According to the report, insurers that combine reusable AI...
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Govt exploring fractional aircraft ownership policy, considering aircraft as infrastructure assets: Civil Aviation Minister
Ram Mohan Naidu,Union Civil Aviation Minister Addressing the India...
Financial Stability Risks:Artificial Intelligence fuelling Cyberattacks
Anthropic’s Claude Mythos Preview highlights rapidly escalating...
PwC pays $166 million to settle HK Evergrande audit probe
PwC “turned a blind eye” to Evergrande’s fraud, the Chinese securities regulator has said. PricewaterhouseCoopers LLP agreed to pay HK$1.3 billion ($166 million) in fines and compensation to settle investigations into its auditing work for the collapsed property giant...
Goldman Sachs settles shareholder lawsuit over Malaysian 1MDB scandal
Goldman agreed in 2020 to pay $2.9 billion in penalties and have a Malaysian unit admit criminal wrongdoing to settle 1MDB probes by the U.S. Justice Department and other authorities. Goldman Sachs has agreed to settle a class-action lawsuit accusing the Wall Street...
Ex-Credit Suisse team plans $1 billion Fund for Data Center Risk
It would be the first time a product in the market for insurance-linked securities specifically targets data-center risk, according to Hilti. Euler plans to structure the vehicle as a so-called sidecar, meaning investors will take a quota share of an insurer’s risk....
Protracted closure of Hormuz may lead to a wave of disputes: CFOs
“We expect a lot of financial disputes and a lot of force majeure,” Mercuria Energy Group Ltd. CFO Guillaume Vermersch said at the Financial Times Global Commodities Summit, adding that how the situation plays out out could shape some of the firm’s profit this year....
FM meets heads of banks on AI risks following concerns over Anthropic’s Mythos
The meeting chaired by the Finance Minister deliberated on various risks that AI posed on the financial sector, sources said, adding that banks have been urged to take preemptive measures to secure their systems, data and money of customers. New Delhi:Finance Minister...
Health Insurance:A clear gap between awareness and action
A report by Niva Bupa Health Insurance highlights that health insurance ownership in India correlates more strongly with financial maturity than income levels alone. Policyholders demonstrate better financial discipline, including stronger portfolio diversification,...
AI Advatage:Leading companies focus on growth,not just productivity
``Insurance comes out as one of the stronger sectors in the survey, with solid groundwork in place for using AI. It has clear direction and strong controls around security and risk, however, it is not yet using AI as widely as the top performers. The biggest gap is...
AI defining force in risk management, improving operational efficiency, mkt surveillance: SBI Chief
"The next 25 years will not just be about scale, but about intelligent scale. Financial markets are now evolving in the fastest ways possible, becoming more interconnected and complex."CS Setty,chairman, SBI Mumbai:Artificial intelligence will play a central role in...
RBI in talks with global regulators, banks to review Mythos risks, sources say
The Reserve Bank of India's preliminary assessment - just like that of global regulators - suggests Mythos could pose cybersecurity risks by accelerating the discovery and exploitation of software vulnerabilities, the sources, all familiar with the central bank's...
US:Record drought sparks worries about fires, water supply and food prices
“Right now 61% of the country is in drought and that’s steadily been going up for the calendar year.We just haven’t seen too many springs where this amount of the country has been in this kind of shape.'' said Brian Fuchs, a climatologist with the National Drought...