Boeing faces growing scrutiny in Ethiopian crash probe
(Reuters) – The world’s biggest plane-maker faced escalating pressure on Monday after Ethiopia pointed to parallels between its crash and one in Indonesia, sharpening the focus on the safety of software installed in Boeing 737 MAX planes.
Berkshire says vice chairmen Jain, Abel each make $18 million
(Reuters) Berkshire Hathaway Inc. said its newest vice chairmen, Greg Abel and Ajit Jain, were each awarded about $18 million last year in the first detailed look at the pay of the men considered the leading candidates to succeed Warren Buffett as the conglomerates chief executive.
Huawei builds own operating systems to mitigate disruption risk
China-based Huawei Technologies Co. Ltd. has developed its own operating systems for its devices in case U.S.-based Google L.L.P.’s Android operating systems become unavailable due to political tensions.
$200 million in damage after Pepsi plant, 500 business ransacked
Venezuela’s business association Fedecamaras said that a recent power outage across the country is likely to cost firms more than $200 million after looters ransacked 500 businesses in Maracaibo.
Minimum capital law would drive industry consolidation
A survey by U.S.-based ratings agency Moody’s Corp. found that one-third of Saudi Arabian insurers expect new regulations that increase minimum capital requirements by 400% to drive consolidation among small players.
Google faces stiff fine over its AdSense business policy
The European Union’s anti-trust regulator is expected to impose a stiff fine on U.S.-based tech giant Google L.L.P. for its AdSense business policy.
General insurers’ premiums rise 11% in Hong Kong
Hong Kong-based general insurer’s gross written premiums grew more than 11% year over year to nearly $54 billion Hong Kong ($7 billion) in 2018.
Cyclone damages businesses, infrastructure across southern Africa
Cyclone Idai struck Mozambique, Zimbabwe and Malawi in southern Africa on March 14, damaging businesses and infrastructure including roads and bridges across the region.
Brit to continue to boost ILS capacity
U.K.-based insurer and reinsurer Brit Ltd. plans to continue to increase its managed capacity from nearly $450 million in February for its insurance-linked securities units.
Deputys ATV adventure lands him in court
The next adventure for a Mississippi sheriffs deputy and prison guard: court and possible jail for fraud, among other charges stemming from his alleged creation of a false report that his ATV was stolen.
Houston petrochemical storage terminal fire may last two more days
(Reuters) A massive fire at a fuels storage company along the Houston Ship Channel may burn for two more days, an official said on Monday as the blaze spread a plume of black smoke across the city, shutting schools in two nearby communities.
NFIP unveils data-driven risk rating system
The National Flood Insurance Program is launching a new risk rating system for its flood insurance policies.
Opioids affect 75% of US workplaces: Study
Seventy-five percent of U.S. employers say they have been directly affected by opioids, but only 17% of them feel extremely well prepared to manage the issue, according to survey results released Monday by the National Safety Council.
Nine university teams chosen for Spencer-RIMS competition
Students from nine university teams have been selected to compete in Boston for the 2019 Spencer-RIMS Risk Management Challenge top honor, The Risk & Insurance Management Society Inc. said Monday.
Private equity firm completes investment in MGA
Preservation Capital Partners Ltd., a financial services-focused private equity firm, has completed its strategic investment in U.S. construction-focused managing general agent Cove Programs Insurance Services LLC after receiving all necessary regulatory approvals, Preservation Capital said in a statement Monday.
Biometric data case against senior living center settled
A putative class action lawsuit filed against a Chicago senior living center under the Illinois Biometric Information Privacy Act has been settled for an undisclosed amount, according to a district court filing in the case.
AIG unit wins coverage litigation against Humane Society
An American International Group Inc. unit has prevailed in coverage litigation against The Humane Society of the United States, with a federal appeals court holding that a related state court ruling does not impact its decision to uphold the district court in the case.
US judge says Rio Tinto must face SEC fraud case
(Reuters) A U.S. judge on Monday rejected Rio Tinto PLC’s bid to dismiss a Securities and Exchange Commission lawsuit accusing the Anglo-Australian mining company of civil fraud in its handling of a failed investment in a Mozambique coal project.
Warner Bros. CEO Kevin Tsujihara steps down
(Reuters) Warner Bros. Chairman and Chief Executive Kevin Tsujihara has resigned from one of Hollywood’s most powerful studios following a report that he improperly helped an actress obtain roles at the studio.
2020 budget proposes to maintain OSHA funding
Funding for federal safety enforcement and workplace inspections will increase slightly in 2020, but overall funding for the U.S. Occupational Safety and Health Administration will be reduced by $254,000, according to President Donald Trumps proposed 2020 budget.