Profit

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

Shares in Deutsche Bank fell sharply Friday, dragging down other major European banks and leading German Chancellor Olaf Scholz to express confidence in the country’s largest lender after fears about the global financial system sent fresh shudders through the market. Deutsche Bank shares were down 8.8% in late-afternoon trading on the German stock exchange after falling as much as 14%. That followed a steep rise in the cost to insure bondholders against the bank defaulting on its debts, known as credit default swaps. Rising costs on insuring debt were also a prelude to Swiss lender Credit Suisse’s government-backed rescue by rival UBS. That hastily arranged takeover Sunday aimed to stem the upheaval in the global financial system after the collapse of two U.S. banks and jitters about Credit Suisse’s long-running troubles led its shares to tank and customers to pull out their money. Asked whether Deutsche Bank could be the next Credit Suisse, Scholz said, … [Read more...] about What’s happening at Deutsche Bank? Stock drops amid fears that banking crisis will get worse