Risk Management

No-Deal EU exit ‘Now a Very Real Prospect’, Says Head of Newly Formed Brexit Cabinet

International News       Jul 29, 2019

  UK Prime Minister Boris Johnson’s high-level Brexit cabinet holds its first meeting Monday, and will gather every day to ensure the country leaves the European Union on Oct. 31.   Michael Gove, named to a job that makes him Johnson’s top aide, will lead the sessions...

Cost of Norsk Hydro Cyber attack higher than expected at nearly $75 million

International News       Jul 24, 2019

  Aluminum producer Norsk Hydro has managed to ramp up operations at its Alunorte refinery in Brazil despite a cyber attack in March, the firm said on Tuesday, boosting its shares.   The Norwegian company’s stock rose as much as 6% in early trade after it also...

Rhine river shipping faces another historic shutdown as drought hits water levels

International News       Jul 24, 2019

  The bustling boat traffic on Europe’s Rhine river ground to a halt for the first time in living memory last year, as shrinking alpine glaciers and severe drought made the key transport artery impassable. Those historic conditions could be repeated in a few weeks.   With...

Group of German companies – including BASF, Siemens, Roche – hit by cyber attacks

International News       Jul 24, 2019

German blue-chip companies BASF, Siemens, Henkel along with a host of others said on Wednesday they had been victims of cyber attacks, confirming a German media report which said the likely culprit was a state-backed Chinese group. Public broadcaster ARD said the hackers used a...

U.S. slaps $5 billion fine against Facebook, other privacy settlement terms

International News       Jul 24, 2019

  Facebook Inc. will pay a record-breaking $5 billion fine to resolve a government probe into its privacy practices and the social media giant will restructure its approach to privacy, the U.S. Federal Trade Commission said on Wednesday.   The FTC voted 3-2 along party lines to...

Equifax’s $700 million data breach settlement includes $300 million for consumers

International News       Jul 22, 2019

Credit-reporting company Equifax Inc. will pay up to $700 million to settle U.S. federal and state probes into a massive 2017 data breach of personal information, authorities said on Monday.   The largest-ever settlement for a data breach draws to a close multiple probes into Equifax...

Inter-ministerial group suggests banning of private cryptocurrencies in India

Indian News       Jul 22, 2019

New Delhi: An inter- ministerial committee has suggested banning of private cryptocurrencies, like bitcoin, and criminalising any activities related to virtual currencies.    It, however, pitched for introduction of an official digital currency with a status of a legal tender and appropriately regulated by the Reserve...

Fed's Bullard sees cryptocurrencies shifting US financial system 

International News       Jul 20, 2019

  NEW YORK: Cryptocurrencies are changing the US currency system in ways that may facilitate illegal activity and instability in prices, St. Louis Federal Reserve President James Bullard said on Friday.    “The current situation could be described as a drift toward a non-uniform currency in the...

DGCA found safety management system of 5 airlines deficient: Govt

Indian News       Jul 17, 2019

  NEW DELHI: Aviation regulator DGCA has conducted safety audits of Air India Express, SpiceJet, AirAsia, IndiGo and GoAir and it found the implementation of their safety management system "to be deficient", the government informed Rajya Sabha Wednesday.   Civil Aviation Minister Hardeep Singh Puri said the...

More than one in 10 firms losing over $10 million due to cyberattacks:Willis Towers Watson

International News       Jul 17, 2019

  ASIA: Annual losses from cyberattacks averaged $4.7 million in the last fiscal year — with more than one in 10 firms losing over $10 million —according to a new report from   The Cybersecurity Imperative, a global thought leadership program produced by independent researcher ESI ThoughtLab...