Philippine Lender Esquire Financing Is Said to Weigh Stake Sale at $1 Billion Value
Esquire Financing's founder Rajan Uttamchandani and his family, as well as Ares Management Corp. -backed Crescent Point Capital, are working with an adviser on a potential sale of a significant minority holding, the people said.
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Berkshire Hathaway operating earnings dip 4% as conglomerate braces for tariff impact
Berkshire Hathaway on Saturday reported a small decline in second-quarter operating earnings as Warren Buffett's conglomerate warns of negative impacts from steep U.S. tariffs. Berkshire's operating profit — those from the company's wholly owned businesses including insurance and railroads — dipped 4% year over year to $11.16 billion in the second quarter. The results were impacted by a decline in insurance underwriting, while railroad, energy, manufacturing, service and retailing all saw higher profits from a year ago. The Omaha-based conglomerate once again issued a stern warning of President Donald Trump's tariffs and the potential impact on its various businesses. "The pace of changes in these events, including tensions from developing international trade policies and tariffs, accelerated through the first six months of 2025," Berkshire said in its earnings report. "Considerable uncertainty remains as to the ultimate outcome of these events." "It is reasonably possible there could be adverse consequences on most, if not all, of our operating businesses, as well as on our investments in equity securities, which could significantly affect our future results," it said. Buffett's cash hoard fell slightly to $344.1 billion, from the $347 billion level at the end of March. The conglomerate didn't repurchase any stock in the first half of 2025 even as shares declined more than 10% from a record high. In May, the 94-year-old "Oracle of Omaha" announced that he's stepping down as CEO at the end of 2025 after experiencing the physical effects of aging. Greg Abel, Berkshire's vice-chairman of non-insurance operations, is set to take over as CEO, while Buffett will remain as chairman of Berkshire's board.
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34 minutes ago
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Suit alleges fraud on Oklahoma's $2.5B Disney-sized theme park
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. The sole investor in the $2.5 billion American Heartland theme park and resort that failed to launch in Vinita, Oklahoma, has alleged fraud and psychological abuse from the developers, according to a lawsuit filed July 25 in the U.S. District Court for the Northern District of Oklahoma. In the suit, 91-year-old Gene Bicknell, who once owned a large chain of Pizza Hut franchises, alleges that promoters Richard M. Silanskas Jr., Larry K. Wilhite and Stephen D. Hedrick of Mansion Entertainment Group stole $60 million and caused him severe distress that led to a stroke last year. The suit, which asks for the investment back along with other fees, includes texts and emails from Silanskas and Wilhite impersonating messages from God. 'Silanskas and Wilhite executed a predatory conspiracy of psychological manipulation — convincing Gene, through fraud and impersonation, that God himself was commanding him both to finance the park's construction and to grant Silanskas and Wilhite two-thirds ownership over the completed venture,' the lawsuit reads. Developer Mansion Entertainment Group announced in July 2023 designs for the 1,000-acre Americana-themed development, including roller coasters, an indoor water park, a 300-room hotel and an RV park. The footprint of the 125-acre theme portion would rival Disney's Magic Kingdom in Orlando, Florida, or Disneyland Park in Anaheim, California, in size. At the time, Hedrick commented publicly that Bicknell was the sole financial backer, per the suit. 'The plan was to use Gene's money to build the American Heartland Project and then steal it, paying themselves handsomely along the way,' the suit reads. 'Silanskas already had a record of involvement in failed theme park projects that left empty-handed investors in their wake.' The RV area was originally scheduled to open in spring 2025, followed by the theme park and resort in fall 2026. Indeed, the RV area broke ground in 2023 but nothing more has been built besides a fence and a gravel road, according to the suit. Developers claimed that their design team includes former Disney Parks builders and Walt Disney Imagineers, but that was also a lie, the suit alleges. 'The groundbreaking was essentially the beginning and the end of the construction work on the entire Project,' the lawsuit reads. 'Innocent people lost money by buying up land near Vinita with property values inflated by news of a theme park that would never exist.' This is not the first time the project has been sued. Canadian design firm Forrec and Columbus, Kansas-based Crossland Construction both filed claims in May 2024 alleging that they were not paid for their work. At least five lawsuits or arbitrations have been filed by vendors, according to Bicknell's suit. Mansion Entertainment Group did not respond to Construction Dive's request for comment on the lawsuit. Recommended Reading $2B Disney-sized theme park set to break ground in Oklahoma
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Raising Cane's opening new locations in 6 states in August. Here's where.
Raising Cane's is continuing its expansion this summer. After opening five new restaurants in July, the Baton Rouge, Louisiana-based chain known for its chicken fingers said in a statement to USA TODAY it is opening seven more locations across six states in August, including its first restaurant in the Long Beach, California area. Other states getting new locations include Florida, Wisconsin and Maryland, among others, Raising Cane's said in an emailed statement on July 28. Here's what to know about this month's Raising Cane's openings. Which states are getting new Raising Cane's locations? New restaurants are scheduled to open at the following locations on the following dates, according to the chain: Aug. 5: 323 William S Canning Blvd., Fall River, Massachusetts Aug. 5: 2742 Tyrone Blvd N., St. Petersburg, Florida Aug. 7: 1850 Oakland Ave., Indiana, Pennsylvania Aug. 12: 1741 Claribel Rd., Riverbank, California Aug. 19: 6803 Ritchie Hwy., Glen Burnie, Maryland Aug. 19: 3740 WI-16, La Crosse, Wisconsin Aug. 26: 119 E. Carson St., Long Beach, California What is Raising Cane's? The company sells chicken sandwiches and chicken finger combos including crinkle-cut fries, Texas Toast, coleslaw and Cane's sauce, which the company says is made with a "special blend of spices." Raising Cane's owner Todd Graves initially planned to call his restaurant Sockeye's, a nod to the salmon he once fished in Alaska. However, a friend suggested he name the company after his yellow Labrador Retriever, Raising Cane, who spent lots of time at the construction site of the first Raising Cane's location at the north gates of Louisiana State University. The dog, Cane I, served as the company's mascot until he died in 1998, according to the chain. He was friendly and loved to wear Graves' sunglasses. Raising Cane's second mascot, Cane II, stepped into her role in 1999. She was a therapy dog who visited hospital patients around the country. As the company mascot, Cane II spent time at the company's Restaurant Support Office and attended community events until 2016. Most recently, Cane III, born in 2017, was appointed mascot. "She loves visiting Raising Cane's Restaurants and receiving belly rubs from crewmembers," the company said, noting that Raising Cane's fans can follow her on social media at @RaisingCane3. Saleen Martin is a reporter on USA TODAY's NOW team. She is from Norfolk, Virginia – the 757. Email her at sdmartin@ Gabe Hauari is a national trending news reporter at USA TODAY. You can follow him on X @GabeHauari or email him at Gdhauari@ This article originally appeared on USA TODAY: Raising Cane's opening new restaurant locations in 6 states in August
