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In the days leading up to his 57th birthday on Friday, Kewsong Lee was growing uneasy. The now ex-CEO of the Carlyle Group had proposed a $300 million pay package months earlier that would cement him as one of the most powerful figures in finance for the next half decade. The Korean-American businessman played the role of Wall Street titan, while privately harboring growing doubts. Their bosses, the three billionaire septuagenarian founders of Carlyle, had not responded to the nine-figure pay game; Lee felt his situation was becoming untenable, close confidants said. He thought his days were numbered. On Sunday,…

Cuban loves crypto and Web3 technology, but thinks buying real estate in the metaverse is a bad idea. Billionaire entrepreneur Mark Cuban loves cryptocurrency and Web3 technology, but he thinks buying digital real estate in the metaverse isn’t a good idea. “The worst thing is that people are buying real estate on these sites,” Cuban told the Altcoin Daily YouTube channel this week. “This is just the dumbest shit ever.” Cuban, who is one of the stars of the investment show “Shark Tank” and also owns the NBA’s Dallas Mavericks, refers to companies such as Decentraland or The Sandbox where…

Russia’s economy contracted sharply in the second quarter as the country bore the brunt of the economic fallout from its war in Ukraine, in what experts believe is the start of a years-long recession. The economy shrank by 4 percent from April to June compared with a year earlier, Russia’s statistics agency said on Friday. It is the first quarterly gross domestic product report to fully capture the change in the economy since the invasion of Ukraine in February. It was a strong reversal from the first quarter, when the economy grew by 3.5 percent. The Western sanctions, which cut…

BURLINGTON, Ontario–(BUSINESS THREAD)–Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) today announced that, following its announcement on August 3, 2022, that it is revising certain accounting policies, it will restate its unaudited, condensed, interim financial statements consolidated financial statements for the three months ended March 31, 2022, its audited annual financial statements for the year ended December 31, 2021, each with relevant comparative periods, and the relevant management’s discussion and analysis for such periods (collectively, the “Affected”) Disclosures”). The restatement of the affected disclosures is the result of previously announced discussions with KPMG LLP, the Company’s external auditor, regarding certain…

St. LUIS–(BUSINESS THREAD)–Panera Brands Inc., which includes the iconic Panera Bread casual dining and hospitality brand, as well as Caribou Coffee and Einstein Bros. Brands, is pleased to announce the appointment of Konrad Meyer as CFO, effective August 22, 2022. Mr. Meyer joins Panera Brands from JAB, where he was a partner helping to source and oversee its investments, including its portfolio of fast-casual restaurants. He brings significant industry experience, including his work as interim CFO of Pret a Manger. Ted Stedem, current CFO of Panera Brands, is leaving his role to pursue other interests after supporting the company through…

SENECA, SC–(BUSINESS WIRE)–August 12, 2022– Oconee Federal Financial Corp. (Nasdaq: OFED) (the “Company”), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), today announced net income of $4.1 million, or $0.72 per diluted share, for the year ended June 30, 2022, which was the same as net income of $4.1 million, or $0.72 per diluted share, for the year ended June 30, 2021. June 30, 2022 Year-end summary: Forty-three consecutive quarterly dividends of $0.10 per share since the quarter ended December 2011. Total assets were $544.8 million, up 0.2% from $543.7 million of dollars on June 30,…

MCLEAN, Va.–(BUSINESS WIRE)–August 12, 2022– Digital Intelligence Systems, LLC (DISYS), a global talent gap solutions company, has named Mike Leroy as its new Chief Financial Officer. Effective August 22, Leroy will assume oversight of the financial operations and management of both DISYS and Signature Consultants. Leroy previously served as Vice President of Financial Planning and Analysis at ASGN, a multibillion-dollar IT and professional services provider. During his more than 25 years in finance, Leroy has developed a proven track record of leading strong corporate finance functions. Leroy also brings deep experience in strategy, mergers and acquisitions, operations, business analysis and…