Stories by Business Daily on Business Daily

Graystone Consulting, a business of Morgan Stanley, has once again been recognized for its excellence in the financial services industry. The company announced that it has been named a Quality Leader for the third consecutive year by Coalition Greenwich in Overall U.S. Investment Consulting among large consultants.Jeremy France, Head of Institutional Consulting Solutions at Morgan Stanley, expressed his pride in the achievement, stating, “Our clients are at the heart of Graystone, and we focus on bringing them the best of what our organization offers – boutique-level...

SBA Recognizes 2023 T.H.R.I.V.E. Program Winners

Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), announced the recognition of the 2023 T.H.R.I.V.E. Emerging Leaders Reimagined cohort winners in Seattle and North Metro Puerto Rico. Guzman emphasized the Biden-Harris Administration's commitment to supporting small businesses through initiatives like the T.H.R.I.V.E. program, stating, "T.H.R.I.V.E. trainers play a crucial role in developing a robust network of trusted advisors and peer support networks across the country."The T.H.R.I.V.E. program, which stands for Train. Hope....

SBA Announces 2024 Growth Accelerator Fund Competition Stage One Winners, Up to $3 Million in Prizes Awarded

The U.S. Small Business Administration (SBA) has announced the winners of the 2024 Growth Accelerator Fund Competition (GAFC) Stage One, with each recipient receiving $50,000 in prize awards. Administrator Isabel Casillas Guzman highlighted the significance of these winners in fostering innovation and supporting small businesses, stating, "SBA’s Growth Accelerator Fund Competition Stage One winners join the SBA’s incredible network of entrepreneurial support organizations contributing to America’s innovative startup ecosystem."The competition focused on three theme areas:...

Innovative spaces await: Linden Branch remodel is underway

The Linden neighborhood in Columbus, Ohio, is set to undergo a transformation with the remodeling of the Columbus Metropolitan Library’s (CML) Linden Branch. The project, which will more than double the size of the current library branch, kicked off with a ceremonial "wall breaking" event on April 17, 2024.Ralph Carter, the founder of We Are Linden, a non-profit organization dedicated to empowering the community, expressed his enthusiasm for the project, stating, “It’s going to be a great thing. We need places like this as a safe haven. That’s one of the biggest things...

US life insurers' Q1 earnings projected to grow year-over-year and sequentially

The first quarter of 2024 is projected to bring growth in earnings for the majority of US life insurers, both on a year-over-year and sequential basis. Analyst estimates compiled by S&P Global Market Intelligence indicate that out of 15 publicly traded US life insurers, 12 are expected to record year-over-year increases in first-quarter earnings. The same group is also anticipated to perform better sequentially, with eight projected to have higher earnings in Q1 2024 than in the preceding quarter.

Flying Food Group donates to aid areas impacted by wildfires

Flying Food Group has announced their annual donations to One Tree Planted will be directed specifically towards areas impacted by wildfires.

The Future of Insurance podcast: Chetan Kandhari

Nationwide Chief Innovation and Digital Officer Chetan Kandhari recently addressed the key questions surrounding innovation in the insurance industry. In a podcast episode titled "The Future of Insurance," Kandhari pondered, "How does a Fortune 100 company innovate in a highly regulated industry? And where, and where doesn’t it, make sense to implement generative artificial intelligence?"Kandhari's insights shed light on Nationwide's strategic approach to innovation in an industry known for its stringent regulations and traditional practices. The discussion delved into...

Resilient Waters Fund Wins the 2024 Kellogg-Morgan Stanley Sustainable Investing Challenge

The Resilient Waters Fund team from the University of Utah's David Eccles School of Business emerged as the winners of the 14th annual Kellogg-Morgan Stanley Sustainable Investing Challenge. Their proposal to save Utah's Great Salt Lake earned them the top prize of $10,000. The fund aims to protect the Great Salt Lake by catalyzing funds through a creative land trust mechanism, promoting irrigation efficiency, responsible cropping, and water savings.Jessica Alsford, Morgan Stanley’s Chief Sustainability Officer and CEO of the Institute for Sustainable Investing,...

