EU firms are involved in an array of service provision for Russia...
Category:
International News
Latest
Rise of autonomous vehicles to impact $400 billion US auto-insurance industry, says Goldman Sachs
“Autonomy has the potential to significantly reduce accident...
ChatGPT suffers global outage including in India, OpenAI ‘investigating’
"We are investigating," said the company. About 88 per cent of...
Yellen warns climate change could trigger asset value losses, harming US economy
"As climate change intensifies, natural disasters and warming temperatures can lead to declines in asset values that could cascade through the financial system. And a delayed and disorderly transition to a net-zero economy can lead to shocks to the financial system as...
Biden proposes to raise taxes on high earners to avert Medicare funding crisis- WaPo
The White House's proposal would raise the net investment income tax, created by the Affordable Care Act, from 3.8% to 5% for all Americans earning more than $400,000 per year, according to the report. The White House will propose raising taxes on people earning more...
Fed likely needs to raise rates higher and possibly faster, Powell tells lawmakers
Federal Reserve Chair Jerome Powell “From a broader perspective, inflation has moderated somewhat since the middle of last year but remains well above the FOMC’s longer-run objective of 2 percent,” Powell said in his prepared remarks released in Washington. Federal...
Swiss Re closes second alternative capital transaction with J.P. Morgan
Philipp Rüede, Head of Swiss Re Alternative Capital Partners, said: "This deal also represents another important step on Swiss Re's Alternative Capital Partners' journey, where we are increasingly using alternative capital to address our wider capital management...
China to deepen financial reform, open to more foreign investment
"We need to deepen reform of the financial system, improve financial regulation, and see that all those involved assume their full responsibilities to guard against regional and systemic financial risks," Premier Li Keqiang Beijing: China will deepen financial reform...
El Nino expected to return, likely to fuel spike in global temperatures
La Nina refers to the large-scale cooling of the ocean surface temperatures in the central and eastern equatorial Pacific Ocean, coupled with changes in the tropical atmospheric circulation The El Nino event may develop after three consecutive years of an unusually...
Global energy-related CO2 emissions edged up to record high in 2022 – IEA
"We still see emissions growing from fossil fuels, hindering efforts to meet the world’s climate targets," IEA Executive Director Fatih Birol said in a release alongside the report. LONDON: Global energy-related emissions of carbon dioxide hit a record high last year,...
Insurers pay Bangladesh owner $22.48 mln after ship explosion in Ukraine
Insurance was provided by Dhaka-based Sadharan Bima Corp. and reinsured through Lloyd’s of London player Beazley and broker Tysers, they added “All the formalities with the reinsurer are done. The amount will be remitted by tomorrow, if not today,” Syed Belal Hossain,...
Canopius expands APAC footprint with Melbourne office launch
Canopius will initially underwrite casualty business from Melbourne and broaden its offering as the business grows, with plans already underway to make new hires in the coming year. SINGAPORE: Canopius Group, a leading global specialty (re)insurer, today announced the...
US urges Microsoft, Twitter to strengthen Cyber security
“Technology manufacturers must take ownership of the security outcomes for their customers.Microsoft, Twitter and other technology companies should by default enroll users in basic safeguards such as multifactor authentication,” Jen Easterly, director of the...