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Banking & Financial Services
Morgan Stanley Wealth Management Pulse Survey Reveals Bullish Sentiment Despite Drop in Optimism
By Business Daily | Apr 18, 2024
Morgan Stanley Wealth Management today announced results from its quarterly individual investor pulse survey, revealing that despite a drop in optimism, bullish sentiment remains strong among investors. According to the survey, three out of five investors (60%) are bullish this quarter, consistent with the previous quarter.Chris Larkin, Managing Director, Head of Trading and Investing at E*TRADE from Morgan Stanley, commented on the market trends, stating, “The US stock market is coming off one of its strongest first quarters of the past 20 years, and so it should not be...
Banking & Finance
Goldman Sachs to Redeem Depositary Shares Representing Series K Preferred Stock
By Business Daily | Apr 16, 2024
NEW YORK, NY, April 16, 2024 - The Goldman Sachs Group, Inc. (NYSE: GS) has announced its plan to redeem all outstanding shares of its 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K ("Series K Preferred Stock") and the corresponding 28,000,000 depositary shares ("Depositary Shares") on May 17, 2024.According to The Goldman Sachs Group, Inc., "The Depositary Shares will be redeemed for a redemption price equal to $25 per Depositary Share (equivalent to $25,000 per share of Series K Preferred Stock) plus an amount equal to any dividends that have...
Banking & Financial Services
AF Group Joins Triple-I as Its Latest Member
By Business Daily | Apr 15, 2024
AF Group has joined the Insurance Information Institute (Triple-I) as its most recent member. "AF Group is a driving force in the specialty solutions market, and the Triple-I is honored to have the support of such an important organization," said Sean Kevelighan, CEO, Triple-I.Lisa Corless, President and CEO of AF Group, emphasized the importance of the partnership, stating, "Among the biggest concerns for insurers today are rate adequacy, inflation, climate change and economic uncertainty." She added, "Aligning with the Triple-I is an ideal way to foster our unique...
Banking & Finance
Goldman Sachs Reports 2024 First Quarter Earnings Per Common Share of $11.58 and Annualized Return on Common Equity of 14.8%
By Business Daily | Apr 15, 2024
The Goldman Sachs Group, Inc. announced its financial results for the first quarter ended March 31, 2024. The company reported net revenues of $14.21 billion and net earnings of $4.13 billion. Diluted earnings per common share (EPS) were $11.58, with an annualized return on average common shareholders’ equity (ROE) of 14.8% for the first quarter of 2024.In a statement, David Solomon, Chairman and CEO of Goldman Sachs, expressed satisfaction with the quarterly performance, stating, “Our first quarter results reflect the strength of our world-class and interconnected...
Banking & Financial Services
Legal System Abuse Adding to Increasing Auto Insurance Costs, Creating A New Asset Class of Investors Betting on Litigation
By Business Daily | Feb 27, 2024
The Insurance Information Institute (Triple-I) has raised concerns about the impact of excessive litigation on rising auto insurance costs. According to a recent issues brief released by Triple-I, the rise in dangerous roads and driving conditions, coupled with economic costs, is being compounded by overzealous billboard attorneys. Sean Kevelighan, CEO of Triple-I, emphasized the need to address legal system abuse, stating, "The price of insurance is the effect, not the cause of risk, and there must be more work done to curb legal system abuse."Plaintiff attorneys are...
Banking & Financial Services
Triple-I Offers Reminders on Insurance Claim Filings for Consumers Impacted by California Atmospheric River Damages
By Business Daily | Feb 9, 2024
SAN FRANCISCO, Feb. 9, 2024—The Insurance Information Institute (Triple-I) is reminding homeowners, renters, businesses, and vehicle owners impacted by severe weather related to the West Coast Atmospheric River of what’s covered under standard insurance policies and how the insurance claim filing process works. "The damages and devastation brought to millions of West Coast residents from severe rain and wind this week highlight the importance of being financially protected from catastrophic losses," said Sean Kevelighan, CEO, Triple-I. "As financial first-responders, the...
Banking & Financial Services
Cyber Insurance Market Growing Dramatically, Triple-I Finds
By Business Daily | Feb 7, 2024
Direct written premiums for cyber insurance worldwide are projected to reach $23 billion by 2025, with U.S. businesses accounting for 56% of the total, according to a new report by the Insurance Information Institute (Triple-I). The report, titled "Cyber Insurance: State of the Risk," highlights two primary factors driving this trend.The first factor is the ever-present threat of data breaches and cyberattacks. With the increasing reliance on Internet of Things (IoT) technologies, the expansion of remote work, and the greater use of cloud data storage, U.S. businesses are...
Banking & Financial Services
Insurance Information Institute Highlights Accomplishments in 2023 Annual Report
By Business Daily | Jan 31, 2024
The Insurance Information Institute (Triple-I) has released its 2023 Annual Report, showcasing the organization's achievements in a year marked by a record number of weather and climate disasters in the United States. These disasters resulted in at least $1 billion in damages.In his Annual Report letter, Triple-I CEO Sean Kevelighan emphasized the significance of climate risks and the insurance industry's response to them. He stated, "Triple-I is making clear how U.S. insurers and reinsurers have long been seeing the impacts of increased climate risk and are promoting a...
