SpaceX’s massive valuation may soon become its own worst enemy
The biggest companies struggle to keep up with the stock market due to size alone.
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AbbVie would gain an experimental eczema drug by buying biotech: report
AbbVie is reportedly trying to buy a biotech company that is developing a promising atopic dermatitis drug for $10.9 billion in cash, according to a Financial Times report.
The initial SpaceX frenzy is cooling off — but a new wave of cash is waiting to strike
SpaceX is expected to secure index entry in the coming days and weeks, unlocking a new source of investor demand after there’s been “striking” breadth so far.
Massive bonuses for South Korea's chip workers puts central bank on inflation alert
Workers from tech industries receive bonus worth millions of won, prompting the Bank of Korea to warn of the upward pressure to inflation.
SNAP restrictions could change what shoppers buy — and food giants are watching
SNAP food restrictions are spreading to more states, pressuring major food and beverage as consumers shift spending away from soda, candy and processed foods.
Bitcoin's future as revolutionary as the smartphone, according to CoinDesk
CoinDesk’s president of indices and data has a message for investors: Don’t count out bitcoin.
The budget airline model in the U.S. is running out of runway
Spirit's bankruptcy as United and Delta fly high suggests there's more to success in airline industry than low fares, and failure isn't about jet fuel spikes.
AI buildout gives tech investors new reasons to watch bond market
Tech giants are depleting cash reserves and raising debt in their ambitious data center buildouts, a dynamic that's forcing investors to watch interest rates.
Iran reportedly closes Strait of Hormuz again, casting shadow over nuclear talks
Iran's joint military command said the closure was in response to continued Israeli military operations in Lebanon.
Want faster election results? California Democrats won’t clamp down on late voters
Democratic leaders in California agree that speeding up the vote count would be nice. But they refuse to pursue any changes that would decrease voter access or despite voter frustration with the slow trickle of results.
Ranch lovers can soon travel with a TSA-friendly kit of the popular American dressing
Ranch dressing is having a viral moment thanks to World Cup fans discovering the American condiment. Kraft is seizing the opportunity with a TSA-compliant travel kit.
DOJ rebuffs judge's request to put in writing it won't move forward with 'anti-weaponization' fund
The DOJ in May announced it was creating the fund as part of a settlement of President Donald Trump's $10 billion lawsuit against the Internal Revenue Service.
Employers to college students: Never mind that 4.0 GPA. Go out and get a summer job.
College students with any sort of work experience on their résumés are twice as likely to be employed shortly after graduating.
Chip stocks are setting records, but this hidden chart pattern says momentum favors the bears
The SOXX’s RSI indicator has fallen further below the overbought threshold despite prices making record highs. History suggests that’s a bad sign.
The loneliness crisis has gotten so bad that lawmakers are ready to spend millions of dollars to fight it
The health damage of loneliness is similar to heavy smoking and obesity
‘We are habitually frugal’: My wife and I have money. How do we help our children without ruining their independence?
“Partly due to some mental-health issues, they may continue to go through life living paycheck to paycheck, or worse.”
Oil prices face fresh wave of volatility amid conflicting reports about Strait of Hormuz reopening and ongoing regional strife
A flurry of headlines on Friday point to an increasingly fragile deal between the U.S. and Iran.
US and Iran Delay Nuclear Talks as Lebanon Clashes Worsen
The US and Iran have postponed the start of their negotiations over a permanent peace deal and restricting the Islamic Republic’s nuclear program.It’s uncertain why the talks, meant to be held in Switzerland on Friday, have been delayed, though Israel …
The Fed is forcing Wall Street to do the heavy lifting. Use these benchmarks to find your footing.
Fed watching is looking very different now. Two charts can help you in the Warsh era.
Hormuz Traffic Thins Friday as Shipowners Err on Side of Safety
Traffic through the Strait of Hormuz appeared to thin early on Friday, just a day after a burst of oil flows through the waterway as the US and Iran vowed to lift a dual blockade. No tankers were seen moving …
Homeowners tapped $47 billion in equity in the first quarter. What to consider before you borrow
While high home values mean homeowners are sitting on an estimated $11 trillion in equity, it should not be viewed as free money, experts say.
Bob Iger reflects on 10 years of Shanghai Disneyland as it defies the Chinese pullback
Shanghai Disneyland hit 100 million cumulative visitors in 2025, according to the company. It's a relatively new but important foothold in Disney's history.
Struggling to find a job? Try looking in Nevada
The sparsely populated state known for its world-class casinos and dry climate has been a hiring hot spot.
NetJets' first fatal crash kills influential Texas VC founder
NetJets is not speculating on what caused one of its planes to crash onto a highway in Laredo, Texas late Tuesday, killing a prominent tech entrepreneur.
The riskiest SpaceX stock trade of all had a big first week
SpaceX's IPO did not just mint the biggest debut in market history and a trillionaire, but it also triggered a historic land grab in risky leveraged ETFs.
Memory crisis hits such extremes that 'even Apple can't be safe'
Apple appears poised to take the rare step of increasing prices to deal with what CEO Tim Cook called an "unsustainable" memory shortage.
Musk's SpaceX stake is worth over $1 trillion. Here are the other billionaire shareholders
SpaceX shares were up 37% after its historic debut last week, which offered shares at a set price of $135.
Oil tanker traffic in Strait of Hormuz jumps after U.S. and Iran implement deal to open sea lane
The U.S.-Iran deal has raised questions about how the Strait of Hormuz will be governed after the toll-free period ends.
People Moves: Hub International Names Collins Northeast Area President
Hub International Limited (HUB), headquartered in Chicago, Illinois, appointed Paul Collins as Northeast area president, effective July 1. In this expanded role, Collins will continue to lead HUB Northeast while also assuming responsibility for HUB New England. Collins has been …
Viewpoint: Hormuz Is Reopening, but Global Shipping Won’t Return to Normal for Months
Iran and the United States are about to sign a peace deal that will reopen the Strait of Hormuz, the narrow waterway that carries about one-fifth of the world’s oil. Oil prices reacted quickly to the announcement of the tentative …
Trump picked Kevin Warsh to cut rates. The new Fed chief just told us he has other plans.
Here’s what the central bank’s hawkish agenda means for your money.
Trump Administration Backtracks on Removing Ocean Sensors
The Trump administration is dropping near-term plans to dismantle a $386 million federal ocean-observing system after encountering resistance from scientists and Congress. The National Science Foundation said Thursday it will pause efforts to decommission most of the Ocean Observatories Initiative, …
Warsh’s new task forces give the Fed wiggle room to put off changing rates until December
During his first press conference as Fed chair Wednesday, Kevin Warsh repeated one refrain in his answers to many reporters’ questions: A task force is looking into it.
