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Australia passed a new law on April 4, under which social media and web hosting companies could be fined up to 10% of annual global revenues if they fail to remove violent content "expeditiously," Reuters reported. Under the new law, top executives of internet companies including U.S.-based Google L.L.C. and Facebook Inc. could face imprisonment for up to three years if they fail to remove any videos or photographs that show murder, torture or rape from their platforms.
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2. Zurich Insurance to stop underwriting new oil and gas projects
3. Bermudan, European reinsurers to suffer major hit from bridge collapse
4. Tycoon gets death sentence for multi-billion-dollar fraud
5. Inflation drives 10% increase in sum insured for windstorms
6. Apple loses bid to throw out $977M lawsuit over app store fees