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☆ Sabrina Carpenter may have dropped this year's summer bop with 'Espresso.' Here's how valuable a summer hit can be.
▼ + stars: | 2024-04-14 | by ( Katie Balevic | Lauren Edmonds | ) www.businessinsider.com time to read: +6 min

Sabrina Carpenter just dropped "Espresso," which is already topping the charts. With her new song "Espresso," the pop star may have just dropped this year's summertime hit. Cyrus' 2023 single "Flowers" breathed new life into her career after a rocky public personaMiley Cyrus performs at the 2024 Grammys. Like Carpenter, Cyrus was a Disney child star who amassed international fame with "Hannah Montana." So with "Espresso," Carpenter has a chance to catapult herself onto the big stage and secure her place as a bonafide star.

Persons: Sabrina Carpenter, —, Taylor, Barry Keoghan, She's, Carpenter, Theo Wargo, Sabrina Carpenter's, Morgan Wallen's, Harry Styles, Olivia Rodrigo, Miley Cyrus, SZA, Cyrus, Amy Sussman, cushioned Cyrus, Forbes, Vijat, Hannah Montana, Pharrell Williams, Cowboy Carter, Armando L, Sanchez, Bill, Timothy Norris, J, Cole, Nicki Minaj Organizations: Service, Coachella, Spotify's, Spotify, Apple, NBC, Getty, Chicago Tribune, Tribune, Billboard, iHeart Locations: Disney

☆ FTX's victims may get all their money back. The judge sentencing Sam Bankman-Fried might not care.
▼ + stars: | 2024-03-24 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +12 min

Sam Bankman-Fried bilked FTX customers out of over $8 billion, according to prosecutors. AdvertisementAccording to federal prosecutors, Sam Bankman-Fried orchestrated one of the biggest criminal frauds in the history of the world. According to his lawyers, FTX's customers might get all their money back. According to prosecutors, Bankman-Fried was responsible for more than $11 billion in fraud overall between FTX customers and investors in FTX and Alameda Research. The recovered calculations, too, distort how much money customers are actually getting back.

Persons: Sam Bankman, —, Fried, FTX, John J, Ray III, Ray, Lewis Kaplan, Kaplan, Sarah Krissoff, Cozen O'Connor, Krissoff, it's, Sarah Silbiger, Bankman, bitcoin, Rachel Maimin, Lowenstein Sandler, Barbara Fried, Mark Cohen, Jane Rosenberg Bankman, Maiman, Maimin, Caroline Ellison Organizations: Service, FTX, Bankman, Alameda Research, US, United States, Second Circuit, U.S . House Financial, Capitol, Reuters, K5 Global, Prosecutors, Wall, REUTERS, Business, of Prisons, Alemda Research Locations: FTX, Manhattan, New Jersey, New York, Washington , U.S

☆ The Music That Made Us
▼ + stars: | 2024-03-23 | by ( Melissa Kirsch | ) www.nytimes.com time to read: +1 min

Adam rises from his desk and goes to the next room, where he drags a bin of memories out from under the bed. “Johnny Come Home” is one of those songs that evokes the ’80s so acutely for me that I was already experiencing flashbacks to my own adolescence before Adam began to excavate his. I hear it and I’m returned to my childhood bedroom: the boombox with dual tape players, pink wall-to-wall carpet, a diary with a lock. I hadn’t listened to Fine Young Cannibals in many years, but returning to their self-titled album now, I was curious to see if it would arouse the same emotions (anticipation mixed with melancholy). What happens when we re-encounter them later, when we’ve certainly changed, and perhaps they have too?

Persons: Andrew Haigh’s, Adam, Andrew Scott, Johnny Come, ”, We’re, Johnny, I’m, hadn’t, Fine, we’ve Organizations: Fine Locations: Irish

☆ Dua Lipa's new album is called 'Radical Optimism.' Here's everything you need to know.
▼ + stars: | 2024-03-14 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +6 min

Lipa announced on Wednesday that her third album, "Radical Optimism," will arrive on May 3. During an interview with Rolling Stone, Lipa referred to these four collaborators as her "band." Jesso Jr. called his experience working on Lipa's album "the pinnacle of my writing career." "This record feels a bit more raw," she told Rolling Stone. Advertisement"Dua really enjoyed that," Harle told Rolling Stone.

