Farmers Insurance said it will stop offering its policies in Florida, including for home and car insurance, in a change that will force tens of thousands of people to switch to a different insurance company. In a statement, Farmers Insurance said it made the decision to manage its exposure to risk in Florida, a state…
Owners of Some 2003 Ram Pickups Urged to Not Drive Them After Another Takata Air Bag Inflator Death
Stellanis is urging owners of unrepaired 2003 Dodge Ram 1500 pickups to stop driving the vehicles immediately until they are serviced, following another rupture fatality involving a defective Takata airbag inflator. The incident in May is the first reported for the model involving a Takata passenger-side bag, the National Highway Traffic Safety Administration (NHTSA) said…
Disney Expands Financial Plan to Grow Theme Parks in California Amid Feud with Florida Governor Ron DeSantis
July 12, 2023
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The Walt Disney Company is expanding its financial plans to renovate and redevelop its California theme parks amid Disney’s CEO Bob Iger’s feud with Florida Governor Ron DeSantis. The move comes after Iger in May aborted plans to build a $900 million office campus that would have seen 2,000 employees relocated from California to Central Florida. Disney’s…
Wall Street Opens Higher as Inflation Cools in June
Wall Street’s main indexes opened higher on Wednesday after data showed inflation cooled further in June, lifting investor hopes that the Federal Reserve is nearing the end of its monetary tightening cycle. The Dow Jones Industrial Average rose 133.86 points, or 0.39 percent, at the open to 34,395.28. The S&P 500 opened higher by 28.43…
Hackers Steal Personal Data of 11 Million People From HCA Healthcare
July 12, 2023
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HCA Healthcare, one of the largest companies in the United States, announced on Monday that hackers breached its system and stole the personal data of 11 million patients. In its announcement, the company said the patient accounts were posted by an unknown and unauthorized party on an online forum. The health care company’s dataset has approximately…
MyPillow’s Mike Lindell Says Company Lost $100 Million Owing to Cancel Culture
MyPillow CEO Mike Lindell says he has been the victim of cancel culture after multiple major retailers pulled his company’s products off their shelves, leaving him millions of dollars out of pocket. Speaking to the Star Tribune, Mr. Lindell, who has been a vocal supporter of former President Donald Trump and has disputed the results of the 2020…
UK Banks Can Withstand Deep Recession: Bank of England
The UK banking system would be able to withstand a severe economic turbulence, deeper than the 2008 financial crisis, a report by the Bank of England (BoE) has claimed. The stress test performed by the BoE will likely appease British businesses and households who are concerned with the rising interest rates and high inflation. The…
Dollar Hits 2-month Low Before US Inflation Data
July 12, 2023
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LONDON—Bets on a screeching slowdown in U.S. inflation data later saw traders shove the dollar to a 2-month low on Wednesday and push stocks up and bond market borrowing costs down for a third day running. Economists polled by Reuters expect to see June U.S. consumer price inflation slow to 3.1 percent from 4 percent…
Businesses at Risk as Record High Default Rates Raise Alarm Bells
More and more Australian businesses are facing insolvency risk as trade payment defaults reached a record high in June due to the impacts of inflation and interest rate hikes. According to a new report by CreditorWatch, a credit reporting agency, business-to-business trade payment defaults rose to 1,586 cases in June, up 52 percent from a…
WeChat Warned It Could Be Banned After Refusing to Appear at Government Inquiry
July 12, 2023
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WeChat is facing a potential ban in Australia after the company refused to appear before a federal government inquiry into foreign interference. The chair of the Select Committee on Foreign Interference through Social Media, Sen. James Paterson, said in a press conference on July 11 that the refusal showed how little regard WeChat and its parent company…
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