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CIBC Misses Estimates as Provisions for Souring Loans Surge

(Bloomberg) Concerns about the shaky US office market ate into Canadian Imperial Bank of Commerce’s earnings, which fell far short of analyst estimates as the lender set aside more than expected for souring loans.Most Read from BloombergUBS Flags Cost Cuts After $29 Billion Credit Suisse WindfallHong Kong to Shut Down City Before Super Typhoon Saola HitsUS Health Officials Urge Moving Pot to Lower-Risk CategoryEurope's Biggest Oil Company Quietly Shelves a Radical Plan to Shrink Its Carbon Fo

Bloomberg businessweekEthanl kayeVictor dodigPaul gulbergDarko mihelicBloomberg canadian imperial bankRoyal bankImperial bankBloomberg intelligence saysExecutive officer victor dodigRoyal bank of canada

UBS Flags Cost Cuts After $29 Billion Credit Suisse Windfall

UBS Group AG outlined major targets for its integration of former rival Credit Suisse including 3,000 domestic job cuts and more than $10 billion in cost savings, as it posted the biggest ever quarterly profit for a bank on the back of the bargain acquisition that closed in June.

Kepler cheuvreuxNicolas payenSergio ermottiAlison williamsCredit suisseVontobel holdingJpmorgan chase coBloomberg television francine lacqua onExecutive officer sergio ermottiBloomberg televisionFrancine lacquaBloomberg intelligence says

Bristol, Lilly Blockbuster Drugs Targeted by Biden for Medicare Price Cuts

Bristol, Lilly Blockbuster Drugs Targeted by Biden for Medicare Price Cuts
bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.

United statesDuane wrightMerck januviaJohnson stelaraBristol eliquisJeannie baumannEvan david seigermanRobert josephsonNovo nordiskJoe bidenWells fargoAbbvie incSupreme courtMerck coCongressional budget officeAmgen inc

Insured Losses From Natural Catastrophes Set to Top $100 Billion for 3rd Year in a Row

Claims for weather-related incidents are set to exceed $100 billion for the third year in a row, as floods, hail and wildfires linked to climate change

Bloomberg intelligence says

Nvidia s already skyrocketing shares soar another 8%

A blockbuster outlook underscores Nvidia’s role as the key beneficiary of the AI computing boom.

United statesJensen huangSanta claraTaiwan semiconductor manufacturing coIntel corpDevices incSamsung electronics coAlphabet incMicrosoft corpNvidia data centerPhiladelphia stock exchange semiconductor indexExecutive officer jensen huangNew yorkWall streetBloomberg intelligence saysData center

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