State Farm Threatens to Abandon California If They Can’t Raise Prices: 52% For Renters, 30% For Homeowners

California’s largest insurer, State Farm, recently notified California’s Department of Insurance to allow them to hike home insurance rates for millions of residents, or they will drop coverage of many insured. The request comes amid the state’s ongoing insurance crisis as coverage costs increase. Several insurers, such as Allstate, Farmers Direct, and State Farm, have … Read more

Inflation in U.S. drops as consumer prices unexpectedly fell in June

U.S. consumer prices unexpectedly fell and the annual increase was the smallest in a year, reinforcing views that a trend of dropping inflation was back on track in the United States, and drawing the Federal Reserve another step closer to cutting interest rates. The consumer price index dipped 0.1 per cent last month after being unchanged in May, the U.S. Labour Department’s … Read more

The S&P 500 Returned an Average of 11% In the Second Half of Election Years with an Incumbent Running for Reelection

The S&P 500 index, created in 1957, is the top indicator of the overall health of the US stock market. The index tracks the performance of the largest 500 companies that cover 80% of US equities by market cap. The S&P 500 jumped over 18% year-to-date and may climb higher soon. During presidential election years … Read more

Britain’s largest water utility grapples with $19.7 billion debt pile

Engineers from a Thames Water leak hunting team unloads equipment from their van during a night shift in London, UK, on Wednesday, May 2, 2023. The chief executive of Britain’s biggest water supplier stepped down with immediate effect on Tuesday. Bloomberg | Bloomberg | Getty Images LONDON — British regulators on Thursday took the unprecedented … Read more

Delta Air Lines (DAL) earnings Q2 2024

Nurphoto | Nurphoto | Getty Images Delta Air Lines on Thursday forecast record revenue for the third quarter thanks to booming summer travel demand, but its forecast fell short of analysts’ estimates as carriers discounted fares after expanding flights. Shares of Delta fell about 8% in premarket trading. Other U.S. airlines were also trading lower. … Read more

Asia’s 50 Best Bars 2024: a curated bar crawl of the best guest bartender shifts in Hong Kong

For the second year in a row, Hong Kong will host the Asia’s 50 Best Bars awards ceremony. Industry players will toast the top 50 bars unveiled at the ceremony in Tsim Sha Tsui’s Rosewood hotel on July 16. Coinciding with the event, Hong Kong bars will have themed nights and host overseas bartenders flying … Read more

‘Holistic way to eat well, live well’ revealed at International Gastronomy Forum, Macao

It formed part of a larger event, titled “Celebration of the 25th Anniversary of the Establishment of the Macao SAR – International Cities of Gastronomy Fest, Macao”, held to mark a quarter of a century since the city reverted to Chinese administration. The celebration’s line-up of programmes, which spanned two weekends, included outdoor food fairs, … Read more

Commentary: Why India will become a superpower

SIZE MATTERS I addressed the topic of India’s economic future in lectures last week at the National Council of Applied Economic Research and the Consumer Unity and Trust Society in New Delhi. I illustrated the challenge of becoming a high-income country by comparing India with the poorest country ranked as “advanced” by the IMF, Greece. … Read more

Fed Chair Jerome Powell focused on soft landing, says inflation fight isn’t over

Federal Reserve Chair Jerome Powell said on Wednesday he was not yet ready to declare inflation had been beaten, but felt the US remained on a path back to stable prices and continued low unemployment. Powell and other Fed officials have said they will not cut interest rates until they have gained even greater confidence that inflation is … Read more