National News

Chinese Manufacturer Ninebot’s Dominance Has Startups Sharing Scooter Product Risks

Scooter-sharing company Lime recently relayed a troubling message to its users: a portion of its fleet was at risk of bursting into flames. The startup recalled about 2,000 vehicles, less than one percent of its scooters, following its Oct. 30 …

USA Gymnastics, Short on Funds to Pay Sex-Abuse Claims, Files for Bankruptcy

USA Gymnastics, under threat of being decertified by the U.S. Olympic Committee, filed for bankruptcy after running short of funds to pay victims of Larry Nassar’s sexual abuse. The organization filed for Chapter 11 status in the Southern District of …

A Cautious Uber to Try Self-Driving Vehicles on Roads Again

Uber Technologies Inc. is plotting the return of its self-driving cars, but the company known for its hard-charging style is taking a much more conservative approach as it tries to recover from a fatal accident that upended its autonomous vehicle …

Swiss Re Corporate Solutions Names Vetter Head of E&S North America

Swiss Re Corporate Solutions has appointed Daniel Vetter as head of Excess & Surplus North America, a newly-created role. Vetter will be responsible for the strategy and growth of the company’s E&S Property and Casualty business, as well as for …

Marriott CFO Says Too Early to Estimate Cyber Breach Costs

It’s too soon for Marriott International Inc. to estimate the cost of the massive cyber breach that the company disclosed last week, and other companies that have suffered big attacks are imperfect proxies, said Chief Financial Officer Leeny Oberg at …

How Insurance Broker A.J Gallagher Cleans Up on Clean Coal Subsidies: Reuters

Earlier this year, the chief financial officer of global insurance giant Arthur J. Gallagher & Co. explained to analysts how the company had turned a little-known U.S. energy subsidy into a profit machine, worth hundreds of millions of dollars to …

Waymo Self-Driving, Fare-Generating Taxis Hit the Road in Arizona

Alphabet’s Waymo on Wednesday launched a significant development in its costly, decade-long quest for autonomous transportation: self-driving taxis that actually generate fares. With little fanfare, the company has begun charging passengers to use its driverless vehicles in a roughly 100-mile …

Judge Questions Government’s Approval of CVS Acquisition of Aetna

QQA federal judge who has been asked to sign off on the U.S. government’s decision to approve CVS Health Corp.’s acquisition of insurer Aetna Inc. said Tuesday he was “less convinced” than the government that the companies had struck a …

Medtronic Ends U.S. Medical Device Probes with $51 Million Payment

Medtronic Plc said on Tuesday it would pay $50.9 million to resolve U.S. Justice Department probes into how companies it later acquired marketed medical devices, including one meant to treat a vascular defect in the brain. As part of the …

AIG Names Lyons as CFO, Succeeding Sankaran

American International Group (AIG) has appointed Mark D. Lyons to the role of executive vice president and chief financial officer (CFO), succeeding Sid Sankaran, who will remain at AIG in an advisory capacity through the year-end reporting process for fiscal …

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