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Corporate regulator finds insurers settling most claims with cash rather than by managing repairs or rebuilding, warning of ‘unfair outcomes’ for homeownersGet our breaking news email, free app or daily news podcastHome insurers are overwhelmingly paying cash to settle claims, leaving Australians to foot blowouts in repair costs for their cyclone-damaged homes.The corporate regulator is calling for “realistic” bigger payouts, warning the practice could cause “unfair outcomes” for people already in vulnerable positions. Continue reading...

Breakdown recovery group’s private equity owners reportedly in talks with various suitors to sell companyGermany-based financial services company ⁠Allianz is considering a £5bn takeover swoop for AA, ⁠the breakdown ⁠recovery ​group, Sky News has reported.Allianz is ‌one of a small number of parties holding talks with advisers to the AA about a deal, Sky News said, adding that ‌the private equity outfit EQT was another bidder. Continue reading...

The walls of a teaching hospital are filled with pictures of unidentified victims as authorities collect DNA samples and plan burials before morgues fill upFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastSome of them are young, some old; most of them appear to be men. Some of them could be sleeping, except for the mud that covers their bodies. Some, it seems, would be impossible to recognise even if you knew them well.Every few hours Nepalese authorities hang pictures of the deceased, who have not been identified, on a wall at the back of a teaching hospital in Kathmandu. Continue reading...

• NASA is scheduled to launch the Roman space telescope this Sunday morning from Florida to search for exoplanets and study planet formation. • The mission survived previous budget cuts under the Trump administration and is designed to complement the work of the Hubble (1990) and Webb (2021) telescopes. • This launch is significant as it provides a specialized tool to advance existing astronomical missions and make independent discoveries about the universe.

Plaskett fire has swept through more than 5,900 acres in Monterey county and remains un-contained, says Cal FireA fire in California’s Big Sur region doubled in size overnight, forcing the evacuation of nearby residents, in a coastal region where firefighters have battled another blaze for weeks.The Plaskett fire, which sparked on Tuesday, had swept through more than 5,900 acres (2,400 hectares) in Monterey county as of Friday, and remained un-contained, according to Cal Fire. Its cause is under investigation. Continue reading...

• The U.S. Treasury Department launched "Operation Economic Outcast" this week, targeting Iranian financial networks to increase economic pressure on Tehran. • As part of the operation, FinCEN proposed a rule to revoke the U.S. correspondent banking access of Banque Misr UAE, an Egyptian bank branch allegedly linked to the Iranian regime. • Iran's Supreme Leader Mojtaba Khamenei has acknowledged the resulting economic hardships, while Banque Misr UAE stated it is reviewing the accusations with "utmost seriousness."

Family members pin photos of Nepal’s missing to hospital wall as people try not to give up hope on loved onesNepal-Tibet flash flood – latest updatesPosters of the missing line the wall of the hospital, the glue still fresh beneath. A schoolgirl smiling in her uniform; a beaming, chubby-cheeked baby; a couple smiling on their wedding day; a young man, hands on hips, atop a mountain peak; a young girl with flowing hair, peaking out from behind a door.These are faces of Nepal’s missing, just a fraction of the thousands who have not been seen since deadly flash floods coursed through the Himalayas and wiped away entire villages. By Saturday morning, the toll of the missing had risen to almost 3,000, in both Nepal and Tibet. Continue reading...

Recent deadly water-related incidents amid heatwave leads National Park Service to issue water-safety remindersAs a heatwave continues to bake the western and central US, officials are urging swimmers to be cautious when seeking respite from the summer heat, especially amid a score of recent deadly water-related incidents.Each year, from April to September, drowning deaths rise nationwide, according to 2018-24 data from the US Centers for Disease Control and Prevention. Continue reading...

Searching for exoplanets and clues on planet formation, the Roman telescope will lift off Sunday morning in FloridaA $4.3bn space telescope that Donald Trump tried to kill is set to lift off from Florida early on Sunday as Nasa embarks on the next stage of its quest to unlock the secrets of the universe.The Nancy Grace Roman space telescope survived two rounds of proposed White House budget cuts, and will embark on a million-mile journey into deep space from a launchpad at the Kennedy Space Center at 7.26am ET, barring late technical issues or intervention from Florida’s notoriously capricious summer weather. Continue reading...

• Leading tech companies are calling for a collective defensive surge to combat the rise of AI-enabled hacking campaigns targeting organizations globally. • The urgency follows the deployment of large language models by rogue actors to supercharge cyberattacks and breach security systems. • In June, the "Five Eyes" intelligence alliance—comprising the U.S., Britain, Canada, Australia, and New Zealand—issued a rare joint warning that AI will fundamentally transform cybersecurity.

