Hints and tips:
...of Omaha said in his annual letter on Saturday that there were very few deals that offer the kind of transformative impact past takeovers have had, such as its purchases of insurers Geico and National Indemnity...
...GILLIAN TETT: There's a cynical view sometimes expressed on Wall Street which is that when a big company gives a top job to a woman, it's often because the company is in trouble....
...There were, he said, few deals that offered the kind of transformative impact past takeovers have had, such as its purchases of insurers Geico and National Indemnity or the BNSF railroad....
...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....
...The release follows a promise this month from Microsoft to provide indemnity coverage to any potential copyright claims arising from using its AI CoPilot services, which integrate generative AI into Word...
...In 1998, Citicorp’s John Reed, in promoting its merger with Sandy Weill’s Travelers Group, said it was Citi’s ability to sell a supermarket of financial products “on a local basis” that would make the deal...
...A group of players gathered for the Travelers Championship in Connecticut this week met PGA Tour leaders on Tuesday at the private golf course TPC River Highlands....
...The carved-out company sold $3.8bn of stock at a price of $22 per share, giving it an initial equity valuation of $41bn....
...J&J has agreed to indemnify the carved out business from any legal costs related to talc sales in the US and Canada, though Kenvue’s filing noted that it could not guarantee this indemnity would be sufficient...
...Moreover, it would be customary for the placement banks to have an indemnity from Adani in the remote event of an investor lawsuit on the prospectus disclosure....
...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...
...The vision for the 200-year-old bank that Fraser will lay out at the company’s March 2 investor day is more modest than the global financial supermarket imagined by Sandy Weill, who merged his Travelers...
...But Pfizer did insist on indemnity against civil claims and required the government to provide finance for an indemnity fund....
...So-called warranty and indemnity insurance (W & I) offers companies protection against losses stemming from inaccurate financial statements of businesses they acquire as unexpected tax liabilities....
...When Sandy Weill was building financial services group Travelers he made his top executives swear a “blood oath” that they would not sell any stock in the company until they left or retired....
...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...
...Berkshire Hathaway, through its subsidiary National Indemnity, holds a 5 per cent-plus stake in each of the five sogo shosha, or general trading houses, according to Japanese regulatory filings submitted...
...Alan Schnitzer, chief executive of Travelers, said his company was watching the situation across the country “closely” as some states “expanded the scope of workers comp by creating presumptions of compensability...
...Warranty and indemnity insurance is being used more frequently,” said Mary Duffy, global head of M&A insurance at AIG....
...This brought together investment banking (Salomon Brothers, which Travelers had bought a year earlier and where Mr Corbat had his start), wealth management (Smith Barney) and insurance (Travelers)....
...Travelers searching Airbnb for last-minute listings where no accommodations are available could also be directed to HotelTonight....
...Wednesday’s regulatory filing reveals that Berkshire also scooped up shares in tech giant Oracle and insurance company Travelers during the third quarter, while it sold out of US big box retailer Walmart...
...Weaker-than-expected second-quarter earnings sent shares in the $34bn-market-cap company down 3.2 per cent by late morning in New York....
...Ride-sharing is the “perfect first use case” for autonomous cars, Waymo chief John Krafcik said in a recent interview with Condé Nast Traveler....
...The Waffle House is where travelers meet each other. It provides refuge for the tipsy, the joyful, the insomniacs....
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