The European Securities and Markets Authority (ESMA) said a fund...
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Wildfires could affect over half of Canada’s oil sands output: Report
Companies like Suncor Energy, Canadian Natural Resources and...
Dieselgate: Volkswagen’s $54 million settlement with Italian owners
In the settlement, over 60,000 car owners affected by the emissions...
Measles resurgent in Congo eight months after epidemic declared over
“Unfortunately, since the end of 2020, several provinces have started recording new increases in patients with measles,” said Anthony Kergosien, coordinator of MSF’s emergency response team in Congo.
Cybercriminal hacks vaccine marketplace, makes over $752K
The researchers found that the dark net advertisements for Covid-19 vaccines have increased by over 300 per cent in the past three months.
The Covid vaccine sellers are majorly based in the US and European countries including Spain, Germany, France and Russia.
Global chip supply chain increasingly vulnerable to massive disruption: Study
The report comes amid a global chip shortage that started with overbooked factories in Taiwan late last year, but has since been exacerbated by a fire at a plant in Japan, a freeze that knocked out electricity in the U.S. state of Texas and a worsening drought in Taiwan this year. The shortage has idled some production lines at automobile factories in the United States, Europe and Asia.
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.