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WASHINGTON—The Biden administration has sued to block the merger of two of the world’s largest insurance brokers, asserting the deal could eliminate competition, raise prices and hamper innovation for U.S. businesses, employers, and unions that use the companies’ services. The Justice Department on Wednesday announced the antitrust suit filed in federal court in Washington seeking…
Microsoft on Wednesday named Chief Executive Officer Satya Nadella as its new chairman, in place of John Thompson. Nadella, who took over as CEO in 2014 from Steve Ballmer, has been instrumental in scaling up its business including billion-dollar acquisitions like LinkedIn, Nuance Communications, and ZeniMax. The company said Thompson, who took over as chairman…
Ford’s outlook for the second quarter is improving, as the automaker is seeing strong customer reservations for four of its new vehicles. Ford Motor Co. now anticipates its quarterly adjusted earnings before interest and taxes to top its expectations and be significantly better than the year-ago period. Although there’s still uncertainty around semiconductor supply, Ford…
Always known as the market of innovation, E&S insurers are leveraging flexibility and creativity to help customers solve problems. The excess and surplus market continues to enjoy steady growth while conditions in the standard market remain challenging for insureds. With standard lines carriers raising rates, tightening terms and conditions and pulling back capacity, risk managers…
Always known as the market of innovation, E&S insurers are leveraging flexibility and creativity to help customers solve problems. The excess and surplus market continues to enjoy steady growth while conditions in the standard market remain challenging for insureds. With standard lines carriers raising rates, tightening terms and conditions and pulling back capacity, risk managers…
Websites of major U.S. airline companies American Airlines, Southwest Airlines, United Airlines and Delta Air Lines faced an outage early on Thursday, according to outage monitoring website Downdetector. More than a thousand user reports indicated problems at Southwest Airlines, with over 400 user reports indicating the same for Delta Air Lines, according to Downdetector. That…
The topic of litigation exposure that educational institutions may face over their handling of IEPs as the pandemic pushed so many into remote learning is building. Over the last 18 months, school districts across the U.S. have turned to online learning as a means to educate students. For some schools, remote learning has proven successful….
DETROIT—General Motors on Wednesday boosted its spending on electric and autonomous vehicles, pulled ahead plans for two U.S. battery plants and forecast stronger-than-expected second-quarter profits. The No. 1 U.S. automaker said it will now spend $35 billion through 2025 on electric vehicles, an increase of 75 percent from March 2020 before the COVID-19 pandemic shut…
Always known as the market of innovation, E&S insurers are leveraging flexibility and creativity to help customers solve problems. The excess and surplus market continues to enjoy steady growth while conditions in the standard market remain challenging for insureds. With standard lines carriers raising rates, tightening terms and conditions and pulling back capacity, risk managers…
