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☆ Timeline of Racial Wealth Gap
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +8 min

Policies and practices that have disadvantaged Black Americans generation after generation help explain the racial wealth gap. Black veterans find it much harder to obtain benefits; one study finds Black claimants were twice as likely to have their applications queried. 1877Southern states begin enacting “Jim Crow” laws, which formalize racial segregation. The laws restrict civil liberties and limit job opportunities for Black people as employers relegate Black workers to lower-skilled roles. 1896The U.S. Supreme Court rules in Plessy v Ferguson that racial segregation is permissible.

Persons: Black, vagrancy, Union General William Tecumseh Sherman, Andrew Johnson, Jim Crow, Ferguson, Henry Ford, Woodrow Wilson, Smith, Bankhead Organizations: Civil, Union, Bureau, American Medical Association, Prudential, Companies, Black, American Federation of Labor, U.S, Supreme, Plessy, U.S . Department of Agriculture, U.S . Constitution, National Association of Real, Owners Loan Corporation, U.S . Commission, Housing Administration, Federal Housing Administration Locations: U.S, Southern, Black, Louisville , Kentucky, U.S ., Tulsa , Oklahoma, Los Angeles, Chicago, Levittown, New York’s

[1/2] Taylor Swift attends the 2023 MTV Video Music Awards at the Prudential Center in Newark, New Jersey, U.S., September 12, 2023. Swift's appearance, in addition to fueling further rumors about her romance with the Chiefs' star tight end, is sure to deliver another marketing blessing to the NFL. Sunday's game was the second-highest selling game of the NFL season after the season opener, Stubhub said. The cheapest nosebleed seat tickets for Sunday's game in East Rutherford, New Jersey, were going for $81 on Sunday afternoon, while resale tickets at the lower level cost close to $9,000. When Swift showed up at the Chiefs' game on Sept. 24, viewership among women ages 18-49 - Swift's prime fan demographic - spike 63% week-over-week.

Persons: Taylor Swift, Andrew Kelly, Travis Kelce, Ryan Reynolds, Hugh Jackman, Blake Lively, Stubhub, Swift, Taylor, Gabriella Borter, Joseph Ax, Frank Pingue, Lisa Shumaker, Stephen Coates Organizations: Prudential Center, REUTERS, MetLife, Kansas City Chiefs, New York Jets, Chiefs, National Football, NBC, Hollywood, NFL, Jets, Kelce, Football, Thomson Locations: Newark , New Jersey, U.S, New Jersey, United States, Kansas City, New York, East Rutherford , New Jersey, Washington, Toronto

☆ Bank of England tells lenders to watch more closely for risky borrowers
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +2 min

A pedestrian walks past the Bank of England in the City of London, Britain, September 25, 2023. REUTERS/Hollie Adams Acquire Licensing Rights企業 Bank of England フォローLONDON, Sept 29 (Reuters) - The Bank of England wrote to lenders on Friday to urge them not to underestimate the risk of loan defaults as higher inflation and increased interest rates hit more vulnerable borrowers. However, in its letter to lenders, the BoE said they needed to look beyond aggregate risks and should identify whether particular types of borrower had specific vulnerabilities. Banks, for example, could look at spending patterns in their customers' current accounts and whether they had fixed-rate mortgages which would soon need to be refinanced at higher rates, the BoE suggested. It said for business lending, banks should not rely on a broad sector-based approach to risk and instead should in some cases consider specific companies' liquidity risks.

Persons: Hollie Adams, BoE, Victoria Saporta, Wilko, Banks, David Milliken, Kylie MacLellan 私 Organizations: Bank of England, City of, REUTERS, 企業 Bank of England, prudential, Wales Locations: City, City of London, Britain, England

☆ *NSYNC drop first new song together in 20 years
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +2 min

NSYNC members Justin Timberlake, Joey Fatone, Chris Kirkpatrick, Lance Bass and JC Chasez, attend the 2023 MTV Video Music Awards at the Prudential Center in Newark, New Jersey, U.S., September 12, 2023. REUTERS/Brendan Mcdermid/File Photo Acquire Licensing RightsLONDON, Sept 29 (Reuters) - *NSYNC, one of the most successful acts of the late 1990s, released their first new music together in 20 years on Friday, a song featuring in animated movie "Trolls Band Together". "Better Place" is the first new song Justin Timberlake, JC Chasez, Chris Kirkpatrick, Joey Fatone, and Lance Bass have worked on together since the U.S. boy band released their last studio album "Celebrity" in 2001. Timberlake, who voices character "Branch" in the "Trolls" film franchise, had shared a video of the quintet in the recording studio, working on the song. The band last performed together on stage in 2013 at the MTV Video Music Awards (VMAs).

