Jim Cramer says these are his favourite financial institution shares in 2022

CNBC’s Jim Cramer on Thursday reviewed the latest list of big bank earnings and explained why his nonprofit investment trust is sticking with his property MorganStanley and Wells Fargo.

“Banks are everywhere this earnings season, which just goes to show how important individual stock selection is,” he said “Bad Money” host said. “All banks are not created equal,” he added, although he expects 2022 to be a solid year overall for financials due to likely Federal Reserve rate hikes.

Citigroup

When Citigroup reported Friday, it indicated an 18% year-on-year increase in operating costs. That’s disappointing for Wall Street, Cramer said, because the company’s revenue rose just 1%.

Cramer said the best thing he could say about Citi stock is that it’s cheap, trading at about 80% of its tangible book value. However, he did concede that the stock, which is down nearly 5% over the past week, could see a rebound this quarter if Citi resumes share buybacks; The bank suspended its buyback program in December due to regulatory issues.

JPMorgan

Investors were disappointed too JPMorgan‘s leap in interest-free spending up 11% YoY‘ Cramer said. While it’s no secret that JPMorgan is investing in its business to fend off fintech competition, Cramer said the Street was a little surprised by the amount of capital tied up.

Cramer said he thinks JPMorgan’s sharp sell-off after earnings was a bit overdone. “After that drop, JPMorgan is trading at just 13 times earnings despite being the most expensive in the group [a book value basis]. I think you can do better,” he said.

Wells Fargo

Owned by Cramer’s Wells Fargo Charity Foundation exceeded analysts’ expectations for sales and earnings. “Most importantly, Wells is very interest rate sensitive. So when you see bond yields rising, think Wells Fargo,” Cramer said, adding that the bank’s about-face under CEO Charlie Scharf is “finally paying off.”

Goldman Sachs

Cramer reiterated his positivity on Goldman Sachs, and states that he believes the investment banking giant can do it continue his record in 2021 with another strong performance this year. “Goldman is one of the best franchises in the world, but for heaven’s sake it’s selling for less than nine times its profits,” he said.

He said the only reason his charitable foundation doesn’t own Goldman Sachs is because it already owns Morgan Stanley. “I’m a big believer in diversification — you don’t have to have two investment banks in your portfolio,” he said.

MorganStanley

Cramer said he was very impressed Morgan Stanley’s earnings results for Wednesday, noting that sales and earnings per share exceeded Street’s expectations. Its investment banking unit and wealth management are doing well, Cramer said, and spending remains under control.

“Oh, and they’re aggressively buying back shares. asked Cramer rhetorically.

Bank of America

said Cramer Bank of America, the also reported on Wednesday, delivered solid numbers, including the fact that revenue growth of 10% outpaced spending growth of 6%.

“Like Wells Fargo, Bank of America is very sensitive to interest rates, which means it’s in a great position going into 2022,” Cramer said, adding that the only reason his charitable foundation doesn’t own Bank of America is because of that that he likes Wells Fargo better .

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‘No 70s-style inflation spiral’ says Financial institution of England as a result of households have much less to spend

There will be no return to a 1970s style spiral inflationbecause the wage increases are being eaten up by the rising cost of essential goods, high-ranking Bank of England politicians said.

Some economists have warned that wage increases will go through Labor shortage could create a “wage-price spiral” in which higher wages drive up commodity prices and prompt other workers to demand their own wage increases.

Three of the bank’s most senior figures told Treasury Select Committee MPs that such a scenario – which played out in the late 1970s – is not likely today.

“There is no danger of a wage-price spiral in the UK,” said Michael Saunders, an external member of the bank’s nine-member rate fixing committee. “Talking about a return to the 70s is completely out of place.”

“The economy has changed in many ways since then, and another major change is institutional policymaking with an independent central bank, a clear mandate and an effective set of tools.

However, he said he voted to withdraw some of the bank’s stimulus measures because the labor market was “tight” and average wages had risen.

Mr Saunders was in the minority who voted to tighten monetary policy last week who created money in the financial markets.

Bank of England Governor Andrew Bailey said the labor market situation was “very different” from more than four decades ago.

“The collective bargaining position varies a lot,” Bailey said, referring to the sharp decline in the proportion of workers who are union members.

When asked if an inflationary spiral was likely, Mr. Bailey said, “We are very far from the 702, shall we say so.”

