The collapse of Baltimore's Francis Scott Key Bridge is likely to lead to a multi-billion dollar insurance loss, the chairperson of Lloyd's of London said on Thursday. The massive Singapore-flagged container ship Dali sailing out of Baltimore Harbor bound for Sri Lanka reported losing power and the ability to maneuver before plowing into a support pylon of the bridge on Tuesday. The impact brought most of the bridge tumbling into the mouth of the Patapsco River, blocking shipping lanes and forcing the indefinite closure of the Port of Baltimore, one of the busiest on the U.S. Eastern Seaboard.
German retail sales unexpectedly fell in February, data showed on Thursday, quashing hopes that private consumption could help Europe's largest economy to recover in the first quarter. Food retail sales fell by 1.7% in real terms compared to January. Non-food business fell by 1.0%, while internet and mail order sales saw a month-on-month real sales decline of 2.8%.
Meridian Funds, managed by ArrowMark Partners, released its “Meridian Small Cap Growth Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. During the final months of the year, optimism prevailed due to news of reducing inflation and the potential for lower interest rates in 2024. The fund returned 13.64% (net) […]
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