want to buy. Story (Janet McFarland, for subscribers)

Judge extends QuadrigaCX’s protection from creditors: A Nova Scotia Supreme Court Justice has granted the beleaguered cryptocurrency exchange QuadrigaCX more time to search for millions of dollars in missing assets. Justice Michael Wood added more than six weeks, to April 23, to a stay of proceedings that, since February, has blocked panicked creditors from suing Quadriga. Story (Jessica Leeder, for subscribers)

MORE FINANCIAL SERVICES NEWS

U.S. banking: JPMorgan Chase & Co has decided to stop financing private operators of prisons and detention centres, which have become targets of protests over Trump administration immigration policies. Story

MORE DEALS NEWS

Gold mega-merger: Barrick Gold Corp’s top shareholder said on Tuesday the miner should focus on striking a joint venture deal in Nevada with rival Newmont Mining Corp before considering a full-blown merger. Story

BIG DEALS OF 2018

Here is the Report on Business annual Big Deals package of stories and tables about financing and investment banking:

Canadian cannabis deal makers shift their focus away from domestic acquisitions: The deal flow in the cannabis industry has shifted dramatically in the past year, thanks to Constellation Brands Inc.’s $5-billion investment in Canopy Growth Corp. and Altria Group Inc.’s $2.4-billion investment in Cronos Group Inc. Cannabis deal makers are now focusing on consumer packaged goods partnerships and international acquisitions, while fewer large Canadian cannabis producers seem interested in acquiring one another. Story (Mark Rendell and Alexandra Posadzki, for subscribers)

Rush of gold mining M&A reflects a return to ‘bigger is better’ thinking: The world’s biggest gold miners have done a 180. After the failure of past blockbuster mining deals, such as Barrick Gold Corp.’s $7.3-billion purchase of copper producer Equinox Minerals Ltd. in 2011, the industry mostly abandoned size as a measure of success, in favour of profitability. Over the past seven years, Barrick and others preached the gospel of the need to generate free cash flow, rather than increase production. But all of a sudden, the “bigger is better” mantra is back. Story (Niall McGee, for subscribers)

Big Law is back: Relief on Bay Street as corporate lawyers thrive: At the highest echelons of corporate law, the existential crisis has abated. Big Law is back – and in some ways, it’s doing better than ever. After several years of soul-searching, an era that included the collapse of Heenan Blaikie, a prominent Canadian shop, many of the largest corporate law firms such as Osler, Hoskin & Harcourt LLP and Torys LLP had banner years in 2018, although exact figures for revenue and profit are closely held, because law firms are privately owned. Story (Tim Kiladze, for subscribers)

Hostile takeovers in the oil patch complicated by extended deadlines, gyrating prices: In the oil patch, takeover deals are happening in slow motion. In some cases, that’s why they aren’t happening at all. Two recent takeover attempts stood out for surprise endings. The outcomes of both were influenced heavily by gyrations in Canadian oil and gas prices as deal-making efforts dragged on for months. Story (Jeffrey Jones, for subscribers)

The top M&A deals of 2018: Table

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