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Power outage hits large parts of Spain and Portugal
Officials said the possibility that it was caused by a cyber attack...
Solid monetary frameworks helped emerging markets navigate recent crises: Gita Gopinath
Gita Gopinath,Chief Economist,IMF IMF chief economist Gita Gopinath...
Aon launches dedicated unit to drive climate analytics and advisory into multiple sectors
More than 400 natural catastrophes caused $313 billion of damage worldwide in 2022 As climate change drives new extreme weather records, organizations need to better quantify the impact of climate risk. Aon's Climate Risk Advisory to help clients meet their reporting...
Fed raises rates, opens door to pause in tightening cycle
Fed Chair Jerome Powell The change doesn't foreclose the central bank's policy-setting committee from hiking rates again when it meets in June, but Fed Chair Jerome Powell said it was now an open question whether further increases will be warranted in an economy still...
El Nino likely to return this year, fuelling global temperatures – WMO
"El Nino will fuel the temperature globally," he said. "We feel the effect of El Nino temperatures globally with a slight delay" The El Nino weather pattern is likely to develop later this year and could contribute to rising global temperatures, the World...
Burning oil tanker off Malaysia raises safety concern about shadow fleet
A vast shadow fleet of aging tankers has been enlisted to carry sanctioned oil across the globe, raising questions about safety and insurance standards Three crew members are missing from a Gabon-registered tanker that caught fire on Monday in the South China Sea, a...
Credit Suisse AT1 bondholders who lost $1.7 billion in UBS Deal file lawsuits
The latest claims mean that investors representing more than a third of the $17 billion in AT1 bonds issued by Credit Suisse have now sought to get their money back. US law firm Quinn Emmanuel last month filed a claim in Swiss court representing more than 400...
Oil tanker seized by Iran had Indian crew, says operator
The seizure underscores continued tensions in a vital corridor for oil tankers. Hundreds sail through the Gulf of Oman each month, on their way to and from the Persian Gulf and some of the world’s biggest oil-exporting nations such as Saudi Arabia, Iraq and Kuwait...
Executive bonuses in crosshairs under new EU ESG rules
C-suite managers at companies with more than 1,000 employees will be held personally responsible if trajectories for emissions cuts don’t align with the objective of limiting global warming to 1.5C, according to the current text of the Corporate Sustainability Due...
Sergio P. Ermotti to step down as Swiss Re chairman on 30 April, to handover charge to vice chairman Jacques de Vaucleroy
Sergio P. Ermotti, chairman, Swiss Re Jacques de Vaucleroy, Vice Chairman and Lead Independent Director, is leading the search for a successor and will chair the Board in the interim Zurich: Swiss Re announced today that Sergio P. Ermotti will step down as Chairman of...
Private health care booms in UK as state-run health service buckles
Private health care procedures paid out of pocket have risen more than 33% since before the pandemic, according to Private Healthcare Insurance Network data comparing the third quarter of last year with the same period in 2019 British patients are turning to private...
EU lawmakers back human rights, environmental checks for big companies
EU lawmakers backed a legal requirement for directors of companies with over 1,000 staff to be responsible for implementing a plan for cutting carbon emissions. Member states will have to set out penalties for breaches European Union lawmakers on Tuesday backed rules...