A losing streak in litigation finance is attracting hedge funds and other alternative investment managers looking to invest in legal claims at distressed valuations, according to people familiar with the matter. Firms working in distressed-debt special situations including Davidson Kempner …

South Korea strongly condemned what it described as an attack on a civilian cargo vessel in the Strait of Hormuz after a government investigation found the ship was struck by unidentified objects, though it stopped short of assigning blame. “Attacks …

Geolocation data for some ships in the Persian Gulf showed locations and speeds that defied logic, pointing to an increase in signal interference following fresh attacks by Iran on neighboring countries. The tracking data showed about 120 vessels in a …

Markel Insurance Appoints Da Costa to Lead U.S. Cyber and Tech E&O Portfolio Markel, the insurance operations within Markel Group Inc., appointed Raphael Da Costa to lead its U.S. cyber and tech E&O portfolio. Da Costa oversees Markel’s U.S. cyber …

Thirty former Ohio State football players, including some former NFL players, have agreed to join a federal lawsuit against the university over the sexual abuse of student athletes decades ago by a team doctor, a lawyer in the case said …

No injuries were reported after an explosion and a fire at a refinery in the New Orleans area on Friday, officials said. Residents near Chalmette Refining said they heard an explosion at around 1 p.m. The refinery is in Chalmette, …

Banking groups are floating last-minute changes to a compromise on stablecoin yield as a key Senate panel begins considering a landmark digital asset bill. The proposed changes would tweak the compromise brokered by Senators Thom Tillis, a Republican, and Angela …

Disruptions for college students are set to drag into the weekend after hackers briefly took down an online platform used by thousands of schools around the world, from Princeton University in the US to the University of Manchester in the …

Nike was sued on May 8 by consumers who accused the athletic apparel and footwear maker of not refunding tariff-related costs it passed on in the form of higher prices. In a proposed class action, consumers said Nike should not …

As storm chaser Ashton Lemley picked his way through a tornado-ravaged Mississippi trailer park, he heard the unmistakable meow of a kitten pierce the predawn darkness. The homes were flattened just hours earlier as storms spawned at least three tornadoes …

Safepoint Insurance on May 8 filed its paperwork for a U.S. initial public offering, disclosing a 96.9% revenue jump last year as a strong run of new IPO listings from Florida-based insurers extends into 2026. The company reported a net …

California Gov. Gavin Newsom is asking the federal government extend disaster assistance programs for thousands of victims of the January 2025 Los Angeles wildfires who are still working to rebuild. Newsom is requesting a 12-month extension of the Federal Emergency …

Following the recommendation of the Senate Executive Nominations Committee, the full Maryland Senate has confirmed the appointments of four members to the Maryland Automobile Insurance Fund Board of Trustees. Steven D. Linkous was reappointed to serve the remainder of a …

Affordable American Insurance LLC named Eddie Floyd to AAI’s leadership team as president of its retail agency division. Floyd will help lead the organization’s growth while overseeing the performance and expansion of its internal agency platform. Floyd has more than …

A new University of Vermont extreme weather monitoring station opened in Lyndonville on Tuesday, the first in a planned network of monitoring stations to help fill gaps in extreme weather predictions and response. The station will be able to monitor …

Fertilizer makers are seeing a windfall from Iran’s war, highlighting the impact of the conflict’s upheaval on supply chains for the key crop nutrients. CF Industries Holdings Inc. and Nutrien Ltd. each reported nearly 20% jumps in sales for the …

Novatae Risk Group, the wholesale insurance business of World Insurance Associates, announced that Brian Voorhees will be joining the company as its new managing director of personal lines. In this role, Voorhees will lead Novatae’s personal lines with responsibility for …

The National Highway Traffic Safety Administration said Friday it is opening an investigation in a series of crashes of start-up Avride autonomous vehicles that raised questions about the competency of the vehicles. NHTSA said the vehicles’ performance may indicate inappropriate …

Florida’s governor has signed House Bill 803 into law, dropping building permit requirements for construction work valued at $7,500 or less. The law takes effect July 1. “A local government that issues building permits shall exempt an owner of a …

The Strait of Hormuz remains effectively closed to commercial shipping after the US and Iran clashed overnight near the waterway, attacking each other’s assets in the area. US forces targeted missile and drone launch sites and other military assets in …