The ADB, however, reaffirmed its figures, standing by its...
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US appeals court says kids’ climate lawsuit must be dismissed
The plaintiffs had argued in their 2015 lawsuit that the government...
Global microinsurance premiums touch $5.8 billion in 2023, cover only 15% of market: Report
The 2023 Study, drawing on from 294 insurers covering 1,040...
Carbon-cutting pledges by countries nowhere near enough:UN
Fewer than half of the world’s countries, accounting for 30 per cent of the world’s carbon emissions, submitted targets by the deadline. Only seven of the top 15 carbon polluting nations had done so.
Munich Re 2020 profit plunges 55% as pandemic takes toll
Pandemic-related claims alone amounted to more than 3.4 billion euros.
“In spite of the tremendous challenges posed by COVID-19, Munich Re closed out 2020 with a clear profit,” Chief Executive Joachim Wenning said.
Damage to United Boeing 777 engine consistent with metal fatigue: NTSB
The focus is more on engine maker Pratt & Whitney and analysts expect little financial impact on Boeing, but the PW4000 issues are a fresh headache for the planemaker as it recovers from the far more serious 737 MAX crisis. Boeing’s flagship narrowbody jet was grounded for nearly two years after two deadly crashes.
Aviva sells French business to Macif’s Aéma Groupe for $3.9 billion
Aviva France has 3 million customers and 7.8 billion euros in revenue. It covers life insurance, property and casualty and asset management markets in France.
The sale is central to Blanc’s turnaround plan aimed at shifting the insurer’s focus to core operations in Britain, Canada and Ireland after prolonged share price weakness has irked investors.
US tops 500,000 virus deaths, matching the toll of 3 wars
Baltimore: The COVID-19 death toll in the US has topped 500,000, a staggering number that all but matches the number of Americans killed in World War II, Korea and Vietnam combined. The US recorded an estimated 405,000 deaths in World War II, 58,000 in the...
Workers’ rights under threat as online work surges five-fold – U.N
The ILO found significant inequities in the platform economy, with workers in developing countries earning 60% less than those in developed countries, even after controlling for basic characteristics and types of tasks. More than 70% of taxi drivers reported their average daily number of trips and earnings decreased after a platform took over the market.
Uber’s U.K. Court loss spells a reckoning for Gig work in Europe
“It wasn’t just about Uber, it was about the gig economy,” Rix said. “It’s a bogus, false model of employment, and it’s wrong and people are being exploited.”
The decision nevertheless opens the way for additional claims — and not just from Uber drivers. Those making deliveries for companies like Amazon.com Inc., which uses third-party services that employ freelance workers, as well as other, smaller players, now have a clearer path for challenging the terms of working for their platforms, said Mick Rix, a national officer for the GMB union. The GMB, which has more than 620,000 members, will use the decision to take on other tech platforms, he said.
Boeing recommends Airlines suspend use of some 777s after United incident
The National Transportation Safety Board (NTSB) said its initial examination of the plane indicated most of the damage was confined to the right engine, with only minor damage to the airplane.
It said the inlet and casing separated from the engine and two fan blades were fractured, while the remainder of the fan blades exhibited damage.
Japan’s transport ministry ordered Japan Airlines Co Ltd (JAL) and ANA Holdings Inc to suspend the use of 777s with P&W4000 engines while it considered whether to take additional measures.
After losing a company to COVID, owners seek the next gig
It’s not known how many small businesses have failed in the pandemic, but different estimates all show devastation. Based on a projection last spring by the National Bureau of Economic Research, the number is likely well into the hundreds of thousands. Data from the work scheduling software company UKG shows that about one in six small businesses have closed their doors since the pandemic began. And the National Restaurant Association, a trade group, said 17% of U.S. restaurants, or more than 110,000, had permanently shut by Dec. 1; it’s likely that many were small or mid-sized businesses.
WHO agrees compensation fund for serious COVAX vaccine side effects
The programme, which the WHO said was the first and only vaccine injury compensation mechanism operating on an international scale, will offer eligible people “a fast, fair, robust and transparent process”, the WHO said in a statement.
“By providing a no-fault lump-sum compensation in full and final settlement of any claims, the COVAX programme aims to significantly reduce the need for recourse to the law courts, a potentially lengthy and costly process,” the statement said.