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“The media companies involved have incurred losses due to a less...
European reinsurers’ renewals indicate peaking underwriting margins: Fitch
``We expect strong underwriting profitability to continue...
COVID-19 vaccine may be ready by year-end, says WHO’s Tedros
Nine experimental vaccines are in the pipeline of the WHO’s COVAX global vaccine facility that aims to distribute 2 billion doses by the end of 2021
U.S. FDA safety guidelines likely to push COVID-19 vaccine authorization past election
The White House could still force authorization of a vaccine without that additional safety data. Doing so would put it in open disagreement with the FDA and its career scientists, and add to the perception that politics was playing a role in pushing out a vaccine.
If the agency follows its own guidelines, it is unlikely to authorize a vaccine before sometime in late November. It wants two months of data from half of a trial’s volunteers.
Airlines warn of more bankruptcies as wage support ends
Airlines consumed $51 billion in cash in the second quarter as the pandemic brought global travel to a near-standstill, the industry body said.
Whereas the withdrawal of subsidies makes sense for sectors in recovery, IATA warned of further airline bankruptcies in the northern hemisphere winter as the collapse in revenue continues to dwarf cost savings. The average carrier now has cash for 8.5 months of operations, Brian Pearce, chief economist at the International Air Transport Association (IATA), told reporters
SCOR to strengthen regional focus,carves out “APAC Emerging Market’ to be headed by India’s Mukul K
“This has led us to create a new position of P&C Regional Head – of EMEA and the Americas respectively – on top of our existing APAC organization, and to re-organize the reinsurance teams into four different regions with more homogenous client needs, i.e. Europe, North America, APAC Mature markets, and Fast-Growth markets.” said SCOR Global P&C CEO Jean-Paul Conoscente ,
APAC Emerging Markets,that excludes SCOR’s operations in Japan, South Korea & ANZ, will be led by Mukul Kishore, who continues as the CEO of SCOR’s India branch operations
One in 10 may have caught COVID, as world heads into ‘difficult period’: WHO
“Our current best estimates tell us about 10% of the global population may have been infected by this virus. It varies depending on country, it varies from urban to rural, it varies depending on groups. But what it does mean is that the vast majority of the world remains at risk,” Ryan said. “We are now heading into a difficult period. The disease continues to spread.”
U.S. Supreme Court takes up energy companies’ appeal over climate damage lawsuit
The U.S. Supreme Court on Friday agreed to hear an appeal by energy companies including BP PLC, Chevron Corp, Exxon Mobil Corp and Royal Dutch Shell PLC contesting a lawsuit by the city of Baltimore seeking damages for the impact of global climate change.
India and South Africa ask WTO to waive rules to aid COVID-19 drug production
In their letter dated Oct. 2 the two countries called on the global trade body to waive parts of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), which governs patents, trademarks, copyright and other intellectual property rules globally.“As new diagnostics, therapeutics and vaccines for COVID-19 are developed, there are significant concerns (over) how these will be made available promptly, in sufficient quantities and at (an) affordable price to meet global demand,” the letter posted on the Geneva-based WTO’s website says.
Global stocks rise as signs of Trump’s improving health calm markets
Doctors treating Trump say they are pleased with his progress. Relief about his health could fuel a rally in equities and other risky assets as investors prepare for the run-up to next month’s U.S. presidential election.
Investors around the world were stunned late Thursday after Trump announced that he and the first lady had tested positive for coronavirus.
London transport regulator strips Ola’s operating licence over public safety failings
Transport for London (TfL) said in a statement that it refused to grant Ola, a Softbank-backed operator, a new London private hire vehicle (PHV) operator’s licence as it “cannot find it fit and proper to hold one after discovering a number of failures that could have risked public safety.”
TfL’s decision came days after Uber won a legal bid to restore its London operating licence, which was taken away over safety concerns, after a judge ruled that the company was a fit and proper operator despite “historical failings”.
Coal baron seeks US benefits to treat his black lung disease:Report
Murray, an ally of President Donald Trump, filed a claim with the Department of Labor seeking to access federal benefits to treat his disease, which is caused by prolonged exposure to coal dust, Ohio Valley ReSource, a National Public Radio affiliate, reported on Thursday.
The Black Lung Disability Trust Fund is funded through a $1.10 per ton excise-tax on production of underground coal but runs a massive debt and is at risk of insolvency, according to the U.S. General Accountability Office.