Persons: —, Lipa, Tyrone Lebon, TYRONE LEBON, Houdini, Kevin Parker, Danny L Harle, she'd, Lipa's, Caroline Ailin, Parker, Harle, Tobias Jesso Jr, Rolling, Lady Gaga, Travis Scott, Caroline Polachek, Charli XCX, Jesso, who's, Adele, Niall Horan, Florence Welch, Brittany Spanos, Liam Gallagher, Dua, she's, Damon Albarn, Noel Gallagher, who've, Taylor Swift, Harry Styles, hasn't, Spanos, Anwar Hadid, Romain Gavras, Callum Turner, Ailin Organizations: Service, Business, TYRONE, Rolling Stone, Impala, Brit, Gorillaz, Oasis, Stone Locations: DUA LIPA, @DUALIPA, Lipa, British

☆ Gina Carano says 'The Mandalorian' star Pedro Pascal tried to help during online backlash: 'Just put #transrights in your feed.'
▼ + stars: | 2024-03-14 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +3 min

Gina Carano spoke about being fired from "The Mandalorian" in 2021 after an online backlash. The actor says that the show's lead, Pedro Pascal, tried to help her at the time. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGina Carano said "The Mandalorian" star Pedro Pascal tried to help her when she was dealing with online backlash as a result of her controversial comments regarding pronouns. "Representatives for Pedro Pascal didn't immediately respond to a request for comment from Business Insider.

Persons: Gina Carano, Pedro Pascal, —, Carano, Elon Musk's, Pascal, I'm, — Gina Carano 🕯, ostar,, hank y ou. Organizations: Service, Republican, Rangers, Empire Magazine, SyFy, Disney, Hollywood, Wars, Twitter Locations: Republic

☆ Ariana Grande's 'Eternal Sunshine' isn't her best album, but it's a solid collection of bops
▼ + stars: | 2024-03-08 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +6 min

However, Grande did "Eternal Sunshine" a disservice with its title and marketing. But asked if she planned to "address things" with "Eternal Sunshine," Grande demurred. Sure, you could say that Grande doesn't owe us honesty or specificity, and you might be right. As a staunch believer in the album as an art form, "Eternal Sunshine" left me wanting. But if I reframe "Eternal Sunshine" as a collection of excellent pop songs, I have very few complaints.

Persons: Katia Temkin, Max Martin, ILYA, Shintaro Yasuda, Nick Lee, Grande, who's, Sang, would've, Courtney, we're, She's, baring, I'm Organizations: Records, Press

☆ Opinion: Even the Taylor Swift fans among us are ready for a break
▼ + stars: | 2024-02-15 | by ( Opinion Lynda Gorov | ) edition.cnn.com time to read: +5 min

CNN —It’s going on two entire hours since Taylor Swift showed up in any of my social media feeds. If there’s such a thing as too much Taylor Swift, America may be reaching a saturation point with America’s sweetheart. Taylor Swift is 34. Yes, Swift sells. But, no, we don’t need daily coverage or detailed analysis every time the new guy puts his arm around her.

Persons: Lynda Gorov, CNN —, Taylor Swift, I’m, ”, Swift, she’s, “, Department ”, don’t, haters, haven’t, That’s, Travis Kelce, I’d, who’s Organizations: CNN, Department, Snake Fam Locations: California, America, Brazil, China, Philippines, New Zealand

CNN —Peter Navarro, a former trade adviser to President Donald Trump who was convicted of contempt of Congress, has been ordered to report to prison after a judge denied Navarro’s effort to stay out of prison while he appeals the conviction. Circuit, Defendant shall report to the designated Bureau of Prisons facility on the date ordered by the BOP.”CNN has reached out to Navarro’s lawyer for comment. The decision from Mehta stands in stark contrast to how the conviction of Steve Bannon was handled. It’s unclear from Mehta’s order what date exactly Navarro will be required to report to prison. Shortly after his sentencing, Navarro notified the court that he was appealing the sentence.

Persons: Peter Navarro, Donald Trump, Navarro, Amit Mehta, ” Mehta, Mehta, Steve Bannon, Bannon, Trump Organizations: CNN, Capitol, D.C, of Prisons, ” CNN, DC, Appeals Locations: Washington ,

☆ CVS fined in Ohio for understaffing pharmacy, risking staff and patient safety
▼ + stars: | 2024-02-07 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +6 min

The investigation found that the store was seriously short staffed, pharmacy phones were not working properly and the AC unit was broken. A follow-up visit by agents revealed that the pharmacy was over a month behind in filling prescriptions, according to the agency’s report. In addition to the fine, regulators also put the 7292 Fulton Drive CVS store on probation for at least three years during which it will be subject to enhanced monitoring. The issues being investigated range from hundreds of prescriptions allegedly being past due, pharmacy staffing shortages, clutter and unsafe working conditions and concerns about maintaining adequate medications safety inside the pharmacy. These concerns led some pharmacists to walk out of CVS and Walgreens stores pharmacies last fall and ignited a national push to unionize pharmacy workers.

