In its 2023-24 winter outlook, the regulatory authority warned that...
Category:
International News
Latest
GM’s Cruise recalling 950 driverless cars after pedestrian dragged in crash
The cars are being recalled because the collision detection...
Kia halts operations at S.Korea auto facility after accident at supplier
Kia said in a regulatory filing it had stopped production at three...
Global coronavirus cases rise to more than 11 million
The United States reported more than 55,400 new COVID-19 cases on Thursday, a new daily global record as infections rose in a majority of states. Several U.S. governors halted plans to reopen their state economies in the face of a surge in cases.
Almost a quarter of the known global deaths have occurred in the United States – nearly 129,000. A recent surge in cases has put President Donald Trump’s handling of the crisis under a microscope and led several governors to halt plans to reopen their states after strict lockdowns.
Latin America, where Brazil has 1.5 million cases, makes up 23% of the global total of people infected. India has become the new epicenter in Asia, rising to 625,000 cases.
SoftBank-backed Lemonade raises $319 million in IPO
Lemonade, started in late 2016, says it has digitized the entire insurance process, replacing brokers and paperwork with algorithms. It says it provides insurance policies to homeowners and renters in as little as 90 seconds and claim payments in three minutes.The IPO values Lemonade at $1.6 billion. That is less than the $2.1 billion it was valued at last year, after it raised $300 million in a funding round led by Japan’s SoftBank and which included insurer Allianz SE and Alphabet Inc’s venture capital arm GV. Lemonade has pursued breakneck revenue growth at the expense of widening losses.
Insurers anticipated a pandemic but could have responded better,says exec
David Williams, managing director of underwriting and technical services at AXA Insurance UK PLC.said the industry’s response to previous virus outbreaks, such as Severe Acute Respiratory Syndrome, or SARS, and the H5N1 avian flu strain, was “why we’ve ended up in a situation where 98% of business interruption policies in the U.K. don’t include the impacts of COVID-19.”
Another COVID-19 wave in 2nd half of 2020 could result in loss of 340 mln full-time jobs: ILO
Regionally, working time losses for the second quarter were: Americas (18.3 per cent), Europe and Central Asia (13.9 per cent), Asia and the Pacific (13.5 per cent), Arab States (13.2 per cent), and Africa (12.1 per cent).
Musk says Tesla is building ‘RNA microfactories’ for CureVac
CureVac, an unlisted German company, has said it is developing transportable, automated mRNA production units that it calls printers. They will be designed to be shipped to remote locations, where they can churn out its vaccine candidate and other mRNA-based therapies depending on the recipe fed into the machine.
FWD completes MetLife Hong Kong acquisition
FWD will be renaming and rebranding the newly acquired businesses in the next few months. At the same time, MetLife Hong Kong will continue to operate through all its existing channels across its businesses. All existing MetLife Hong Kong policies will continue to be honoured by FWD following the change in ownership.
Wimbledon and other events left more exposed to COVID-19 risk as insurers withdraw pandemic cover: GlobalData
That an event as high-profile as Wimbledon can’t renew its policy suggests it is unlikely that any major event in the UK will be able to have pandemic cover for business interruption in the immediate future, and going ahead with events before a vaccine is rolled out is extremely risky.
Huge acceleration of clean energy innovation needed to meet net zero target: IEA
“Without decarbonising the transport sector there is no chance whatsoever of meeting climate targets,” IEA executive director Fatih Birol told Reuters.
The four most critical clean technologies needing innovation are battery technologies, carbon capture and storage, bioenergy and low-carbon hydrogen, which are currently mostly in the development phase and/or costly.
Global CO2 emissions are expected to be 8% lower this year than in 2019 – their lowest level since 2010 – as energy demand has slumped due to the coronavirus pandemic, but they are likely to rebound as economies recover unless action is taken.
Fauci, CDC chief raise concerns about full airline flights
The CEOs of American and United have said that even with middle seats empty, it is impossible to follow 6-foot social-distancing on a plane, so airlines rely on masks, deep cleaning and air-filtration systems on planes to prevent spreading the virus.
China study warns of possible new ‘pandemic virus’ from pigs
The study highlights the risks of viruses crossing the species barrier into humans, especially in densely populated regions in China, where millions live close to farms, breeding facilities, slaughterhouses and wet markets.