MOSCOW – Russian mining giant Norilsk Nickel was fined $2 billion on Friday for the damage caused by a huge fuel spill last year in the country’s worst environmental disaster in the Arctic. The leakage in May of 21,000 tonnes …
LONDON – Around 40% of British companies that import and export said the shift to a new trading arrangement with the European Union had made trade more cumbersome last month, a survey showed on Thursday. The report from HSBC UK …
The website of the New Zealand Stock Exchange slowed to a crawl on a Tuesday afternoon in August. It was so badly throttled that the exchange couldn’t post market announcements, as required by financial regulators. So with an hour left …
Vale SA reached a settlement agreement with Brazilian authorities for a dam collapse that killed 270 people and led to production cutbacks that stripped the company of the title of world’s biggest iron ore producer. The deal comes two years …
Croatian insurers are reaping a windfall as residents rush to sign up for protection after two destructive earthquakes last year left them to rebuild without private coverage, the head of the country’s industry association said. After escaping billions of kuna …
Ant Group Co. and Chinese regulators have agreed on a restructuring plan that will turn Jack Ma’s fintech giant into a financial holding company, making it subject to capital requirements similar to those for banks. The plan calls for putting …
Catalina Holdings (Bermuda) Ltd., the legacy re/insurance acquisition specialist, announced that Chris Fagan, co-founder, is stepping down as chief executive. He will be succeeded as chief executive by Bruce Hemphill, current chair of the Catalina board, who has been working …
Climate change is causing oceans to rise quicker than scientists’ most pessimistic forecasts, resulting in earlier flood risks to coastal economies already struggling to adapt. The revised estimates published Tuesday in Ocean Science impact the two-fifths of the Earth’s population …
While most of the COVID-related problems that plagued UK commercial property insurers will abate after the March anniversary of lockdowns, battles with reinsurers and damaged reputations are lingering impacts, AM Best said. In a commentary report, “UK Commercial Property Insurers—Looking …
As far as climate groups like the Sunrise Project are concerned, getting insurers out of the coal underwriting business is the most important thing they can do. No more insurance, no more coal. It’s something Sunrise has been pushing for …