The Competition Commission of India (CCI) in August ordered a...
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Developing nations blast $300 billion COP29 climate deal as insufficient
The showdown over financing for developing countries comes in a...
AM Best maintains outlook for global reinsurance industry to positive
Property reinsurance rates and terms have been relatively stable...
Some EU insurers relied on relief measures during stress test, says watchdog
Industry body Insurance Europe said the results confirm the sector's ability to meet promises to customers under extreme 1 in 1,000 year events The next test for insurers, which could include climate-related elements, won't be until 2023 The test covered 44 insurers...
France says facial recognition company Clearview breached privacy law
The CNIL stressed that Clearview's collection of publicly-available facial images on social media and the Internet had no legal basis and breached European Union rules on data privacy. France's data privacy watchdog CNIL has ordered Clearview AI, a facial...
Refugees lack COVID shots because drugmakers fear lawsuits
So far there is scant information on COVID vaccine litigation, but claims made to out-of-court compensation programmes are one measure of the risk. A programme in the United States has so far not paid out anything, public data show; neither has one set up by the WHO...
Global community steps up with $93 billion support package to boost resilient recovery in World’s poorest countries
The funds will be delivered to the world’s 74 poorest countries under the 20th replenishment (IDA20) program, which focuses on helping countries recover from the impacts of the COVID-19 crisis. In these countries, the ongoing pandemic is worsening poverty, undermining...
US health tab hit $4T as gov’t opened spigot to fight COVID
The $4.1 trillion tab for 2020 represents an increase of about $365 billion from national health spending in 2019. It works out to $12,530 per person Washington:U.S. health care spending rocketed to $4.1 trillion last year as Congress opened the spigot of federal...
Cryptocurrencies a challenge for emerging markets, regulation needed: IMF chief economist
Gita Gopinath,Chief Economist,International Monetary Fund ''I think cryptocurrencies are a particular challenge for emerging markets. It seems to be more attractive to adopt cryptocurrencies and assets in emerging economies than in advanced economies,'' she said while...
Swiss Re appoints Pravina Ladva as Group Chief Digital & Technology Officer and reorganises Group Operations
Pravina Ladva, Group Chief Digital & Technology Officer, Swiss Re All technology-related responsibilities of Swiss Re will be bundled under the leadership of Pravina Ladva Zurich: Swiss Re announced today the appointment of Pravina Ladva as Group Chief Digital...
Insurance industry joins initiative for decarbonising global shipping
"The disclosure framework provided by the Poseidon Principles will enable us to credibly report our progress towards net-zero insurance using granular marine data," Patrizia Kern, marine head at Swiss Re Corporate Solutions, said in a statement Other insurers and...
IMF warns of interest rate risks as global debt hits $226 trillion
Government borrowing accounted for slightly over half of the $28 trillion increase, but private debt among non-financial corporations and households also hit new highs. Global debt surged to $226 trillion last year, its biggest one-year jump since World War Two, and...
Tesla hit by string of US sex harassment lawsuits
"Tesla's factory floor more resembles a crude, archaic construction site or frat house than a cutting-edge company in the heart of the progressive San Francisco Bay area," several of the suits claim The lawsuits -- filed within a month of two others -- add to the...