Global Economy
Fearing Evergrande Effects, China’s Lenders, Insurers Halt New Credit
As fears of contagion from any default by China Evergrande Group mounted this month, some Chinese banks, insurers, and shadow banks stopped offering new credit to property developers, and ran urgent ...
Biden Administration Fights Ransomware Attacks by Targeting Cryptocurrency Pipelines
The Biden administration plans a fresh campaign against ransomware attacks through sanctions to cut off criminals' cryptocurrency pipelines, and it urged companies to report extortion attempts and ...
EU Eases Insurance Rules With $141 Billion Economic Boost
The European Union proposed changing the bloc's capital rules for insurers on Wednesday to release 120 billion euros ($141 billion) for repairing an economy hit by COVID and to meet climate goals ...
RIMS Wants Attendees at Future Events to Provide COVID-19 Vaccination Proof
The insurance industry trade group RIMS now requires anyone attending its events in the coming months to provide they're fully-vaccinated for COV-19. RIMS said the requirement is effective ...
Investors Team Up in Call for Governments to Toughen Climate Accounting
Investors managing more than $2.5 trillion have called on governments to compel companies and auditors to file financial accounts aligned with the world's net zero emissions target, a letter seen by ...
Moody’s Closes $2B Acquisition of Cat Modeler RMS
Moody's Corp. reported that it has completed its acquisition of RMS, the climate and natural disaster risk modeling and analytics firm. In the transaction, originally announced on August 5, 2021. ...
The Plot Thickens in the Battle over Generali’s CEO
Two Italian tycoons who are leading investors in Generali are looking for allies after joining forces in a bid to have a say over the choice of the insurer's next chief executive, a document showed ...
Climate Change Could Force 200 Million People to Abandon Their Homes by 2050
Climate change could push more than 200 million people to leave their homes in the next three decades and create migration hotspots unless urgent action is taken to reduce global emissions and bridge ...