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China doubles down on moves to mend its economy and fend off a financial crisis
As China's rapid rise as an economic superpower loses momentum,...
US: Indian-American former Pfizer employee found guilty of insider trading on Covid medicine trial
US Attorney Damian Williams highlighted that proof has been found...
Many life insurers need a new core system:Celent & Equisoft Report
Celent’s APAC insurance technology expert, Max Ang said, “The insurer of tomorrow will be a technology-focused enterprise, augmenting current experiences with digital tools and automation, and with collaborations with partners for success. The next-generation insurer will serve, and customers will engage, based on the evolving needs required.”
Poorer countries to get 120 million $5 coronavirus tests, WHO says
WHO Director General Tedros Adhanom Ghebreyesus said the manufacturers Abbott and SD Biosensor had agreed with the Bill & Melinda Gates Foundation to “make 120 million of these new, highly portable and easy-to-use rapid COVID-19 diagnostic tests available over a period of six months”.
“This will enable the expansion of testing, particularly in hard-to-reach areas that do not have laboratory facilities or enough trained health workers to carry out tests,” Tedros said.
Global leaders at UN meet: If virus does not kill us, climate change will
With Siberia seeing its warmest temperature on record this year and enormous chunks of ice caps in Greenland and Canada sliding into the sea, countries are acutely aware there’s no vaccine for global warming.
“We are already seeing a version of environmental Armageddon,” Fiji’s Prime Minister Frank Bainimarama said, citing wildfires in the western US and noting that the Greenland ice chunk was larger than a number of island nations.
India pledges to use its vaccine-production capacity to help ‘all humanity’
U.N. chief Antonio Guterres has been pushing for a “people’s vaccine” that is available and affordable everywhere and expressed concern on Tuesday that some countries were “reportedly making side deals exclusively for their own populations.”
Alphabet settles shareholder suit over sexual misconduct cases
The company will prohibit severance packages to employees who are subject to any pending investigation for sexual misconduct or retaliation. Sexual misconduct accusations against senior executives will be investigated by a “rapid response” team, and they will be barred from amending their stock-selling plans while under investigation.
Penalties and training will be made more consistent. And Google employees will be able to publicly discuss the facts of their cases.
A new council to oversee diversity efforts will include executives including CEO Sundar Pichai as well as independent experts such as a retired judge and outside attorneys. The council will report quarterly to the leadership development committee of Alphabet’s board.
New York retains rank as Top Global Financial Hub, London Gains in Volatile Index
New York leads the FinTech rankings, followed by Beijing, Shanghai, London, and Shenzhen. Five of the top ten centres for FinTech are Chinese.
The instrumental factors used in the GFCI model have been grouped into five broad areas of competitiveness: Business Environment, Human Capital, Infrastructure, Financial SectorDevelopment, and Reputation.
Swiss Re to further streamline the Group’s legal entity structure
As part of the changes, the Group intends to make Swiss Reinsurance Company Ltd (rated AA- by S&P / Aa3 by Moody’s / A+ by AM Best) the sole direct wholly-owned operating subsidiary of Swiss Re Ltd.
The target legal entity structure is expected to be implemented by the end of 2021, subject to receipt of the required regulatory approvals. As a result of these planned changes, Swiss Reinsurance Company Ltd intends to assume the debt of Swiss Re Corporate Solutions Ltd.
Allianz-led consortium in advanced talks to take on Aviva’s French arm – sources
Aviva said in a statement that it was “in the very early stages of developing its strategy for its continental European and Asian businesses”.
Lloyd’s of London CEO expects appeal over UK business insurance judgment
When asked on a panel at a conference organised by insurance buyers’ association Airmic if he expected an appeal, Neal said “yes”, adding that due to the complexity of disputes over policy wordings, “cases run for a period of time”.
The FCA has said the case could affect more than 60 insurers, 700 different types of policies and 370,000 policyholders, as many policies have similar wordings.Businesses, their lawyers and insurance brokers have urged insurers to pay claims as soon as possible to relieve financial distress.
Global COVID-19 death toll could hit 2 million before vaccine in wide use, WHO says
The number of deaths about nine months since the novel coronavirus was discovered in China is nearing 1 million.
“We are not out of the woods anywhere, we are not out of the woods in Africa,” said Ryan.
He said young people should not be blamed for a recent increase in infections despite growing concerns that they are driving its spread after restrictions and lockdowns were eased around the world.
The WHO is continuing talks with China about its possible involvement in the COVAX financing scheme designed to guarantee fast and equitable access globally to COVID-19 vaccines, a week after the deadline for committing passed.