1688224827 Huge banks raise dividends after passing Fed stress test

Huge banks raise dividends after passing Fed stress test

Five of the largest US banks said on Friday they will return more money to shareholders after passing Federal Reserve stress tests earlier in the week. This is a sign of strength, widening the gap between the industry giants and smaller regional competitors.

JPMorgan Chase (JPM), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), and Citigroup (C) each announced plans to increase their quarterly dividends, with increases ranging from 2 cents to 25 cents. Goldman’s was the largest and Citigroup’s the smallest.

Many also referred to the results of its regulatory reviews, which the Fed released on Wednesday after assessing whether 23 institutions could weather a severe global recession with 10% unemployment and a 45% stock market plunge.

Shareholders were not allowed to withdraw cash from the banks until they received a pass grade.

Morgan Stanley CEO James Gorman said Friday that the results “demonstrate the resilience of our transformed business model.” Citigroup CEO Jane Fraser said they “demonstrate Citi’s financial resilience.” Goldman CEO David Solomon said, “We are pleased with the progress we have made in reducing the capital intensity of our business.”

Jamie Dimon, CEO of JPMorgan, which heads the country’s largest bank, said the tests showed banks were “resilient” and “continued to serve as a pillar of strength for the financial system and the broader economy.”

Bank of America (BAC), the country’s second-largest bank, made no announcement on Friday.

Jamie Dimon, chairman and CEO of JPMorgan Chase & Co., appears before a House Financial Services Committee hearing

Jamie Dimon, CEO of JPMorgan Chase. (AP Photo/Andrew Harnik)

US bank stocks ended June with their best performance in months. The KBW Bank Index closed up more than 5% on Friday, while the KBW Regional Bank Index gained 3%.

No regional bank that passed the Fed’s test announced dividend increases on Friday, including PNC (PNC) and US Bancorp (USB). Truist (TFC) said it will maintain its current dividend. Many regional bonds exited the Fed review with smaller buffers than their major peers.

The story goes on

The bank identified by the Fed with the lowest capital buffer was Citizens Financial (CFG), a regional bank based in Rhode Island.

The company released a statement on Friday saying it would continue a $1.3 billion share buyback program, but made no announcement of a potential dividend payout.

“We are pleased that the results of the Federal Reserve’s stress test demonstrate Citizen’s strong capital position,” said John Woods, Citizens’ CFO. “Additionally, we take comfort in the fact that the results of our corporate stress tests imply a significantly lower capital requirement than the Federal Reserve’s models.”

The bank with the highest capital ratio in the Fed’s “very adverse scenario” was Charles Schwab (SCHW), one of the lenders that came under intense investor scrutiny earlier in the year, while other banks stumbled.

“With anticipated changes in regulatory expectations and capital requirements, going forward we will provide updates on our capital planning and capital management priorities as conditions and requirements evolve,” Schwab CFO Peter Crawford said on Friday.

Banks are still preparing for new higher Fed capital requirements, which will force some of them to hold even larger buffers against losses.

Those tougher rules were already in the works before several regional banks collapsed in the spring, but regulators have made it clear in the wake of these troubles that they wanted to ensure their new approach could be applied to mid-tier institutions of a similar size in the First Republic or a Silicon Valley bank, which were among the banks that failed this spring.

Both had assets of more than $200 billion at the time of their bankruptcy.

For investors, “it seems safe to hit the water after this stress test, but definitely don’t turn your back on these two more waves of regulation coming your way,” Wells Fargo banking analyst Mike Mayo told Yahoo Finance.

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Advice Carolyn Hax Does motive matter when interviewing a.jpgw1440

Advice | Carolyn Hax: Does motive matter when interviewing a friend’s uptight spouse?

Comment on this storyComment

Adapted from two online discussions, here and here.

Dear Caroline: When my best friend got married, my reaction to choosing her spouse was, “Huh?” [picture my head cocked]. My own spouse was also confused: He’s not a villain; but none of us ever got along with him.

Over the years I’ve secretly wished they would divorce. I’ve watched him freak out on my boyfriend about something that wasn’t my boyfriend’s fault; and she even said, “God, he’s controlling.” He’s what I would call badly wounded.

