Banking & Financial Services News on Business Daily

Florida residents are urged to complete preparations as Hurricane Milton approaches the state's west-central Gulf Coast. The Insurance Information Institute (Triple-I) reports that the hurricane, now a Category 5 storm with sustained winds of 160 mph, is expected to make landfall on Wednesday, October 9.

Despite challenges both domestically and internationally, the national average price for a gallon of gasoline has decreased by three cents to $3.19. The recent impact of Hurricane Helene did not significantly affect gasoline supply but reduced demand in affected areas due to infrastructure damage and power outages. Public electric vehicle charging costs have remained stable.

Abigail Dean, Global Head of Strategic Insights for Nuveen Real Assets said that demand for real assets is increasingly driven by megatrends like urbanization and energy needs. With inflation stabilizing and interest rates holding steady, she sees this as an opportune moment for investors to reenter the market, as corporate prices may be at a low point while natural capital shows continued value gains.

On September 24, McKinsey & Company reported that the U.S. private credit market has grown to nearly $2 trillion. The report highlights a shift toward nonbank lending, reshaping the financial landscape as banks withdraw from leveraged lending.

E*TRADE from Morgan Stanley has published its monthly sector rotation study, which analyzes the buying and selling behavior of its customers in relation to stocks within the S&P 500 sectors. This data provides insights into customer trends based on notional net percentage buy/sell activity.

TJC LP, a middle-market private equity firm focused on North American businesses, has announced the closure of its second continuation fund at $2.1 billion. This fund extends The Resolute Fund III, L.P. and includes an asset jointly owned with The Resolute Fund IV, L.P.

Three hotels have earned the AAA Diamond Program’s highest distinction of Five Diamonds: Waldorf Astoria Chicago, The Setai, Miami Beach, and Four Seasons Hotel San Francisco. These properties are recognized for their luxurious surroundings and unparalleled service. Additionally, more than a dozen hotels and restaurants joined the AAA Four Diamonds list this month. Four Diamond properties offer upscale amenities and distinctive fine dining.

Morgan Stanley Investment Management (MSIM) has finalized the 1GT climate private equity fund, securing $750 million in equity capital commitments. The 1GT fund focuses on growth-oriented investments in North American and European companies with the goal of avoiding or removing one gigaton of carbon dioxide-equivalent (CO2e) emissions from the atmosphere by 2050. Leading institutions from Europe, Japan, and North America participated in this investor group.

The national average for a gallon of gas fluctuated slightly before stabilizing at $3.22, the same price as a week ago. Recent declines in pump prices have been interrupted by the rapid intensification of Hurricane Helene. In contrast, the average cost of public EV charging remained unchanged.

Residents in Florida, Georgia, and the Carolinas are urged to finalize their preparations as Hurricane Helene approaches. The Insurance Information Institute (Triple-I) reports that the hurricane is expected to make landfall along Florida’s Gulf Coast on Thursday, September 26.

Excess and surplus lines (E&S) have experienced growth for five consecutive years, marked by double-digit percentage increases. This trend is attributed to solid underwriting results driving operating profitability due to new risks and reduced capacity in admitted markets. These insights are part of the Insurance Information Institute’s (Triple-I) latest issues brief, "Excess and Surplus: State of the Risk."

The national average for a gallon of gas dipped by two cents since last week to $3.22, according to data released on September 19, 2024. This decrease follows a period of more significant declines but was slowed by the arrival of Hurricane Francine on the Gulf Coast, which temporarily affected oil production and refining in the area. In contrast, the national average cost for public EV charging remained unchanged.

Global investment firm Carlyle (NASDAQ: CG) announced an agreement to purchase up to $300 million of equity sharing home loans from Unison, a pioneer in equity sharing agreements. Carlyle also made a strategic investment into Unison, facilitating the launch of the Unison Equity Sharing Home Loan product, which allows homeowners to access their growing pool of home equity.

Global investment firm Carlyle (NASDAQ: CG) announced a strategic partnership with North Bridge ESG LLC ("North Bridge") to provide up to $1 billion for the origination of commercial property assessed clean energy (C-PACE) loans. This collaboration aims to leverage Carlyle's expertise in strategic growth, real estate, and asset-backed finance to enable North Bridge to meet evolving market demands on a larger scale.

WASHINGTON, DC (September 16, 2024) – As temperatures dip and leaves change across many parts of the U.S., travelers are seizing the opportunity for picturesque fall getaways. Autumn is also an ideal time for international travel, particularly to Europe, where destinations are less crowded compared to summer.

Morgan Stanley announced the 2024 global cohort of the Inclusive Ventures Lab, comprising 25 companies selected from the Americas and Europe, the Middle East, and Africa (EMEA). The five-month accelerator program aims to support technology and technology-enabled startups in their seed to Series A funding stages.

A new AAA analysis of five years of government crash data reveals a concerning trend: child seat and booster use declines after a child turns three, despite the continued need for these safety devices. This is alarming, given that more than 100,000 children were injured in car crashes in 2022 alone, according to the National Highway Traffic Safety Administration (NHTSA). As National Child Passenger Safety Week (Sept. 15-21) approaches, AAA and the National Safety Council (NSC) highlight the importance of proper car seat use and offer essential tips to keep young passengers...

The national average for a gallon of gas has continued its decline, dropping six cents since last week to $3.24. The primary factors behind this decrease are low demand and falling oil costs. Concurrently, the national average cost for public electric vehicle (EV) charging has increased by one cent after remaining static for several months.

Sedgwick, a global provider of claims management and technology-enabled business solutions, announced a strategic investment from Altas Partners, a North American private equity firm. Existing investors, including Carlyle and Stone Point Capital LLC, will continue their investments in Sedgwick, with Carlyle maintaining its control position.

Orlando, Fla. (September 12, 2024) – AAA, one of North America’s largest and most trusted membership organizations, is adding DIRECTV, a leader in sports and entertainment content distribution, to its extensive portfolio of benefits available to AAA members. This newest benefit connects AAA members with their favorite content – allowing them to stream DIRECTV satellite-free at home or on the go.