Former VW Chief Tells Court He Didn’t Deceive Investors Over Dieselgate
Former Volkswagen chief executive Martin Winterkorn told a German court on Wednesday he did not deceive investors over the carmaker’s rigging of diesel engine emissions tests. It was the first time Winterkorn has spoken about the so-called dieselgate scandal in …
The Art of Managing Cyber Risk for Museums
Cyber attacks are a concern for many industries, and the museum sector is no exception. As more museums and cultural institutions are using technology to display digital works, manage internal documents, or store donor data, the risks are prevalent. “The …
Cyberattack Hits German Battery Maker Varta, Halts Production
German battery maker Varta AG was hit by a cyberattack Monday night that halted production in five of its production facilities, the company said. The company’s information technology systems “and thus also production were pro-actively temporarily shut down for security …
Brexit Red Tape Puts Valentine’s Day Thorn in UK Flower Trade
Giraffe Flowers in Manchester, northern England, is preparing for the annual Valentine’s Day rush but florists fear that Brexit trade barriers will increasingly spell higher costs and delays for their business. The company operates two shops in the center of …
US Seeks More Than $1 Billion From Collapsed SVB for Taxes
The US Internal Revenue Service is seeking to recover about $1.4 billion in taxes it claims are owed by Silicon Valley Bank, the regional lender that failed last year. The federal tax agency claims the California-based lender owes both corporate …
Prudential Reports Unauthorized Access to Its Computer Systems
Prudential Financial has disclosed a hacker gained unauthorized access to its systems earlier this month. In a Feb. 13 filing with the U.S. Securities and Exchange Commission, Prudential said that on Feb. 5 it detected a threat actor — believed …
Commercial Real Estate Trouble Evident in Fading Downtown Construction
When Rahm Emanuel ran Chicago and wanted to boast about the health of the city, the then-mayor pointed to the number of construction cranes across the skyline — 60 at the end of 2017. Almost five years after he left …
South Carolina House Endorses Paid Family Leave Insurance Bill
The South Carolina House of Representatives has approved a framework for paid family leave insurance in the state, sending House Bill 4832 to the Senate. By a vote of 110-0, the House last week passed the bill that would allow …
New York Attorney General Triples Size of Crypto Fraud Lawsuit to $3 Billion
New York Attorney General Letitia James on Friday expanded her lawsuit against Digital Currency Group and other cryptocurrency defendants, tripling the size of their alleged fraud scheme to more than $3 billion. James had in October sued DCG, its Genesis …
SAIF in Oregon Reports Ice Caused Most Workplace Slips, Trips, Falls in 7 Years
SAIF in Oregon, which reported receiving 400-plus claims after January’s winter weather, said more Oregon workers were injured from slips, trips, and falls due to snow or ice than during any other storm since January 2017. SAIF, Oregon’s not-for-profit workers’ …
California Lawmakers Call for Stricter Regulation of Autonomous Vehicles
California lawmakers and labor unions rallied to call for laws to not allow autonomous trucks without human drivers, amid rising safety concerns after accidents involving self-driving taxis from General Motors and Alphabet. A robotaxi from Alphabet’s GOOGL.OWaymo was torched by …
AIG General Insurance Q4 Income Up 19% on Underwriting, Investments
American International Group (AIG) during the fourth quarter 2023 recorded underwriting income of $642 million within its General Insurance segment — a slight increase from $635 million during the same quarter the prior year. Adjusted pretax income (APTI) in the …
Viewpoint: The Cyber Risk Pendulum
Privacy risk is so 2014, right? Ten years ago, numerous retail and healthcare companies were hit with data breaches related to the exposure of credit card or healthcare data. Given many data breach claims, which included fines by state attorney …
Nearly 75% of Employers Don’t Have AI Protocols for Internal Communications: Study
Despite organizations’ increased adoption of artificial intelligence (AI), 71% don’t provide internal guidance on when, where or how to use the technology, according to Gallagher’s 2023/24 State of the Sector report. Drawing on insights from more than 2,300 communication and …
Magnitude 5.7 Earthquake Struck Mauna Loa Volcano in Hawaii
A magnitude 5.7 earthquake struck the world’s largest active volcano on Friday — Mauna Loa on the Big Island of Hawaii — knocking items off shelves and cutting power in a nearby town but not immediately prompting reports of serious …
Dartmouth Basketball Players’ Labor Victory Only Start of Path to Union Deal
A ruling that gives the Dartmouth basketball team the right to unionize has far-reaching implications for all of college sports — from the quaint, academically oriented Ivy League to the big-money football factories like Michigan and Alabama. But it’s not …
SEC Hits More Wall Street Firms With $81M in Fines Over Record-Keeping
A new group of Wall Street firms has agreed to pay more than $81 million in civil penalties to settle U.S. Securities and Exchange Commission charges of record-keeping failures, the regulator said on Friday. The settlements with broker-dealers and investment …
Captive Insurance Expert Pleads Guilty to Aiding Solar Ponzi Scheme Leaders
Remember the Carpoffs, the California couple sent to prison in 2021 and 2022 for running a $1 billion Ponzi scheme tied to mobile solar generators? The scheme that reportedly ensnared Warren Buffet’s Berkshire Hathaway and the Progressive insurance corporation? A …
HP Claims $4 Billion Losses in London Lawsuit Over Autonomy Deal
Hewlett-Packard lost more than $4 billion over its acquisition of British software firm Autonomy because of an elaborate fraud masterminded by its co-founder Mike Lynch to inflate the company’s value, HP’s lawyers told a London court on Monday. HP is …
People Moves: Starkweather & Shepley Names Chairman, CEO
Starkweather & Shepley Insurance Brokerage Inc., headquartered in Providence, Rhode Island, named Andrew Fotopulos chairman and Peter Plumb chief executive officer. The two will assume their roles in June upon the retirement of Larry Keefe, current chairman and chief executive …
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