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INSIGHT-Fire and hail push insurers to rethink climate change risks -

INSIGHT-Fire and hail push insurers to rethink climate change risksBy the time David Kaisel got back from selling his flour at a farmers' market, a wildfire in California's Capay Valley had burnt both his tractor and the shipping container where he kept some tools. Kaisel is the kind of customer making insurers rethink their approach to climate change so they can sell policies without incurring too much risk. "I’m already accustomed to drought, but in the past year I learned first-hand the consequences of both record rainfall and wildfire," Kaisel said.


Thu, 19 Sep 2019 02:10:52 -0400

Tropical storm Jerry likely to become a hurricane later today -NHC -

Tropical storm Jerry likely to become a hurricane later today -NHCTropical storm Jerry is expected to strengthen into a hurricane later on Thursday, the National Hurricane Center (NHC) said in its latest advisory. The system is located about 625 miles (1,005 km) east of the Leeward Islands, with maximum sustained winds of 65 miles per hour (100 km/h), the NHC added. "The center of Jerry will be near or north of the northern Leeward Islands Friday and pass north of Puerto Rico on Saturday," the Miami-based weather forecaster said.


Thu, 19 Sep 2019 02:00:42 -0400

EXCLUSIVE-Deutsche Bank has discussed adding assets to bad bank if sales go well-sources -

EXCLUSIVE-Deutsche Bank has discussed adding assets to bad bank if sales go well-sourcesSome senior Deutsche Bank AG officials have discussed the possibility of putting additional problematic assets worth billions of euros into a unit it created earlier this year, if the bank is able to sell assets already held within that "bad bank," according to three bank sources. The discussions in recent weeks, which have not been previously reported, are preliminary, the sources said, adding that there is nothing imminent. A Deutsche Bank spokesman said the bank has no plans to add additional assets into the so-called capital release unit, or bad bank.


Thu, 19 Sep 2019 02:00:00 -0400

Swiss raid stomach ache drug ingredient makers in competition probe -

Swiss raid stomach ache drug ingredient makers in competition probeSwitzerland's COMCO competition watchdog on Thursday conducted dawn raids of several makers and distributors of a drug ingredient for medicines against stomach pain, citing suspicions of unlawful price and market sharing ingredients. "COMCO suspects that manufacturers and distributors of the active pharmaceutical ingredient Scopolamine Butylbromide have concluded unlawful price and market sharing agreements," the agency said.


Thu, 19 Sep 2019 01:57:50 -0400

UK's Labour starts to reverse Blair's changes to nationalisation policy -

UK's Labour starts to reverse Blair's changes to nationalisation policyBritain's opposition Labour Party has started a process that could reverse former leader Tony Blair's move away from a commitment for common ownership of the means of production, distribution and exchange, The Times reported. Blair ditched Labour's commitment to widespread nationalisation in 1995 by changing Clause 4 of the party's constitution. Labour’s national executive committee (NEC), controlled by supporters of current leader Jeremy Corbyn, agreed on Tuesday to set up a working group to examine changing the document.


Thu, 19 Sep 2019 01:51:33 -0400


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