Global Economy
Rockefeller Foundation Plans to Wind Down Climate Resilience Push
The Rockefeller Foundation will end funding and dismiss the staff at its 100 Resilient Cities program, the largest privately funded climate-adaptation initiative in the U.S., the foundation announced ...
Proposed U.S. Regulation Would Discourage Large Banks From Investing in Competitors’ Debt
U.S. bank regulators proposed a rule on Tuesday that would discourage large banks from heavily investing in debt issued by other large banks by requiring them to hold additional capital against such ...
More Brexit Chaos as UK Parliament Rejects Four Alternative Plans
Britain was no nearer to resolving the chaos surrounding its departure from the European Union after parliament failed on Monday to find a majority of its own for any alternative to Prime Minister ...
Ex-Wells Fargo Official to Join AIG in Security Leadership Role; Three Nominated to Board
American International Group, Inc. hired a former Wells Fargo & Company executive and government security official in a leadership role, and separately nominated three new board members. Rich ...
Marsh & McLennan Closes $5.6B JLT Acquisition
Marsh & McLennan Cos. (MMC) completed its $5.6 billion acquisition of Jardine Lloyd Thompson Group plc (JLT). "Today marks the beginning of a new era with Marsh & McLennan and JLT coming ...
Ethiopian Airlines Crash Could Become Largest Non-War Aviation Reinsurance Claim on Record: Willis Re
Liability claims related to the Ethiopian Airlines crash and the grounding of Boeing 737 MAX 8 aircraft could be the largest non-war aviation reinsurance claim on record, hitting reinsurers' ...
Two Arch Capital Subsidiaries Finalize Post-Brexit Plans
Some subsidiaries of Arch Capital Group have finalized some changes to the European operations as part of the company's broader Brexit plans. Arch Insurance EU (formerly Arch Mortgage Insurance), won ...
Germany’s Merkel Dives Into Brexit Process to Help Shield EU From UK Turmoil
Angela Merkel will this week stage her most significant intervention in the Brexit process in more than two years, as the European Union moves to shield itself from the fallout of political chaos in ...