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World losing race to meet climate goals, COP28 president says
While Africa is suffering from some of the most severe impacts of...
S&P Global raises reinsurance sector view to stable from negative on higher prices
Analysts at S&P Global and Moody’s also told media briefings on...
Coronavirus could knock $211 bn off APAC economies,Japan most vulnerable
S&P did not cut growth forecasts for emerging markets of Indonesia, Malaysia, the Philippines and India, citing the fact that reported infections in those countries were still low.
Top UK firms face tougher climate disclosure rule
-The Investment Association, which represents managers of 7.7 trillion pounds ($10 trillion) in assets such as shares, said Britain’s largest listed companies should start reporting on climate risks immediately.
-There are 480 premium-listed companies on the London Stock Exchange with a combined capitalisation of 2.3 trillion pounds or 60% of total market capitalisation.
Coronavirus wreaks financial havoc as infections near 100,000
European stocks continued their slide after the Japanese market dropped to a six-month low, with 97% of shares on the Tokyo exchange’s main board in the red.
UK’s Aviva to Sell Entire Stake in Indonesia Joint Venture
Aviva began a review of its Asia business in 2019 under new CEO Maurice Tulloch. It said in November that it had decided to keep its Singapore and China operations, but was considering options for its Indonesia, Vietnamese and Hong Kong businesses.
Lawsuits against businesses over Coronavirus have begun. More to come?
Hospitals, restaurants, day care centers, nursing homes and hotels may face claims that they didn’t take adequate steps to protect people. Shareholders can sue if companies fail to act effectively in response to the epidemic. Businesses are scrambling to see if their insurance policies cover disruptions caused by the virus. Governments are reviewing their quarantine powers.
UK fines Cathay Pacific $639,000 for data-security lapses over 4-yr period
Between October 2014 and May 2018, Cathay Pacific’s computer systems “lacked appropriate security measures which led to customers’ personal details being exposed, 111,578 of whom were from the UK, and approximately 9.4 million more worldwide,” the UK Information Commissioner’s Office said in a statement on its website on Wednesday.
As India coronavirus cases spike, experts daunted by prospect of South Asia spread
“There is a strong possibility that the number of cases in India is much higher than what has been detected,” Arunkumar G., director of the Manipal Institute of Virology, said, citing a virus incubation of up to two weeks.
Parametric insurance could offer hotels relief from Coronavirus cancellations
The new hotel product is led by Tokyo Marine Kiln (TMK) and underwritten by Chaucer, Munich Re Syndicate, Beazley, Faraday and AXIS.
Coronavirus may force companies to rethink global supply chains: OECD Economist
The sprawling, continent-crossing supply chains of corporations have already come under pressure from trade tensions and climate concerns, and may face further stress as countries change global taxation rules. If and when the dust settles from the coronavirus, OECD’s chief economist Laurence Boone said firms will likely pause to reconsider what they do.
Half of world’s sandy beaches May Disappear, Say Climate Researchers
-Some countries will be more affected than others, the researchers said. Gambia and Guinea-Bissau in West Africa could lose more than 60% of their beaches, while predictions for Iraq, Pakistan, the island of Jersey in the English Channel and the Pacific island of Palau are similarly dire.
-Australia would be hardest-hit in terms of total beach coastline lost, with over 12,000 kilometers (7,500 miles) at risk. The United States, Canada, Mexico, China, Iran, Argentina and Chile would also lose thousands of kilometers (miles) of beach, according to the study.