Markets/Coverages: Chubb Leads New Lloyd’s War Risk Consortium for Hormuz Shipping
A new Lloyd’s market consortium has been launched to provide additional marine war risk insurance capacity for vessels and cargo transiting the Strait of Hormuz, Lloyd’s announced. Chubb will serve as lead underwriter, supported by participating Lloyd’s syndicates and specialist …
Teen Dies After Being Thrown From Horse-Drawn Carriage in NYC’s Central Park
A teenager thrown to the ground Wednesday when a Central Park carriage horse bolted away from its driver has died, according to police. The 18-year-old was riding in the horse-drawn carriage with three other passengers when the accident happened just …
DeSantis Signs Citizens Commercial Clearinghouse Bill That’s Been Called ‘Unneeded’
Florida Gov. Ron DeSantis has signed a bill that will create a commercial clearinghouse for Citizens Property Insurance policies, a bill that a number of brokers and agents have called “unnecessary” and little more than a sop to one major …
North Carolina Ethics Panel Dismisses Complaint About Insurance Commissioner
The North Carolina Ethics Commission has dismissed a complaint against Insurance Commissioner Mike Causey, brought by a former employee who accused him of sexual harassment, news outlets reported. “After review and discussion as necessary, the Panel concluded its preliminary inquiry …
People Moves: Arch Promotes Halgan as CEO of Global Reinsurance, Schmeiser as CEO, Global Mortgage; Sompo International Markets Names MacHale as CUO, Head of Strategy
This edition of International People Moves details appointments at global re/insurers Arch Capital Group and Sompo. A summary of these new hires follows here. Arch Capital Group Ltd., the Bermuda-based provider of insurance, reinsurance and mortgage insurance, announced the promotions …
California and US West Threatened by Wildfires Over Coming Days
The fire threat across the U.S. West will rise Friday and remain dangerous through Saturday for many areas, including Northern California, as lightning strikes risk igniting dry vegetation. Critical fire weather conditions and dry lightning will prevail across the western …
Landmark downtown apartment tower faces foreclosure
A landmarked downtown Los Angeles apartment building designed by famed Los Angeles architect John Parkinson is on the market as its owners face foreclosure.
California turns to minimum wage hikes to offset high living costs. There’s a downside
California frequently turns to minimum wage hikes to offset the state's high living costs, but that creates economic pressures that can also squeeze households stuck in the middle.
On Juneteenth, Californians should ask: What will it take for Black communities to thrive?
Amid a national backlash, is California willing to move from celebrations of freedom to building the structural conditions for Black people to permanently thrive?
Cal State faculty push to prevent AI tools from replacing them as schools and staff experiment
The union representing California State University professors is contesting the system's use of artificial intelligence tools and backing legislation that would protect their jobs from the technology.
Meta Lobbies Congress for Protection From Child-Harm Lawsuits: Reuters
Meta Platforms has lobbied the U.S. Congress for legal immunity from child-harm claims tied to social media products such as Instagram, as it faces thousands of lawsuits from young users and their families, according to a source familiar with the …
People Moves: ZestyAI Names Friend CFO and Ross SVP; Alliant Names Ackerman VP
ZestyAI Names Friend CFO and Ross SVP, Client Development ZestyAI appointed David Friend as chief financial officer and John Ross as senior vice president of client development. Both executives have decades of experience in insurance and enterprise technology. Friend has …
Dali Engineer Reaches Deferred Prosecution Deal Over 2024 Key Bridge Collapse
The chief engineer of the cargo ship Dali that destroyed Baltimore’s Francis Scott Key Bridge in a March 2024 collision that killed six construction workers reached a deferred prosecution agreement, the government said on Thursday. The Justice Department said Karthikeyan …
Flood Insurance Gap Will Squeeze Local Governments and Homeowners, Moody’s Says
The flood insurance gap in the United States is big and it’s not getting better. And the consequences of that gap are about to worsen for property owners and state and local governments, thanks to increasing rainfall amounts, stronger storm …
Trump Says Illegal Immigration Increased Car Insurance but Experts Say Otherwise
President Donald Trump this week credited his tough immigration policies for a drop in car insurance premiums, falsely blaming illegal immigration during his predecessor’s time in the White House for a prior increase. In a Monday post on Truth Social, …
People Moves: HDI Global US Appoints Salmon Head of Cyber Underwriting; AXA XL Names Giordano Global Chief Underwriting Officer
HDI Global US Appoints Salmon as Head of Cyber Underwriting Corporate and specialty insurer HDI Global (HDI), headquartered in Chicago, Illinois, appointed Jill Salmon as head of cyber underwriting at HDI Global U.S. Salmon will play a key part in …
People Moves: Donegal & Michigan Insurance Promotes Faber to Regional VP as Veenstra Retires
Donegal Insurance Group, headquartered in Marietta, Pennsylvania, and its member company, Michigan Insurance Company, promoted Rob Faber to regional vice president of the group’s Greater Midwest region. Faber succeeds Melissa Veenstra, who will retire on July 2. Faber joined the …
APCIA Tells Michigan Senate to Oppose Bill Mandating Auto Rate Reductions
A Michigan Senate Committee this week advanced a bill that would mandate auto insurance premium reductions of at least 10% without reduced benefits, Sen. Jeff Irwin (D-Ann Arbor) authored SB 328, which he says will lower car insurance premiums for …
Texas State Fire Marshal’s Office Probes Deadly Residential Fire in Odessa
The Texas State Fire Marshal’s Office (SFMO) said it is investigating a residential fire in Odessa that resulted in the death of one firefighter and injured six others. Firefighters from Odessa Fire Rescue and West Odessa Volunteer Fire Department were …
Louisiana Plans $1.1B Investment in New Orleans Land Bridge Restoration
There’s an increasingly narrow strip of New Orleans marshland that hardly anyone lives on, but without it, hundreds of thousands of people will face far greater risks from storms and floods. The area, commonly called the New Orleans Land Bridge, …
Beyond Auto and Home: Why Agencies Should Eye Small Commercial Insurance
If your insurance agency is built primarily on personal lines like auto, homeowners, or renters’ insurance, you already know the market has been challenging to manage. Shifts in underwriting, carrier pricing, and eligibility can impact profitability, even when your renewal …
Is Tesla succeeding in AI? Watch this for a clue.
As Tesla has doubled down on artificial intelligence, investors are left trying to make sense of the company’s progress. According to analysts at Oppenheimer, tracking how Tesla spends its cash may provide some insight.
U.S.-Iran deal in photos: ships in the Strait of Hormuz, daily life in Tehran
The first signs of a post-war recovery are emerging across the Middle East after the United States and Iran signed a memorandum aimed at ending the conflict.
