CIBC settles for US$770M The Canadian Press – Feb 17, 2023 / 6:47 pm | Stories: 412161 Photo: The Canadian Press CIBC says it has entered into an agreement to settle a lawsuit filed against it by private equity firm Cerberus Capital Management LP. The company says it’s agreed to pay US$770 million to Cerberus,…
Tag: business news today
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…
Indigo’s ‘cybersecurity incident’ stretches into third day as the website is still offline
Indigo Books & Music Inc. is dealing with what it calls a “cybersecurity incident” that has affected customer orders in-store and online. It started at the Toronto-based retailer on Wednesday. As of Friday afternoon, Indigo’s website was still offline. “We are working with third-party experts to investigate and resolve the situation,” the company said in…
Who is Hindenburg, the firm targeting India’s Adani? – Business News
Photo: The Canadian Press FILE- Adani group Chairman Gautam Adani speaks during the inauguration of the 9th Vibrant Gujarat Global Summit in Gandhinagar, India, Jan. 18, 2019. Hindenburg Research is a financial research firm with an explosive name and a track record of sending the stock prices of its targets tumbling. It’s back in the…
Fed lifts rate by quarter-point and signals more hikes ahead
The Federal Reserve extended its fight against high inflation Wednesday by raising its key interest rate by a quarter-point, its eighth hike since March. And the Fed signaled that even though inflation is easing, it remains high enough to require further rate hikes. Though smaller than its previous hike — and even larger rate increases…
Legal Documents for Your Graduating Senior
If you are a parent with a child who will graduate from high school soon, now is a good time to start planning what documents the child will need moving forward. We can help you stay on top of the latest news that affects your everyday life. Subscribe to stay up to date. (To subscribe…
Relief for homebuyers in 2023? Mortgage rates at lowest levels since September
A dip in mortgage interest rates is spurring demand from homebuyers, according to a new report from the Mortgage Bankers Association, or MBA. Mortgage applications last week jumped 28% from the week prior, according to seasonally adjusted data. The MBA’s refinance index also spiked 34% from the previous week. “As we enter the beginning of…
List of states banning TikTok grows – Business News
Photo: The Canadian Press Wisconsin and North Carolina have joined at least 22 other states in banning the popular social media app TikTok on state-owned devices, including Mississippi, Indiana, Louisiana and South Dakota. Congress also recently banned TikTok from most US government-issued devices over bipartisan concerns about security. TikTok is owned by ByteDance, a Chinese…