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Toyota warns 50,000 vehicle owners to stop driving, get immediate repairs
More than 30 deaths worldwide, including 26 U.S. deaths, and...
Musk’s Neuralink implants brain chip in first human
Elon Musk ``Neuralink’s first product would be called Telepathy. It...
In first for Fed, U.S. central bank says climate poses stability risks
“Acute hazards, such as storms, floods, or wildfires, may cause investors to update their perceptions of the value of real or financial assets suddenly,” Fed Governor Lael Brainard said in comments attached to the report, released Monday.
“Chronic hazards, such as slow increases in mean temperatures or sea levels, or a gradual change in investor sentiment about those risks, introduce the possibility of abrupt tipping points or significant swings in sentiment,” Brainard said.
G20 agrees debt framework to help poor countries hit by COVID
The COVID-19 pandemic is straining the finances of some developing countries and the G20 ministers said on Friday that they recognised that more would need to be done to help them than a current temporary debt freeze, which will be extended until June 30, 2021.
Bank of England warns insurers risk unexpected COVID losses
“Our work has highlighted that a number of firms have not been able to accurately identify and track COVID exposed policies, leading to unexpected COVID losses,” the BoE said in a letter to insurers.
“Firms should ensure that this uncertainty is reflected in the reserve estimates and that, where possible, appropriate procedures are put in place to identify and track exposed policies.”
Vietnam braces for Typhoon Vamco, 53 dead in Philippines
Vietnam is prone to destructive storms and flooding due to its long coastline. Vamco will be the 13th storm that affects the Southeast Asian country this year, where more than 160 people have been killed in natural disasters triggered by a series of storms since early October.
“There has been no respite for more than eight million people living in central Vietnam,” said Nguyen Thi Xuan Thu, Vietnam Red Cross Society President. “Each time they start rebuilding their lives and livelihoods, they are pummelled by yet another storm.”
Goldman hires Barclays banker to ride insurance deal boom
Goldman Sachs is currently advising British insurer RSA on a 7.2 billion pound takeover approach from a consortium of Canadian insurer Intact Financial and Danish insurer Tryg.
China regulator says financial innovation must not create oligopolies
Xiao Yuanqi, chief risk officer at the China Banking and Insurance Regulatory Commission (CBRIC) told the Caixin Summit in Beijing that innovation should not undermine healthy competition or let innovation pioneers become hindrances to further innovation.
Microsoft urges action on health care cyber attacks
“In recent months, we’ve detected cyberattacks from three nation-state actors targeting seven prominent companies directly involved in researching vaccines and treatments for Covid-19,” said Microsoft’s vice-president for security issues Tom Burt.
U.S. court upholds Harvard race-based admissions
U.S. Circuit Judge Sandra Lynch, however, said Harvard’s use of race was not “impermissibly extensive” and was instead “meaningful,” because it prevented diversity from plummeting.
“Harvard’s race-conscious admissions program ensures that Harvard can retain the benefits of diversity it has already achieved,” she said.
Tsunami-hit reactor in northeast Japan gets final approval to restart
Onagawa was the closest among Japan’s nuclear stations to the epicentre of the magnitude-9 quake in March 2011, which triggered a tsunami that killed nearly 20,000 people as well as causing the worst atomic disaster since Chernobyl in 1986.
The station was swamped by the tsunami, but survived with its cooling system intact, saving its reactors from the threat of meltdowns similar to those that occurred at Tokyo Electric Power’s Fukushima Daiichi station to the south.
Europe ‘must grit teeth’ on COVID-19 as vaccine euphoria fades
As the euphoria that followed Pfizer’s announcement faded, European shares slipped back from their eight-month highs, with poor economic data from Britain adding to doubts about the rebound from the brutal slump caused by the first lockdowns.Its economy lost steam in September, hardening expectations that it will shrink again as 2020 ends.
Britain passed 50,000 COVID-19 deaths this week, and the 33,470 new cases registered on Thursday were its highest daily tally to date.
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