INSURANCE NEWS
National Grid to Pay $5.3M to Settle Gloucester Environmental Damage Claims
National Grid agreed to pay $5.38 million to state and federal agencies to resolve claims over environmental damage caused by the defunct Gloucester Gas Light Company, officials said Friday. Hazardous chemicals released by the plant, which operated from 1854 to …
Slow-Moving Storm Puts New York City, East Coast Under Flood Threat
New York City and the eastern US braced Sunday for severe thunderstorms as a creeping weather front drags across the region and raises the risk of flooding from Vermont to North Carolina. The slow-moving line of showers was crossing the …
ECB Cyber Stress Test Won’t Deliver Direct Capital Hit to Banks
The European Central Bank’s cybersecurity stress test next year won’t have a direct impact on capital requirements, limiting the exercise’s potential repercussions for investor payouts. The test will be a learning experience for lenders and the supervisor, ECB officials said …
Aviation Lessors Fight to Stop Insurance Dispute Hearings in Russia
More than 40 aviation leasing firms, locked in a battle with insurers over who should bear up to $10 billion in costs for 400 jets stuck in Russia, are urging the High Court to allow a reinsurance dispute to be …
London Is Falling Down — Because of Climate Change
Britain’s increasingly extreme weather is shaking the very foundations of its centuries-old history. The nation has been experiencing prolonged periods of drought after wet winters since last year. That’s causing the porous rock beneath vast parts of southeast of England, …
Meat Processor Agrees to Reform Hiring After Two Teens Found at a Minnesota Plant
OMAHA, Neb. (AP) __ A second company involved in meat processing has agreed to reform its hiring practices after investigators recently discovered teenagers working there. The Labor Department said Friday that Monogram Foods will pay a more than $30, 000 …
Siemens Energy Deepens In-house Probe Into Wind Turbine Problems: Sources
Siemens Energy’s management board has set up a task force to establish the scope of deepening problems at its crisis-ridden wind turbine division, including quality issues at its two most recent onshore platforms, two supervisory board sources said. The investigation …
Kansas Attorney General Sues to Prevent Transgender People From Changing Driver’s Licenses
TOPEKA, Kan. (AP) – The Republican attorney general of Kansas sued Friday to block transgender residents from changing their sex on their driver`s licenses and to rebuke the Democratic governor for defying his interpretation of a new law. Attorney General …
EPA’s Lax Enforcement Leaves Thousands of Lead Pipes in Chicago Drinking Water
Even though lead in drinking water damages children`s development, the Environmental Protection Agency has forced very few cities to replace their lead pipes. Consider Chicago, with more water pipes made out of lead than any U.S. city, some 400,000. About …
Robots Say They Won’t Steal Jobs, Rebel Against Humans
Robots presented at an AI forum said on Friday they expected to increase in number and help solve global problems, and would not steal humans’ jobs or rebel against us. But, in the world’s first human-robot press conference, they gave …
Why Labor Unions Are Gaining Leverage in Contract Talks With Big Employers
U.S. union workers are finding more solid footing during contract negotiations with employers as a tight labor market allows employees to flex more bargaining power. Airline pilots, railroad employees, dockworkers, and others have pushed for higher pay and better benefits, …
Musk Claims Lawyers Overbilled in Fight to Make Him Buy Twitter
Elon Musk sued the law firm that led the court fight to make him complete his takeover of Twitter, saying it took advantage of the company while running up a $90 million bill. Wachtell Lipton Rosen & Katz, among the …