The Madras High Court in the southern state of Tamil Nadu has asked...
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Meta, Google, TikTok must face schools’ addiction claims in US
The companies also face significant exposure from hundreds of...
Lloyd’s and UNCDC establish first of its kind disaster resilience vehicle for Small Island Developing States
Initially covering Fiji, Papua New Guinea and Samoa, the vehicle...
Global investors including insurers urge Brazil to stop deforestation
The 25 European signatories include Norway’s Nordea Asset Management and the Church of England, which has a 2.8 billion pound ($3.5 billion) pension fund. The UK’s Legal & General Investment Management (LGIM) is among the largest investors with 1.2 trillion pounds under management.
The letter does not spell out consequences if Brazil’s government does not take action, but seven European financial firms told Reuters last week they could divest from Brazil-linked holdings if environmental destruction continues. Many of those firms also signed the letter to embassies.
Frustration, fear and family: lockdowns test investment bankers
Global M&A volumes are down 41% so far this year, a far cry from the champagne-popping records of recent years when bankers at Goldman Sachs, JPMorgan, Morgan Stanley, Citi and Bank of America – the top five dealmakers – were the toast of Wall Street.
Massive government support for companies, particularly in Europe, is keeping many firms afloat and delaying the kind of lucrative takeover deals that have put M&A advisors at the top of the investment banking world, bankers and lawyers said.
IRDAI forms panel to suggest ways to insure drone technology
Among other issues,the committee will make recommendations relating to design and development of product/s meeting the needs of RPAS owners and operators, including Third Party Liability,make recommendations relating to underwriting of such risks including the re-insurance perspective and examine any other relevant matter relating to the subject.
Apple,other U.S. goods from China held up at Indian ports: sources
The U.S.-India Strategic Partnership Forum (USISPF), a lobby group representing U.S. firms, told India’s commerce ministry in a letter dated June 23 that lack of clarity and delays could disrupt business and manufacturing operations.
Bayer to pay up to $10.9 billion to settle bulk of Roundup weedkiller cancer lawsuits
As of April, the company had been sued by 52,500 U.S. plaintiffs who blame glyphosate-based weedkillers for their cancer, up from 48,600 in February. Law firms had lined up tens of thousands of additional claimants with cases yet to serve.
CCRIF pays Guatemala $3.6 mn under its excess rainfall parametric insurance policy
CCRIF currently has 22 member governments of which three are from Central America – Nicaragua, Panama, and Guatemala. Since its inception in 2007, CCRIF has made a total of 43 payouts for 21 events (earthquakes, tropical cyclones, and excess rainfall events) to 14 member governments totalling US$155.8 million. CCRIF’s payouts are made within 14 days of an event, allowing governments to begin to address their most pressing needs and close the liquidity gap.
Probe finds procedure violations in Pakistan airliner crash, minister says
Presenting an initial inquiry report in parliament, Ghulam Sarwar Khan said the pilots were not “focused” because of the coronavirus pandemic, although the aircraft was “100% fit”.
Companies hit with $1.8 billion cyber losses,six-fold increase in 2020 :Hiscox study
The highest recorded cyber loss was $87.9 million from a financial services firm in the UK.More than 6% of total respondents paid a ransom. Their combined losses came to $381 million.However the positive signs are that twice as many firms responded to a breach by adding new security and spending more on employee training.
There has been a shift in the hackers’ behaviour in the last six to 12 months as they focus more on industries such as energy and manufacturing.
Govt warns against large-scale phishing attacks using COVID-19 as bait
‘Such emails are designed to drive recipients towards fake websites where they are deceived into downloading malicious files or entering personal and financial information,’ Indian Computer Emergency Response Team (CERT-In) said in its latest advisory dated June 19.
The advisory noted that the ‘malicious actors’ are claiming to have 2 million individual/citizen email IDs and are planning to send email with the subject line: free COVID-19 testing for all residents of Delhi, Mumbai, Hyderabad, Chennai and Ahmedabad in a bid to coax users to disclose personal information
Coronavirus crisis: Centre extends Rs 50 lakh insurance cover for healthcare providers till September
The insurance cover despite being a well-publicised scheme, awareness of the same appearsto be little amongst some of State Nodal Agencies as a substantial number of some 75 claims, lodged till date are outside the purview of the policy on account of either the deceased not being a health worker or the deceased having died of other than corona related ailments, said Atul Sahay CMD, NIA.