International News

Stall-prevention system got activated on its own, says Boeing crash probe

Non-Life       Mar 30, 2019

The stall-prevention system on a Boeing 737 Max jet automatically switched on before the plane crashed in Ethiopia this month, the Wall Street Journal reported, citing initial findings from the plane’s flight data.   The conclusion was relayed at a briefing at the US Federal Aviation...

US Judge allows suit against Nestle over its claim on Poland Spring Water

Risk Management       Mar 29, 2019

A federal judge on Thursday rejected Nestle SA’s bid to dismiss a revised lawsuit claiming that it defrauded consumers by filling bottles of its Poland Spring water with ordinary groundwater.   U.S. District Judge Jeffrey Alker Meyer said consumers from eight northeastern states may pursue claims...

Diseases cost the African Region $2.4 trillion a year, says WHO

Eco/Invest/Demography, Health       Mar 29, 2019

   Praia, Cabo Verde: The World Health Organization (WHO) estimates that nearly 630 million years of healthy life were lost in 2015 due to the diseases afflicting the population across its 47 Member States in Africa, now amounting to a loss of more than 2.4 trillion...

AT&T is using models to prepare for natural disaster costs

  AT&T paid Argonne $375,000 to model flooding, hurricane and wind storms at the neighborhood level in Florida, Georgia, North Carolina and South Carolina, according to Charlene Lake, the company’s chief sustainability officer and senior vice president for public affairs.   She said the next step is...

Bayer must pay $80 mn in Monsanto roundup cancer trial, says US Jury

Health, Risk Management       Mar 29, 2019

A U.S. jury on Wednesday awarded $80 million to a man who claimed his use of Bayer AG’s glyphosate-based weed killer Roundup caused his cancer, in the latest legal setback for the company facing thousands of similar lawsuits.   The jury in San Francisco federal court...

China pledges to 'sharply' expand financial market opening as trade talks loom

Eco/Invest/Demography       Mar 28, 2019

  BOAO, China: China will sharply expand market access for foreign banks and securities and insurance companies, especially in its financial services sector, Premier Li Keqiang said on Thursday.The government will also work on more favorable policies for foreign investors to trade Chinese bonds, Li said...

Japan extends state-backed insurance for Iran oil imports-govt official

      Mar 28, 2019

TOKYO: Japan has extended state-backed insurance to cover imports of oil from Iran, potentially allowing the country’s refiners to continue loading crude cargoes from the Middle Eastern nation, a government official told Reuters on Thursday.   The rollover of the insurance was approved by parliament on...

Lloyd's of London suffers 1 billion pound loss in 2018

Reinsurance       Mar 27, 2019

London: Loyd's of London recorded a loss of 1 billion pounds in 2018 due to major natural catastrophes, it said on Wednesday.   The 330-year old insurance market suffered a 2 billion pound loss in 2017.   A string of natural catastrophes around the world, including hurricanes...

Lloyd's of London issues anti-harassment plan

Risk Management       Mar 26, 2019

London: Lloyd’s of London outlined a plan to address allegations of sexual harassment by setting up an independent whistleblower hotline and laying out potential lifetime bans for inappropriate behaviour.   The proposals were agreed upon at an emergency meeting of industry executives convened on Monday evening...