Around 3.5 million Indians reside in the UAE, of which about 65 per...
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Volkswagen faces lawsuits in Germany over Porsche EV battery triggering fire in cargo ship
The case was brought by half a dozen plaintiffs, including Mitsui...
Lloyd’s of London hits 35% female leadership target, says it has ‘way to go’
Lloyd’s, which employs around 57,000 people in insurance and...
EU denies gas plants a green finance tag, offers possible hydrogen loophole
The landmark EU rules, due to be finalised this year, will force providers of financial products to disclose from the end of 2021 which investments meet climate criteria, and can therefore be marketed as “sustainable”.
Gaining such a label is likely to help companies tap the growing share of investor cash looking to profit from the region’s multi-trillion-euro shift to a net zero emissions economy by 2050.
G20 determined to use all tools to contain pandemic, save jobs, incomes
“We are determined to continue to use all available policy tools as long as required to safeguard people’s lives, jobs and incomes, support the global economic recovery and enhance the resilence of the financial system, while safeguarding against downside risks,” the statement said.
Airlines need another $80 bn in aid to survive – IATA
While vaccine breakthroughs offer hope, a return to mass travel remains many months away, airlines say. Some will struggle to make it through the northern hemisphere winter, when profits are thin even in normal times.
Zurich Insurance nears $4 billion deal for MetLife unit
It would also allow MetLife to exit a business in which it faces fierce competition from larger players such as State Farm, GEICO and Progressive Insurance.
Aon develops $70mn in alternative capital capacity to transfer systemic cyber risk
The cover allows for limits of up to USD 70 million and will protect against increasing cyber loss aggregations on re/insurers’ balance sheets. The product is structured to protect the cedent from the effects of catastrophic cyber market losses stemming from events such as self-propagating malware or wiperware, distributed denial of service, a significant cloud outage or certificate revocation.
MPs to buttress post-Brexit Britain as a financial centre
Britain left the EU last January and full access to the bloc under transition arrangements ends on Dec. 31, with 7,500 jobs and assets worth around a trillion pounds having already left the City of London for new EU financial hubs.
The inquiry will build on reforms already outlined by Britain’s finance minister Rishi Sunak last week that include making UK listings rules more attractive, amending insurance capital rules, and a sales tax break worth 800 million pounds on financial exports to the EU.
Pfizer seeking emergency use of its Covid-19 vaccine in US
The action comes days after Pfizer Inc. and its German partner BioNTech announced that its vaccine appears 95% effective at preventing mild to severe COVID-19 disease in a large, ongoing study.
EU could give conditional nod to Moderna vaccine as early as December
The EU could pay more than $10 billion to buy hundreds of millions of doses of the vaccine jointly developed by Pfizer Inc. and BioNTech as well as that of CureVac NV, Reuters said Friday, citing an EU official it didn’t name. The price it agreed for the Pfizer-BioNTech shot is 15.50 euros ($18.34) per dose, less than what the U.S. is paying, the newswire said.
Wealthy countries block COVID-19 drugs rights waiver at WTO – sources
Supporters of the waiver say existing intellectual property (IP) rules create barriers on access to affordable medicines and vaccines and they want restrictions to be eased, as they were during the AIDS epidemic.
Johnson & Johnson ordered to pay $120 million damages in New York baby powder case
Johnson & Johnson said it will appeal the verdict, citing “significant legal and evidentiary errors” at the trial.
“We deeply sympathize with anyone suffering from cancer, which is why the facts are so important,” the company said. “We remain confident that our talc is safe, asbestos free, and does not cause cancer.”