13 Stories You Need to See

A roundup of the week’s most newsworthy financial industry press releases from PR Newswire, including rising car insurance costs, inflation’s impact on retirement, and more.

NEW YORK, Jan. 13, 2023 /PRNewswire/ — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists covering the finance industry stay on top of the week’s most newsworthy and popular releases, here’s a roundup of stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

1.  Burnout Hitting Consumer Confidence, Finds KeyBank Survey
The survey polled more than 1,000 Americans on their financial, life and work-related priorities after a year of market volatility and uncertainty, revealing the steps they have taken to become more financially mobile.

2.  45 States Will See Car Insurance Costs Increase in 2023
The days of pandemic premium decreases and reimbursements are long gone as drivers have returned to the roads. Divya Sangameshwar, insurance expert at ValuePenguin.com, says, “After two years of keeping rates low for drivers, car insurance companies are raising rates in 2023 due to an increase in car repair costs and claims.”

3.  Deloitte Study: While Most Business Leaders Believe the Right Workplace Model is Key to Success, only 24{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} are Very Ready to Make Needed Changes
Over 10,000 survey respondents in 105 countries rank leadership among the top barriers in the majority of reported trends.

4.  Columbia Banking System and Umpqua Holdings Corporation Announce FDIC Approval and Expected Closing Timeline for Combination
Upon closing, the combined company will become one of the largest banks headquartered in the West, with over $50 billion in assets and offices in eight western states that serve customers in all 50 states.

5.  Nearly two-thirds of women are delaying their retirement due to inflation The Nationwide study found that 62{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of women are either expecting to retire later than originally planned or don’t believe they will ever be able to retire because of inflation, compared to 47{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of men.

6.  PNC Expands its Environmental Finance Pledge to $30 Billion
Focused on green buildings, renewable energy, and clean transportation, the commitment deepens the bank’s support of clients transitioning to a low-carbon economy.

7.  HTeaO Announces Growth Investment from Crux Capital and Trive Capital With this investment, HTeaO is well positioned to accelerate geographic expansion, continue attracting key talent, and employ innovative technology to improve quality of service while enhancing the customer experience.

8.  These Are the World’s Most (and Least) Powerful Passports in 2023 “Our latest research into how much global economic access each passport provides is a useful tool for investors and gives new insight into the ever-widening inequality and wealth disparity that defines our world,” says Chairman of Henley & Partners, Dr. Christian H. Kaelin.

9.  Las Vegas Sands to Pursue Multi-Billion-Dollar Downstate New York License at Nassau Veterans Memorial Coliseum Site on Long Island
The integrated resort components of a Long Island development would include outdoor community spaces, four and five-star hotel rooms and a world-class live performance venue honoring the long legacy of live music at the Nassau Coliseum.  The resort property would also feature celebrity chef restaurants, experiential events and venues and flexible meeting and convention space, including ballrooms.

10.  U.S. Rare Coin Market Continued to Soar in 2022
“Using data available to us, more than $560 million worth of U.S. rare coins were sold via public auction, marking the third consecutive year this aggregate total has increased. For the first time, 16 individual U.S. coins sold for greater than $1 million,” said Patrick Ian Perez, CDN Vice President.

11.  40Seas, a New Fintech Platform Designed to Modernize Cross-Border Trade Financing, Secures Funding of $111 Million from ZIM and Team8
By leveraging AI and data-driven technology, 40Seas is able to offer flexible payment options that are primed to disrupt legacy trade-financing solutions, and extend the accessibility of working capital for SME importers, exporters, freight forwarders and sourcing agencies.

12.  Easing Mortgage Rates and Home Prices Provide Slight Boost to Homebuyer Sentiment
“As we enter 2023, we expect affordability to remain the top challenge for potential homebuyers, as even small declines in rates and home prices – from the perspective of the buyer – may not produce sufficient purchasing power,” says Doug Duncan, Fannie Mae Senior Vice President and Chief Economist.

13.  Annual Survey Points Out How Much Americans Lose Due to Financial Illiteracy
Results indicated that over 38{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of survey respondents said financial illiteracy cost them more than $500 last year, while 23.02{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} reported losing over $2,500.

Read more of the latest finance-related releases from PR Newswire and stay caught up on the top press releases by following @PRNfinance on Twitter.

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