What insiders know 📶

Travel: By 2033, travel is set to become a $15.5 trillion industry and will account for more than 11.6% of the global economy, according to the World Travel & Tourism Council. Which represents a 50% increase from 2019.

Education: The US Department of Education have started forgiving student debt for more than 800,000 borrowers that enrolled in income-driven repayment plans and had made monthly payments for at least two decades.

Law: JPMorgan Chase & Co. is breaking away from a number of its peers and voluntarily complying with a new EU rule that requires fund managers to report their social and environmental impact.

Investing: According to the Institute for Energy Economics and Financial Analysis investors can’t rely on credit ratings to give them a fair assessment of the climate risk they’re exposed to, and should brace for “trouble” in the future.

Acquisition: Broadcom’s $61 billion takeover of VMware was cleared by the UK’s Competition and Markets Authority, making it one of the largest ever tech deals.

Random: A billionaire Charles Johnson former chairman of Franklin Resources and owner of the San Francisco Giants owner is suing a clam shack to stop it from opening a mere 18 inches away from his $6.5 million dollar cottage in Nantucket.

Moving: New York and California have in the past three years lost firms that managed close to $1 trillion of assets after the relocation of a portion of the American financial industry.

Crime: As large banks step up counterefforts, the cost of cybercrime is set to hit $8 trillion in 2023 and $10.5 trillion by 2025.

Interesting: In 2023 the US 10-year bond yields are at a 16-year high as the economy has investors positioning for interest rates to remain elevated.

Heat: 2023 insurance claims for weather related incidents are set to go beyond $100 billion for the third year in a row, as floods, hail and wildfires connected to climate change become more frequent.

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