Persons: Justin Timberlake, Joey Fatone, Chris Kirkpatrick, Lance Bass, JC Chasez, Brendan Mcdermid, Timberlake, Bass, we’ve, NSYNC, Taylor Swift, Marie, Louise Gumuchian, Alison Williams Organizations: Prudential Center, REUTERS, U.S ., MTV, Thomson Locations: Newark , New Jersey, U.S, Orlando , Florida

[1/2] Taylor Swift attends the 2023 MTV Video Music Awards at the Prudential Center in Newark, New Jersey, U.S., September 12, 2023. loading"Been so excited to tell you all that The Eras Tour concert film is now officially coming to theaters WORLDWIDE on Oct 13!" Previously, Swift had said the movie, called "Taylor Swift: The Eras Tour," would only be released in North America. Swift’s film is expected to collect between $96 million and $145 million at the domestic box office during its opening weekend, according to projections from Box Office Pro. On Nov. 1, 2022, Swift announced her Eras Tour— 53 shows played in stadiums across the United States.

Persons: Taylor Swift, Andrew Kelly, Swift, Walt Disney’s, Danielle Broadway, Lisa Richwine, Clare Trainor, Dea Bankova, Lisa Shumaker Organizations: Prudential Center, REUTERS, AMC Entertainment, Walt Disney’s Marvel, Star Wars, Thomson Locations: Newark , New Jersey, U.S, North America, Hollywood, United States

☆ Mum's the bad word: Most big Menendez donors won't say if they will keep backing New Jersey senator
▼ + stars: | 2023-09-26 | by ( Brian Schwartz | ) www.cnbc.com time to read: +5 min

Several top party donors have privately told Menendez's campaign that he should resign, according to a longtime past supporter who spoke with CNBC. The PAC so far has raised approximately $300,000 for Menendez's 2024 reelection campaign, according to its president, Dr. Ben Chouake. NorPAC has donated a combined $15,500 toward the Menendez campaign and separate leadership PAC since 2017, according to OpenSecrets data. Prudential Financial , the large insurer, has donated $35,000 through their PAC toward Menendez's political operation since 2017, according to OpenSecrets. A Prudential spokeswoman declined to comment when asked whether the company's PAC would continue to support Menendez following his indictment.

Persons: Robert Menendez, Nadine Menendez, Sen, Bob Menendez, Menendez, NorPAC, Jon Kaiden, Kaiden, Cory Booker of, Ben Chouake, Chouake, We've, Couake, Goldman Sachs, General Atomics, Greenberg Traurig Organizations: New, New Jersey Democrat, CNBC, Baleon Capital, Menendez, Fund, Senate Foreign Relations, Banking, Finance, Democratic, Senate, Menendez's, PAC, Pfizer, Prudential Financial, Prudential, company's PAC, FEC, Comcast, Merck, Holtec Locations: Jersey, Union City , New Jersey, U.S, New Jersey, Israel, Manhattan, Cory Booker of New Jersey, OpenSecrets, Jerusalem

☆ Shakira owes $7 mln in second Spanish tax fraud case, prosecutor says
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

Shakira attends the 2023 MTV Video Music Awards at the Prudential Center in Newark, New Jersey, U.S., September 12, 2023. In the new case, the prosecutor alleges that in 2018, Shakira failed to declare profits of $12.5 million from an advance payment for her El Dorado World Tour, among others. She is also accused of defrauding the state of 773,600 euros in wealth tax, resulting in a debt of 625,190 euros. Shakira's legal team said she had not received any notification of the new case in Miami, where she is now based. The singer turned down a deal with prosecutors in the 2012-14 case, saying she was confident that she had behaved correctly and transparently from the beginning.

