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...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...Discover’s is the smallest after Visa, Mastercard and American Express....
...The $1.6tn fund’s chief executive told the FT it was “worrisome” that American companies were outpacing their European rivals on innovation and technology, leading to vast outperformance of US shares in...
...The US Federal Deposit Insurance Corporation is working on proposals aimed at ensuring asset managers do not seek too much influence over the banks in which they hold large stakes....
...The rule comes as President Joe Biden toughens his stance on fossil fuel producers in a bid to mobilise progressive voters in the run-up to this year’s presidential election....
...The latter two are considered “core services”, because rent costs can be sticky and Americans don’t necessarily pay increases in owners’ equivalent rent in real time....
...Over the next 16 years, he spearheaded a string of deals, buying brokerage EF Hutton, investment bank Lehman Brothers, insurance firm Fireman’s Fund and other businesses that turned the charge-card company...
...The flood maps that Fema uses to set premiums for its federally underwritten National Flood Insurance Program — which is how most Americans get flood insurance — are outdated....
...He said the best course of action for companies was to wait and see how the issue plays out in court....
...Auto-insurance businesses are still losing money. And a run of unusually destructive bad weather has brought additional losses for their property-insurance businesses....
...Last month, Wegovy received FDA approval to help reduce heart attack and stroke risk in patients with cardiovascular disease, enabling it to be covered by insurance for the more than 50mn Americans on Medicare...
...“The biggest barrier is insurance companies,” said Lawrence Honig, a neurologist at New York’s Columbia University Irving Medical Center....
...Other board members include Jeffrey Coors of the eponymous brewing company....
...Many customers are buying weight-loss drugs outside insurance schemes as obesity is not a widely covered condition in the US....
...In the US, it and fellow index fund providers BlackRock and State Street have come under scrutiny from the left and right for the influence they wield by holding large stakes in most American public companies...
...And despite the threat of tougher enforcement, the policies have never been cheaper, thanks to an increasing number of insurance companies entering the market....
...As part of the new proposals, the administration also intends to deny companies tax deductions on employees who are paid more than $1mn....
...Biden has also sought to crack down on anti-competitive conduct in business through the appointment of progressive officials in senior roles, including FTC chair Lina Khan....
...According to NewsGuard, this includes a network with titles such as the Pennsylvania Independent and the Michigan Independent, which it links to The American Independent, a national progressive site founded...
...Big private equity-cum-asset managers buy insurance companies (see also: Apollo/Athene, Brookfield/American Equity) not to cross-sell, but to gain a source of stable capital....
...The pledge comes three years after the insurance market apologised for its role in the trade, which included extending crucial insurance to voyages and even insuring slaves as cargo....
...One of the large palm-growing companies active in Indonesia, Socfin, has a holding company listed on the Luxembourg stock exchange....
...Barclays is relying on American consumers to help it achieve that aim and is targeting an $8bn increase in US credit card lending in the next three years....
...More and more Americans get their news from TikTok, and some say this gives it undue influence....
...“The UAE and Saudi Arabia are some of the most progressive markets in their mindset right now,” Biz2Credit’s Arora said....
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