State Farm discontinuing 72,000 home policies in California in latest blow to state insurance market

SACRAMENTO, Calif. (AP) — State Farm will discontinue coverage for 72,000 houses and apartments in California starting this summer, the insurance giant said this week, nine months after announcing it would not issue new home policies in the state The Illinois-based company, California’s largest insurer, cited soaring costs, the increasing risk of catastrophes like wildfires … Read more

The ocean freight market is in standoff as peak contract season hits

March and April are critical months for ocean carriers looking to ink annual freight contracts with shippers, including the world’s biggest retailers, but this year contract season is turning into a waiting game. The $2,500 spread between spot market rates and long-term freight contract rates for Asia to U.S. West Coast containers has reached its … Read more

LACERA decreases venture capital allocation range, cites market conditions

Analysts say this is likely more of a one-off than a sign that LP interest in venture is waning. The Los Angeles County Employees Retirement Association (LACERA) voted to decrease its allocation range to venture capital at a March 13 meeting. The board of investments voted to decrease its allocation range to venture capital and … Read more

Freddie Mercury’s home is on the market for first time since 1980 minus his ‘exquisite clutter’

LONDON — LONDON (AP) — Freddie Mercury ’s sanctuary in London, where he lived the last decade of his life, is on sale for the first time in nearly half a century — minus his “exquisite clutter.” Garden Lodge, as the neo-Georgian brick home in the posh Kensington neighborhood is known, is for sale by … Read more

An overlooked corner of women’s health may be $350 billion market opportunity

Peathegee Inc | Tetra Images | Getty Images After years of being ignored, menopause has entered the public conversation. Celebrities from Drew Barrymore to Naomi Watts have opened up about symptoms and promoted products. Yet despite the increased chatter, there is a long way to go when it comes to treating symptoms — and a … Read more

Nio plans to launch its mass market EV brand in May

Nio holds a product event in Shanghai on Sept. 21, 2023. Evelyn Cheng | CNBC BEIJING — Chinese premium electric car company Nio said Thursday it plans to reveal its mass market brand in May. Executives confirmed the new brand will be named “Le Dao” in Chinese, and said the name is meant to reflect … Read more

El-Erian and Krugman can’t shake off their market fears

Traders work on the floor of the New York Stock Exchange during morning trading on February 29, 2024 in New York City.  Michael M. Santiago | Getty Images A new day, a new all-time high. From stocks to bitcoin, asset classes across the board have been hitting uncharted territories. Why? There are a few reasons … Read more

Novo Nordisk market cap surpasses Tesla on new obesity pill trial data

The logo of Danish pharmaceutical company is pictured at their headquarters in Bagsvaerd outside of Copenhagen, Denmark on February 1, 2017. Liselotte Sabroe | AFP | Getty Images Wegovy obesity drug maker Novo Nordisk surpassed Tesla in market value, after fresh early trial data showed positive results for its new experimental weight loss pill. Shares … Read more