The United States Geological Survey said the quake's epicenter was...
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Global job scam to cause $100 mn in losses for over 1,000 companies: Report
Nicknamed ‘Webwyrm’, hackers in the global-scale job scam have...
From Ukraine to Taiwan, satellite firms wrangle with geopolitics in space
In March, Taiwan reported that two undersea cables to some of its...
Researchers double U.S. COVID-19 death forecast, citing eased restrictions
The latest forecast predicts the cumulative number of U.S. deaths from COVID-19 will run from as few as 95,092 to as many as 242,890 by Aug. 4 – with 134,475 lives lost representing the most likely, middle ground.
By comparison, the previous revision issued on April 29 put the middle-case figure at 72,400 deaths, within a range between 59,300 and 114,200 fatalities.
AIG launches Lloyd’s Syndicate 2019, largest Syndicate to reinsure risks from insurer’s Private Client Group
AIG will now operate the ninth largest managing agency in the Lloyd’s market, in terms of capacity.For Lloyd’s and the third-party investors and capital providers, Syndicate 2019 represents a compelling opportunity to access the highly attractive High Net Worth segment.
Intel buys Moovit transit app for $900 mn to develop self-driving robotaxis
Intel forecasts robotaxis will be a $160 billion market by 2030.
The decision to buy now, when much of the world economy is at a standstill due to the coronavirus outbreak, stems from Mobileye’s ability to more accurately predict when its technology will be ready, Mobileye CEO Amnon Shashua said. And the target is 2022.
COVID-19 Pandemic:“None of us is safe until all”says UN Chief
“Comprehensive, coordinated public health measures are critical to slow transmission and to save lives. But even countries that have taken such steps remain in jeopardy. And the virus is still likely to strike many countries that are least able to cope. In an interconnected world, none of us is safe until all of us are safe,” UN Secretary-General Antonio Guterres said
Covid-19 Pandemic:IASB proposes deferring IAS 1 amendments’ effective date implementation
The Board is not proposing any changes to the original amendments other than the deferral of the effective date.
Tens or 100s of billions? Insurers consult crystal balls on coronavirus costs
Losses could exceed $500 billion if state lawmakers require insurers to cover business-interruption claims for pandemic losses, former CNA Financial Corp Chief Executive Dennis Chookaszian told Reuters. Most policies exclude that risk, but insurers are facing lawsuits over it and eight U.S. states are considering laws to retroactively make insurers pay such claims.
World leaders pledge $8 billion to fight COVID-19 but U.S. steers clear
British Prime Minister Boris Johnson, who has recovered from a life-threatening battle with COVID-19, said the search for a vaccine was “the most urgent shared endeavour of our lifetime”, calling for “an impregnable shield around all our people”.
Trump administration pushing to rip global supply chains from China: officials
“We’ve been working on [reducing the reliance of our supply chains in China] over the last few years but we are now turbo-charging that initiative,” Keith Krach, undersecretary for Economic Growth, Energy and the Environment at the U.S. State Department told Reuters.
The pandemic has highlighted China’s key role in the supply chain for generic drugs here that account for the majority of prescriptions in the United States. It has also shown China’s dominance in goods like here the thermal cameras needed to test workers for fevers, and its importance in food supplies.
Global coronavirus cases surpass 3.5 million amid underreporting fears
Globally, there were 74,779 new cases over the past 24 hours, according to the Reuters tally that is based on official government data, taking total cases to around 3.52 million.
“We could easily have a second or a third wave because a lot of places aren’t immune,” Collignon said, noting the world was well short of herd immunity, which requires around 60% of the population to have recovered from the disease.Peter Collignon, an infectious diseases physician and microbiologist at Canberra Hospital, told Reuters
Quarterly global InsurTech fundraising trend slashed by over 50%, COVID-19 a likely culprit:Willis Towers Watson
InsurTechs raised a total of US$912 million during the first three months of 2020.Deal count, at 96, was up 28% over Q4 2019, 10% more than the first quarter of that year. It is the highest number of investment rounds by transactional volume ever recorded by the Quarterly InsurTech Briefing.Overall total funding was down by 54 percent, however, reflecting in part far fewer ‘mega-deals’ (US$100 million-plus deals) taking place in the year so far.