FRANKFURT —A sudden jump in carbon prices coupled with floods and droughts this year would lead to losses of at least 70 billion euros ($71.1 billion) for the euro zone’s largest banks, the European Central Bank said on Friday. The …
The financial risk posed to companies by natural disasters keep growing and growing, and the size of potential losses is just eye-popping. Moody’s Investors Service says 18 sectors have a combined $7.2 trillion of debt with “high inherent exposure to …
From the deck of their tanker, Captain Samig Nabiyev and his crew could see the smoke and fire rising over the Port of Beirut, 900 meters away. When the flaming warehouse exploded, the force of the blast knocked Nabiyev flat …