Investors’ search for safety has made toothpaste stocks more expensive than tech
Wall Street is fleeing tech for toothpaste and shampoo. Even those stocks are getting expensive.
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LIC left with two serving MDs as Dinesh Pant joins Irdai as actuary member | Insurance News
As the Union government grants voluntary retirement of services (VRS) to Dinesh Pant, managing director (MD) of Life Insurance Corporation of India (LIC), the number of serving MDs in the company has fallen to two. The state-owned insurance giant has four MD posts, apart from the managing director and chief executive officer (MD &…
US stocks: US market regains ground as bond yields ease; healthcare stocks rally
Wall Street’s main indexes bounced back on Wednesday after a technology-led selloff in the previous session, as US government bond yields eased from multi-decade highs and investors digested a series of corporate updates, Reuters reported. Moderna shares more than doubled after a late-stage trial showed that its personalised mRNA cancer therapy, developed with Merck, lowered…
SEC delays crypto initiatives amid CLARITY Act wait
Key takeaway: The agency planned to hold an open meeting Friday to consider proposing new rules “to create a tailored offering regime for certain investment contracts involving crypto assets.” That meeting was canceled due to an “unforeseen scheduling issue.” Expert quote: “The SEC is committed to delivering on the president’s agenda to bring certainty to…
Agencies clarify banks may contact customers tied to SARs
Processing Content Key insight: Bank regulators said that banks can contact customers who are subject to suspicious activity reports without violating SAR confidentiality, provided they do not reveal that a SAR has been issued concerning their activity. Expert quote: “Although a reasonable and prudent person familiar with the SAR filing requirement may suspect or be…
Sen. Warren probes private equity’s bet on life insurers
Processing Content Key insight: Warren wants the trade group for state insurance commissions to explain how they are addressing risks to life insurance policyholders’ future payouts. What’s at stake: Los Angeles Dodgers owner Mark Walter and his firm, TWG Global, reportedly misclassified $21 billion in loans, hiding high concentrations of self-affiliated deals. Forward look: “Congress…
Who’s Behind a Proposed $66 Billion Wyoming AI Data Center?
Public filings tie the project to General Catalyst and an energy startup founded by former Palantir employees, but local officials are still searching for answers.
