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☆ Europe is reckoning with a 'much more unpredictable' U.S., former EU chief says
▼ + stars: | 2024-06-11 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Former European Commission President Jose Manuel Barroso speaks on stage during the 2022 Concordia Annual Summit in New York on September 20, 2022. Leigh Vogel | Getty Images Entertainment | Getty ImagesA more "unpredictable" U.S. will only add to the challenges facing the incoming European Parliament as it navigates increasingly fraught ties with China and Russia, according to former EU Commission President José Manuel Barroso. "It's not just that the European Union is facing a much more aggressive Russia, a much more assertive China, it's also facing a much more unpredictable United States of America. watch nowBarroso, who served as commission president from 2004 to 2014, said that the U.S. remains the EU's "biggest ally," and that the two sharing close ties, including within NATO. "Today there are some doubts about which way the United States can go.

Persons: Jose Manuel Barroso, Leigh Vogel, José Manuel Barroso, Barroso, Donald Trump, It's, it's, CNBC's Silvia Amaro Organizations: European, Getty, EU, CNBC, Republican, U.S, NATO, Goldman Sachs Locations: New York, China, Russia, Europe, States of America, Ukraine, U.S, United States

☆ Mexico's drug cartels and gangs appear to be playing a wider role in Sunday’s elections than before
▼ + stars: | 2024-06-01 | by ( ) www.cnbc.com time to read: +3 min

Mexico's drug cartels and gangs appear to be playing a wider role than before in Sunday's elections that will determine the presidency, nine governorships and about 19,000 mayorships and other local posts. The country's powerful drug cartels have long staged targeted assassinations of mayoral and other local candidates who threaten their control. Security analyst David Saucedo says it's likely some drug gangs will try to force voters to cast ballots for their favored candidates. "It it is reasonable to assume that the cartels will mobilize their support bases during Sunday's elections," Saucedo said. While they did not say who was behind the attack, the town is completely dominated by two warring drug cartels, Jalisco and Sinaloa.

Persons: David Saucedo, it's, Saucedo, Guerrero, Angélica Chávez, Chávez Organizations: Michoacan Civil Guard Locations: Michoacan, Morelia, Mexico, Chicomuselo, Chiapas, Jalisco, Sinaloa, La Concordia, Cotija

☆ Opinion: If you opposed the pro-Palestinian protests, here’s why you should reconsider
▼ + stars: | 2024-05-22 | by ( Opinion Haroon Moghul | ) edition.cnn.com time to read: +10 min

The media line fed to the public about weeks of protests at Columbia — and the administrative crackdown that followed — has been selective at best. Columbia students have made clear that that’s what drives their protests. Why, even as numerous students at Columbia and elsewhere have been doxxed, harassed and bullied, were no congressional hearings called? But if Columbia students didn’t care about their university and the values it claims to uphold, they wouldn’t have risked so much with their protests. By the same token, if students didn’t care about our country, they wouldn’t protest so vocally against its policies.

Persons: Haroon Moghul, I’ve, —, What’s, we’ve, Minouche Shafik, Shafik, aren’t, maters Organizations: The Concordia Forum, CNN, Columbia University’s Department of, Studies, Columbia, Columbia University, Columbia —, UCLA, Israel, Police, Ivy League, America, Twitter, Facebook Locations: Islam, Eastern, Europe, Columbia, Gaza, Washington , DC, America

☆ Chiapas, Mexico: Six people killed during campaign event
▼ + stars: | 2024-05-17 | by ( Gerardo Lemos | Fidel Gutierrez | ) edition.cnn.com time to read: +1 min

CNN —Six people were killed and two injured by gunfire at a political campaign event in Chiapas, Mexico on Thursday, according to a statement from the state Attorney General’s Office. A preliminary investigation found that the deaths occurred after a confrontation between armed civilians during an electoral campaign event that was attended by a candidate for the municipal presidency of La Concordia for the Chiapas Popular Party, Lucero López Maza. However political violence has spiked across the country as Mexico heads toward its largest election in history on June 2. The Attorney General’s Office said three of the victims, one of whom was a minor, were women, and three men. Earlier this week, eleven people were killed in mass shootings in the neighboring municipality of Chicomuselo, the state prosecutor said.

