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Global insured NatCat losses over $135 billion in 2024 , says Swiss Re
Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, says:...
ByteDance asks intern in AI breach case to pay $1.1 million damages
The case has drawn attention due to its focus on AI LLM training, a...
Indian stores shuttered by farmer protests cost Reliance, Walmart millions in revenue: sources
One industry source said estimated losses for Reliance from its state-wide shutdowns run into millions of dollars. Two other sources said Walmart’s estimated revenue loss from its store, one of 29 such outlets nationwide, has crossed $8 million.
In November, Punjab estimated economic losses from the protests at $4 billion, while one industry group has pegged the overall hit to India’s economy at $9.6 billion.
Google removes some lending apps in India to protect consumers
The online lending industry has come to the attention of the authorities after at least two suicides in the past month linked to alleged harassment by recovery agents of such apps.
Toyota settles US probe into delayed emissions defect reports for $180 million
The government said the settlement resolved Toyota’s “systematic, longstanding violations of Clean Air Act emission-related defect reporting requirements, which require manufacturers to report potential defects and recalls affecting vehicle components designed to control emissions.”
Acting U.S. Attorney Audrey Strauss in New York said: “Toyota shut its eyes to the noncompliance, failing to provide proper training, attention, and oversight to its Clean Air Act reporting obligations.”
WhatsApp faces first legal challenge in India over privacy
California-based WhatsApp said on Jan. 4 it reserved the right to share some data including location and phone number with Facebook and its units such as Instagram and Messenger.
That triggered outrage, including in its biggest market India where it has 400 million users.
Covid-19: No herd immunity in 2021, WHO warns
WHO’s chief scientist Soumya Swaminathan warned it would take time to produce and administer enough vaccine doses to halt the spread of the virus.
“We are not going to achieve any levels of population immunity or herd immunity in 2021,” she said, stressing the need to maintain physical distancing, hand-washing and mask-wearing to rein in the pandemic.
BioNTech, warned that Covid-19 would “likely become an endemic disease”, and said vaccines would need to fight against the emergence of new viral variants and a “naturally waning immune response”.
India wants Pfizer to do local study before approval
“As of now, the pre-condition for any vaccine to be implemented in India is that you have to do a bridging trial,” Vinod K. Paul, who heads a government panel on vaccine strategy, said in an interview in his office near the parliament building.
Google launches $3 mn fund to fight misinformation around Covid vaccine
“While the Covid-19 infodemic has been global in nature, misinformation has also been used to target specific populations,” said Alphabet’s Google
“Some of the available research also suggests that the audiences coming across misinformation and those seeking fact checks don’t necessarily overlap.”
Ship insurers primed to raise rates after Red Sea attacks
“We are seeing increased rates for vessels making port calls in the Red Sea due to concerns over risk of attack by militia groups, whereas previously this was of an issue of more concern in the Arabian Gulf,” said Mike Ingham with insurance broker Gallagher. “This will be impacting vessels travelling to Red Sea ports such as Jeddah.”
Domestic hospitality industry to contract by 65 pc in FY21: Report
A sharp demand recovery is possible in the later part of the financial year 2021-22, as vaccine rollouts gain traction.
Much though will be contingent upon the spread of the pandemic and success of vaccination efforts, the report by Icra said
Chinese hackers luring Indian WhatsApp users into ‘part-time’ jobs
Such proliferating messages on WhatsApp, which come with attached links, claim that one can earn Rs 200 to Rs 3,000 in a day in 10 to 30 minutes.
“There are multiple links that redirect to a common URL and each link uses different numbers to send a message,” New Delhi-based think-tank Cyberpeace Foundation said in a statement.