Aon Risk Services 17th Political Risk Map highlights continued political and financial instability for global business in 2010, closely linked to the ongoing recession in many parts of the world. “Rising risk levels in 2009 have led to a significant …
A.M. Best Co. has assigned a debt rating of “bbb-” to the recently issued $250 million 8.875 percent senior unsecured notes, due 2040 of Bermuda’s Validus Holdings, Ltd., and has assigned them a stable outlook. Best noted that the “proceeds …
Trade ministers expressed gloom on Saturday, January 30, about the prospects of concluding stalled global trade liberalization talks this year, with many blaming the United States for foot-dragging. Ministers from about 20 major economies held informal talks on the sidelines …
China’s participation in an international naval operation to protect ships from pirates off the coast of Somalia should help improve maritime security in the Horn of Africa, an EU naval commander said Thursday. China said late last year it would …
Congressional investigators Thursday sought documents from Toyota Motor Corp and U.S. safety regulators about a pair of safety recalls the automaker was racing to address. House Energy and Commerce Committee Chairman Henry Waxman said he would hold a hearing next …
U.S. businesses and government agencies are facing increasing risks of potential cyber attacks from China, according to a recent report. And IT departments that react defensively to such attacks may not be doing enough to prevent a “long term, sophisticated …
Global business leaders warned Western governments on Wednesday that a populist crackdown on the financial industry could crimp a fragile recovery from the worst recession since the 1930s. The worried response to U.S. President Barack Obama’s plans to tax and …
The Intergovernmental Panel on Climate Change has admitted that its Fourth Assessment Report contained an error – in one paragraph of the 938 page document – in asserting that global warming could cause the glaciers in the Himalayan mountain ranges …
Markel International has appointed Simon Wilson to the role of director, international development. He joins Markel International from Lloyd’s. For the last three years, he was Lloyd’s general representative in Singapore and managing director of Lloyd’s Asia. Wilson oversaw the …
Life insurer and fund manager AXA Asia-Pacific Holdings Ltd expects to report a forecast-beating profit for 2009, putting pressure on rival bidders to raise their offers in a $12 billion battle for the company. AXA Asia-Pacific, which is being circled …
