Author: completebodyneeds

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 on civilian vessels such as HMM Namu cannot be justified or tolerated,” presidential security adviser Wi Sung-lac told reporters Monday. “We’ll seek through further investigation to identify the party responsible for the attack, the exact type of projectile and its physical size.” Wi said South Korea would decide on its response once further analysis identifies the attacker and the type…

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 Capital Management LP and Attestor are looking to buy up such assets at valuations as low as 10 cents on the dollar, the people said, asking not to be identified discussing private deals. In some cases, buyers are taking on distressed assets for free, and agreeing to pay the seller a small amount if the underlying lawsuit wins. Litigation finance…

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 Management Agency’s Individuals and Households Program which provides financial and housing assistance to disaster survivors. The extension would allow eligible survivors to continue receiving support through July 9, 2027. According to the California Office of Emergency Services, nearly 29,500 households that may be eligible for that assistance were still in the middle of insurance claims, and nearly 1,000 households are…

Safepoint Insurance on Friday 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 income of $165.6 million on revenue of $516.3 million for the year ended December 31, compared with a net income of $24.3 million on revenue of $262.2 million in 2024. A series of legislative reforms introduced in 2022 have significantly improved the property insurance landscape in Florida, a market where some large national insurers have trimmed their exposure due to frequent…

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 circle about an hour’s drive inland from Abu Dhabi in the United Arab Emirates, signaling they’re traveling at nearly 50 knots but without changes to their location. A smaller gathering of about a dozen ships was indicating speeds of more than 100 knots near the Omani-UAE land border. The appearance of such clusters inland, and at improbable speeds, is probably…

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 across the bottom half of Mississippi, injuring a dozen at the trailer park in the rural community of Bogue Chitto. Lemley had no idea where the kitten was, but he was determined to find it. After a few minutes, the meowing stopped, and Lemley feared the worst. Then, five minutes later, he heard it again. “I said, ‘Oh, he’s still…

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 be allowed to keep “significant” refunds it can expect after the U.S. Supreme Court in February struck down sweeping tariffs that President Donald Trump imposed under the International Emergency Economic Powers Act. The Beaverton, Oregon-based company has said it paid about $1 billion in tariffs on imported goods as a result of Trump’s actions. Consumers said Nike raised prices on…

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 Thursday. The lawyer, Rocky Ratliff, said in an interview that the men came forward some eight years after the first lawsuit was filed because they needed to overcome the shame of revealing that they’d been sexually abused by another man and the fear of taking on the university publicly. They are “tearful and living with it,” Ratliff said. “But as…

Markel Insurance Appoints Da Costa to Lead U.S. Cyber and Tech E&O Portfolio Raphael Da Costa 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 and tech E&O underwriting strategy, portfolio management and product development. He’ll work closely with underwriting, claims and actuarial to support disciplined growth and deliver solutions aligned with the shifting cyber risk environment. Da Costa has over 15 years of experience driving innovation in the cybersecurity and insurance sectors. He joined Markel in 2023 and most recently led…

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, located about 10 miles (16 kilometers) east of New Orleans. Chalmette Refining said in a post on social media that a fire broke out at an operating unit. The St. Bernard Fire Department worked with refinery personnel to bring the blaze under control. “Everyone working in the area is safe and accounted for,” the company said. “The cause of the…