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Daily Business Review

Ian's Damage to Florida Agriculture as High as $1.8 Billion

The biggest losses came from citrus, which had damages between $416 million and $675 million, the Department of Agriculture report said.
2 minute read

New York Law Journal

Federal Preemption of State Banking Laws

The Second Circuit's 'Cantero' decision clarifies the preemptive scope of the National Bank Act: If a state law purports to control an enumerated or incidental power of a national bank, then it is preempted by the NBA regardless of its impact on a bank's revenues or management.
8 minute read

New York Law Journal

Chinese Intelligence Sought to Infiltrate EDNY Prosecution Team in Huawei Case, DOJ Says

Two alleged Chinese intelligence operatives attempted to "steal the prosecutors' playbook" in the ongoing case against the Chinese telecommunications giant, a top DOJ official said.
3 minute read

Daily Business Review

New ESG Fund Numbers Plunge Amid Crackdown on Greenwashing

Regulators in the EU, U.K. and U.S. are investigating environmental, social and governance funds amid growing concerns that asset managers keen to sell products are promising more than they can deliver.
3 minute read

Daily Business Review

Florida Unemployment Rate Continues to Go Down

The 2.5% jobless rate, the lowest for the state since October 2006, is based on data collected before Hurricane Ian made landfall and crossed Florida.
3 minute read

New Jersey Law Journal

Federal Judge Refuses to Dismiss Claims in Long-Running Battle Over Spencer Savings Bank

A federal judge in New Jersey declined to dismiss a complaint brought by Spencer Savings Bank against nine named defendants alleging that the individuals opened their accounts for the sole purpose of assisting Lawrence Seidman in his long-standing effort to gain a seat on the bank's board of directors.
7 minute read

Daily Business Review

Goldman Strategists Warn Credit Is Downplaying Recession Risk

Goldman Sachs added its voice to calls from PGIM and JPMorgan Asset Management flagging the upward risks to yield premiums in credit as the chances of recession in the U.S. mount.
2 minute read

Daily Business Review

Munich Re Warns on Target After $1.6 Billion Hit From Ian

Hurricane Ian carved a trail of ruin across southern Florida, downing bridges, inundating roads and shattering homes. Insured losses have been estimated at more than $60 billion.
2 minute read

Daily Business Review

Summers Warns on Deficit 'Doom Loop' Risk, Oil Price Spike

Former Treasury Secretary Lawrence Summers said that governments need to pay increasing attention to their budgets, with mounting deficits alongside surging borrowing costs having the potential for shaking confidence.
3 minute read

Daily Business Review

Twitter Tumbles After US Weighs Security Reviews for Musk Deals

Officials in the U.S. government and intelligence community are weighing what tools, if any, are available that would allow the federal government to review Elon Musk's ventures, including his Twitter deal.
4 minute read

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