The latest allegations cast Boeing in an unfavorable light as it...
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Super election year increases risks of political violence in many countries, warns Allianz
As unrest can now spread more quickly and widely, thanks in part to...
Fitch cuts China’s ratings outlook on growth risks
"The outlook revision reflects increasing risks to China's public...
British grandma is first in world to get Pfizer vaccine outside trial
Britain is the worst-hit European country from COVID-19, with over 61,000 deaths, but Prime Minister Boris Johnson hopes to turn the tide against the disease by rolling out the Pfizer/BioNTech vaccine before the United States or European Union.
Global reinsurance market outlook stable, reinsurance capital exceeds $470 billion in 2020:AM Best
In its new Best’s Market Segment Report, “Market Segment Outlook: Global Reinsurance,” AM Best states that the current market hardening likely will need to continue for at least a couple of years to have a meaningful impact on the segment. Additionally, pricing momentum will have to be sufficient to offset losses from previous years, including the impact of COVID-19 and ongoing impact from social inflation.
Kia Motors recalling 295,000 vehicles due to risk of engine fires
Last week, the National Highway Traffic Safety Administration announced that Kia and Hyundai must pay USD 137 million in fines and for safety improvements because they moved too slowly to recall more than 1 million vehicles with engines that can fail.
The fines resolve a three-year government probe into the companies’ behavior involving recalls of multiple models dating to the 2011 model year.
Vaccine airlift delivers shot in the arm for airlines
IATA, representing 290 airlines, warns that vaccine rollout could be “compromised” without an easing of the travel curbs and quarantines it has lobbied against.
“There are parts of the world that have no cargo operations once the passenger networks are grounded,” IATA head of cargo Glyn Hughes said.
Cyber insurance shifting into personal lines as consumer interest rises in UK:GlobalData
Daniel Pearce, Senior Insurance Analyst at GlobalData, comments: “The need for cyber insurance policies has long been identified in the commercial space, where reliance on technology for day-to-day business activities has grown at an exponential rate. However, individuals have also become increasingly dependent on technology. With their exposure to cyber risks growing, the personal cyber insurance market is burgeoning.”
Tokyo Olympics delay costs near $2.8 billion
About two-thirds of the added costs are being picked up by the two government entities, with the other one-third going to the privately funded organizing committee.
German prosecutors probe EY auditors over Wirecard collapse
EY said on Friday that “it is not aware of any indications of criminal behaviour by its auditors at Wirecard. EY has supported the investigations of the responsible authorities from the outset and will continue to do so in full.”
Wirecard collapsed into insolvency in June after EY, its auditor for more than a decade, was unable to confirm the existence of 1.9 billion euros ($2.3 billion) purportedly held in offshore trustee accounts.
New EU-U.S. data transfer pact? Not any time soon, says EU privacy watchdog
The European Union is also trying to devise different ways to manage its data transfers with the rest of the world after the CJEU said privacy watchdogs must halt or prohibit transfers outside the EU if other countries cannot assure that the data will be protected.
More than 5,000 companies had signed up to the Privacy Shield set up in 2016 when the Luxembourg-based EU Court of Justice (CJEU) scrapped it in July this year, disrupting their businesses and exposing them to the risk of privacy lawsuits.
EU climate deal unlikely without breakthrough on budget, envoy says
The climate and budget issues are interlinked.The EU has agreed that hundreds of billions of euros from its 1.8-billion-euro budget and attached COVID-19 recovery fund will be spent on helping countries cut greenhouse gas emissions.
The European Commission wants the EU to commit to cut net emissions at least 55% by 2030, from 1990 levels. The bloc’s current 2030 target is a 40% emissions cut.
A year into COVID-19, U.N. declares a day of ‘epidemic preparednes
The COVID-19 virus emerged in the Chinese city of Wuhan late last year and spread globally, so far infecting more than 66 million people and killing some 1.5 million. The World Health Organization (WHO) called it a pandemic in March, a declaration that the United States and others said came too late.
“Given that the General Assembly has previously declared international days devoted to chess, yoga and toilets it only seems fair that epidemics should have their day too,” said International Crisis Group U.N. director Richard Gowan.