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Spain fines Booking.com $448 million for abusing dominant position
Booking Holdings intends to appeal the fines as it strongly...
Global accounting body wants more rigour in showing climate impacts
Investors have said they want to know whether assets will retain...
Official: China’s growth likely to slow due to virus, floods
China’s economy still is in a “recovery trend” from last year’s pandemic-induced slowdown but is likely to weaken after a relatively strong first half, said Fu Linghui, a spokesman for the National Bureau of Statistics.
“This year’s main economic growth trend will be low after high,” Fu said at a news conference.
7.2 magnitude earthquake hits Haiti; at least 304 killed
The epicenter of the quake was about 125 kilometers (78 miles) west of the capital of Port-au-Prince, the US Geological Survey said, and widespread damage was reported in the hemisphere’s poorest nations as a tropical storm also bore down.
Haiti’s civil protection agency said on Twitter that the death toll stood at 304, most in the country’s south. Rescue workers and bystanders were able to pull many people to safety from the rubble. The agency said injured people were still being delivered to hospitals
Aviva to refund at least $5.6 billion to investors after rationalising its global spread
Since joining Aviva just over a year ago, Blanc has focused the firm on its U.K., Ireland and Canada businesses while selling off eight units in other markets. The firm has retained operations in China, India and Singapore
Hottest record temperature hits Italy
Temperatures there reached 48.8 degrees Celsius (119.8 Fahrenheit) on Wednesday, Sicily’s weather service said. That — if officially verified — would top the record of 48 degrees set in Athens in 1977, according to World Meteorological Organization data posted by Arizona State University.
Retail sector top target for ransomware attack in 2020: Report
“The retail sector has always been an attractive target for cyberattacks, with its complex, distributed IT environments, including a multitude of connected point-of-sale devices, a relatively transient and non-technical workforce, and access to a wide range of personal and financial customer data,” said Chester Wisniewski, principal research scientist at Sophos, in a statement.
Worst Algeria wildfires in decades kill 65
While wildfires are a relatively regular occurrence in Algeria, this week’s were the country’s biggest and deadliest in several decades. President Abdelmadjid Tebboune announced three days of national mourning on Wednesday.French-language TSA Algerie, which visited Kabylie on Wednesday, said the wildfires left a trail of desolation all along the usually lush road linking Tizi Ouzou to Bouira. Several villages were abandoned.
Severe weather events drive global insured cat losses of $ 42 billion in first half of 2021, Swiss Re
Jérôme Jean Haegeli, Swiss Re’s Group Chief Economist, said: “Climate change is one of the biggest risks facing society and the global economy. The recent analysis from the UN’s Intergovernmental Panel on Climate Change confirms expectations of more extreme weather in the future and urgency to act to limit global warming. Working with the public sector, the re/insurance industry plays a key role in helping to strengthen communities’ resilience by steering development away from high-risk areas, making adaptation investments, maintaining insurability of assets and narrowing protection gaps.“
China steps up crackdown on insurance technology companies
The online insurance industry had been expected to grow to 2.5 trillion yuan ($385 billion) in a decade.
Gallagher to acquire Willis Towers Watson plc Treaty Reinsurance Brokerage operations
Willis Re’s treaty reinsurance business operates in 24 countries, places over $10 billion of premium annually and represents over 750 insurance and reinsurance company clients.
Sompo Global Risk Solutions to offer Epidemic and Pandemic protection
Triggered by civil authority restriction resulting from international public health emergencies declared by the World Health Organization, the new Sompo GRS Epidemic and Pandemic Protection Program provides insurance based on a number of available pre-set coverage options including loss of income, extra expense, debt servicing, supply chain disruption and other fixed costs.
In its first year, limited capacity for the program is available to Sompo GRS clients and their captives in the real estate, hospitality, financial services, professional services, technology and life sciences industries, as well as the unit’s Asian-interest accounts.