Afternoon Coffee: Bunker Announces Partnership with Chubb, Amazon in Trump’s Crosshairs

AdobeStock/alekosa

Bunker, a business insurance marketplace, announced Thursday a minority investment by insurance carrier Chubb. In late 2017, Bunker and Chubb launched the first usage-based insurance product directed at independent contractors and microbusinesses. Prior to the Chubb investment, Bunker had raised $8 million in two rounds, including minority investments by carriers Hiscox and American Family.

Amazon Targeted

President Trump is interested in a “way to go after Amazon” with antitrust or competition law, the Wall Street Journal reports. The interest is apparently motivated by a desire to create a more level playing field for smaller businesses, although there are no specific policies being examined at the moment. Amazon shares declined as much as 7% after the reports Wednesday, ending down 4.4% at $1,431.42.

Nissan-Renault Talks

Nissan and Renault are in talks to merge, a response to the increasingly competitive and rapidly changing automotive industry, Bloomberg reports. The two companies are already in an alliance. Renault currently owns 43% of Nissan, while the Japanese carmaker has a 15% stake in its French counterpart.

Consumer Spending 

And finally, an economic update: U.S. consumer spending rose slightly in February, recording a 0.2% increase, according to CNBC. Inflation measures also cooled slightly, after a jump in January caused concern.

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.