March 19, 2021

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Chubb Explores Acquisition of $22 Billion Rival Hartford: Bloomberg

Chubb Ltd., the global insurer led by Evan Greenberg, is exploring an acquisition of Hartford Financial Services Group Inc. in what could be one of the industry’s biggest deals in years, people familiar with the matter said.

The New York-listed insurer has made a preliminary takeover approach for Hartford, said the people, who asked not to be identified because the discussions are private. Deliberations are at an early stage and may not lead to a transaction, they said.

A representative for Hartford wasn’t able to immediately comment. A representative for Chubb couldn’t be immediately reached for comment.

Shares of Hartford

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Michigan cities weigh how to spend $4.4 billion windfall from federal stimulus law

In Port Huron, local officials are kicking around the idea of refunding all 2020 property taxes for every commercial, industrial and residential property in the city’s eight square miles.

Such a move would normally bankrupt the international border city of 29,000 residents at the mouth of Lake Huron.

But not after President Joe Biden signed a massive $1.9 trillion economic stimulus bill Thursday, a landmark government spending spree that promises a $19 million sliver for Port Huron.

“We could literally refund the 12 mills of the general property tax from last year and still have $10 million left over,” said

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House Extends Small-Business Rescue, With $93 Billion Still Left

Photographer: Andrew Harrer/Bloomberg

The U.S. House approved a two-month extension of a popular U.S. small-business rescue program that still has almost $93 billion left to distribute, giving companies until the end of May to apply for the forgivable loans.

The Paycheck Protection Program was initially set up a year ago as lockdowns stemming from the coronavirus paralyzed the American economy. Lawmakers expanded and extended it as the Covid-19 crisis continued.

The House voted 415-3 on a bill extending the PPP for two months from its current expiration date of March 31. The Senate is expected to also

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$40 billion of new stimulus money could go to bitcoin and stocks, Mizuho says | Currency News | Financial and Business News

A survey conducted by Mizuho found that $40 billion of COVID-19 relief bill funds sent to Americans could go to bitcoin and stocks.

Mizuho analysts, led by Dan Dolev, spoke with approximately 235 people with a household income of $150,000 or less in a survey released on Monday.

The team found that roughly 40% of respondents said they planned on using at least a portion of their stimulus money to invest in bitcoin or stocks.

Mizuho calculated that this means nearly $40 billion of the $380 billion in stimulus checks could go to the assets.

The survey

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American Airlines Secures $10 Billion Financing Package

The COVID-19 pandemic has dealt a huge blow to the U.S. airline industry over the past year. Fortunately, most U.S. airlines entered 2020 with solid balance sheets, thanks to strong industry profitability over the previous decade.

Among major airlines, American Airlines (NASDAQ:AAL) was an exception to this rule. The airline giant squandered billions of dollars on share buybacks in recent years, even as it spent heavily to upgrade its fleet. That put it in a weak position compared to peers like Delta Air Lines (NYSE:DAL). However, American just bought itself time by lining up $10 billion of new financing.

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McAfee Announces Sale of Enterprise Business to Symphony Technology Group for $4.0 Billion

SAN JOSE, Calif. & PALO ALTO, Calif.–(BUSINESS WIRE)–McAfee Corp. (Nasdaq: MCFE), the device-to-cloud cybersecurity company, today announced it has entered into a definitive agreement to sell its Enterprise business to a consortium led by Symphony Technology Group (STG) in an all-cash transaction for $4.0 billion. The transaction is expected to close by the end of 2021, subject to customary regulatory approvals and closing conditions.

McAfee’s Enterprise business has set the pace and standard within the cybersecurity industry for more than 30 years and has become a recognized leader for device-to-cloud cybersecurity solutions. Today, the Enterprise business is a

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