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Economics

CME Group sets record with over 21 million contracts in US Treasury futures open interest

CME Group has announced a milestone with open interest in its highly liquid U.S. Treasury futures reaching a new peak of 21,428,757 contracts. These U.S. Treasury futures, benefiting from margin offsets against CME Group's existing Interest Rate products, adhere to the rules of CBOT and are listed accordingly. This significant achievement marks a major development in the financial markets.

Economics

Wells Fargo unveils expansion plans at Hudson Yards

Wells Fargo announced its intentions to enhance its office presence at Hudson Yards, aiming to foster a more collaborative and improved employee experience by acquiring additional space. The bank's plans will be carried out in collaboration with the developers of Hudson Yards and the Related Companies, with an expected completion within three years.

Economics

State Revenues Take a Hit in the Second Quarter of 2023

The Urban Institute says that State government tax revenue collections experienced a nominal decline of 12.8 percent and a real decline of 15.7 percent in the second quarter of 2023 compared to the same period the previous year. This downward trend is largely attributed to economic fluctuations and policy changes triggered by the COVID-19 pandemic.

Economics

Wells Fargo partners with team Rubicon to train Veterans to rebuild homes

Wells Fargo announced the Wells Fargo Foundation in providing a $750,000 grant to establish the Team Rubicon TRades Academy. The TRades Academy initiative aims to equip individuals with trade skills, such as contracting, electric, plumbing, and HVAC, for application in various communities, particularly in the aftermath of natural disasters, according to a press release by Wells Fargo.

Economics

New York U.S. Rep. Espaillat honors Flying Food Group for 'positive impact' in East Harlem

U.S. Rep. Adriano Espaillat (D-NY) has honored Flying Food Group for donating book bags and laptop computers to 500 students in East Harlem.

Economics

Coinbase develops foothold in Spain as expansion unfolds in Europe

Coinbase, a leading cryptocurrency exchange, has solidified its position in Spain by obtaining an Anti-Money Laundering (AML) registration from the Bank of Spain. The company announced this development at the European Blockchain Convention held in Barcelona. "Our foothold in Spain comes as part of a series of developments across Europe," said Coinbase.

Economics

Sky-high dreamer: The legacy of Flying Food Group founder Sue Gin

In 1983, Sue Gin, a real estate developer and bakery owner in Chicago, was on a Midway Airlines flight when the stewardess delivered an unsavory breakfast that was nothing more than a half-frozen sweet roll.

Economics

Wells Fargo expands LifeSync®

Wells Fargo & Company has announced that its personalized digital platform, LifeSync®, is now available to all consumer customers. Initially introduced to Wealth & Investment Management (WIM) clients earlier this year, LifeSync® can now be accessed through the Wells Fargo Mobile® app, according to a press release by Wells Fargo.

Economics

Visa forms the Advisory Council for the Visa Economic Empowerment Institute

Visa has announced the formation of the Advisory Council for the Visa Economic Empowerment Institute, a platform that will focus on conducting original research and facilitating public-private discussions on payments and public policy. According to a press release by Visa, the founding members of the council are Dr. Axel Weber, Lord Jonathan Hill, and Ambassador Koji Tsuruoka.

Economics

JPMorgan Chase Celebrates 90 Years of Service in Detroit and Commits $200 Million to Economic Recovery

JPMorgan Chase & Co. is marking its 90th anniversary of service in Detroit and the 10th anniversary of its commitment to support the city's economic recovery. The bank has pledged over $200 million to aid in the revitalization of Detroit, with a particular focus on skills training and job creation.

Economics

Consumer Questions Senator Marshall Support for Bill That Would Affect Credit Card Award Programs

A retired Andover, Kan. woman is questioning why U.S. Sen. Roger Marshall (R-KS) would “team up with Dick Durbin” to sponsor a measure that she said could threaten the cash-back incentives provided by her credit cards.

Economics

Flying Food Group offers employees better healthcare plan, but UNITE HERE! Local prohibits it, company says

The airline catering company Flying Food Group (FFG, recently developed a comprehensive healthcare plan with better benefits than those offered by UNITE HERE!, but the union has prohibited FFG from making the plan available to its employees, FFG Los Angeles Airline Facility (LAI) General Manager Lucy Osoro said.

Economics

JPMorgan Chase Commits $2 Million to Boost Support for Underserved Small Businesses in Detroit

JPMorgan Chase recently revealed a commitment of $2 million in philanthropic funding to nonprofit organizations focused on aiding underserved small businesses in Detroit.

Economics

Economic researcher: 'We should've seen about a $100 increase in rents over the past two years. Instead, we saw a $300 increase'

Housing costs now account for a third of the average American's budget as inflation continues to impact the economy, according to a MarketWatch article published on Feb. 17.

Economics

'We look forward to [Amazon] announcing an opening date some time next year': Amazon Fayetteville fulfillment facility to open on specified date in 2023

The Amazon Fayetteville fulfillment facility is still scheduled to be officially opened in 2023, but it remains unclear when specifically the facility will actually be open.

Economics

Survey: Risk managers seek more 'thriving' roles in ESG initiatives

A new survey from the WTW 2022 Environmental, Social and Governance (ESG) Global Risk Managers Survey conducted by Willis Towers Watson (WTW) has found that risk managers, nearly 75%, are seeking a greater role in their organization's ESG initiatives.


Economics

Learn which type of captives are best to help companies thrive

When searching for a potential captive insurance company to work with, it's important to know which kind of captive would most benefit the company.

Economics

How would a captive insurance company benefit you and your business?

When it comes to determining how much of a return on an investment into the establishment and managing of a captive to expect, analyzing the benefits that a captive could bring to your company is crucial.

Economics

When should you consider starting a health insurance captive?

When deciding whether to start a health insurance captive, it's important that you're aware of which kinds of coverage are available.