Persons: we’ve, We’re, Amy Thibault, ” Steven W, ”, Nicole Goodkind Organizations: New, New York CNN, CVS, State of Ohio, of Pharmacy, CNN, Ohio, Pharmacy, state’s, Pharmacists, Community Pharmacists Association, Walgreens, Walmart, Institute, National Institutes of Health Locations: New York, Canton , Ohio, State, Canton, Ohio, United States

LOS ANGELES (AP) — Actor Gina Carano on Tuesday sued Lucasfilm and its parent The Walt Disney Co. over her 2021 firing from “ The Mandalorian,” saying she was let go for expressing right-wing views on social media. The lawsuit says Lucasfilm also hurt her future work prospects by making “maliciously false” statements about her. Carano had previously been criticized for social media posts that mocked mask wearing during the pandemic and made false allegations of voter fraud during the 2020 presidential election. She also mocked the use of gender pronouns in profiles, listing “beep/bop/boop” in her social media bio. Carano said on social media Tuesday that X had helped fund the lawsuit.

Persons: Gina Carano, Carano, “, “ Carano, ”, Pedro Pascal, Cara Dune, X, Elon Musk Organizations: ANGELES, Tuesday, Lucasfilm, Walt Disney Co, “, Disney Locations: California, Nazi Germany, Alderaan

☆ Elon Musk's X is paying for Gina Carano to sue Disney over her firing from 'Star Wars'
▼ + stars: | 2024-02-06 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Gina Carano is suing Disney and Lucasfilm with Elon Musk's financial backing. The "Mandalorian" actor was fired from the show in 2021 after a string of social media controversies. Elon Musk's X Corporation is funding Carano's lawsuit against The Walt Disney Company and Lucasfilm, attorneys for the actor said in a Tuesday press release. AdvertisementIn a Tuesday post on X, Carano denied comparing Republicans to Jewish people. Attorneys for Carano said Tuesday that Musk's X Corporation is paying for her lawsuit.

Persons: Gina Carano, Carano, —, Disney, Elon, Cara Dune, mischaracterizing, lockdowns, Musk, Elon Musk, Carano's Organizations: Disney, Lucasfilm, Elon, Service, Elon Musk's X Corporation, Walt Disney Company, Carano, Business, Twitter, Corporation, Republicans Locations: California

☆ Elon Musk's X funds Gina Carano lawsuit vs. Disney, Lucasfilm over ‘Mandalorian’ firing
▼ + stars: | 2024-02-06 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Gina Carano as Cara Dune in the "The Mandalorian," a Star Wars series on Disney+. Elon Musk's company X is funding a new lawsuit filed by actor Gina Carano over her firing from the Disney+ streaming TV series "The Mandalorian" after she shared a controversial social media postCarano sued Disney and its Lucasfilm subsidiary in Los Angeles federal court over her termination from the "Star Wars" franchise series in February 2021. The suit, which alleges wrongful discharge and sex discrimination, seeks Carano's reinstatement in "The Mandalorian," and monetary damages for the loss of her past pay and her future employment as a result of her termination. Carano was booted from the series after she shared a post on Instagram and TikTok that implied conservatives in the United States were being treated like Jewish people in Nazi Germany. Musk in August had said that X would fund the legal bills of X users "if you were unfairly treated by your employer due to posting or liking something on this platform."

Persons: Gina Carano, Cara Dune, Elon, Carano, Covid, Musk Organizations: Disney, Elon Musk's, Lucasfilm, Wars Locations: Los Angeles, United States, Nazi Germany

☆ Adele Springsteen, Rock Star’s Mother, Dies at 98
▼ + stars: | 2024-02-01 | by ( Orlando Mayorquin | More About Orlando Mayorquin | ) www.nytimes.com time to read: +1 min

Adele Springsteen, who nurtured the budding musical talent of her son, the pioneering rock star Bruce Springsteen, died on Wednesday. No cause was given, but Ms. Springsteen had struggled for more than a decade with Alzheimer’s disease. Her son has been outspoken about his relationship with his mother and her influence on him. Ms. Springsteen rented him his first guitar when he was 7, he said in 2021 during his Broadway show, “Bruce on Broadway,” which ran for more than two months as the city began to emerge from pandemic-related closures. The show had wide-ranging reflections, including thoughts about his mother.