My question is: how do I know if I really want my girlfriend to be happy, regardless of what I think of her choices? or if I just want to be “right”? do you have a formula

I wish: I typed a very complicated answer and then deleted it. Just be there for your friend. Tell her you answer her calls 24/7. And when she says, “God, he’s controlling,” respond with, “I was wondering—what do you think you’re going to do?” Perfect world.” Ask her what she thinks, does, and intends to do about the problem. What she wants from you. Be patient and be the place where she can talk. Pay attention to how she is doing. For more information, visit the National Domestic Violence Hotline www.thehotline.org

Dear Caroline: My daughter is 15 and has her first serious boyfriend, a high school classmate. The whole family likes him appropriately. He’s not “the son I never had” and I don’t treat him like a future father-in-law, but I think he’s a nice boy and I’m glad my daughter is going into a relationship with someone who it’s nice to her.

My daughter has been feeling really bad lately because she’s becoming interested in someone else around her – a neighbor of ours who’s about a year older and goes to a different school. She told me she feels like a bad friend because she looks forward to talking to this other kid more than she does to her boyfriend. She feels so guilty; she feels like she is cheating.

It seems to me she’s losing interest in her boyfriend; Puppy love has come to an end (I don’t use that term when talking to her). I believe that’s how the teenage years are meant to be, and I’d much rather watch her explore and meet new people than be tied to that one boy forever by laziness and laziness.

Should I just let it run its course? Is there a way to let her know that it’s okay to break up with her first boyfriend without being condescending?

oh sweetie Her: I feel like a bad friend because I look forward to talking to this other kid more than my boyfriend.

Her: Yes, that’s all normal. I’m sorry. What do you think you will do?

She: [Some version of “I don’t know,” or, “Stay because he’s my boyfriend.”]

Her: It’s okay to wait and see how you feel. What would you expect from him if he fell in love with someone else? How would you like to be treated?

Questions are your friend. In their own way, they are a clear guide, but not incompatible with letting things take their course.

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USMNTs Tim Weah completes Juventus move from Lille ESPN

USMNT’s Tim Weah completes Juventus move from Lille – ESPN – ESPN

ESPNJ1. Jul 2023 10:38 am ET3 Minute Read

Would a move to Juventus be the wrong move for Tim Weah?

Julien Laurens and Nedum Onuoha wonder if Timothy Weah would be a regular for Juventus.

Juventus have completed the signing of US winger Timothy Weah from Lille, the Serie A club announced on Saturday.

Weah, 23, played at full-back for Lille for most of last season, although he plays as a right winger for the USMNT. He has made 107 appearances and scored eight goals since joining the French side from rivals Paris Saint-Germain in 2019. He also helped Lille win the Ligue 1 title in 2022 and the Tropheé des Champions in the same year.

– Stream on ESPN+: LaLiga, Bundesliga and more (USA)
– When does the summer transfer window open and close?

Weah joined PSG’s academy in 2014 after moving to France from the United States and made five appearances for PSG’s senior team from 2017-19 – including two league titles. He was also loaned to Celtic for the second half of the 2019 season, where he won the Scottish league title.

John Dorton/USSF/Getty Images for USSF

He has been an important part of the USMNT since his senior debut in 2018. At the 2022 World Cup in Qatar, he started all four games and scored a goal in the opening game of the group stage against Wales. Overall, he has 31 appearances and four goals for the US team.

Weah is now the second USMNT star in the Juventus squad alongside Weston McKennie. However, it remains to be seen if the two will share the Juventus spot as McKennie is being linked with a move following his loan spell at Leeds United.

It had been a tough season for the Juventus owners, players and lawyers last season, with the club failing to lift a trophy or qualify for next season’s Champions League as they struggled in Serie A deducted 10 points due to an incorrect accounting case.

Weah is the son of former FIFA Player of the Year and current President of Liberia George Weah. Tim Weah was born in New York and played for New York’s Red Bull academy before joining PSG.

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This discreet turn of China on the subject of the

This discreet turn of China on the subject of the war in Ukraine Atlantico

Mikhail Mishustin, Russian Prime Minister and Li Qiang, Chinese Prime Minister in Beijing / ALEXANDER ASTAFYEV / SPUTNIK / AFP

Atlantico: The recent events in Russia with Prigozhin must be deeply worrying for China, you say. For what ?

Rudolph Moritz: China has a keen interest in maintaining stable international relations, particularly with Russia. The latest attempt at mutiny revealed a significant weakness in Putin’s leadership and in the Russian state, adding to the complexity and worrisome for China. China has significant economic interests in maintaining stable relations with Russia. It also seeks international and regional cooperation with Russia, and political interests are at stake in their relations.

