The island plays an outsized role in the global chip supply chain...
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Andreas Berger to succeed Christian Mumenthaler as group CEO of Swiss Re from July 1
Andreas Berger, group CEO designate, Swiss Re Jacques de Vaucleroy,...
Strong earthquake strikes Taiwan, tsunami waves detected in Japan
Taiwanese television showed buildings in Hualien shaken off their...
Carbon pricing rises as world’s weapon of choice in climate fight
The principle is simple: a carbon price establishes how much companies need to pay for their emissions. The higher the price, the greater the incentive to pollute less and invest in low-carbon technology.
Governments can force these payments through a carbon tax – a levy companies must pay when they pollute – or through an emissions-trading system (ETS).
“Each country will have to come up with its own path to reaching net zero, but the expectation is carbon pricing is going to be a very important part,” said Wendy Hughes, Carbon Markets and Innovation Manager at the World Bank.
Howden acquiers cyber and tech specialist broker Safeonline
“Cyber as a class has been growing strongly for us over recent years and this acquisition supercharges our growth in this important market, In a stroke, it gives us the ability to service retail SME clients and enlarge our U.S. wholesale cyber book. It also means we can improve our service to large global retail accounts and grow further our Financial Lines retail capability.commented Charlie Langdale, managing director, Financial Lines.
Hamilton sets up a new Bermuda special purpose insurer ‘Ada Re’
“Ada Re will give investors immediate access to the improving pricing, terms and conditions, and expected returns in the retro market. The establishment of Ada Re is indicative of our ability to quickly capitalize on dynamic reinsurance market conditions for the benefit of third-party capital investors,” Tony Ursano, group CFO and head of Strategic Partnerships at Hamilton.
Giant wind turbine collapses in northern Sweden; no one hurt
Maria Roske, chief executive of windmill operator WPD, told the local Norran newspaper that there were no construction workers on site when the incident happened.
She added that she believed it was the first time such an incident took place in Sweden.Roske told Norran that Vestas will investigate the collapse because the group built the wind turbine. with Vestas, which is the manufacturer. It”s their power plant, their turbine.”
Lloyd’s first Digital Syndicate Ki goes live, announces list of broker trading partners
The creation of Ki was first announced in May 2020. Ki aims to significantly reduce the amount of time taken for brokers to place their follow capacity.
Ki’s algorithm, developed with support from University College London, will evaluate Lloyd’s policies and automatically quote for business through an always available digital platform, built by Google Cloud and accessed directly by brokers.
Google faces regulatory scrutiny in Britain over ‘Privacy Sandbox’ advertising data revamp
The complaint follows up on concerns about Google’s new system that the watchdog raised in a July report about online platforms and digital advertising. The report recommended the British government adopt a new regulatory approach to governing digital giants making big money from online ads.
Google said the new technology will increase privacy for users while also supporting publishers.
Meanwhile,Russia has opened a case against U.S. tech giant Google for failing to remove banned content from its search engine, communications watchdog Roskomnadzor said on Monday.
AstraZeneca and Oxford say COVID-19 vaccine shows 70% efficacy
AstraZeneca chief executive Pascal Soriot said that the lower first dose of its experimental COVID-19 vaccine meant more people can be vaccinated more quickly, as the British drugmaker unveiled interim late-stage trial results.
“Being able to vaccinate more people faster is a really a big plus,” he told a briefing.AstraZeneca said it would “immediately prepare regulatory submission of the data to authorities around the world that have a framework in place for conditional or early approval.”
The Astra vaccine does not require ultra-cold storage which may make it easier to administer than the Pfizer-BioNTech shot, which needs to be refrigerated at -70 degrees.
Surge in greenhouse gases sustained despite COVID lockdowns – U.N
Many scientists expect the biggest annual fall in carbon emissions in generations this year as measures to contain coronavirus have grounded planes, docked ships and kept commuters at home.
However, the WMO described the projected 2020 drop as a “tiny blip” and said the resulting impact on the carbon dioxide concentrations that contribute to global warming would be no bigger than normal annual fluctuations.
UAE eases limits on foreign ownership to attract investors
The presidential decree changing the corporate law helps the UAE “strengthen its leading position regionally and globally as an attractive destination for projects and companies,” state-run WAM news agency reported.
The reforms allow foreign entrepreneurs and investors to set up their own companies without involving local shareholders, the agency said.
42 failed airlines and counting: Wait for vaccine crushes industr
“The fourth quarter and the first quarter of next year could be equally terrible,” IBA’s Stuart Hatcher said in an interview. “Airlines will be trying everything to get through to Easter, when higher demand should coincide with the roll-out of the vaccine, but there comes a point when the money runs out.”