• Pyth is experiencing a price decline of 7.48%, trading at $0.047 today. • The downturn is driven by an API migration that has potentially compromised the stability of DeFi price feeds. • This technical shift is significant because it creates operational risks for decentralized finance protocols that rely on Pyth for accurate real-time data.

• Over 130 leading tech companies, including Google, Microsoft, OpenAI, Anthropic, IBM, and Cisco, have signed a joint call to prioritize the strengthening of cyber defenses. • The coalition is warning of a significant surge in AI-driven cyberattacks, with a specific focus on the vulnerability of critical infrastructure. • This initiative matters as the rapid advancement of AI tools allows attackers to automate and scale sophisticated threats more efficiently than ever before.

Nearly 600 days after the devastating 2025 fires, thousands of Los Angeles residents are still waiting for more than $15bn in federal funds to rebuild their communities As thousands of residents in Spokane, Washington begin to grapple with a long recovery after a destructive set of blazes that consumed hundreds of homes in the state’s second most populated city this month, victims of the Los Angeles firestorm broke a grim record – they have faced the longest delay in modern history for federal aid.Nearly 600 days since a historic firestorm roared into communities across Los Angeles, reducing more than 16,000 structures to ash and toxic debris, the Trump administration has failed to appropriate more than $15bn in long-term recovery funds that are crucial to rebuilding. The delay in supplying the badly needed funds is months longer than the last record set when victims of the Maui fires had to wait 500 days to receive the support, LAist noted this week. Continue reading...

• The Nifty index is expected to face downward pressure this Monday following hawkish inflation warnings issued by US Fed Chairman Kevin Warsh at the Jackson Hole symposium. • Market volatility is being driven by a combination of elevated US bond yields, a strengthening US dollar, and rising crude oil prices. • These macroeconomic factors threaten to reduce foreign institutional investment flows into the Indian equity market.

• The FDA has approved a landmark drug designed to treat pancreatic cancer, one of the deadliest forms of the disease. • The medication utilizes a new therapeutic approach by blocking a specific protein that fuels tumor growth in the vast majority of pancreatic cancer cases. • This approval is significant because the drug has demonstrated a measurable ability to improve patient survival rates.

• OpenAI and over 100 companies have issued a formal warning to governments and businesses regarding an imminent surge in AI-powered cyberattacks. • The group cautions that within a few months, hacking attempts will become significantly more advanced, widespread, and difficult to defend against. • This alert highlights the critical need for a global defense push to strengthen cybersecurity infrastructure before these AI-enabled threats scale.

• Investors are pressuring the Federal Reserve for clear policy guidance ahead of Chair Warsh's scheduled speech this Friday at the Jackson Hole conference. • The market is seeking a "reset" or specific signals regarding future interest rate movements to reduce growing economic uncertainty. • Simultaneously, the U.S. government is considering the implementation of new semiconductor tariffs targeting servers and electronic devices.

• A survey conducted by Catawba College and YouGov reveals that North Carolinians across the political spectrum broadly support nonpartisan election officials who prioritize public interest over party affiliation. • Despite this shared expectation, the data indicates that significant partisan trust gaps persist regarding the current administration of elections. • The findings highlight a critical tension in North Carolina's political climate, where there is a desire for neutrality amidst deep ideological divisions.

• Prudential is strategically increasing its focus on the Indian market and expanding its bancassurance partnerships to drive growth across Asia. • The company's H1 financial results highlight a widening "protection gap" in the region, indicating a significant underserved demand for insurance products. • This shift signals intensifying competition for independent intermediaries and brokers, as Prudential leverages bank-led distribution channels to reach customers.

• Tech giants including OpenAI, Anthropic, Microsoft, Alphabet, and Amazon are calling for a society-wide defensive surge to combat AI-driven cyberattacks. • The urgency stems from the increasing use of large language models (LLMs) by rogue actors to supercharge hacking campaigns and breach global organizations. • This initiative matters because AI lowers the barrier for sophisticated attacks, potentially overwhelming current cybersecurity infrastructures.

