Day: September 24, 2020

Stocks dip, dollar up as data warns of sputtering recovery

NEW YORK (Reuters) – Shares dipped and the dollar ticked up near two-month highs on Wednesday as data reaffirmed lingering concerns that new restrictions to counter coronavirus infections will hurt the economic recovery.

The speed of recovery in U.S. business activity slowed down in September, with gains at factories more than offset by a retreat at services industries, suggesting a loss of momentum in the economy as the third quarter draws to a close and the COVID-19 pandemic lingers.

September surveys of private sector activity also painted a gloomy picture in Europe, with rising COVID-19 infections leading to a downturn in services industries.

U.S. stocks had opened higher, tracking Europe, but turned negative after the morning data.

The Dow Jones Industrial Average .DJI fell 5.87 points, or 0.02%, to 27,282.31, the S&P 500 .SPX lost 11.41 points, or 0.34%, to 3,304.16 and the Nasdaq Composite .IXIC dropped 67.08 points, or

Read More

COVID-19 Sparks Spike In Insurance Litigation Filings

Law360 (September 18, 2020, 5:44 PM EDT) — Federal district courts saw a surge in insurance litigation case filings in the first half of the year, due in large part to the explosion in suits by businesses seeking coverage for losses they have suffered amid the COVID-19 pandemic, according to a new report by Lex Machina.

From January through June, litigants filed a total of 5,844 new insurance cases in district courts, up 11% from the 5,265 cases filed over the same time period in 2019, Lex Machina found. This surge continued a pattern of growth in insurance-related litigation over the past several years; according to the report, from 2017…

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat

Read More