LONDON – Mastercard, a global payment processor, is battling attempts to add about 14 million deceased people to a 14 billion pound-plus ($19.3 billion) British class action in an effort to limit the scope of the historic case. A Mastercard …
The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at least $24 million in expenses they will be unable to recoup as their insurance policies do not cover them, industry …
LONDON – Britain should not be “short-sighted” and copy European Union rules just to keep financial activity in London, Bank of England executive director for financial stability Alex Brazier said on Monday. The City of London was cut adrift from …
TOKYO – Japanese chipmaker Renesas Electronics said on Tuesday it would take at least 100 days to get back to normal production at its fire-hit plant, even as the government urged some Taiwanese companies to help with alternative chip production. …
Natural and man-made catastrophes cost the insurance industry US$89 billion in 2020, in the fifth costliest year since 1970, according to a report from Swiss Re’s sigma. Of that total, US$81 billion related to claims from natural catastrophes, with the …
The Suez Canal may be open again, but the battle over damages from the waterway’s longest closure in almost half a century is just beginning. With cargoes delayed for weeks if not months, the blockage could unleash a flood of …
Australia is losing momentum in efforts to bring equality to the workforce, with a new study finding that it will probably take another 26 years until women are paid the same as men. The gender pay gap is worst in …
Allianz SE, Europe’s largest insurer, has emerged as the frontrunner to buy the Polish operations of Aviva Plc in one of the most competitive insurance auctions in the region this year, people with knowledge of the matter said. The British …
CVC Capital Partners is nearing a deal to acquire National Bank of Greece SA’s insurance business after a years-long search for a buyer, people familiar with the matter said. The private equity firm could announce an agreement as soon as …
LONDON – There is a growing realization that Britain should not wait for unlikely European Union access for financial services but get on with building a more competitive City of London, a senior lawmaker said on Thursday. Britain left the …