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Share to Twitter Share to Linkedin North Carolina’s First Citizens Bank doubled its size with the stroke of a pen in the early hours of Monday morning with its landmark FDIC-assisted acquisition of Silicon Valley Bank , and nobody will reap the rewards more than the family that has orchestrated its growth for the last century. Chairman and CEO Frank Holding Jr. and his four sisters Olivia Holding, Hope Bryant, Carson Brice and Claire Bristow collectively own about 20% of First Citizens’ stock and have close to 50% voting power in the company, according to SEC filings, for a cumulative stake worth $2.7 billion thanks to Monday’s 54% stock gain following the deal. The surge erased all of the stock’s year-to-date losses in the regional bank selloff stemming from SVB’s failure and contagion fears. Raleigh-based First Citizens and the Holding family have kept a low profile for decades, but the family-owned bank has been on a mission to expand nationwide via … [Read more...] about SVB’s New Owners, The Billionaire North Carolina Family Behind First Citizens, Are Quietly Building A Banking Empire

Companies founded by women received less than 2% of venture capital funding in 2022— a decline from the year before. However, when women-led startups are funded, research has shown that they generate more in cumulative returns, compared to those led by men. A new VC fund aims to take this lesson to women’s sports. On Monday, venture capitalists Kara Nortman and Jasmine Robinson announced the close of a $100 million fund, the Monarch Collective, with a mission to “accelerate equity in global sport.” Nortman is a former partner at the Los Angeles-based venture capital firm Upfront Ventures. Robinson was a partner at Causeway, a fund focused on sports, media, and entertainment. The Monarch Collective, founded in January, will focus on investing in women’s teams and leagues, along with adjacent industries, such as media and gaming. The duo say they are initially considering investments in women’s soccer teams in the U.S., and in women’s teams and leagues in sports such … [Read more...] about The Monarch Collective unveils $100 million fund to bring equity to women’s sports

Ben Cohen of Ben & Jerry’s is telling me a story about smoking pot. We’re on Zoom, and he says: “The idea came about when I was on a camping trip with a friend of mine, sitting around a fire, smoking a joint. And we were saying, ‘Wouldn’t it be nice to have pot like the old days?’” The idea Cohen is referring to is his latest venture, the eponymously named Ben’s Best Blnz , or B3. The just-launched company is a bright, bold cannabis brand that offers low-THC pre-rolls and full-spectrum vapes. Much like his endeavors in ice cream, Cohen set out to use B3’s platform as a conduit for what he refers to as “social benefit.” B3 is registered as a nonprofit, with 100% of its profits split between three entities: 10% will go to the Last Prisoner Project , an organization dedicated to freeing individuals impacted by cannabis criminalization; another 10% will be donated to the Vermont Racial Justice Alliance , whose mission is to “secure sustainable power, ensure … [Read more...] about Ben of Ben & Jerry trades ice cream for cannabis

A delicate outline of a house has materialized in the icy darkness of Antarctica. Like a child’s line drawing built at full scale, stainless steel pipes have been welded together into the shape of a typical house from a Ukrainian village. It’s an art installation at the Ukrainian Vernadsky Research Base in Antarctica, where scientists and researchers spend months studying the polar environment in near isolation and thousands of miles from home. Since the full-scale Russian invasion of Ukraine more than a year ago, this remove has made the experience even more lonely. The installation is called Home. Memories , and seeks to make the station a home away from home for the polar researchers. Designed by Kyiv-based architecture firm Balbek Bureau , the rectangular shape of a rural house is rendered in thin stainless steel tubes, with quaintly decorated windows, a shallow pitched roof, and a chimney. Based on a composite of homes typical of the Ukrainian … [Read more...] about This polar art installation is a stunning ode to Ukraine

HONG KONG  -Asian and European markets traded higher on Tuesday, as fears of a banking crisis eased thanks to the sale of fallen lender Silicon Valley Bank. News that North Carolina-based First Citizens Bank had agreed to take over most of SVB boosted European stocks and Wall Street on Monday. The gains were led by banking shares, following a rout last week over concerns that the turmoil in the sector could hit other major institutions, such as German giant Deutsche Bank. Hong Kong and Tokyo closed higher, while Sydney, Singapore and Seoul also gained. Shanghai was down, however. European equities were also higher in early trade, with London, Frankfurt and Paris all in positive territory. Ray Attrill, head of FX strategy at National Australia Bank, said Tuesday that the acquisition by First Citizens had “helped set a positive tone” in global markets. SVB deal helps to steady banks amid credit crunch concerns “Together with the absence of new scare stories over … [Read more...] about Asian, European markets rise as banking crisis fears ease

