By Niket Nishant(Reuters) - Insurance bellwether Travelers (NYSE:TRV)’ first-quarter profit exceeded analysts’ expectations on Wednesday, as strong underwriting gains helped soften the hit from over $2 billion of catastrophe losses driven by the Los Angeles wildfires.Shares rose 4%, extending a recovery after tariff-related market turmoil drove them to a three-month low last week.The results s ...
Investing.com -- The chief economist at Apollo Global Management (NYSE:APO) Inc. has warned that a potential US recession could significantly increase the country’s budget deficit, despite the potential savings from lower interest rates. Torsten Slok’s analysis suggests that a two percentage point drop in interest rates could lead to savings of around $500 billion in annual interest payments. ...
By Shivansh Tiwary(Reuters) -United Airlines shares rose on Wednesday after it said forward bookings were stable so far in the current quarter despite tariff-induced economic uncertainty. Shares of the carrier were up 3% and on track to recover some of their losses from what has been a tumultuous last few months for U.S. airlines. The shares have fallen 31% this year.Trump’s trade policies and s ...
By Deena Beasley(Reuters) -U.S. tariffs on pharmaceuticals could eventually mean higher prices for brand-name medicines, but in the near term the costs would likely be absorbed by drugmakers rather than patients whose payments are often set by health insurance.U.S. health insurers, which pay the bulk of prescription drug costs, act as a buffer between drugmakers and patients, with beneficiaries su ...