Global Economy
China Explosion and Chile Quake Cost Validus an Estimated $64M
Validus Holdings Ltd. believes it lost just under $64 million from the Port of Tianjin explosion and recent earthquake in Chile, a number that matches its Q2 net income. The Bermuda-based insurance ...
Cyber Attacks Increase, but Boards and Businesses Are Fighting Back
A majority of businesses admit that they experienced at least one cyber attack in the last year; companies also increasingly see these risks as a major threat to their operations. Faced with these ...
West Virginia Sues Volkswagen Over Clean Diesel Emissions Claims
West Virginia may be the first U.S. state to sue Volkswagen AG for deceiving car buyers after the Environmental Protection Agency said last month that the company had installed software to hide that ...
VW Under Pressure for Answers About Emission Scandal Details
Hans Dieter Poetsch's first board meeting as chairman of Volkswagen on Wednesday could turn out to be his most important, coming just hours before a deadline set by German regulators and testimony by ...
U.K. to Sell at Least $3B in Lloyds Banking Group Shares to Private Investors
Britain's finance ministry said it will sell at least 2 billion pounds ($3 billion) worth of shares in Lloyds Banking Group to private retail investors in spring 2016 to return the bank to full ...
Global Capital Standards Finalized For AIG and 8 Other Insurers
The world's nine biggest insurance companies will have to hold more capital under new rules just finalized by global regulators that aim to prevent taxpayer bailouts of the industry in a crisis. ...
BP’s Record Oil Spill Settlement Rises Another $2 Billion
The value of BP Plc's settlement with the U.S. government and five Gulf states over the Deepwater Horizon oil spill will rise to $20.8 billion, an increase of $2 billion from an agreement reached in ...
Slowly But Surely, Insurers are Turning to Mobile and Big Data
Insurers are increasingly investing in new technology areas such as mobile and big data along with the usual legacy system updates, Novarica found in its latest annual study of U.S. insurer IT ...