Banking & Financial Services
Commercial Lines Outperform Personal, Though Underwriting Losses Persist: Triple-I/Milliman Report
By Business Daily | Jan 30, 2024
The property/casualty industry continues to face challenges in underwriting losses, according to the latest report from the Insurance Information Institute (Triple-I) and Milliman. The 2023 net combined ratio for the industry is forecast to be 103.9, with commercial lines performing better than personal lines. Commercial lines have a net combined ratio of 97.7, while personal lines have a ratio of 109.9.The main driver of the adverse results is the record levels of severe convective storm losses. Despite this, the industry is experiencing growth, with a forecasted net...
Economics
'We call it 'ESG' instead: Entrepreneur notes hypocrisy in ESG 'antitrust violations'
By Jacob Stump | May 10, 2022
Mark Brnovich, Arizona's Attorney General, announced in a Wall Street Journal op-ed March 6 an anti-trust investigation into Environment, Social, and Governance (ESG) policies and organizations like Climate Action 100+ for allegedly steering markets away from traditional energy sources and toward green energy. Texas is also trying to reign in ESG-focused companies.
Economics
'Potentially unlawful market manipulation': ESG faces antitrust allegations from Arizona AG in connection with greenhouse emissions targets
By John Kelly | Apr 22, 2022
BlackRock has issued a statement about what its investment portfolio will look like in 2030 pertaining to Environmental, Social and Governance (ESG) policies.
People
Jobless claims in Indiana number 673,220 since COVID-19 shutdowns began
By Indiana Business Daily reports | May 29, 2020
Jobless claims filed by Indiana residents since the start of coronavirus shutdown orders in mid-March have hit 673,220, or 19.8 percent of the state’s workforce, according to a new analysis from the website 24/7 Wall St.
People
Jobless claims in Arizona number 580,559 since COVID-19 shutdowns began
By Arizona Business Daily reports | May 29, 2020
Jobless claims filed by Arizona residents since the start of coronavirus shutdown orders in mid-March have hit 580,559, or 16.5 percent of the state’s workforce, according to a new analysis from the website 24/7 Wall St.
Government
Highest income earners in Indiana taxed at 6.8% rate
By Indiana Business Daily reports | Feb 21, 2020
The top 1 percent of earners in Indiana are taxed at an effective rate of 6.8 percent, compared to the state’s 11.1 percent tax rate on the middle 20 percent of income earners, according to a new 24/7 Wall St. analysis.
Government
Highest income earners in Arizona taxed at 5.9% rate
By Arizona Business Daily reports | Feb 21, 2020
The top 1 percent of earners in Arizona are taxed at an effective rate of 5.9 percent, compared to the state’s 9.4 percent tax rate on the middle 20 percent of income earners, according to a new 24/7 Wall St. analysis.
People
Cost of a childless divorce in Indiana is $11,400
By Indiana Business Daily reports | Feb 7, 2020
The average cost of divorce in Indiana with no children involved is $11,400, the 34th highest amount among the 50 states, according to an analysis published by the website 24/7 Wall St.
Cost of a childless divorce in Arizona is $13,000
By Arizona Business Daily reports | Feb 7, 2020
The average cost of divorce in Arizona with no children involved is $13,000, the 22nd highest amount among the 50 states, according to an analysis published by the website 24/7 Wall St.
Top News
Which U.S. schools receive the most federal student aid?
By Local Labs News Service | Jan 6, 2020
Ivy Tech Community College, Indiana University-Purdue University-Indianapolis and Purdue University-Main Campus reported receiving the most federal financial aid in the state during the 2018-19 academic year among U.S. schools.
Top News
Which U.S. schools receive the most federal student aid?
By Local Labs News Service | Jan 6, 2020
University of Phoenix-Arizona, Arizona State University-Tempe and Northern Arizona University reported receiving the most federal financial aid in the state during the 2018-19 academic year among U.S. schools.
Top News
Which U.S. schools receive the least federal student aid?
By Local Labs News Service | Dec 22, 2019
American Institute of Interior Design, International Baptist College and Seminary and DeVry University-Arizona reported receiving the least federal financial aid in the state during the 2018-19 academic year among U.S. schools.
Top News
Which U.S. schools receive the least federal student aid?
By Local Labs News Service | Dec 22, 2019
Ideal Beauty Academy, Vincennes Beauty College and Saint Elizabeth School of Nursing reported receiving the least federal financial aid in the state during the 2018-19 academic year among U.S. schools.
Education
4-year colleges in Indiana now charge $9,675 in tuition and fees
By Indiana Business Daily reports | Dec 14, 2019
Indiana four-year public universities now charge students annual in-state tuition and fees averaging $9,675, the 27th highest amount among the 50 states and the District of Columbia, the College Board said in a new report.
Top News
Which U.S. schools receive the most state student aid?
By Local Labs News Service | Dec 9, 2019
University of Arizona reported receiving the most state financial aid in the state during the 2018-19 academic year among U.S. schools.
Top News
Which U.S. schools receive the most state student aid?
By Local Labs News Service | Dec 9, 2019
Indiana University-Purdue University-Indianapolis, Indiana University-Bloomington and Ball State University reported receiving the most state financial aid in the state during the 2018-19 academic year among U.S. schools.
Government
Indiana 2-year college students pay $4,710 in tuition and fees
By Indiana Business Daily reports | Dec 7, 2019
Indiana two-year colleges charged students $4,710 in tuition and fees during the 2018-19 academic year, the 32nd lowest cost among 49 states examined, the College Board said in a new report.