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International News

Pandemic Motors: Europeans snap up old cars to avoid public transport

The surge in interest in used cars is neither good news for struggling mass transit networks nor the environment as dirty old cars appear to be more in demand than new electric vehicles.

In the longer term, however, the shift away from public transport towards “individual mobility” in the pandemic era is expected to help carmakers, hit by a 27% slump in new vehicle sales across Europe in the first 10 months of 2020.

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Insurers winning most, but not all, Covid-19 business interruption lawsuits

The stakes are high for thousands of businesses. The outbreak has led to a surge in U.S. bankruptcies, including rental-car company Hertz Global Holdings Inc. Century 21 Stores said it couldn’t survive after its insurer denied its business-interruption claim.

But the pandemic is also squeezing insurers. In the second quarter — after the initial shutdowns — Chubb Ltd. reported $1.16 billion in Covid-19 losses. Munich Re said this month coronavirus losses keep growing. Overall, the industry could face at least $100 billion in total underwriting losses from the pandemic, Lloyd’s of London predicted in May.

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Tokyo 2020 organisers estimate Games postponement cost $1.9 billion – media

The postponement costs include payment to staff as well as the introduction of new systems for refunding tickets but do not include measures against the spread of the coronavirus, the newspaper said.

The organisers had originally estimated that the delay would cost nearly 300 billion yen but they were able to reduce that figure by simplifying some events, the report said.

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Hacker selling CEO, CFO email accounts for as less as Rs 7,400

The data is being sold on a closed-access underground forum for Russian-speaking hackers called exploit.in”.

The high-level employees at risk include chief executive officers, chief operating officers, chief financial officers, chief marketing officers, chief technology officers, presidents, vice presidents and company directors, among others.

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WHO says would be ‘highly speculative’ to say COVID did not emerge in China

China is pushing a narrative via state media that the virus existed abroad before it was discovered in the central city of Wuhan, citing the presence of coronavirus on imported frozen food packaging and scientific papers claiming it had been circulating in Europe last year.

“I think it’s highly speculative for us to say that the disease did not emerge in China,” Mike Ryan said at a virtual briefing in Geneva after being asked if COVID-19 could have first emerged outside China.

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Israel, India partners in quest for future with low carbon, pollution levels: Netanyahu

Addressing a digital conference of the India-led International Solar Alliance (ISA), he said obstacles to conserving solar energy would have to be overcome to ensure supply on days when there is no sun.

“We want a future with less carbon and less pollution, a future based on green energy and that’s why I welcome this vital initiative by Prime Minister (Narendra) Modi and I want to assure you that Israel is your partner in this quest,” a government release quoted Netanyahu as saying.

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