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Malaysia may renew search for lost MH370 decade after it vanished
MH370 vanished on March 8, 2014, on its way to Beijing from Kuala...
UN chief appeals for greater support for small islands fighting climate change
“We must have stronger support from the international community -...
South Asia faces worst ever recession, tipping millions into poverty: World Bank
“The impact on livelihoods will even be larger than the GDP forecast suggests…This implies that the region will experience a sharp increase in the poverty rate,” the bank said in its bi-annual report.
India, the region’s biggest economy, is likely to see its economy contract by 9.5% this year, the report said.
WHO reports record one-day rise in global coronavirus cases amid European outbreak
As a region, Europe is now reporting more cases than India, Brazil or the United States.
According to a Reuters analysis of more recent country data, COVID-19 infections are rising in 54 countries, including surges in Argentina, Canada and much of Europe.
Infections in the United Kingdom have reached record levels with over 17,000 new cases reported on Thursday.
“We are seeing a definite and sustained increase in cases and admissions to hospital. The trend is clear, and it is very concerning,” said Dr Yvonne Doyle, medical director for Public Health England.
Hedge funds make pandemic bet on insurance
Investors reckon that in a world where virus outbreaks and climate disasters may be the new normal, innovative new insurance products such as those providing relief during future lockdowns or when staff sickness hinders business, will prove lucrative.
Even while share prices remain subdued, insurers’ debt sales for the most part have been oversubscribed this year, thanks to strong credit quality, typically in the single-A category.
Ant Group’s $35 bln IPO unlikely to be hurt by possible U.S. curbs
Ant is working towards a dual-listing in Shanghai and Hong Kong possibly as soon as this month in what sources have said could be the world’s largest IPO, surpassing oil giant Saudi Aramco’s 2222.SE $29.4 billion float in December.
U.S. President Donald Trump is considering curbs on Ant, an affiliate of Chinese e-commerce firm Alibaba and Tencent over concerns their payment platforms threaten national security, Bloomberg News reported on Wednesday.
If implemented, the restrictions would illustrate how Trump’s administration is seeking to prevent Chinese companies from embedding themselves in the U.S. financial system before they become a significant competitive threat.
U.S. forecaster sees 85% chance of La Niña through winter
La Niña is characterized by unusually cold temperatures in the equatorial Pacific Ocean and linked with floods and drought.
AXA XL announces appointments for Asia & Europe Business Unit
Xavier Veyry, Chief Executive Officer, Asia & Europe at AXA XL, said: “I’m delighted we could find the right people within our organisation to lead our underwriting, captives and claims capabilities in Europe and Asia, as well as our local teams. It reflects the quality of talent at AXA XL.”
U.S. lawmakers detail Big Tech’s market abuses and press for strict reform
The report by the antitrust subcommittee of the Judiciary Committee recommends that Alphabet Inc.’s Google, Apple Inc., Amazon.com and Facebook – with a combined market value of over $5 trillion – should not both control and compete in related businesses.
Google faces antitrust case in India over abuse in smart TVs market: Report
The case has been filed by two Indian antitrust lawyers, Kshitiz Arya and Purushottam Anand. They both confirmed the case filing against Google for alleged abuse in the smart television market, but declined to comment further.
The case is Google’s fourth major antitrust challenge in India, one of its key markets where it is currently facing public criticism from local startups for enforcing certain policies and company charges they contend hurt their growth.
September was world’s hottest on record, EU climate change service says
Extending a long-term warming trend caused by emissions of heat-trapping gases, high temperatures this year have played a major role in disasters from fires in California and the Arctic to floods in Asia, scientists say.
“As we go into an even warmer world, certain extremes are likely to happen more often and be more intense,” Copernicus senior scientist Freja Vamborg told Reuters, pointing to heat waves and periods of intense rain as examples of this.
U.S. appeals court revives Glaxo $235.5 million verdict against Teva
The case arose after Teva began selling a Coreg generic in 2007 with “skinny” labels indicating treatment for the first two conditions, and was required by the Food and Drug Administration to add congestive heart failure to the labels in 2011.
Glaxo, whose patent expired in 2015, sued Teva, and a Delaware jury ordered the Israeli drugmaker to pay $234.1 million for lost profit plus $1.4 million in royalties.
U.S. District Judge Leonard Stark overturned the verdict, saying other factors could have caused doctors to prescribe generic Coreg, including for congestive heart failure.