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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, …

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 …

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 …

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 …

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, …

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 …

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 …

A Florida appeals court has upheld a $103 million jury award against Ford Motor Co. after a modified Ford Mustang exploded in 2017 and left the owner with severe burns over much of his body. The appeal was centered on …

The New Jersey Department of Labor and Workforce Development (NJDOL) has reached a $2.7 million settlement with STG Logistics, Inc. and subsidiaries resolving allegations that the shipping and logistics companies misclassified hundreds of truck drivers as independent contractors in violation …

California’s highest court ruled on Monday that manufacturers of drugs that are considered safe do not owe a duty to patients to try developing drugs that could be even safer, ruling in favor of Gilead Sciences in the closely watched …

Specialty insurance platform DOXA announced it has acquired LimitFi, a platform for capital and credit-risk insurance products. Connecticut-based LimitFi specializes in default-risk transfer and alternative credit products including non-payment insurance. The platform connects banks and lenders seeking capital relief and …

Farmers Insurance filed an upgraded business insurance rating plan to expand commercial insurance coverage for business owners across the state and a rate hike of 15%. The plan, which incorporates elements from the Sustainable Insurance Strategy, includes coverage in in …

Dallas Barber and Stylist College, Inc., which operates multiple barber and hair styling locations and instructional campuses in the Dallas metropolitan area, will pay significant monetary damages and provide other relief to settle a pregnancy discrimination lawsuit filed by the …

Insurers are turning to catastrophe bonds to pass on historic levels of wildfire risk to the capital markets. Issuance of cat bonds that include exposure to wildfires has already soared to more than $5 billion so far this year, according …

Two people have died in Michigan from the severe diarrhea-causing parasite that has sickened thousands across the US, according to the Centers for Disease Control and Prevention. Both had underlying health conditions, the agency said in a statement Monday. The …

Michigan on Saturday joined Minnesota in reporting cyberattacks on nine of the state’s water systems but an official said all systems were operating “safely.” Earlier this week, authorities said cyberattacks targeted over 30 water systems in Minnesota. The source of …

The U.S. agency that enforces laws banning workplace discrimination moved to scrap a requirement that employers annually submit data on the race and sex of their workers, which since its adoption in the 1960s has been a cornerstone of civil …

Hackers have found a software flaw in a brand of “cold” Bitcoin wallet — considered one of the safest places to store cryptocurrency — and are siphoning tens of millions of dollars in an ongoing attack. Late last week, Canada-based …

South Korea’s Personal Information Protection Commission has fined telecoms company KT Corp. 54 billion won ($37.43 million) for a leak of customer personal information, the commission said on Thursday [July 30]. Hackers stole more than 16,600 KT mobile service customers’ …

The National Highway Traffic Safety Administration said on Aug. 3 that some older Ford cars and SUVs pose unreasonable safety risks because the timing belt may fail and cause them to lose power or engines to seize. The U.S. auto …