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Catastrophe Bondholders Sidestep Large Losses From Weather-Related Calamities

Last month, amid reports that Hurricane Beryl would become the earliest Category 5 hurricane in history, a group of money managers were busy trying to figure out whether their highly calibrated bets centered on natural catastrophes were about to take …

Hawaiian Residents Return Home After Crews Contain Wind-Swept Wildfire

Firefighters have contained a wind-swept wildfire that was threatening about 200 homes on the Hawaiian island of Kauai, authorities said late Monday night, and an evacuation notice for the area has been lifted. The fire burned 1.56 square miles of …

Buffett’s Berkshire Hathaway Sets, Closes at Record High

Berkshire Hathaway’s share price set a record high on Monday, reflecting investors’ confidence in Warren Buffett’s company, which is often regarded as a microcosm of the broader American economy. The price of Berkshire’s Class A shares closed up 2.1% at …

Amazon Must Comply With EEOC’s Pregnancy Bias Probe, Judge Rules

A New York federal judge has ordered Amazon.com to comply with a subpoena from a U.S. civil rights agency investigating claims that the online retailer discriminated against pregnant warehouse workers. U.S. District Judge Lorna Schofield in Manhattan late Thursday rejected …

TWIA Actuarial Committee Recommends 10% Rate Increase for 2025 Policies

The Texas Windstorm Insurance Association Actuarial & Underwriting Committee voted on Monday, July 15 to recommend that the TWIA Board of Directors approve a rate filing to increase rates by 10% for 2025 residential policies and by 10% for 2025 …

Michigan Health Care System to Pay $30K Over Racial Discrimination Suit

Beaumont Health (now Corewell Health), a health care system in southeast Michigan, will pay $30,000 and furnish other relief to settle a race discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According to …

Marathon Oil Reaches $241M Settlement for Air Quality Violations in North Dakota

The federal government announced a $241.5 million settlement with Marathon Oil last week for alleged air quality violations at the company’s oil and gas operations on the Fort Berthold Indian Reservation in North Dakota. The Environmental Protection Agency and Department …

CenterPoint Sued Over Hurricane Beryl Power Outages in Houston

A group of Houston restaurants that lost power for days after Hurricane Beryl sued the city’s main utility, accusing CenterPoint Energy Inc. of failing to adequately invest in infrastructure and respond to widespread power outages. The lawsuit, filed by various …

Crew of Capsized Oil Tanker Off Oman Still Missing, Maritime Center Says

The 16-strong crew of a Comoros-flagged oil tanker that capsized off Oman are still missing, the country’s maritime security center said on Tuesday, a day after the sinking was reported. The crew of “Prestige Falcon” comprised 13 Indian nationals and …

Families of Workers Killed in Idaho Hangar Collapse Sue Construction Company

The families of two construction workers killed when an airport hangar in Idaho collapsed are suing several companies that were involved in the building process, alleging the businesses recklessly cut corners and used inappropriate materials for the build. The private …

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