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Truist Wealth enters Chicago marketplace

Truist Wealth, the wealth-management division of Truist Financial Corp., said Monday it has entered the Chicago marketplace with a 10-person team.

The downtown Chicago office represents the latest expansion step for Truist Wealth into nine of the nation’s 10 largest major metro markets.

Truist Wealth provides financial planning, investment management, banking, risk management and other solutions to affluent, high and ultra-high net worth individuals, families and business owners.

Truist Wealth’s expansion into Chicago supplements Truist Securities, the bank’s full-service corporate and investment banking arm of Truist.

- Richard Craver

Kontoor board names Foot Locker exec as member

The board of directors of Kontoor Brands Inc. has named Andrew Page as a member, effective last week.

Page has served as chief financial officer of Foot Locker Inc. since April 2021.

Prior to joining Foot Locker, he served as chief accounting officer and controller at Advance Auto Parts Inc.

- Richard Craver

Greensboro firm buys Mount Airy production plant

Allen Industries, a family-owned business in Greensboro, said it recently acquired the Mount Airy production facility of national sign company Kieffer|Starlite.

The purchase expands Allen’s presence as one of the nation’s largest sign manufacturers.

The fourth-generation sign-maker, founded in 1931, is a full-service signage and architectural elements manufacturer and installation company with manufacturing facilities in North Carolina, Florida, Arizona and Ohio.

The Mount Airy facility is Allen Industries’ seventh location. Allen said it plans to add employees at the facility. For more information, go to www.allenindustries.com/careers.

- Richard Craver

Premixed Jack and Coke going on sale

ATLANTA — Coca-Cola Co. said Monday it’s partnering with Brown-Forman Corp., the maker of Jack Daniel’s Tennessee Whiskey, to sell premixed cocktails.

Canned Jack and Coke will be sold globally after a launch in Mexico late this year. The move comes amid strong global sales of of ready-to-drink alcohol blends, including hard seltzers like White Claw.

Global consumption of ready-to-drink beverages jumped 26% in 2020 and 14% last year, according to IWSR Drinks Market Analysis, an alcohol market research firm. Coke has been slowly adding more alcoholic drinks to its portfolio since 2018, when it launched Lemon-Dou in Japan.

- Associated Press

Automakers ask for electric vehicle tax cap to be lifted

DETROIT — Major automakers are asking Congress to lift the cap on how many people can receive tax credits for buying a hybrid or fully electric vehicle.

Currently the number of tax credits allowed is capped at 200,000 per company. General Motors and Tesla have already reached the cap and Toyota is close to it.

In a letter to leaders of the Senate and House of Representatives on Monday, the chief executives of Ford, Toyota, GM and Stellantis asked that tax credits be extended to anyone who seeks to buy a qualified vehicle. General Motors and Tesla have already reached the cap and Toyota is close to it. Automakers say they want the cap lifted until “the EV market is more mature,” without giving a time frame.

- Associated Press

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