With Putin in power, it will be easier for China to engage with Russia. Putin and Xi Jinping, the Chinese leader, have met over 40 times and established a good working relationship. If Mr. Putin were not in charge, China would be uncertain about who will succeed him and about possible conflicts and tensions between the two countries. There is already a great deal of distrust between Russia and China, which only adds to China’s concerns and insecurities about the situation in Russia.

Due to its authoritarian system, China attaches great importance to security and stability. However, it is recognized that such a system also has its weaknesses. While China worries about these weaknesses, it understands that it doesn’t take much to spot weaknesses. For this reason, China is closely monitoring the situation in Russia and remains concerned about possible instability and its impact.

And could this lead to a change in China’s attitude towards Russia, both officially and unofficially?

The Chinese are closely following the situation in Russia because they take a transactional approach to their relations. China prioritizes its own development goals and national interests, and a weakening of Russia could affect these transactional dynamics. However, it is still too early to determine the exact impact on relationships. There is currently a strong desire to understand the stability of Putin’s leadership and future developments in the coming weeks and months. Only then can one count on possible changes in relationships. In this phase, the focus is on gathering information and understanding the situation. The extent of fundamental changes will depend on whether the Russian system is stable or weak. Ultimately, relations between China and Russia are transactional in nature and based on common interests.

China’s EU envoy Fu Cong said Beijing respects all countries’ territorial integrity and upholds the peace. And to say that China could back Ukraine’s claims to Crimea is that surprising?

That he expresses this point openly is certainly remarkable, even if the position itself is not particularly surprising. Its position remains consistent given China’s behavior following the referendum and annexation of Crimea, where it abstained from voting on UN Security Council resolutions on the issue and did not explicitly recognize the legitimacy of either the referendum or the border changes. China has always insisted on respecting territorial integrity.

Therefore, while the statement itself is noteworthy, it does not represent a change in China’s official position. The Chinese government has always taken a position consistent with its previous actions and statements.

What does it mean to him to say that out loud?

It is possible that China is closely following the situation in Russia, which could influence its position. She could consider the scenario of Crimea returning to Ukrainian control. In this case, China could emphasize that it joins its longstanding position of defending the sovereignty and territorial integrity of other states, including Ukraine. This would not result in a major change in their position, which was always somewhat ambiguous.

In the Russian conflict in Ukraine, China has a lot of rhetorical leeway that allows it to navigate without contradictions. The explicit statement by the representative of China is noteworthy, but it may reflect his official position rather than a change in it. It is possible that the explicit nature of the statement is related to the current situation in Russia. However, it remains consistent with China’s established position, which underscores its commitment to territorial integrity and sovereignty.

Could this also be a way to placate the US and the West?

I think China is aware that words will not suffice. If China wants to be taken seriously and make real progress in improving its relations with European countries, it will not be enough to reaffirm its position. She understands that other governments and public opinion are aware of this as well. To really improve relations, China should take concrete steps.

For example, China could put pressure on Russia to facilitate the return of captured Ukrainian hostages and children currently in Russia. This would be a specific area where China could demonstrate its commitment and achieve tangible results. Empty words would not suffice. The Chinese government needs to recognize the importance of showing concrete results and actively engaging in policies that are consistent with its stated position.

What could make China abandon Russia?

I believe that even if circumstances changed, such as civil war or internal instability in Russia, China’s position on legitimate security concerns and interests would likely remain consistent. This concept is deeply embedded in the Chinese approach, and China would likely continue to support Russia’s security interests no matter the situation. However, it is important to note that China-Russia relations are transactional in nature.

Should Russia experience significant weakness or domestic instability at significant cost to China, it is plausible that China will reconsider its approach and prioritize its own economic development and stability. This could affect their actions and decisions. However, it is important to emphasize that we are not currently in a situation of civil war or serious instability in Russia. Therefore, China is unlikely to openly position itself against Russia at this time.

In summary, while there may be adjustments in China’s position in response to changing circumstances, we are not currently in a situation that warrants a material change in China’s position or open opposition to Russia.

Has China’s attitude towards Russia changed so far?

A notable change is the reference to ‘Partnership Without Borders’, which was mentioned in February but has not been mentioned since. On the other hand, China’s willingness to participate in the peace talks as a mediator has evolved significantly, which is a first. This level of engagement was not seen in the first year of the war. In addition, China has begun engaging with Ukraine through talks and visits, a marked change from its previous position. However, it is important to note that, according to my analysis, China has not explicitly criticized Russia and has not taken any concrete steps in this direction.

