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...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...Companies once valued at more than $1bn including Hopin and Convoy were among the casualties. “In some ways, dry powder is a mirage....
...BROOKE MASTER: The whole period in the 80s and 90s came at a time when lots of companies were combining in lots of different areas....
...The Money Supermarket The 1998 megamerger between banking giant Citicorp and insurer Travelers Group created the world’s biggest financial services company. The experiment hasn’t gone to plan....
...One of the casualties is Swedish property company SBB, which borrowed heavily during a local boom. Fitch downgraded the company to B- this week. Commercial real estate is in even worse shape....
...As well as Milrem, others such as America’s AeroVironment and Turkey’s Baykar, have caught the headlines after the success of their equipment on the Ukrainian battlefield....
...The company formed by the 1998 combination of John Reed’s Citicorp commercial bank and Sandy Weill’s Travelers — which engaged in everything from investment banking to subprime lending — has been accident-prone...
...“If you look at the recent history of banking in Latin America, the road is strewn with casualties of foreign banks who tried to be the global universal bank or the global consumer bank,” said Conor McEnroy...
...’s Chase and Bank of America....
...investments in Apple and Bank of America....
...Chesapeake Energy, the fracking pioneer that was the highest-profile casualty of the 2020 oil crash, is expanding in America’s shale patch again, less than a year after its emergence from bankruptcy....
...Russia yesterday acknowledged heavy casualties for the first time, disclosing 498 deaths and 1,597 injuries....
...At Bank of America, Citi, Goldman Sachs, JPMorgan and Wells Fargo profits have surged after last year’s slump, beating forecasts....
...Casualties in wind power Some wind power producers were among the financial casualties of the crisis....
...High profile casualties included Chesapeake and Whiting. Services providers were hit especially hard as operator cutbacks left them out of work....
...Or do you just think that some of these will essentially be casualties of a necessary shift? Yeah, this is a great question, and hear me loud and clear....
...JCPenney was among the biggest casualties of the pandemic in the US retail sector....
...Travelers was itself a collection of merged businesses, including its eponymous insurance arm, the Smith Barney brokerage and the Salomon Brothers investment bank, and Citigroup went on buy more companies...
...Its deserted lobby has a framed magazine article from a few years ago when it was on a list of America’s “Best Small Companies”....
...Coronanomics readables In my latest FT column, I argue that fiscal orthodoxy is an important casualty of the Covid-19 crisis. Another, more depressing, casualty is British artisanal cheesemaking....
...At Hertz, the car rental company then known for its pioneering computerised booking system, executives realised that transport companies would inevitably be among the first casualties....
...Citigroup, Bank of America and Deutsche Bank will be bringing staff back later in the summer....
...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....
...The Euro 2020 championships and Copa América, flagship national team tournaments in Europe and South America, due to be played in June have been postponed until next year....
...Mr Shields, the KBW analyst, says that historically a rise in the share of Democratic appointees to judges on the US appeals courts leads to an increase in the reserves of held by property and casualty insurers...
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