News published on Business Daily in April 2024

Morgan Stanley Reports First Quarter 2024Morgan Stanley has announced that a conference call to discuss the results of the first quarter of 2024 will be held on April 16, 2024, at 9:30 a.m. (ET). The call will be available both live and on-demand via webcast on their website in the Investor Relations section.In a statement, Morgan Stanley emphasized the importance of respecting the copyright of their presentation, stating, "IMPORTANT INFORMATIONThis presentation by Morgan Stanley is copyrighted and proprietary, and all rights are reserved. Any recording, rebroadcast or...

Tech Thwarts Flames, Averts Catastrophe

Thomas, a member of his local fire department, recently shared his experience with a Ting electrical fire monitoring device that detected an electrical problem in his home. According to Thomas, "The detection of an arching problem, when electricity 'jumps' across a tiny gap in a connection, was discovered by this device and allowed for immediate action to take place."Ting, a device that monitors the electrical network of a home, has been successful in preventing potential fires. It has detected over 500 fire hazards and alerted homeowners before a fire ignites, as...

Younger Travelers Driving Surge in Live Event Travel, Survey Shows

COLUMBUS, OH (April 16, 2024) – A new study conducted by AAA and Bread Financial has revealed that younger generations are significantly impacting the landscape of live event travel. According to the survey, approximately three in five Gen Z and Millennial respondents have either traveled or plan to travel for in-person events like concerts, sporting events, comedy shows, and book readings that are more than 50 miles from home.The study found that younger travelers are willing to go the extra mile, with more than half of Gen Z travelers opting for plane travel and a...

Goldman Sachs to Redeem Depositary Shares Representing Series K Preferred Stock

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...

Get ready for the NFL Draft with Peyton Manning

NFL Hall of Famer Peyton Manning is stepping into a new role to help upcoming NFL Draft prospects prepare for the big night. In Nationwide's latest ad campaign titled "Draft Night Drills," Manning is using his experience as the 1998 NFL Draft #1 pick to guide draftees through various scenarios they may encounter.The campaign, which includes a 30-second commercial, showcases Manning coaching fictional prospects on essential aspects of Draft night, such as selecting the perfect outfit and mastering the art of embracing the commissioner. Reflecting on this initiative,...

US managed care insurers projected for Q1 2024 revenue growth

The majority of US health insurers are projected to record year-over-year revenue growth for the first quarter of 2024, despite nearly half of them expecting a drop in Earnings Per Share (EPS) during the same period. This forecast is based on an S&P Global Market Intelligence analysis of sell-side analyst predictions.

AF Group Joins Triple-I as Its Latest Member

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...

Goldman Sachs Reports 2024 First Quarter Earnings Per Common Share of $11.58 and Annualized Return on Common Equity of 14.8%

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...

Goldman Sachs Declares Preferred Stock Dividends

By Business Daily | Apr 12, 2024

Goldman Sachs Group, Inc. has announced dividends on various series of its non-cumulative preferred stock. The declaration includes dividends on different preferred stock series, with specific amounts allocated to each category.According to Goldman Sachs Group, Inc., the dividends declared are as follows:- "$385.79 per share of Floating Rate Non-Cumulative Preferred Stock, Series A;"- "$385.79 per share of Floating Rate Non-Cumulative Preferred Stock, Series C;"- "$380.90 per share of Floating Rate Non-Cumulative Preferred Stock, Series D;"- "$398.44 per share of...

SBA Statement on Biden-Harris Administration Exceeding Small Disadvantaged Business Contracting Goal

By Business Daily | Apr 12, 2024

Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA), praised President Biden's administration for surpassing the annual goal for federal contracting dollars awarded to Small Disadvantaged Businesses (SDBs) in FY2023. Guzman stated, "Today’s announcement shows the results, with a new record of contract spending with Small Disadvantaged Businesses and steady progress towards President Biden’s goal of awarding 15% of federal contracting dollars to Small Disadvantaged Businesses by FY2025."In response to President Biden's call to...

Globe Life shares drop and rebound following short seller report

By Business Daily | Apr 12, 2024

Shares of Globe Life Inc. experienced one of their most significant drops on record this past Thursday, following a report by short seller Fuzzy Panda Research alleging fraudulent practices within the company and its subsidiary, American Income Life Insurance Company. The Texas-based life insurer's stock plunged over 50% in response to these claims.

New Small Business Applications Soar to Over 17 Million Under Biden-Harris Administration

WASHINGTON – In a statement released today by Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), it was revealed that an astonishing 17 million new business applications have been filed under the Biden-Harris Administration.Guzman emphasized the impact of President Biden's economic leadership, stating, “President Biden’s Investing in America Agenda has ignited a historic Small Business Boom, as more Americans than ever seek to start a business.” She highlighted the significance of each new business as "an act of hope and confidence...

Morgan Stanley Strengthens Alliance for Children’s Mental Health with New Funding and Members

New York - Morgan Stanley has announced a significant financial commitment to its Alliance for Children’s Mental Health, with a total funding of $50 million since its inception in 2020. The latest pledge of $20 million over the next five years aims to bolster the Alliance's efforts in delivering programming, research, and innovative solutions to support children's mental health.The Alliance has expanded its reach by welcoming two new members, the American Academy of Pediatrics and Sesame Workshop, to collaborate on enhancing mental health support for children. Ted Pick,...

Triple-I: Insurance Economic Drivers Outperforming Overall US GDP, and Likely to Gain Further Momentum on Federal Reserve Cuts

The economic drivers of the U.S. property/casualty (P/C) insurance industry are showing promising growth, outpacing the nation's Gross Domestic Product (GDP) and poised to accelerate even more with potential Federal Reserve monetary rate cuts. According to Michel Léonard, chief economist and data scientist at the Insurance Information Institute (Triple-I), "Triple-I forecasts P&C underlying growth to increase to 3.4% in 2024, 1.2% above the Fed’s GDP forecast of 2.2%."Léonard further stated, "Triple-I expects P&C underlying growth to continue outperforming overall GDP...

SBA Launches Digital Hub to Connect Small Businesses with Major Funding in President Biden’s Investing in America Agenda