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  • Florida OIR to Hold Hearing on Citizens Property Rate Increase Requests

    1 month ago - By A.M. Best

    Florida Citizens Property Insurance Corp. is seeking an overall statewide homeowners rate increase of 6.2% for new and renewing policies beginning Aug. 1.
    The state Office of Insurance Regulation ...
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  • The head of US markets and investment strategy at $2.1 trillion iShares lays out 5 reasons why stocks and bonds could thrive regardless of rising rates - and shares 3 areas of the market that have already started running higher

    The head of US markets and investment strategy at $2.1 trillion iShares lays out 5 reasons why stocks and bonds could thrive regardless of rising rates - and shares 3 areas of the market that have already started running higher

    1 month ago - By Business Insider

    Summary List Placement Last week, the stock market came under pressure as rising bond yields sparked a volatile end to February.
    However, US stocks came out strong on Monday, with all three major indexes bouncing back from last week's losses. On Monday morning, the Dow kicked off with a 2% spike, while the S&P 500 climbed around 1.9%. The Nasdaq enjoyed a 3% gain in response to the fall in bond yields and the passing of Biden's $1.9 trillion spending package .
    The 10-year yield briefly traded last week above 1.6%, its highest level since Feb. 2020. Still, "rates are moving for the right...
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  • Hertz eyes bankruptcy exit through $4.2 billion stake sale

    Hertz eyes bankruptcy exit through $4.2 billion stake sale

    1 month ago - By Stl Today

    In a deal to jettison itself from under bankruptcy protection, Hertz said Tuesday that it may sell a controlling stake in the company to two investment firms for $4.2 billion.
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  • Vestiaire Collective raises $216 million for its second-hand fashion platform

    1 month ago - By Tech Crunch

    Vestiaire Collective announced a new funding round. The company has raised $216 million, or €178 million - it has reached a valuation above $1 billion, making it a unicorn. French fashion and luxury group Kering is leading the round with Tiger Global Management. Kering now owns 5% of Vestiaire Collective.
    The startup operates an online marketplace where you can find pre-owned luxury and fashion items. And it's a complicated industry as you don't want to buy a damaged item or a cheap knockoff. The company controls and authenticate some items before they reach the buyer. If you opt for...
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  • Hertz eyes bankruptcy exit through $4.2 billion stake sale

    1 month ago - By Chron

    In a deal to jettison itself from under bankruptcy protection, Hertz said Tuesday that it may sell a controlling stake in the company to two investment firms for $4.2 billion.
    Knighthead Capital Management and Certares Opportunities will have the chance to buy the entire reorganized car rental company, but no less than a majority of its shares, Hertz Global Holdings Inc. said.
    Hertz was among the first major corporations to be felled by the pandemic last year as infections surged and shut down travel on a global scale for both companies and vacationers.
    Hertz filed for bankruptcy...
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  • Investment banker Ken Moelis is aiming to raise $1.2 billion from three new SPACs

    Investment banker Ken Moelis is aiming to raise $1.2 billion from three new SPACs

    1 month ago - By Business Insider

    Summary List Placement Billionaire investment banker Ken Moelis is planning to raise $1.2 billion from three new special purpose acquisition companies, or SPACs, according to a report Tuesday.
    Moelis & Co., the boutique investment bank founded by Moelis, is sponsoring the SPACs, according to a Bloomberg report.
    The largest of the blank-check firms, Atlas Crest Investment Corp. III, is aiming to raise $600 million in an initial public offering, said the report, citing filings with the Securities and Exchange Commission.
    Atlas Crest Investment Corp. IV is planning to raise $400 million, and...
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