Persons: Shakira, Andrew Kelly, Gerard Pique, Emma Pinedo, David Latona Organizations: Prudential Center, REUTERS, Rights, Colombian, Reuters, El Dorado, FC Barcelona soccer, Prosecutors, Thomson Locations: Newark , New Jersey, U.S, Rights MADRID, Barcelona, Spain, Miami

☆ Mexican singer Peso Pluma cancels concert after death threats
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

Peso Pluma performs during the 2023 MTV Video Music Awards at the Prudential Center in Newark, New Jersey, U.S., September 12, 2023. REUTERS/Brendan Mcdermid/File Photo Acquire Licensing RightsTIJUANA, Mexico, Sept 20 (Reuters) - The Mexican singer known as Peso Pluma has called off an October concert in Tijuana, a city on the border with the United States, after receiving death threats, his record label said on Wednesday. Peso Pluma's music spans reggaeton, trap and corridos tumbados - a genre that mixes the traditional Mexican corrido with urban genres and violent lyrics. Mexico's government reported 1,399 murders in Baja California state during the first eight months of this year, with Tijuana - where Peso Pluma was set to perform on Oct. 14 - representing the greatest share. Reporting by Lizbeth Diaz in Mexico City Additional reporting by Diego Oré in Mexico City Writing by Sarah Morland Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Pluma, Brendan Mcdermid, Hassan Kabande, Lizbeth Diaz, Diego Oré, Sarah Morland, Matthew Lewis Organizations: Prudential Center, REUTERS, Rights, Doble, Thomson Locations: Newark , New Jersey, U.S, Rights TIJUANA, Mexico, Mexican, Tijuana, United States, Baja California, Mexico City

☆ Bank of England deputy governor says impairments rising among UK lenders
▼ + stars: | 2023-09-19 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

In August, the Bank of England increased interest rates for the 14th time in a row. The British banking sector is seeing a rise in impairments amid rising inflation and ensuing interest rate hikes, according to Bank of England Deputy Governor Sam Woods. The economy has proven surprisingly resilient, but Woods, also CEO of the Prudential Regulation Authority, said regulators are closely monitoring potential stresses in the banking sector. "As we're looking at it now, we are actually seeing a pickup in impairments across the banking sector. "So it's going up but from a very low base, and we've got a close eye on it," he added.

Persons: Sam Woods, Woods, we've Organizations: Bank of England, Prudential, Authority, CNBC

☆ The shadow banking sector 'is a worry,' says PRA CEO
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe shadow banking sector 'is a worry,' says PRA CEOSam Woods, deputy governor of the Bank of England and CEO of the Prudential Regulation Authority, discusses the British banking sector.

Persons: Sam Woods Organizations: Bank of England, Prudential, Authority

☆ Guest view: Bank balance sheets hide climate risks
▼ + stars: | 2023-09-15 | by ( Natasha Landell-Mills | ) www.reuters.com time to read: +7 min

First, banks’ financial statements appear to be ignoring climate risks, which means financial institutions are probably also leaving those dangers out of their capital calculations. Second, a regulatory regime that understates the expected consequences of climate change is allowing the banks’ blind spot to persist. The few banks that refer to climate risks in their accounts tend to conclude that it is not material. Second, banks need to take a prudent view of climate risks in their financial statements. The sooner the banking sector internalises climate risks in its accounting, the better the chance of building a sustainable future.

Persons: Wells Fargo’s, Banks, Natasha Landell, Mills, Peter Thal Larsen, Oliver Taslic Organizations: Reuters, HSBC, HK, “ Management, prudential, The, Greening, Central, Institute, Faculty of Actuaries, University of Exeter, Institutional, Sarasin, Partners, Thomson

☆ S.Korea c.bank says coordinated efforts needed to deal with household debt
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

The logo of the Bank of Korea is seen in Seoul, South Korea, November 30, 2017. REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsSEOUL, Sept 14 (Reuters) - South Korea's central bank said on Thursday it needs to make coordinated efforts to contain household debt, which is at levels that could undermine economic growth and financial stability. "Unlike in major countries, household debt increased continuously without de-leveraging and has reached a level that hinders macroeconomic and financial stability," the Bank of Korea (BOK) said in its quarterly monetary policy report. South Korea's household borrowing grew for a fifth straight month in August by the biggest amount in two years, driven up by rising mortgage demand, prompting financial authorities to tighten certain loan regulations. The BOK said in the report it was more effective for macro-prudential policy to coordinate with monetary policy than for policy responses to be made in isolation.

