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Bayer ordered to pay $2.25 billion in latest Roundup trial
Bayer was ordered on Friday to pay $2.25 billion to a Pennsylvania...
Italy fines first city for privacy breaches in use of AI
The authority - one of the EU's most proactive in assessing AI...
Reliance Industries now the second biggest brand globally after Apple
One of the most profitable companies in India, Reliance is, “very well respected” and “seen as behaving ethically” as well as being associated with “growth”, “innovative products” and “great customer service”, it said. “In particular, people have a strong emotional connection with the organisation.”
FutureBrand, which is a global brand transformation company, said part of Reliance’s success could be attributed to Mukesh Ambani’s recasting of the firm as a one-stop-shop for Indians.
Lloyd’s appoints new Country Manager for Singapore
“Lloyd’s Asia is a key distribution hub for the Lloyd’s market in Asia Pacific, providing our brokers and clients in the region with local access to the specialist products and expertise we are renowned for. I am looking forward to working closely with our market to support their development plans and introducing solutions developed under The Future at Lloyd’s strategy as we continue to be the platform of choice for specialist (re)insurance in the region.”
Pavlos Spyropoulos,Country Manager, Singapore and CEO, Lloyd’s Asia
Insurers face possible British action over calculation of pandemic payouts
Some insurers were making deductions for government loans – which businesses had received as a result of the pandemic – when calculating payouts.
The FCA said this could be appropriate but insurers should not take a one-size-fits-all approach and make uniform deductions.
The Financial Conduct Authority (FCA) has taken eight insurers to court over business interruption policy wordings, which the insurers say do not cover the pandemic, with a ruling expected in mid-September.
But the case does not address how any resulting claims payments would be calculated, the FCA said on Monday.
Aviation sector has biggest pandemic default risk:insurance survey
Pandemic-related credit insurance claims are, however,likely to rise later this year or early next year, as businesses struggle to stave off default, said Matthew Solley, managing director of structured credit and political risks at Gallagher.
Aviation, oil and energy, and tourism were the three sectors in their portfolios that concerned insurers the most.
Chinese artificial intelligence company files $1.4 bn lawsuit against Apple In patent fight
The company is calling for 10 billion yuan ($1.4 billion) in damages and demands that Apple cease “manufacturing, using, promising to sell, selling, and importing” products that infringe on the patent, it said in a social media post.In the lawsuit filed in a local Chinese court, Xiao-i argued that Apple’s voice-recognition technology Siri infringes on a patent that it applied for in 2004 and was granted in 2009.
Rich nations rush to lock up Covid vaccines:What about rest of the world?
The World Health Organization, the Coalition for Epidemic Preparedness Innovations, and Gavi, the Vaccine Alliance are working together to bring about equitable and broad access. They outlined an $18 billion plan in June to roll out shots and secure 2 billion doses by the end of 2021
India may see the most Covid 19 cases in the world
It’s looking increasingly likely that India will wind up being the country with the most cases in the world. This is not just a function of its massive population; China, too, has over 1 billion people. It is a reflection of the fact that big, diverse countries are at a disadvantage in dealing with pandemics
How Elon Musk faced `reputation risk’ successfully
It’s a remarkable turnaround from the dark days of 2018, when Tesla struggled to ramp up production of the Model 3 sedan, scores of executives quit and Musk was sued by the U.S. Securities and Exchange Commission over his infamous “go private” tweet.
This year’s share rally has made the California company the world’s most valuable automaker, with a market value of roughly $267 billion as of Friday’s close.
And then there’s Musk himself. The 49-year-old South African immigrant, who is a Los Angeles-based celebrity as much as a Silicon Valley CEO, is now the 10th richest person in the world, according to the Bloomberg Billionaires Index.
Anxious WHO implores world to ‘do it all’ in long war on COVID-19
WHO Director-General Tedros Adhanom Ghebreyesus and WHO emergencies head Mike Ryan exhorted nations to rigorously enforce health measures such as mask-wearing, social distancing, hand-washing and testing.
“There are concerns that we may not have a vaccine that may work, or its protection could be for just a few months, not more. But until we finish the clinical trials, we will not know,” he said
AstraZeneca to be exempt from coronavirus vaccine liability claims in most countries
With 25 companies testing their vaccine candidates on humans and getting ready to immunize hundred millions of people once the products are shown to work, the question of who pays for any claims for damages in case of side effects has been a tricky point in supply negotiations.“This is a unique situation where we as a company simply cannot take the risk if in … four years the vaccine is showing side effects,” Ruud Dobber, a member of Astra’s senior executive team, told Reuters.
“In the contracts we have in place, we are asking for indemnification. For most countries it is acceptable to take that risk on their shoulders because it is in their national interest,” he said, adding that Astra and regulators were making safety and tolerability a top priority.