Amazon-backed Anthropic is expanding its AI model, Claude, by adding web search capabilities. This move is seen as a strategic advancement in the AI sector, with Amazon planning to enter the used-car market through online sales of pre-owned Hyundai vehicles. Analysts at Bank of America, including Michael McGovern and Justin Post, predict this will primarily impact online marketplaces like CarGurus, rather than Carvana, which operates a marketplace model and focuses on more than just used Hyundai vehicles. Piper Sandler analyst Alexander Potter also expressed bullish sentiment on Carvana, upgrading its rating and setting a higher price target, which has led to increased investor interest in the company.

BF&M Limited and Argus Group Holdings Limited have signed a definitive amalgamation agreement to combine and create a new Bermuda-headquartered multi-line insurer. The transaction is expected to be completed in the fourth quarter of 2024, subject to regulatory approvals and shareholder approval.