Dr. Catherine Mann, another member of the bank’s monetary policy committee, told MPs on Monday that companies may not be able to pass the rising cost of materials and labor on to customers as consumers will not have additional disposable income despite wage increases in some sectors.

“Will consumers spend enough on goods and services if part of their wallet is spent on energy and food? The answer probably isn’t, and so companies can put any cost increase one-on-one on their future prices are questionable.”

The bank has been asked by some analysts to hike rates to cool the economy and lower inflation, but has so far resisted. Any move to hike rates would be controversial as the economy is still smaller than it was before the pandemic and the latest data shows that growth has slowed.

Mr Bailey defended the guidance he had given the bank prior to the bank’s recent interest rate decision. His words had been interpreted as a sign that the bank was ready to raise interest rates. Mr Bailey maintained his claim last month that the bank “must act” if inflation stays above target over time.

The statement was “subject to change” and merely a repetition of the bank’s public mandate to keep inflation close to the target rate of 2 percent.

Mr Bailey said the decision to hold rates was “very close,” but stressed that he never said the bank would raise rates at the meeting.

“As a guide, in terms of emphasizing the primacy of the inflation target and the link to medium-term inflation expectations, I felt it was crucial that we gain a foothold on this point,” he said.

U.S. Financial institution Debuts New Model Banking — Occasions Publishing Group, Inc.

By Jondi Gumz

Customers in the new US bank branch in Aptos uses a passcode to get into the ATM and use it to make deposits or withdrawals, or to pay for accounts. Bankers inside have mobile tablets to assist customers and a customer care station has space for one-on-one calls, but don’t come at lunchtime as the bank closes until 1pm for lunch

“We don’t have a cash line for transactions,” said. Heather Kesner, Senior Vice President for Consumer and Business Banking, San Francisco Bay, at US Bank. “We have replaced this concept with a number of comfortable meeting rooms where we can have in-depth discussions with our customers about their financial needs, with cash transactions being processed exclusively through our ATM.”

On Tuesday, October 5th, at the Rancho Del Shopping Center, Rancho Del Mar 96, a grand opening of the ribbon for the US bank in Aptos was held with the Aptos Chamber of Commerce.

The U.S. bank donates $ 4,000 to Aptos-based California FarmLink, whose mission is to invest in the prosperity of farmers and ranchers through lending and access to land, and $ 4,000 to Friends of Santa Cruz Public Libraries to help rebuild the Aptos library.

The new US bank branch in Aptos’ Rancho Del Mar Shopping Center.

Ana Alvarez is the branch manager.

The Aptos branch serves as a hub for wealth issues with a full-time investment advisor and business banking specialist on site.

Aptos customers can use the US Bank’s award-winning mobile app and online banking includes features such as personalized insights to make managing money easier, the US Bank Smart Assistant that lets you get everything you need in a few words , Co-browse live video to see the banker you’re talking to, and more.

US Bank Times Publishing Group Inc. tpgonlinedaily.com

In the new US bank branch in Aptos

“Many traditional everyday transactions can be processed using our new digital tools,” said Kesner, “so that we can focus our interactions with our customers on finding and delivering solutions to their financial needs.”

In response to the COVID-19 pandemic, the store is introducing design changes such as plexiglass barriers and antimicrobial surfaces, as well as signage to encourage social distancing.

Four more conversions are planned in the San Francisco Bay Area by 2022.

•••

The US bank reported nearly 70,000 employees and assets of $ 553 billion as of March 31. According to the FDIC, as of June 2019, the US bank had deposits of $ 47 million in the Aptos zip code – less than 6 percent of total deposits prior to the Aptos branch closure, and bank employees are believed to be working to get those deposits back.

(Visited 1 time, visited 1 time today)

Las Cruces meals financial institution holds starvation strike to boost cash

EL PASO, Texas (KTSM) – A Las Cruces food bank, Casa de Peregrinos, is holding its annual hunger strike Thursday.

This is the third year of the hunger strike, which is also a fundraiser. Fasting starts at 8:00 a.m. and ends on Friday at 8:00 a.m.

“This is a great opportunity for us to reach out to the people who are affected by food insecurity in our communities,” said Lorenzo Alba, Executive Director of CdP.

According to Casa de Perigrinos, the goal is to raise $ 50,000 to help the community. With a total of 50 people participating in the fast.

“It is very important to us to share our own personal hunger experiences as we stand up for our mission at Casa de Peregrinos. These personal stories make this event such a unique event and fundraiser, ”said Alba.

