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Economic Fallout of Italy Quake (New York Times)
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Of the 90 companies operating in the area, including multinationals, 80 have suffered some damage, along with the satellite industries that supply them.
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Firms Halt Insurance Over Fears on Greece (Wall St. Journal)
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Two of the world's biggest trade insurers said Wednesday they won't offer new insurance cover for exporters shipping goods to Greece as they find it increasingly difficult to price such cover amid worries that the country may quit the euro zone.
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Lightning Strikes Feed Volatile Fire Season (New York Times)
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Driven by high winds, brittle conditions and lightning strikes, wildfires raged across swaths of the Southwest and the Midwest on Wednesday, the latest rash of blazes in what has already been an especially volatile fire season.
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Fitch: Spain, Italy Insurers Exposed to Greek Exit (Reuters)
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Insurers in Spain and Italy would be hit harder than those elsewhere in Europe if Greece left the eurozone because they hold more risky sovereign and bank debt, ratings agency Fitch said.
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U.S. Insurance Industry Has Capacity to Meet Hurricane Coverage in 2012 (Boston.com)
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Sufficient capacity remains available in the reinsurance markets to meet the demand for coverage prior to the approaching U.S. hurricane season, according to Fitch Ratings' annual hurricane season desk reference.
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Dewey & LeBoeuf May Be Largest Law Firm Collapse in History (Bloomberg)
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Dewey & LeBoeuf LLP, the law firm that advised Los Angeles Dodgers LLC on its restructuring, filed its own bankruptcy after its chairman was ousted, almost all its partners quit and creditors began suing for unpaid bills.
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Bogus Reinsurance Planners in Settlement Talks (Wall St. Journal)
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Federal prosecutors and lawyers for five former insurance executives accused of engineering a bogus reinsurance transaction to mask a drop in reserves at AIG are in settlement talks, according to a joint court filing.
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Tropical Storm Beryl Strengthens, Nears U.S. Coast (Associated Press)
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Tropical Storm Beryl was close to making landfall in the southeastern U.S. late Sunday. The National Hurricane Center in Miami reported late Sunday that Beryl was 35 miles east of Jacksonville, Fla., and 75 miles (121 kilometers) south-southeast of Brunswick, Ga.
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J.P. Morgan Chase Risk Manager Scrutinized (Wall St. Journal)
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An executive who oversaw risk management at the unit responsible for trading blunders that cost J.P. Morgan Chase & Co. at least $2 billion this year earlier lost millions while trading for the same unit, according to people familiar with the bank.
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Seven Dead in Italy Earthquake (CNN)
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Thousands of survivors huddled in tents or in their cars under rainy skies early Monday following a weekend earthquake that killed seven people across northern Italy.
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Study: Brain Damage from IED Blasts and Football Concussions Similar (Washington Post)
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Soldiers exposed to roadside bomb blasts and athletes who have suffered repeated concussions show the same long-lasting changes to brain cells, a new study reports. It adds to the evidence that injuries once officially termed "mild" may be anything but.
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Panel Weighs Testing Anthrax Vaccine on Children (Associated Press)
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The Obama administration is asking a presidential commission to help decide an ethical quandary: Should the anthrax vaccine and other treatments being stockpiled in case of a bioterror attack be tested in children?
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Fate of "Uninsurables" in the Supreme Court's Hands (Associated Press)
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Nearly 62,000 other "uninsurable" patients are getting coverage through a little-known program for people who have been turned away by insurance companies because of pre-existing medical conditions. They're all awaiting the Supreme Court's decision on health care reform.
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AIG Wagers on Subprime Betting Second Time is Different (Bloomberg)
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After needing a $182.3 billion bailout from the U.S. government in 2008 after failed mortgage investments, AIG is betting this time it's different. CEO Robert Benmosche has increased non-government-guaranteed residential and commercial-mortgage backed securities holdings by $11.1 billion since 2010 to $28.4 billion at the end of March.
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Greek Euro Exit May Cost $1T (Reuters)
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A Greek exit from the euro zone could expose the European Central Bank and the currency bloc it seeks to protect to hundreds of billions of euros in losses, landing Germany and its partners with a crippling bill.
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