After hurricanes, rebuilding means navigating insurance claims process

Now that the threat of Hurricanes Helene and Milton has receded, millions of homeowners and business-owners across Florida and the Southeastern U.S. are faced with traversing the often long and laborious process of using insurance to rebuild their lives. Immediately after disasters like these, property insurance is likely not top of mind as people secure their safety and basic needs, but insurance claims are part of the process of resetting. Many buy the policies in hope they can help protect them when disaster strikes. But oftentimes insurance doesn't cover what the policy holder thinks it does — or thinks it should.

Walgreens to close 1,200 US stores as chain attempts to steady operations at home

Walgreens plans to close about 1,200 locations over the next three years as the drugstore chain seeks to turnaround its struggling U.S. business. The company said Tuesday that about 500 store closures will happen in its current fiscal year and should immediately help adjusted earnings and free cash flow. Walgreens leaders said in late June that they were finalizing a turnaround plan for its U.S. business, and that push could result in the closing of hundreds of underperforming stores. The company has been struggling for years with tight reimbursement for the prescriptions it sells as well as other challenges.

How the tiny Caribbean island of Anguilla has turned the AI boom into a digital gold mine

The artificial intelligence boom is providing an unusual windfall for Anguilla, a tiny island in the Caribbean. ChatGPT's debut nearly two years ago sent companies scrambling to acquire websites that end in .ai, which are controlled by Anguilla. Government revenue from web domain fees quadrupled last year to $32 million fuelled by the surging interest in AI. To help keep up with explosive growth, Anguilla said Tuesday it's signing a deal with a U.S. company, Identity Digital, to help manage the domain registrations. The company said it will protect web users against online scammers trying to take advantage of the hype around artificial intelligence.

Troubled Boeing signals it may raise up to $25 billion to shore up finances

Boeing is moving toward raising up to $25 billion to shore up its troubled financial position. The company signaled Tuesday that it could raise that much money by issuing new stock or debt over the next three years. Boeing is also entering into a new $10 billion credit agreement with leading U.S. banks. Boeing has lost more than $25 billion since the start of 2019, and now it's under pressure from a strike by union machinists who make the company's airplanes. Last week, new CEO Kelly Ortberg said Boeing will cut about 10% of its workforce – that's around 17,000 jobs.

US retail trade group expects holiday season sales to grow more slowly

NEW YORK (AP) — The largest retail trade group in the United States says it expects consumers to spend more during the upcoming holiday season but the growth in sales to be slower than last year due to concerns over persistent inflation and prices. The National Retail Federation said Tuesday that its 2024 forecast indicates shoppers will make $979.5 billion to $989 billion worth of purchases in November and December. That would represent a 2.5%-3.5% increase over the same two-month period a year ago. However, sales during the 2023 holiday shopping season were 3.9% higher than in 2022. The group makes its calculations based on government figures. The numbers exclude sales at automobile dealers, gasoline stations and restaurants.