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Delta CEO says airline is facing $500 million in costs from global tech outage
Speaking on CNBC, Bastian said Wednesday that the monetary amount...
CrowdStrike sued by shareholders over global outage
In a proposed class action filed on Tuesday night in the Austin,...
Amid dispute, Suez Canal blames ship’s grounding on speed, rudder
The Suez Canal Authority (SCA) sought compensation of $916 million for the blockage in court but later reduced its request to $550 million, including a $200 million deposit to secure the ship’s release.
It says the owner has offered $150 million in compensation. Shoei Kisen has not commented on the negotiation.
Chubb makes leadership changes in Asia Pacific
Edward Ler, currently Country President for Chubb’s general insurance business in Korea, has been appointed to the position of Head of Southeast Asia. Ler will be responsible for the general management and business results in the six countries of Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. He replaces Glen Browne, who was recently appointed as Division President – Consumer Lines, Asia Pacific
ExxonMobil, Chevron investors vote for more action on climate change
The dual decisions at the two biggest US oil giants’ annual meetings are clear evidence that addressing climate change has moved from being an environmentalist cause to one championed by mainstream investors.
Australian court says mine approvals must consider climate harm
“We understand it is the first time a court of law, anywhere in the world, has ordered a government to specifically protect young people from the catastrophic harms of climate change,” she said.
Digitalisation needed for smooth international air travel restart: IATA
“Without an automated solution for COVID-19 checks, we can see the potential for significant airport disruptions on the horizon. Already, average passenger processing and waiting times have doubled from what they were pre-crisis during peak time — reaching an unacceptable three hours,” said Willie Walsh, IATA’s Director General. “And that is with many airports deploying pre-crisis level staffing for a small fraction of pre-crisis volumes. Nobody will tolerate waiting hours at check-in or for border formalities,” he said.
Tokyo Olympics Games cancellation can trigger $3 billion in estimated losses:Report
Analysts at Jefferies estimate that the Tokyo Olympics in total is insured for approximately $2 billion, with an additional $600 million for hospitality.
Shea to succeed Charman as executive chairman & CEO of Sompo International
Shea will inherit the leadership of a segment that represents more than 30% of Sompo Holdings Group’s projected adjusted profit, employs approximately 6,600 people in over 29 countries and regions and more than $12 billion in gross premiums.
Barclays dragged into insurer ‘War’ over failed M&A deal
SCOR SE is suing Barclays in London for breach of confidence when the bank advised Covéa on its bid to acquire SCOR in 2018. Barclays was given an inside track into the strategic thinking of SCOR’s board and then used the information to help Covea “sabotage” SCOR’s plans to merge with another firm, SCOR’s lawyers said.Covéa’s bid for SCOR was one of France’s most acrimonious takeover attempts in years and the fallout has led to several lawsuits as well as criminal proceedings.
Bank of England aims for greener corporate bond portfolio
The BoE said it was the first central bank in the world to take steps that could ultimately see the most polluting companies banned from its bond portfolio.
It will give firms time to reduce carbon emissions rather than immediately selling off its holdings in energy companies, power utilities and miners.
Japan’s Biggest Dating App Hack Exposes Two Million Accounts
Net Marketing Co., which runs the Omiai dating app, said that it found evidence of unauthorized access to its servers in April. Among the data exposed were photos of ID used to confirm the age of users, including drivers’ licenses, insurance cards and passports. Credit card data was not leaked in the hack, the firm said on Friday, adding that it had yet to confirm misappropriation of the personal information.