Banking & Financial Services News on Business Daily

Three new properties have been awarded the prestigious AAA Five Diamonds.

Morgan Stanley has announced its receipt of two awards from the Money Management Institute (MMI) and Barron's for 2024.

AAA has released new research indicating that 2024 model vehicles equipped with automatic emergency braking (AEB) systems are significantly more effective at avoiding forward collisions than older models from 2017-2018. The study, conducted in collaboration with the Automobile Club of Southern California’s Automotive Research Center, tested both old and new vehicles under controlled conditions. Results showed that newer models avoided collisions entirely at speeds up to 35 mph, while older models only managed a 51% success rate.

Morgan Stanley has announced that Ted Pick, the current Chief Executive Officer, will assume the role of Chairman starting January 1, 2025. This decision was made by the company's Board of Directors.

Global investment firm Carlyle announced the listing of Rigaku Holdings Corporation on the Prime Market of the Tokyo Stock Exchange.

The commercial auto insurance sector has faced challenges in achieving underwriting profitability for several years, a situation that predates the recent inflationary pressures affecting property and casualty lines. Despite steady growth in net written premiums, this line of insurance continues to struggle, as reported by the Insurance Information Institute (Triple-I), an affiliate of The Institutes.

CorroHealth has announced a strategic partnership with Patient Square Capital, a health care investment firm. The agreement involves Patient Square making a significant investment in CorroHealth, which provides revenue cycle management solutions to health systems and plans. Current shareholders, including Carlyle, TT Capital Partners, Sanaka Group, and CorroHealth management, will remain involved as investors. Patient Square and Carlyle will share joint control of the company.

The Insurance Information Institute (Triple-I) has initiated a campaign to highlight the effects of legal system abuse on consumers, businesses, and insurers in Georgia. This effort includes an Interstate 20 billboard in Downtown Atlanta and digital billboards throughout Metro Atlanta at bus stops and other urban locations.

Morgan Stanley has introduced AskResearchGPT, a generative AI-based assistant designed to aid its Investment Banking, Sales & Trading, and Research teams. This tool is intended to streamline the process of accessing and summarizing data from Morgan Stanley's extensive research library, which includes over 70,000 proprietary reports published each year.

Morgan Stanley Investment Management has successfully closed its North Haven Tactical Value II Fund LP and affiliated funds, raising approximately $2 billion in committed capital. This marks a nearly 50 percent increase over the predecessor fund, NHTV I. The new fund aims to offer credit, hybrid, and non-control equity investments in high-quality companies across various sectors and geographies. It attracts both institutional investors and qualified individual investors.

Morgan Stanley has released the findings of its 2024 Retirement Plan Survey, highlighting changing attitudes and strategies among 401(k) plan sponsors. The survey reflects a growing reliance on consultants to navigate the complexities of retirement planning.

Morgan Stanley has announced the schedule for its quarterly investor conference calls to discuss financial results for the fourth quarter and full-year 2024, as well as the first three quarters of 2025.

Morgan Stanley Wealth Management has released the findings of its latest quarterly retail investor pulse survey, highlighting a cautious optimism among investors despite short-term market volatility. The survey reveals that while 59% of investors remain bullish, this figure has decreased by two percentage points from the previous quarter due to concerns over the US election and geopolitical tensions.

Litmus Music has announced a creative partnership with Randy Newman, acquiring his share of recorded music and publishing rights. The deal covers Newman's work on Disney film franchises such as Toy Story, Cars, Monsters Inc., and The Princess and the Frog. It also includes his hits from the 1970s and 1980s like "I Love L.A." and "Mama Told Me Not To Come."

Morgan Stanley has announced that its Portfolio Risk Platform has been recognized by Datos Insights as a winner of the 2024 Digital Wealth Management Impact Innovation award for Advisor Enablement. This award highlights excellence and innovation in enabling wealth managers to better serve their clients.

Morgan Stanley is set to discuss its third-quarter results for 2024 in a conference call scheduled for October 16, 2024, at 8:30 a.m. Eastern Time. The financial institution has made provisions for both live and on-demand versions of the webcast, which will be accessible through its website in the Investor Relations section.

The national average price for a gallon of gasoline has increased by two cents to $3.21 over the past week. This rise comes as several regions across the United States are dealing with significant storm damage caused by Hurricane Milton. Although similar to Hurricane Helene, Milton is not expected to severely impact national gasoline supplies, it will likely affect demand in areas where infrastructure has been destroyed, roads are flooded, and power outages persist.

First-half economic and underwriting results for the U.S. property/casualty (P/C) industry have surpassed expectations, according to a new report from the Insurance Information Institute (Triple-I) and Milliman. The report, titled "Insurance Economics and Underwriting Projections: A Forward View," highlights an improvement in the net combined ratio (NCR), which stands at 99.4—a 2.3-point enhancement compared to last year.

The Carlyle Group Inc. has announced it will release its financial results for the third quarter of 2024 on November 7. A conference call is scheduled for the same day at 8:30 a.m. EST, which will be accessible via a public webcast on the Events & Presentations section of ir.carlyle.com. The webcast replay will be available following the call.

Financial security plays a crucial role for victims of domestic violence when considering leaving an abusive relationship, according to the Insurance Information Institute (Triple-I). The organization highlights insurance as a vital component of financial planning that can aid survivors in moving forward.