Author: Press Room
A firm owned by one of Canada’s richest clans has invested $622 million in wealth firm Rockefeller. The Desmarais and Rockefeller clans have close ties and both are known in politics and philanthropy. Both heirs are increasing their stakes in the wealth manager, pushing its valuation to $3 billion. Two of North America’s richest families have partnered up to invest in wealth management powerhouse Rockefeller Capital Management.The Desmarais family, one of Canada’s richest families, began negotiations in earnest in November with the five-year-old firm, which was born from the family office of the Rockefeller heirs. But the family has known…
Jawed Karim posted the first-ever YouTube video called “Me at the zoo” 18 years ago. The YouTube cofounder uploaded the grainy video a month before YouTube’s beta launch in May 2005. Since leaving the company in 2005, Karim has become a vocal critic of new changes to the platform. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Eighteen years ago, a guy named Jawed Karim posted the first-ever video to YouTube. The 18-second video, entitled “Me at the zoo,” features Karim, a YouTube cofounder,…
Dear readers/followers, Ericsson (NASDAQ:ERIC) is one of those companies I get a lot of requests about, but I choose to write relatively few articles on the company. My last one was over half a year ago, and despite being bullish at the time, I made it clear that I do not own significant amounts of Ericsson directly, and would not consider doing so at the time. The upside for Ericsson is there – because the company is a worldwide giant with a portfolio of assets and patents that give it a significant upside – but we also have to consider…
Civil unrest has caused more than $10bn of insurance and reinsurance losses across the globe since 2015 compared with less than $1bn from terrorist attacks, spooking underwriters and fuelling a surge in the cost of cover.The figures are included in a report from insurance broker Howden that explores how “rising discontent”, driven by the increasing cost of living and other social pressures and stoked by social media, has driven up the frequency and size of claims on strikes, riots and civil commotion insurance. This typically covers property owners against damage in such episodes. “We have gone from a relatively loss-free…
Vice President Kamala Harris traveled to Nashville on Friday where she delivered an impassioned speech advocating for gun control and met with a pair of state lawmakers who were expelled from the General Assembly after protesting on the state House floor. “Let’s not fall for the false choice, which suggests that you’re either in favor of the Second Amendment or you want reasonable gun safety laws, we can and should do both,” Harris said in her remarks at the Fisk University chapel. “The underlying issue is one that we are witnessing, over and over again, this community experienced it firsthand…
“‘Steve taught me well: never to get married to your convictions of yesterday. To always, if presented with something new that says you were wrong, admit it and go forward instead of continuing to hunker down and say why you’re right.’” — Tim Cook, CEO of Apple That is one key life lesson that Tim Cook, CEO of Apple AAPL, +0.55%, says he learned from the inimitable Steve Jobs before the founder of the Cupertino, Calif.-based company died in 2011. Cook made the remark in an interview with GQ, published online April 3, in which the current Apple leader offered…
Apple founder Steve Jobs has continued to inspire since he passed away in 2011. Just this week, in fact, Tim Cook — Apple’s AAPL, +0.55% current CEO — mused in a GQ interview on life lessons that he learned from his predecessor. And now anyone who wants to get an intimate glimpse of Jobs’s wisdom and reflections on his life, which was cut short in 2011 when he was just 56, will be able to download a curated collection of his personal correspondence, speeches and interviews on April 11 — for free. ““He has been written about, but this is…
When you buy a bag of potato chips from the neighborhood grocery store, how much of your money goes toward growing the potatoes and how much covers shipping the chips to the store? A new report from the U.S. Government Accountability Office answers those questions and examines the factors that affect retail food prices. It comes as grocery-store shoppers have been coping with bigger checkout bills: While food prices typically rise about 2% annually, they shot up 11% between 2021 and 2022 — the biggest annual jump in 40 years, according to the U.S. Department of Agriculture. Here’s a look…
The Biden administration is reportedly days from proposing the toughest-ever U.S. limits on emissions from cars, SUVs and pickup trucks, but will likely stop short of a ban on gas-powered vehicles and a mandate to buy electric. The proposed standards on cars and light trucks is set to be announced Wednesday in Detroit, according to a report Thursday from Bloomberg News, which cited unnamed officials familiar with the regulation proposals. The proposal is expected to govern tailpipe emissions of carbon dioxide, smog-forming nitrogen oxide and other pollution from vehicles manufactured for model years 2027 through 2032. Even with federal rules…
© Reuters. FILE PHOTO: A electric vehicle charger is seen as a vehicle charges in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew Kelly By David Shepardson WASHINGTON (Reuters) – Used electric vehicle sales in the United States rose 32% in the first three months of 2023 as prices fell, data provider Cox Automotive said on Friday. The group said the average retail listing prices for used EVs was around $43,400, down 4% from the same quarter last year and significantly below the average new EV price of about $59,000. The group said used EV prices were probably cut due…
