Environmentalists suffered a setback on Monday when Germany’s top appeals court threw out their cases seeking to ban Mercedes-Benz and BMW from selling new combustion-engine cars from November 2030. The federal court of justice in Karlsruhe upheld lower court rulings against the lawsuits, brought by three managing directors from the DUH environmental lobby The DUH had based its case on a “carbon budget” calculated for each of the two automakers But the court ruled that no such budget had been allocated to individual companies Both Mercedes-Benz and BMW welcomed the ruling while stressing their commitment to sustainability The decision provides…
Author: Awais
A fire that broke out Monday almost completely destroyed the 134-year-old Floyd County Courthouse in Rome, Georgia, leaving officials looking for new office space for some government functions, local news sites reported. The scene Monday at the courthouse. (Facebook) The courthouse, built in 1892 and listed on the National Register of Historic Places, was undergoing a $4 million renovation when it caught fire around 2 p.m. Fire crews battled the blaze for hours in strong winds, but much of the interior of the structure and the clock tower could not be saved, according to Georgia Public Broadcasting and multiple other…
The estate of late British tech tycoon Mike Lynch was on Tuesday refused permission to appeal a ruling by London’s High Court that he was liable to Hewlett Packard Enterprise over its acquisition of his firm Autonomy. The U.S. technology giant Hewlett Packard is trying to recoup losses arising from its 2011 acquisition of Autonomy for $11.1 billion from the estate of Lynch, who died in 2024 when his luxury yacht sank off Sicily. HP accused Lynch and Autonomy’s former chief financial officer, Sushovan Hussain, of inflating the firm’s value before the takeover. HP wrote down Autonomy’s worth by $8.8…
The Federal Communications Commission ordered a ban on the import of new models of foreign-produced consumer wireless routers after an interagency panel determined they threaten national security. While the FCC said companies could apply for exemptions, the move could dramatically shake up the market for routers, which are primarily made overseas. Consumers and businesses connect wired internet lines to routers to create Wi-Fi networks for computers, phones, TVs, cameras and other internet-enabled products. The action puts further pressure on TP-Link Systems Inc., one of the world’s largest makers of routers. The company, which was founded in China 30 years ago…
Global reinsurance business Ariel Re has announced a series of promotions across both its Bermuda and London offices, including Andy Kerr being promoted to Senior Vice President, Capital.An experienced figure within the insurance-linked securities (ILS) industry, the Bermuda-based Kerr, joined Ariel Re in August 2022, previously serving as Vice President, Capital, where he has held responsibility for executing on the firm’s capital strategies as well as acting as Ariel Re’s ceded buyer. Additionally, Kerr also works on capital partnerships with third-party investors as well at Ariel Re. Before he joined Ariel Re, Kerr spent a few years at Nephila Climate,…
Judge Menashi dissented separately, agreeing that the president’s recognition of Afghanistan as a state should stand but arguing the bank itself no longer qualifies as an agency of that state. He pointed out that the Afghan banking law the panel relied on – which says the bank’s capital belongs to the state of Afghanistan – is effectively inoperative, and that a 2017 doctoral dissertation cited by the panel simply repeated those now-defunct legal formalities without reflecting who actually controls the institution today. On the TRIA question, Menashi highlighted what he described as a perverse result: under the panel’s timing rule,…
Iran launched multiple waves of missiles at Israel on Tuesday, the Israeli military said, after U.S. President Donald Trump postponed the bombing of the Islamic Republic’s power plants and other energy infrastructure because of what he described as productive talks with Iranian officials. The missiles triggered air raid sirens in Israel, including Tel Aviv, where gaping holes were torn through a multi-story apartment building. It was not immediately clear if the damage was caused by a direct hit or debris from an interception. Israel’s Fire and Rescue Service said they were searching for civilians trapped in one building in Tel…
The bill, introduced by Representatives Adison Richards and Andrew Barkis and referred to the Committee on Transportation on January 21, 2026, amends two sections of Washington’s Revised Code. The first, RCW 46.12.600, governs how destroyed and total loss vehicles are reported and documented. The second, RCW 11.125.050, sets out how powers of attorney must be executed in the state.
Hannover Re has facilitated another private catastrophe bond arrangement, as its Bermuda-domiciled transformer vehicle Kaith Re Ltd. has issued a $20 million Seaside Re (Series 2026-71) transaction that is exposed to US property catastrophe risks and will provide reinsurance or retrocession for an unknown sponsor.Hannover Re continues to play an increasingly important facilitation role in the insurance-linked securities (ILS) marketplace, with private cat bonds just one way it helps clients access capacity from the capital markets and investors to access securitized sources of typically catastrophe reinsurance risks. In 2025, we analysed and tracked almost $127.6 million of issuance from Hannover Re’s…
They include a new medical chief and a new board chair
Alphabet-owned Wing plans to begin delivering packages by drone to homes in California’s San Francisco Bay Area in the coming months, it said on Monday, extending its rollout to one of its earliest testing grounds. Wing is seeking to scale what it says is a solution to the hurdles facing last-mile delivery of small household items and meals by using lightweight, automated drones designed to fly directly to homes in dense residential areas. The expansion marks a return to the roots for the company, which was founded in the Bay Area in 2012 as part of Alphabet’s X. X is…
New York small businesses, big businesses, rideshare companies, police and fire unions, insurers, insurance agents, truckers, bus companies, auto repair shops, university professors, district attorneys, mayors, immigrant and minority groups and others have come out in support of Gov. Kathy Hochul’s auto insurance reforms that are intended to lower costs for drivers by fighting fraud and discouraging excess litigation and excess insurer profits. Even faith leaders have joined the campaign. Following an endorsement from the Reverend Al Sharpton, 50 clergy and faith leaders from Buffalo to Brooklyn sent a letter to lawmakers urging them to take action on auto insurance…
Colleges are racing to comply with President Donald Trump’s demand for sweeping admissions data and bracing for those records to fuel a new crackdown on campus diversity efforts. They face a Wednesday deadline to submit these documents, even as a federal judge considers whether that mandate is enforceable. In August, Trump issued an executive action requiring universities to provide data on race, GPA and test scores for all their applicants since 2019. The administration says the survey, called the Admissions and Consumer Transparency Supplement, is necessary to ensure schools aren’t giving preferential treatment based on race, a practice outlawed by…
The U.S. insurance industry saw $7.3 billion of adverse loss development in the other liability (occurrence) line during 2025, with more than half of the total coming from recent accident years, according to a new report. The report published by S&P Global Market Intelligence last week shows $3.9 billion of one-year adverse development for accident years 2021-2023 for the other liability (occurrence) line—and nearly $3 billion of reserve strengthening in accident years 2022 and 2023 alone. Adverse development is now centered on recent accident years rather than legacy runoff, the report notes, referring to the smaller $1.0 billion boost for…