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McKinsey sees AI surge boosting consulting amid industry slump
Among those deploying automation rapidly are the traditional and...
Severe typhoon set to disrupt flight, train services in Japan
Disruptions from tropical storms this time of year have become an...
FACTBOX-How Big Tech is faring against U.S. lawsuits and probes
The U.S. Justice Department sued Google in October, accusing the $1 trillion company of illegally using its market muscle to hobble rivals. A trial date was set for Sept. 12, 2023. A lawsuit by 38 U.S. states and territories accuses Google of abusing its market power to try to make its search engine as dominant inside cars, TVs and speakers as it is in phones. This was consolidated with the federal lawsuit for purposes of discovery.
Coronavirus outbreaks at the Tokyo Olympics
A number of cases have emerged involving athletes and other people involved with the Games.Postponed last year due to the COVID-19 pandemic, the Games have little public support in Japan amid fears about the spread of the virus.
Tokyo entered its fourth state of emergency earlier this week amid a rebound in COVID-19 cases that pushed Games organisers to ban spectators from nearly all venues.
WHO experts seek limits on human gene-editing experiments
Their recommendations, made after two years of deliberation, aim to head off rogue science experiments with the human genome, and ensure that proper uses of gene-editing techniques are beneficial to the broader public, particularly people in developing countries, and not only the wealthy.
Marine, aviation and transit insurance in Asia-Pacific to reach US$14.5bn by 2025, forecasts GlobalData
Japan and China, which are among the top five global markets, collectively accounted for 60% of Asia-Pacific’s premiums in 2020. China’s intricate presence in global supply chain and its growing airline and marine fleet are strong growth drivers for insurers.
Asia-Pacific has also seen several insurers withdrawing from MAT industry due to years of unsustainable losses resulting from both man-made and natural hazards and bottomed out premium prices which resulted in reduced market capacity.
Flooding affects parts of Europe after heavy rainfall
German government spokesman Steffen Seibert described the images from regions hardest hit by flooding as “terrible”.
“Even though not every event, not every flooding or local incident, is related to climate change, many scientists tell us that the frequency, the intensity and the regularity with which this happens is a consequence of climate change,” Seibert said.
U.S. drug overdose deaths rise 30% to record during pandemic
“We do know the primary driver of the increase (in deaths) involves synthetic opioids, primarily fentanyl,” Bob Anderson, chief of the Mortality Statistics Branch at the health statistics center, said.
Covid-19 Risks: Cyber-attacks and Data loss top concerns facing Directors & Officers: Report
Jennifer Tiang, Regional Cyber Leader for Asia at Willis Towers Watson, said: “The survey results reflect the growing realisation that cyber risk is not simply an issue to be handled by an organisation’s IT team. It is a much broader issue cutting across all spheres of business and necessarily draws together stakeholders from risk, legal and IT teams, as well as requiring awareness of all employees from the ground up and board oversight from the top down. From cyber-attack to data loss, the financial impacts of a cyber event can be catastrophic.”
Crowd ban in Olympics could cost reinsurers up to $400m: Fitch
“We estimate the total insurance cover for the Olympics to be about USD2.5 billion, comprising USD1.4 billion taken out by the International Olympic Committee and the Tokyo Organising Committee, USD800 million by broadcasters and USD300 million by other parties, such as sports teams, sponsors and hospitality. We believe reinsurers would bear most of the losses arising from this cover given that high-severity exposures are typically heavily reinsured,” said Fitch
‘Tremendously off track’ to meet 2030 SDGs: UN chief
Despite a 300 per cent increase in global food production since the mid-1960s, according to the Secretary-General, “malnutrition is a leading factor contributing to reduced life expectancy”.
He cited climate change as both “a driver and a consequence of hunger”, adding that “our war with nature” includes a food system that generates one-third of all greenhouse gas emissions and is also responsible for up to 80 per cent of biodiversity loss.
China tightens control over cybersecurity in data crackdown
Beijing is increasingly sensitive about control over information about its people and economy. Companies are barred from storing data about Chinese customers outside China. Companies including ride-hailing service Didi Global Inc, which recently made its US stock market debut, have been publicly warned to tighten data security.
Under the new rules, anyone in China who finds a vulnerability must tell the government, which will decide what repairs to make. No information can be given to “overseas organisations or individuals” other than the product’s manufacturer.