Warren Buffett and Berkshire Hathaway's top insurance executive warned this year about the potential for massive losses from cyber insurance policies. The CrowdStrike-caused global IT outage will be a key test for cyber insurance underwriters, with Fitch Ratings expressing confidence that losses will not exceed $10 billion. Other cyber policy...

CrowdStrike losses may be biggest test yet of cybersecurity insurance risk warning from Warren Buffett

(Reuters) - The global insurance and reinsurance industry is likely to avoid any major financial impact from the outage sparked by CrowdStrike (NASDAQ:CRWD)'s glitchy security software update that disrupted internet services worldwide last week, Fitch Ratings said. Preliminary estimates suggest that insured losses could be in the range of mid-to-high...

Insurers to see limited hit from CrowdStrike disruption, Fitch says

Axios

One in 4 Fortune 500 companies experienced a service disruption due to Friday's global IT outages and likely lost a combined $5.4 billion, according to a new report from cyber insurer Parametrix. Why it matters: The report provides some of the first estimates on how damaging the recent CrowdStrikes outages...

Fortune 500 lost an estimated $5.4B in CrowdStrike outage

Reuters

LONDON (Reuters) - U.S. Fortune 500 companies, excluding Microsoft, will face $5.4 billion in financial losses from the recent CrowdStrike outage, insurer Parametrix said on Wednesday.

Fortune 500 firms to see $5.4 billion in CrowdStrike losses, says insurer Parametrix

Lancaster County, PA

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NewsByJoshua

Fans of Frisco's Chicken were left reeling as the beloved Peruvian-style eatery announced the closure of all its locations in Lancaster County, Pennsylvania. The chain, known for its delicious food and strong community values, posted a heartfelt note on its doors, informing customers of the devastating news.

Favorite Chicken Chain Suddenly Closes All Stores, Heartfelt Message Found on Doors

Shares of Nvidia (NASDAQ:NVDA) fell by more than 3% Wednesday after Tesla (NASDAQ:TSLA) CEO Elon Musk told investors on the company's earnings call after the close on Tuesday that they are "going to double down on Dojo," its supercomputer. Dojo is a supercomputer designed by the electric vehicle giant for...

Tesla's Musk says Dojo will be competitive, analyst says Dojo still 10 years away

Virginia State

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Anchorage, AK

Cheryl E Preston

Daily Express reports that Roger Allan Holmberg Sr., a Virginia pastor, has been accused of hitting his wife while on an Alaskan Airlines flight from Seatle to Anchorage. Holberg allegedly verbally and physically abused his wife, who said she has epilepsy, and her husband hit her in the head, knowing it could cause a seizure.

Virginia pastor facing federal charges after he allegedly hit his wife on an Alaskan Airlines flight

MILAN (Reuters) - Stellantis (NYSE:STLA) is taking steps to fix weak margins and high inventory at its U.S. operations and will not hesitate to axe underperforming brands in its sprawling portfolio, its chief executive Carlos Tavares said on Thursday. The warning for lossmaking brands is a turnaround for Tavares, who...

Stellantis ready to axe brands and fix US problems, CEO says

Ronkonkoma, NY

The New York Post reveals that two men who died in a plane crash at MacArthur Airport were from Virginia. The men had been visiting friends in Long Island and were returning home when the tragedy occurred.

Life partners from Virginia have been identified as the victims of a New York plane crash

LONDON (Reuters) - Financial technology firm Revolut has received a UK banking licence with some restrictions, it said on Thursday, ending a three-year wait for the authorisation and removing regulatory uncertainty that had held back its ambitions in Britain. London-based Revolut is one of a handful of financial services apps...

Revolut Gets UK Banking Licence After Three-Year Wait

Overdue credit card bills are the highest they’ve been since the Federal Reserve Bank of Philadelphia started keeping track in 2012. The proportion of card balances that were more than 60 days past due, making them delinquent, topped 2.5% in the first three months of the year, according to a report published Wednesday. That’s more than double the lows seen in the third quarter of 2021, as pandemic-era federal stimulus money helped borrowers pay off their balances in full.

Overdue credit card balances hit their highest level in more than a decade

California State

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The HD Post

CALIFORNIA – Plaintiffs, in a case against Wells Fargo alleging that the bank knowingly took part in a marketing scam, asked the court, July 8, not to grant a motion for summary judgment.

Class action lawsuit says Wells Fargo customers lost over $160 Million

LONDON (Reuters) - Problems in the highly competitive U.S. car market ranging from weak prices to high inventories and difficult logistics dented profits and hit shares of automakers Stellantis (NYSE:STLA) and Nissan (OTC:NSANY) on Thursday, as they scramble to find a fix. Shares in Milan-listed Stellantis were down 8% by...

US car market gives Stellantis, Nissan a rough ride

(Reuters) - Equipment rental firm United Rentals posted a 7.6% rise in second-quarter profit on Wednesday, backed by robust demand for industrial tools and higher rental rates.

United Rentals posts higher second-quarter profit on equipment demand

In Virginia, Drinking in public or offering another person alcohol in a public space is prohibited. This is a class 4 Misdemeanor punishable by a fine of up to $250.00. Under a new law that goes into effect on July 1, this will change to a degree.WDBJ7 reports that the prohibition on drinking or offering an alcoholic beverage to someone else in public will no longer apply under the following conditions.

Drinking in public will no longer be prohibited on private Campgrounds in Virginia beginning July 1

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

If you’ve been following the electric vehicle (EV) scene, you might have heard some concerning news about SK On, the South Korean battery manufacturer. They’ve hit a bit of a rough patch due to lower-than-expected sales of electric vehicles in key markets like Europe and the U.S. Let's dive into what’s going on and why it matters.

Battery Manufacturer Declares Urgency Due to Low EV Sales, Says Financial Times

Illinois State

MOD Pizza has over 500 locations across the country with 22 restaurants in Illinois. The Washington-based chain offers fast-casual fare known for its customized, artisan-style pizzas. Customers can choose from over 40 toppings and 8 sauces to create their own masterpiece.

Bankruptcy Looms for Major Pizza Chain With Chicago Suburban Locations

Alaska State

Williamsburg, VA

Last week Roger Allan Holmberg Sr.made the news because of a disturbance on an Alaskan airline flight. 13 News Now said a social media page indicated the pastor and his wife Patty had moved to Williamsburg, Virginia in November, 2023.

Virginia pastor banned from Alaskan airline after assault charges are filed

On Tuesday, Evercore ISI adjusted its financial outlook for United Parcel Service (NYSE:UPS), reducing the price target to $138 from $145 while maintaining an In Line rating for the company's stock. This adjustment comes in the wake of UPS's second-quarter earnings for 2024, which fell short of expectations. The logistics giant reported an adjusted earnings per share (EPS) of $1.79, which was below Evercore ISI's prediction of $1.94 and the consensus estimate of $1.99. The company's performance was affected by a challenging mix of products that pressured yields and margins.

Evercore cuts UPS price target to $138 from $145

NewsBreak

CrowdStrike-linked IT outage could result in $1.5 billion in insured losses: report

Global insured losses from last week's significant IT outage are projected to be between $400 million and $1.5 billion, according to cyber analytics firm CyberCube. The...

CrowdStrike-linked IT outage could result in $1.5 billion in insured losses: report

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