Persons: Kim Hong, BOK, Jihoon Lee, Sam Holmes Organizations: Bank of, REUTERS, Rights, Bank of Korea, prudential, Thomson Locations: Bank of Korea, Seoul, South Korea, Rights SEOUL

☆ Music investor Hipgnosis to sell catalogues to bolster shares
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

Shakira performs during the 2023 MTV Video Music Awards at the Prudential Center in Newark, New Jersey, U.S., September 12, 2023. The sale includes a portfolio of 29 music catalogues and a collection of non-core songs to a partnership between its investment adviser and funds advised by U.S. private equity group Blackstone (BX.N), Hipgnosis said on Thursday. Founder Merck Mercuriadis is the CEO and founder of the investment adviser, Hipgnosis Song Management (HSM), and holds a minority interest in the buyer, Hipgnosis Songs Capital. Hipgnosis Songs Fund will retain ownership of seven of its ten largest catalogues, it added. Last week, Alchemy Copyrights agreed to buy music copyright-focussed investment firm Round Hill Music Royalty Fund (RHM.L) for about $468.8 million.

Persons: Shakira, Brendan Mcdermid, Nelly, Hipgnosis, Peppers, Neil Young, Blondie, Merck Mercuriadis, HSM, Aby Jose Koilparambil, Janane Venkatraman, Elaine Hardcastle Organizations: Prudential Center, REUTERS, U.S, Blackstone, Blackstone Inc, FTSE, Royalty, Thomson Locations: Newark , New Jersey, U.S, Bengaluru

☆ Taylor Swift racks up trophies at MTV's Video Music Awards
▼ + stars: | 2023-09-13 | by ( Lisa Richwine | ) www.reuters.com time to read: +3 min

Sept 12 (Reuters) - Pop superstar Taylor Swift dominated MTV's annual Video Music Awards on Tuesday, adding nine trophies to her collection as she claimed the top prize for her smash hit song "Anti-Hero". [1/6]Taylor Swift receives the Best Pop award during the 2023 MTV Video Music Awards at the Prudential Center in Newark, New Jersey, U.S., September 12, 2023. Stray Kids, a band put together through a reality show, won the best K-pop award, and SZA scored best R&B video for "Shirt". Colombian pop singer Shakira was honored with the Video Vanguard Award for her 20-year career. Later, she and fellow Colombian singer Karol G won best collaboration for "TQG".

Persons: Taylor Swift, Beyonce, Swift, NSYNC, Lance Bass, Justin Timberlake, it's, Brendan Mcdermid, Spice, SZA, Rema, Selena Gomez, Demi Lovato, Lil Wayne, Olivia Rodrigo, Nicki Minaj, Sean, Diddy, Combs, Minaj, Grandmaster Flash, Shakira, Karol G, Lisa Richwine, Shri Navaratnam Organizations: Swift, VMA, MTV, Prudential Center, REUTERS, Video, Thomson Locations: Newark , New Jersey, U.S, Colombian

☆ Taylor Swift wins top honor at MTV's Video Music Awards
▼ + stars: | 2023-09-13 | by ( Lisa Richwine | ) www.reuters.com time to read: +1 min

[1/6] Taylor Swift receives the Best Pop award during the 2023 MTV Video Music Awards at the Prudential Center in Newark, New Jersey, U.S., September 12, 2023. REUTERS/Brendan Mcdermid Acquire Licensing RightsSept 12 (Reuters) - Pop superstar Taylor Swift took home the top prize at MTV's Video Music Awards on Tuesday, winning video of the year for her hit "Anti-Hero". Stray Kids, a band put together through a reality show, won the best K-pop award, and SZA scored best R&B video for "Shirt". Colombian pop singer Shakira was honored with the Video Vanguard Award for lifetime achievement. After performing a bilingual medley of her hits including "Hips Don't Lie" and "Whenever, Wherever," the singer saluted her fans.