The event is sponsored by El Paso Electric, Western Sky Community Care, and Century Bank.

For more information, you can contact Bianca Menchaca at bjmenchaca81@gmail.com or at 915-449-8029.

For local and breaking news, sports, weather alerts, videos and more, download the FREE KTSM 9 news app from the. down Apple App Store or the Google Play Store.

Massive E Claims He’ll Money in Cash within the Financial institution on Tonight’s WWE Uncooked

This week’s edition of Monday Night Raw could be the most eventful of recent if Big E’s latest claim proves to be true. It was announced late last week that instead of meeting at Extreme Rules pay-per-view later this month, Bobby Lashley and Randy Orton would be fighting for the WWE Championship on tonight’s episode. Big E, who annoyed during a SmackDown promotion last week about finally using his money-in-the-bank contract, took to Twitter to openly announce that he was cashing in.

“Let’s get this cat out of the bag … I intend to redeem and redeem my Money-in-the-Bank contract tonight to become WWE Champion,” wrote E.

Let’s get this cat out of the bag … I intend to redeem my money-in-the-bank contract tonight and become the WWE Champion.

– Ettore “Big E” Ewen (@WWEBigE) September 13, 2021

It is entirely possible that E is lying, despite the fact that Sean Ross Sapp reported it Combative selection prior to E’s tweet, the New Day member was expected to be on Raw tonight anyway. Sapp described the role of E as “all over the show”.

While E initially stated in interviews that he only wanted to use the money-in-the-bank briefcase for Roman Reigns, he has recently changed his mind. When asked about targeting Lashley late last month, E said Sports Illustrated“The story of Bobby, Kofi and Woods has history, so it’s all there,” said E. “That would be our chance for retaliation, and it just feels right. I loved The Hurt Business. I loved seeing what they could do and the fact that their whole hurt business era wasn’t in front of the fans it was before the ThunderDome which is amazing. Maybe there is a chance they could put all the arguments aside and get back together, then with The New Day and Hurt Business you would have so many options and choices, even six men.

“Bobby is on his best run,” he continued. “He wears like a champion; he looks like a champion. When I was first signed to WWE in 2009, I remember seeing him and Cena match up over and over again. He was someone I wanted to work one day so it’s an honor to have Bobby talk about us like that. It has an incredible run and there is definitely a lot of meat to chew on. “

ACE Trade Tackles Cryptocurrency Cash Laundering With KPMG, KGI Financial institution and CYBAVO

TAIPEI, September 2, 2021 / PRNewswire / – As nations around the world try to take control of cryptocurrencies to prevent financial crime, ACE exchange, a leading cryptocurrency exchange based in Taiwan, has proactively implemented numerous measures to meet the relevant requirements and to contribute to the fight against money laundering, Taiwan Regulators to create a safe and transparent cryptocurrency environment.

David Pan, founder of ACE Exchange, says security is a top priority for the company

To achieve this, ACE Exchange has partnered with KPMG, KGI Bank, CYBAVO and Lockton to provide AML and other financial crime protection on its platform and to provide a secure crypto trading platform for all users.

In recent years, crypto assets have grown in importance, especially among young investors. The exponential increase in popularity has also raised concerns about the inherent risks of unregulated transactions between cryptocurrency holders. To prevent cryptocurrencies from becoming a money laundering channel, authorities have tightened regulations for the industry, including the New Taiwan Cryptocurrency rules issued on July 1 which cryptocurrency exchanges require to verify and evaluate user identities.

“ACE Exchange has worked with KPMG to take relevant anti-money laundering and terrorist financing practices by rigorously verifying user information and identities prior to the introduction of the new Taiwanese AML regulations for cryptocurrencies Taiwan Criminal and investigative agencies to help set up comprehensive anti-money laundering mechanisms in the crypto room, “said David pan, Founder of ACE Exchange.

Security is a top priority at ACE Exchange

ACE Exchange offers double protection for the new Taiwan dollar and crypto assets. In 2020 the company founded the “FIA Fund Trust Custody” together with the KGI Bank. ACE Exchange is operated by the world-renowned blockchain security company CYBAVO and is equipped with a state-of-the-art security system for digital assets and a third-party digital wallet for users.

The story goes on

ACE Exchange’s partnership with S&P AA-rated international insurance company Lockton gives users all-round protection.

Since its inception, ACE Exchange has prioritized security and user protection, which in partnership with the world’s leading law firms, accounting firms and financial institutions has laid a solid foundation for regulatory compliance regarding AML and KYL.

