International News

US Regulators disagree over giving Fintechs Federal Charter to skirt State Rules

The U.S. Federal Reserve is wary of giving “fintech” firms such as OnDeck Capital Inc. or Kabbage Inc. access to the country’s financial infrastructure, putting the central bank at odds with other regulators looking to bring them into the fold.   The Office of the Comptroller...

``Rising geopolitical and geo-economic tensions are the most urgent risk in 2019''

    Mumbai: According to the the World Economic Forum’s Global Risks Report, rising geopolitical and geo-economic tensions are the most urgent risk in 2019, with 90% of experts saying they expect further economic confrontation between major powers in 2019.   The report released on Wednesday said environmental...

Cyber joins Business Interruption as leading Global Risk for first time: Allianz

  NEW YORK: In the wake of mega data breaches and privacy scandals, major IT outages and the introduction of tighter data protection rules in the European Union and other countries, cyber risk is now a core concern for businesses in 2019 and beyond.   According to...

65% chance that weak El Niño will emerge in Spring, U.S. Weather Service

  There is a 65 percent chance of an El Niño weather pattern emerging during the northern hemisphere spring this year, a U.S. government weather forecaster said on Thursday.   “However, given the timing and that a weak event is favored, significant global impacts are not anticipated...

US: Drug advertising drives $30 bn Medical Industry marketing machine

Eco/Invest/Demography, Health       Jan 11, 2019

  Ads for prescription drugs appeared 5 million times in just one year, capping a recent surge in U.S. medical marketing, a new analysis found. The advertisements for various medicines showed up on TV, newspapers, online sites and elsewhere in 2016. Their numbers soared over 20...

Fiat Chrysler to pay $700M to U.S., States, car owners over diesel emissions claims

Non-Life, Risk Management       Jan 11, 2019

Fiat Chrysler Automobiles NV will pay more than $700 million to resolve lawsuits from the U.S. Justice Department and diesel owners over claims it used illegal software to allow 104,000 diesel vehicles to emit excess emissions, three people briefed on the matter said on Wednesday.  ...

Colorado Man Sentenced to 76 yrs of prison for $16mn securities fraud over Insurance Marketing Organisations

Risk Management       Jan 09, 2019

  A Colorado man has been sentenced to 76 years in prison for securities fraud over soliciting investments for insurance marketing organizations.   The Denver Post reported 59-year-old Kelly James Schnorenberg was sentenced last month after a Douglas County District Court jury convicted him in October on...

Sharing Safety:Toyota offers Its Driver Assistance Technology to Competitors

Non-Life, Risk Management, Technology       Jan 09, 2019

  Las Vegas: Toyota Motor Corp. — in an unusual move for the cut-throat car business — has decided to share with rivals an automated safety system that uses self-driving technology to keep cars from crashing.   The system, known as Guardian, will take control of a...

Los Angeles sues IBM’s Weather Channel for use of location tracking

  Los Angeles : The city of Los Angeles is suing International Business Machines Corp.’s Weather Channel unit, accusing the company of misleading consumers about how their location data was being used.   In a complaint filed Thursday [Jan. 3] in California state court, the city alleges...