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Japan auto safety scandal widens, Toyota halts some shipments
The ministry ordered Toyota, Mazda and Yamaha to suspend shipments...
Volkswagen India to offer 6 airbags across all variants of 5-star GNCAP Taigun, Virtus models
"Our portfolio of India 2.0 cars will offer six airbags as standard...
Chinese artificial intelligence company files $1.4 bn lawsuit against Apple In patent fight
The company is calling for 10 billion yuan ($1.4 billion) in damages and demands that Apple cease “manufacturing, using, promising to sell, selling, and importing” products that infringe on the patent, it said in a social media post.In the lawsuit filed in a local Chinese court, Xiao-i argued that Apple’s voice-recognition technology Siri infringes on a patent that it applied for in 2004 and was granted in 2009.
Siemens Healthineers expands into cancer care with $16.4 billion deal for Varian
Through the deal to buy Varian, Healthineers, a part of Siemens, acquires the leader in radiation therapy with a market share of over 50%.
Healthineers highlighted a long-term rise in the incidence of cancer – from 14 million cases worldwide in 2010 to a forecast 25 million in 2030.
That translates into an addressable market of $20 billion that is forecast to grow at an annual rate of between 6% and 10%, the company said in a presentation on the deal.
Chinese-backed hackers targeted COVID-19 vaccine firm Moderna
Moderna, which is based in Massachusetts and announced its COVID-19 vaccine candidate in January, confirmed to Reuters that the company had been in contact with the FBI and was made aware of the suspected “information reconnaissance activities” by the hacking group mentioned in last week’s indictment.
EU imposes the first ever sanctions against cyber-attacks
As part of the measures, the six individuals and assets of the three institutions will be frozen and the people involved won’t be allowed entry into the bloc, the EU said in a statement on Thursday, adding that EU companies and individuals are forbidden from sending funds to those on the list
Facebook raises settlement to $650 million in facial recognition lawsuit
The social media giant reached a $550 million settlement in January regarding the same lawsuit, which started in 2015, when Illinois users accused the company of violating the state’s Biometric Information Privacy Act in collecting biometric data.
In 2019, a U.S. Circuit Court of Appeals court swatted away Facebook’s claim that facial recognition data did not count as biometric data, stating that “development of face template using facial-recognition technology without consent (as alleged here) invades an individual’s private affairs and concrete interests.”
India found cybersecurity lapses at National Payments Corp in 2019 – government document
The March 2019 government document cited the storing of 16-digit card numbers and other personal information such as customer names, account numbers and national identity numbers in “plain text” in some databases, leaving the data unprotected if the system was breached. The audit has not previously been reported.
Americans driving older cars as average age nears 12 Years
The aging U.S. vehicle fleet has been an issue as U.S. lawmakers have debated economic stimulus plans. Proposals to provide government-funded incentives to retire older, more polluting vehicles,or encourage drivers to get new vehicles with more advanced safety technology have so far not gained much traction.
Munich Re Automation Solutions announces partnership with new Asia-Pacific clients
By utilising Munich Re’s underwriting rules and expertise through ALLFINANZ’s analytics and reporting capabilities, HLA and HLM Takaful will be able to streamline their current underwriting processes and be more cost effective
InsurTech fundraising rebounds as over $1.5 billion invested in Q2 2020; four more ‘mega-rounds’ completed
At 74, deal count was down 23% from Q1, but many individual rounds were larger as investors continued to turn away from Seed and Angel deals in favour of support for more mature ventures. P&C sector investments predominated, accounting for 68% of funding, but the share of L&H sector investments was up 17 points to 32%, as the pandemic crisis continues to compound the value of technology, and particularly telehealth, in the segment. Also notable was the initial public offering of Lemonade and the acquisition of two incumbent insurance companies by InsurTechs, Hippo and Buckle
Prudential partners PAI Health to measure physical activity on digital health app,Pulse
PAI Health services will be available to Pulse users across 11 markets in Asia.
Nic Nicandrou, chief executive of Prudential Corporation Asia, said, “It has never been a more important time than now to help people build health resilience and boost immunity by adopting a more active lifestyle. Through Pulse, we are committed to providing leading technology, content and services to help people live healthier lives. We are excited to add PAI Health’s programme to our platform and provide new actionable heart health insights to users, so we can help them live healthy and well, for longer.”