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Top central bankers assert need for higher interest rates to tackle persistent inflation
The clear message was that rates would stay high until the...
Some Dutch people seeking euthanasia cite autism or intellectual disabilities, researchers say
Between 2012 and 2021, nearly 60,000 people were killed at their...
J&J loses motion to overturn $4.7 billion talc-ovarian cancer verdict
Surendranath Sai, a regional drug officer in the southern state of Telangana, on Wednesday said he had instructed inspectors to seize samples there.
“On the basis of the news report, we are alerting staff to pick up samples. We will test them in a drug control lab here,” said Sai. “We will take action accordingly. Certainly we are worried because millions of babies may be affected.”
Cryptocurrency industry faces insurance hurdle to mainstream ambitions
“Most institutionally minded crypto firms want to buy proper insurance, and in many cases, getting adequate insurance coverage is a regulatory or legal requirement,” said Henri Arslanian, PwC fintech & crypto leader for Asia.
Marriott Breach losses to be between $200 mn and $600 mn:AIR
“AIR’s new probabilistic security breach model shows that this type of event is not unprecedented, even though an event of this magnitude hasn’t previously happened to a hotel chain,” said Scott Stransky, assistant vice president and director of emerging risk modeling, AIR Worldwide.
“In fact, the largest recorded breach for a U.S.-based hotel chain prior to this event was less than 1/50 the size in terms of the number of records stolen. There are more than 300 simulated events in our model that cause higher losses for U.S.-based hotels.”
Facebook users need Rs 70,000 to deactivate account for one year
“Social media, and the internet more broadly, have changed the way we live and the way we keep in touch with friends and family, but it’s hard to find evidence that the internet has made us richer or more productive at work,” said Jay Corrigan, a professor at Kenyon College in the US.We know people must derive tremendous value from Facebook or they wouldn’t spend millions of hours on the site every day. The challenge is how to put a dollar value on a service people don’t pay for,” Corrigan said
Global insured losses of $79 billion in 2018, 4th highest
Total economic losses from natural catastrophes and man-made disasters are estimated to be USD 155 billion in 2018. Natural catastrophes caused USD 146 billion of the losses, and man-made disasters USD 9 billion. Of the total economic losses, USD 79 billion have been covered by insurance, down from USD 150 billion in 2017, but more than the previous 10-year annual average (USD 71 billion).
J&J moves to limit impact of Reuters report on asbestos in Baby Powder
Senator Edward Markey, a Massachusetts Democrat on the Environment and Public Works Committee, on Friday sent a letter to the head of the US Food and Drug Administration calling on the agency to investigate the findings in the Reuters report to determine whether J&J misled regulators and whether its Baby Powder products threaten public health and safety.
HDFC Int Life & Re assigned “BBB” rating with stable outlook by S&P
Its business consists of both treaty and facultative reinsurance arrangements assumed from ceding companies in the GCC region, relating to a broad range of life insurance product lines covering individual life, group life and group credit life
Novartis may team with Reinsurers to cut Drug Costs, FT Reports
Reinsurers, which already provide a backstop to employer health insurance plans, could benefit from this new revenue amid increasing competition from rival sources of risk capital, the FT said. Reinsurers could pool the costs of treatments by different drug companies across countries
AIG arranges first CLO Deal since financial crisis
AIG’s last deal prior to the crisis was called Galaxy X CLO, managed by Lehman Brothers and sold in February 2008, according to data compiled by Bloomberg. The spun-off PineBridge then took over the series and issued its first post-crisis deal, Galaxy XI CLO, in July 2011.
J&J begins settling Pinnacle Hip Implant defect claims
J&J is set to face a trial Jan. 14 in Dallas where five recipients of the Pinnacle hip will press claims that the world’s largest health-care products company failed to warn customers about the devices’ risks. A similar 2016 case produced a $1 billion verdict for multiple plaintiffs.