Category: Business News

CIBC agrees to settle Cerberus lawsuit for US$770 million – Business News

CIBC settles for US$770M

The Canadian Press – | Stories: 412161

CIBC says it has entered into an agreement to settle a lawsuit filed against

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Prominent Chinese investment bank says its founder is unreachable

Shares of the company that operates one of China’s top investment banks, China Renaissance, plunged Friday after the firm said it had lost touch with its founder, Bao Fan, one of the country’s most high-profile bankers and a top tech-sector dealmaker.

China Renaissance Holdings said in a filing to Hong Kong’s stock exchange Thursday that it had been unable to contact Bao, who has worked on major deals including e-commerce company JD.com’s $2-billion US initial public offering and the public listing of short video Kuaishou platform in Hong Kong.

The company said it was “not aware of any information that

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Russia blocks access to The Bell news website

MOSCOW (Reuters) – Russia on Sunday blocked access to The Bell, a news outlet founded by one of Russia’s top journalists, the latest website to be taken offline as Moscow cracks down on independent media.

Russia has blocked dozens of news sites since it invaded Ukraine last year, often accusing them of publishing “fake” news about what it calls its “special military operation” in Ukraine.

The Bell mainly covers business news and was one of the few remaining independent media websites accessible after the authorities blocked Mediazona, Meduza and Novaya Gazeta.

It said last year it was going to stop

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What Russia’s economic resilience means for the war in Ukraine

Since the Russian invasion of Ukraine nearly a year ago, attempts have been made to clobber its economy.

Russian businesses have been cut off from the vast tracts of the Western world. Its oligarchs have been sanctioned and had their yachts seized. And yet, by almost every measure, the Russian economy has weathered the last year much better than almost anyone expected.

“There are clear signs of a slowdown in the Russian economy,” said Desjardins principal economist Marc Desormeaux. “But things are not quite as bad as feared when this conflict erupted.”

Beyond the staggering human costs of the war,

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Chattanoogan Bill Kilbride to remain TVA chairman and other business news

Chattanoogan Bill Kilbride to remain TVA chairman

Chattanoogan Bill Kilbride will remain as chairman of America’s biggest public utility until November unless his replacement is named and confirmed before then.

In the first meeting of a full nine-member TVA board since 2019, Kilbride was elected Thursday to remain as chairman of the Tennessee Valley Authority for the next couple of board meetings, and former TVA Chairman Joe Ritch was elected as chairman-elect to succeed Kilbride at the board’s Nov. 10 meetings.

Before being named by former President Donald Trump to the TVA board in 2019, Kilbride served as the president

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New AI voice-cloning tools ‘add fuel’ to misinformation fire – Business News

In a video from a Jan. 25 news report, President Joe Biden

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How Can I Preserve Wealth for Future Generations?

Some of our clients are interested in preserving wealth for future generations, and in that instance, we sometimes recommend starting a family bank.

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A family bank is an estate planning tactic to help preserve wealth for generations to come. They can be structured in a variety of ways to meet that family’s needs, however, they are intended to help benefit a group of family members.

If our clients give their

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Pepsi drops Peeps-flavored soda: Here’s how to get the marshmallow-flavored cola

STATEN ISLAND, NY — A sensational cola treat is back by popular demand — Pepsi is once again offering its limited-edition Peeps soda.

The beverage company is collaborating with the Peeps brand to bring the marshmallow-flavored soda to market — a partnership that Pepsi said “broke the internet” in 2021. Two years ago, the partnership made its debut and trended everywhere — even being sold for hundreds of dollars on the resale market. That’s because the drop was available for 3,000 fans at the time, which intrigued cola drinkers everywhere and drove consumer demand.

Now the drink is being sold

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