News from June 2024
By Business Daily | Jun 28, 2024
Goldman Sachs ETF Accelerator announces first fund launched in EMEA through the platform
By Business Daily | Jun 28, 2024
NEW YORK, NY, June 28, 2024 – On Wednesday, June 26, the Federal Reserve notified The Goldman Sachs Group, Inc. (NYSE: GS) of a Stress Capital Buffer (SCB) of 6.4%, resulting in a Standardized Common Equity Tier 1 (CET1) ratio requirement of 13.9%, effective October 1, 2024.
By Business Daily | Jun 28, 2024
The U.S. Small Business Administration (SBA) announced a new funding solicitation for its Regional Innovation Cluster (RIC) Initiative, marking the first time awards will be made at two funding levels: emerging and mature clusters. The RIC solicitation will open on July 1, 2024, and close on July 26 at 1:00 PM ET.
By Business Daily | Jun 27, 2024
Ace Hardware has announced a 100th Anniversary Block Party across the country on Saturday, June 29, to celebrate the organization's centennial milestone.
By Business Daily | Jun 27, 2024
Peter Cunningham, a consultant at Chicago CRED, stated that the Sue Ling Gin Foundation's support has helped the organization advance its mission of reducing gun violence and creating economic opportunities for at-risk youth in Chicago. Cunningham shared his statement with Business Daily during a June 18 interview.
By R. B. Pepalis | Jun 27, 2024
The national average for gasoline has risen by five cents over the past week, reaching $3.50 per gallon, according to recent data. This increase follows a period of nearly three weeks without significant changes in prices and coincides with oil prices surpassing $80 per barrel. The cost of oil, which constitutes approximately 54% of gasoline prices, plays a crucial role in determining pump costs.
By A. I. Benavidez | Jun 27, 2024
A March 19 report from the American Tort Reform Association (ATRA) found that the personal injury law firm Morgan & Morgan spent $14,758,223 on legal services advertisements in California last year.
By Business Daily | Jun 26, 2024
Flying Food Group was honored with the North American Airline Caterer of the Year award at the 2024 PAX Readership Awards.
By Business Daily | Jun 26, 2024
Researchers at the Insurance Information Institute (Triple-I) have determined that home insurance premiums in Florida rose at a much lower rate than originally projected in 2022 and 2023. The significant differences in premium averages reflect the impact of legislative legal system abuse reforms as well as lower levels of inflation in replacement costs. Both factors were not anticipated at the time Triple-I’s estimates were made.
By Business Daily | Jun 26, 2024
Morgan Stanley Wealth Management (MSWM) announced today a significant addition to its AI @ Morgan Stanley suite of GenAI tools for Financial Advisors (FAs). The new tool, AI @ Morgan Stanley Debrief, powered by OpenAI, generates notes during client meetings and identifies action items with client consent. Post-meeting, it summarizes key points, drafts an email for the Advisor to edit and send, and saves a note into Salesforce.
By Business Daily | Jun 25, 2024
Investment funds managed by Morgan Stanley Energy Partners announced the closing of the sale of Durango Permian LLC to a subsidiary of Kinetik Holdings Inc. The consideration for the sale includes a combination of cash and equity, along with contingent consideration payable upon the successful commissioning of Durango Permian’s Kings Landing Gas Gathering and Processing Development.
By R. B. Pepalis | Jun 25, 2024
In 2023, the United States experienced a total of 242 million lightning flashes, as reported by the 2023 Annual Lightning Report by Vaisala Xweather. State Farm paid out nearly $230 million for over 18,000 lightning-related claims in the same year, averaging just over $18,000 per claim.
By Business Daily | Jun 24, 2024
NEW YORK, June 24, 2024 — The Board of Directors of The Goldman Sachs Group, Inc. (NYSE: GS) announced the appointment of John B. Hess as an independent director of the Board, effective June 24, 2024. Mr. Hess will also become a member of each of the Board’s Compensation, Governance and Risk Committees.
By A. D. Bamburg | Jun 24, 2024
Grand Velas Boutique Hotel Los Cabos in San Jose del Cabo, Mexico, has been awarded the prestigious AAA Five Diamond Designation. This adults-only, all-inclusive resort features views of the Sea of Cortez, 79 suites, a private beach, and an infinity pool. According to AAA, Five Diamond hotels provide luxurious amenities and impeccable service for a unique experience.
By Business Daily | Jun 24, 2024
Global, 24 June 2024 - Apex Group Ltd. (“Apex”) has announced that global investment firm Carlyle’s Global Credit business (“Carlyle”) and Goldman Sachs Private Credit (“Goldman Sachs”) have jointly committed in excess of $1.1 billion into the global financial services provider. This commitment supports Apex’s sustainable growth strategy, following the successful integration of several previous acquisitions, continued strong organic growth, and technological innovations.
By K. R. Nelson | Jun 24, 2024
State Farm has expressed concern for those affected by the South Fork and Salt fires in central New Mexico. The company extends its support to all individuals and communities impacted, including firefighters, first responders, and volunteers working to contain the fires.
By Business Daily | Jun 24, 2024
London, UK – 24 June, 2024 – Global investment firm Carlyle (NASDAQ: CG) announced the launch of a new evergreen private equity strategy, Carlyle AlpInvest Private Markets SICAV ("CAPM SICAV" or the "Fund"). This initiative offers investors worldwide, excluding the US, access to a global portfolio of private markets investments through Carlyle's Global Investment Solutions business, AlpInvest.
By K. R. Nelson | Jun 21, 2024
Maura Freiwald, head of casualty at Munich Reinsurance America (Munich Re U.S.), stated in a March 4 press release that many survey respondents were unaware of the practice of third-party litigation funding (TPLF) and its impact on higher insurance costs.
By R. B. Pepalis | Jun 21, 2024
Paula Twidale, the current Senior Vice President of AAA Travel, will retire at the end of December 2024, concluding a notable 40-year career in the travel industry. Twidale's career began in the airline sector at Boston’s Logan International Airport before she transitioned to tour and leisure travel. She has achieved several milestones, including serving as the first woman board chair of the United States Tour Operators Association and being nominated five times by Travel Agent Magazine as one of the most powerful women in travel.
By A. D. Bamburg | Jun 20, 2024
WASHINGTON, DC (June 20, 2024) – AAA projects that 70.9 million travelers will journey 50 miles or more from home over the Independence Day holiday travel period. For the first time, AAA analyzed the entire July 4th week, including the Saturday before and the Sunday after the holiday. This year’s projected number of travelers for that time period represents a 5% increase compared to 2023 and an 8% increase over 2019.