Here are the top reads on deals and financial services over the last 24 hours,
Torys law firm names new managing partner: Torys LLP, one of Canada’s top law firms for mergers and acquisitions, has named its first new leader in 21 years, with private-equity specialist Matt Cockburn poised to take over as managing partner. Story (Andrew Willis and Christine Dobby)
Bank of America tops forecasts as trading, lending gains offset lower rates: Bank of America Corp beat Wall Street estimates for quarterly profit on Wednesday as it earned more in advisory fees and its loan book expanded, easing concerns that lower interest rates would crimp growth at the second-largest U.S. bank. Story (Reuters)
Netflix beats estimates for third-quarter subscriber growth; shares jump: Netflix Inc added slightly more paying subscribers than Wall Street expected in the third quarter, a relief to investors who had worried the company might fall short just as Disney and Apple prepare to ramp up the streaming video wars. Story (Reuters)
IBM tops profit expectations on strength in cloud computing: International Business Machines Corp missed analysts’ estimates for third-quarter revenue on Wednesday, overshadowing a profit beat and sending its shares down 3 per cent in extended trading. Story (Reuters)
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
U.S. FCC approves merger of T-Mobile, Sprint on vote split on party lines: T-Mobile US Inc.’s proposed $26.5-billion tie-up with Sprint Corp won formal approval from the Federal Communications Commission on Wednesday in a vote split along party lines, two sources told Reuters. Story (Reuters)
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