Novo Nordisk Raises 2025 Outlook Despite Wegovy Pill Miss and CagriSema Setback 
Shein Scales Back Vietnam Operations as US Trade Rules Shift 
RFK Jr. Orders Extended Hantavirus Quarantine for Cruise Passenger 
Goldman Sachs Sees US Stock Buybacks Outpacing Equity Issuance as AI Funding Rises 
DOJ Rescinds Anti-Weaponization Fund Ahead of Todd Blanche Senate Confirmation Vote 
ADNOC Gas Targets Up to $4B Profit in 2026 
Warner Bros. Discovery Shares Rise as Newsom Pushes Settlement in $110 Billion Merger Fight 
Capital One Says AML Review Led to Closure of Trump Organization Accounts 
Asian Currencies Steady as Markets Await U.S. Inflation Data 
JPMorgan Plans More Asia-Pacific Hiring in 2027 as Corporate Banking Revenue Surges 
Yen Stabilizes After Intervention Slide as Australian Dollar Hits Eight-Week High 
Alcohol is one of the most dangerous drugs, yet its presence is ubiquitous in social settings and celebrations 
Novo Nordisk Eyes Turnaround as Oral Wegovy Challenges Eli Lilly in Weight-Loss Drug Race 
France Battles Mediterranean Wildfires as Heatwave Fuels Fire Risk 
BOJ Signals Faster Rate Hikes as Inflation Risks Raise September Move Odds 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
The Iowa Supreme Court ruled that a country club and steakhouse could not recover losses they suffered due to the COVID-19 pandemic through insurance.
The inability of Wakonda Club and Jesse's Embers to properly utilize their properties when the state banned social meetings and in-person dining in 2020 did not trigger coverage under their property insurance policies, according to Iowa's highest court.
Wakonda Club's policy was issued by a unit of Selective Insurance Group Inc, and Jesse's Embers' policy was issued by Farm Bureau Financial Services.
Both businesses sought coverage after Iowa Governor Kim Reynolds issued a proclamation on March 2020 closing all bars and restaurants from dine-in or in-person service. In May 2020, it restarted limited, restricted in-person operations.
Wakonda Club claimed it was entitled to coverage under an all-risk commercial property insurance policy because the governor's proclamation amounted to a "direct physical loss of or damage to property," but Selective refused the claim.
But Justice Dana Oxley, writing for the 7-0 court, agreed Selective was off the hook, saying that Iowa law requires there to be a "physical aspect" to the loss of use of the property to satisfy the requirement of the club's policy.
Governor Reynolds' declaration, according to Oxley, was prompted by efforts to limit the spread of the COVID-19 virus, not because facilities like Wakonda Club were in imminent danger of physical violence that would result in property loss.
The verdicts were the latest in a string of setbacks for businesses around the country, which had filed hundreds of lawsuits demanding billions of dollars in compensation after governments enforced lockdowns and social gathering restrictions to slow the virus's spread.
The majority of such decisions were made by federal courts interpreting state statutes.
The ruling came after the Massachusetts Supreme Judicial Court determined in a similar case that the damages of three restaurants did not qualify as property losses needing compensation.