What this biotech's volatile stock price tells you about the weight loss market right now
While the market's enthusiasm for one of Zealand's experimental drugs has cooled, investors are shifting focus to amylin-based medicines as a growth driver
UK gilt yields jump as borrowing rises and PM Starmer faces leadership challenge
Andy Burnham won the Makerfield by-election, defeating Reform UK by more than 9,000 votes with nearly 55% of the vote.
U.S. opens tariff probe targeting Germany’s drug pricing policies
U.S. Trade Representative Jamieson Greer said Germany's proposal to reduce spending on medicines was "a serious step backwards."
Why Japan's $70 billion-plus intervention and a rate hike didn't prop up the yen more
Japan was willing to step in to defend the yen around the 160 level before, and it's at that point again.
India's largest telecom and digital service Jio Platforms files for IPO
India's largest wireless operator and digital service provider, Jio Platforms files for IPO
Hormuz relief may not ease the economic toll that's already 'baked in,' analysts warn
Early signs of reopening of the Strait of Hormuz have lifted the most acute threat to global energy supplies but economic damages from the war will take months to unwind.
Russia threatens escalation after Ukraine hits Moscow with largest-ever drone attack
Russia has pledged to carry out frequent and "massive group strikes" against Ukraine shortly after Kyiv launched a barrage of drones on Moscow.
U.S.-Iran accord hits early snag after Swiss talks fail to proceed as planned
Analysts reckon a lasting resolution to the Middle East conflict will take some time to materialize.
Micron, other memory stocks are having their best year ever. Why do they still look so cheap?
Some of the AI boom’s biggest earners have become its biggest bargains.
Trump DNI pick Pulte poised to get access to U.S. intelligence despite congressional bid to thwart
With President Donald Trump halting his nomination of U.S. Attorney Jay Clayton as director of national intelligence, Bill Pulte is set to take on the role.
Waymo recalls about 3,900 robotaxis after some drove into 'freeway construction zones'
After some Waymo robotaxis drove into closed construction zones, the company implemented a recall to fix underlying software issues.
U.S. Navy ends blockade of Iran's ports and coastal areas
The Navy on Thursday lifted its blockade of Iran's ports and coastal areas at the direction of President Donald Trump.
In photos: Star-studded crowd gathers to celebrate the Obama Presidential Center dedication
Barack Obama opened his presidential center in Chicago with former presidents, celebrities and dignitaries in attendance. President Donald Trump was absent.
Amazon investigating engineers who criticized AI data center expansion
Five Amazon employees testified at Seattle City Council meetings where officials sought feedback on a year-long data center new construction pause.
Trump administration temporarily cuts student loan interest rates for borrowers on autopay
The Trump administration announced it will offer federal student loan borrowers who sign up for autopay a larger interest rate discount.
Japan core inflation holds steady in May, matching expectations despite energy price concerns
Headline inflation edged up to 1.5% from 1.4%, while the so called "core-core" inflation rate, eased to 1.8% from 1.9%.
The average SpaceX buyer post-IPO is almost under water after two-day slide
Shares of SpaceX fell as much as 7% Thursday to $178, leaving the stock trading roughly in line with its volume-weighted average price of just under $180.
Trump claims Iran deal is 'unconditional surrender,' says his power has 'no limits': Axios
Trump said in an interview with Axios on Thursday evening stateside that he negotiated the deal to prevent the conflict from triggering a global depression.
SpaceX options volume explodes as trading kicks off. Here is a low-risk strategy to play the massive surge.
This pro-level move minimizes out-of-pocket costs and helps manage risk.
Micron’s stock is on the rise. Even Apple isn’t safe from ballooning memory-chip costs.
Demand for memory chips will continue to outpace supply in the near term despite efforts to add manufacturing capacity, an analyst says.
Two big reasons Accenture’s stock is sliding in the wake of earnings
The consulting company’s outlook came up short of expectations, and at least one analyst wonders if newly announced deals will bring complex integration challenges.
SpaceX is vastly more expensive than any stock in the S&P 500, fueled by ‘FOMO’ mentality
Billions of dollars have flowed into SpaceX ETFs as retail investors look past conventional valuations.
I’m 55 and retiring in 6 years. Should I be switching to Roth 401(k) contributions now?
People are still holding back on participating in Roth plans at work, Vanguard says.
Mangione Drops Psychiatric Defense Bid for New York Murder Case
Luigi Mangione’s lawyers withdrew a plan for a psychiatric defense at his upcoming state murder trial in the shooting death of a UnitedHealth Group Inc. executive. In a letter to New York state Judge Gregory Carro on Thursday, the defense …
This AI company wants to replace MRIs with a 60-second dip in the spa. Can that really work?
Midjourney is making a foray into healthcare with its latest body-scanner product, aiming to make medical imaging more accessible.
After nearly two decades, this massive New Mexico wind project is now powering California
One of the largest clean energy projects in United States history is now online, delivering electricity from a massive wind farm in New Mexico to Arizona and California.
Uber, California lawyers say deal reached to avert dueling ballot initiative showdown
The state's trial attorneys and Uber say they have reached a last-minute deal to scrap their competing ballot measures over car crash lawsuits and sexual assaults, averting what was gearing up to be one of most expensive battles of the November election.
January 2025 wildfire victims seek tougher penalties against State Farm over claims handling
The Every Fire Survivors Network, a group of January 2025 fire victims, has filed a petition to join state regulators seeking to fine State Farm over its claims handling practices.
This lawmaker’s proposal could make California ‘the most secretive state in the country’
Pacheco’s legislation would allow public agencies to delay records requests it deems “improperly” filed, sue for “malicious” requests and charge up to $66 an hour to produce government records. One good governance advocate calls it a “virtual horror show of governmental non-transparency.”
California is getting ready to increase a health insurance tax. Will it affect your premium?
A balance act: To help fund the safety net, lawmakers have voted through a health tax extension that could increase premium costs for Californians with private insurance
California se encuentra en un punto muerto con el Departamento de Vehículos Motorizados por compartir datos de licencias de conducir con otros estados
Los legisladores de California están reteniendo los fondos que la administración de Newsom solicitó para una base de datos nacional de licencias de conducir, debido a la preocupación de que la información pueda conducir a deportaciones.
Federal Reserve Board issues enforcement action with former employee of Bank of Eufaula and S N B Bancshares, Inc.
Federal Reserve Board issues enforcement action with former employee of Bank of Eufaula and S N B Bancshares, Inc.
Hiltzik: A porn firm that a judge called a 'copyright troll' now has Meta in its sights — and it could win
This porn company made millions by shaming the little guys who downloaded its films. But now it's going after Meta for copyright infringement.
Trump’s Iran agreement is a massive buy signal for stocks
Hyperventilating experts were wrong about the Iran war. The end of the conflict is a massive buy signal for stocks.
Fed Chair Kevin Warsh wants to get inflation under control. That could be bad news for home buyers seeking lower mortgage rates.
