International News

Ethiopian Airlines, MAX Claims Put Pressure on Swiss Re Profits

FRANKFURT — Swiss Re’s first-half net profit fell 5.3%, as claims relating to the Ethiopian Airlines crash and the subsequent grounding of the Boeing 737 MAX, plus natural catastrophes took their toll. The world’s second-largest reinsurance company highlighted claims from …

Europe Heat Wave Set to Break Records: Paris Hotter Than Cairo

Europe’s latest summer heatwave broke heat records just weeks after the continent recorded its hottest ever June, fueling concern that a shifting climate is making extreme weather events more frequent. Germany probably set a new all-time temperature record of 106.7 …

American Modern, Westhill, Fidelis and Praedicat Make Appointments

American Modern Names New Chief Claims Officer American Modern Insurance Group announced the appointment of Eric Hunziker as chief claims officer effective July 1. Hunziker will also become a member of American Modern’s Executive Management Board. Hunziker has been with …

Heatwave Meets Drop Shipping With Arctic Cube Air Conditioning: Viewpoint

The AirFreez is a funky-looking cube that, according to its website, uses “hydro-chill technology” to cool air and purify it in a “totally eco-friendly way” by using water rather than chemicals. It sounds too good to be true: a way …

Bayer’s Other Legal Mess: An Old Liability Many Have Forgotten

The widening legal nightmare over Roundup weedkillers isn’t the only potential multi-billion-dollar liability Bayer AG inherited last year when it acquired Monsanto Co. While thousands of damage claims over Roundup have grabbed headlines and hogged the attention of investors, the …

Gulf Tanker Incidents May Raise Shippers’ Costs, Cut Traffic

Seizures of oil tankers and other hostile Iranian measures in the Strait of Hormuz are already raising insurance rates for shipping companies and could eventually reduce tanker traffic in the vital waterway, with a spike in global oil prices a …

Boeing to Take $4.9 Billion Charge on 737 Max Fallout

Boeing Co. said it would report a $4.9 billion accounting charge related to its beleaguered 737 Max jetliner, and downplayed the risk that the plane’s return to service would be delayed until next year. The after-tax writedown, equivalent to $8.74 …

Seeking to Avoid Escalation, Ships Deploy Unarmed Guards to Navigate Gulf

LONDON — Shipping companies are hiring unarmed security guards for voyages through the Middle East Gulf as an extra safeguard after a wave of attacks in the region, security companies involved said. Relations between Iran and the West are increasingly …

Chinese Drones Banned by Tech Supplier to U.S. Police

A supplier of drone technology to dozens of state and local law enforcement and public safety agencies, located in the U.S. and a handful of other countries, will stop working with Chinese drone manufacturers, citing security concerns. Cape, a Redwood …

Drugmaker Shredded Quality Documents Ahead of FDA Inspection

An India-based company that sells numerous drugs in the U.S., including ibuprofen, was caught attempting to dispose of quality-control records, calling into question the safety of its medicines. U.S. Food and Drug Administration inspectors said they found what appeared to …

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