Persons: Lucero López Maza, López Maza, General’s Organizations: CNN, General’s, La Concordia, Chiapas Popular Party, Sinaloa Cartel, Jalisco New Locations: Chiapas, Mexico, Guatemala, Chicomuselo, Sinaloa, Jalisco

☆ The Baltimore bridge disaster may lead to the 'largest single marine insurance loss ever,' Lloyd's of London bosses say
▼ + stars: | 2024-03-28 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Read previewThe collapse of Baltimore's Francis Scott Key bridge could lead to the biggest losses in the history of marine insurance, the bosses of Lloyd's of London warned on Thursday. "The tragedy has the capacity to become the largest single marine insurance loss ever," the commercial insurance market's chairman Bruce Carnegie-Brown said in an interview with Reuters. Related stories"I would say it's certainly going to be one of the largest marine losses in history, of that there is little or no doubt," he said. Barclays analysts estimate that the disaster could lead to $3 billion in insurance claims, while Morningstar DBRS put the figure at $4 billion. AdvertisementBoth of those figures would surpass the $1.5 billion losses triggered by the Costa Concordia disaster.

Persons: —, Baltimore's Francis Scott Key, Bruce Carnegie, Brown, John Neal, Neal, Dali, Morningstar DBRS Organizations: Service, Reuters, Business, BBC Radio, Maersk, Barclays Locations: London, Costa Concordia, Italy

☆ Who ends up holding the bag for the Baltimore bridge collapse?
▼ + stars: | 2024-03-28 | by ( Catherine Thorbecke | Nathaniel Meyersohn | ) edition.cnn.com time to read: +7 min

Marine insurance companies will be on the hook for much of the costs. These insurance companies are backed by insurance companies of their own – a type of business known as a reinsurer. The potential cost of insurance claims from the bridge collapse could be between $1 billion and $3 billion, analysts at Barclays wrote in a note Wednesday. “But other than that, the economic impact of what has happened will be enormous, but not recoverable from the ship,” Davies said. Maryland lawmakers, meanwhile, are drafting an emergency bill to provide income replacement for Port of Baltimore workers impacted by the bridge collapse.

Persons: Baltimore’s Francis Scott Key, ”, John Miklus, Dali, Brendan Holmes, Miklus, Loretta Worters, Worters, Martin Davies, ” Davies, Joe Biden, Francis Scott Key, it’s, ” Biden, Scott Olson, Davies, Bill Ferguson Organizations: New, New York CNN, American Institute of Marine Underwriters, “, Barclays, Grace Ocean, Britannia, Indemnity, International Group, International, CNN, Insurance, Costa, Maritime Law Center, Tulane University, “ Maersk, Federal Highway Administration, Infrastructure Investment, Jobs, Biden, . Workers, Robins, Repair, Port, Maryland Locations: New York, Singapore, Costa Concordia, Italy, Danish, Baltimore , Maryland, Maryland, Baltimore

☆ The marine insurance industry is bracing for huge claims from the Baltimore bridge disaster
▼ + stars: | 2024-03-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Huge insurance claims are expected after the Dali collided with a major bridge on Tuesday. The claims could be on par with the $1.5 billion from the Costa Concordia disaster, an expert told Insurance Business. AdvertisementThe marine insurance industry is bracing for huge claims from Tuesday's Baltimore bridge disaster. AdvertisementThe marine insurance and reinsurance markets are likely to foot most of the bills, S&P Global reported on Tuesday. The Baltimore bridge itself is insured by insurance giant Chubb, per Insurance Insider.

Persons: Dali, —, Francis Scott Key, John Miklus, Miklus, Costa Concordia's, You've, Cintia Nazima, Chubb, SCOR Organizations: Business, Insurance, Service, American Institute of Marine Underwriters, Costa Concordia, Maryland Transportation Authority, Wall, P Global, Britannia Locations: Costa Concordia, Tuesday's Baltimore, Costa, Italy, Baltimore, Dali's Baltimore, Britannia, London, Suez

☆ AI-generated voices of dead shooting victims are sending gun-control pleas to lawmakers
▼ + stars: | 2024-02-19 | by ( Faith Karimi | ) edition.cnn.com time to read: +8 min

We have tried almost every single way to approach gun violence in a way that people will pay attention. There have been 50 mass shootings in the United States so far this year, according to the Gun Violence Archive. Brett Cross says he's unfazed by critics who are against the use of AI-generated voices of children killed by gun violence. But earlier this month, it announced that robocall scams using AI-generated voices are a violation of telecommunications law. He says some parents who’ve lost children to gun violence were reluctant to take part in the project.