In early 2018, ACE Exchange received guidance from KPMG on setting up transaction procedures and ensuring compliance with anti-money laundering and terrorist financing (CTF) regulations.

In 2021, Rex Chu, Risk Consultant and Executive Vice President of Forensic Accounting Services at KPMG Taiwan, assisted ACE Exchange in planning product development and operations in accordance with the relevant Taiwan Laws and regulations to meet the standards of high profile financial banks. It has put ACE Exchange at the forefront of the crypto industry in building and strengthening its risk management protocols and user protection mechanisms.

Via ACE Exchange

Founded in 2018 by David pan, former COO of KPMG Innovation and Startups, ACE Exchange is one of the largest cryptocurrency platforms with first-class digital security measures in Taiwan. It currently ranks second in Taiwan in terms of trading volume in Bitcoin, Ethereum and StableCoins. The brand has set itself the goal of building the most professional fiat-to-crypto exchange and providing a channel for easy access to cryptocurrencies for all Taiwanese people.

Cision

Cision

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SOURCE ACE exchange

Africa was shortchanged on Covid vaccines: African Improvement Financial institution

A health worker vaccinated a man in Abidjan on August 17, 2021 during an Ebola vaccination rollout on August 17, 2021 after the country recorded its first known case of the disease since 1994. (Photo by Issouf SANOGO / AFP) (Photo by ISSOUF SANOGO / AFP via Getty Images)

ISSOUF SANOGO | AFP | Getty Images

African countries are “underserved” in terms of their access to Covid-19 vaccines, said the president of the African Development Bank.

“Africa [has] If I’m allowed to use that term, it has certainly been falling short when it comes to global access to vaccines, “Akinwumi Adesina told CNBC “Squawk Box Asia” on Tuesday.

“The vaccines are not arriving on time, in the right amount and at the right price,” he said, adding that saving lives “is all about timing.”

According to Our World in Data, only 2.48% of the continent was fully vaccinated by August 23, far behind other continents.

By comparison, vaccination rates are 25.31% in Asia and 27.1% in South America, while vaccination rates in Europe and North America are both over 40%, as statistics from Our World in Data show.

“If we have learned one lesson from this, it is that Africa shouldn’t depend on the rest of the world for essential vaccines and therapeutics,” he said.

I assume that Africa will recover after this particular pandemic. The fundamentals remain very strong.

Akinwumi Adesina

President, African Development Bank

Africa “shouldn’t be dependent on others, it should be self-sufficient,” he said.

To this end, the African Development Bank wants to invest in primary, secondary and tertiary health infrastructure, Adesina said. It also hopes to allocate $ 3 billion to the pharmaceutical sector so that Africa can have vaccines and medicines for itself.

Economic effect

The pandemic had “very dramatic effects” on Africa, Adesina said, adding that GDP growth has declined, the budget deficit has doubled and the debt ratio has risen in 2020.

However, he expects growth of 3.4% this year after shrinking 2.1% in 2020.

“Africa still has fantastic fundamentals,” he said, citing rapid urbanization, good consumption potential and a large, young population.

The African continental free trade area is “too big to ignore,” said the bank president.

According to the World Bank, the AFCFTA, as it is called, is is the largest free trade area in the world based on the number of participating countries. It seeks to connect over a billion people in 55 countries with a combined GDP of $ 2.5 trillion.

“I assume that Africa will recover from this particular pandemic,” he said. “Fundamentals remain very strong.”

Allegiant Stadium to Host Cash In The Financial institution July 4th Weekend 2022

LAS VEGAS, August 22, 2021 – (BUSINESS WIRE) – After a record breaking SummerSlam in Las Vegas tonight, WWE (NYSE: WWE) announced that it will return to Allegiant Stadium for Money In The Bank on the weekend of July 4, 2022.

The event marks the first time in history that Money In The Bank has been held in an NFL stadium.

“Las Vegas, its residents and visitors have shown that Vegas is the perfect city for our biggest events,” said Nick Khan, WWE President & Chief Revenue Officer. “Money In The Bank, an event appropriately titled for Vegas and one of our five annual tentpoles, will bring the WWE Universe back to Allegiant Stadium on the weekend of July 4th, 2022.”

“We were excited to host SummerSlam at Allegiant Stadium. Its success continues to show how unique the city of Las Vegas is for hosting a variety of exciting and diverse sporting and entertainment events,” said Chris Wright, general manager of Allegiant Stadium. “Partnering with the LVCVA team was critical to bringing SummerSlam to market and we look forward to working with WWE to host Money In The Bank on the weekend of July 4th, 2022.”