The Federal Reserve is in a “new era,” but home buyers are facing the same old affordability challenges.
Accused Insurer CEO Killer Mangione Could Face Hurdles With Mental Health Defense
Luigi Mangione, the man accused of assassinating a health insurance executive in a carefully executed plot, could have a hard time convincing jurors at his murder trial that he suffered a mental health breakdown, legal experts said. Mangione is accused …
These stocks are in trouble after Fed Chair Kevin Warsh removed the market’s guardrails
The new chief is ditching the central bank’s playbook — leaving your portfolio flying blind.
Zurich’s Planned £8.1B Acquisition of Beazley Gets Regulatory Nod in Australia
Zurich Insurance Group’s proposed £8.1 billion (US$10.8 billion) acquisition of Lloyd’s insurer Beazley plc has received approval from Australia’s regulatory watchdog. The Australian Competition and Consumer Commission (ACCC) announced on June 17 that the acquisition “may be put into effect” …
Energy markets will never be the same, even after the Iran cease-fire deal
The Iran war’s legacy likely will be an urgent need to rethink energy security.
Waymo Recalls Thousands of Robotaxis Over Risk of Entering Construction Zones
Alphabet self-driving unit Waymo is recalling nearly 3,900 robotaxis in the U.S. because a software issue could cause the vehicles to enter a closed freeway construction zone and continue driving. It is the second recall by Waymo in just over …
This is one issue in the Iran deal that critics may be missing and that investors should understand
President Donald Trump signed a preliminary deal with Iran late Wednesday while in France, putting terms of the 14-point agreement into effect two days earlier than expected.
RSUI CEO McCrorie to Retire in 2027; Whittington to Become CEO
Specialty insurer RSUI announced that Chairman and Chief Executive Officer Phillip McCrorie will step down as CEO at year-end 2026, concluding a career spanning nearly 40 years in the insurance industry. He will remain RSUI’s executive chairman through the first …
Inside the wild week for SpaceX and the traders who pushed up its stock price
Also in Weekend Reads: A contrarian energy investment play as oil prices fall, credit advice for Gen Z and advice from the Moneyist.
First Tankers Cross Strait Under Iran Deal; Israeli Strikes Raise Doubt in Lebanon
Three Saudi-flagged supertankers carrying 6 million barrels of crude sailed through the Strait of Hormuz on Thursday, hours after U.S. President Donald Trump signed a deal with Iran to end the war that has disrupted global energy supplies. But in …
Here’s the new way to significantly reduce the interest rate on your student loans
Borrowers who enroll in autopay will receive the benefit starting July 1.
World Insurance Adds Wolpert Agency of Massachusetts
Global insurance broker World Insurance Associates reported that it recently bought the business of Wolpert Insurance Agency of Worcester, Massachusetts. Terms of the October 1, 2025 transaction were not disclosed. Wolpert was established in 1956. It is known for its …
People Moves: Fortegra, Alabama DOI Put New Faces in Key Roles
Fortegra Group, the Jacksonville-based parent company of specialty insurers, named Anthony Katz, a longtime actuary, as senior vice president for reserving. Katz will lead Fortegra’s team of actuaries, overseeing reserving, credit insurance, statistical reporting and compliance with the new IFRS …
California Homeowners Insurance Costs Still 41% Below National Average, Report Shows
California homeowners pay 41% below the national average for homeowners insurance, a study from LendingTree shows. LendingTree’s State of Home Insurance: 2026 report, which is based on rates publicly sourced from insurer filings, shows California homeowners paid an average of …
Major Hack Campaign Against Fortinet Devices Hits Prominent Organizations
Researchers say a sweeping hacking campaign targeting devices made by Fortinet has led to compromises across the internet, with evidence of password theft at Fortune 500 companies and government agencies in more than 15 countries. Most of the affected devices …
Wastewater Leak Under Texas Church Parking Lot Causes Millions in Damage
An old oil well sprang back to life under the parking lot of the First Baptist Church of Grandfalls in April. Over the next eight days, more than 1.5 million gallons of toxic wastewater flowed out of the earth, according …
People Moves: Sunstar Names Hearst as EVP, National Growth and Sales Strategy
Sunstar Insurance Group announced the appointment of Brad Hearst as executive vice president, national growth and sales strategy. Hearst brings extensive insurance-industry leadership experience in driving organic growth, developing high-performing sales organizations and building disciplined sales processes that deliver measurable …
Zurich Sees Data Center Boom Spurring Insurance Securitization
The level of investment into data centers globally may soon make it necessary for insurers involved to begin selling securitization products to spread the risk among a broader pool of investors, according to Zurich Insurance Group AG. “I do anticipate …
Here are the odds of SpaceX becoming the world's most valuable company
SpaceX debuted as the fifth-biggest stock. The path to third place could take years, at least according to options prices.
GOP Rep. Steil pushes bill curbing members of Congress from prediction market betting
The new proposal on limits on members of Congress making such bets come as scrutiny increases on prediction markets like Kalshi and Polymarket.
Bonkers SpaceX stats that show how staggering the money movement has been
SpaceX's first few days of trading have been filled with superlatives, from trading volume to the size of the company's first acquisition.
SpaceX stock sinks 9%, continuing to cool after three-day rally
Investor bullishness showed signs of waning on Wednesday, as shares sank 5%.
OPEC chief dismisses IEA supply glut forecast as 'critical' Strait of Hormuz reopens
The IEA said on Wednesday that a lasting resolution to the conflict could drive a surge in supply volumes and trigger a major oil overhang next year.
Markets are set for a much more hawkish Warsh Fed than expected
Fed Chairman Kevin Warsh's tough talk on inflation Wednesday reverberated through financial markets.
Trump bid to fire Fed's Lisa Cook cost her more than $1M in legal, security costs: Filing
A financial disclosure from Federal Reserve Governor Lisa Cook details large legal and security expenses
Vance says U.S. isn’t giving Iran ‘a cent’ as he defends Trump peace deal
"The only way the Iranians get any of these resources ... is if they comply fully" with the terms of the deal, Vice President JD Vance said.
Oil prices fall after Vance says more than 12 million barrels exit Strait of Hormuz
Oil declines as Mideast peace prospects rise following U.S.-Iran deal.
Federal Reserve Board requests comment on proposal to require certain payment stablecoin issuers to maintain an effective customer identification program
Federal Reserve Board requests comment on proposal to require certain payment stablecoin issuers to maintain an effective customer identification program
Federal Reserve Board issues enforcement action with former employee of Manufacturers and Traders Trust Company
Federal Reserve Board issues enforcement action with former employee of Manufacturers and Traders Trust Company
A tax on billionaires qualified for the November ballot. 5 things to know about the measure
A California union wants to tax billionaires to fund healthcare. The initiative has drawn fierce opposition from Newsom and Silicon Valley moguls.
