The proposal submitted by Bahrain, Japan, Panama, Singapore and...
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X hit by major global outage; thousands of users affected
On the mobile application, logged-in users found themselves unable...
Hormuz traffic plunges sharply, daily vessel crossings drop to 10 from 135 in Feb: S&P Global Energy
The slowdown has led to severe congestion, with around 850 oil...
Catastrophe bonds dodge worst-case scenario after Milton
Overall, Icosa Investments AG now sees insured losses in the range of $20 billion to $60 billion, meaning cat-bond investors look to be facing a maximum hit of 4%. On Wednesday, before Milton landed, Icosa warned that a direct hit to Tampa threatened to cause insured...
World’s rivers faced the driest year in three decades in 2023, the UN weather agency says
“Water is the canary in the coalmine of climate change. We receive distress signals in the form of increasingly extreme rainfall, floods and droughts which wreak a heavy toll on lives, ecosystems and economies,” said WMO Secretary-General Celeste Saulo, releasing the...
Lloyd’s of London must stop supporting fossil fuel expansion says NGO
“Lloyd’s will continue to follow government policy and regulatory requirements globally, while remaining committed to support an urgent and orderly just transition and remain agile in response to external shocks,” the emailed statement said. London: The Lloyd’s of...
Russian strikes on Ukraine’s ports and ships push insurance rates up
Insurance sources said on Thursday the war premiums had jumped around 30% this week to just over 1% of the value of the vessel from around 0.7% in early September, which would mean hundreds of thousands of dollars in extra costs A series of Russian missile strikes on...
US considers asking court to break up Google as it weighs remedies in the antitrust case
In court papers filed late Tuesday, government lawyers outlined a series of potential remedies it may pursue, including restrictions on how Google’s artificial intelligence mines other websites to deliver search results, and blocking Google from paying companies like...
Global emissions likely have peaked as renewables rise
The cost of deploying solar panels and battery technology is due to drop by 19% by 2030, helping deliver record amounts of low carbon power. Renewables are due to grow to 2.2 times by 2030, well below the tripling set out during the COP28 United Nations Climate Change...
Catastrophe bond investors brace for major losses as Milton rages
Catastrophe bonds, or cat bonds as they’re known in the industry, are issued by insurers and reinsurers to provide financial protection against the most severe natural disasters. Investors who buy the bonds stand to make large gains if a predefined event doesn’t...
Hurricane Milton could cost insurers up to $100 billion, analysts say
The Category 5 hurricane is due to make landfall on the Gulf Coast of Florida late on Wednesday or early Thursday, and is potentially one of the most destructive ever to hit the region, which is still recovering from devastation caused by Hurricane Helene less than...
Google loses final EU court appeal in $2.7 bn antitrust shopping case
The European Union's Court of Justice upheld a lower court's decision, rejecting the company's appeal against the 2.4 billion Euro ($ 2.7 billion) penalty from the European Commission, the 27-nation bloc's top antitrust enforcer Google lost its final legal challenge...
TikTok sued by 13 US states and DC, accused of of harming younger users
TikTok said on Tuesday that it strongly disagreed with the claims, “many of which we believe to be inaccurate and misleading,” and that it was disappointed the states chose to sue “rather than work with us on constructive solutions to industrywide challenges” TikTok...