Persons: Taylor Swift, Brendan Mcdermid, Spice, SZA, Shakira, Lisa Richwine, Shri Navaratnam Organizations: Prudential Center, REUTERS, Video, Thomson Locations: Newark , New Jersey, U.S, Colombian

See below for some of the red carpet’s best looks so far. Johnny Nunez/Getty ImagesTinashe Gilbert Flores/Variety/Getty ImagesChloe Bailey Andrew Kelly/ReutersMåneskin mastered ensemble dressing in a selection of complementary outfits by Rick Owens. Jamie McCarthy/WireImage/Getty ImagesOlivia Rodrigo brought the sparkle in a low-cut bejeweled Ludovic de Saint Sernin silver gown made of 150,000 Swarovski crystals. Gilbert Flores/Variety/Getty ImagesColton Haynes Dimitrios Kambouris/Getty ImagesKarol G embraced the see-through trend in a sparkling sheer beige dress by French label Ashi Studio. Dia Dipasupil/FilmMagic/Getty ImagesOffset Evan Agostini/Invision/APDemi Lovato Jamie McCarthy/WireImage/Getty Images

Persons: ’, Mariah Carey’s risqué, Jared Leto, Emily Ratajkowski, Cardi, Dilara, Dipasupil, Selena Gomez Doug Peters, Shakira Noam Galai, Tiffany Haddish Gilbert Flores, Jared Leto Andrew Kelly, Doechii Jason Kempin, Billy Porter Kevin Mazur, Evan Agostini, Gilbert Flores, Anitta, Noam Galai, Bebe Rexha Angela Weiss, Stephen Sanchez, tote, Johnny Nunez, Tinashe Gilbert Flores, Chloe Bailey Andrew Kelly, Måneskin, Rick Owens, Angela Weiss, Ballerini, Jamie McCarthy, Olivia Rodrigo, Ludovic de Saint, Roger Vivier, Christopher Polk, Anthony Harvey, Megan Thee, Brandon Blackwood, Jacob &, Colton Haynes Dimitrios Kambouris, Karol G, Dia Dipasupil, Demi Lovato Jamie McCarthy Organizations: CNN, Prudential Center, Variety, Schiaparelli's, Couture, Getty, New York, Jewelry, Ashi, Dia Locations: Newark , New Jersey, Turkish, British, New

☆ Metro Bank shares dip as mortgage risk model change drags
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

Sept 12 (Reuters) - Britain's Metro Bank (MTRO.L) said on Tuesday that the Bank of England's Prudential Regulation Authority (PRA) would likely not approve its application to use internal credit risk models in its residential mortgages business this year. Shares in the lender fell 7% in early trading as stock-holders reacted to the news. Without permission to use its own risk models, Metro Bank remains subject to higher capital requirements set by the regulator, which have weighed on returns for its investors. "The board retains conviction in the merits of Metro Bank's customer-centric model and strongly believes that there is a significant opportunity set that the company can capitalise on, subject to renewed balance sheet strength," Metro said. "Larger scale is needed to absorb the high, branch-centric expense base which can be achieved only if current capital constraints ... are resolved," Peel Hunt said.

Persons: Peel Hunt, Radhika Anilkumar, Sinead Cruise, Savio D'Souza, Rashmi Aich, Iain Withers Organizations: Britain's Metro Bank, Bank of England's Prudential, Authority, Metro Bank, Metro, Peel, Thomson Locations: Bengaluru, London

☆ Social Security's trust funds are running dry. Here are 4 things to know
▼ + stars: | 2023-09-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

The vast majority of older Americans get Social Security benefits, which either partially or even fully fund their income in retirement. Social Security is 'America's pension safety net'Virtually every retiree receives some sort of guaranteed income stream — and Social Security is "by far" the most prominent of these income sources, Blanchett said. About 97% of Americans age 60 and older either receive or will collect Social Security benefits, according to Social Security Administration data. Workers would continue to pay Social Security payroll taxes, and those collected funds would still be payable to retirees. There will be 'losers'Congress will almost surely tweak Social Security to fix the solvency problem.

