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Musk Agrees to Pay $1.5 Million Over SEC Twitter Stake Case
Elon Musk agreed to pay $1.5 million to settle Securities and Exchange Commission allegations that he cheated Twitter shareholders in 2022 by failing to properly disclose his growing stake in the social media company. An Elon Musk revocable trust would …
POSTED MAY 06, 2026 12:21 PM |
Insurance Distribution Associations Unite to Form New Industry Advisory Council
ACORD, the global standards-setting body for the insurance industry, announced the formation of the ACORD Inter-Association Advisory Council (IAAC). IAAC is a coalition of North American property/casualty associations representing independent agents, brokers, and intermediaries across the North American distribution channel. …
POSTED MAY 06, 2026 12:01 PM |
Spanberger Weighs Legislation to Allow Class Action Lawsuits in Virginia Courts
Gov. Abigail Spanberger is weighing whether to sign or veto legislation that would, for the first time, allow Virginians to file class action lawsuits in state courts — a shift advocates say would expand access to justice, but one that …
POSTED MAY 06, 2026 11:36 AM |
Specialty Insurance Rates Soften Faster Than Expected, Hitting 2020 Price Levels: WTW
Specialty insurance market rates declined in 2025 and during the January 1, 2026 renewals, with the pace of change exceeding expectations, according to WTW’s Specialty Insurance Marketplace Survey (SIMS). Data from the January 1 renewals and new business point to …
POSTED MAY 06, 2026 10:24 AM |
Volkswagen’s Brazil Unit Recalls Five Models for Instrument Panel Software Fix
Volkswagen’s Brazilian unit announced on Monday [May 4] a recall of five models manufactured up to five years ago for a software inspection and potential update to fix a malfunction in the instrument cluster. The recall includes the Polo, Virtus, …
POSTED MAY 06, 2026 9:05 AM |
Fatal 2022 China Plane Crash Points to Midflight Fuel Cutoff
The China Eastern Airlines Corp. jetliner that plummeted into a hillside in 2022, killing all 132 people on board, had its fuel supply cut during the flight, newly released investigative material shows, supporting the theory that the aircraft was intentionally …
POSTED MAY 06, 2026 8:42 AM |
Crew Rescued After Cargo Ship Sinks Off Greece, Coast Guard Says
Greece has rescued all nine crew members, eight Turkish and one Azerbaijani, of a cargo ship that hit rocks and sank off the island of Andros early on Wednesday, a Greek coast guard official said. The Vanuatu-flagged freighter had left …
POSTED MAY 06, 2026 8:03 AM |
Trump Administration Seeks to Stop Minnesota Lawsuit Against Oil Companies
President Donald Trump’s administration moved Monday to block a lawsuit Minnesota officials filed almost six years ago alleging oil companies and a petroleum trade group deceived state residents about climate change. The U.S. Department of Justice, the administration’s law enforcement …
POSTED MAY 06, 2026 8:00 AM |
Trump Pauses Effort to Escort Ships in Strait of Hormuz, Citing Deal Progress
U.S. President Donald Trump said on Tuesday he would briefly pause an operation to help escort ships through the Strait of Hormuz, citing “great progress” toward a comprehensive agreement with Iran. Hours earlier, U.S. Secretary of State Marco Rubio had …
POSTED MAY 06, 2026 7:56 AM |
FSB Watchdog Flags Risks in Banks’ Growing Private Credit Ties
The fast-growing private credit industry’s deepening links with traditional banks and asset managers create risks to the global financial system, the global Financial Stability Board watchdog said on Wednesday, warning some broader measures showed upwards trends of defaults. Signs of …
POSTED MAY 06, 2026 7:02 AM |
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