The catastrophic flash flood has killed at least 389 people and left more than 1,300 missing, with hundreds of tourists unaccounted forNearly 1,400 missing, mostly tourists, and hundreds killedVisual guide: how the deadly flooding unfoldedTell us: have you been affected by the flash floods?Chinese authorities have warned that an artificial lake formed after a catastrophic flash flood hit the China-Nepal border on Wednesday faces a “high risk of breaching and sending flood waters downstream”, according to state media.“According to forecasts, inflows into the lake could reach about 3 million cubic meters over the next three days amid continued rainfall, increasing the risk of a breach that could send flood waters downstream and potentially cause further damage in areas including Gyirong Port and elsewhere downstream”, state news agency Xinhua reported late Thursday.Rescue teams and military helicopters are searching for hundreds of missing people along the mountainous Nepal-Tibet border after a huge torrent of water and mud swept through communities following a glacier collapse on Wednesday.More than 390 people were killed, authorities in Nepal and China said, and more than 1,400 were missing, including hundreds of foreign citizens and pilgrims.More than 500 foreign citizens were among 826 people missing in Nepal, police and tourism ⁠officials said. Among those unaccounted for were 177 from India, 90 from the US, 34 from Australia, 33 from Britain and 25 from Canada.Chinese state media said at least 558 were missing on the Tibet side of the border, of whom at least 260 were foreign nationals.UN humanitarian chief Tom Fletcher said he ordered the release of $2m from the UN’s central emergency response fund to help with medical care, shelter and water.US president Donald Trump said the flooding was terrible to see, describing how “strong, well-built buildings were wiped out like they were toothpicks”.Nepalese officials said dozens of bridges were destroyed and nearly 40km of roads damaged, complicating search efforts.The Nepalese army had rescued more than 100 people by helicopter, an army spokesperson said. Army teams also evacuated people trapped inside facilities linked to the Trishuli hydropower project, he said.Dozens of injured people were transported to Kathmandu for medical care.Rescuers found bodies in Nepal’s Chitwan district, hundreds of kilometres downstream from the hardest-hit areas.The Nepal Red Cross Society said the agency has shifted its focus from rescue to large-scale relief operations in the flood-hit districts.China’s premier, Li Qiang, arrived on Thursday in Gyirong to direct rescue efforts, alongside 500 military and paramilitary personnel. Continue reading...

• UiPath shares surged 8.85% to reach $18.23, driven by strong buying pressure and trading above key technical support levels. • The stock's upward movement is being closely monitored by analysts to determine if it can break through critical resistance levels. • Separately, the U.S. government is considering the implementation of new semiconductor tariffs targeting servers and electronic devices.

• Over 100 technology and financial firms, including OpenAI, Microsoft, Alphabet, Amazon, and Anthropic, issued a joint letter on Thursday urging a global surge in cyber defenses. • The coalition warns that the AI revolution is poised to "fundamentally transform" cybersecurity, increasing the risk and scale of AI-driven cyberattacks across multiple sectors. • This call to action follows a similar June warning from the Five Eyes intelligence alliance (U.S., UK, Canada, Australia, and New Zealand) regarding the evolving threat landscape.

Gold collection known as Treasure of Villena, worth at least €1.7m, is latest target of ‘very well planned’ raidThieves in Spain have raided the Treasure of Villena – a stunning collection of bronze age gold artefacts that has been described as the most important prehistoric trove in Europe – in the latest high-profile smash-and-grab heist on the continent.The raid on Thursday morning of the 66 mostly gold objects in the Spanish town of Villena lasted just minutes, officials said. Continue reading...

• Z.ai shares surged over 8% during Thursday trading following the announcement of a new AI model. • The model is specifically designed to run exclusively on Chinese-made chips, reducing reliance on foreign hardware. • The company revealed that the model has already been operating globally in "stealth mode" for one week.

• Foreign direct investment in Thailand’s high-tech manufacturing surged to $16.11 billion (530 billion baht) in the first half of 2026. • The growth is driven by global supply chain diversification and an increasing regional demand for AI hardware and data center infrastructure. • Dr. Prong Kongsubto of Lumentum International highlighted a critical shift from copper to optical signaling, creating opportunities for Thai plants to scale photonics production.

Minister calls for Instagram owner to extend sweeping new safeguards for young users to BritainUK politics live – latest updatesBusiness live – latest updatesThe UK government expects the Instagram owner Meta to roll out the same protections for children in Britain as those it agreed in the US on Wednesday, as part of a court settlement that could cost the company up to $18bn (£13bn).Pat McFadden, Labour’s work and pensions secretary, said on Thursday that he did not want young people in the US to have “a higher rate of protection” than those in Britain, after Meta settled a lawsuit brought by dozens of US states accusing the company of harming children with dangerous products. Continue reading...