Banking & Financial Services News on Business Daily

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.

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.