Elsa had arrived earlier in the day in eastern Cuba, whipping palms with strong winds and bringing a steady downpour along with parts of the southern coast. Miami-based NHC said data from an aircraft indicated maximum sustained winds were near 65 miles per hour (100 km per hour) with higher gusts. It had downgraded Elsa from a hurricane on Saturday.

Suez Canal says deal reached to free seized vessel

Jul 4, 2021

At first, the Suez Canal Authority demanded $916 million in compensation, which was later lowered to $550 million.
The authority did not reveal details on the settlement deal with the Shoei Kisen Kaisha Ltd., the Japanese owner of the Ever Given. It said the deal will be singed in a ceremony in the Suez Canal city of Ismailia on Wednesday.
The canal authority will receive a tug boat with a pulling capacity of about 75 tonnes as part of a settlement to release the container ship Ever Given, which blocked traffic at the waterway for six days in March, Rabie told a private TV channel.

Getting athletes to Olympics amid global pandemic a logistics nightmare

Jul 4, 2021

Although most athletes have been fully vaccinated and Games organizers require negative Covid tests prior to arrival, there have already been some upsets. Two members of Uganda’s Olympic squad tested positive in Japan last month, despite having been inoculated earlier, and over the weekend, a rower from Serbia tested positive.

Insurance companies remain prime targets for Private Equity:AM Best

Jul 3, 2021

private equity firms also have infused considerable amounts of capital to spur rapid growth—a strategy that insurers do not typically execute well. In the first year of private equity ownership, 38% of companies reported increases of over 20% in capital and surplus, rising to 43% in year No. 2 and 50% in year No. 3.

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