Canadian Tire buys back stake in financial services business from Scotiabank

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TORONTO — Canadian Tire Corp. Ltd. has signed a deal to buy back the 20 per cent stake in Canadian Tire Financial Services that is owned by Scotiabank for...

TORONTO — Canadian Tire Corp. Ltd. has signed a deal to buy back the 20 per cent stake in Canadian Tire Financial Services that is owned by Scotiabank for $895 million.Canadian Tire CEO Greg Hicks says the deal will give the company more control and flexibility when it comes to its Triangle Rewards loyalty program.The retailer says consideration will be given to the optimal ownership structure of the financial services business and its Triangle Rewards program and credit card portfolio.

In the restaurant industry, stability is critical.So when David Ferguson noticed an unexpected $200 charge on his credit card bill from the tech company he uses to help manage his business, he figured it was an accounting mistake.Ferguson is the chef and owner at Gus, a small restaurant in Montreal's Petite-Patrie neighbourhood.He started using Lightspeed, a publicly traded Canadian point-of-sale supplier, about four years ago.

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