The UK’s Prudential Plc is expected to outline divestments of some Asian assets in its upcoming rights offering prospectus in an effort to appease shareholder concerns about its planned AIA acquisition, a source familiar with the process told Reuters on …
European finance ministers triggered a record €110 billion ($147 billion) bailout for debt-stricken Greece on Sunday, May 2, when Athens committed itself to years of painful austerity. After weeks of tough talk and procrastination due to fierce public opposition to …
Innovation vital for Europe’s future is at risk, because the global financial crisis has turned once-challenging emission reduction goals into easily achievable targets, the European Union’s top climate official said. Connie Hedegaard, European Commissioner for Climate Action, said the continent …
South Korea has sent a destroyer to intercept a supertanker carrying as much as $170 million worth of crude oil that was seized by Somali pirates, officials said on Monday. The South Korean-operated, Singapore-owned Samho Dream, which can carry more …
South Korea’s Foreign Ministry said a South Korean-owned oil tanker with 24 sailors aboard is believed to have been hijacked by Somali pirates. The ministry said the hijacking is thought to have occurred on Sunday about 930 miles (1,500 kilometers) …
A tropical cyclone forced Australia’s second-biggest coal port to close on Friday, bringing millions of tons of coal shipments to a halt and threatening to damage thousands of acres of sugar-cane fields. Australia’s Dalrymple Bay coal terminal ceased operations due …
Lloyd’s Chairman, Lord Levene, visited Japan and South Korea last week where he opened the new Lloyd’s Japan office and hosted an event with Korean Re, titled – Lloyd’s – A Working Partnership. Lloyd’s bulletin pointed out that “Japan is …
An independent board of scientists will be appointed to review the world’s top climate science panel, which has been accused of sloppy work, a U.N. climate spokesman said on Friday. The Intergovernmental Panel on Climate Change (IPCC) has been under …
When Bob Hagan was a boy in Youngstown, Ohio, people equated the coke dust they swept off their doorsteps each day with opportunity, for it came from the steel mills that built this city. After graduating from high school more …
A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of South Korea’s Samsung Fire & Marine Insurance Co., Ltd. The …
