Stefan Wunderlich,head of Parametric Insurance Beazley has a...
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Climate change altering laws of mortgage risk: Fitch
Fitch is now in the process of integrating physical climate risks...
UK judge warns of risk to justice after lawyers cited fake AI-generated cases in court
High Court justice Victoria Sharp said the misuse of AI has...
Park outside: Fire risk prompts Hyundai, Kia hitch recalls
The Korean automakers are recalling more than 281,000 vehicles in the US because of the problem, but they haven't figured out how to fix it yet. The automakers reported 25 fires or melting incidents in the US and Canada caused by the problem, but no crashes or...
Jury asks Ford Motor to pay $1.7 billion over an accident killing a Georgia couple
In Georgia, 75% of proceeds from punitive damage verdicts go to the state. The rest is split between the plaintiffs and the lawyers. Ford Motor Co. was told by a jury to pay more than $1.7 billion over a 2014 rollover accident that killed a Georgia couple, a lawyer...
Japan’s Hino Motors confirms a widespread data falsification scandal, suspends shipments of small trucks
Truck and bus maker Hino’s President Satoshi Ogiso told a news conference that during a transport ministry investigation additional misconduct regarding emissions was found that affects more than 76,000 vehicles Japan’s Hino Motors will suspend shipments of small...
Japanese chemical tanker ship crashes into a cargo ship off the coast of southwestern Japan
No one was injured among the six Japanese crew members aboard the tanker Ryoshinmaru and 14 Chinese crew members aboard the Belize-registered cargo ship Xin Hai 99 A Japanese chemical tanker ship crashed into a cargo ship off the coast of southwestern Japan, the coast...
Europe’s markets watchdog calls for a rethink of region’s ESG investing rulebook
At issue is the tendency of fund managers and their clients to treat the EU’s disclosure regime as an ESG labeling system. As a result, investing clients are often left with the impression that funds within a given disclosure category will deliver positive...
WTW appoints Sean Deehan as Leader of Hong Kong and Macau
Sean Deehan,Leader,Hong Kong and Macau, WTW Clare Muhiudeen, Head of Asia, WTW, said: “Hong Kong remains a major international financial centre in Asia, a gateway to and from Mainland China and a key market in our Greater Bay Area growth plans HONG KONG: WTW today...
Russia’s war at 6 months: A global economy in growing danger
The world may soon be teetering on the edge of a global recession, only two years after the last one,'' Pierre-Olivier Gourinchas, the IMF's chief economist, said. Governments, businesses and families worldwide are feeling the war's economic effects just two years...
Workers at UK’s biggest container port Felixstowe due to begin 8-day strike
Strike action will cause huge disruption and will generate massive shockwaves throughout the UK's supply chain, but this dispute is entirely of the company's own making," said Bobby Morton, the Unite union's national officer for docks. LONDON: More than 1,900 workers...
China’s cyber watchdog tries to assuage concerns of internet firms
While Didi was fined $1.2 billion last month for violating data security rules, it is not clear whether or when its apps will be allowed to return to app stores, or whether or when it can resume new user registrations BEIJING: China's cyberspace watchdog wants to...
Biden bill to help millions escape higher health care costs
The sweeping climate, tax and health care bill sets aside USD 70 billion over the next three years to keep out-of-pocket premium costs low for roughly 13 million people, just before the reduced prices were set to expire in a year beset by record-high inflation Those...