According to a proposed class action filed on Tuesday, Boeing spent...
Category:
International News
Latest
European leaders campaign against Forever Chemicals
“Chemical pollution is a widespread problem in Europe but there are...
Fed holds rates steady, says more confidence needed in inflation slowdown
"The Committee does not expect it will be appropriate to reduce the...
Insurers are trying to escape COVID-19 liability, watchdog tells UK Supreme Cour
A lawyer for the Financial Conduct Authority (FCA), which brought a test case against insurers on behalf of policyholders, said insurers had reached an “extraordinary conclusion” that business losses were largely uncovered during the coronavirus pandemic because of the widespread havoc it has caused.
“(Insurers) are saying: ‘We insure perils but not ones that are going to cost us a huge amount of money. We never contemplated that’. Well, that isn’t an answer,” Colin Edelman, the FCA’s lawyer, told the second day of a four-day appeal, watched by thousands of businesses brought to their knees during the pandemic.
Phishing emails double in run up to Black Friday, Cyber Monday
A close attention to the language in the email can help users to spot phishiing emails.
“Avoid buying something online using your payment details from a website that does not have secure sockets layer (SSL) encryption installed,” said the report.
Canada promises big fines for companies that breach new privacy law
The draft law, which must be adopted by Parliament, says Canadians who feel their data has been improperly gathered or shared can turn to the country’s Privacy Commissioner and demand the information be deleted.The law also means businesses would have to be transparent about how they use automated decision-making systems like algorithms and artificial intelligence to make significant recommendations about individuals.
Hyundai faces lawsuit over EV fires as GM launches recall
Recalls could mean reputational as well as financial damage to Hyundai and other automakers, which are pushing into the EV market to meet tougher emissions regulations and to challenge market leader Tesla Inc TSLA.O. The problems could also dent consumer demand for EVs.
Normalcy may return by winter 2021, says COVID-19 vaccine creator
A new COVID vaccine’s impact will work significantly over the summer and life should be back to normal by next winter, Prof Ugur Sahin, co-founder of BioNTech, whose vaccine candidate has proved to prevent over 90 per cent people from getting Covid-19, as per preliminary reports. The Pfizer-BioNTech is one of the 11 vaccines in their final tests.
This winter would still be hard, he said in an interview on the BBC’s Andrew Marr Show.
Munich Re and Porsche form JV, to offer innovative manufacturing, software and financial mangement expertise
Torsten Jeworrek, member of Munich Re’s Board of Managementsaid,“With the FlexFactory, we and our partners have created a future-oriented platform for opening up new markets, which addresses a central challenge of modern production. Our cooperation once again underlines Munich Re’s innovative power and solution competence as a risk manager and financing expert for Industry 4.0.”
Moderna says its COVID-19 Vaccine is over 94% effective
A preliminary analysis of data from more than 30,000 volunteers showed Moderna’s vaccine prevented virtually all symptomatic cases of Covid-19, the disease caused by the coronavirus, the company said in a statement on Monday.
A key advantage of Moderna’s vaccine is that it does not need ultra-cold storage like Pfizer’s, making it easier to distribute. Moderna expects it to be stable at standard refrigerator temperatures of 2-8 degrees Celsius (36-48°F) for 30 days and it can be stored for up to 6 months at -20 degrees Celsius.
Annual global modeled insured average Cat losses in 2020 at $100 billion:AIR Worldwide
“The ability for the global (re)insurance industry, financial institutions, governments, and non-governmental organizations to prepare for large losses before they occur is critical to continued solvency and resilience,” said Rob Newbold, executive vice president at AIR Worldwide.
Insurers cannot provide unlimited cover in pandemic, UK Supreme Court told
The case revolves around whether 21 policy wordings, affecting potentially 700 types of policies, 60 insurers, 370,000 policyholders and billions of pounds in claims, should cover disruption caused by the virus.
The wordings cover business interruption when insured premises cannot be accessed because of public authority restrictions, in the event of a notifiable disease within a specified radius and hybrid wordings.
Philippines logs 100 deaths, P25 billion losses from recent storms
The National Disaster Risk Reduction and Managent Council said it has asked President Rodrigo Duterte to declare a state of calamity in the country’s largest island Luzon, home to 53 million people.
The proposal – which will be in addition to an existing state of calamity over the COVID-19 pandemic – allows faster release of calamity funds, the grant of interest-free loans and freezing of prices of basic commodities.