Category: Business News

Excess household savings may help economy avoid harsher downturns: BMO – Business News

Households have savings

The Canadian Press – | Story: 412057

High household savings in Canada and the US may help both countries avoid a severe downturn as high interest rates ripple through the economy.

Although the pandemic savings have diminished significantly,

…
Read More

Are You Prepared for Russian Ransomware?

Recently, a health network in Pennsylvania was hacked by a Russian ransomware gang called BlackCat.

We can help you stay on top of the latest news that affects your everyday life. Subscribe to stay up to date. (To subscribe to our blog ).

BlackCat attacked a physician practice in Pennsylvania, but did not disrupt healthcare operations.

A ransomware payment was demanded, but refused by the healthcare system.

Sensitive information was accessed and the health system revealed the attack itself.

Is your practice prepared for a potential attack?

Does your staff know how to respond to a demand for

…
Read More

‘The worst is behind us’ [Video]

Real estate may be seeing signs of life. Still, the market will only take off if interest rates drop, Barbara Corcoran, founder of Corcoran Group and Shark Tank investor, said on Yahoo Finance Live (video above.)

“The worst is behind us,” she said.

“It’s going to have to drop two points and people are going to act like there’s a sale on,” Corcoran said on a full market recovery. “Anybody who even has the first thought of buying a house is going to rush the market.”

“The big problem is still high interest rates and there’s still a lack of

…
Read More

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

…
Read More

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

…
Read More

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

…
Read More

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,

…
Read More

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

…
Read More