Latest Financial services News

Georgia Gov. Kemp wants to limit lawsuits. But would that keep insurance rates from rising?

Jan. 30, 2025 13:00 PM EST

ATLANTA (AP) — Georgia Gov. Brian Kemp on Thursday reiterated his simple pitch for lawsuit limits: They’ll halt rising insurance costs. The reality, though, is more complicated. Changes could reduce liability insurance costs for businesses and commercial property...

Fed hold rates steady, sees inflation as 'elevated,' as Powell declines comment on Trump

Jan. 29, 2025 18:26 PM EST

WASHINGTON (AP) — The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed and what policies President Donald Trump may pursue. ...

Selective Insurance: Q4 Earnings Snapshot

Jan. 29, 2025 18:05 PM EST

BRANCHVILLE, N.J. (AP) — BRANCHVILLE, N.J. (AP) — Selective Insurance Group Inc. (SIGI) on Wednesday reported fourth-quarter net income of $95.5 million. On a per-share basis, the Branchville, New Jersey-based company said it had net income of $1.52. Earnings, adjusted for...

Trump's Commerce Secretary nominee, Howard Lutnick, vows to sell his business interests in 90 days

Jan. 29, 2025 12:33 PM EST

WASHINGTON (AP) — Billionaire financier Howard Lutnick, President Donald Trump's choice to lead the Commerce Department, said Wednesday that he would sell all of his business holdings within 90 days. “I will divest, I will sell all of my interests, my business interests, all of...

Boston Properties: Q4 Earnings Snapshot

Jan. 28, 2025 17:03 PM EST

BOSTON (AP) — BOSTON (AP) — Boston Properties Inc. (BXP) on Tuesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations. The Boston-based real estate investment trust said it had funds from operations of $284 million, or...

Italian bank Mediobanca rejects takeover bid by domestic rival Monte dei Paschi

Jan. 28, 2025 15:05 PM EST

MILAN (AP) — Italian bank Mediobanca on Tuesday rejected a surprise takeover attempt by domestic rival Monte dei Paschi di Siena. Mediobanca said in a statement that the offer “is devoid of industrial and financial rationale.” Monte dei Paschi, Italy’s oldest...

California considers letting victims of natural disasters sue oil companies for damages

Jan. 27, 2025 19:55 PM EST

SACRAMENTO, Calif. (AP) — Oil and gas companies would be liable for damages caused by climate change -related disasters in California under legislation introduced Monday by two Democratic lawmakers. The proposal claims that the oil industry intentionally deceived the public about...

Alexandria Real Estate Equities: Q4 Earnings Snapshot

Jan. 27, 2025 17:13 PM EST

PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations. The real estate investment trust, based in Pasadena, California, said...

Stock market today: Wall Street edges back from its record

Jan. 24, 2025 16:22 PM EST

NEW YORK (AP) — U.S. stocks pulled back from their all-time high on Friday as they closed out a second straight winning week. The S&P 500 slipped 0.3% a day after setting a record. The Dow Jones Industrial Average dipped 140 points, or 0.3%, and the Nasdaq composite sank 0.5%. ...

Mississippi House passes pharmacy benefit manager transparency bill

Jan. 24, 2025 11:34 AM EST

A bill that aims to increase pharmacy benefit managers’ transparency by requiring them to report data to the agency that oversees pharmacy practice in Mississippi passed in the House of Representatives Thursday. But the Board of Pharmacy and some pharmacists say the legislation...