Banking & Financial Services News on Business Daily

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.

BlockApps has announced data and trends on the Fractionalized Whiskey investment model, which utilizes blockchain technology for fractional ownership. The update highlights how this new model leverages tokenization to enhance accessibility.

Global investment firm Carlyle (NASDAQ: CG) announced the appointment of Anuj Poddar to the newly created role of Co-Head of Global Portfolio Solutions (GPS) for Asia, focusing on India and Southeast Asia. The announcement was made on September 9, 2024.

Residents from Texas to the Florida Panhandle should prepare for the potential impacts of Tropical Storm Francine, which is forecast to make landfall along the Northern Gulf Coast on Wednesday, Sept. 11, as a hurricane, according to the Insurance Information Institute (Triple-I).

After idling over the Labor Day weekend, the national average for a gallon of gas resumed its pace of daily declines by falling six cents since last week to $3.30. Key contributors are low gas demand and the plunging cost of oil, which is struggling to stay above $70 a barrel. The national average cost for L2 commercial electricity remained the same for EV drivers.

ORLANDO, FL. (Sept. 5, 2024) – This year’s Your Driving Cost (YDC) study reveals that the total cost to own and operate a new vehicle is $12,297 or $1,024.71 monthly, an increase of $115 from 2023. The leading cost culprits for buyers are depreciation and finance charges. With automakers adding more vehicle choices with major redesigns, AAA advises buyers to consider various factors associated with owning and operating a new vehicle to fully understand ownership costs.

Artificial Intelligence (AI) promises to revolutionize how property and casualty (P&C) business gets done. As a result, P&C insurers are uniquely positioned to advance the conversation for ethical AI – not just for their own businesses, but for all businesses. How they might help establish cross-industry regulatory and technology best practices is the topic of a new report for insurers, "Pioneering Ethical AI: The Crucial Role of Property and Casualty Insurers," by the Insurance Information Institute (Triple-I), an affiliate of The Institutes, and data and AI leader SAS.

The AAA Foundation for Traffic Safety has released its 2023 American Driving Survey, offering insights into U.S. daily driving trends post-COVID-19 pandemic. The survey indicates that overall driving patterns have largely returned to pre-pandemic levels.

E*TRADE from Morgan Stanley today released 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.

Pump prices continue to fall, though the decline has slowed, with a reduction of just two cents to $3.36 over the past week. The slight increase in gas demand may be attributed to end-of-summer travel. Additionally, a developing storm system in the Atlantic could impact gas prices.

Two properties have been newly awarded the prestigious AAA Five Diamond designation. Montage Healdsburg in Healdsburg, California, and Cocina de Autor in Cabo San Lucas, Mexico, have earned the highest distinction from the AAA Diamond Program for their luxurious surroundings, unparalleled service, and high-end cuisine. Additionally, this month saw 10 hotels and two restaurants join the AAA Four Diamonds list. Four Diamond properties are recognized for offering upscale amenities and distinctive fine dining.

The national average for a gallon of gas has dropped by six cents to $3.38, a price point last seen on March 6. In contrast, the national average for Level 2 (L2) commercial electricity has remained steady over the past month.

Advance Auto Parts Announces Sale of Worldpac to Carlyle for $1.5 Billion

Amica Mutual Insurance Company Joins Triple-I as Its Latest Member

Global investment firm Carlyle (NASDAQ: CG) has announced an agreement to invest in SEIDOR, a leading technology services and solutions consultancy. The financial terms of the transaction were not disclosed.