This Week in Finance News: 11 Stories You Need to See

A roundup of the most newsworthy financial press releases from PR Newswire this week, including ADP's acquisition of WorkForce Software, Elliott's new podcast and the RE/MAX September housing report.

NEW YORK, Oct. 18, 2024 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week's most newsworthy and popular releases, here's a recap of some major 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. ADP Acquires WorkForce Software
   
   "As the needs of today's global workforce continue to shift, employers need dynamic workforce management solutions that will help them maintain compliance and flexibility while engaging their employees," said Maria Black, president and CEO of ADP.
2. Financial Aftermath of Hurricanes Helene and Milton Leave Many Americans Struggling to Recover
   
   The average expense for basic hurricane supplies alone is estimated to be in the hundreds, but the true cost of these natural disasters is often far greater. Widespread power outages, gas shortages, and severe flooding have caused countless businesses to close, leading to a ripple effect of lost wages and financial hardship across multiple states.
3. Brex and Navan Partner to Launch Next-Generation Travel Management and Card Solution for Enterprises
   
   This integrated business travel and payments solution brings together Navan's world-class travel services and Brex's industry-leading global corporate cards. BrexPay for Navan streamlines travel payments into one workflow when using the Navan travel management system.
4. Elliott Launches "Stronger Southwest" Podcast Featuring 1:1 Conversations with Its World-Class Director Nominees
   
   The first episode features Nominee Gregg Saretsky, who has significant leadership and industry experience stemming from his nearly 40-year career in aviation. Mr. Saretsky discusses his early years in the industry as well as lessons learned from his time as CEO of WestJet.
5. GenAI in Insurance: 3 key takeaways from a global industry survey
   
   A new SAS study exploring the use of generative AI in insurance suggests that 9 in 10 insurers plan to invest in GenAI in the next year. The enthusiasm is palpable – but survey data also shows that the ethical and regulatory implications of innovation continue to vex many insurers, even as analytic ingenuity promises to help the sector address its biggest challenges.
6. Fannie Mae's 'Expanded Housing Choice' Initiative Extends to All Eligible Jurisdictions Nationwide, Includes New Enhancements
   
   "Many Housing Choice Voucher holders are from historically underserved communities, and bringing a program to the greater market that enables increased access to sustainable housing for renters while producing benefits for property owners is a prime example of Fannie Mae's innovation at work," said Michele Evans, Executive Vice President and Head of Multifamily, Fannie Mae.
7. Confidence Levels in Cash and Liquidity Management are Down 9.5% Since 2020
   
   Company leaders remain largely confident in their organizations' abilities to manage cash and liquidity, despite a 9.5% decline in sentiment from 2020 polling and a moderate year-over-year increase in labor market concerns. Business leaders are leaning into Generative AI as a potential solution to enhancing working capital.
8. RE/MAX National Housing Report for September 2024
   
   "While we're seeing a slight cooling in sales, it's encouraging to note that home inventory has been steadily increasing, giving buyers more options in the market," said RE/MAX, LLC President Amy Lessinger.
9. S&P Global: Emerging Markets Set to Drive Global Economic Growth in the Next Decade
   
   By 2035, emerging markets will play a crucial role in shaping the global economy, contributing about 65% of global economic growth. While supportive demographics, abundant natural resources, evolving trade dynamics and technological innovations in energy and manufacturing could propel their development, geopolitics, climate change and limits to frictionless trade and globalization could add complexities.
10. Openstream.ai Granted New Patent for Multimodal AI System that Eliminates Hallucinations
    
    This innovation enhances its AI platform, Eva (Enterprise Virtual Assistant), by using a unique combination of neuro-symbolic AI to prevent AI hallucinations—errors where AI generates false or misleading information. This ensures the AI operates based on known facts, providing clear and transparent responses without the risks associated with traditional AI models.
11. Kearney Consumer Institute Releases 4th Consumer Stress Index: Q3 Consumer stress levels are surprisingly stable, but concerns lurk below the surface
    
    The Q3 report finds that U.S. consumers have increasingly expressed concerns over their ability to lower their cost of living, a concern echoed by consumers in France. Despite inflation easing, consumers continue to feel stretched, borne out by several top retailers reducing prices and bundling discounts—a sign that consumer reactions to market changes are not immediate.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

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