When China expresses concern about an escalation or nuclear threat, it should be understood as a responsible position, consistent with the expectations of a member of the United Nations Security Council. Had China not voiced its concerns, there would have been cause for concern. Overall, China’s narrative has remained consistent and it is important to recognize that both countries are involved in this dynamic.

This discreet turn of China on the subject of the war in Ukraine Atlantico Read More »

How to never get fined again This man managed to

How to never get fined again: This man managed to avoid more than 150 fines… SoloMotori

fines-makeup.solomotori.it

Nowadays, thanks to the news related to the Highway Code, there is a lot of talk about fines and their large number: are there ways to avoid them? There are those who have tried to escape up to 160 reports and more. How has he fared? We see everything.

There is constant talk of bruises and of tightening of the Rules of code of the Street primarily to prevent certain behaviors from continuing to endanger the safety of people and things. And the fines You are and will be main deterrent.

It’s hard to find a motorist who has never driven it fine on the Dashboard, And in any case, the increasingly numerous and extensive sanctions are often a real drama for anyone who gets involved Steering wheel.

Therefore, the mere idea of ​​being able to escape one sanction It’s almost a dream not to come across checkpoints and patrols ready to sanction themselves, or speed cameras and speed cameras, for example many people drive.

And if one more element is added to all of this, which is the fact that, as the news reports, it actually happened to someone capable of it flee to a great offer From sanctions then the picture is finished. And curiosity grows.

Back and unpaid fines: Here’s the system

How could it really be possible for one person to avoid so many fines? Look out; We are talking about 160 sanctions. And not even a fine. how did he do that? Let’s try to summarize this story.

A symbolic case giving a total of 1€3,000 fine, cthey should have been inflict to a single person guilty of doing something great Crowd From violations.

We’re talking about a person who would have done it in two years accumulated, According to various news sources, this amounts to a lot one hundred and sixty minutes For violations of the CDS that would have been detected by the city patrols.

Traffic jam: That’s how it ended

The reason why this fines would not have been “successful”, but would lie in the fact that the car would have been successful directed to a common person but what it was deceased. Apparently the trick seemed to work.

sanctions-solomotori.it

And the manager thought he evaded payment. Never cross checks Authorities have made it possible to establish the identity of the person responsible, which it ultimately was accepted: Registration certificate confiscated, 13 thousand euros of fines. And then?

Now the debt collection process begins, with the intention of the authorities the attempt succeeds.

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William Levy and Samadhi Zendejas How many years is he

William Levy and Samadhi Zendejas: How many years is he older than her?

William Levy and Samadhi Zendejas: How many years is he older than her?

The celebs, who “would start a relationship,” met while participating in a reality show two years ago.

By: Elizabeth Gonzalez

William Levy and Samadhi Zendejas How many years is he

‘It’s not that I don’t have value’: William Levy names reason why he didn’t reach the altar with Elizabeth Gutiérrez

William Levy and Samadhi Zendejas They are one of the most popular fictional couples right now thanks to their work on the Come Back to Me series. However, the chemistry they project on TV causes them to get caught up in romance rumors because “They would start a relationship” according to the journalist Mandy Fridmann.

Although neither the Cuban nor the actress from “La mujer del diablo” (series you can watch on ViX) have confirmed or denied this transcendence, the truth is that the celebrities met during a reality show two years ago , without having imagined that time later, they played together in a series.

How many years is William Levy older than Samadhi Zendejas?

One of the topics of conversation about this alleged romance is the 14 years apart they would take that William Levy would soon be 43 years old next August 29 while Samadhi would reach the age of 29 December 27th.

Although it is a popular saying: “There is no age in love,” journalist Mandy Fridmann assures that this is precisely the topic that worries the actress’ family the most, because in addition to the age difference, there is “the story of Levy and everything what happens to the protagonists of her novels after the shooting is finished,” she mentioned in Las Top News on June 28.

Mezcalent/Getty Images

William Levy and Samadhi Zendejas.

Rumors of a romance between celebrities arose due to the chemistry they project on TV and the messages they usually exchange on social networks, where even Samadhi Zendejas calls “pretty eyes” Elizabeth Gutiérrez’s ex-husband with whom she At the beginning of the year a relationship began. hints at a possible reconciliation.

