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Brazil Confirms Potential $18B Deal With Miners Involved in Deadly Dam Disaster
The Brazilian government confirmed on Monday it was in talks on a potential $18 billion payout from a trio of miners involved in a deadly 2015 dam collapse, saying the deal could also involve further repair work by the companies …
POSTED SEPTEMBER 17, 2024 11:00 AM |
PwC Probe Spotlight Shifts to Hong Kong After Record China Fine
The focus of a lengthy probe into PricewaterhouseCoopers LLP’s China business now shifts to Hong Kong after the accounting firm was hit with a record fine in the mainland over its audit of failed developer China Evergrande Group. Hong Kong’s …
POSTED SEPTEMBER 17, 2024 10:36 AM |
Private Equity’s Insurance Bets Raise Risks, BIS Researchers Say
Private equity firms have changed the business models of life insurers they invest in, posing risks that are more likely to materialize with higher interest rates, according to researchers at the Bank for International Settlements. Buyout firms channel the insurance …
POSTED SEPTEMBER 17, 2024 7:17 AM |
Taiwan Regulator Rejects CTBC Takeover Attempt of Shin Kong
Taiwan’s financial regulator rejected on Monday a takeover attempt by financial conglomerate CTBC of rival Shin Kong saying its plans were incomplete. CTBC made an unexpected bid for Shin Kong last month, upending a proposal for Shin Kong to merge …
POSTED SEPTEMBER 17, 2024 7:09 AM |
Personal Lines Turnaround Fuels US P/C Industry Underwriting Gain
A turnaround in the personal lines insurance segment results was a key driver of an overall $3.8 billion profit from underwriting for the U.S. property/casualty insurance industry, according to a new report from AM Best. Best’s Special Report, titled, “First …
POSTED SEPTEMBER 17, 2024 5:16 AM |
Flooding in Central Europe Could Cause Billions in Economic Losses, Analysts Say
The latest flooding in central Europe could cause economic losses ranging from several hundred million euros to billions, early estimates published on Monday found, as the region braced for more damage. Credit rating agency Morningstar DBRS estimates losses will range …
POSTED SEPTEMBER 17, 2024 5:15 AM |
Big Oil Companies Defeat Consumer Lawsuit Over Production, Prices
Several oil companies including Exxon Mobil and Chevron defeated an appeal on Monday by consumers who accused them of colluding with former U.S. President Donald Trump, Russia and Saudi Arabia to cut oil production, boosting prices at the pump. In …
POSTED SEPTEMBER 17, 2024 5:10 AM |
DraftKings Sued by MLB Players Union for Using Names, Images
Sports-betting platform DraftKings Inc. has been using names and images of Major League Baseball players without permission and in violation of Pennsylvania law, their union alleged in a lawsuit. Boston-based DraftKings and another popular betting site – Bet365 – are …
POSTED SEPTEMBER 17, 2024 5:05 AM |
J&J Gets $260 Million Talc Verdict Overturned, New Trial Ordered
An Oregon judge has overturned a $260 million verdict against Johnson & Johnson in a lawsuit brought by a woman who said she got mesothelioma, a deadly cancer linked to asbestos exposure, from inhaling the company’s talc powder, the company …
POSTED SEPTEMBER 17, 2024 5:01 AM |
Two Former New York Fire Chiefs Face Bribery Charges Tied to Safety Inspections
Two former chiefs of the New York City Fire Department (FDNY) have been charged with bribery and corruption for allegedly expediting access to fire safety inspections for preferred customers in exchange for payments. Anthony Saccavino and Brian Cordasco were indicted …
POSTED SEPTEMBER 17, 2024 5:00 AM |
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