Persons: Adele Springsteen, Bruce Springsteen, Springsteen, “ Bruce, James, ” Organizations: Broadway, St, James Theater, NBC

LOS ANGELES (AP) — Taylor Swift leads the 2024 iHeartRadio Music Awards nominations with nine, followed closely by Jelly Roll, SZA, and 21 Savage with eight. The iHeartRadio Music Awards honor the most played artists of the year on their stations and app, and fans can vote in several categories including best lyrics, best music video, best fan army, social star award, favorite tour photographer, TikTok bop of the year, favorite tour style and two new fields: favorite on screen and favorite debut album. Social voting begins today at iHeartRadio.com/awards and will close on March 25 at 11:59 p.m. PDT for all categories. There are a total of seven new categories this year, from the two aforementioned socially-voted category to pop song of the year, pop artist of the year, K-pop artist of the year, K-pop song of the year and best new K-pop artist. It will also air on iHeartRadio stations across the U.S. and the app.

Persons: — Taylor Swift, Jelly Roll, Olivia Rodrigo, Taylor Swift's “, Selena Gomez's, ” Luke Combs, Tracey Chapman's, ” Miley Cyrus, ”, ” Morgan Wallen's “, Olivia Rodrigo's “ Organizations: ANGELES, Rema, ” Metro Boomin, Dolby Theatre, FOX Locations: Los Angeles

☆ Jared Fogle, former face of Subway and admitted child abuser, is scheduled to be released from prison a year early
▼ + stars: | 2023-11-25 | by ( Haven Orecchio-Egresitz | ) www.businessinsider.com time to read: +3 min

Jared Fogle was once the face of Subway sandwiches. In 2015, Fogle was sentenced to 15 years in federal prison for having sex with minors. AdvertisementFor the last eight years, Jared Fogle, once the face of Subway sandwiches, has been living on an even blander diet at a federal prison mess hall. AdvertisementThe BOP declined to comment on Fogle's release date, per security policy, and it is unclear when his release was scheduled. An attorney for Fogle could not immediately be identified, as he represented himself in his last federal court matter.

Persons: Jared Fogle, Fogle, —, Fogle's, Kathleen McLaughlin, AP Fogle Organizations: Service, FCI, Business, Subway, FBI, AP, of, of Prisons Locations: FCI Englewood, Colorado, Indiana, Littleton , Colorado

ROCHESTER, N.Y. (AP) — Fans have pushed the Fisher-Price Corn Popper into the National Toy Hall of Fame, elevating it from perpetual finalist to 2023 inductee, alongside baseball cards, Cabbage Patch Kids and NERF foam toys, the Hall of Fame announced Friday. Baseball cards, Cabbage Patch Kids and NERF toys were voted in in the usual way from among a field of 12 finalists, with input from a panel of experts. The winners are on permanent display at the National Toy Hall of Fame, which is located inside The Strong National Museum of Play in Rochester, New York. Cabbage Patch Kids continue to encourage imagination and storytelling for kids. Fisher-Price Corn Popper, which is a forgotten finalist no longer, is a great activity for toddlers," Bensch said.

Persons: Price, Popper, Fisher, Ken, Barbie, ” Christopher Bensch, Price Corn Popper, Bensch, “, grownups Organizations: National Toy Hall of Fame, of Fame, Fame's, Toy Hall of Fame, Museum of Locations: ROCHESTER, N.Y, Rochester , New York

☆ Courtney Bryan’s Music Brings It All Together
▼ + stars: | 2023-10-31 | by ( Seth Colter Walls | ) www.nytimes.com time to read: +1 min

The name Courtney Bryan is not one that you’ll currently find on many recordings. Aside from two independently released, jazz-tilting albums from 2007 and 2010, precious little of this pianist and composer’s finely woven, adventurous music is available to hear widely. But you can expect that to change, beyond live performances including the premiere of Bryan’s chamber work “DREAMING (Freedom Sounds),” presented by the International Contemporary Ensemble at Merkin Hall on Wednesday. Symphony orchestras, chamber musicians, vocal groups and jazz performers have all been drawn to her sound. Last spring, the New York Philharmonic premiere of “Gathering Song,” with text by the stage director Tazewell Thompson and hints of post-bop jazz harmony, displayed her place among the most exciting voices in contemporary American music.

