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...IAG and Tokio Marine are among those being pursued by Greensill creditors, including Credit Suisse, in Australia’s federal court in a test case that will decide whether insurance policies that the collapsed...
...Marine insurance experts told the Financial Times that the accident would probably lead to a substantial claim, including for damage to the bridge and disruption to the port....
...But it’s going to be dependent on which data, which company and which time....
...Neal said it could end up being the largest marine insurance claim in history. [MUSIC PLAYING] Instant noodles are a powerful weapon against starvation....
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
...“You can imagine all sorts of additional claims that might involve insurance companies, suits against directors, wrongful death claims, all sorts of things.”...
...Offshore projects have also been coming under heavy fire from residents on the Jersey Shore, citing concerns for marine life and fisheries as well as having their ocean views spoiled by giant spinning turbines...
...The Federal Deposit Insurance Corporation needs to recoup $15.8bn spent on containing bank runs. It aims to do so with a levy on uninsured deposits. Some banks are trying to game the system....
...The more volatility there is the harder it is for investors to invest,” said Paul Hastings, chief executive of Nkarta, an early-stage biotech company specialising in cell therapies that target cancers....
...The failure of one of Drexel’s biggest clients, the Executive Life Insurance Company, destroyed the retirement incomes of thousands of Americans....
...Paul Volcker, the Fed chairman at the time, chose pragmatism, organising a rescue with the central bank and the Federal Deposit Insurance Corporation working together....
...The court papers say that Yasuda Fire and Marine Insurance “recklessly, if not purposefully, ignored the provenance of Sunflowers that Christie’s published”....
...Until then, you can reach Sid and I at imani.moise@ft.com and sid.v@ft.com. Happy reading!...
...The suit was filed in federal court in Texas, though the parties wrangled over the venue....
...Two days after the Federal Deposit Insurance Corporation took control of the bank’s assets, the Treasury, Federal Reserve, and FDIC announced that depositors would have access to all of their money on Monday...
...However even if more investment is poured into the companies it’ll take time to fire up, so the UK is likely to lag other advanced economies, which are forecast to cut interest rates more quickly....
...In March, a federal judge rejected what could have been the largest class action lawsuit ever proposed....
...The pair served together as Marines before taking different paths — Winnacker is fire chief of the Moraga-Orinda Fire District, while Hasseltine is chief security officer at Xenon Partners, a software investment...
...It wouldn’t accept insurance or take money from pharmaceutical companies. And it would have its own medical advisory council as an alternative to the US Centers for Disease Control and Prevention....
...Let us know what fintech predictions you have for the rest of the year at imani.moise@ft.com and sid.v@ft.com....
...Over the past seven years, he has been under near-constant fire from disgruntled shareholders....
...An 1859 poster advertising the project compared its height favourably to St Paul’s in London, St Peter’s in Rome and the Great Pyramid in Egypt....
...MPs on how to fire up the economy....
...Municipal debt has long been a haven asset class, popular with long-term investors including pension funds and insurance companies....
...The matter is now before a federal appeals court....
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