Cast members Jennifer Aniston and Adam Sandler arrive at the Los Angeles premiere of “Murder Mystery” at the Regency Village Theatre on Monday, June 10, 2019 in Westwood, Calif. Image: Jordan Strauss/Invision/AP LOS ANGELES — When it came to their kissing scenes in Netflix’s “Murder Mystery,” Jennifer Aniston had one requirement of co-star Adam Sandler. “I did have him learn to oil the beard up a little bit,” the actress said in a joint interview this week. “Conditioned.” Sandler said kissing his longtime friend on camera isn’t all that awkward, except when his wife Jackie and children are on set encouraging him a little too much. “The only awkward part is hearing my wife on the side going, ‘Harder! Harder! Kiss her harder! Deeper!” he joked. “They (Jackie and the kids) watched the kissing. They love it. They love Aniston, and they want her to have good things and they say, ‘Give her something nice.'” “That was awkward,” Aniston said. “Murder Mystery” follows a longtime … [Read more...] about Jennifer Aniston to Adam Sandler before kissing scenes: ‘Oil up the beard’

Jennifer Aniston attends the world premiere of “Dumplin'” at TCL Chinese Theatre on Thursday, Dec. 6, 2018, in Los Angeles. Image: Richard Shotwell/Invision/AP LOS ANGELES — Jennifer Aniston calls it “amazing” that “Friends” still has an audience big enough to prompt multi-million dollar business deals to keep it from disappearing on Netflix. “I find it amazing that it’s continued to have such love and such an audience and such an appetite for it,” Aniston told The Associated Press Thursday at the premiere of her Netflix film “Dumplin”. After an outcry from fans, Netflix announced earlier in the week that it was keeping the adventures of Ross, Rachel, Phoebe and Joey available to subscribers through 2019 — at a reported $100 million (around P5.2 billion) price tag to the streaming service. READ: ‘Friends’ staying on Netflix through 2019 “I think it says a lot about the show. Especially since it takes place at a time where it’s so different from now. You know, people … [Read more...] about Jennifer Aniston: Netflix ‘Friends’ deal a testament to show’s value

FILE PHOTO: Drone footage over Bakhmut, Donetsk region shows devastation amid fierce fighting during Russia’s ongoing invasion of Ukraine in this still image obtained from social media video released March 26, 2023. 93rd Mechanized Brigade “Kholodny Yar” via REUTERS KYIV — Ukraine is aiming to exhaust and inflict heavy losses on Russian forces trying to capture the small eastern city of Bakhmut, the commander of Ukrainian ground forces said in a video posted on Tuesday. In a video showing him addressing soldiers in what appeared to be a large industrial warehouse, General Oleksandr Syrskyi said Russia was continuing to focus on the Bakhmut area after months of battle. Moscow sees capturing Bakhmut as vital to its efforts to establish complete control over the Donbas industrial region in eastern Ukraine. “They do not stop trying to surround and capture the city,” Syrskyi said in the video posted on the Telegram messaging app. “As of today, our main task is to wear down the … [Read more...] about Ukraine aims to exhaust Russian troops in Bakhmut–general

Passengers of a pick-up truck barely escaped a landslide that hit Gingoog City-Claveria-Villanueva Road in Misamis Oriental. Their near-death experience was captured on the vehicle’s dash camera. RELATED ARTICLES: ‘Worst commuting experience:’ Student claims laptop damaged at MRT-3’s x-ray | INQStories BI apologizes to Filipina in viral immigration rant for ‘inconvenience’ | INQStories Man turns casket into sizzling ‘coffin grill’ | INQStories Meet the man preserving the art of street box photography | INQStories Behind the success stories of online freelancers | INQStories It’s thrice the fun – siblings share same birthday | INQStories ‘Lolo vlogger’ celebrates having 300 subscribers, gains 56,000 more | INQStories Your subscription could not be saved. Please try again. Your subscription has been successful. … [Read more...] about WATCH: Landslide caught on camera in Misamis Oriental | INQStories

A capture of the video of the suspect approaching a victim’s car. (Jeonbuk Provincial Police Agency via The Korea Herald/Asia News Network) SEOUL — A woman in her 30s was apprehended by the police on suspicion of deceiving drivers into believing she was hit as a pregnant woman pedestrian at least 103 times. Jeonju Wansan police are investigating traffic accident fraud cases where a woman was suspected to have received at least 27 million won ($20,700) from drivers and insurance companies by deliberately colliding with passing cars with her wrist or ankle, according to the police on Monday. The fraudulent accidents had been occuring since October 2018 across South Korea including Jeonju in North Jeolla Province, Gwangju and Busan. The police caught the woman’s fraudulent activity while investigating a traffic accident case in Jeonju last October. The police found that the suspect pretended to be pregnant to draw sympathy from the victims and mainly targeted women drivers for … [Read more...] about Woman faking pregnancy caught for $21,000 traffic accident fraud