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First Citizens’ Equipment Finance Business Gets New Name
According to an announcement late February, First Citizens Bank & Trust Company is changing the name of its vendor equipment financing business to further elucidate its core mission. The division, which came along with First Citizens’ 2022 merger with CIT Group Inc., has been known as CIT Business Capital...
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Gold Prices End Lower in February
In a report by MarketWatch, if the financial markets are correct in their prediction that the Federal Reserve will continue its interest rate hikes into summer, then gold prices will proceed to decline. Prices were already at their lowest in the last week of February than they’ve been since January...
The Energy Transition Presents Opportunity for Investors, Bain Says
As the world shifts away from carbon-based fuels, private investors have increased opportunities to supply capital and help businesses speed up growth, according to Bain & Company. The investment landscape is rich, Bain said in its 2023 Global Private Equity Report, as regulators, consumers, and investors all expressed support in 2022 for the decarbonization of portfolios...
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Musk Holds Less Tesla Stock Than “Big Three” Passive Funds
The U.S.’s top three passive investing funds own more of Tesla than its creator, Elon Musk, according to the Financial Times. Vanguard, BlackRock, and State Street have a combined 13.58% stake in the electric vehicle manufacturer while Musk...
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Experts Offer Mixed Forecast for March Mortgage Rates
The Federal Reserve is expected to make smaller interest rate hikes in 2023, giving analysts the feeling that we’ve seen the peak of inflation. But according to The Mortgage Reports, the effects on mortgage rates is still uncertain, although experts think they’ll either moderate or rise...
India is Blackstone’s Leading Asian Market, Tempting Future Infrastructure
Blackstone Inc., which manages nearly a trillion dollars in assets globally, may be considering infrastructure investments in India, one of its best-performing markets, a top executive said at a news briefing, according to Reuters. It has a "government oriented towards growth," said Jonathan Gray, Blackstone's President and Chief Operating Officer...
Markets Should Be Optimistic, IMF Chief Says
The economic outlook for 2023 has improved, International Monetary Fund Managing Director Kristalina Georgieva said at the World Government Summit in Dubai in February. It is “less bad, not good,” she said, referring to a previous prediction of a slowdown and lingering inflation. Financial markets, she said, have reason to be optimistic...
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Soft Landing for US Economy is Looking Possible, Goldman Sachs Says
Business leaders are more optimistic than they were last year that a recession can be avoided, Goldman Sachs Chairman and Chief Executive Officer David Solomon told investors at a Credit Suisse conference in mid-February. Though inflation and US-China relations are causing strain, the chance for recession has lessened, Solomon said...
CVS Continues Shift into Comprehensive Care with $10.6 Billion Acquisition
CVS Health will acquire primary care clinic operator Oak Street Health for $10.6 billion. The purchase, which was announced by CVS in early February, comes five months after the company said it would buy home healthcare provider Signify Health for $8 billion...
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Argo Group to Go Private in $1.1 Billion Sale to Brookfield...
Brookfield Reinsurance announced it will acquire Argo Group International Holdings in an all-cash transaction valued at about $1.1 billion, taking the company private. Bermuda-based insurer Argo announced in April 2022 that it had begun searching for “strategic alternatives” after several years of losses and turmoil...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...