Arrow-right Camera
News >  Business

Big money tests Canadian marijuana stocks

As Canada moves toward legalization of recreational marijuana on Oct. 17 and the U.S. shows signs of growing leniency, hedge funds such as Navy are leading the advance of institutional money into a sector that’s so far been dominated by retail investors.

Business Beat

Banking Bankcda has hired Mark Beardsley as vice president and commercial loan officer. He has more than 15 years of commercial banking experience in Oregon and Southern California.

Federal Reserve projects further gradual hikes in key rate

The Federal Reserve said Friday it expects low unemployment and rising inflation will keep it on track to raise interest rates at a gradual pace over the next two years. By late 2019, the Fed says its key policy rate should be at a level that will be slightly restrictive for growth.

Wells Fargo’s second-quarter earnings fall as impact of scandals linger

Wells Fargo & Co., which has been mired in investigations related to its business practices since 2016, said Friday that its second-quarter earnings fell to $5.19 billion from $5.86 billion a year ago. The bank also revised its first-quarter earnings downward after agreeing in April to pay $1 billion in fines to federal regulators.

Papa John’s to pull founder from marketing

UPDATED: Fri., July 13, 2018, 6:58 p.m.

Papa John’s, which has had founder John Schnatter at the center of its logo and in TV ads, plans to pull his image from its marketing after reports he used a racial slur.