Persons: MoMo, David Blanchett, Blanchett, Doug Boneparth, Lorie Konish Organizations: CNBC's, Finance, Security, U.S, Social Security, Prudential Financial, CNBC, Social Security Administration, Insurance, Workers, Social, SSA Locations: PGIM, New York

☆ FTSE 100 falls on worries about U.S. rates; Melrose jumps
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies FTSE 100 down 0.4%, FTSE 250 off 0.3%Sept 7 (Reuters) - UK's FTSE 100 opened lower on Thursday after stronger-than-expected U.S. economic data rekindled concerns that interest rates would stay higher for longer, while aerospace supplier Melrose Industries rose on an upbeat profit outlook. The blue-chip FTSE 100 index (.FTSE) fell 0.4% in early trade, while the mid-cap FTSE 250 index (.FTMC) slipped 0.3%. Wall Street's main indexes tumbled on Wednesday after data showed the U.S. services sector unexpectedly gained steam in August, indicating sticky price pressures. GLOB/MKTSFurther weighing on the exporter-heavy FTSE 100, data showed China's exports and imports fell in August as the twin pressures of sagging overseas demand and weak consumer spending squeezed businesses in the world's second-largest economy.

Persons: Toby Melville, Smith, Siddarth, Subhranshu Sahu Organizations: London Stock Exchange, REUTERS, Melrose Industries, Prudential, Thomson Locations: Canary Wharf, London, Britain, U.S, Bengaluru

☆ McConnell’s frozen moment renews questions about America’s aged leaders
▼ + stars: | 2023-08-31 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Also in the Senate, California’s Dianne Feinstein, 90, has been ill and displayed apparent cognitive decline in public in recent months. But given that Biden, McConnell and Feinstein are public officials, voters are entitled to a high level of transparency. Biden, for instance, would be 86 by the time his second term ends, which represents his biggest vulnerability in the 2024 election. Remarkably, in an age where major questions divide on party lines, 69% of Democrats shared that view. Should Biden, if he wins a second term, experience a similar moment to McConnell, questions about the continuity of US leadership would reverberate around the world and offer openings for US adversaries.

Persons: Mitch, “, Joe Biden, Donald Trump, California’s Dianne Feinstein, Feinstein, –, Strom Thurmond, Robert Byrd of, Biden, McConnell, Jonathan Reiner, CNN’s Erica Hill, ”, Reiner, Trump, Karine Jean, Pierre, CNN’s Jake Tapper, Tapper, Jean, Nikki Haley, – Trump, Haley, Kamala Harris, Harris, ” Haley, Nancy Pelosi, Steny Hoyer, Ruth Bader Ginsburg, they’ve, Sen, Shelley Moore Capito, CNN’s Manu Raju, John Thune, McConnell “, Jim Banks, CNN’s Raju, Sprightly Iowa GOP Sen, Chuck Grassley, who’s Organizations: CNN, Kentucky Republican, Senate, George Washington University, United States Senate, Associated Press, White, White House, Former South Carolina Gov, GOP, Republicans, Biden, Fox News, Democratic, Supreme, Labor, West Virginia Republican, Republican, prudential, Indiana, Sprightly Iowa GOP, California Democrat, Capitol Locations: Kentucky, South Carolina, Robert Byrd of West Virginia, Rehoboth Beach , Delaware, Ukraine, Washington, Dakota, Sprightly Iowa, California, It’s

☆ Former Prudential boss leading contender for CEO role at St James's Place - Sky news
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

Aug 31 (Reuters) - Former interim CEO of insurer Prudential (PRU.L) is the leading contender to take the top job at British asset manager St James's Place (SJP.L), succeeding current chief Andrew Croft, Sky news reported on Thursday. Mark FitzPatrick, interim CEO at the Asia-focused insurer for a period last year, has emerged as the SJP board's preferred successor to company veteran Croft, according to the report. Sky news had in May reported Croft's plan to step down from the role he took over in 2018. St James's Place in July reported a fall in its half-year profit but attracted 3.4 billion pounds ($4.31 billion) of net inflows in what the company called a "challenging period" for UK investors. As of June 30, SJP held 157.5 billion pounds worth of funds under management.

