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Washington Man Charged With Starting Devastating Spokane Fire
A 37-year-old Washington State man has been arrested and charged with arson in connection with one of the wildfires that is devastating Spokane, the County Sheriff’s Office said in a statement. Aaron Farinacci, of Spokane, was taken into custody at …
POSTED AUGUST 04, 2026 1:27 PM |
Goldman Sachs, Talcott Launch $1 Billion Bermuda Reinsurance Sidecar
Talcott Financial Group and Goldman Sachs have launched a Bermuda-domiciled reinsurance sidecar West Grove Re, the life insurance provider said on Tuesday, which has so far raised $1 billion. The capital raise includes a credit facility and equity commitments from …
POSTED AUGUST 04, 2026 1:12 PM |
NYC Mayor Mamdani’s Rent Freeze Heaps Pressure on a Teetering CMBS Deal
A $506 million bet on thousands of New York rent-stabilized apartments has already soured for bond investors. Mayor Zohran Mamdani’s rent freeze threatens to make it worse. The commercial-property bond, backed by the mortgage on 53 buildings across Queens, Brooklyn, …
POSTED AUGUST 04, 2026 12:40 PM |
Hormuz Traffic at a Trickle as Ship Attacks Heighten Concerns
Observable traffic transiting the Strait of Hormuz remained at a trickle as attacks on vessels and Iranian threats heightened safety concerns for shipowners and crews considering a trip through the waterway. Shipping activity was subdued on Tuesday after six smaller …
POSTED AUGUST 04, 2026 10:32 AM |
China Signals Nation Is Ready to Lead Global Climate Action
China signaled it plans to take a more important role in steering the global campaign to tackle climate change, as officials offered further details on strategy to mitigate and adapt to rising temperatures. The nation “will constructively lead the multilateral …
POSTED AUGUST 04, 2026 9:56 AM |
Rhine Falls to Lowest Since 1880, Threatening European Trade
The Rhine River’s water levels dropped to the lowest in nearly 150 years as hot, dry weather grips Europe, threatening to disrupt a crucial route for transporting coal, fuel and industrial commodities across a large swath of the continent. The …
POSTED AUGUST 04, 2026 9:26 AM |
Britain Says it Is Open to AI Regulation if Voluntary Safeguards Fall Short
Britain would consider regulating advanced AI models if its current voluntary system for testing them before deployment no longer proved sufficient to protect the public, AI Minister Kanishka Narayan told Reuters. Britain has favored a light-touch approach to AI regulation, …
POSTED AUGUST 04, 2026 9:01 AM |
Europe’s Wildfire Season Exposes Climate Insurance Protection Gap
Domestic insurers are expected to absorb most of the losses from Europe’s worst wildfire season in recent history, but the blazes are also raising a bigger question: who will pay as climate-driven disasters become more frequent and destructive? Authorities have …
POSTED AUGUST 04, 2026 8:51 AM |
UBS Fined $125M by US Regulators for Money Laundering Violations
UBS was fined $125 million by U.S. regulators on Aug. 3 for violating the Bank Secrecy Act, the largest civil fine ever against a broker-dealer for violating the main U.S. anti-money laundering law. The U.S. Department of the Treasury’s Financial …
POSTED AUGUST 04, 2026 5:14 AM |
Product-Defect Presumption Lives On: Florida Appeals Court Upholds $103M vs. Ford
A Florida appeals court has upheld a $103 million jury award against Ford Motor Co. after a modified Ford Mustang exploded in 2017, leaving the owner with severe burns over much of his body, and the loss of his hands. …
POSTED AUGUST 04, 2026 5:01 AM |
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