Waiting for a Slowdown

▤ Summary

Balwani and Holmes, who together pushed Theranos to soaring heights with a promise to revolutionize health care, are the most prominent tech executives to be charged with and convicted of fraud in a generation. The article’s claims, which could not be confirmed by The New York Times, took Twitter and its advisers by surprise, because they did not consider the deal to be in any further peril than at any other point in recent months, writes DealBook’s Lauren Hirsch. Twitter reiterated that it intends “to close the transaction and enforce the merger agreement at the agreed price and terms.” Extreme weather is changing the calculus of insurance coverage across the United States, as wildfires and floods leave property owners scrambling in California, Florida and Louisiana. “With losses mounting, insurers can no longer avoid or postpone addressing the impact of changing climate,” the report states, adding that regulators must ensure that companies are predicting and managing that exposure. The Center for American Progress, a think tank, recently called on regulators to identify and mitigate insurance industry climate risks, saying “the full severity and scope of the problem is difficult to determine” partly because of insufficient data.

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