The tribunal was hearing a matter where it had taken suo motu (on...
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Brazilian judge suspends Musk’s X platform for refusing to name a legal representative
Elon Musk X has clashed with de Moraes over its reluctance to...
Govt taking various measures at policy level to help fintech sector: PM Modi
Prime Minister Narendra Modi Addressing the Global Fintech Fest...
Bank of England fires warning shot to insurers over capital, Libor
The BoE and the Financial Conduct Authority have written to the chief executives of insurers and banks, asking them to spell out their preparations for effectively ditching the use of Libor by the end of 2021.The BoE wants insurers to reference its overnight rate SONIA in contracts and balance sheet assessments after banks were fined billions of pounds for trying to rig Libor.
WhatsApp vulnerability allowed secretive installation of spyware
Attackers could transmit the malicious code to a target’s device by calling the user and infecting the call whether or not the recipient answered the call. Logs of the incoming calls were often erased, according to the report.
Indian pharma majors deny allegations of price fixing in US
The homegrown drugmakers are among the 21 generic pharmaceutical firms and 15 other individual defendants against whom the Attorneys General of 49 US states, the Commonwealth of Puerto Rico and the District of Columbia had filed a complaint with respect to 116 generic drugs in the US District Court for the District of Connecticut.
Paytm Mall probe reveals Rs 10-crore cashback fraud: Vijay Shekhar Sharma
Sharma said actions against the wrongdoers are being taken. These include de-listing “hundreds” of sellers to ensure there are only brand sellers on the platform and not the “mom-and-pop shops”, he said adding that “tens” of employees have also been sacked.
Saudi Arabia says two Saudi oil tankers attacked near UAE waters
Iran’s foreign ministry called the incidents “worrisome and dreadful” and asked for an investigation into the matter.The strait, a vital global oil and gas shipping route, separates the Gulf states and Iran, which has been embroiled in an escalating war of words with the United States over sanctions and the U.S. military’s presence in the region
Lloyd’s of London seeks behavior crackdown with culture Survey
The move is the latest part of the 331-year-old insurance exchange’s response to the scandal, after Bloomberg’s report found an atmosphere of near-persistent harassment ranging from inappropriate comments to unwanted touching to sexual assault. Lloyd’s has already said it will set up an independent whistleblower hotline and give potential lifetime bans for inappropriate behavior.
Cyber Risks to exceed Natural Disasters for insurers: Scor CEO
While the cost of cyber risks has been small until now, the panel agreed it was only bound to increase. Kessler said the cyber risk could exceed $600 billion per year “in the worst case scenario.” That compares with the yearly cost of natural catastrophes, which he said is about $230 billion. The cyber risk “would dwarf it. So it gives you a size of the risk,” Scor Chairman and Chief Executive Officer Denis Kessler said.
How Homes are being built, raised to withstand Extreme Weather
“The frequency and severity of the storms are increasing,” said Belcher, who builds houses designed to withstand 140 mile-an-hour winds. “Whether people credit it to climate change or think it’s cyclical, it doesn’t matter if your house is destroyed. Either way, resiliency applies.”
Crash Victims’ final minutes will influence Financial Liability for Boeing, Insurers
While settling all those claims could cost $1 billion, according to a Bloomberg Intelligence estimate based on prior cases, legal experts agree the payouts could be even higher if evidence shows Boeing knew about flaws in the planes before the tragedies. That’s already prompted investor lawsuits claiming the company hid safety risks.
NBFC sector faces imminent crisis, says Corporate Affairs Secretary
“There is an imminent crisis in the NBFC sector. There is a credit squeeze, over-leveraging, excessive concentration, massive mismatch between assets and liabilities, coupled with some misadventures by some very large entities, which is a perfect recipe for disaster,” Srinivas said.However, he added that “responsible” companies are managing the risk well and are not facing such a dire situation.