Fans interested in an exclusive Money-in-the-Bank advance booking option can register at. to register https://mitb.wwe.com/presale. More information about the event will be announced shortly.

About WWE

WWE, a publicly traded company (NYSE: WWE), is an integrated media company and a recognized leader in global entertainment. The company consists of a portfolio of companies that create original content 52 weeks a year and make it available to a global audience. WWE is committed to family-friendly entertainment across its television programming, pay-per-view, digital media and publishing platforms. WWE’s TV-PG programming can be viewed in more than 900 million households worldwide in 28 languages ​​through world-class distribution partners such as NBCUniversal, FOX Sports, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all live pay-per-views, scheduled programs and a huge video-on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home of the WWE Network. The company is headquartered in Stamford, Connecticut, with offices in New York, Los Angeles, Orlando, Dubai, London, Mexico City, Mumbai, Munich, Riyadh, Shanghai, Singapore and Tokyo.

The story goes on

For more information on WWE (NYSE: WWE), please visit wwe.com and company.wwe.com.

Via Allegiant Stadium

Located next to the world famous Las Vegas Strip, Allegiant Stadium is a global event destination and the newest ultra-modern venue in Las Vegas. Allegiant Stadium, home of the legendary raiders and UNLV football, is ideally located for visitors and locals alike. The technologically advanced stadium is completely closed and air-conditioned and has a capacity of up to 65,000 people. The Allegiant Stadium offers world-class entertainment, including concerts and sporting events such as the Pac-12 Championship Game and the Las Vegas Bowl. The stadium project is expected to generate economic benefits of $ 620 million annually while creating 6,000 jobs in southern Nevada. For more information, visit www.allegiantstadium.com.

Trademark: All WWE programs, talent names, images, images, slogans, wrestling moves, trademarks, logos, and copyrights are the exclusive properties of WWE and its subsidiaries. All other trademarks, logos, and copyrights are the property of their respective owners.

Forward-looking statements: This press release contains forward-looking statements under the safe harbor provisions of the Securities Litigation Reform Act of 1995 that are subject to various risks and uncertainties. These risks and uncertainties include, but are not limited to, risks related to: the impact of the COVID-19 outbreak on our business, results of operations and financial condition; Conclusion, maintenance and renewal of important distribution agreements; a rapidly evolving media landscape; WWE Network (including the risk of our being unable to acquire, retain, and renew subscribers); our need to continue developing creative and fun programs and events; the possibility of a decline in the popularity of our sports entertainment brand; the continued importance of high achievers and the services of Vincent K. McMahon; possible adverse changes in the regulatory environment and related private sector initiatives; the highly competitive, rapidly changing, and increasingly fragmented nature of the markets in which we operate and the greater financial resources or market presence of many of our competitors; Uncertainties related to international markets, including possible disruptions and reputational risks; our difficulty or inability to promote and conduct our live events and / or other business if we fail to comply with applicable regulations; our reliance on our intellectual property rights, our need to protect those rights, and the risks of our violating the intellectual property rights of others; the complexity of our rights agreements across distribution mechanisms and geographic areas; potentially substantial liability in the event of accidents or injuries occurring during our physically demanding events, including but not limited to claims for alleged traumatic brain injury; large public events as well as arrival and departure to such events; our feature film business; our expansion into new or complementary businesses and / or strategic investments; our computer systems and online operations; Data protection standards and regulations; a possible decline in general economic conditions and disruptions in financial markets; our demands; our debt, including our convertibles; Litigation; our potential failure to meet market expectations for our financial performance, which could adversely affect our stock; Vincent K. McMahon exercises control over our affairs and his interests may conflict with the holders of our Class A common stock; a significant number of shares are eligible for sale by the McMahons and the sale or execution of potential sales of such shares could lower our share price; and the volatility of our Class A common stock. In addition, our dividend is dependent on a number of factors including but not limited to our liquidity and historical and projected cash flows, strategic plan (including alternative uses of capital), our financial results and terms, contractual and legal restrictions on payment of dividends (including under our revolving credit facility), general economic and competitive conditions, and other factors our directors deem relevant. Forward-looking statements by the company speak only as of the date of publication and are subject to change without the company undertaking to update or revise them. Undue reliance should not be placed on these statements. For more information about risks and uncertainties relating to the company’s business, see the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the company’s SEC filings, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210821005002/de/

contacts

Media contact:
Adam Hopkins
203-536-6275
Adam.Hopkins@wwecorp.com

Investor contact:
Michael Weitz
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Michael.Weitz@wwecorp.com

Texas will get concerned in Israel’s struggle with Ben & Jerry’s over West Financial institution boycott

A view of the entrance to the ice cream parlor in the Ben & Jerry’s factory in Be’er Tuvia in southern Israel on July 21, 2021.

