February 13, 2021

Day: February 13, 2021

Big money ditches New York, moves family to Palm Beach

High-end investment managers are getting a legal separation from New York. Palm Beach is getting the kids.

When Covid-closed offices, restaurants and public venues are able to open for ‘’normal” business it will be clear that the centre of gravity of the hedge fund, private equity and family office world will have shifted to Florida. Specifically to Palm Beach (known locally as the ‘island’) and West Palm Beach. “The move by the industry had already started,” says one Palm Beach investor. “Covid and the confinement has just compressed five years into one.”

The accelerated departure from New York is not

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U.S. economy added just 49,000 jobs in January, signaling ongoing fragility of labor market

The economy added a meager 49,000 jobs in January and the unemployment rate fell to 6.3 percent as the size of the labor force shrank, signaling the ongoing fragility of the recovery. Economists had expected 50,000 jobs to be added and the jobless rate to remain unchanged.

January’s report, the first monthly release under President Joe Biden, is an improvement from December, which saw a reversal of 227,000 jobs. However, it does not even capture the millions of people economists estimate have dropped out of the labor force and are no longer looking for work. Nearly 18 million Americans continue

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How this solopreneur turned her side hustle into a 7-figure business

  • Tasha Booth started a side hustle as a virtual assistant and now she’s the CEO of her own company. 
  • According to Booth, all solopreneurs hit a make or break point before successfully moving to a CEO role.
  • She shares how to get over the hump and into the next phase of growth.
  • Visit Insider’s homepage for more stories.

If you’re sitting at your desk at a perfectly respectable job with a perfectly nice boss but are still daydreaming of striking out on your own, Tasha Booth understands. 

Just three years ago she was a burnt out former theater performer with

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Florida regulator approves nearly 100 insurance rate increases

Many of the approved rate applications were double digit increases – increases that several industry experts have warned about since last year.

Read more: Home insurance rates in Florida to significantly increase next year

“Florida’s insurance market is one of the most complex in the world,” Office of Insurance Regulation spokesperson Karen Roach told News 6 WKMG in an email statement.

“The property market is facing significant challenges, as the frequency of claims increases and those claims become more expensive.”

Roach also explained that those challenges are mainly due to factors such as increased litigation, higher catastrophe claim losses following

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CT Housing Finance Authority offering 2.5% interest rate, a record low in its history

(WTNH) — During these times, we’ll take any good news we can get. So, if you’re considering buying a home for the first time, there’s probably no time like right now.

The Connecticut Housing Finance Authority is offering an interest rate of 2.5 percent.

“CFHA helps first time home buyers achieve the dream of homeownership,” said CEO Nandani Natarajan. “The rate we’re offering today, 2.50% is the lowest rate that CFHA has ever offered in its 51-year history.”

The mission is to help and low to moderate income home owners. You might be asking yourself, “How did we get here?”

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Top finance stories from week of Feb 8: Dealmakers, Bumble

Hi readers!

Welcome to the long weekend and to Insider Finance. Here’s a rundown of the must-know stories from the past week:

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The Rainmakers: Here are the top 20 dealmakers who put together the biggest mergers and acquisitions of 2020

rainmakers list 2x1

Citigroup; JPMorgan; Morgan Stanley; Qatalyst Partners; Skye Gould/Insider

While M&A had a down year during the pandemic, bankers still orchestrated a number of megadeals.

Insider partnered with the financial-data platform MergerLinks to identify 2020’s top 20

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