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South Korean court hears children’s climate change case against government
The proceeding is Asia's first such climate-related litigation, the...
Musk decries Australian court ‘censorship’ of X terror posts
At a hearing overnight, Australia’s Federal Court ordered X,...
US looks to keep critical sectors safe from cyberattacks
“Our aim is to ensure that control systems serving 50,000 or more Americans have the core technology to detect and block malicious cyber activity,” Anne Neuberger, deputy national security adviserShe said the administration has identified five specific modernization efforts as a result of its review of how the SolarWinds hack happened, including using technology that continuously monitors for malicious activity and requiring greater use of multi-factor authentication so systems can’t be accessed with a stolen password alone.
That threat to critical infrastructure was laid bare in February after a hacker’s botched attempt to poison the water supply of a small Florida city raised alarms about how vulnerable the nation’s utilities may be to attacks by more sophisticated intruders.
As Tesla takes the plunge, wary insurers watch crypto craze from the sidelines
Scant regulation and volatile prices of bitcoin and other cryptocurrencies make many insurers reluctant to underwrite the risks, despite booming demand for protection of digital assets and for personal liabilities of directors and executives of companies that deal with cryptocurrencies.
Oil companies defeat New York City appeal over global warming
“Global warming presents a uniquely international problem of national concern,” Circuit Judge Richard Sullivan wrote for a three-judge panel. “It is therefore not well-suited to the application of state law.”
It rejected the city’s efforts to sue under state nuisance law for damages caused by the companies’ “admittedly legal” production and sale of fossil fuels, and said the city’s federal common law claims were displaced by the federal Clean Air Act.
Coronavirus pandemic to shave 3% off global output in medium term: IMF
The IMF said the prospects for “scarring” from the current crisis remained substantial, even if systemic financial stress and the associated long-lasting economic damage had been largely avoided due to the unprecedented policy actions taken.
The path to recovery remained challenging, especially for countries with limited fiscal resources, the IMF said in a blog post based on its updated World Economic Outlook.
Hong Kong is set to target first SPAC listing by end of year
One major issue in Hong Kong could become securing liability insurance for SPAC directors and officers against incorrect statements and negligence. Such insurance is already double the cost for many Chinese firms listed in the U.S. because of increased scrutiny and activism in recent years, said Sandra Lee, Asia chief executive at reinsurance broker BMS Group.
For the even smaller SPAC market it’s “almost impossible” to get D&O liability insurance, leaving the Chinese owners exposed to claims, Lee said
Investigation begins into how ship got stuck on Suez Canal
Suez Canal Authority (SCA) Chairman Osama Rabie has suggested weather conditions, including high winds, and human error could have played a role in the grounding on March 23.
“Such grave accidents may not be caused by a single factor, part of it could be the wind, another part could be the human element, and another part could be technical,” Rabie told a news conference Monday night after the vessel was freed.
The investigation will include examining the seaworthiness of the ship and its captain’s actions to help determine the causes, Rabie advisor Captain Sayed Sheasha told Reuters.
Skyrocketing liability insurance rates for SPACs
. Coverage of about $10 million to indemnify a blank-check company’s directors and officers now costs more than $1 million on average, according to a lawyer who works on SPAC deals. That’s up from $250,000 to $300,000 a year ago.
Brazilian regulator says no to Bharat Biotech’s Covaxin
National Health Surveillance Agency Anvisa in its website said it received a request from the Brazilian Health Ministry to import 20 million doses of Covaxin.
However a decision on that was suspended by the regulator due to the absence of some key documents.
WHO experts say Chinese jabs show ‘safety’, but data lacking
The UN health agency’s Strategic Advisory Group of Experts on Immunization (SAGE) said it had reviewed the data provided so far, and that both vaccines “demonstrated safety and good efficacy against symptomatic Covid-19 disease”.
However, it warned, “both vaccines lacked data in older age groups and in persons with co-morbidities,” meaning other medical conditions.
EU drug watchdog reaffirms no particular clot risk factor linked to AstraZeneca vaccine
While repeating that the vaccine’s benefits outweigh risks, it cautioned that people should be aware of the “remote possibility” of rare blood clots occurring, and must seek immediate medical attention in case of symptoms.