International News

Global coronavirus cases surpass 6 million

Global coronavirus cases surpassed 6 million on Saturday, according to a Reuters tally, as Latin America reported a grim milestone of 50,000 deaths from the disease.   Countries such as Brazil, Chile and Mexico are struggling to stem the spread of the virus, which initially peaked...

Lloyd's of London considers part-virtual underwriting room

LONDON: The Lloyd’s of London insurance market said on Friday it is considering combining its physical underwriting floor in the City of London with some online elements.Lloyd’s shut its “underwriting room” in its London tower on March 19 in response to the coronavirus pandemic and...

Fed's Powell fears second coronavirus wave, reiterates crisis-fighting pledge

WASHINGTON: Federal Reserve Chair Jerome Powell on Friday said a potential surge in U.S. coronavirus infections could derail the recovery from the deep downturn triggered by the pandemic, even as he reiterated the central bank’s vow to keep fighting the crisis.   The Fed has gone...

Pakistan Jet crashed shortly after bizarre landing attempt at 327 KPH

Non-Life, Reinsurance, Risk Management       May 29, 2020

  Karachi: A deadly plane crash in Pakistan is prompting questions about how the crew could touch down without landing gear when their sophisticated jetliner was bristling with equipment to prevent pilots from doing just that.   After an abrupt descent that had unnerved air-traffic controllers, the...

AXA agrees to pay Covid-19 Business Interruption claims to French restaurants after court ruling

  Paris:  AXA will meet the bulk of business interruption claims from some restaurant owners in France, it said on Tuesday, after losing a court case seen as a potential precedent for coronavirus-related disputes across the world.   A Paris court ruled last week that AXA should...

US terminating relationship with WHO; takes steps against China

  Washington: US President Donald Trump on Friday said that America was terminating its relationship with the World Health Organization (WHO) as he blamed it and China for the deaths and destruction caused by the COVID-19 pandemic across the globe.   Trump last month halted funding for...

Trump signs executive order aimed at regulating social media companies

Washington: US President Donald Trump on Thursday signed an executive order aimed at increasing the ability of the government to regulate social media platforms. Speaking from the Oval Office ahead of signing the order, Trump said that the move was to "defend free speech from...

NY Stock Exchange traders, staff sign liability waivers for reopening

  New Yok: New York Governor Andrew Cuomo donned a face mask and rang the opening bell at the New York Stock Exchange on Tuesday, marking the partial reopening of the trading floor at 11 Wall Street, which had been shuttered since March 23 due to...

Trump executive order to reduce liability shield for social media giants

Donald Trump has been raging against Twitter Inc. since the social media platform that helped vault him to the presidency slapped fact-check links on a pair of his tweets.   Now, he’s poised to take action Thursday that could bring a flurry of lawsuits down on...

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