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Container rates soar on concerns of prolonged Red Sea disruption, inflation
"Tanker rates will increase and futures are up this morning," said...
Tesla, Volvo Car pause output as Red Sea shipping crisis deepens
Late on Thursday, Tesla told Reuters it will suspend most car...
Positive news on Oxford/AstraZeneca COVID-19 vaccine could come Thursday:report
AstraZeneca’s experimental vaccine is probably the world’s leading candidate and most advanced in terms of development, the World Health Organization’s chief scientist said in June.
The company has signed agreements with governments around the globe to supply the vaccine should it be cleared for use.
‘Tough day’ for Twitter after hack targets tycoons,stars,politicians
Shares in the social media company tumbled almost 5% in trading after the market close before paring their losses.
In the hours after the initial breach, some of the platform’s biggest users appeared to be struggling to re-establish control of their accounts. In the case of billionaire Tesla Chief Executive Elon Musk, for example, one tweet soliciting cryptocurrency was removed and, sometime later, another one appeared, and then a third.
Among other high profile accounts affected: rapper Kanye West, Amazon founder Jeff Bezos, investor Warren Buffett, Microsoft co-founder Bill Gates, and the corporate accounts for Uber and Apple . Several accounts of cryptocurrency-focused organizations were also hijacked.
Six Harvey Weinstein accusers call $18.9 million New York settlement a ‘cruel hoax’
In a Manhattan federal court filing, the six women said accusers would receive just $11.2 million after deducting legal fees and costs, with typical awards of just $10,000 to $20,000, while shielding the defendants’ insurers from big payouts.
They also complained that the accord “absolved” Weinstein, his brother Bob Weinstein and the board of liability, while setting aside another $15.2 million to help cover their defense costs.
Covid-19 Pandemic:Global reinsurnace capital shrinks by 6 % to $590 bn,tightening of reinsurance capacity expected:AON
Many reinsurers reported losses for the first quarter, driven by asset write-downs and the first installment of claims associated with the effects of the pandemic. The combined pre-tax loss for the 18 constituents of Aon’s Reinsurance Aggregate (‘the ARA’) that reported was USD3.8 billion.The average combined ratio was 103.2 percent, with USD3 billion of COVID-19 related losses recognized.
UK bans Huawei from 5G network, orders telcos to stop buying its equipment
Britain imposed the ban after the US threatened to sever an intelligence-sharing arrangement because of concerns Huawei equipment could allow the Chinese government to infiltrate UK networks.
India has now less stunted children but more obese adults
More Indian adults became obese between 2012-16, the report said.
The number of adults (18 years and older) who are obese grew from 25.2 million in 2012 to 34.3 million in 2016, growing from 3.1 per cent to 3.9 per cent.
Asian waters account for most shipping losses,global numbers hit record low:AGCS
According to the report, the South China, Indochina, Indonesia and Philippines maritime region remains the top loss location with 12 vessels in 2019 and 228 vessels over the past decade – one in four of all losses. The Japan, Korea and North China region saw 2 vessels lost in 2019 and is the third largest loss location overall with 104 since 2010. High levels of trade, busy shipping lanes, older fleets, typhoon exposure, and safety issues on some domestic ferry routes are contributing factors. However, in 2019, losses declined for the second successive year, mirroring a global trend.
Willis appoints Fabien Conderanne as Regional Head of Financial Solutions in Asia Pacific
Scott Burnett, Head of Asia and Head of Corporate Risk and Broking for Asia at WTW adds, “We now live in extraordinary times where the relevance of our solutions and services to our clients has never been more urgent. We invest the time and resources to understand each client’s business, as well as the economic and credit risks that arise from operating in a world where geopolitical threats and regulations are in constant flux. Fabien’s appointment reflects both a commitment to grow our talent and support our clients so that they can build resilience, wherever they operate in Asia.”
Markel appoints Head of Renewable Energy,first ever based in Asia
Commenting on the new appointment,Rohan Davies, divisional managing director of energy, Market, said,“Tom’s solid track record and wealth of international experience in renewable energy are invaluable as we continue our ambitious plans for growth in this important sector.“Markel has a strong reputation of delivering leading risk-transfer products and service in the energy space. With Tom strategically based in the rapidly growing Asian market, his appointment as Markel’s new global head is a reflection of our commitment to renewable energy in our global portfolio.”
WHO warns that coronavirus crisis may get ‘worse and worse and worse
“Let me be blunt, too many countries are headed in the wrong direction, the virus remains public enemy number one,” WHO Director General Tedros Adhanom Ghebreyesus told a virtual briefing from the U.N. agency’s headquarters in Geneva.