Persons: CNN — Joaquin Oliver’s, Marjory Stoneman, “ It’s, ”, ” Manuel, Patricia Oliver, Joaquin, Marjory Stoneman Douglas, Cody Jackson, “, Manuel Oliver, Uzi, Garcia, Mitch Renfro Uzi Garcia, “ I’m, Brett Cross, he’s, he's unfazed, Nuri Vallbona, Ethan Song, Akilah Dasilva, Mike Baughan, Jaycee Webster, Uzi Garcia, Jordan Vonderhaar, Biden, ’ landlines, Oliver, they’re, Alex Quilici, ’ —, Robert Wahl, ” Manuel Oliver, who’ve, It’s Organizations: CNN, Capitol, Marjory Stoneman Douglas High School, Parkland, Kansas City, Robb Elementary School, Reuters, Maryland, Federal Communications Commission, New, Telephone Consumer, Concordia University Wisconsin, Hollywood Locations: Parkland, Parkland , Florida, Florida, Kansas, United States, Uvalde , Texas, Connecticut, Tennessee, Maryland, New Hampshire

☆ Icon of the Seas: Why Americans Are Obsessed With Big Cruise Ships
▼ + stars: | 2024-01-25 | by ( Henry Wismayer | ) www.businessinsider.com time to read: +17 min

Love them or loathe them, giant cruise ships are among the most remarkable success stories of the mass tourism age. Rechristened the Mardi Gras, the first Carnival cruise ship sailed out of Miami that March. Cruise ships like the Icon of the Seas will spend the majority of their trip at sea. Eight years later, cruise ships such as the Diamond Princess became early incubators for COVID-19. Cruise Market Watch forecasts there will be 360 cruise ships in service at the end of this year, comprising less than 1% of the global commercial fleet.

Persons: Ted Arison, Arison, Pieter De Boer, Costa, Diamond, Aaron Saunders, We've, Sue Bryant, Z, sass, Emma Le Teace, YouTuber, David Foster Wallace, Harper's, Sarah Knorr, Bryan Comer, Karla Hart, Hart, Saunders, it's, Henry Wismayer Organizations: Port, Passengers, Mardi Gras, Mardi, Gras, Cruise, Royal Caribbean, Costa Concordia, Cruise Lines International Association, Broadway, CivicScience, Royal, Virgin, Business, Transport & Environment, Getty, International Council, Global Cruise, Global Cruise Activist Network, Cruise Market, Royal Caribbean International, New York Times, National Geographic, Financial Times Locations: Port of Miami, Caribbean, Miami, The Port, Tuscany, Italy, Royal Caribbean, TikTok, Panama, Bahamas, Brussels, Netherlands, Douarnenez, Venice, Dubrovnik, Croatia, Amsterdam, Juneau , Alaska, Skagway , Alaska, CocoCay, London

People who claimed the power to control nature and the energy resources around them saw the environment as a tool to be used for progress, historians say. Over hundreds of years, that impulse has remade the planet's climate, too — and brought its inhabitants to the brink of catastrophe. Tapping nature for its resources drove progress and productivity for some, but it's also been a major driver of emissions and environmental degradation. By the mid-19th century, steam power was adopted in manufacturing, cotton mills, steam ships and locomotives around the world, turning coal into a global trade. Centuries later, the United Kingdom has nearly weaned itself off coal, with weeks or months at a stretch where the national grid gets no coal power.

Persons: ”, Luis Zambrano, it's, Anya Zilberstein, ” Zilberstein, Vera S, Candiani, Jan Golinski, “, ” Golinski, Deborah Coen, Andreas Malm, Barak, it’s, J.R, McNeill, ” McNeill, Victor Seow, Elizabeth Chatterjee, “ Indira Gandhi, Chatterjee, Joshua Howe, Howe, Yale's Coen, —, ” Howe, Fredrik Albritton Jonsson, Jonsson Organizations: National University Autónoma, Concordia University, Mexico City —, America, Princeton, University of New, Yale, Lund University, Tel Aviv University, Laboratory, Global, Project, Energy, Georgetown University, Communist, University of Chicago, Reed College, . Environmental Protection Agency, U.S, AP Locations: Nations, Mexico, Lake Texcoco, Montreal, Spanish, University of New Hampshire, Maui, Britain, Sweden, ”, India, Egypt, Nigeria, Ottoman Empire, United Kingdom, Cumbria, England, Wales, Scotland, China, Japan, U.S, Europe, United States, British, Portland , Oregon

