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China issues temporary rules for generative AI services
The Cyberspace Administration of China, which released the set of...
Russia’s flagship crude oil surpasses G-7 price cap for first time
For some buyers of the Russian flagship crude, the breaching of the...
InsurTech investment buoyant in Q2, 2019:Willis Towers Watson
69 deals with a total value of $1.41 billion were announced in Q2, 2019. The value of investments in property/casualty-focussed firms rose by 283% compared to Q2, 2018, and Life & Health deals by 259%. The number of strategic investments by (re)insurers hit a record high of 36.
French reinsurer SCOR reports 62% rise in net profit during 2nd quarter
Company CEO Denis Kessler mentioned that there had been higher than expected costs related to natural catastrophes in the U.S. and in Japan in late 2018, that were booked in the first quarter of 2019.There were also costs associated with Brexit, which forced the reinsurer to incorporate new firms outside the U.K.
Allergan announces global recall of textured breast implants
Allergan Plc said on Wednesday it was recalling its Biocell textured breast implants and tissue expanders across markets, citing concerns over a rare form of cancer, after the U.S. health agency asked the drugmaker to pull the products. The Food And Drug...
African Swine fever detected at another Bulgarian Pig Farm
Bulgaria, a European Union member, has also reported around 20 cases of the disease in dead wild boars, in various regions, including border provinces with Romania.Experts say 500,000 pigs could be culled due to the highly contagious disease that does not, however, affect humans.
AIG appoints first chief sustainability officer
To provide greater transparency into this strategy and align reporting activities with industry standards, the company has issued its first Task Force on Climate-related Financial Disclosures (TCFD) report.
Europe faces heatwave with London and Paris expected to break July records
Europe is facing a second heatwave this summer, just weeks after the hottest June on record, intensifying concern over climate change and the rise in extreme weather events. Swathes of northwest Europe will struggle to remain cool as a blast of hot air from the...
US home insurance leader Hippo Insurance raises $100 million
Hippo is building faster, more accurate and more affordable homeowners insurance for today’s customers. The company’s data-driven pricing and real-time underwriting analyzes trusted public data sets, from municipal building records to satellite imagery of physical property characteristics, to develop a more accurate profile of a customer’s property, resulting in qualified customers receiving a comprehensive, tailored and accurate quote in under 60 seconds, and reduced premium costs of up to 25 percent
U.S. slaps $5 billion fine against Facebook, other privacy settlement terms
“Despite repeated promises to its billions of users worldwide that they could control how personal information is shared Facebook undermined consumers’ choices,” said FTC Chairman Joe Simons, a Republican, in a statement.
Group of German companies – including BASF, Siemens, Roche – hit by cyber attacks
Public broadcaster ARD said the hackers used a type of malware called Winnti, which allows attackers to remotely access a victim’s computer network. ARD said an analysis of the malware code showed which companies were targeted by a group likely working for the Chinese government.
Rhine river shipping faces another historic shutdown as drought hits water levels
Reflecting a trend seen in the Himalayas, the Rockies and other mountainous regions of the world, alpine glaciers have shrunk steadily as global warming makes melting in summer outpace accumulation of snow in winter. That means there’s less water feeding rivers each year. An April study by ETH Zurich predicts that half of the Alps’ glaciers could disappear within three decades.