Monthly Archives: <span>January 2021</span>

Fire on Prudence Island Destroys Three Homes

Three homes were destroyed and two others were damaged in a Thursday night fire on Prudence Island, Rhode Island, fire officials said. Firefighters from Portsmouth and several nearby communities responded to the fire around 11 p.m., according to The Newport …

Pennsylvania Water Customer in Arrears Burned Workers with Acid

A Pennsylvania woman who didn’t pay her water bill has been charged with felonies including the use of weapons of mass destruction after she burned three municipal workers with acidic drain cleaner as they tried to restore her service, authorities …

Libor Remains a Big Problem, But At Least It’s Getting Smaller

Untangling the vast global derivatives industry from Libor just got a bit easier. The London interbank offered rate is hardwired into swaps and other contracts worth hundreds of trillions of dollars, but it’s slated to disappear in the not-too-distant future. …

Foley’s SPAC in $7.3B Deal to Take Blackstone’s Benefits Firm Alight Public

A blank-check firm backed by prominent investor Bill Foley has agreed to take Alight Solutions LLC, the U.S. benefits services provider owned by buyout firm Blackstone Group, public in a deal valued at $7.3 billion, the companies said on Monday. …

Australian Securities Regulator Suffers Cyber Security Breach

Australia’s securities regulator said on Monday there was a cyber security breach at a server it used to transfer files including credit license applications where some information may have been viewed. The Australian Securities and Investment Commission (ASIC) said it …

Nearly Two-Thirds of Global Catastrophe Economic Losses Unaddressed by Insurance

There were 416 natural catastrophe events globally in 2020 that resulted in economic losses of $268 billion – 8% above the average annual losses for this century, according to insurance broker Aon’s latest catastrophe loss report. Of this total, private …

Louisiana Citizens Opens Search for Catastrophe Service Vendors

Request for Proposals Announcement Louisiana Citizens Property Insurance Corp. (“LCPIC”), has released a new request for proposals for vendors to service insurance claims after a catastrophe, such as in response to a hurricane. Proposals from applicants can be submitted on …

‘Totally Destroyed’ Indonesia Jet in Java Sea Makes Search Almost Impossible

Bayu Wardoyo tends to skip the 6 a.m. breakfast of Indonesian fried rice served to divers on the ship searching for wreckage of the Sriwijaya Air passenger jet that crashed in the Java Sea on Jan. 9. He prefers coffee, …

United Airlines CEO Urges Employers to Mandate COVID-19 Vaccines

United Airlines may make the COVID-19 vaccine mandatory for employees, and other companies should do the same, United Chief Executive Officer Scott Kirby told workers at a meeting on Thursday, according to a transcript reviewed by Reuters. A United spokeswoman …

Volkswagen Talks Damages Claims Against Chip Suppliers Over Shortages

German car manufacturer Volkswagen is in talks with its main suppliers about possible claims for damages due to a shortage of semiconductors, a company spokesman said on Sunday. Automakers around the world are shutting assembly lines due to problems in …