Hints and tips:
...Mayhem persists among the US’s property and casualty insurers. Auto-insurance businesses are still losing money....
...More recently, American companies have eyed Mexico as an alternative manufacturing location to China....
...“The Russians’ strategy is to show it is much more resilient to casualties than Ukraine,” said Oleksandr V Danylyuk, head of the Centre for Defence Reforms, a think-tank in Kyiv....
...In his most recent letter to shareholders, Buffett again extolled the virtues of insurance “float” or the premiums that policyholders pay to Berkshire insurance companies such as Geico....
...Until then, you can reach Sid and I at imani.moise@ft.com and sid.v@ft.com. Happy reading!...
...casualty....
...Alleghany, a property and casualty insurance and reinsurer, has long been described as a mini-Berkshire Hathaway....
...With his own work off limits in China and recently censored in Hong Kong, Ai is coruscating about western museums such as the Pompidou, Tate and the V&A that have been paid millions by state-owned companies...
...Let us know what fintech predictions you have for the rest of the year at imani.moise@ft.com and sid.v@ft.com....
...Mexico is waiving an upcoming shipment of Covid-19 vaccines from India, which is in the throes of a brutal coronavirus second wave, as “a way of expressing our solidarity”, President Andrés Manuel López...
...The other companies were not immediately available for comment....
...It is the fifth quarterly contraction in a row, dampening hopes of a speedy, V-shaped recovery....
...Roughly 25 per cent of the outstanding shares in Social Capital Hedosophia V, the fifth Spac set up by Palihapitiya and his partner Ian Osborne that will soon merge with fintech company SoFi, have been sold...
...Vladimir Putin said he would be vaccinated with the Sputnik V jab on Tuesday....
...According to real estate services and investment company CBRE, prime rents for apartments in Amsterdam fell by 3.3 per cent in the year leading up to the fourth quarter of 2020....
...Official data have a lag of about two weeks and relatives of some victims say not all were being registered as Covid-19 casualties....
...Mr López Obrador has lashed out at the Inter-American Development Bank (IDB), the Mexican Business Council of major companies and even the central bank after they stepped in with their own Covid-19 measures...
...The companies declined to comment....
...There are other clues that Compass does not see that elusive V-shaped recovery....
...The $760bn-in-assets conglomerate is skewed towards financial companies — it owns large insurance companies, such as Geico, outright and stakes in many of America’s largest banks — and industrials....
...Small-cap US companies suffered a brutal second quarter, losing an aggregate $1.1bn....
...Stanley Druckenmiller, a former hedge fund manager, said that “the excitement of reopening is allowing a lot of these companies that have been casualties of Covid to come back and come back in force”....
...US companies raised more than $2bn in debt on Monday....
...Speaking at the FT’s Global Boardroom event, he said: “I am not convinced that we are going to have a V-shaped recovery. I think it will be more like a U.”...
...This reflects the strong performance of large tech and healthcare companies of late that happen to dominate the benchmark....
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