Today, they facilitate the connection to the spiritual world she needs to help fellow refugees and their American-raised children who seek restoration of lost spirits. Male heads of households who embrace traditional animist practices perform soul-calling ceremonies, venerate ancestor spirits and invoke the protection of good spirits. On a farm north of St. Paul, Moua Yang runs the hog butcher shop he started working on with his father when he was a child. “It’s ingrained in me,” said Vue, who was born in St. Paul. “Spiritual world is confusing, but once you find a path, everything is natural,” Chad Lee said.

Persons: Mee Vang Yang, ”, Tzianeng Vang, Vang Yang’s, He's, Lee Pao Xiong, Paul, haven’t, Xiong, Moua Yang, “, it’s, Yang, Sai Vue, Vue, Janessa Moua, she’s, ” Moua, Txongpao Lee, Lee, Hlee Xiong Lee, they’re, Kevin Lee, Chad Lee Organizations: PAUL, Communist, Center, Hmong Studies, Concordia University, St, Twin Cities, Hmong Cultural, Lutheran, Press, Lilly Endowment Inc, AP Locations: Laos, Minnesota, China, Cambodia, Vietnam, United States, Thailand, California, St, Southeast Asia, Wisconsin, Paul’s

☆ Canada's unprecedented housing crisis could be a warning sign for the US
▼ + stars: | 2023-11-22 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

The country is also almost certainly heading towards a recession — if it's not already in one — and the housing market is partly to blame, economists say. But immigration is just one of many factors at play — Canada's housing crisis far preceded the rise in immigration. Stillo believes Canada's housing bubble has been slowly "deflating" for the last 18 months, despite an upswing in prices earlier this year. But there isn't consensus on if and when Canada's housing bubble will burst — or even if there is a bubble. While housing prices have flattened recently as demand softens, he says they show no sign of significantly declining.

Persons: —, it's, Mosche Lander, haven't, Mike Moffat, Tony Stillo, Moffat, Lander, Stillo, they're Organizations: Service, Concordia University, Smart Prosperity, University of Ottawa, US, Oxford Economics, America, Bloomberg Locations: Canada, Canadian

Assistant U.S. Attorney Adam Deitch said in court that Waithe's scheme victimized at least 50 women. Waithe worked at Northeastern from October 2018 to February 2019, when the university fired him, and had previously coached at Penn State University, Illinois Institute of Technology, University of Tennessee and Concordia University Chicago. Prosecutors said Waithe sent the women nude or semi-nude photos he had stolen and requested they send additional ones so he could conduct "reverse image searches." But, with the help of a hacker, Waithe stole nude pictures of one of the Northeastern athletes stored on her Snapchat account and cyberstalked her, Deitch said. While some ignored his emails, at least 17 women responded, sending him 350 nude or semi-nude photos, according to the indictment.U.S.

Persons: Steve Waithe, Adam Deitch, Deitch, Waithe, Prosecutors, Patti Saris, Jane Peachy, Nate Raymond, Will Dunham, Alexia Garamfalvi Organizations: BOSTON, Northeastern University, U.S, Northeastern, Penn State University , Illinois Institute of Technology, University of Tennessee, Concordia University Chicago, Prosecutors, Thomson Locations: Boston, Waithe, Northeastern, U.S

☆ Taiwan's former U.S. envoy, vilified by China, is named vice presidential candidate
▼ + stars: | 2023-11-20 | by ( ) www.cnbc.com time to read: +4 min

Representative to the United States, Taipei Economic and Cultural Representative Office T.H. Lai, vice president and the ruling Democratic Progressive Party's (DPP) presidential candidate, has led in most opinion polls ahead of the election, which is taking place as Taiwan comes under increased pressure from China to accept its sovereignty claim. The United States, as with most countries, has no formal ties with Taiwan, but is the island's most important international supporter and arms supplier. 'INDEPENDENCE ACT'Like Lai, Hsiao is despised by China, which has twice placed sanctions on her, most recently in April, saying she was an "independence diehard". The DPP's smooth handling of its vice presidential nominee stands in contrast with efforts by Taiwan's two main opposition parties to agree on a joint ticket.