Persons: Courtney Bryan, you’ll, ”, Boosey & Hawkes, ” Bryan, MacArthur, Tazewell Thompson Organizations: International, Merkin Hall, Boosey &, Columbia University, New York Philharmonic Locations: New Orleans

☆ Jazz’s Hancock Competition Returns, Crowning an Electrifying Rising Star
▼ + stars: | 2023-10-17 | by ( Giovanni Russonello | ) www.nytimes.com time to read: +2 min

Jazz’s future — actually, its present — looks brighter than it has in at least 50 years. In April 2022, Jon Batiste cleaned up at the Grammys, becoming the first jazz musician below retirement age in decades to win album of the year. Young improvisers like him seem less intimidated than ever by jazz’s gloried history, and are dumping their energies into fusions and multimedia projects. For much of Saturday afternoon, when 11 pianists under 30 competed in the semifinals, there was cause to wonder. At one point I started to wonder if there was a rule against bringing in your own original tunes.

Persons: —, Jon Batiste, Young improvisers, jazz’s, Wayne Shorter, Thelonious Monk, George Gershwin, Carl Allen Organizations: Hancock

☆ Bankman-Fried needs Adderall to testify, defense requests delay in trial
▼ + stars: | 2023-10-16 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

"Bankman-Fried has been doing his best to remain focused during the trial for the past two weeks, despite not having his prescribed dose of Adderall during trial hours," continues the letter to the court. "Mr. Bankman-Fried has a history of Major Depressive Disorder and Attention Deficit Hyperactivity Disorder," Lerner wrote. Lerner added in his letter that Bankman-Fried had tried other antidepressants but said they were ineffective for his symptoms. Without his medication, Lerner warned the judge, "Bankman-Fried will experience a return of his depression and ADHD symptoms and will be severely negatively impacted in his ability to assist in his own defense." For nearly a year, there's been a nationwide shortage of Adderall, the popular stimulant used to treat ADHD.

Persons: Sam Bankman, District Judge Lewis Kaplan, Fried, Mark Cohen's, Judge Kaplan, Cohen, Bankman, Caroline Ellison, meds, George Lerner, Lerner, there's Organizations: U.S, District, Government, U.S . Food, Drug Administration Locations: Bahamas, U.S

☆ Jan. 6 rioter who urged mob to take officer's guns took a secret plea deal, DOJ confirms
▼ + stars: | 2023-10-02 | by ( Ryan J. Reilly | ) www.cnbc.com time to read: +3 min

Samuel Lazar, a pro-Trump rioter, also shot at a line of officers with pepper spray on Jan. 6, the government said. The Justice Department declined to comment on Lazar's case at the time. Video shows Lazar on Jan. 6 yelling "Let's get their guns! "They maced us, those tyrannical pieces of s---, and we maced them right the f--- back," he said, in video cited by the Justice Department. The joint filing unsealed Monday confirmed Lazar was released on Sept. 13, 2023, having served his 2.5-year sentence after factoring in credits for good behavior.

Persons: WASHINGTON —, Samuel Lazar, Trump, Lazar, Rudy Giuliani, Doug Mastriano, Mastriano, Amy Berman Jackson, Jan, Let's Organizations: Trump, Justice Department, NBC News, The, U.S, U.S . Capitol, Capitol, Federal Bureau of Prisons, BOP, Associated Press Locations: Pennsylvania

To help future-proof emergency spending, I realized I might need insurance coverage. First is general liability coverage, which safeguards your business in the event someone makes a claim against you or your business. BOP also includes property coverage, which helps protect business property you own, lease or rent, including your buildings, equipment, furniture, and inventory. Find the Best Business Insurance for You Meet Simply Business. "In the event that a work-related injury or illness should occur, workers' compensation coverage helps provide protection for you and your employees," he said.