Persons: St James's, Andrew Croft, Mark FitzPatrick, board's, Croft, SJP, Prerna Bedi, Shilpi Majumdar Organizations: Prudential, St, Sky, Thomson Locations: Asia, James's, Bengaluru

HONG KONG, Aug 31 (Reuters Breakingviews) - Prudential’s (PRU.L), new CEO has inherited an old problem. Wadhwani’s decision to lead the $35 billion company from Hong Kong underscores its focus. Its Hong Kong and London-listed stock trades at just over 13 times expected earnings for 2023, per Visible Alpha. Larger rival AIA, listed in Hong Kong, is valued at around 18 times. The group’s new business profit in the mainland slipped 16% to $171 million in the first half as Pru withdrew some products from the market.

Persons: Anil Wadhwani, Pru, Peter Thal Larsen, Thomas Shum Organizations: Reuters, AIA, HK, U.S ., Prudential, Investments, Thomson Locations: HONG KONG, U.S, Greater China, Hong Kong, London, China

"We are delighted to see ongoing momentum...we continue to feel good about our growth prospects in Hong Kong," he said. Besides disclosing earnings, Wadhwani announced a strategy that included "targeted investment in structural growth markets" across Asia and Africa. Prudential's annualised premium equivalent (APE) sales, a closely watched gauge of insurance sales, rose 37% to $3 billion on a stronger pickup in sales from Chinese mainland visitors to Hong Kong. Prudential said APE sales in Hong Kong rose more than four times in the first half, and business generated from Chinese mainland visitors enjoyed a "significant increase" following the opening of the border. Reporting by Sumeet Chatterjee in Hong Kong and Carolyn Cohn in London; Editing by Christopher Cushing and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Simon Dawson, Prudential's, Anil Wadhwani, Wadhwani, Sumeet Chatterjee, Carolyn Cohn, Christopher Cushing, Sharon Singleton Organizations: Prudential, REUTERS, Prudential PLC, Jefferies, China, Hong Kong, AIA, HK, Consumers, Thomson Locations: London, Britain, HONG KONG, Asia, Hong Kong, Hong, Africa, Hong Kong . Hong Kong, China

CNN —Senate Minority Leader Mitch McConnell appeared to freeze for about 30 seconds on Wednesday while speaking with reporters after a speech in Covington, Kentucky. “I’m sorry you all, we’re gonna need a minute,” the aide told reporters. Speaking to reporters after the incident, McConnell insisted he was “fine.”McConnell and his top deputy, Senate Republican Whip John Thune, spoke this afternoon after Wednesday’s incident. President Joe Biden also told reporters Wednesday afternoon that he plans to try to “get in touch” with McConnell. I don’t know enough to know,” Biden told reporters following remarks on the federal response to Hurricane Idalia and the wildfires in Maui.

Persons: Mitch McConnell, McConnell, “, ” McConnell, ”, Kentucky Republican “, John Thune, Ryan Wrasse, Joe Biden, “ Mitch, ” Biden, Hurricane Idalia Organizations: CNN, Capitol, Republican, Kentucky Republican, prudential Locations: Covington , Kentucky, Washington, Kentucky, Maui

☆ Mitch McConnell freezes again during a press conference, 1 month after he abruptly stopped speaking mid-sentence at the Capitol
▼ + stars: | 2023-08-30 | by ( Madison Hall | Taylor Berman | ) www.businessinsider.com time to read: +2 min

Mitch McConnell suddenly became disoriented while answering questions on Wednesday. The incident occurred just over a month after he abruptly stopped speaking at a press conference. "Leader McConnell felt momentarily lightheaded and paused during his press conference today," a McConnell spokesperson told CNN. AdvertisementAdvertisementLast month, McConnell abruptly and awkwardly stopped speaking during a press conference at the Capitol before being whisked away. He later told reporters that he was "fine" and an aide of his told Insider that the senator only stepped away because he "felt lightheaded."

Persons: Mitch McConnell, McConnell, Brent Griffiths Organizations: Service, Washington DC, McConnell, CNN, prudential, Capitol Locations: Wall, Silicon, Washington, Kentucky

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