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08.05.26 - 15:30
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IPO-bound Hero FinCorp banks on AI strategies for value creation (Times of India)
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IPO-bound Hero FinCorp is strategically leveraging AI for future growth, alongside focusing on 'Aspiring India' households and asset inclusion. The NBFC aims to raise approximately Rs 3,700 crore through its public offering. The company is utilizing AI for a real-time predictive risk intelligence system and to enhance customer service, demonstrating a significant evolution from its initial two-wheeler financing....
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08.05.26 - 03:18
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California Insurance Regulators Say State Farm Mishandled Wildfire Claims (ZeroHedge)
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California Insurance Regulators Say State Farm Mishandled Wildfire Claims
Authored by Dylan Morgan via The Epoch Times,
The California Department of Insurance announced on May 4 it filed an enforcement action against State Farm, alleging the company significantly mishandled claims from survivors of the 2025 Los Angeles wildfires.
“Wildfire survivors came to us for help, and we followed the facts,” Insurance Department Commissioner Ricardo Lara said.
“Our investigation found that State Farm delayed, underpaid, and buried policyholders in red tape at the worst moment of their lives. That is unacceptable, and we are taking decisive action to hold them accountable.”
The Palisades Fire and the nearby Eaton Fire, which ignited in Altadena, California, on Jan. 7, 2025, claimed around 30 lives and destroyed more than 12,000 structures.
The Insurance Department said that State Farm received approximately 11,300 of the nearly 39,000 claims related to the Los Angeles wildfires filed across all in...
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07.05.26 - 17:45
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Beijing Flip-Flops, Asks Banks To Pause Loans To Sanctioned Refiners Days After Ordering Them To Ignore Sanctions (ZeroHedge)
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Beijing Flip-Flops, Asks Banks To Pause Loans To Sanctioned Refiners Days After Ordering Them To Ignore Sanctions
Over the weekend, we reported that in what some called a "watershed moment", Beijing ordered Chinese companies not to comply with US sanctions on five domestic refiners linked to the Iranian oil trade, deploying for the first time a blocking measure introduced in 2021 that was aimed at protecting its firms from foreign laws it deemed unjustified. Of note, China's refiners - including Hengli Petrochemical (Dalian) Refinery which was sanctioned last month and several other privately-owned processors - had been facing asset freezes and transaction bans. Hengli was the most ambitious target to date in China's refining sector, and underscores US eagerness to push Iran to the negotiating table at all costs, even just weeks before an expected and long-awaited meeting between Trump and his counterpart Xi Jinping.
Well, maybe not. In an apparent reversal of its blocking meas...
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