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Businessmen respond to controversy over selling Cuban soft drinks in

Businessmen respond to controversy over selling Cuban soft drinks in Miami Miami Herald

Luis Felipe Padrón was putting Ciego Montero soft drinks on a shelf at Sedano when someone asked him if he was a communist. Cuban-American businessman and his partner Tony Haber are caught up in the recent controversy in Miami: is the Cuban government benefiting from Ciego Montero soft drinks sold in the exile capital? Criticism has reached social media, where most of the battles or skirmishes that move public opinion are fought today.

“Cuban soft drinks are available in Miami, but children in Cuba don’t eat breakfast. There will be someone who says: They do that in Miami. Stop imagining the blockade doesn’t exist,” said one Twitter user, sharing video of the soda shelves.

Newly arrived Cubans are familiar with one of Cuba’s most popular soft drinks, Ciego Montero, available in orange, lemon or cola flavors known as TuKola, which is banned from sale in Miami due to embargo regulations.

But the Ciego Montero that Padrón sells is made in Colombia and shipped to Miami, where it serves as a mattress for other products Padrón makes and sells in the Latin American country, such as Yoyita’s Cuban biscuits inspired by his mother became.

The businessman handed over the exclusive sale of Ciego Montero soft drinks to the supermarket chain Sedano’s, which has been offering them in four of its branches for a week.

Padrón, President of Always Food Sales & Consultant Corp., and his partner Tony Haber, President of beverage company QVivoBrands and owner of the Ciego Montero brand in the United States, confirm that they have no business or legal relationship with any Cuban government entity.

“That’s what hurts me about this story and why I go to bed every night saying there has to be a plan, that they’re telling me I have ties to a government I left 43 years ago, and that she did what she did.” Give me a lot of beatings because I wasn’t happy in Cuba. I saw my parents and mom doing a lot of work,” says Padrón, who was 11 when he departed via the Mariel-Key West pier.

His father was a sugar engineer from the old Amistad mill in what is now Mayabeque province, and his mother was a seamstress who tried to leave Cuba for many years. Until an uncle imprisoned in the Military Production Aid Units (UMAP) camps — where the Castro regime sent homosexuals and disaffected people into forced labor — helped eject them with the flotilla that brought more than 120,000 Cubans there to get Cuba out of the United States.

Businessmen Luis Felipe Padrón, president of Always Food Sales & Consultants, and Tony Haber, president of Qvivo Brands Inc., explained how the Ciego Montero soft drink brand was registered in the United States and dismissed criticism that they have ties with the Cuban government .  in an interview with el Nuevo Herald at its southwest Miami warehouse on June 28. Businessmen Luis Felipe Padrón, president of Always Food Sales & Consultants, and Tony Haber, president of Qvivo Brands Inc., explained how the Ciego Montero soft drink brand was registered in the United States and dismissed criticism that they have ties with the Cuban government . in an interview with el Nuevo Herald at its southwest Miami warehouse on June 28. Lauren Witte [email protected]

“I’m one of the tough ones. I haven’t returned to Cuba because I’m not afraid of anything and I’m sure that when I enter they will open my suitcase and take away something I’m carrying for a distant cousin I have I’m going to give up,” says Padrón.

For more than two decades, Padrón, 54, has represented the spice company McCormick with a distribution deal in supermarkets such as Fresco y Más and Winn-Dixie and prides himself on knowing “flavors” and distinguishing those that suit him. They are popular with different groups of Latinos. Pelly snacks and Findy snack paste are also sold.

Marche and Cuban nostalgia

Padrón has been interested in Cuban brands since his uncle and business mentor gave him a book on the subject 18 years ago.

“Because of the communist government, we never went back to Cuba, but we’re proud to be Cubans,” says Padrón, who had already registered three brands of Cuban beers in the United States, Mayabe, Tínima and Manacas – a business he owned had shared it with his daughter and son-in-law when Padrón found out about the existence of Ciego Montero soft drinks through his partner, a Cuban who had recently arrived from the island.

It was she who prompted him to look for the soft drink that has meaning for the palates of the youngest Cubans who did not know or no longer remembered the earlier versions of cola on the island such as the soft drink Son and Tropicola Materva , Jupiña, and other soft drinks sold in Miami today that more closely resemble the flavors that emigrants favored decades ago.