Persons: Hsiao, Lai Ching, Lai, Democratic Progressive Party's, Rupert Hammond, Chambers, Chen Shui Organizations: Cultural, T.H, Sheraton, Democratic Progressive, U.S ., Taiwan Business Council, Reuters, The, ACT, Taiwan Affairs Office, DPP, Kuomintang, KMT, Taiwan People's Party, Facebook Locations: United States, Taipei, Sheraton New York, New York City, January's, Washington, Beijing, Taiwan, China, U.S, The United States, Japan

☆ Shots Fired at Jewish School in Canada Again, Amid Tensions Over Overseas Conflict
▼ + stars: | 2023-11-12 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

By Rich McKay(Reuters) - A Jewish school in Montreal was hit by gunfire early on Sunday, making it the third time in less than a week that a Jewish school in the Canadian city was hit amid heightened tensions over the conflict between Israel and Gaza, police said, according to local media. Bullet impact marks and bullet shells were found after residents heard gunfire early on Sunday, CBC News in Canada reported. At the two other schools in Montreal, both reported finding a bullet hole in their front doors Thursday morning, local media reported. It was unclear if the incidents at Jewish schools in the city's west end were related. The ensuing Israeli bombardment of the Hamas-run Gaza Strip has killed more than 10,000 people, Palestinian health authorities say.

Persons: Rich McKay, Mayer Feig, Andrea Ricci Organizations: Reuters, Sunday, CBC News, Concordia University, Hamas Locations: Montreal, Canadian, Israel, Gaza, Canada, Quebec, Toronto, Palestinian, Atlanta

☆ Shots fired at Jewish school in Canada again, amid tensions over overseas conflict
▼ + stars: | 2023-11-12 | by ( Rich Mckay | ) www.reuters.com time to read: +1 min

Nov 12 (Reuters) - A Jewish school in Montreal was hit by gunfire early on Sunday, making it the third time in less than a week that a Jewish school in the Canadian city was hit amid heightened tensions over the conflict between Israel and Gaza, police said, according to local media. Bullet impact marks and bullet shells were found after residents heard gunfire early on Sunday, CBC News in Canada reported. At the two other schools in Montreal, both reported finding a bullet hole in their front doors Thursday morning, local media reported. It was unclear if the incidents at Jewish schools in the city's west end were related. The ensuing Israeli bombardment of the Hamas-run Gaza Strip has killed more than 10,000 people, Palestinian health authorities say.

Persons: Mayer Feig, Rich McKay, Andrea Ricci Organizations: Sunday, CBC News, Concordia University, Hamas, Thomson Locations: Montreal, Canadian, Israel, Gaza, Canada, Quebec, Toronto, Palestinian, Atlanta

☆ Canada PM Trudeau condemns violence after shots fired at Jewish schools
▼ + stars: | 2023-11-09 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

Canadian Prime Minister Justin Trudeau holds a press conference on the sidelines of the UNGA in New York, U.S., September 21, 2023. REUTERS/Mike Segar/File Photo Acquire Licensing RightsOTTAWA, Nov 9 (Reuters) - Canadian Prime Minister Justin Trudeau on Thursday condemned recent violence as unacceptable after shots were fired at two Jewish schools in Montreal overnight and clashes between students at a university in the same city late on Wednesday. Police on Thursday said were investigating overnight shootings at two Jewish schools in Montreal. "I understand that people are so profoundly disturbed by what they see happening there," Trudeau told reporters in the Montreal area on Thursday. However, "violence, hate, anti-Semitism, Islamophobia and scenes such as the ones we saw in Concordia University or shots fired at Jewish schools overnight - all of that is unacceptable," he said.