Single-payer healthcare in California is possible. An economic and political thicket stands in the way
A pathway to single-payer healthcare may be possible, but hacking it through the thicket of healthcare economics and politics would require dozens — or even hundreds — of difficult choices.
Newsom promised to help Californians build new careers. Now, the money is running out
Gov Gavin Newsom made job training and the creation of a master plan for career education part of his agenda. Now, key workforce initiatives may get no new funding.
Immigration raids have made skin color top of mind for a new generation of California Latinos
As immigration agents conduct roving patrols, a Cal State Fullerton student reflects on the racial profiling her father experienced and how it inspires her to correct the narrative.
State workers fight Newsom’s return-to-office mandate
Scheduling note: WhatMatters is taking Juneteenth off and will return to your inboxes Monday. Gov. Gavin Newsom’s mandate for state workers to return to the office four days a week is back on, and many public employees are fighting to stop it with little time to spare. Dozens of them showed up at a Senate […]
Zurich Files Growth Plan Under California Sustainable Insurance Strategy
Zurich is committing to expand its property coverage availability in areas designated as distressed in California in a new filing. Zurich U.S. submitted a commercial property insurance rate filing in California under the state’s Sustainable Insurance Strategy, an effort by …
People Moves: Ward Joins Alliant Insurance Services Benefits Team as SVP; Delos Appoints Cammet Chief Product Officer
Ward Joins Alliant Insurance Services Benefits Team as SVP Brandon Ward joined Alliant Insurance Services as senior vice president within its employee benefits group. Ward has a background working with technology companies, venture-backed businesses and growth-stage organizations. His experience includes …
Federal Judge Sends Bayer’s $7.25B Roundup Settlement Back to State Court
A federal judge sent Bayer’s proposed $7.25 billion Roundup settlement back to state court on Wednesday, overruling objections from plaintiffs who had argued the state court had no power to implement a nationwide resolution of lawsuits that claim the company’s …
Higginbotham Teams with South Georgia’s Blanton & Griffin Agency
Higginbotham, ranked as the 16th-largest independent brokerage in the U.S., has expanded again, this time with the acquisition of Blanton & Griffin Insurance Agency in Valdosta, Georgia. The collaboration adds southern Georgia market strength and an established local team to …
Scientists Found the Coral Reefs That Can Survive Climate Change
Some coral reef ecosystems have a far greater chance of surviving the effects of climate change than previously understood, according to new global research. About 166,000 square kilometers (64,093 square miles) of coral reefs across 71 countries have capacity to …
Some States Are Forging Ahead With AI Regulations
Six months after President Donald Trump warned states not to regulate artificial intelligence, they are increasingly doing just that. Congress has stalled on producing federal regulation of artificial intelligence as states forge ahead and scrutinize how chatbots interact with children, …
Amazon Faces Billions in Penalties From Potential FTC Ad Suit
Amazon.com Inc. is facing a possible lawsuit from the US Federal Trade Commission that may lead to billions of dollars in civil penalties, over claims the e-commerce giant misled advertisers, according to people familiar with the matter. The FTC, which …
Google Gemini co-lead Noam Shazeer leaves for OpenAI
Google's vice president of engineering and a co-leader of its Gemini AI models announced Wednesday he is leaving the company to join OpenAI.
CEOs of Anthropic and Google DeepMind call for U.S.-led AI coalition in meeting at G7
Tech leaders and heads of state, including President Donald Trump, joined a meeting about AI standards at the G7 Summit.
Trump-Modi bromance back on display in meeting on sidelines of G7
U.S. President Donald Trump pledged to defend India, but only if Narendra Modi is the leader.
Wanted: War-Zone Divers to Scrape Barnacles From Ships in Persian Gulf
Demand for ocean divers who specialize in barnacle scraping is soaring as ships stranded in the Persian Gulf for more than three months prepare to disembark. The surge in orders for crews to clean ship hulls fouled by algae, slime …
SpaceX adds longtime Elon Musk ally Roelof Botha to board
Roelof Botha, who worked with Elon Musk at PayPal in the dot-com era before becoming a prominent venture capitalist, is joining the SpaceX board.
Strait of Hormuz reopening may take weeks to ease shipping backlog and oil pressure
The Strait of Hormuz is set to reopen after Iran and the U.S. sign a peace deal, but experts warn backlogs and security checks could delay normal shipping.
Intel gains 10% after Trump says company will partner with Apple on U.S. chip design
The boost continues Intel's recent rally as the chipmaker bounces back from years of headwinds.
People Moves: Hiscox appoints Bailey as Head of Channel, Traded and Corix; CRC Group Names Greenwood CEO of Underwriting Division
Hiscox appoints Bailey as Head of Channel, Traded and Corix in the US Hiscox, with headquarters in Atlanta, appointed Lori Bailey as head of channel, traded and Corix. Bailey will report to Mary Boyd, CEO of Hiscox USA, and will …
Uber to Offer Robotaxis in Houston With Lucid and Nuro, Posing Challenge to Waymo
Uber Technologies Inc. will offer driverless robotaxi rides in Houston in vehicles developed by Lucid Group Inc. and Nuro Inc., setting it up to challenge Waymo in the fourth-largest US city. Nuro is already testing the vehicles in Houston, but …
Biofuels Are Key to Avoiding Sharp Farmland Drop, S&P Says
Expanding biofuel demand is a “powerful catalyst” to restore profitability to American farms, according to a new study, as harvests balloon and lawmakers consider broadening the market for corn-based ethanol. Climbing crop yields are creating persistent surpluses thanks to better …
Capital Factory CEO Killed in Private-Jet Crash in Texas
Joshua Baer, the founder and chief executive officer of the venture capital firm Capital Factory, died Tuesday in a plane crash in South Texas, the Austin American-Statesman reported. Baer, a major player in the Texas technology and startup space, was …
My two sons will inherit a $30,000 annuity from their grandmother. What should I do with the money?
“My understanding is that they have five years to withdraw the money.”
Intel’s stock jumps 11% — even as analysts say new Apple chip deal might start small
Intel “is steadily expanding its domestic capacity and converting political and strategic tailwinds into concrete foundry wins,” an analyst says.
Allbirds stock takes flight after announcing new CEO and name change
Shoe company turned AI company Allbirds is changing its name and tapped a new CEO.
Rivian lays off hundreds of workers days after new vehicle deliveries begin
The electric vehicle maker Rivian cut about 2% of its workforce following the first deliveries of the R2 SUV, a key new model with a lower price tag.
Trump administration pays $765 million to kill more offshore wind projects, including one off California
The Trump administration on Wednesday said it will pay developer Invenergy $765 million to walk away from four U.S. wind leases, including one off the coast of California, and invest instead in geothermal and fossil fuel projects.
