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Insurance

FTC Poised to Sue Amazon for Antitrust Violations

By Hometown Insurance | September 25, 2023
The Federal Trade Commission is expected to sue Amazon.com Inc. for antitrust violations next week, according to people familiar with the matter – marking the agency’s fourth swipe at the online retail giant this year. The lawsuit, expected to be …
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Tech Startups in US, France, Germany Help in Fight Against Wildfires

By Hometown Insurance | September 25, 2023
This year has been a challenging one for Phil Schneider, who hasn’t seen wildfire behavior like this in his 47-year firefighting career. Blazes raged through more than 2,000 acres of wildland in recent months in his county deep in the …
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US Energy Regulator Recommends Revising Reliability Standards for Extreme Weather

By Hometown Insurance | September 25, 2023
The Federal Energy Regulatory Commission on Thursday [Sept. 21] recommended revising reliability standards for power grid and natural gas infrastructure to avoid issues during extreme weather, as part of findings from a report on winter storm Elliott in 2022. Elliott …
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Alpine Tunnel Chaos Puts Crucial European Network Under Strain

By Hometown Insurance | September 25, 2023
When a landslide blocked an aging Alpine tunnel connecting Italy and France this summer, Livio Ambrogio knew what the fallout was going to be for his freight business: time and money. The closure of the 8-mile long Frejus tunnel meant …
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Hedge Fund Manager Crispin Odey Faces Lawsuit Over Sexual Misconduct Allegations

By Hometown Insurance | September 25, 2023
Two of Crispin Odey’s alleged victims have filed a lawsuit against the hedge fund manager and his eponymous former firm. Two former employees have submitted a civil claim against Odey Asset Management and the 64-year-old former executive, according to Jill …
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Britain Proposes Diversity and Misconduct Rules for Financial Services Firms

By Hometown Insurance | September 25, 2023
Britain’s financial regulators proposed guidance on Monday for financial firms to tackle sexual harassment and bullying, along with new requirements for large banks and insurers to set targets to improve diversity and inclusion. The Financial Conduct Authority (FCA) and the …
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Russia Dodges G7 Price Cap Sanctions on Most of Its Oil Exports: FT

By Hometown Insurance | September 25, 2023
Russian crude oil supplies increased 50% this spring despite the G7 countries imposing sanctions due to war in Ukraine, the Financial Times reported on Sunday citing data from analytics company Kpler. The European Union, G7 countries and Australia introduced a …
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Aviva Agrees to Acquire AIG’s UK Protection Business for $563 Million

By Hometown Insurance | September 25, 2023
British insurer Aviva said on Monday it had agreed to acquire the UK protection business of AIG for 460 million pounds ($563 million). Aviva said it would buy the unit – known as AIG Life UK – from Corebridge Financial …
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US Wildfire Fighters Are Hitting a Pay Cliff at the Worst Time

By Hometown Insurance | September 25, 2023
In Fairbanks, Alaska, the US Forest Service is looking to hire a smokejumper, a person who parachutes out of a rickety airplane to wrangle wildfires that break out far from roads or rivers. Little experience is necessary; the pay starts …
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EEOC Sues UPS, Alleging Discrimination Against Deaf Drivers

By Hometown Insurance | September 25, 2023
The U.S. Equal Employment Opportunity Commission (EEOC) on Friday said it sued United Parcel Service for disability discrimination, alleging the delivery firm refused to hire deaf or hearing-impaired individuals as drivers. The agency said the Department of Transportation (DOT) has …
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