Spelman College Wins Goldman Sachs’ Fourth-Annual Market Madness Competition and $1 Million Grant

Goldman Sachs' HBCU Market Madness competition concluded with Spelman College emerging victorious for the third time in four years, securing a $1 million grant. The event, which is part of the firm's HBCU Possibilities Program, saw finalists from Delaware State University, Florida A&M University, Howard University, and Spelman College present case studies to top Goldman Sachs and Nike executives.Megan Hogan, Goldman Sachs' global head of Talent and chief diversity officer, expressed admiration for the talent showcased by HBCU students during the competition, stating, "The...

National Breathe Free Sinus and Allergy Founder announces support for C4 Foundation to support Navy SEALs

By Business Daily | Apr 19, 2024

Matt Ghanem, the founder of National Breathe Free Sinus and Allergy, underscored his organization's commitment to the C4 Foundation, an organization that supports Navy SEALs and their families. Ghanem made his statement to Business Daily on April 3.

Travelers' stock dips amid elevated catastrophe losses in Q1 2024

By Business Daily | Apr 19, 2024

Shares in The Travelers Cos. Inc. experienced a dip this week following the release of first-quarter earnings that revealed unexpectedly high catastrophe losses, contrasting with other sector heavyweights. The insurer reported a first-quarter net income of $1.12 billion, an increase from $975 million during the same period in 2023. However, catastrophe losses also escalated due to severe wind and hailstorms in the central and eastern regions of the US, reaching $712 million pretax, up from $535 million in 2023.

Israel-Iran conflict may drive up global shipping costs

By Business Daily | Apr 19, 2024

The global shipping industry is likely to experience a significant increase in freight, insurance, and crew wages in the near term due to Israel's retaliatory missile attack on Iran. However, ongoing loadings are expected to continue as usual, according to market participants on April 19.

Enclave opens new coworking space in Barrington

Enclave, an urban co-working space organization, announced the opening of a new location in Barrington, Illinois.

Nationwide Honors Innovators Behind 55 Patents and Counting

Nationwide, a Fortune 100 insurance and financial services mutual, recently celebrated the achievements of its innovative employees who have been actively inventing and patenting novel solutions. The company recognized 39 Nationwide inventors at the inaugural Nationwide Patent Award Ceremony, acknowledging their combined 55 patents and 21 patents pending from the U.S. Patent and Trademark Office.“Invention is the most important product of man’s creative brain,” wrote Nikola Tesla, emphasizing the significance of innovation in shaping the world. Tesla further highlighted,...

Business Life Insurance Solutions for Turbulent Times

In a recent podcast, Nationwide Chief Economist Kathy Bostjancic and Nationwide Business Solutions Group Vice President Jessica Dowdy discussed how business life insurance can assist business owners in navigating the challenges of the current economic and labor markets. Dowdy highlighted the importance of solutions like corporate-owned life insurance (COLI) and bank-owned life insurance (BOLI) in addressing these issues.Dowdy emphasized the impact of the COVID-19 pandemic on business owners, stating, “Business owners are still reeling from the impacts of COVID, facing...

SBA Announces National Small Business Week Virtual Summit Schedule

WASHINGTON –Today, the U.S. Small Business Administration (SBA) and SCORE, mentors to America’s small businesses and a resource partner of the SBA, announced the schedule for the 2024 National Small Business Week Virtual Summit. The two-day online event, co-hosted by the SBA and SCORE, will take place from April 30 to May 1. Attendance is free of charge, but registration is required. To register, visit National Small Business Week Virtual Summit registration.This year’s National Small Business Week’s theme – “Building on the Small Business Boom” –celebrates the surge in...

Insurance Capital Adequacy Criteria: Expected Impact Post-UCO Resolution

On November 15, 2023, revised insurance risk-based capital adequacy criteria were released, assigning a UCO identifier to ratings that could potentially be affected by the change. This designation was used to highlight the possibility of a rating action on specific issuer and issue ratings. A UCO identifier was assigned to one or more ratings on 63 issuers, their subsidiaries, or related issues.

Is the Recent Climb in the Price of Gas About to Stall?