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

Opportunities for law firms ‘virtually limitless’ with cannabis legalization: Canada’s leading corporate law firms are embracing the opportunities posed by the legalization of recreational cannabis, a change that will affect a wide range of legal areas from tax law to privacy law, from banking to employment. Story (Sean Fine, for subscribers)

Boris Wertz’s Version One closes third fund, drawing in global investors: Vancouver-based Version One Ventures has raised its third fund, drawing $57-million from a mix of Canadian and international backers including American investment management giant Invesco Ltd. and European investment management firm Sofina SA. International investors accounted for about one-third of the fund, compared with less than 10 per cent for each of Version One’s last two funds. Story (Sean Silcoff, for subscribers)

MORE FINANCIAL SERVICES NEWS

Bank earnings: Wall Street’s top investment banks reported better-than-expected quarterly profits on Tuesday, helped by strength in stock trading and equity underwriting, wrapping up what has been a strong quarter for the big U.S. banks. Story (for subscribers)

Brexit: Wells Fargo & Co said on Tuesday it had applied for an investment firm license in France as part of a Brexit strategy to shift some of its servicing of European mainland customers out of London. Story (for subscribers)

MORE DEALS NEWS

IPO: Ride-hailing company Lyft Inc. has chosen JPMorgan Chase & Co, Credit Suisse and Jefferies as underwriters for its initial public offering, slated for the first half of 2019, according to a person familiar with the matter. Story (for subscribers)

IPO: Ride-hailing giant Uber Technologies Inc could be valued at $120 billion, when it finally goes public next year according to proposals made by U.S. banks bidding to run the offering, the Wall Street Journal reported on Tuesday. Story (for subscribers)

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