Madoff’s fraud was estimated as much as $64.8 billion, making it...
Category:
International News
Latest
HK startup aims to launch satellites for 3D wind data, report
The satellites should be able to provide global coverage of data...
Australia sues Microsoft over AI-linked subscription price hikes
The Australian Competition and Consumer Commission (ACCC) alleged...
Japan unexpectedly slips into recession, Germany now world’s third-biggest economy
"What's particularly striking is the sluggishness in consumption and capital expenditure that are key pillars of domestic demand," said Yoshiki Shinke, senior executive economist at Dai-ichi Life Research Institute Tokyo: Japan unexpectedly slips into recession,...
Wipro invests $66 million in US insurtech Aggne
EAST BRUNSWICK, N.J/TAMPA, Fla/ BENGALURU: “The Aggne team has a deep and well-established experience in the P&C insurance space. Their unique IP and modular approach to implementations significantly accelerate time-to-market, driving faster business outcomes and...
Canada’s Fairfax denies Muddy Waters’ short report in expanded rebuttal
Fairfax said Muddy Waters neither called it nor wrote to it, and instead released the report during its quiet period with its “one-sided, ill-informed allegations and insinuations in a transparent attempt to profit by short selling our stock.” Fairfax Financial on...
ACORD announces new global advisory council to drive industry-wide collaboration and digitalisation
“With the accelerating pace of digital transformation in our industry, the formation of the ACORD Global Advisory Council is a timely and significant step towards increasing collaboration and alignment within leading insurance markets around the world. I look forward...
EU to probe TikTok faces over risks to minors, may pay hefty fines
The bloc singled out 19 online platforms and search engines last year as large entities worthy of scrutiny and has been quizzing them for information. That includes X, Meta Platforms Inc., Alphabet Inc. and others with more than 45 million monthly active users in...
Marine insurers continue to support trade in the Red Sea & Black Sea
The impact on Suez Canal transits and global supply chains are significant but this has not affected the ability of the marine insurance market to provide adequate cover – both for Red Sea/Suez Canal transits or for the longer route around the Cape of Good Hope,...
Amid political uncertainty, Pak biz tycoons shift business to Dubai
The political and economic uncertainties along with the deteriorating law and order situation frightened the business community who regularly pay ‘extortion money’ to one or another group in Karachi, Dawn reported Karachi: During the past 20 months, Pakistani...
Britain’s financial regulators need ‘ambitious mindset’, says industry leader
“At Lloyd’s, we have the capacity and expertise to evaluate and approve a new underwriting syndicate within 30 days, but the external regulators require many months more before making a decision, causing businesses to set up outside the UK,” said Carnegie-Brown,...
Brazil subsidised rural insurance for Amazon deforested land
Among the companies cited by Repórter Brasil was a unit of Japan’s Tokio Marine Holdings Inc. In 2020, it provided policies to landowners in Mato Grosso, Brazil’s largest crop-producing state. About 70% of the property covered by the insurance was embargoed due to...
Climate change drives world to first 12-month spell over 1.5C
Already 2023 was the planet's hottest year in global records going back to 1850, as human-caused climate change and El Nino, the weather pattern that warms the surface waters in the eastern Pacific Ocean, pushed temperatures higher "We are heading towards a...