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Scotiabank to buy 14.9% of KeyCorp for about $2.8B

BankInovation

Bank of Nova Scotia agreed to buy a minority stake in KeyCorp, which was among the US regional banks hit hardest in last year’s tumult, for about $2.8 of Cleveland-based KeyCorp by buying shares at $17.17 billion as part of a focus on North America. Scotiabank will acquire 14.9% each, representing an 11% premium to […]

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US Retail Vacancies Hold Steady At 10.2 Percent

PYMNTS

In the fourth quarter, the regional and super regional mall vacancy rate fell slightly as overall retail vacancies in the U.S. In the months to come, Denham noted, retailers are forecasted to close many locations (among them Sears and Kmart, with the fate of the bankrupt Sears chain still uncertain). stayed constant.

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Mall Chain Owner Considering Selling Off Its Malls

PYMNTS

The Cleveland-based firm says that it is “reviewing strategic alternatives for its retail portfolio.” According to Chain Store Age , this could mean shifting or significantly reducing its investment in the mall and retail center industry to instead focus on apartments and office buildings.

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Facebook Faces Billions In Possible GDPR Fines

PYMNTS

Also in Europe, the European financial markets regulator has said that it wants to spend one million euros to promote market stability in the region as pertains to cryptocurrencies and FinTechs. That document focuses on budgets and regulatory efforts across the region. Crypto Regulations. Banking, Eyed by the Fed.

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Visa’s PayWorks Acquisition, Amazon’s Prime Day Top This Week’s News

PYMNTS

Cleveland-based regional banking firm KeyCorp disclosed a massive instance of fraud that could potentially come at a cost of $90 million. The online retailer also said it sold more Amazon devices, such as the Fire TV Stick and the Echo Dot, than ever before. and closed at $204.87. Payroll Fraud Could Cost KeyCorp $90M.

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Lumen Aims To Boost Weight Loss Through Metabolism Measurements

PYMNTS

When the situation started, like everyone else, we were unsure what the impact would be, and we started exploring selling in regions that were less affected,” Rosenfeld said. The company’s blog is focused on general nutrition issues, such as the benefits and drawbacks of a keto diet. With the pandemic, that hasn’t changed.

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Fizzle Of The Week: Economic Cooperation (The Trade Kind, That Is)

PYMNTS

In the meantime, steel producers are already raising prices, which means a gain of input costs for firms of all stripes, and which means that everything, as the Federal Reserve Bank of Cleveland implied in a report, is seeing a ripple effect – as, for example, food packaging firms have seen higher prices in purchased steel supplies.

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