Bank of N.T. Butterfield announced it will acquire CIBC's 91.7% stake in CIBC Caribbean Bank Limited for approximately $1.8 billion, combining cash and shares. This acquisition aims to create a larger banking and wealth management platform in the Caribbean with around $29 billion in assets, enhancing service capabilities and cross-border solutions. The deal is expected to close in early 2027, pending approvals, and is projected to boost earnings per share by about 12% in the first year, with significant cost savings by 2030. This strategic move strengthens Butterfield's position in the Caribbean market and expands its operational footprint.
Peec AI, an AI search analytics platform, surpassed $10 million in annual recurring revenue just 16 months after launch, doubling revenue in the last five months. The company is expanding rapidly, opening its first US office in New York to meet growi...
The National Crime Prevention Council (NCPC) has called on lawmakers to reject the House's Kids Internet and Digital Safety Act (H.R. 7757), criticizing it as insufficient for protecting children online. NCPC argues the bill weakens state powers and ...
Fannie Mae has started marketing a sale of approximately 2,333 reperforming loans with an unpaid principal balance of about $565 million. These loans were previously delinquent but have since become current. Buyers must offer loss mitigation options,...
Shares of Unusual Machines Inc. (UMAC), where Donald Trump Jr. is a shareholder and board member, surged after reports that the Pentagon is discussing direct financial support and equity stakes in domestic drone manufacturers. The funding talks invol...
REalloys has signed a 15-year agreement to secure 15% of Phase 1 production from the Tanbreez heavy rare earth project in Greenland, one of the largest Western-aligned deposits. This deal strengthens US efforts to reduce dependence on Chinese rare ea...
