Banking & Financial Services News on Business Daily

Nationwide has launched new educational materials to enhance financial understanding for families during Financial Literacy Month in April. According to Amelia Dunlap, vice president of Marketing for Nationwide Retirement Solutions, one of the key challenges many Americans face is getting started with saving for retirement.Dunlap emphasized the importance of early financial education, stating, "Understanding the basics of money management, budgeting, investing, and retirement planning is a critical life skill." Nationwide's initiative includes a financial knowledge quiz,...

New data from Nationwide has highlighted concerning trends regarding distracted driving among both standard and commercial drivers. According to a recent driving behaviors survey, one-third of commercial drivers admit to feeling distracted behind the wheel, with 6 in 10 acknowledging that their peers are using their phones more frequently and driving faster than before.The primary causes of distraction for commercial drivers include using GPS/Nav systems, responding to work text messages, talking on mobile phones, and checking social media apps. Many of these actions are...

Morgan Stanley Capital Partners has announced the acquisition of Resource Innovations, a leading tech-enabled services company focusing on energy efficiency and sustainability. The acquisition involved MSCP acquiring a controlling interest in the company from BV Investment Partners and other shareholders. Founder Lauren Casentini will continue to lead Resource Innovations as the Chief Executive Officer.Resource Innovations, headquartered in the San Francisco Bay Area, provides advisory services, program management services, and software to utility, government, and...

E*TRADE from Morgan Stanley today released the data from its monthly sector rotation study, based on the E*TRADE customer notional net percentage buy/sell behavior for stocks that comprise the S&P 500 sectors.The study provides valuable insights into the market trends, as highlighted by E*TRADE from Morgan Stanley. The company's analysis reveals significant information about the sector rotation dynamics, offering a glimpse into the behavior of investors within the S&P 500 sectors.As stated by E*TRADE from Morgan Stanley, "The material provided by E*TRADE Securities LLC...

Millions of Americans are eagerly anticipating the upcoming solar eclipse on April 8, a celestial event that is expected to captivate viewers across the country. With businesses located along the path of totality gearing up for potential opportunities and challenges, experts are advising proactive measures to ensure a smooth operation during this unique event.Mark McGhiey, Nationwide’s leader of Commercial Lines Loss Control Services, emphasized the importance of preparation for business owners. McGhiey stated, "There are several steps a business owner should be taking to...

Morgan Stanley Investment Management (“MSIM”), through investment funds managed by Morgan Stanley Infrastructure Partners (“MSIP”), has announced an investment in The Pasha Group to support infrastructure investment in the Hawaii trade. Daniel Sailors, Managing Director for MSIP, expressed excitement about the partnership, stating, “We believe Pasha provides a critical and recurring service to the people of Hawaii and we welcome the opportunity to continue to be a capital partner to the Company going forward.”The Pasha Group, a family-owned maritime transportation...

Morgan Stanley Investment Management has announced that Fetch, a rewards app, has secured $50 million in debt financing from investment funds managed by Morgan Stanley Private Credit. The funding is intended to facilitate Fetch's expansion plans as it seeks to broaden its business operations.

WASHINGTON, D.C. (March 28, 2024)—After an early spring surge, the national average for a gallon of gas spent the past week drifting up and down by a fraction of a cent before settling a penny higher at $3.53. But the break may be temporary, as gas pump prices will likely resume a spring increase."Uncertainty of the impact of Ukraine’s targeting of Russia’s oil infrastructure likely spiked oil prices recently," said Andrew Gross, AAA spokesperson. "But those concerns have abated somewhat for now, and gas prices are settling into a pattern similar to last year when the...

A recent study conducted by the Nationwide Retirement Institute® (NRI) has shed light on the retirement concerns faced by women in the workplace. According to the research, one in four women feel they’re “on the wrong track” for retirement, compared to 15% of men. The study also found that 41% of women hold a negative or neutral outlook on their retirement planning, in contrast to just 29% of men.Cathy Marasco, leader of Protected Retirement for Nationwide Retirement Solutions, highlighted the challenges faced by women in retirement planning, stating, “Women are actively...

Five hotels and one restaurant have recently been added to AAA's prestigious Four Diamonds list, signifying excellence in cleanliness, comfort, cuisine, and consistency. Among the new additions are the Paradox Hotel and the AZUR Legacy Collection Hotel in Vancouver, British Columbia, Canada, as well as the Luminary Hotel & Co. in Fort Myers, Florida. Additionally, the Aguascalientes Marriott Hotel in Mexico and the Hotel Riu Palace Pacifico in Nuevo Vallarta, Nayarit, Mexico have also earned the Four Diamond designation.Mixtli, a restaurant in San Antonio, Texas, has also...

