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UK’s Bloomsbury among beneficiaries of $1.5 billion Anthropic copyright lawsuit settlement
The settlement is the largest known copyright payout in U.S. history. The dispute reflects the intensifying legal battle over how generative AI models are trained. AI developers, including Anthropic, have argued that using publicly available copyrighted material...
HDFC Life crosses Rs 4 trillion of AUM
Mumbai:HDFC Life, the third largest life insurance company in the country, has crossed Rs four trillion of assets under management (AUM).The company’s current debt-equity ratio is 72:28. A high proportion of its debt investments are in Government bonds and AAA-rated...
Aon reports $111 billion global catastrophe losses in H1, Insured events above average
Among the period's defining events were the Venezuela earthquake (preliminary $20-30 billion economic loss), Portugal's costliest windstorm on record ($4.4 billion economic loss) and an active SCS season across the U.S. ($34 billion economic loss). Together, these...
Govt advances small reactor plans, targets five nuclear units by 2033
India, which is keen to expand its use of clean energy, last year opened its nuclear generation sector to domestic and foreign firms in the private sector. It aims to expand nuclear capacity to 100 GW by 2047 from about 8.8 GW at present. NEW DELHI: India said on...
OpenAI Models hacked another company’s systems by mistake
“We consider this to be an unprecedented cyber incident, involving state-of-the-art cyber capabilities, and are responding accordingly,” OpenAI said in the blog post. “We are sharing preliminary findings at this stage to help defenders understand what happened and to...
Lloyd’s finds former CEO John Neal breached compliance rules over undisclosed relationship
John Neal, former CEO Lloyd's of London An investigation found that Neal failed to disclose the relationship with the group’s former corporate affairs director Rebekah Clement even after concerns were raised by colleagues, according to a statement Wednesday....
PFRDA opens on-tap licensing for pension fund managers in India
"Earlier, registration of Pension Funds was undertaken through applications invited during specified registration windows. Pursuant to the decision of the Authority, the registration process is now being opened on a continuous 'on-tap' basis and shall remain open...
Insurance woes amid US-Iran war stall airlines’ return to Dubai
International carriers’ operations to Dubai are growing but some key European airlines still aren’t making the trip because of government travel advisories for the region, according to Dubai Airports Chief Executive Officer Paul Griffiths. “They are having difficulty...
Global insurance premiums hit $7.1 trillion in 2025, but structural challenges persist: Bain
Lowering the cost of risk will be critical for insurers seeking to increase relevance and expand the market, Bain advises. Its report identifies four levers for doing so: claims, distribution, operating expenses, and capital. Global insurers delivered strong premium...
10 killed in Sikkim tunnel collapse: CM
Sikkim Chief Minister Prem Singh Tamang said the tunnel of NHPC Teesta Stage VI Hydroelectric Project at Samardung in Jholungey caved in due to a landslide.A total of 25 people, including project officials and workers, were trapped inside the ADIT-3 tunnel when it...
Floods, landslides across northern India kill at least 25
GUWAHATI/SRINAGAR: At least 25 people died in floods and landslides caused by torrential rain across northern and northeastern India over the weekend, officials said on Monday, with more rain predicted over the next few days. At least 23 people have died and seven...
Supreme Court asks IRDAI to standardise cross-border Motor Insurance clauses
The bench said insurers have, in many cases, exploited this ambiguity either to escape liability which they should rightfully bear, or conversely, found themselves burdened with the liability they never intended to assume simply because their policy language was...
Out of total CSR only 8.4% spent on environment in FY-2023-24: Report
“Sectors with high pollution intensity, including oil, gas, coal and petroleum, mining, and energy, allocate only 5-7 per cent of their CSR budgets to environmental initiatives… By contrast, consumer-facing sectors such as FMCG and automotive allocate over 10-15 per...
Houthis escalate pressure, Announce planned maritime blockade of Saudi Arabia
A disruption to supplies through the Red Sea, the route currently used by Saudi Arabia for bulk of its crude exports, would exacerbate the war’s impact on global oil trade. The Houthis, an Iran-backed Yemeni group, said they would impose a maritime blockade on Saudi...
Red Sea war insurance costs rise after Houthi blockade, sources say
Indicative war risk premiums rose to around 0.75% of the value of a ship, from around 0.3% on Friday before the Houthi announcement, according to the sources, who declined to be identified due to the sensitivity of the matter. LONDON: The insurance cost of...
Iran and US widen attacks, raising fears for Gulf shipping and water supplies
Oil prices briefly jumped above $90 a barrel after renewed disruption to shipping through the Strait of Hormuz, but later pared gains after Iran’s Foreign Ministry said mediators had recently presented proposals to Tehran, signaling that diplomatic contacts remain...
No decision taken yet to raise ethanol blending beyond current 20%: MoS
More than 20 crore two-wheelers and over 3 crore petrol cars, including a large number of older vehicles manufactured before E20 certification, have been operating on these fuels without any verified evidence of widespread engine failure or vehicle breakdown...
Wild swings in monsoon rainfall raise risks for Indian crops and power demand
This year’s monsoon opened with India’s fifth-driest June on record and rainfall almost 40% below normal levels, followed by a sudden deluge early this month — when about a month’s worth of precipitation was dumped on cities like Mumbai in a single week. An...