Jay Powell says Federal Reserve interest rate cuts in March are ‘not base case’

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jay Powell moved to cool speculation that the Federal Reserve would begin cutting interest rates as soon as March, saying that was not the “base case” as the central bank considers easing monetary policy this … Read more

Allstate Announces Fourth Quarter 2023 Catastrophe Losses, Prior Year Reserve Reestimates, and December and Fourth Quarter 2023 Implemented Rates

NORTHBROOK, Ill., January 18, 2024 – The Allstate Corporation (NYSE: ALL) today announced fourth quarter estimated catastrophe losses, prior year reserve reestimates and implemented rates. Allstate’s estimated catastrophe losses were below the $150 million reporting threshold for December 2023. Total catastrophe losses for the fourth quarter were $68 million, pre-tax. Unfavorable prior year reserve reestimates, excluding catastrophes, … Read more

Sydney auctions: final rush before Christmas, home sells $500k above reserve

Auction at of 11 Monash Gardens in Pagewood as auctioneer Alex Pattaro brings down the gavel on the sale. Picture: Julian Andrews Gifts aren’t the only thing Sydney siders are wrapping up before Christmas – with many sellers and buyers keen to land a good deal in the last big weekend of auctions for the … Read more