The European Union's Digital Services Act (DSA), which applies to...
Category:
International News
Latest
Deepfakes surge ahead of general elections in S. Korea
As AI technology continues to evolve and proliferate, experts warn...
February on course to break many global heat records
Zeke Hausfather,Berkeley Earth scientist, said the rise in recent...
UK approves Pfizer-BioNTech COVID-19 vaccine, first in the world
“The vaccine will be made available across the UK from next week.”
Britain’s vaccine committee will decide which priority groups will get the jab first such as care home residents, health and care staff, the elderly and people who are clinically extremely vulnerable.
Charles Taylor appoints Bobby Gracey as global head of fraud
Damain Ely, CEO, Charles Taylor Adjusting, said “As Insurers across the world look to control claims costs, the conditions for a greater level of claims fraud can increase, so developing counter fraud capabilities becomes essential. This is the time to support our clients further by developing our counter fraud expertise. Bobby has demonstrated his strong knowledge and experience, making him the obvious choice to lead our global fraud function. We are delighted that he is joining us.”
Fossil fuel production far exceeds climate targets, U.N. says
the 2015 Paris Agreement, requires fossil fuel production decreasing by around 6% per year between 2020 and 2030.
Instead, countries are planning and projecting an average annual increase of 2%, which by 2030 would result in more than double the production consistent with the 1.5C limit, the report said.
Allianz to acquier Westpac Banking Corp’s general insurance business
It will also enter into a new 20-year exclusive agreement for the distribution of general insurance products to Westpac customers in an expansion of its existing bancassurance agreement, which has been in place since 2015.Under the new distribution agreement, along with the existing products of motor, caravan and trailer and travel insurance,
Fairfax sales RiverStone Europe to CVC Capital
“RiverStone Europe is an industry leader in run-off insurance services, and CVC’s scale and vision will give RiverStone Europe, under the continued leadership of Luke and his management team, the opportunity to further grow the business. Nick and Luke are also fully supportive of this transaction, based on their strong beliefs that it was the best way for RiverStone Europe to continue to grow and pursue run-off transactions. We wish Luke and all of the employees at RiverStone Europe much success in the future. Fairfax remains committed to continuing to grow its other European businesses, including its Lloyd’s of London activities,” said Watsa.
Cyclone Burevi slams into eastern Sri Lanka
The cyclone is likely to damage coastal buildings and power lines and unleash flash floods, the island’s disaster management center said, advising those living near its path to stay indoors.Those evacuated, from the Trincomalee district expected to be hit the hardest, have been moved into 237 relief centers until the cyclone passes, disaster officials said.
Factbox: When and which COVID-19 vaccines are likely to be available in Asia
Japan has deals to purchase 120 million doses from Pfizer/BioNTech in the first half of next year, 120 million from AstraZeneca, of which first 30 million will be shipped by March 2021, and 250 million from Novavax.
It is also in talks with Johnson & Johnson and has a deal with Shionogi & Co.
Munich Re aims for a profit of €2.8bn in 2021
“We expect to generate a profit of clearly above 1bn € this year. The pandemic has naturally had a considerable impact on our result. But the burdens arising from COVID-19 are financially manageable for Our business is clearly on track. Thanks to our strong balance sheet, we are in a very good position to exploit current market opportunities. In the coming year, we plan – despite anticipated further COVID‑19 losses – to meet the profit target of €2.8bn as envisaged prior to the pandemic,”said Christoph Jurecka,,CFO, Munich Re ,
Hyundai, Kia Motors agree to $210 million auto safety civil penalty in US
Kia agreed to create a new U.S. safety office headed by a chief safety officer and each automaker will retain an independent, third-party auditor who will directly report to NHTSA and will conduct a comprehensive review of the company’s safety practices. Hyundai’s consent order will last three years, while Kia’s is for two years, but both can be extended by one year.
Mirae Asset wins U.S. lawsuit against China’s Anbang on scrapped $5.8 bln hotel deal
The case in Delaware, where many companies are registered, could set a precedent for deals that have seen valuations drop since the COVID-19 pandemic, as buyers no longer want to buy assets under the terms of agreements reached before.
A consortium led by Mirae agreed last year to buy the hotels from Anbang, which had been selling some of its overseas assets after the Chinese government took control of the troubled insurer in 2018.