Stock-market pessimists have one less reason to worry as shares of banks and retailers perk up
The rally is once again broadening beyond tech
Kevin Warsh launches his push to change how the Fed operates
The new Federal Reserve chair rolls out five task forces that will focus on the central bank’s communications, inflation frameworks and more
Warren Buffett’s mentor said his wealth came down to luck. Is your life savings riding on a coin flip?
The illusion of investing knowledge is powerful: Why you’re probably paying a financial adviser for pure chance.
Did Warsh and Vance just open the door to higher inflation?
The U.S. government’s official 2% annual inflation target has suddenly been thrown into doubt by Kevin Warsh and J.D. Vance.
Pennsylvania Workers’ Comp Ban on Self-Referrals Does Not Apply to Pharmacies
The anti-referral provision in Pennsylvania’s workers’ compensation law does not prevent a provider from referring a patient to a pharmacy in which the provider has a financial interest. The Pennsylvania Supreme Court has ruled 5-2 that the law’s prohibition on …
It’s ‘unavoidable’: Apple says it will be forced to raise prices due to the AI boom
Tech giants are gobbling up memory chips for AI servers, leaving Apple with soaring component costs that Tim Cook says will inevitably be passed on to consumers.
Michigan Man Charged With Setting Fire to Church
A Flint, Michigan man was charged last week in a criminal complaint with arson and other related offenses for setting fire to St. Mark Missionary Baptist Church, United States Attorney Jerome F. Gorgon Jr. announced. According to the criminal complaint, …
Rumble gets 22,000 Nvidia chips, but the video company’s CEO insists this isn’t a fad-like pivot
Is Rumble’s AI expansion just Allbirds 2.0 — or a move modeled after Elon Musk?
Fed holds interest rates steady: Here's what that means for credit cards, savings rates, mortgages and car loans
Here’s a look at how the Fed's June interest rate decision may affect your finances.
CME CEO Terrence Duffy says the exchange operator will sue CFTC over perpetual futures
Outgoing CME CEO Terrence Duffy said that the exchange operator will sue the CFTC over the agency’s decision to approve perpetual futures.
Chairman Warsh drastically alters Fed rate statement. Here's what's changed
This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policymaking meeting in April.
2-year Treasury yield rockets higher as many Fed officials signal possible hike this year
U.S. Treasury yields rose on Wednesday after the Fed held interest rates steady during Kevin Warsh's first policy meeting as chairman.
Chairman Warsh abstains from giving rate forecast as several members signal a hike in 2026
The median projection called for the federal funds rate to end 2026 at 3.8%, a quarter percentage point above the current target range.
Analysis: Chairman Kevin Warsh’s task forces are the key to understanding the new Fed
The new leader of the Fed left interest rates alone but made clear how he plans to rewire the central bank.
Inside India newsletter: Anthropic curbs ignite AI debate in India — efforts 'too slow, way too small'
India's ambitions of becoming a global AI innovation powerhouse by building applications on top of foreign foundational models are being challenged.
Defense contractors would be barred from buying back their stock in bill approved by Senate panel
A bill the Senate Armed Services Committee approved would prevent defense contractors from buying back their stock without Pentagon approval.
Jeffrey Gundlach says Fed's Warsh is not going to be the 'easy money' chairman many hoped for
Gundlach said Warsh's stance reduces the risk of overly accommodative monetary policy that could reignite inflation and push longer-term borrowing costs higher.
Here are the five big takeaways from Kevin Warsh's first meeting as Fed chairman
The Federal Reserve and Chairman Kevin Warsh on Wednesday followed the script on interest rates closely.
Federal Reserve Board and Federal Open Market Committee release economic projections from the June 16-17 FOMC meeting
Federal Reserve Board and Federal Open Market Committee release economic projections from the June 16-17 FOMC meeting
Federal Reserve issues FOMC statement
Federal Reserve issues FOMC statement
Trump and Iran's President Pezeshkian sign memorandum aimed to end war
President Trump earlier said at the G7 summit that the memorandum of understanding with Iran "might not be the kind of document that I should be signing."
Scared to spend your retirement money? Here’s one way to get over the fear of running out.
This fear is probably going to cause you some regrets.
Snap breaks from the pack with heavy $2,195 smart glasses. Wall Street is panning the move.
Snap’s stock was extending its declines, as the weight of its new ultraexpensive augmented-reality glasses is seen as a potential “nonstarter for mass appeal.”
Renouncing your U.S. citizenship costs just $450. But there’s a world of hidden costs, too.
Before cutting legal ties to the country, consider the expenses.
Complex Cats, Talent Exodus Will Confound Insurance Models This Year: Sedgwick
The 2026 catastrophe season will face a more distributed and harder-to-predict risk landscape than carriers have historically planned for, according to a new report by global claims administrator Sedgwick. The complex nature could make claims harder to manage, more expensive …
Patagonia Sues Pattie Gonia, A Drag Performer in Oregon With An Enviro Message
Days before the beginning of Pride Month in June, a glamorous drag queen with long, wavy red hair, a matching mustache and carabiner earrings stared into a camera and levied a strong accusation against a famous sustainable outdoors apparel brand: …
Former Lawmaker to Face King in Georgia Commissioner Vote in November
A former Atlanta City Council member will face incumbent Insurance Commissioner John King in the Nov. 3 election, after she defeated a longtime insurance agent in the Tuesday runoff. Georgia voters gave Keisha Sean Waites some 58.7%, or 223,909 votes …
Child Killed and Person Injured After Mississippi Police Shoot at Car
A 1-year-old boy is dead and another person wounded after a Mississippi police officer shot at a vehicle while responding to a shoplifting call, according to authorities and the child’s grandfather. The child’s mother, her friend and 1-year-old Kohen Wiley …
My mother was co-owner of my late grandmother’s bank account. Should she share the money with her siblings?
“The will stated that the estate was to be divided equally among her children.”
Emirates Offers War Travel Insurance as Gulf Carriers Reboot
Emirates Airline is offering travel insurance that includes medical coverage for war-related incidents and extended-stay support during disruptions, another example of how Gulf carriers are trying to reboot their businesses now that a US-Iran peace deal is on the table. …
Is the stock market closed today for Juneteenth? Will the post office deliver mail?
The June 19 federal holiday falls on a Friday this year. Here’s how trading hours and other services are affected.
Here’s how stocks performed under different Fed chairs — and how much influence Warsh really has
A look at stock-market performance under Fed chairs going back to the 1930s.
