Rio Tinto CEO Tom Albanese, right, watches as his mother, Rosemarie Helm, gavels the market closed. Photo: Richard Drew / AP

The U.S. Securities and Exchange Commission has accused Rio Tinto, one of the world's largest mining companies, and two former executives of misleading shareholders. The SEC says the UK-listed company overstated the value of a Mozambique coal mine it bought for $3.7 billion in 2011, per CNN Money. FT's Neil Hume called it "one of the worst mining deals of the decade-long commodities boom."

The allegations: The SEC alleged the company learned the value was far less about a year after the deal, but did not disclose the revelation to shareholders until 2013. The U.K. Financial Conduct Authority called Rio Tinto's failure to revalue the mine "a serious lack of judgment." Rio Tinto said it would "vigorously defend itself" in the SEC case. It settled with the FCA and is paying about $36 million. The company sold the mine in 2014 for $50 million.

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2 hours ago - Health

U.S. hits highest daily COVID-19 case count since pandemic began

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COVID Tracking Project

The U.S. confirmed at least 83,010 coronavirus cases on Friday, the country's highest daily total since the pandemic started, according to data from the COVID Tracking Project.

By the numbers: Friday's total surpassed the U.S.'s previous record set on July 17 when 76,842 cases were recorded. 

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Why it matters: At the beginning of the pandemic, the task force, led by Vice President Mike Pence, met every day, but in the "last several weeks," members have held virtual meetings once a week, Fauci said, even as the number of new cases continues to surge in the country.