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Bank of Nova Scotia acquires a 20% stake in Canadian Tire Corp.'s banking business for CAD 500 million ($459 million). This move reflects the bank's strategic objective of gaining a larger share of Canada's profitable credit card market. Canadian Tire, known for its auto-parts and sporting goods retailing, operates a financial-services division that offers banking services, insurance, and company-branded credit cards.
Wednesday, 7 May, 2014