insurance

Santa Clara County Sues Meta Over Alleged Profiteering From Fraudulent Advertising

May 11, 2026

1 source

Insurance Journal

Santa Clara County Sues Meta Over Alleged Profiteering From Fraudulent Advertising

Story Summary

Santa Clara County has filed a lawsuit against Meta Platforms, alleging the company knowingly profits from scam advertisements on Facebook and Instagram. The complaint claims Meta generates up to $7 billion annually from high-risk ads and intentionally limits enforcement to protect revenue. This litigation highlights growing regulatory scrutiny regarding platform accountability, generative AI safety, and the potential for tech giants.

A JPMorgan Chase-led banking group has reduced FS KKR Capital’s credit facility by $648 million, or 14%, to $4.05 billion. The move follows a $560 million first-quarter loss and an increase in non-accrual loans to 8.1%. In response, KKR announced a $300 million support package to stabilize the business development company, which is now shifting toward a smaller, less leveraged.

CNBC Finance·May 11, 2026

consumer services

Google Disrupts First Identified Zero-Day Exploit Developed With AI Assistance

Google’s Threat Intelligence Group has successfully intercepted a zero-day exploit designed to bypass two-factor authentication in an open-source system administration tool. Researchers identified clear markers of AI involvement in the Python-based script, including textbook formatting and a hallucinated CVSS score. This incident marks a significant escalation in cyber warfare, as threat actors increasingly leverage generative models to refine malicious payloads.

The Verge·May 11, 2026

commerce

Carter’s Seeks $130 Million in Government Tariff Refunds Following Q1 Earnings Report

Carter’s interim CEO Richard Westenberger announced the company has filed for approximately $130 million in government refunds related to IEEPA tariff charges. The disclosure accompanied first-quarter 2026 results, which saw net sales rise 8% to $681 million despite a 7.7% decline in net income to $14.3 million. The potential recovery represents a significant liquidity event for the retailer amid ongoing.

Retail Dive·May 11, 2026

commerce

Simon Property Group Settles Lease Disputes, Clearing Path for Saks Global Bankruptcy Exit

Simon Property Group has dropped eviction efforts against Saks Global stores, resolving critical lease disputes that threatened the retailer’s Chapter 11 restructuring. The agreement, pending court approval, grants Saks rent concessions and improved terms for multiple locations, including stores at Woodbury Common and Stanford Shopping Center. This settlement removes a significant hurdle for Saks Global, which aims to exit bankruptcy.