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Catastrophe bond investors brace for Jamaica payout
Depending on exactly where Melissa hits Jamaica, total losses may...
Cyclone Montha: Two dead in Andhra, crops suffer damage, CM Naidu says state minimised loss
N Chandrababu Naidu,Chief Minister , Andhra Pradesh Citing...
Ship insurance facility set up for Ukraine grain exports, says broker Miller
London-headquartered Miller said it had teamed up with British maritime technology company Clearwater Dynamics (CWD) to develop a war risks insurance facility for grains shipments via three ports including Chornomorsk as well as Odesa and Pivdennyi “The three main...
Musk’s X is the biggest purveyor of disinformation, EU official says
Ahead of upcoming elections, Google, TikTok, Microsoft and Meta also have more to do to tackle disinformation, much of it coming from Russia, which is using social media to wage a "war of ideas'' against democracy, European Commission Vice President Vera Jourova said...
JPMorgan pays $75 million to settle lawsuit over Jeffrey Epstein ties
US Virgin Islands Attorney General Ariel Smith said the settlement was a "historic victory for survivors and for state enforcement, and it should sound the alarm on Wall Street about banks' responsibilities under the law to detect and prevent human trafficking." Last...
Britain proposes diversity and misconduct rules for financial firms
“Regulated firms and individuals should have no doubt that this represents a big shift in the way the FCA will monitor and potentially sanction those in the financial community,” said James Alleyne, a legal director at Kingsley Napley law firm London: Britain’s...
Aviva to buy AIG’s UK life insurance business for $563 million
The transaction will add 1.3 million individual protection customers and 1.4 million group protection members, Aviva said, with the deal expected to close in the first half of 2024, subject to regulatory approvals. London: Aviva said on Monday it had agreed to buy the...
Three-quarters of companies globally are not ready for ESG rules: KPMG Report
“Now there will be regulatory and assurance requirements to report accurate information, which raises the bar on controls and processes as well as qualitative statements that will need to be made around the data,” Mike Shannon, Global Head of ESG Assurance at KPMG,...
US urges court to consider Amazon.com asset sales for breaking antitrust law
“The FTC and its state partners say Amazon’s actions allow it to stop rivals and sellers from lowering prices, degrade quality for shoppers, overcharge sellers, stifle innovation, and prevent rivals from fairly competing against Amazon,” the agency said in a statement...
Cough syrup deaths overseas prompt US crackdown on toxic testing
Cough syrups made in India and Indonesia have been linked to deaths of more than 300 children globally. The medicines were found to contain high levels of DEG and EG, leading to acute kidney injury and death. The poisonings have sparked criminal probes, lawsuits and a...
OpenAI CEO says possible to get regulation wrong, but should not fear it
Sam Altman, CEO,ChatGPT “Models that are like 10,000 times the power of GPT4, models that are like as smart as human civilization, whatever, those probably deserve some regulation,” The CEO of ChatGPT maker OpenAI said on Monday that it was possible to get regulation...
US energy regulator recommends revising reliability standards for extreme weather
FERC said the report recommends completing cold weather reliability standard revisions from Winter Storm Uri in 2021 – which resulted in the largest controlled blackout in U.S. history – and making U.S. natural gas infrastructure more reliable The Federal Energy...