This is the first time Australia has used its cyber sanctions...
Category:
International News
Latest
Global watchdog to report in October on how social media fuels bank runs
Depositors pulled $42 billion from Silicon Valley Bank in just 10...
Bermuda reinsurer returns peaking, to remain favorable in 2024: Fitch
``We expect market conditions to remain favorable at the 2024...
Too few companies disclose financial hit from climate change, regulator says
The TCFD, set up by the Financial Stability Board (FSB) which coordinates financial rules for G20 countries, said more than 1,500 organisations worldwide had expressed support for TCFD-aligned disclosures to help cut carbon emissions, up 85% since last year’s update
Global coronavirus cases rise by single-day record of half a million
The global coronavirus tally stands at 44.7 million cases and about 1.17 million deaths.
Europe, North America and Latin America account for over 66% of global cases and over 76% of global deaths.
Europe’s new daily infections have doubled over the past two weeks as it reported more than 250,000 cases for the first time on Wednesday, according to a Reuters tally.
The region has so far reported about 9.5 million cases and about 261,000 deaths.
Australia needs national response to ‘alarming’ disaster future – enquiry
“What was unprecedented is now our future,” Mark Binskin, a former air force chief who chaired the enquiry, wrote in the report, which called for changes to climate modelling and a role for the military in disasters, among other things.
“Australia’s alarming disaster outlook requires these improvements. This opportunity should not be lost.”
Feds issue insurance-coverage rules for COVID-19 vaccine and treatments
Workplace and individual health insurance plans will cover the COVID-19 vaccine as a preventive service, with no cost sharing. The requirement applies to the vast majority of private plans, which are mandated to cover approved preventive care under the Obama-era Affordable Care Act — even as the Trump administration is trying to overturn that law at the Supreme Court.
IFC extends $4-billion loans to private companies to fight pandemic
“Of the USD 8-billion pandemic fast track financing approved by our board in March, USD 4 billion have been committed to date, of which close to half is expected to benefit the people in the poorest countries,” Mengistu Alemayehu, IFC’s regional director for South Asia, said in a statement.
2nd study testing a COVID-19 antibody drug has a setback
Earlier this month, a different group of monitors recommended pausing enrollment in a U.S. National Institutes of Health study testing an Eli Lilly antibody drug to investigate a possible safety issue in hospitalized patients.
Insurers have to collect BI policy premiums for 150 years to make up for COVID-19 global losses:Geneva Association
Among the report’s, prepared by the Geneva Association, main findings are that, encouragingly, health and life risks for a pandemic resembling COVID-19 pose no fundamental insurability challenges.
However P&C insurers have nowhere near the capacity needed to shoulder projected global output losses of more than USD 4 trillion for 2020. By comparison, they collect USD 1.6 trillion in annual premiums, with just USD 30 billion for business interruption policies.
Strong earthquake kills 19 people in Turkey and Greek islands
People ran onto streets in panic in the Turkish city of Izmir, witnesses said, after the quake struck with a magnitude of up to 7.0. Neighbourhoods were deluged with surging seawater which swept debris inland and left fish stranded as it receded.Ismail Yetiskin, mayor of Izmir’s Seferihisar, said sea levels rose as a result of the quake. “There seems to be a small tsunami,” he told broadcaster NTV.
Footage on social media showed debris including refrigerators, chairs and tables floating through streets on the deluge. TRT Haber showed cars in Izmir’s Seferihisar district had been dragged by the water and piled on top of each other.
Facebook targeted in U.K. legal action over Cambridge Analytica
The possible lawsuit adds to Facebook’s run-ins with European privacy and antitrust authorities, which have intensified since the Cambridge Analytica affair emerged in March 2018. The EU has two early stage competition cases into Facebook’s classified ads service and its data practices, while Germany’s cartel office has targeted the company. The U.S. tech giant remains the target of multiple privacy disputes in Ireland, its EU home
Lloyd’s insurer Apollo to stop underwriting Adani coal mine from Sept. 2021
“We participate in one construction liability policy in respect of Adani Carmichael…this particular policy terminates in September 2021 after which we will no longer provide any insurance cover for this project,” chair of Apollo Syndicate Management Julian Cusack said in the memo.
“We have recently declined to participate in an additional policy relating to the port and rail extension and have agreed that we will not participate in any further insurance policies for risks associated with this project.”