Industry News
Hawaiian Electric reported a third-quarter loss after the utility removed a warning about its ability to remain in business, saying that a recent capital raise helped mitigate the concerns. The utility had raised going concern doubts after disclosing that it …
Via: Claims Journal
The floods that devastated the Spanish region of Valencia at the end of last month are expected to trigger total insurance losses in excess of €3.5 billion ($3.8 billion), Moody’s estimates. The projection is based on the first 72,000 insurance …
Via: Claims Journal
FTX filed a lawsuit against Binance Holdings Ltd. and its former Chief Executive Officer Changpeng Zhao, seeking to claw back almost $1.8 billion it alleges was fraudulently transferred by Sam Bankman-Fried. Binance, Zhao and other Binance executives received the funds …
Via: Claims Journal
A U.S. judge on Thursday dismissed some claims in a lawsuit accusing Rio Tinto and its former CEO Jean-Sebastien Jacques of defrauding investors by concealing problems developing the $5.3 billion Oyu Tolgoi copper and gold mine in Mongolia. U.S. District …
Via: Claims Journal
New research from Stanford University shows that hurricanes and tropical storms in the United States cause a surge of deaths for nearly 15 years after a storm hits. Researchers estimate an average U.S. tropical cyclone indirectly causes 7,000 to 11,000 …
Via: Claims Journal
As a deadly storm bore down on Valencia on Oct. 29, the regional president was attending a ceremony to recognize his work on sustainable tourism. Three hours earlier, Spain’s national climate agency had issued a red alert about the rains …
Via: Claims Journal
Billionaire hedge fund founder Louis Bacon’s $203 million defamation judgment against Finnish-Canadian fashion mogul Peter Nygard was thrown out because Nygard wasn’t properly served court papers while imprisoned for sexual assault. The Moore Capital founder won his case by default …
Via: Claims Journal
A federal appeals court on Thursday revived a defamation lawsuit accusing CNN of defaming Project Veritas in its explanation of why the conservative group, which is often accused of using deceptive tactics, was suspended from Twitter in 2021. The 11th …
Via: Claims Journal
Managing complex risks, nimble decision-making amid rapid technological advances and increasingly interconnected risks are top concerns, a recent AXA Future Risks Report outlined. The annual survey asks 3,000 experts from 50 countries and a representative sample of 20,000 individuals from …
Via: Claims Journal
There are major climate finance fights ahead at this year’s COP29 summit in Azerbaijan. The United Nations’ meeting kicking off next week brings with it a clear goal: Figuring out how to scale up finance to help developing countries embark …
Via: Claims Journal