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Airlines split over safety risk of Israel flights
Airlines have faced warnings over insurance cover in the wake of...
Governments join rescue effort as airlines face Israel insurance alert
Israel’s parliamentary finance committee said late on Tuesday it...
Citigroup launches new ESG investment banking group
“The current Covid crisis will elevate the importance of ESG to our clients, as they increasingly focus on more sustainable and resilient strategies and on recovery plans that help drive the just transition to a net-zero emissions future,” global BCMA heads Tyler Dickson and Manolo Falcó said in a memo to bankers sent on Tuesday.
Companies have become more focused on environmental, social and governance (ESG) factors in recent years as activists and investors put pressure on them and companies that put these considerations at the forefront are rewarded.
WHO oversight body backs pandemic review, suggests reforms
“An imperfect and evolving understanding is not unusual during the early phase of a novel disease emergence. Many uncertainties still remain about COVID-19,” the seven-member panel said. It warned that “rising politicization of pandemic response” is impeding defeat of the virus, adding: “WHO cannot succeed without unified global political support”.
IMF chief warns full global economic recovery unlikely in 2021
“We do need to keep trade flows open, especially for medical supplies, food, and longer-term to find a pathway to overcome what is happening now with this crisis,” Georgieva said. “We want to continue to build this more prosperous future for all by overcoming the scarring that may come from this crisis.”
China urges local firms to list in London with China Pacific Insurance leading the Pack
Under the London-Shanghai Connect Scheme, first announced in 2018, Chinese companies are allowed to add a secondary listing of Global Depositary Receipts in Britain that would be linked to shares in Shanghai.
Italy to protect businesses from liability if workers catch Covid-19
While infections are categorized as workplace accidents under the government’s decree on reopening the economy, business owners won’t automatically face penalties if employees contract the illness, said Franco Bettoni, president of Inail.
Few Coronavirus liability lawsuits have been filed thus far in US
There are 197 class actions, largely brought by consumers, stemming from disputes over insurance, lending, tuition and ticket refunds.
“The idea of a mountain of liability is grossly exaggerated,” said Paul Bland, the executive director of Public Justice, a litigation advocacy group.
Maritime advisory by U.S. sanctions for ship owners,insurers
The guidelines, known as a Global Maritime Advisory, concern sanctions on Iran, North Korea and Syria. The State Department said it is committed to disrupting sanctions evasion and smuggling of goods, including oil exports from Iran, which the Trump administration imposed sanctions on soon after pulling out of the Iran nuclear deal in 2018.
Global shippers and insurers had balked at an initial outline of the advisory that the State Department previewed in March, arguing it would have disrupted international trade with legal questions.
AXA to provide medical support to customers of 5,000 Accor hotels worldwide
“AXA’s ambition is to move from a payer to a partner with its customers, notably by providing them with innovative solutions in health. This is why AXA has become over the last year a world leader in telemedicine solutions. Partnering with Accor, a worldwide leader in hospitality, is a unique opportunity to enlarge people’s access to our healthcare expertise and solutions. As we are facing an unprecedented health crisis with Covid-19, this ambition has never been more relevant, said Thomas Buberl, CEO of AXA.
Health groups ask India to rescind Gilead’s patents for COVID-19 drug remdesivir
“The licenses divide the global market into two and profitable markets are retained with Gilead and less profitable markets are given to the five generic companies,” said K. Gopakumar, senior legal researcher at Third World Network, which sent a letter to the Indian government on Wednesday.
Covid-19 could cause economic loss up to $8.8 trn, 9.7% of global GDP: ADB
The ADB’s forecast, equal to 6.4% to 9.7% of global gross domestic product, was worse than projections in April when it said the global economy could suffer between $2.0 trillion and $4.1 trillion in losses, depending on how long containment measures were in place.
Measures to contain the spread could inflict $1.7 trillion to $2.5 trillion in economic losses in Asia, and between $1.1 trillion and $1.6 trillion in China, the ADB said.