The use of All-Terrain Vehicles (ATVs) and Utility Task Vehicles (UTVs) has been on the rise in U.S. farms, proving essential for various tasks such as inspecting crops and livestock and transporting supplies. This surge in popularity is mirrored by the powersports industry's growth, with expectations to almost double in market value to $69 billion over the next decade.However, along with the increased utilization of these vehicles comes a heightened level of risk. According to the U.S. Consumer Product Safety Commission, over 700 deaths and 100,000 injuries treated in...

Puget Sound Kidney Centers has selected Nationwide Retirement Solutions to provide recordkeeping and education services for its 403(b) deferred retirement contribution plans, which boast over $25 million in assets under management and around 440 plan participants.“Our highest priority when choosing a new retirement services provider was ensuring that our employees have an excellent experience,” said Tom DeBord, President & CEO for Puget Sound Kidney Centers.In addition to recordkeeping and administrative services, Nationwide will offer participants holistic financial...

WASHINGTON, D.C. (March 21, 2024)—The national average for a gallon of gas rose 11 cents since last week to $3.52. While domestic gas demand has been lackluster, rising oil prices helped push pump prices higher. The Midwest may see a bit of a price reprieve, as the large BP Whiting refinery in Indiana is back up and running after being down since February 1st."Gas prices are a lot like seasonal temperatures. They start to rise with the arrival of spring," said Andrew Gross, AAA spokesperson. "And the national average for gas is now higher than a year ago, which we have...

NORTHBROOK, Ill., March 21, 2024 – The Allstate Corporation disclosed that their "estimated catastrophe losses were below the $150 million reporting threshold for February 2024." The company also revealed that "Rate increases for Allstate brand auto insurance resulted in a premium impact of 0.1% for the month of February and 1.5% year-to-date," as well as stating that "Rate increases for Allstate brand homeowners insurance have resulted in a premium impact of 2.4% for the month of February and 2.7% year-to-date." Additionally, they mentioned that "Implemented rate increases...

The Insurance Information Institute (Triple-I) has announced that it will hold its 2024 Joint Industry Forum (JIF) in Miami, Florida, on Tuesday, Nov. 19, and Wednesday, Nov. 20. The event will focus on providing expert perspectives on the state of the insurance industry under the theme Solutions for a New Age of Risk.Triple-I's CEO, Sean Kevelighan, emphasized the importance of updating assumptions and priorities for risk and insurance professionals, stating, “Senior risk and insurance professionals need to continuously update their assumptions and priorities, and...

On March 19, 2024, Nationwide introduced a groundbreaking digital resource, the Pet HealthZone, powered by generative artificial intelligence (Gen AI), aimed at providing pet owners with valuable insights into their pets' health. Dr. Emily Tincher, Nationwide’s senior director of pet health, and Melanie Kolp, Nationwide’s senior vice president and chief technology officer of technology strategy, data and innovation, shed light on the functionality of this innovative platform.The Pet HealthZone leverages over 40 years of pet insurance data to offer pet owners personalized...

WASHINGTON, DC (March 18, 2024) – Even though many eclipse enthusiasts have had April 8, 2024 marked on their calendars for years, there are some people who are just now deciding they want to experience this natural phenomenon in person. If this is you, it’s not too late.According to AAA booking data, Dallas, Austin, and San Antonio are the most popular cities along the path of totality for the upcoming eclipse on April 8, 2024. Indianapolis, Cleveland, and Buffalo are also top eclipse-viewing destinations, with Dallas experiencing a significant increase in reservations...

In a celebration of excellence at the CIAA Basketball Tournament, the Lincoln University Lions and Fayetteville State Lady Broncos emerged victorious, claiming their championship titles in Baltimore. The tournament, steeped in tradition and history, goes beyond the court, fostering a sense of community and nostalgia among attendees.The Central Intercollegiate Athletic Association (CIAA), established in 1912 as America’s oldest historically Black athletic conference, showcases 14 annual championships, including the prestigious basketball tournament. Drawing in 190,000 fans...

ORLANDO, Fla. (Mar. 14, 2024) – AAA's latest survey reveals that a significant portion of U.S. drivers harbor apprehension towards fully self-driving vehicles, with 66% expressing fear and 25% feeling uncertain. This sentiment has remained consistent, indicating a persistent unease within the public despite advancements in autonomous technologies.The survey also highlights a contrasting trend, as interest in advanced driver assistance systems (ADAS) remains robust among consumers. AAA found that a majority of U.S. drivers are keen on features like Reverse Automatic...

WASHINGTON, D.C. (March 14, 2024)—The national average for a gallon of gas has been rising leisurely since last week, moving a mere two cents higher to $3.41. However, with the cost of oil crossing the $80 per barrel mark and gas demand popping with warmer temps and better weather, change may be coming to the pump. Another critical factor is the arrival of more expensive summer blend gas, which tends to increase pump prices by 10 to 15 cents."This is the time of year we normally see pump prices start to rise," said Andrew Gross, AAA spokesperson. "And while prices have...