Insured losses from natural catastrophes topped $100 billion for second year in a row, reinsurer says

Insured losses from natural catastrophes topped $100 billion for the second year in a row, reinsurer Swiss Re said on Wednesday. Swiss Re SREN, +0.95% said insurance covered $132 billion worth of the $284 billion in economic damage caused by catastrophes including Hurricane Ian, hailstorms in France and floods in Australia and South Africa. That’s … Read more

US stocks close higher as First Republic recoups some losses – Times of India

NEW YORK: US stocks ended the day higher Tuesday as regional banking stocks picked up, with the embattled First Republic Bank recouping some of its losses from earlier this week.The broad-based S&P 500 rose 1.3 percent to 4,002.87, while the Dow Jones Industrial Average ended 1.0 percent higher at 32,560.60.Meanwhile, the tech-heavy Nasdaq Composite Index … Read more

Swiss Brace For Major Job Losses After Credit Suisse Buyout

Geneva: Tens of thousands of jobs could disappear in Switzerland following UBS’s emergency takeover of its troubled rival Credit Suisse, observers warned Tuesday, as unions demanded a rescue package for banking staff. The news that Switzerland’s biggest bank will, under pressure from Swiss authorities, swallow up the second-largest has sent shockwaves through the wealthy Alpine … Read more

Onions to be irradiated with gamma rays to curb post-harvest losses

Onion production in 2022-23 (July-June) is estimated to be 31.8 million tonnes compared to 31.7 MT. (Hindustan Times)

“Post- harvest losses of onion in India are significant. Onion noticeably gets rotted and starts sprouting even in cold storage. To reduce post-harvest losses to 10-12% from prevailing 25%, we will send freshly procured onion to irradiation plants and then to cold storage,” one of the officials said. The perishable nature of onions, combined with … Read more

Amazon didn’t make money for a decade, but those losses weren’t even close to what startup companies and their investors face now.

The bankruptcy of Silicon Valley Bank SIVB, , the nation’s 16th largest bank, has rattled global markets. SVB used short-term deposits to finance investments in long-term bonds, stocks, and mortgages — a wager that interest rates wouldn’t rise. Once the Federal Reserve started raising interest rates aggressively to slow inflation about a year ago, the … Read more

Foot Locker stock reverses early losses as it unveils plan to expand sneaker line and relaunch core brand

Foot Locker Inc. stock reversed premarket losses early Monday, after the sporting goods retailer’s stronger-than-expected fourth quarter weighed against weaker-than-expected guidance for the current year. The stock FL, -1.03% was last up 1.5% ahead of Monday’s open, after earlier falling more than 3%. The New York-based company posted net income of $19 million, or 20 … Read more

Saudis, Qataris and Norway to see big losses on UBS deal for Credit Suisse

It wasn’t even six months ago that Saudi National Bank paid $1.5 billion for a 9.9% stake in Credit Suisse. That stake is now worth about $215 million after UBS UBS, -5.50% reportedly swooped in to acquire its fallen rival for more than $2 billion. See: UBS reportedly reaches deal to buy Credit Suisse for … Read more

Creamline picks perfect time to end string of losses to F2 Logistics

Michele Gumabao soared for the Cools Smashers in the fourth set. PVL PHOTO

Michele Gumabao soared for the Cools Smashers in the fourth set. PVL PHOTO Five-set meltdowns have been a feature in Creamline’s previous tussles with rival F2 Logistics in the Premier Volleyball League (PVL). The solution? Don’t wait for a deciding set. “[W]e’re happy to finally get one against F2,” Cool Smashers coach Sherwin Meneses said … Read more

Markets end higher in global rebound, but post weekly losses – Times of India

BENGALURU: Indian shares rose on Friday, tracking the rebound in global equities after authorities took a slew of measures to support the global banking system, whetting risk appetite.The Nifty 50 index closed 0.67% higher at 17,100.05, while the S&P BSE Sensex finished 0.62% higher at 57,989.90.However, both indexes posted losses of nearly 2% for the … Read more

First Republic Bank stock extends steep losses amid reports it’s considering a possible sale

First Republic Bank stock tumbled another 27% in premarket trade Thursday, amid reports it’s exploring its strategic options, including a potential sale of the company. The move came as other bank stocks regained their footing after heavy losses on Wednesday. Bloomberg reported late Wednesday that San Francisco-based First Republic based bank is seeking ways to … Read more