International News

Japan will take steps to guard against Olympics cyberattacks

Eco/Invest/Demography, Non-Life, Risk Management       Oct 21, 2020

  Tokyo: Japan said on Tuesday it would take countermeasures to ensure next year’s Tokyo Olympics are not derailed by cyber attacks after Britain and the United States accused Russia of orchestrating efforts to disrupt the Games. Olympics organizers reported no significant impact on their operations...

Insurance startup Root eyes $6.3 bln valuation in market debut

Eco/Invest/Demography, Non-Life       Oct 20, 2020

  Automobile insurance startup Root Inc said on Tuesday it plans to raise as much as $604.1 million in its initial public offering on the Nasdaq, the latest in a line of insurers looking to tap the current boom in U.S. capital markets The firm, which...

Stock market boom, new listings mint China billionaires at record pace

Eco/Invest/Demography, Wealth Management       Oct 20, 2020

  SHANGHAI: China is minting new billionaires at a record pace despite an economy bruised by the coronavirus pandemic, thanks to booming share prices and a spate of new stock listings, according to a list released on Tuesday. The Hurun China Rich List 2020 also highlights...

Wizz Air CEO expects smaller airline industry after pandemic

Eco/Invest/Demography, Health, Non-Life, Pandemic       Oct 20, 2020

LONDON: The world will have a smaller airline industry as a result of the coronavirus crisis with many privately funded carriers set to go under and governments throwing "good money after bad" to keep national champions afloat, Wizz Air's CEO WIZZ.L said. Worst hit will...

U.S. says Google breakup may be needed to end violations of antitrust law

WASHINGTON: The U.S. sued Google on Tuesday, accusing the $1 trillion company of illegally using its market muscle to hobble rivals in the biggest challenge to the power and influence of Big Tech in decades.The Justice Department lawsuit could lead to the break-up of an...

Berkshire Hathaway to pay $4.14 million to settle Iran sanctions violations claims

Eco/Invest/Demography, Non-Life, Reinsurance       Oct 20, 2020

  WASHINGTON: Warren Buffett’s Berkshire Hathaway Inc agreed to pay $4.14 million to settle civil allegations that a Turkish subsidiary committed “egregious” violations of U.S. sanctions against Iran, the U.S. Treasury Department said on Tuesday. The department’s Office of Foreign Assets Control said Iscar Turkey sold...

Microsoft, Elon Musk's SpaceX tie up to woo space customers

Eco/Invest/Demography, Technology       Oct 20, 2020

Microsoft Corp is partnering with billionaire entrepreneur Elon Musk-led SpaceX and others as it targets space customers, the software giant said on Tuesday. The partnership with SpaceX Starlink will provide high-speed satellite broadband for Microsoft's cloud computing data centers, the company said here in a...

London must ‘seize the moment’ to maintain global leadership amid COVID-19 pandemic:Report

  London: London must reinvent itself in order to emerge stronger following the COVID-19 pandemic and maintain its position as a world-leading business hub, according to a new report published today by the City of London Corporation. ``London Recharged: Our vision for London in 2025'', produced...

British Airways hit with UK data watchdog's biggest-ever fine

  London: Britain’s data protection watchdog said it has fined British Airways 20 million pounds - its biggest such penalty to date - for failing to protect data that left more than 400,000 of its customers’ details the subject of a 2018 cyber attack.The Information Commissioner’s...