Tropical Storm Arthur to Bring Heavy Rainfall to Gulf Coast States
A tropical storm developed off the coast of Texas on Wednesday, bringing a multiday heavy rainfall event across the Gulf Coast states. Tropical Storm Arthur, the first named storm of the Atlantic hurricane season, is forecast to move northeastward along …
Washington National Airport Will Halt Operations for Most of July 4th
Ronald Reagan Washington National Airport will close on July 4 starting at noon (1600 GMT) due to 250th U.S. anniversary events in the U.S. capital region including a military flyover, according to the regional agency that manages its operations. The …
Wrong-Way AI Trade Costs Florida Stock-Picker $50 Billion
It was 180 degrees off the hot trade on Wall Street. Snub Nvidia Corp., the soaring king of artificial intelligence chips. Embrace Adobe Inc., a sinking casualty of AI disruption. Polen Capital did just that, and more, until it was …
Americans’ 401(k) balances hit record levels last year. See how you compare.
It was a very good year for most workplace retirement savers, according to Vanguard’s latest “How America Saves” report
Federal Investigators Probe Fatal Plane Crash Involving Skydivers in Missouri
Several of the skydivers killed when their plane crashed moments after taking off from a Missouri airfield were experienced jumpers, including a leader at one of the sport’s biggest organizations. Federal investigators were at the crash site, about an hour …
Doing its Job: Large Majority of Cyber Losses Covered by Insurance, Says Willis
More than 95% of average data breach losses and 90% of average first-party losses are adequately covered by insurance, according to a recent report by Willis, a WTW business. Cyber claims in Focus – Getting value from cyber insurance analyzed …
We read the Social Security and Medicare trustees reports. If you’re not worried, you should be.
The truth about “DOGE” savings, no tax on Social Security, immigration — and more.
World Insurance Acquires New Jersey’s ML Ruberton Agency
World Insurance Associates LLC has acquired the business of ML Ruberton Agency and MLR Risk Management (MLR) of Hammonton, New Jersey. MLR provides personal and commercial property insurance, life and health insurance, and consulting services. Terms of the March 1, …
Retail investors have been buying more SpaceX shares than all of the ‘Magnificent Seven’ combined
Retail investors net bought $369.8 million worth of SpaceX stock in the first three days of trading.
Oklahoma Insurance Commissioner Race: Sullivan, Quinn Advance to Runoff
The race for the next Oklahoma insurance commissioner narrowed on Tuesday, as Bob Sullivan and Marty Quinn advanced out of the Republican primary to an Aug. 25 runoff. Sullivan, a third-generation insurance professional, was the top vote-getter, receiving about 37% …
Strait of Hormuz threat level downgraded after Iran deal, says U.S.-led maritime security group
The behavior of Iranian forces "has become less volatile" and the U.S. Navy continues to provide oversight, the Joint Maritime Information Center said.
Target, Walmart and Amazon among brands losing LGBTQ+ consumer spending, new survey says
LGBTQ+ consumers are shifting spending toward companies they view as supporting DEI and away from those seen as retreating, HRC survey finds.
UniQure to seek FDA approval for Huntington's disease gene therapy after previous clash with agency
The announcement comes months after UniQure became embroiled in a public debate with FDA leaders over the clinical trial data supporting its application.
Less than one-third of global workers feel their jobs are safe, ADP survey data shows
Even with global unemployment at historically low levels, workers are not feeling secure.
SpaceX stock sinks 5%, losing momentum after a multiday rally
Elon Musk's space and AI company has seen its stock surge since its blockbuster IPO on Friday.
Amazon AI exec predicts first 'commercially useful' quantum computers in 5-7 years
Quantum computing is becoming an increasingly competitive field with tech giants like Microsoft, Google and IBM developing the technology.
Allbirds continues AI pivot with name change and CEO hire, sending stock soaring
Allbirds became NewBird AI in April and said it would trade shoes for AI compute infrastructure.
Trump sabotages Senate bid to fast-track Clayton as DNI, committee scuttles hearing
Any delay, and continuation of acting DNI Bill Pulte in the role, is likely to endanger the reauthorization of a key U.S. intelligence authority.
JetBlue to reduce Newark, LaGuardia footprint as it forges ahead in Fort Lauderdale
JetBlue is planning to cut crew bases at Newark Liberty International Airport in New Jersey and New York's LaGuardia Airport.
I inherited a $500,000 IRA. Can I reduce the tax burden by using it for my children’s education?
“I would like to use my share to help fund college for my three children.”
The paradox at the heart of credit markets: the biggest borrowers are the strongest credits
Credit-default swaps and credit spreads show no signs of stress despite more than $300 billion of issuance since the start of 2026. Investors know the AI story and are keen to absorb the supply.
Historic NBA Finals ratings and Fox’s $22 billion Roku deal show live sports are key to winning the streaming wars
“In this streaming-first world, live, shared moments are a rare thing. Sports is where that still exists.”
Gen Z’s ‘chicken before the egg’ credit problem: How to build your score when lenders keep saying no
Half of Gen Z-ers say they don’t have enough access to the credit they need to reach their financial goals
Goodbye, Allbirds. Hello ‘Smartbird’: Once-trendy sneaker maker’s bizarre transformation into an AI company becomes official.
Smartbird finalized the divestiture of its sneaker assets as the company eyes greener pastures in the AI-computing business.
Inside the push to weaken Washington’s toughest financial watchdog
The SEC used to intimidate corporate wrongdoers. Now its own commissioners are gutting its leverage.
A woman bought coasters at my garage sale for $2 — and emailed me that she’s reselling them for $29. Was I ripped off?
“They were a birthday gift from a friend about six years ago.”
High gas prices soak up more retail-sales dollars — and restaurants are paying the bill
Americans are spending more on gas and eating out less, a sign of stress on the economy tied to the conflict with Iran that’s forced consumers to shift more dollars to needs instead of wants.
The $124 trillion Great Wealth Transfer is real — but the IRS or a nursing home might get your family’s money first
From Medicaid cuts to an IRA tax trap, here are the real threats to your family’s inheritance and what to do about them.
An oil bull’s ‘insane’ bet: Why this veteran trader is buying energy stocks as crude prices tumble
Former institutional trader Kevin Muir pushes against the market tide with a call to buy oil now.
Read 14-Point Draft Memorandum of Understanding Between the US and Iran
The US and Iran are expected to formally sign a memorandum of understanding on June 19 in Switzerland, paving the way for 60 days of talks aimed at ending their war for good and putting strict new limits on Iran’s …
Jim Cramer's top 10 things to watch in the stock market Wednesday
Fed Chairman Kevin Warsh hold his first post-meeting press conference, and Broadcom gets an "aggressive" buy recommendation.
BMW stock slumps to 5-year low as Iran war and China slowdown spark profit warning
BMW blamed a slowdown in its Chinese market, as well as disruption from the Iran war, as two reasons for the slashed guidance.
CNBC to wade further into live sports with 11 simulcast WNBA games
The simulcasts will expose the WNBA to an affluent audience on CNBC and marks a new chapter for the business news network after it spun out from Comcast.