Emmanuel Dunand | AFP | Getty Images

The struggle between Israel and Palestinians spills over to 30 US states whose laws prevent pension funds from investing in companies that refuse to do business with the Jewish state.

The most recent example concerns the socially conscious ice cream brand Ben & Jerry’s, the West Bank and Texas.

Earlier this week, Ben & Jerry’s board of directors said it would no longer allow sales in areas it believes Israel should not control. The company issued a statement stating, “We believe it is inconsistent with our values ​​for Ben & Jerry’s ice cream to be sold in the Occupied Palestinian Territories.”

The company, now owned by global consumer giant Unilever, has been selling its brand in Israel through a local Israeli distributor for decades. Unilever said it would seek a new deal to sell ice cream in Israel, but not in territories claimed by Palestinians for their own state.

In Israel, companies are prevented from treating customers and subsidiaries differently in what Israel calls “disputed territory” from what much of the world recognizes as Israeli territory. Israeli Prime Minister Naftali Bennett promised this week that “act aggressively” against the ice cream parlor, founded in 1978 by Ben Cohen and Jerry Greenfield who are Jewish and progressive.

The American flag and the Texas State Flag flutter over the Texas State Capitol in Austin, Texas.

Brian Snyder | Reuters

Now Texas is getting involved.

A spokesman for Republican Governor Greg Abbott told CNBC on Tuesday evening: “Ben and Jerry’s decision to boycott parts of Israel is a shame and an insult to America’s closest allies in the Middle East.” The statement went on to say, “Unilever, the parent company of Ben and Jerry, must reverse this ill-conceived decision.”

Abbott signed a bill four years ago that would force Texas pension funds to part ways with companies boycotting Israel.

State auditor Glenn Hegar, who controls billions of dollars in assets for Texas public pension funds, has already urged his office to take action. In a statement to CNBC, he said, “I have directed my employees to determine if certain actions by Ben & Jerry’s or Unilever would trigger listing under Chapter 808 of the Texas Government Code,” the law passed in 2017.

It is also possible that sales in states with anti-boycott laws could be affected. If Ben & Jerry’s or Unilever bid for a contract with a public agency, they could be disqualified if the boycott becomes a reality.

Florida State CFO Jimmy Patronis, who controls the public pension funds, told CNBC that his office began discussing the issue Tuesday morning. “I find what is happening very worrying,” he said in a text. But he wasn’t ready to say what action could be taken.

Airbnb was the last company involved in a similar problem. In 2018, the rental site said it bans the listing of Israeli property in the West Bank, territory that the Palestinians claim they should be part of their state.

An Airbnb listing in Israel

Airbnb

But the company turned around a few months later and was now looking at listings on a “case-by-case” basis, according to a statement on its website.

Ben & Jerry’s board of directors, who have a unique agreement with parent company Unilever that allows for an oversized role in decision-making on social issues, initiated the withdrawal from Israel this week.

Following the Ben & Jerry statement, Unilever released its own on Monday saying, “We remain fully committed to our presence in Israel, where we have invested in our people, brands and business for several decades.” In addition, the company’s CEO spoke to Bennett this week. Following the interview, Israel’s new Prime Minister said: “This is an action with grave consequences, including legal consequences, and it (Israel) will take vigorous action against any boycott directed against its citizens.”

Ben & Jerry chairman Anuradha Mittal has not responded to CNBC about the implications of the decision and the possibility of divesting Unilever’s state pension funds. In a telephone interview on Thursday, Ben & Jerry’s spokesman Sean Greenwood said, “The company has nothing to add beyond the original statement,” which was released Monday.

In conversation with NBC News Mittal took action against Unilever earlier this week for making its own statement on the subject, calling it “deception”. She added, “I can’t stop thinking this is what happens when you have a board with all the women and people of color pushing to do the right thing.”

Unilever did not respond to CNBC calls or emails asking for a response to the possibility of a sale by state pension funds.