A new wave of Cubans is promoting business in Miami

When Padrón Ciego registered Montero, he learned that another Cuban had previously registered him with the United States Patent and Trademark Office in November 2021. He then contacted Tony Haber via Linkedin, who in turn inquired about Padrón.

Haber, chairman of Qvivo Brands, which markets wines like Nostalgia and Patria y Vida and Mi Cristal beer, acquired the Ciego Montero brand, which Kuba had not renewed. They got it in 2022 because they always give the brand owner a grace period to claim it.

“From time to time you have to pay a fee, which is more common when the brand is inactive,” Haber explains, speculating on the reasons why the Cuban government stopped paying for soft drink rights in the US and what the consequences are thereby he became the owner.

Ciego Montero de Cuba soft drinks are manufactured in Guane, Pinar del Río and owned by a joint venture, Los Portales SA, a partnership between Swiss multinational Nestlé SA and the Cuban government’s Food Corporation.

Ciego Montero soft drinks sold in Miami come in three flavors, including TuKola.  They can currently be found in some Sedanos.  They are owned and marketed by two Cuban-American businessmen who deny having any business ties with the Cuban government. Ciego Montero soft drinks sold in Miami come in three flavors, including TuKola. They can currently be found in some Sedanos. They are owned and marketed by two Cuban-American businessmen who deny having any business ties with the Cuban government. Lauren Witte [email protected]

Haber, who began tracking Ciego Montero in the US during the pandemic, a difficult time for businesses, explains that there were two options.

“Either we became the owner of the brand, or Cuba kept the brand,” he says, pointing to the possibility that the US government would intensify its rapprochement with the Cuban government. “Then Cuba would again own the brand, could sell it in the US and really take on the profits made in Miami.”

The 49-year-old businessman, who came to Miami when he was 14, had another reason to work with Padrón to market and distribute Ciego Montero.

“Why can’t Cubans sample their country’s produce here like Puerto Ricans, Colombians and Mexicans do,” explains Haber, who sells canned Puerto Rican coquito and guarito, a sparkling Colombian brandy cocktail, also in a can, in addition to his version by Cuba Libre – Lie, says the can – under the TuKola brand by Guayabita del Pinar.

Registration of the TuKola trademark in the United States. Registration of the TuKola trademark in the United States.

In exchange for Padrón being allowed to market Ciego Montero, “Haber has the right to market our three beers – Mayabe, Tínima and Manacas – and everything we do with wine and alcohol,” says Padrón, who foresaw the business opportunity that would result with the arrival of more Cubans.

“I knew that after July 11, 400,000 Cubans would come,” Padrón says of the July 2021 protests, which, combined with the repression and crisis on the island, led to the largest exodus of Cubans. “If they let it, the island will remain empty,” adds Padrón, who wanted to bring Cubans the taste they like.

Instead of being sweetened with corn syrup like most soft drinks in the United States, the Ciego Montero soft drinks he sells contain real sugar, Padrón explains.

The businessman began looking for the business formula in the kitchen of a Cuban cabin he has on his farm in Redland. And he didn’t give up until he found the ingredients that came closest to making Cuban lemonade. That’s why some comments on the networks that claim that the formula was given by Cuba hurt him, he reiterates.

heritage and tradition

A graduate of the FIU Business Administration, Haber understood how the mechanisms of nostalgia work from a course he took on diaspora literature, not just Cuban exile literature, he says, recalling a poem by Richard Blanco, who was one of his teachers was.

“Her family went to a hotel in Naples and cooked rice and beans,” she summarizes Blanco’s poem, confirming what she took away from the course: “Never, no matter how many years pass, people lose their nostalgia.”

This is where his desire to salvage drinks, flavors and memories began, says Haber, who launched Mi Cristal – his version of Cristal beer, the most popular in Cuba – and which comes in a can with an image of El Morro. “Production will be shut down for a few months,” he says of Mi Cristal, which is looking for a cheaper location elsewhere.

The Cristal beer brand is registered in the United States by a Peruvian company, Backus and Johnston, so no company is allowed to use that name. For his part, a Californian businessman, Martin Wadley, created Palma beer in 2019, which is said to resemble Cuba’s Cristal. Wadley managed To the label and phrase that identified Cristal: La Preferida de Cuba. In February 2022, he sued Haber and they settled out of court.

“I can’t even use a tiny palm on the label or the color green,” says Haber

He considers himself a risky businessman, but Haber is unwilling to do business with the Cuban government. On a trip to the island in 2014, he confirmed there were no opportunities to do business with “the communists” as their nature will not change, he told the El Nuevo Herald.

