Global Economy
Russian National Sentenced in ‘Citadel’ Malware Cyber Crime Scheme
A Russian national was sentenced on Tuesday to 4-1/2 years in U.S. prison for using sophisticated malware known as "Citadel" to steal banking information from thousands of computers, authorities ...
Oct. 1 Credit Card Chip Deadline Moves Liability From Issuers to Merchants
The U.S. credit card industry and merchants face a deadline on Thursday to make progress with the transition to cards with chip technology, but less than half of consumers have the new cards in their ...
Lloyd’s Chairman Nelson Faults Businesses for Too Much Focus on Profit
Lloyd's of London Chairman John Nelson criticized the business community, saying companies are too focused on profit and are at risk of eroding the trust of the public and regulators. Nelson, ...
The Hanover Promotes/Adds New Execs to Run International Chaucer Arm
The Hanover Insurance Group promoted or brought in three new executives to help run Chaucer Syndicates Ltd., its international member company that underwrites various business at Lloyd's of London. ...
PartnerRe Shareholder Vote on $6.9B EXOR Acquisition Scheduled for Nov. 19
PartnerRe's shareholders are scheduled to vote on EXOR's planned $6.9 billion acquisition of the Bermuda-based reinsurer on Nov. 19. PartnerRe disclosed the planned shareholder meeting in a proxy ...
CEO of Willis Great Britain Calls for More Industry Diversity
Willis Great Britain CEO Nicolas Aubert issued a call to the insurance/reinsurance industry to embrace diversity. Challenging the status-quo, he said the industry needs to employ a truly meritocratic ...
Warren Buffett Reduces Holdings of Munich Re Shares
Berkshire Hathaway Inc. and National Indemnity Company stated their shareholdings in Munich Re have fallen below the threshold of 10 percent of voting rights — and now are at 9.7 percent. In an ...
Bayer Prevails in FTC Dietary Supplement Contempt Case
Bayer AG prevailed in a lawsuit filed by the U.S. Federal Trade Commission that accused the drugmaker's U.S. unit of making unsubstantiated claims about a dietary supplement marketed to promote ...