International News

U.S. investigating lung diseases linked to e-cigarettes

Eco/Invest/Demography, Health       Aug 19, 2019

  The U.S. Centers for Disease Control and Prevention is investigating a “cluster” of lung illnesses that it believes may be linked to e-cigarette use after such cases were reported in 14 states.   The CDC said there was no evidence that an infectious disease was behind...

Novo Nordisk to fight Danish shareholder lawsuit seeking $1.75 Billion

Eco/Invest/Demography, Risk Management       Aug 19, 2019

  Danish insulin-maker Novo Nordisk said it would fight a lawsuit filed in a Danish court on Friday which alleges the company made misleading statements about its insulin business in the United States, the company said in a statement.   “Novo Nordisk disagrees with the allegations and...

Leaked document warned of fuel, food, medicine shortages if No-Deal Brexit

Eco/Invest/Demography       Aug 19, 2019

London: Britain will face shortages of fuel, food and medicine if it leaves the European Union without a transition deal, according to leaked official documents reported by the Sunday Times whose interpretation was immediately contested by ministers.   Setting out a vision of jammed ports, public...

ADB Introduces Contingent Disaster Financing for Natural Disasters

  MANILA: The Asian Development Bank (ADB) has introduced a new financing mechanism—contingent disaster financing (CDF)—to support its developing member countries in strengthening disaster preparedness and provide quick-disbursing budget support following natural disasters.   “CDF will provide a quick and flexible source of funds for developing member...

Brexit minister signs order to end all EU laws in Britain

Eco/Invest/Demography, Non-Life, Reinsurance       Aug 18, 2019

  LONDON: Brexit Secretary Stephen Barclay has signed an order that will end all European Union (EU) laws applying in Britain from October 31, the British government said on Sunday.  Barclay has signed into law the legislation to repeal the Act of Parliament which set in...

Facebook warned its employees, not users, about 2018 breach, Lawsuit says

Risk Management, Technology       Aug 17, 2019

  Facebook users suing the world’s largest social media network over a 2018 data breach say it failed to warn them about risks tied to its single sign-on tool, even though it protected its employees, a court filing on Thursday showed.   Single sign-on connects users to...

Walmart CEO calls for US Congress to debate assault weapons ban

Non-Life, Risk Management       Aug 16, 2019

  In the wake of a mass shooting at a Walmart Inc. store, Chief Executive Officer Doug McMillon called for an assault weapons ban to be debated by Congress and said he’s encouraged by growing support for gun-control measures like background checks.   America’s largest retailer has...

Major Bluetooth bug leaves devices vulnerable

Risk Management, Technology       Aug 17, 2019

  Bluetooth SIG, the organisation that oversees the technology's standards, has reportedly issued a security notice about a vulnerability that leaves devices vulnerable to what is called as Key Negotiation of Bluetooth or KNOB attack.   As Engadget reports, the KNOB attack allows hackers to interfere with...

General Electric engaged in 'bigger fraud than Enron': Whistleblower

Non-Life       Aug 17, 2019

  Boston: A whistleblower has accused General Electric (GE) of hiding massive losses by engaging in a $38 billion accounting fraud, which is "bigger than Enron".    In his report this week, investigator Harry Markopolos accused GE of utilising many of the same accounting tricks as Enron...