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BOS- Reuters
International Paper tops quarterly sales on higher prices, demand rebound
Initially buoyed by a surge in online shopping during the pandemic, paper and packaging firms faced a slowdown when economies reopened. Peer Packaging Corp of America reported a quarterly revenue beat on Tuesday from higher pricing, improved production and a recovery in demand for its corrugated packaging products. Earlier in the year, European packaging giant Smurfit Kappa, said the worst of the slowdown in terms of demand for paper and containerboard seemed behind it.
- Associated Press
NFL to open academy in Australia to identify and develop young prospects
The NFL will expand its international search for talent by opening an academy in rugby-mad Australia to develop promising teenagers in the Asia-Pacific region into college and pro prospects. The NFL Academy will open in September for student athletes aged 12 to 18, following recruitment camps taking place this summer in Australia and New Zealand, the league announced on Thursday. Ahead of the NFL Draft, the announcement says the region is full of talent such as Philadelphia Eagles offensive tackle Jordan Mailata, a 6-foot-8 (2.08-meter) Australian who was deemed too big for rugby league.
- Reuters
SVB-owner First Citizens' profit beats estimates on interest income strength
The Raleigh, North Carolina-based lender has been boosted by its buyout of SVB, which collapsed last year after a deposit flight spiraled out of control and led to the biggest banking crisis in 15 years. Since SVB's collapse, banking giants including JPMorgan Chase and HSBC have tried to beef up their businesses catering to startups and venture capital firms. "It's been over one year since SVB became part of First Citizens, and we continue to successfully execute on our integration efforts, which are accelerating the momentum of our franchise," CEO Frank Holding Jr. said.
