International News

Once pariahs, tobacco giants like Philip Morris quietly return to Formula-1

Health, Risk Management       Feb 17, 2019

  Paris: Tobacco giants Philip Morris and British American Tobacco have formed partnerships with their scientific research subsidiaries and Formula 1 teams Ferrari and McLaren more than a decade after cigarette advertising was banned from the sport.     US giant Philip Morris International (PMI), whose Marlboro brand...

California considers insurance to help with wildfire costs

Disaster & Management, Eco/Invest/Demography       Feb 15, 2019

   SACRAMENTO:  With cost of fighting wildfires is now at a record high. On Thursday, California politicians proposed a plan to tackle ballooning fire costs: taking out insurance.    The proposed legislation by State Senator Bill Dodd works just like a home insurance plan - California pays...

AI to tackle UK insurance fraud and assess flood damage

  London: A project to develop breakthrough artificial intelligence(AI) technology for the anti-fraud sector, is one of a number of new projects, set to receive funding,that would enable the UK accountancy, insurance and legal services industries to transform how they operate.   The artificial intelligence software, being...

Study questions safety claims about Tesla autopilot’s steering feature

Eco/Invest/Demography, Non-Life, Risk Management       Feb 14, 2019

  An analysis of government data disputes a finding by safety regulators and promoted by Tesla Inc. that crash rates of its older vehicles declined after they were equipped with an automatic steering capability.   The study, released Friday by Quality Control Systems Corp., a data analysis...

Ex Coca-Cola engineer stole secrets worth $120 million for Chinese firm: US

Risk Management       Feb 15, 2019

  Wasington: A former senior engineer at Coca-Cola was indicted Thursday in Tennessee for stealing trade secrets worth an estimated $120 million to give to a Chinese company, the Justice Department announced.   US national You Xiaorong allegedly stole technology for valuable BPA-free packaging jointly owned by...

AIG swings to loss, hit by catastrophes and volatile market

Non-Life       Feb 13, 2019

  American International Group Inc on Wednesday reported a quarterly loss as the insurer was hit with catastrophe losses and made a lower return on investments in a volatile market.   Excluding realised investment gains and losses and some other items, AIG posted a loss of $559...

Johnson & Johnson supplier seeks bankruptcy over talc lawsuits

Health, Risk Management       Feb 13, 2019

  A key supplier of talc used in Johnson & Johnson’s baby powder filed for Chapter 11 bankruptcy on Wednesday in the wake of multibillion-dollar lawsuits alleging its products caused ovarian cancer and asbestos-related mesothelioma. Imerys Talc America, the U.S. unit of French group Imerys SA,...

Airbus to scrap production of A380 superjumbo

Eco/Invest/Demography, Non-Life       Feb 14, 2019

  TOULOUSE, France:  Europe’s Airbus announced plans to scrap production of the A380 superjumbo on Thursday, abandoning its dream of dominating the skies with a cruiseliner for the 21st century after years of lacklustre sales.   The world’s largest airliner, with two decks of spacious cabins and...

Google, Amazon expanding smart home device data gathering

Technology       Feb 12, 2019

  As Amazon.com Inc. and Google work to place their smart speakers at the center of the internet-connected home, both technology giants are expanding the amount of data they gather about customers who use their voice software to control other gadgets.   For several years, Amazon and...

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