Persons: Justin Trudeau, Mike Segar, Trudeau, Ismail Shakil, Jenna Zucker, Steve Scherer, Daniel Wallis Organizations: Canadian, REUTERS, Rights OTTAWA, Wednesday . Police, Concordia University, CBC News, Hamas, Thomson Locations: New York, U.S, Montreal, Israel, Gaza, Toronto, Palestinian, Ottawa

☆ Shein Turns to Western Executives to Become Even More Global
▼ + stars: | 2023-11-02 | by ( Shen Lu | ) www.wsj.com time to read: 1 min

Frances Townsend recently joined Shein as a senior adviser on a six-month consulting contract. Photo: John Lamparski/Getty Images for Concordia SummitShein, known for its ultra-affordable clothes shipped from China, is enlisting top Western executives in its quest to go truly global. The China-founded retailer, which has become increasingly entangled in Beijing-Washington friction, has started making some of its products outside China and forged partnerships with Western brands. Now it is globalizing its leadership ranks as it looks to establish itself in its biggest markets, especially the U.S.

Persons: Frances Townsend, John Lamparski Organizations: Concordia Summit, Western Locations: China, Beijing, Washington, U.S

☆ Explainer: What's at stake as Alberta seeks to split from Canada Pension Plan
▼ + stars: | 2023-11-01 | by ( Maiya Keidan | ) www.reuters.com time to read: +4 min

TORONTO, Nov 1 (Reuters) - Canadian Finance Minister Chrystia Freeland will seek to challenge Alberta Premier Danielle Smith's plan to pull her province out of the Canada Pension Plan (CPP), in a meeting with provincial and territorial counterparts on Friday. A nationwide pension scheme called CPP that took contributions from paychecks began in the late 1960s. CPP Investments - an entity to manage its assets - was created in 1997 by the Canada Pension Plan Investment Board Act. AIMCo has not been considered a vehicle for a new Alberta pension plan. If Alberta walks away with more than 22.5% of assets, CPP contributions from everywhere else in the country would have to increase, Tombe estimates.

Persons: Chrystia Freeland, Danielle Smith's, Justin Trudeau, Pierre Poilievre, paychecks, AIMCo, SMITH, Smith, Patrik Marier, Trevor Tombe, Tombe, Maiya Keidan, Deepa Babington Organizations: TORONTO, Canadian Finance, Canada, Conservative Party, CPP Investments, Plan Investment, Investments, Alberta Investment Management Corp, Concordia University, University of Calgary, British Columbia, Thomson Locations: Quebec, Alberta, Ottawa, ALBERTA, Western, Ontario

Jae Byun, 31, earns around $115,000 teaching math and coaching basketball at a high school in Orange County, California. Now seven years in, the 31-year-old earned $114,099 for the 2021-2022 academic year between teaching and coaching during the school year, teaching summer school and coaching over the summer in California's Fullerton school district. My parents taught me the value of money and that money doesn't grow on trees. Jae Byun"My parents taught me the value of money and that money doesn't grow on trees," Byun says. For the two summer months, he taught summer school and coached summer programs.

Persons: Jae Byun, didn't, Byun, Tristan Pelletier, Orange County Byun, I've, they've, weren't, Byun didn't, he's, Roth Organizations: CNBC, University of California, UC Irvine, California State University, Fullerton, Concordia University, U.S, National Education Association, Roth IRA Locations: Irvine, Orange County , California, California's Fullerton, Orange County, South Korea, Fullerton , California, U.S, California, Mississippi

☆ Investors want to know when Philip Morris' smoke-free shift will pay off
▼ + stars: | 2023-09-26 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

Anticipation should be building as Philip Morris prepares to bring iQOS back to the U.S. market. Philip Morris had partnered with Altria when iQOS was first launched in a handful of U.S. markets in 2019. Eventually, Philip Morris agreed to buy back the commercialization rights from Altria, and that deal is effective April 30, 2024. And this strategy is partly why, Herzog said, Philip Morris is one of Goldman's top picks. Last week, Philip Morris CEO Jacek Olczak spoke on X via ReutersPlus about its harm reduction efforts.

Persons: Philip, Goldman Sachs, Bonnie Herzog, Philip Morris, iQOS, Herzog, mgmt, Gaurav Jain, Jain, FactSet, Jacek Olczak, Jefferies, Owen Bennett, Bennett Organizations: Philip Morris International, Drug Administration, Altria, Barclays, Swedish Match, Bank of America, Rogue, Street Journal, Concordia, United Nations General Assembly Locations: U.S, Altria, New York

☆ Philip Morris considers selling stake in pharmaceuticals unit to boost healthcare division
▼ + stars: | 2023-09-20 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

Philip Morris International is considering selling off a stake in its largest pharmaceuticals unit. But more recently the division has struggled, and Philip Morris has had talks with Deutsche Bank on a range of options to try to grow its wellness and healthcare division, the WSJ first reported. In recent years, Philip Morris has also acquired Fertin Pharma, a nicotine gum maker, and OtiTopic, a respiratory drug maker. And, in the second quarter of this year, the company took a $680 million impairment charge related to its wellness and healthcare division. The news comes as the tobacco company continues to face resistance from public health groups.

