Wildfires and droughts are often the byproduct of extreme heat and...
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Global financial watchdogs to ramp up monitoring of AI
Banks have been broadly optimistic that AI will make them more...
Aon bolsters its broking capabilities with two senior leadership appointments
Both appointments are effective immediately, with Michelle and Lucy...
Bermuda reinsurer returns peaking, to remain favorable in 2024: Fitch
``We expect market conditions to remain favorable at the 2024 midyear renewals, although with stabilizing rates as pricing is generally sufficient. (Re)insurers are also expected to mostly maintain the tighter terms and conditions negotiated in 2023,'' said Fitch New...
Spanish court rules Facebook moderator suffered work-related mental trauma
It is the first time in Spain that a court has recognized a content moderator’s sick leave was caused by their job, said Francesc Feliu, the worker’s lawyer who is also representing around 20 other former and current content moderators at CCC on similar legal grounds...
Near record jump in CO2 emissions expected in 2024 risks climate goal
The jump is the result human-induced pollution, plus the El Niño weather pattern, which weakens the ability of the world’s natural carbon sinks to absorb CO2, according to a forecast by the UK’s Met Office Carbon dioxide emissions are on track for one of the biggest...
Hedge funds rake in huge profits betting on catastrophe risk
The best hedge fund strategy of 2023 was a bet on insurance-linked securities (of which catastrophe bonds are the dominant sub-category), which generated over 14%, according to Preqin, a consultancy that provides data on the alternative asset management industry....
Russian charter flight with 6 people disappears over Afghanistan; crash reported
Russian aviation authorities said in a statement the plane was a charter ambulance flight traveling from India, via Uzbekistan to Moscow on a French-made Dassault Falcon 10 jet manufactured in 1978 Russian aviation authorities said on Sunday a Russian-registered...
Zuckerberg’s firms fined $2.8bn for wrongful user data processing in last 4 yrs: Report
Mark Zuckerberg, CEO, Facebook "The fines levied on Meta are mainly based on the requirement for companies to store data in the country where it is collected rather than permitting unrestricted movement to global data centres," the report said New Delhi: Mark...
Traffic through the Panama Canal is being cut due to drought, disrupting global trade
On Wednesday, Panama Canal Administrator Ricaurte Vásquez said they would cut daily ship crossings to 24, after already gradually slashing crossings last year from 38 a day in normal times A severe drought that began last year has forced authorities to slash ship...
Russia allocates another $1.23 bln to company buying planes from Western lessors
Russia has allocated an additional 107.7 billion roubles ($1.23 billion) from its rainy day fund to a state company that has been purchasing aircraft from foreign lessors, the finance ministry said on Wednesday. The ministry said it had purchased bonds of NLK-Finance,...
France sees collapse in births to lowest since World War Two
The most common reasons people gave for not having more children were concerns about the economic, social and climatic outlook, cited by 30% of those polled. Some 28% said raising children cost too much PARIS: France saw the lowest number of births since World War Two...
China’s population drops for 2nd year, raises long-term growth concerns
The National Bureau of Statistics said the total number of people in China dropped by 2.75 million to 1.409 billion in 2023, a faster decline than in 2022, which was the first since 1961 during the Great Famine of the Mao Zedong era Beijing: China's population fell...