Brown & Brown, an insurance company with more than 450 locations around the world, will pay $9.83 billion in cash and stock for Accession Risk Management Group.
Tag: U.S. Economy
Post
SPECIAL REPORT: TRUMP’S TARIFFS, THE UPS AND DOWNS, FOR BETTER AND FOR WORSE
On 12 June, the U.S. dollar fell to its lowest value since March 2022. The buck lost ground after Donald Trump told reporters he will send letters shortly to trading partners assigning them tariff rates when the 90-day pause on the new “Liberation Day” rates runs out in early July.
Post
SPECIAL REPORT: ARTIFICIAL INTELLIGENCE EATS THE AD INDUSTRY
As Amazon, Meta, and other tech giants automate advertising using artificial intelligence (AI) tools, advertising agencies wonder if they have a future.
Post
TRUMP CALLS FED CHAIR POWELL “NUMSKULL”
Donald Trump again insulted Jerome Powell, chair of the U.S. Federal Reserve, calling him a “numskull” because the central bank has not lowered its key interest rate as Trump has been demanding.
Post
GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
Post
CITI RAISES LOAN LOSS RESERVE AMID POSITIVE ECONOMIC SIGNS
In the current quarter, Citi will raise its cash reserve against bad loans by “a few hundred million dollars…given the macro environment and [interest rates] compared to the last quarter,” Viswas Raghavan, the company’s executive vice-chair and head of banking, told a Morgan Stanley financial conference on 10 June.
Post
WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Job growth slowed for the second month in a row at private-sector firms according to employment estimates released by payroll company ADP. The company noted the private sector companies are hesitant to hire due to economic uncertainty.
Post
HOUSING MARKET FLIPS: SELLERS FAR OUTNUMBER BUYERS
In April, 500,000 more homes were listed than were sold, according to online brokerage Redfin. It was the biggest such gap since 2013.
Post
“BIG BEAUTIFUL” TAX BILL TRANSFERS WEALTH TO THE RICHEST, CBO SAYS
Donald Trump’s “big beautiful” tax bill now before the U.S. senate would hand $12,000 a year to the richest Americans, in part by taking $1,600 a year from the poorest, according to an analysis by the nonpartisan Congressional Budget Office (CBO).
Post
INFLATION TICKS UP IN MAY
Last month, the U.S. inflation rate edged up to 2.4 percent after marking 2.3 percent in April, the Bureau of Labor Statistics reported.