Persons: I've, Matthew Richards, Richards Organizations: Travelers Insurance, Business Insurance, Workers Locations: New York

☆ Taylor Swift and Sophie Turner having a girls’ night out has delighted the internet
▼ + stars: | 2023-09-20 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

Weeks after Joe Jonas and his wife “Game of Thrones” star Sophie Turner split, she was photographed stepping out to dinner in the Big Apple with Taylor Swift. Swift famously dated Jonas, who is a member of the Jonas Brothers trio, back in 2008. So, to see Swift and Turner, arms linked and stepping out on the town Tuesday night, was too too much for some. “Taylor Swift and Sophie Turner really just did the most iconic thing possible,” one person tweeted. “Taylor Swift and Sophie Turner publicly going out to dinner together was very calculated and I feel uncomfy about it as a Jonas fan,” one person tweeted.

Persons: Weeks, Joe Jonas, “, Sophie Turner, Taylor Swift, Swift, Jonas, Jonas –, that’s, Turner, “ Taylor Swift, Alexa, Mr, ” Swift Organizations: CNN, Big Apple Locations: New York City

☆ 5 Minutes That Will Make You Love Max Roach
▼ + stars: | 2023-09-06 | by ( Marcus J. Moore | ) www.nytimes.com time to read: +6 min

Listen on YouTube◆ ◆ ◆Joseph Patel, producer of ‘Summer of Soul’Max Roach, “Drums Unlimited”I discovered and fell in love with jazz while in college. From this study, I could put my finger on the records, musicians and lineups at the forefront of change in the genre — and at every step of the way, there was Max Roach. On “Freedom Day,” Max’s drum playing represents a heart dealing with the emotions of becoming a free human being. Listen on YouTube◆ ◆ ◆Brandi Waller-Pace, musician, educator and scholar-activistClifford Brown and Max Roach, “Joy Spring”Few drummers have reached the level of innovation and influence Max Roach did throughout his long and prolific career. “Joy Spring,” recorded with the legendary and tragically short-lived Clifford Brown and Max Roach Quintet, is a jazz classic and a personal favorite.

Persons: “, ”, Abstrutions ”, Stanley Cowell’s, ◆ Joseph Patel, ’ Max Roach, Max Roach, Roach, Abbey Lincoln, ◆ Nicole Sweeney, Lincoln’s, Max, Booker Little, ◆ Brandi Waller, Clifford Brown, Kenny Clarke, Roach’s, Harold Land’s, I’m, ◆ Elena Bergeron, Charles Mingus, Duke Ellington, Mingus, Ellington Organizations: YouTube, Calif, Harlem Cultural, Pace Locations: Davis, Harlem

"China is not trying to supplant the IMF," said Matthew Mingey, a senior analyst with Rhodium Group. "When China has allowed these swap lines to be tapped, in many cases it's to unlock an IMF bailout or ensure an IMF programme stays on track." In turn, China is a major customer for Argentina's soy, corn and poultry exports. "China has every incentive to tightly manage Argentine drawings under the swap lines as the risks are very high." The swap line that the People's Bank of China (PBOC) signed in 2009 with Buenos Aires was the first agreed with a Latin American country.

Persons: Matthew Mingey, Buenos, Mark Sobel, Sobel, Sergio Massa, Martin Castellano, Alejandro Werner, Werner, Mingey, Jorgelina, Rosario, Karin Strohecker, Jorge Otaola, Joe Cash, Kirsten Donovan Organizations: International Monetary Fund, IMF, U.S . Treasury, Reuters, World Bank, TAG, People's Bank of China, Buenos Aires, Economy, Institute of International Finance, Relations, Georgetown Americas Institute, Western Hemisphere Department, Thomson Locations: China, Argentina, Beijing, Washington, Latin America, Buenos Aires, U.S, Buenos, American, United States, Zambia, Sri Lanka, Taiwan, Ukraine

☆ Liberty Mutual to stop offering business owner's policy in California as costs bite
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Property and casualty insurer Liberty Mutual will stop offering its business owner's policy (BOP) product in wildfire-prone state California from Oct. 1, in a sign that cost inflation and higher catastrophe losses are pounding insurers' profits. A spokesperson for Liberty Mutual also told Reuters in an emailed statement that the company "will not renew its current book of this line of business beginning in December." BOP is an insurance product usually required by business owners that bundles all major property and liability risks into a single package. Liberty Mutual joins a growing list of major insurers retreating from California. In May this year, State Farm said that it would stop selling new insurance policies to homeowners in California.

Persons: Fitch, Jaiveer Singh, Manya, Shailesh Organizations: Liberty Mutual, Reuters, Global, Farm, Manya Saini, Thomson Locations: California, Bengaluru

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