INSURANCE NEWS
TikTok Fined €530 Million for Illegally Sending EU Data to China
TikTok owner ByteDance Ltd. was fined €530 million ($600 million) by the European Union for illegally sending user data to China, and warned that it didn’t do enough to keep that information out of reach from Chinese state services. Ireland’s …
UK Minister Tells Businesses to ‘Wake Up’ After Marks & Spencer Hack
A senior UK minister [this week] will warn businesses to protect themselves against cyber threats after a spate of attacks on retailers including Marks & Spencer Group Plc. “These attacks need to be a wake-up call for every business in …
UK Grocer Co-op Says Hackers Obtained Customer Data
The UK supermarket chain Co-op said hackers were able to access and extract customer data from one of its systems during a recent cyberattack. “The accessed data included information relating to a significant number of our current and past members,” …
Judge Allows Testimony That Abbott, Mead Johnson Baby Formula Caused Disease
A federal judge on said she will allow expert testimony that formula made by Abbott Laboratories and Reckitt Benckiser subsidiary Mead Johnson for premature babies can cause a fatal intestinal illness, as the companies face hundreds of lawsuits over the …
US Opens Probes After Army Helicopter Forces 2 DC Flights to Abort Landings
Federal investigators have launched a probe after two flights aborted landings at Reagan Washington National Airport on Thursday because a U.S. Army Black Hawk helicopter too close. The Federal Aviation Administration said on Friday that air traffic control told Delta …
Second Person Charged With Arson in New Jersey Pine Barrens Fire
A second person has been charged with arson in the wildfire in New Jersey’s Pine Barrens that has grown into the state’s second-largest fire in nearly two decades. Prosecutors said Friday that a 17-year-old was arrested and charged with arson, …
‘Sensitive’ Security Report Into Arson at Governor’s Mansion Won’t Be Made Public
A consultant paid to review security at the official residence of Pennsylvania Gov. Josh Shapiro after it was firebombed by a late-night intruder said Friday that his team’s findings will not be made public. Retired state police Col. Jeffrey Miller …
Berkshire’s Geico Has Cut Thousands of Jobs in Turnaround Effort
Berkshire Hathaway said its auto insurer Geico has cut tens of thousands of jobs as part of its efforts to turn around a business that’s lagged behind peers. Berkshire’s Vice Chair of Insurance Operations Ajit Jain said Geico reduced the …
Buffett to Step Down Following Six-Decade Run Atop Berkshire
Warren Buffett, who built Berkshire Hathaway Inc. into a business valued at more than $1.16 trillion and himself into a celebrity billionaire renowned for his investing acumen and witticisms, will step down at year-end after six decades atop the conglomerate. …
Hawaii Lawmakers Pass HECO Bill to Invest in Wildfire Mitigation
Hawaii lawmakers this week passed a bill intended to help shore up Hawaiian Electric Co.’s credit rating despite strong opposition from House and Senate committee chairs who helped vet the measure. The bill would impose a new fee on HECO …
Lawmakers in 3 States Want to Roll Back Paid Sick Leave Benefits
Voters in Alaska, Missouri and Nebraska were asked last year whether they wanted to require employers to provide paid sick leave to their workers. They overwhelmingly said yes. Now some lawmakers in each of those states are trying to roll …
Texas Mutual Approves $330M General Dividend Distribution
Texas Mutual Insurance Company announced that its board of directors voted unanimously to approve a $330 million general dividend distribution in 2025. Texas Mutual, the state’s top provider of workers’ compensation insurance will have distributed more than $1 billion in …