Markets > Business

State Farm 2019 Net Income Drops 36.4% as Auto Business Sees $764 Million Underwriting Loss

1 month ago   |   By A.M. Best

State Farm annual net income fell 36.4% to $5.6 billion, hurt by lower premiums and higher losses in automobile.
The auto business reported a $764 million underwriting loss, compared with a $1.1 ...
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The coronavirus has already cost the ultra-wealthy more than $100 billion. Here's why they're likely to feel more pain from the market drops than the average American

The coronavirus has already cost the ultra-wealthy more than $100 billion. Here's why they're likely to feel more pain from the market drops than the average American

1 month ago   |   By Business Insider

Cases of the novel coronavirus may be concentrated in China , but the stock market losses are not.
Bernard Arnault , the chairman of Louis Vuitton parent LVMH, lost $8.8 billion from his personal net worth in the past week as reduced spending in China hurts luxury sales.
The world's 500 richest people lost $139 billion from their collective net worths on Monday in the largest single-day drop since the Bloomberg Billionaires Index started tracking that metric in October 2016.
The ultra-wealthy tend to be disproportionately affected by stock market routs because of their preference for...
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3 Simple Ways to Increase Store Sales without Increasing Labor

1 month ago   |   By Business 2 Community

Virtually all retailers are looking to trim expenses while increasing traffic and conversions, and their eyes often fall on the same area for cost-cutting: labor. When my retail customers ask me how to reduce labor costs, my answer is always the same: “Don't cut staff. Find ways to increase productivity and revenue with the people you have.” This approach is simple with the help of an advanced analytics solution, such as prescriptive analytics. Prescriptive analytics is a software solution that leverages AI and machine learning to analyze data and determine:
What is happening
Why it...
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Erie 4Q Net Income Drops 4.3% on Increased Underwriting, Technology Costs

1 month ago   |   By A.M. Best

Erie Indemnity Co. fourth-quarter net income dropped 4.3% as the company experienced increased costs in underwriting and policy processing, information technology and administration, the company ...
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IMF's chief raises emergency lending to $100 billion in response to coronavirus

IMF's chief raises emergency lending to $100 billion in response to coronavirus

The International Monetary Fund raised its emergency lending facilities, allowing it to meet an expected demand of $100 billion in financing. Emergency lending has already been... Read more ...

Hedge fund billionaire Paul Singer reportedly warned his employees of...

Hedge fund billionaire Paul Singer reportedly warned his employees of coronavirus more than a month before US officials started to prepare

Hedge fund billionaire Paul Singer warned of the coronavirus' effects long before many US officials. In a memo reported on by Bloomberg News , Singer told his staff on February... Read more ...

Lansdowne Partners' clean energy fund got slammed in March, but its...

Lansdowne Partners' clean energy fund got slammed in March, but its oil-focused fund is up for the year despite plummeting crude prices

London-based Lansdowne Partners had a high-flying clean-energy fund that beat the overall market in 2019, when stocks soared, but the fund was one of many hit hard by a tough... Read more ...

Oil climbs, stocks sputter as investors await U.S. unemployment figures

Oil climbs, stocks sputter as investors await U.S. unemployment figures

This is the web version of the Bull Sheet, Fortune's no-BS daily newsletter on the markets. Sign up to receive it in your inbox here . Good morning, Bull Sheeters. There's a... Read more ...

Why PR & Marketing Will Be Essential During the COVID-19 Recession

Why PR & Marketing Will Be Essential During the COVID-19 Recession

COVID-19 is delivering a body blow to PR and marketing agencies and departments. The near shut-down of the travel and conference industries, the stock market collapse, and... Read more ...

C.T. Fitzpatrick has ranked in the top 1% of value managers since the...

C.T. Fitzpatrick has ranked in the top 1% of value managers since the financial crisis. He shares his 4-part strategy for dominating a coronavirus-stricken market - and rattles off 6 companies that will benefit from the fallout

C.T. Fitzpatrick - founder, CEO, and chief investment officer at Vulcan Value Partners - approaches value investing differently than most by not exclusively focusing on cheap... Read more ...

The Fed estimated a 'more adverse' coronavirus outbreak would plunge the US...

The Fed estimated a 'more adverse' coronavirus outbreak would plunge the US into a year-long recession, meeting minutes reveal

The Federal Reserve's directors envisioned two economic scenarios of differing intensity as the coronavirus began driving business shutdowns and layoffs, Federal Open Market... Read more ...

Dell CEO Michael Dell is taking a temporary cut of his entire base pay amid...

Dell CEO Michael Dell is taking a temporary cut of his entire base pay amid the coronavirus 'disruption and uncertainty'

Dell CEO Michael Dell is taking a temporary cut in pay this fiscal year as the company deals with the uncertainty caused by the coronavirus crisis. In a Wednesday filing with... Read more ...

Stocks drop as eurozone fails to agree new coronavirus stimulus

Stocks drop as eurozone fails to agree new coronavirus stimulus

European stock markets traded lower on Wednesday after eurozone finance ministers failed to reach a deal on additional stimulus to weather the economic impact of the Covid-19... Read more ...

Jack Dorsey's $1 billion commitment to tackling the coronavirus outbreak has...

Jack Dorsey's $1 billion commitment to tackling the coronavirus outbreak has impressed fellow billionaires and tech execs

Millionaires, billionaires, and tech luminaries are applauding Twitter and Square CEO Jack Dorsey on Twitter for his $1 billion commitment to coronavirus relief, universal... Read more ...