The U.S. electric vehicle maker rolled out Full Self-Driving, or...
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Houthi leader vows to continue maritime attacks, calls Indian Ocean ‘new theatre of confrontation’
Al-Houthi also claimed that his group had attacked 102 vessels...
An emergency slide falls off a Delta Air Lines plane, forcing pilots to return to JFK in New York
Pilots declared an emergency so the flight could be be routed...
Container backlog, global supply chain disruption from Suez Canal crisis could take months to clear
“The blockage of the Suez Canal will increase the negative impact on global supply chains in the coming weeks, as the availability of empty equipment, particularly in Asia and Europe, will be affected,” Reiner Heiken, chief executive of U.S. headquartered Hellmann Worldwide Logistics, told Reuters.
Egypt to release ship that blocked Suez canal once compensation deal reached
The Ever Given blocked the canal for six days, roiling global markets and costing the Suez Canal Authority $15 million a day in lost revenue, according to its calculation. Rabie said Egypt wants compensation for the losses, as well as the cost of freeing the vessel.
Holger Tewes-Kampelmann to succeed Amer Ahmed as CEO of Allianz Re
Ahmed was instrumental in the rationalisation of Allianz’s reinsurance buying programme, creating a global buying strategy that was more efficient as well as profitable for the group.
U.S. rolls out first update to flood insurance pricing in 50 years
National Flood Insurance Program currently provides $1.3 trillion in coverage through more than 5 million policies in the U.S., but has been losing money for years and is currently $20.5 billion in debt.
China imposes $2.8 bn penalty on Jack Ma’s Alibaba Group in monopoly probe
The company founded by billionaire Jack Ma used its platform rules and technical methods like data and algorithms “to maintain and strengthen its own market power and obtain improper competitive advantage,” the investigation concluded.
Alibaba’s practice of imposing a “pick one from two” choice on merchants “shuts out and restricts competition“ in the domestic online retail market, according to the statement.
AIA Group establishes AIA Variable Capital company in Singapore
AIA is now exploring how the recently introduced VCC framework can support AIA’s investment programme with particular focus on balance sheet exposure to specialist and alternative investment strategies.
After Facebook, LinkedIn faces massive 500 mn users’ data leak: Report
The leaked data up on sale includes LinkedIn IDs, full names, email addresses, phone numbers, genders, links to LinkedIn profiles, links to other social media profiles, professional titles and other work-related data
“While users on the hacker forum can view the leaked samples for about $2 worth of forum credits, the threat actor appears to be auctioning the much-larger 500 million user database for at least a 4-digit sum, presumably in bitcoin,” the report mentioned.
Third of Antarctic ice shelf area at collapse risk due to global warming: Study
“The findings highlight the importance of limiting global temperature increases as set out in the Paris Agreement if we are to avoid the worst consequences of climate change, including sea level rise,” said Gilbert.
Sustainable investment group UNPRI reviews Liberty Mutual membership over Australian coal mine plan
Liberty Mutual has faced a backlash from community groups, Aboriginal traditional owners and farmers who are opposed to the development of the mine that they say will worsen climate change and carries a risk of polluting local waterways that lead out to the Great Barrier Reef.
UK launches new watchdog to keep tech giants in check
“Today is a major milestone in the path to creating the world’s most competitive online markets, with consumers, entrepreneurs and content publishers at their heart,” said UK Digital Secretary Oliver Dowden.
“The Digital Markets Unit has launched and I’ve asked it to begin by looking at the relationships between platforms and content providers, and platforms and digital advertisers. This will pave the way for the development of new digital services and lower prices, give consumers more choice and control over their data, and support our news industry, which is vital to freedom of expression and our democratic values,” he said.