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Searing Heat in California and West Threatens to Break Temperature Records
A short-lived heat wave will send temperatures soaring across California and the U.S. West through the weekend, elevating power demand and raising the risk of health impacts. At least 26 daily records may be broken or tied across the West …... Read more
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Cotality: Over 33 Million Properties at Risk of Hurricanes, Creating ‘Liquidity Traps’
Cotality said it has identified more than 33.1 million residential properties from Texas to Maine with a combined reconstruction cost value of $11.7 trillion at least moderate risk of sustaining damage from hurricane-force winds. The property data provider, formerly known …... Read more
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AM Best Revises Outlook to Negative for Oklahoma Farm Bureau Mutual
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICRs of “bbb+”(Good) for the members of the Oklahoma …... Read more
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Victoria’s Secret Website Down as Lingerie Seller Addresses ‘Security Incident’
Victoria’s Secret has taken down its U.S. website and says some in-store services will be unavailable as it addresses an unspecified “security incident.” A message to customers remained in place of the popular lingerie brand’s normal shopping site Thursday, stating …... Read more
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New York Times Agrees to License Content to Amazon for AI Use
The New York Times Co. has reached a deal to license its editorial content to Amazon.com Inc. for use across its artificial intelligence platforms, marking the first such agreement the newspaper company has struck after years of battles between the …... Read more
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SC Governor Celebrates Dram Shop-Tort Reform Law But Some Want More
South Carolina’s governor has signed a liquor liability and tort-reform bill into law, but some lawmakers said broader changes to the state’s legal system are needed. Senate Majority Leader Shane Massey, who helped push through a compromise dram shop bill …... Read more
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Iranian Pleads Guilty in US to 2019 Baltimore Ransomware Attack
An Iranian national pleaded guilty to participating in the high-profile 2019 Baltimore, Maryland, ransomware attack, among others, and to causing tens of millions of dollars in losses and disrupted services, the Department of Justice said on Tuesday. Sina Gholinejad, 37, …... Read more
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Nurse Showed COVID Was Work-Contracted, West Virginia Supreme Court Rules
The West Virginia Supreme Court has ruled 3-2 that a prison nurse is entitled to workers’ compensation benefits for her COVID-19 disease because she provided sufficient evidence that she contracted it in her workplace and not outside of work. Brittany …... Read more
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US Court Blocks Most Trump Tariffs, Says President Exceeded His Authority
A U.S. trade court blocked most of President Donald Trump’s tariffs in a sweeping ruling on Wednesday that found the president overstepped his authority by imposing across-the-board duties on imports from U.S. trading partners. The Court of International Trade said …... Read more
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Markets/Coverages: MGA Rokstone Launches International Casualty Division
Rokstone, the London-based specialty re/insurance MGA that is part of the Aventum Group, announced the launch of its International Casualty Division. The move marks the latest milestone in Rokstone’s strategic build-out of its casualty portfolio, following the recent launch of …... Read more
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Sony Says Spin-Off Will Give Financial Arm Fundraising Capabilities
Sony’s CEO said on Thursday the spin-off of the group’s financial services arm will give that business its own fundraising capabilities. “It is significant that, through the spin-off, Sony (Financial Group) will secure its own fundraising capabilities while continuing to …... Read more
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Hiscox Appoints Clarke as Chairman Designate
Hiscox Ltd., the Bermuda-based specialist insurer, announces the appointment of Peter Clarke as chair designate, subject to regulatory approval. Clarke will join the board as chair designate on June 1, 2025 and will succeed Colin Keogh as chair with effect …... Read more
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UK Authorities Charge Director at Center of Fake Plane Parts Probe
The former director of a firm at the center of a global investigation into bogus airplane parts was charged with fraud by UK authorities. The Serious Fraud Office charged AOG Technics Ltd.’s director, Jose Alejandro Zamora Yrala, with fraudulent trading, …... Read more
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Tesla Targets June 12 Launch of Robotaxi Service in Austin
Tesla Inc. is poised to begin its long-awaited robotaxi service in Austin on June 12, according to a person familiar with the matter, a milestone in Elon Musk’s plan to reshape the company around driverless vehicles and artificial intelligence. The …... Read more
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Missouri Special Session to Include Discussion on Aid for Tornado Victims
Missouri lawmakers are to kick off a special session Monday to consider aid for tornado victims and a package of financial incentives aimed at keeping the Kansas City Chiefs and Royals from leaving the state for new or improved facilities …... Read more