'Passive' investors who dodged bitcoin are now forced to own SpaceX, which is three times more volatile
Many advisors and money-managers invested in index funds who will soon be owners of Elon Musk's astronomic ambitions
Mortgage rates are now falling but demand is still weaker
A mixed week for mortgage rates resulted in less demand from both current homeowners and potential homebuyers.
Abercrombie & Fitch begins selling third-party shoe brands in latest bid to chase growth
Abercrombie & Fitch's explosive growth has slowed, leading the apparel retailer to expand into new categories to boost sales
Anthropic asked for regulation. Washington went much further
Anthropic has long been supportive of AI regulation, but the Trump administration is coming down particularly hard on the AI company.
CME Group's Terry Duffy to step down in 2027, CFO Lynne Fitzpatrick to become CEO
Duffy, 67, will transition to executive chairman effective March 1, 2027, the company said Wednesday.
Carvana’s new vehicle strategy turns dealership into ‘playground,’ test-drive center with sales all online
But don't expect Carvana to sell you a vehicle at one of its seven Stellantis stores, marking a stark contrast from typical franchised dealers.
Trump says U.S. will 'go right back to dropping bombs' if he doesn't like Iran deal
U.S. President Donald Trump said Wednesday at the G7 conference that the U.S. will "go right back to dropping bombs" if he doesn't like the Iran deal.
Texas Beef Industry Profits Eaten Away by Threat of Screwworm
James Henderson was a teenager in 1971 when he had to treat animals for a type of white maggot that ate livestock from the inside out — the New World screwworm. “It’s a horrible parasite, and it will eat that …
Washington Restaurants Ordered to Pay $750K in Back Wages
The U.S. Department of Labor has secured a federal consent judgment requiring four Washington-based restaurants to pay $750,000 in back wages and damages to 42 workers after an investigation uncovered minimum wage and overtime violations of the Fair Labor Standards …
Ohio Lawmakers Pass Bill to Combat Catalytic Converter Thefts
Ohio lawmakers this month passed a bill that aims to protect consumers from catalytic converter theft. House Bill 210 creates more transparent guidelines for businesses, including requiring scrap dealers and other buyers of used catalytic converters to comply with recordkeeping, …
NTSB: North Dakota Derailment Proves the Need to Replace Flawed Tank Cars
A fiery North Dakota derailment that happened two years ago demonstrated yet again why the National Transportation Safety Board has been urging the rail industry for decades to replace flawed tank cars that tend to rupture in a crash. The …
Drones Banned from Flying Over Dallas Stadium During World Cup Matches
When England takes on Croatia Wednesday in the group stage of the FIFA World Cup, the area surrounding AT&T Stadium in Arlington, Texas will be conspicuously absent of any aircraft. That’s because the Federal Aviation Administration (FAA) has issued a …
DOJ Accuses UC Davis School of Medicine of Racial Discrimination in Admissions
The Justice Department’s Civil Rights Division announced last week that it found the University of California, Davis School of Medicine (Davis Med) discriminates based on race in its admissions process, violating a 2023 U.S. Supreme Court decision. The Justice Department …
Asia Reports Sharp Rise in Cybercrimes and Scams, Interpol Says
Illegal cyber activities accounted for around a third of all crimes recorded in some Asian countries, with scams the most widespread and financially damaging, according to a new Interpol report. The global policing agency’s latest cyber threat cyber threat assessment …
Older, Wealthier Renters Drive Changes in Insurance Needs
As the demographic of the average American renter changes, so too do their insurance needs. Renters today tend to be older with higher incomes and stronger credit profiles, and they often remain at the same address for several years, according …
Viewpoint: The Upcoming World Cup and Injury Risk
This summer, global sport’s biggest event is coming to America. Part of what makes the World Cup so special is the storylines attached to the once-in-four-year event. This year’s tournament will likely be the last chapter in professional sport’s greatest …
Higher ed funding for California veterans is under threat. How a $12 billion bond could help
A program that lets veterans trade fatigues for a lab coat took a hit when federal officials tried freezing millions in grant dollars. It sparked support for a legislative fix.
Some California schools get three times more funding than others. Here’s why
School funding in California steers a lot to wealthy districts and to those with high-needs students. Those in the middle get a lot less.
As ballot deadline nears, will California’s billionaire tax actually go to voters?
The November election will have an array of money-driven ballot measures clustered around one question: Who should be taxed to finance California’s public services, and how much should they pay?
He spent 19 years in isolation on death row. Then the handcuffs came off
Gov. Gavin Newsom gave condemned prisoners a chance to live differently when he suspended the death penalty. They aren't free and many will never be released, but now they have opportunities to grow.
The city that said no to data centers
As proponents of artificial intelligence insist that the AI future is inevitable, one California city is pushing back. It might not be the last. Earlier this month, residents in Los Angeles County’s Monterey Park overwhelmingly voted to permanently ban data centers in the city, becoming the first city in the U.S. to do so. The […]
Second Firefighter Dies From Injuries at Maine Lumber Mill Explosion
A second firefighter has died from injuries suffered while fighting a fire and explosion at a Maine lumber mill last month. The May 15 fire at Robbins Lumber in Searsmont sent plumes of black smoke into the sky and necessitated …
To Carriers’ Relief: New Florida Rule Won’t Count Mediation Requests as Complaints
At long last, Florida property insurers may be thinking, state regulators have revised a consumer complaint tabulation methodology that many had criticized as skewed, unrealistic and out of line with most other states. Under Rule 69O-138.003, published last week, the …
Evergrande Liquidators Seek to Quash Regulator’s PwC HK Deal
China Evergrande’s liquidators have asked a court to void a HK$1 billion ($127.6 million) shareholder compensation deal a regulator struck with PricewaterhouseCoopers’ Hong Kong affiliate. The fund was part of an agreement with Hong Kong’s Securities and Futures Commission in …
Appetite for Insurance M&A Remains as AI Enters the Chat, Says PwC
Appetite from insurance mergers and acquisitions remains, but the industry’s use of artificial intelligence is expected to enter the equation to affect strategies. According to finding from PwC, the insurance sector logged about $29.6 billion in deal value from 191 …
Hacking Group Claims Major Hack of Novo Nordisk and Attempted $25M Extortion
A cyber extortion group claimed on Tuesday to have stolen more than a terabyte of data from pharmaceutical giant Novo Nordisk and said it is exploring selling parts of the data after unsuccessfully demanding $25 million from the company. FulcrumSec, …
Three Iranian tankers exit U.S. blockade for first time in months as shipowners eye Hormuz in 'wary disbelief'
At least three Iranian tankers carrying nearly five million barrels of crude oil have exited the U.S. Navy blockade.
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