German exports drop amid supply chain disruptions
Alexander Kruger, chief economist at German bank Bankhaus Lampe KG, has attributed the decline in German exports in September to the supply chain bottlenecks which have affected the production levels in the country.
U.S. warns against IP, trade secret risks in draft EU tech rules
Draft landmark EU rules requiring U.S. tech giants to share information with rivals could put at risk companies’ intellectual property and trade secrets, the United States government warned in a document seen by Reuters.
Allianz expects record year as U.S. fund investigation looms
Allianz nudged its forecast for record profit in 2021 even higher Wednesday after a bumper third quarter while it tries to work out how much money it may need to set aside for a U.S. investigation into its fund management division.
SEC chair seeks to scrutinize private fund fees
The chair of the U.S. Securities and Exchange Commission said Wednesday that the agency will consider new rules that scrutinize how private funds charge investors and measure performance.
McKinsey partner charged with insider trading
A partner at the McKinsey consulting firm was criminally charged Wednesday with insider trading ahead of Goldman Sachs Group Inc.’s agreement to buy fintech lender GreenSky Inc. for $2.24 billion, U.S. prosecutors said.
Class action against Google blocked by UK Supreme Court
The U.K. Supreme Court has blocked a planned £3.2 billion ($4.3 billion) British class action against Google over allegations the internet giant unlawfully tracked the personal information of millions of iPhone users.
Study: Sharp markups on hospital Rx costs to private payers
Hospitals are charging private health insurers “considerable markups” on highly used outpatient drugs, according to a new study in JAMA Internal Medicine.
Renaissance Life & Health to acquire Dentist Direct
Renaissance Life & Health Insurance Co. of America announced it will acquire Dentist Direct, a Utah-based dental and vision insurance carrier, and its affiliate Direct Access, a discount dental plan provider for an undisclosed amount.
Humana to add diabetes management to self-funded plans
Humana Inc. will offer a diabetes management platform that has proven effective in clinical trials at reducing Type 2 diabetes to its self-funded, large employer clients.
Uber sued over alleged disability discrimination
The U.S. Justice Department Wednesday sued ride-sharing service Uber Technologies Inc. over allegations of overcharging people with disabilities and asked a federal court to order the company to comply with a federal law protecting the disabled from discrimination.
Fierce backlash ensures fight against Biden vaccine mandate
The Occupational Safety and Health Administration last week published its much-anticipated and already highly contested emergency temporary standard requiring employers with 100 or more employees to either mandate vaccinations for their workforce or enforce weekly testing.
State high court says repeat injury not compensable
The Supreme Court of Appeals of West Virginia on Tuesday reversed and remanded prior rulings that an injured mechanics repetitive injury to his right wrist was compensable.
Ontario teachers fund invests in Lloyd’s protected cell company
Lloyds of London said Wednesday it has secured the backing of Canadian pension fund Ontario Teachers Pension Plan Board for a £100 million-plus ($134.7 million) deal using London Bridge Risk PCC Ltd., the protected cell company set up by Lloyds earlier this year.
Insurtech funding tops $15B in 2021: Forrester
Insurtech funding reached $5.3 billion in the third quarter of 2021 and has surpassed $15 billion for the year, according to a report Wednesday from Forrester Research Inc.
NHTSA issues first whistleblower award
The National Highway Traffic Safety Administration said Tuesday it has issued its first whistleblower award, totaling more than $24 million, in connection with information provided regarding Hyundai Motor America and its affiliate Kia Motors America.
EEOC, Labor, NLRB partner on retaliation initiative
The U.S. Equal Employment Opportunity Commission, the U.S. Department of Labor and the National Labor Relations Board said Wednesday they have formed a joint initiative to increase awareness about retaliation issues when workers exercise their protected labor rights.
Lawsuit against Lloyds on delayed legal payments can proceed
A federal district court refused Wednesday to dismiss contract breach charges filed by a credit reporting agency against Lloyds underwriters and CFC Underwriting Ltd. because of their alleged long delay in paying its attorneys fees under its management liability coverage.
Boeing to compensate victims in Ethiopian Airlines 737 MAX crash
Boeing Co. on Wednesday agreed to acknowledge liability for compensatory damages in lawsuits filed by families of the 157 people killed in the 2019 Ethiopian Airlines 737 MAX crash, according to a filing in U.S. District Court in Chicago.
Venbrook acquires Alpharetta Underwriters
Woodland Hills, California-based Venbrook Group LLC said Wednesday it has acquired Alpharetta Underwriters LLC, a specialty managing general agent that focuses on excess and surplus coverage for the construction industry.
Employer rolls cheese into benefits offering
Facing difficulties finding workers, a U.K. employer has added free cheese to its list of employee benefits in hopes of attracting job applicants.