Scotiabank closes first phase of investment in U.S. bank KeyCorp

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Keycorp News

Scotiabank,Investment,Scott Thomson

TORONTO — Scotiabank says it has completed the first step in its investment in KeyCorp with the acquisition of a 4.9 per cent stake in the U.S. bank.

Scotiabank announced earlier this month a deal to acquire a 14.9 per cent stake in KeyCorp in two tranches.

Scotiabank chief executive Scott Thomson has said the investment in KeyCorp represents a low-cost, low-risk approach to deploying capital in the U.S. market.There are three weeks left in the regular season, and as teams fight for playoff spots, the debut seasons for up-and-coming talent are winding down, with Clark and Reese facing off Friday night.Another mild inflation reading sets the stage for the Fed's first rate cut since 2020. The question now is how big that first cut will be.

A preliminary hearing date was set Friday for Alphonse Daigle, who is accused of killing 52-year-old André Després earlier this year in a Pointe-Sapin residence.Daigle, 70, was charged with first-degree murder in April after police were dispatched to the scene of a shooting in Pointe-Sapin, a small settlement about 130 kilometres north of Moncton.In Moncton provincial court Friday, Judge Brigitte Volpé scheduled a preliminary hearing for Dec. 4 to Dec. 6.

 

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