Global Economy
China Increases Likelihood It Will Retain Control of Financial Institutions
China's finance ministry said on Wednesday it will make it harder for ownership changes to be made to financial institutions that could lead to the government relinquishing control, in a bid to ...
Record Venice Floods Top November Catastrophe Losses
Flooding and inland storms led to multi-billion-dollar economic loss in western and southern Europe during November, according to insurance broker Aon's latest edition of its monthly Global ...
Airlines Prepare for Heightened, Climate Change-Related Weather Risks
Extreme weather is no longer exceptional, and that's forcing changes at some of the world's most diligent storm trackers: airlines. Weather delays in the U.S. have been trending higher the past four ...
Digital Platform Operator Wefox Raised $235M This Year for Global Expansion
German insurance technology firm Wefox said on Wednesday it had attracted an additional $110 million of investment in its second funding round, bringing the total amount of money raised this year to ...
Brit Debuts First ILS Fund in Lloyd’s of London Market
Specialty insurer Brit Ltd. has launched Sussex Specialty Insurance Fund to offer insurance linked securities (ILS) investors access to Lloyd's risk. It is the first ILS fund in the Lloyd's of London ...
Severe Sydney Air Pollution Setting Off Fire Alarms
Bushfire smoke smothered Sydney on Tuesday, setting off fire alarms, suspending ferry services and triggering health warnings over choking air pollution. The Sydney Opera House and harbor bridge were ...
Insurers,Technology Top List for Germany’s Best-Performing Funds in 2020
Even in Europe's industrial heartland, the best investors are shunning manufacturing stocks and putting their money in local tech companies. DWS Concept Platow, this year's top-performing German ...
U.S. Charges Russian ‘Evil Corp’ With Fueling a Decade of Bank Hacks
The U.S. unveiled charges and sanctions against members of a hacking entity calling itself Evil Corp that authorities said was behind some of the worst computer hacking and bank fraud schemes of the ...