Persons: Philip Morris, it's, Concordia, Philip Morris's Organizations: Philip Morris International, Marlboro, Deutsche Bank, WSJ, Fertin Pharma, PMI, Concordia, UN, Assembly Locations: New York

☆ Rothschild & Co's first-half sales fall 10% amid weak M&A activity
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File photoPARIS, Aug 3 (Reuters) - Rothschild & Co (ROTH.PA), the Paris-listed investment bank being taken private by its owners, reported on Thursday a 10% fall in first-half sales, driven by a plunge in dealmaking activity. Rothschild said its first-half net income, group share, nearly halved from a year earlier to 128 million euros. In a call with reporters, Managing Partner Francois Perol confirmed the investment bank expected net income to more than halve this year due to the sharp fall in dealmaking. He said the consortium that seeks to take the company private already owned more than 80% of the shares following the buyout offer valuing Rothschild at 3.7 billion euros. Concordia, the bank's controlling shareholder and holding company of the Rothschild family, was joined by three of France's wealthiest families in the take-private transaction.

Persons: Dado Ruvic, Rothschild, Francois Perol, Mathieu Rosemain, Susan Fenton Organizations: Rothschild, REUTERS, Rothschild & Co, Global, Concordia, Thomson Locations: PARIS, Paris, dealmaking, Rothschild

☆ Hmong cuisine and culture are having a moment in the US. We spoke with the restaurateurs and farmers driving innovation.
▼ + stars: | 2023-07-16 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +11 min

It marks a renaissance of sorts for the Hmong community, which has historically been insular. He also recently appeared on "Iron Chef" and was the first to serve Hmong food at the Minnesota State Fair. Though for decades, Xiong said Hmong businesses struggled to market outside the Hmong community. La Vang-Herr also opened her Hmong business in an area with few Hmong residents. Sean LeschMortchee's, a Hmong eatery in a former Wausau, Wisconsin, ice-cream stand, has also been a lifeline for the local Hmong community since opening earlier this year.

Persons: Yia Vang, Vang, James Beard, Kao Kalia Yang, Sunisa Lee, Lee Pao Xiong, Paul, Xiong, Peng Her, They're, We've, Diane Moua, Moua, Gemma Weston, Mai Vang, Pom, La, Herr, Sean Lesch Mortchee's, Sa Sor Lee, there's, Lee, Toua Xiong, we've, Pheng, we're Organizations: Service, Union Hmong, Minnesota, Fair, Google, Center, Hmong Studies, Concordia University, St, Pew Research Center, Hmong Institute, Twin Cities, Twin, American Farmers Association Locations: Wall, Silicon, Vang, Minneapolis, Oakland , California, Vietnam, Madison , Wisconsin, Minnesota, Twin, Siskiyou County, California, New York, Montague, Oregon, Portland , Oregon, Wausau , Wisconsin, Twin Cities, St

☆ Rothschild family buys 8.2 million shares of Paris-listed investment bank
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

July 6 (Reuters) - Concordia said on Thursday it had acquired all the shares it was permitted to acquire of Rothschild & Co (ROTH.PA), paving the way for the Rothschild family's holding company to open an offer to take the investment bank private. Concordia said it bought 8.18 million shares of Rothschild at 46.60 euros per share. The opening of an offer to delist the bank will take place following a clearance decision from the French market regulator AMF. The Rothschild family said in February it was seeking to take the bank private. The bank, led by Alexandre de Rothschild, said total group revenue over the first three months of 2023 fell to 606.2 million euros ($667.30 million) from 675.3 million euros in 2022.

Persons: Concordia, Rothschild, Alexandre de Rothschild, Chandni Shah, Juby Babu, Shailesh Organizations: Rothschild & Co, Rothschild, AMF, Thomson Locations: Bengaluru

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