The Department of Telecommunications (DoT) utilised the ‘Chakshu’...
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US Surgeon General calls for social media warning labels to protect adolescents
Vivek Murthy, Surgeon General,US US Surgeon General Murthy wrote in...
CBIC urges public to discern modus operandi of fraudsters
The Ministry of Finance has referred to various news portals and...
GST slashed for EVs to 5% from 12%, will be effective from 1st August
India has put in place a game plan for electric vehicles (EV) and its components like batteries to ensure clean cities, reduce imports and utilise solar power, NITI Aayog CEO Amitabh Kant said on Saturday
SoftBank’s Masayoshi Son forms $108-billion Vision Fund 2 with Apple, Microsoft
Son wants to raise a new massive fund every two or three years to take advantage of opportunities he sees in cutting-edge technologies such as artificial intelligence and autonomous driving.
Australia to police Facebook, Google with new watchdog office to protect privacy
Australian Treasurer Josh Frydenberg said the $5 billion fine slapped on Facebook in the United States this month for privacy breaches showed regulators were now taking such issues extremely seriously.
“These companies are among the most powerful and valuable in the world,” Frydenberg told reporters in Sydney after the release of a much-anticipated report on future regulation of the dominant digital platforms.
SAP and Swiss Re expands its joint co-innovation initiative for financial reporting
Our close partnership with Swiss Re has helped us create an exceptional customer experience across the insurance and financial sectors,” said Luka Mucic, SAP CFO and member of the Executive Board of SAP SE.
US home insurance leader Hippo Insurance raises $100 million
Hippo is building faster, more accurate and more affordable homeowners insurance for today’s customers. The company’s data-driven pricing and real-time underwriting analyzes trusted public data sets, from municipal building records to satellite imagery of physical property characteristics, to develop a more accurate profile of a customer’s property, resulting in qualified customers receiving a comprehensive, tailored and accurate quote in under 60 seconds, and reduced premium costs of up to 25 percent
InsurTech investment buoyant in Q2, 2019:Willis Towers Watson
69 deals with a total value of $1.41 billion were announced in Q2, 2019. The value of investments in property/casualty-focussed firms rose by 283% compared to Q2, 2018, and Life & Health deals by 259%. The number of strategic investments by (re)insurers hit a record high of 36.
U.S. slaps $5 billion fine against Facebook, other privacy settlement terms
“Despite repeated promises to its billions of users worldwide that they could control how personal information is shared Facebook undermined consumers’ choices,” said FTC Chairman Joe Simons, a Republican, in a statement.
Group of German companies – including BASF, Siemens, Roche – hit by cyber attacks
Public broadcaster ARD said the hackers used a type of malware called Winnti, which allows attackers to remotely access a victim’s computer network. ARD said an analysis of the malware code showed which companies were targeted by a group likely working for the Chinese government.
Cost of Norsk Hydro Cyber attack higher than expected at nearly $75 million
The attack is now estimated to have cost 250-300 million crowns [$28.9 million-$34.6 million] in the second quarter, compared with an earlier estimate of 200-250 million crowns [$23.1 million-$28.9 million]. Including the first quarter impact, the total cost of the attack is set to be 550-650 million crowns [$63.5 million-$75.0 million].
Equifax’s $700 million data breach settlement includes $300 million for consumers
Under the settlement, the company will establish a $300 million restitution fund for harmed consumers that could climb to $425 million depending on its use. Consumers eligible for the fund must submit claims showing they were fraud victims or set up credit-monitoring services following the breach