Author: Money Mechanics

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. May 15, 2026 Federal Reserve Board announces approval of application by the Stephen M. Calk 2025 Trust For release at 4:30 p.m. EDT The Federal Reserve Board on Friday announced its approval of the application by the Stephen M. Calk 2025 Trust, of Houston, Texas, to become a savings and loan holding company by acquiring National Bancorp Holdings, Inc., and thereby indirectly acquiring The Federal Savings Bank, both of Chicago, Illinois, as required…

Acceptance of insurance-linked securities (ILS) is now widespread in the reinsurance market, and as the asset class consistently proves itself as a stable partner and investor demand remains high amid attractive risk premium, Integral’s quantitative and transparent approach continues to gain traction.Artemis recently met with Richard Lowther, Co-Founder and Managing Partner and Kristofer Sannemalm, Head of Underwriting for Integral ILS, at their office in Bermuda, to discuss market trends and Integral’s approach as the manager’s assets under management sits at a healthy $3.5 billion as of January 2026. According to recent analysis from brokers, alternative capital now accounts for 15-20%…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. May 15, 2026 Federal Reserve Board announces it does not object to the conversion of United Texas Bank, of Dallas, Texas, from a bank supervised by the Federal Reserve to a national bank supervised by the Office of the Comptroller of the Currency For release at 4:30 p.m. EDT The Federal Reserve Board on Friday announced that it did not object to the conversion of United Texas Bank, of Dallas, Texas, from a…

After more than 100 years at its longtime Baltimore home, the Preakness Stakes is officially heading to a new racetrack for the first time in more than a century.The iconic Maryland horse race, which has been nicknamed “the second jewel of the Triple Crown,” will temporarily relocate from the Pimlico Race Course to Laurel Park for its 151st running on May 16, as massive redevelopment efforts continue at Pimlico. The move marks the first time since 1909 that the prestigious race will not be held at Pimlico, which has served as the event’s primary home for the past 115 years. It is not, however, the first time…

Investors can’t seem to get enough of RJ Scaringe or his ideas. In less than a decade, the serial entrepreneur best known for his EV company Rivian has raised more than $12.3 billion from venture capital firms, as well as from strategic and institutional investors for his three — and counting — startups. If the latest $400 million raise for his new venture Mind Robotics is an indicator, investors are still happily piling in. Outsized raises for newly minted startups have become more common in recent years. But those hundred-million-plus seed rounds have generally been reserved for buzzy defense tech…

(Oil & Gas 360) By Greg Barnett, MBA – If the first Gray Swan revealed itself beneath Iran’s tanks and the second hovered over the Strait of Hormuz, the third emerges where markets are most reluctant to linger: in the forward curve and the implications it quietly refuses to accept. This is not a forecast. It is a thought exercise grounded in how oil markets actually behave when confronted with observable, escalating risk. It asks a simple but uncomfortable question: if Iranian supply loss becomes real rather than theoretical, where must prices go to clear the system—and what would producers…

Klarna Group (NYSE:KLAR) reported a stronger-than-expected first quarter of 2026, with management pointing to accelerating payment volumes, rapid growth in its financing product and continued expansion of its merchant network as key drivers of the results. Co-founder and CEO Sebastian Siemiatkowski said the quarter came in “above the high end of every line,” citing revenue of $1.012 billion, up 44% from the prior-year period, transaction margin of $389 million, also up 44%, and adjusted operating profit of $68 million compared with $3 million a year earlier. Klarna also turned net income positive, reporting $1 million for the quarter. Chief Financial…

Former U.S. Attorney General Robert F. Kennedy’s daughter, Kathleen Kennedy Townsend, is offering up the chance to enjoy a taste of the political dynasty’s storied Cape Cod lifestyle by listing her Hyannis Port home for $1.59 million—after admitting that her own “dream” of recreating the family’s legendary summers in the seaside town failed.Kennedy Townsend, 74, who is the daughter of late politician Robert and his wife, Ethel, purchased the property in December 2023 for $1.28 million in a bid to pass down the tradition of spending the warm months surrounded by family in the storied town.But, she has now admitted,…

(Image credit:  Dan Brouillette/Bloomberg via Getty Images)CEO Greg Abel made a major housecleaning of Berkshire Hathaway’s (BRK.B) stock portfolio in the first quarter. The holding company, of which Warren Buffett remains chairman, initiated stakes in Delta Air Lines (DAL) and Macy’s (M), and added to some other key positions. The big news, however, was a mass exodus from more than a dozen holdings.Abel now oversees Berkshire’s equity portfolio, although Buffett keeps his hand in and plays a key advisory role. Investment manager Ted Weschler also continues to manage perhaps 5% of Berkshire’s stock investments.But the late-2025 departure of former co-portfolio…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. May 15, 2026 Federal Reserve Board names Jerome H. Powell as chair pro tempore; Powell will serve as chair pro tempore until Kevin M. Warsh is sworn in as the new chair For release at 5:00 p.m. EDT As Chair Jerome H. Powell’s term as chair concludes, and with the swearing in of Kevin M. Warsh as his successor pending, the Federal Reserve Board on Friday named Powell as chair pro tempore. This…