According to people familiar with the matter, the European Union is working with some Group of Seven members to coordinate a ban on providing the insurance services required to ship Russian oil anywhere in the world, a move that could further limit Moscow’s ability to finance its war in Ukraine. As part of the effort,… Continue reading Europe Seeks G-7 Coordination on Russian Oil Insurance Ban
Tag: EU
EU Aims to Target Russia’s Global Oil Sales with Insurance Ban
The European Union is attempting to go beyond an import ban on Russian crude, focusing on insurers in a move that could severely limit Moscow’s ability to ship its oil anywhere in the world. According to officials and a draft document obtained by Bloomberg, the EU is considering prohibiting European vessels and companies from providing… Continue reading EU Aims to Target Russia’s Global Oil Sales with Insurance Ban
EU Cautions Against Rushing into Bloc-Wide Pandemic Insurance
The European Union’s executive body urged caution on Tuesday in the face of calls for a public-private scheme for insuring companies against economic lockdowns in future pandemics. “This is a very complex debate and needs time to mature,” John Berrigan, head of financial services at the European Commission, told an Insurance Europe event. “I want… Continue reading EU Cautions Against Rushing into Bloc-Wide Pandemic Insurance
European Commission Halts Review of Aon-WTW Merger, Awaits Data
EU antitrust regulators have suspended their investigation into Aon’s $30 billion bid for Willis Towers Watson while they wait for the U.S. insurance broker to provide data required for the case. The European Commission, which kicked off its probe in December because of concerns the deal to create the world’s largest insurance broker may hurt… Continue reading European Commission Halts Review of Aon-WTW Merger, Awaits Data
Virus Strikes Brexit With Both Sides’ Top Officials in Isolation
The coronavirus has struck at the heart of the post-Brexit trade talks between Britain and the European Union, with both sides’ top negotiators now in isolation. David Frost, the U.K.’s chief negotiator, is isolating himself after showing symptoms of the virus, a Downing Street spokesman said on Friday. On Thursday, Michel Barnier, Frost’s EU counterpart,… Continue reading Virus Strikes Brexit With Both Sides’ Top Officials in Isolation
Facebook Needs, Wants Regulation, Zuckerberg Says
For years, Facebook Inc. lobbied governments against imposing tough regulations, warning in some cases that they could harm the company’s business model. Now, it’s pleading for new rules for the good of its business. In a white paper published Monday, Facebook detailed its push for internet regulation, calling on lawmakers to devise rules around harmful… Continue reading Facebook Needs, Wants Regulation, Zuckerberg Says
Brexit Is Here: What Now?
The European Parliament gave the green light, so the UK will formally leave the EU tomorrow, January 31, with a withdrawal deal – and it will then go into a transition period that is scheduled to end on December 30, 2020. During this period the UK will effectively remain in the EU’s customs union and… Continue reading Brexit Is Here: What Now?
Brexit May Spur More Deals in Legacy General Insurance Policies
Britain’s impending departure from the European Union is creating expansion opportunities for specialist general insurers who buy up and manage policies closed to new customers. Whether Britain leaves the European Union without a deal or under a so-called hard Brexit, British insurers selling policies into the EU will need a local subsidiary, and vice versa.… Continue reading Brexit May Spur More Deals in Legacy General Insurance Policies
EU Approves Tougher Copyright Rules in Blow to Google, Facebook
Google will have to pay publishers for news snippets and Facebook filter out protected content under new copyright rules aimed at ensuring fair compensation for the European Union’s $1 trillion creative industries. EU governments on Monday backed the move launched by the European Commission two years ago to protect Europe’s creative industries, which employ 11.7… Continue reading EU Approves Tougher Copyright Rules in Blow to Google, Facebook
A Third of UK Companies Considering Relocation Due to Brexit: Survey
A survey by the Institute of Directors (IoD) has found that nearly one in three UK businesses are planning to relocate some of their operations to other countries or have already done so to prepare for a no-deal Brexit, The Guardian reports. 29 percent of firms in a survey of 1,200 believed Brexit posed a… Continue reading A Third of UK Companies Considering Relocation Due to Brexit: Survey