Oxford Economics estimated that a strike would cost the US economy...
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India’s monsoon rains hit four-year high in boost to crop output
India badly needed good rainfall in 2024 after its driest year in...
Tata iPhone component plant halts production indefinitely after fire
The fire broke out at the plant in Tamil Nadu state early on...
Trump signs executive order aimed at regulating social media companies
Trump’s actions seek to blunt Section 230 of the Communications Decency Act which immunises websites from legal liability for the comments of their users. According to the President, Twitter’s fact checks amount to political activism and social media companies should not be shielded from lawsuits for what is posted on their platforms.
Coronavirus impact on shipping industry: idle vessels face new risks, Allianz warns
“An unplanned lay-up can result in a prolonged recommissioning exercise that can last for months, even requiring docking. Comprehensive plans including risk assessments covering storage and lay-up are crucial for ensuring the safety of vessel during the downtime and its subsequent return to service,” Captain Rahul Khanna, Global Head of Marine Risk Consulting at AGCS.explains
Trump executive order to reduce liability shield for social media giants
The companies’ protections against lawsuits apply when they act “in good faith” in taking down or limiting the visibility of inappropriate tweets, videos and other social media posts, but the law doesn’t define bad faith. The draft order would push the Federal Communications Commission to issue rules clarifying the issue, potentially allowing users to sue over takedowns if they were inconsistent with companies’ terms of service, did not provide enough notice or meet other suggested criteria.
NY Stock Exchange traders, staff sign liability waivers for reopening
The 100 or so traders, regulatory and operational staff who headed into the building were told to avoid public transportation and were screened for signs of the virus at the door, where they had to sign a liability waiver.
FERMA calls for EU resilience framework for catastrophic risks
FERMA President Dirk Wegener said: “We now aim to deepen discussions with the EU, the Member States and the insurance sector, and to develop solutions for both short-term crisis management and long-term business resilience. FERMA members have expertise and experience in the field of business interruption that we want to contribute to the future resilience of European business.”
U.S. sanctions advisory raises hurdles for global maritime industry
U.S. guidelines seeking constant location monitoring of ships, and investigations by insurers of gaps in that tracking, may also prove difficult, industry officials said. The advisory notes that weather often interferes with AIS transponders, and ship captains should have the discretion to go dark to avoid pirates or militants on the high seas.
Airbus opens investigation into plane crash in Pakistan
Initial reports have said the Pakistan International Airlines jet crashed after an apparent engine failure. Pakistani aviation authorities said Tuesday they have shared their initial findings with the visiting 11-member team from the European plane maker.
Pandemic forces virtual safety checks for oil tankers
With an estimated 160 million barrels of surplus oil being kept onboard dozens of tankers because on-land storage is full, the situation is pressing.
If restrictions on access to ships stay in place towards the final quarter of the year, tankers may be unable to store oil or sail until repairs can be carried out. This could drive up freight rates for shipping and storage, as fewer vessels will be seaworthy.
Major Indian states seek delay in restarting flights as coronavirus cases rise
Airlines are preparing to resume about a third of their domestic flight operations from Monday, even without clarity over which states will allow flights or what quarantine rules may apply to passengers.
India’s western state of Maharashtra, Tamil Nadu in the south and West Bengal in the east, major business hubs and home to the country’s busiest airports, have said they are not prepared to open for flights amid rising coronavirus cases, according to state government officials.
Spike in cyber crimes amidst lockdown: Maha home minister
He said that there has been “a big rise” in crimes like spreading provocative content, rumours and objectionable posts against women and creating communal divide using social media platforms like WhatsApp, Facebook, Twitter, Instagram and TikTok.