AFP
13876 articles published since 08 Mar 2022
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As climate catastrophes rise, reinsurers reduce risks
Natural disasters are now happening so frequently that reinsurers -- the firms that sell insurance to insurance companies -- are scaling back their exposure to such risks. Given the current circumstances, insurers may have little choice than increase their rates or in turn reduce the risks that they cover, which is already happening in certain countries.
UBS's Credit Suisse takeover, 'deal of the century'?
Did banking giant UBS make "the deal of the century" when it bought one of the world's biggest banks for a pittance as it teetered on the edge of the abyss? - 'Godsend' - "UBS has pulled off the deal of the century," Switzerland's Socialist Party said, maintaining the "rescue" was more of a "godsend", allowing it to snatch up a bank at a dramatically reduced rate.
Economy and management blamed for demise of UK retailer Wilko
The imminent demise of household goods seller Wilko highlights the challenges UK retailers currently face amid decades-high inflation and anaemic economic growth, but experts argue it also stems from bad management. Lisa Wilkinson, one of the founders' heirs and one of the group's former managers, has argued that not taking dividends would only have given the company a few months' reprieve.
Ford CEO: 'Still optimistic' but ready in case of auto strike
Ford's CEO said Tuesday night that he was still optimistic of averting a looming strike, but that "there is a limit" to what the company can accept. New UAW President Shawn Fain has said the union could call strikes at all three companies if they fail to reach a tentative labor agreement by the Thursday night deadline.
Asian markets swing as crude spike stokes inflation concerns
Equities fluctuated Wednesday ahead of a crunch US inflation report, with investors increasingly nervous that a recent spike in oil will put fresh upward pressure on consumer prices and force the Federal Reserve to lift interest rates again.
Qantas loses court fight over Covid lockdown layoffs
Qantas illegally sacked 1,700 ground staff during Covid-19 lockdowns, Australia's High Court ruled Wednesday, dismissing an appeal by the airline and opening up the prospect of hefty compensation. The High Court said it agreed with that ruling, unanimously dismissing Qantas's appeal.
High costs push home ownership out of reach of younger Americans
When Jennie Luhmann started searching for her family's "forever home," she found herself in a perfect storm -- few properties were available, buyers were making all-cash offers and interest rates were climbing. We have a two-year-old, we were really hoping to start our lives together as a family," Luhmann said.
BP chief Bernard Looney resigns 'with immediate effect'
British energy giant BP said Tuesday that its chief executive Bernard Looney has resigned "with immediate effect", after admitting that he had not been "fully transparent" about historical relationships with colleagues.
US says Google pays $10 billion a year to dominate search
The US government on Tuesday accused Google of paying out $10 billion a year to Apple and other firms in order to safeguard its monopoly over online search. Dintzer told Judge Mehta that Google pays out $10 billion every year to Apple and others to secure its search engine default status on phones and web browsers, thereby burying upstarts before they have a chance to grow.
AFP
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