Monthly Archives: <span>November 2024</span>

Facebook, Nvidia Ask US Supreme Court to Spare Them From Securities Fraud Suits

The U.S. Supreme Court is set to consider bids by two tech giants – Meta’s Facebook and Nvidia – to fend off federal securities fraud lawsuits in separate cases that could make it harder for private litigants to hold companies …

Survey Shows Most US Households Lack Full Insurance on Valuables

One-in-three American homeowners lack home or contents insurance coverage, a new survey shows. The survey included more than 3,000 Australians, Americans and Canadians, asking people which items in their homes were most valued financially or sentimentally, and whether those items …

JPMorgan Chase Settles Five Enforcement Cases, to Pay $151M

JPMorgan Chase will pay $151 million to settle five U.S. Securities and Exchange Commission enforcement cases, including accusations that the largest U.S. bank made misleading disclosures to brokerage customers, the regulator said. The settlements include $61 million of civil fines …

60,000 Wawa Tumblers Recalled Because Metal Straws Can Cut Customers

Some 60,000 Wawa-branded beverage tumblers are under recall due to a laceration hazard posed by the products’ metal straw. According to a Thursday notice published by the U.S. Consumer Product Safety Commission, the metal straw inside the now-recalled tumblers can …

Agency Closes Probe into 411,000 Ford Vehicles Due to Loss of Power

The National Highway Traffic Safety Administration said on Monday it has closed a probe into 411,000 Ford SUVs and pickup trucks over a potentially defective engine that could lose power without warning. In July 2022, the U.S. auto safety regulator …

Spain’s Deadly Storms Move North to Cause Chaos in Catalonia

Barcelona’s transport system ground to a halt, as Catalonia was the latest Spanish region to be hit by extreme storms that killed more than 200 people in neighboring Valencia last week. Flooded streets brought traffic to a standstill in the …

KBRA Says Florida Insurers Will Weather Helene and Milton; Cat Fund Can Handle Payouts

Florida’s Hurricane Catastrophe Fund, a state-created layer of reinsurance, expects to pay out about $4.6 billion to help cover insurers’ losses in Hurricanes Helene and Milton. But that won’t trigger a surcharge on premiums. And a number of Florida property …

Malibu Retrofit at $300,000 Shows Limits of Wildfire-Prepping

Evelin Weber and her neighbors fled their Malibu homes as the deadly Woolsey Fire tore across the California coast in 2018. Ever since, haunted by fears of another blaze, she’s spent $300,000 on fireproofing her house. Weber installed a fire …

PepsiCo Beats New York State’s ‘Predatory’ Lawsuit Over Plastics Pollution

PepsiCo won the dismissal of New York’s lawsuit accusing the beverage and snack-food company of polluting the environment with single-use plastic packaging, as the judge criticized the state’s attorney general, Letitia James, for bringing the case. Justice Emilio Colaiacovo of …

Lithium-Ion Batteries Finally Reaching Adolescence

Around five years ago, grid-scale lithium-ion batteries exploded onto the scene—some literally. First, insurers faced the same questions as grid operators: How do you define a battery? Is it power generation? Is it grid equipment? The answer had practical implications …