Ida recovery drags for small firms amid outages and damage
Small businesses struggle after Ida with power water and internet outages. Officials warn weeks without power in parts of Louisiana and Mississippi. Ida's remnants cause rising deaths floods and property destruction on the U.S. East Coast. Fitch estimates insured losses at 15 to 25 billion, far below Katrina's 65 billion. Businesses urged to review insurance coverage for wind and storm damage.
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GM and Ford Halt Production Amid Global Chip Shortage
General Motors pauses production at eight North American plants for two weeks, including two that build the Chevrolet Silverado. Ford stops pickups at the Kansas City Assembly Plant, with shifts cut at Dearborn and Louisville truck plants. Analysts link Delta variant outbreaks in southeast Asia to plant closures, worsening a chip shortage.
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Purdue Pharma settlement ends opioid lawsuits debate
A bankruptcy judge approved a roughly $10 billion settlement with Purdue Pharma and the Sackler family, ending thousands of opioid lawsuits. Families feel conflicted as Sackler immunity from future lawsuits remains debated, with no admission of guilt and no criminal charges guaranteed. The deal closes after Purdue filed for bankruptcy amid about 3,000 suits over OxyContin.
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Industry Rankings Money fund data provided by iMoneyNet Inc.
Industry rankings reflect money market funds compiled by iMoneyNet Inc. The data segment highlights fund performance, net assets, and category standings. Analysts reference the rankings to compare yields, liquidity, and credit quality across money market offerings. The report notes methodology and scope of funds included.
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