Padrón says that when he tells the story of Ciego Montero soft drinks to people who confront him in a supermarket, some exclaim, “You screwed the Cuban government. Good job”.

Other exiles, like former political prisoner Iliana Curra, continue to question the presence of soft drinks in Miami’s markets. “I’m concerned that Cuba is making some kind of profit,” Curra told the el Nuevo Herald, saying he’s “received a lot of calls about Cuban products being sold at Sedano’s.”

“Why do you have to take TuKola here? What’s the problem with cheap nostalgia? Here we have everything. Why does Sedano’s have to sell this when they have so many products? “Here we are refugees,” said Curra.

Republica, the company in charge of Sedano’s public relations, told the el Nuevo Herald that the supermarket chain had not commented on the matter.

For Padrón, selling Ciego Montero soft drinks in Miami is “a matter of heritage and tradition.” Haber recalls, “Many Cubans who didn’t have a chance to try these soft drinks in Cuba can now try them in Miami.”

This story was originally published on Jun 30, 2023 at 4:42pm.

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Sarah Moreno reports on South Florida business, entertainment and trends. He graduated from the University of Havana and Florida International University. @SarahMoreno1585

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Fourth night of riot in France more than 1300 arrests

Fourth night of riot in France more than 1,300 arrests BVZ.at

The riots were sparked by the death of a 17-year-old man of North African descent who was shot dead by a police officer during a traffic stop on Tuesday. Nahel M. will be buried this Saturday in his hometown of Nanterre, a suburb of Paris. The roads leading to the cemetery will be cordoned off.

There were no buses into Nanterre in the morning. It was silent. A group of about 30 young people stood guard at the entrance to the funeral home. They asked people not to take pictures. Police could not be seen as mourners gathered at a nearby mosque. “We are not part of the family and we didn’t know Nahel, but we were very moved by what happened in our city”, said one of the young people. “So we wanted to express our condolences.”

During the night there were violent riots not only in Paris, but also in Marseille, Lyon, Toulouse, Strasbourg and Lille. According to Interior Minister Gerald Darmanin, 45,000 police were on duty across the country, 5,000 more than the day before. More than 2,000 people have been arrested since the unrest began, and the average age is 17, according to Darmanin. According to official figures, 200 police officers were injured. An estimated 2,000 vehicles were set on fire, several buildings were engulfed in flames, and dozens of stores were looted.

According to official information, 80 people were arrested overnight in Marseille alone. Many people of North African descent live in France’s second largest city. Images circulating on social media show an explosion in the old port area. City officials said they were investigating the cause. However, it is not assumed that there were casualties. In the city center, protesters looted a gun shop and stole some hunting rifles but no ammunition, police said. A person with a weapon suspected of theft was arrested and the store is now under police surveillance.

Marseille Mayor Benoit Payan called on the government to immediately deploy additional security forces. “Scenes of looting and violence are unacceptable,” he wrote on Twitter late on Friday.

In Lille, France’s third-largest city, police used armored vehicles and a helicopter. In Paris, police cleared the Place de la Concorde, the largest square in the capital, on Friday night. A large number of people gathered there for a protest demonstration.

The outbreak of violence has plunged President Emmanuel Macron and his government into the worst crisis since the 2018 yellow vest protests. “We do not rule out any hypothesis and we will see what the President of the Republic decides after tonight”, he told TF1 on Friday night.

Many people from poor and multi-ethnic neighborhoods feel disadvantaged and neglected by the government. Complaints about police violence and racism have been piling up for a long time. The riots are reminiscent of street battles in 2005, which lasted for three weeks. At that time, two young men in Paris, fleeing the police, hid in a transformer house and died from an electric shock. President Jacques Chirac felt compelled to declare a state of emergency.

Nahel M., who has Moroccan and Algerian roots, was shot dead by a police officer during a traffic stop on Tuesday. Video of the incident was shared on social media. The officer admitted to shooting the young man when he continued to drive the car despite being checked. His lawyer, Laurent-Franck Lienard, said his client aimed for the driver’s leg but was hit as the car started, prompting him to shoot himself in the chest. “Obviously he didn’t want to kill the driver,” Lienard told BFM television. The policeman is under arrest. The Public Prosecutor’s Office is investigating the suspicion of manslaughter.

Fourth night of riot in France more than 1,300 arrests BVZ.at Read More »