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ICW launches E&S unit with hire of MSIG’s Estes
By Michael LoneyJune 20 - (The Insurer) - ICW Group Insurance Companies has hired MSIG's Tracey Estes as chief underwriting officer for its newly launched excess and surplus business ICW Specialty.The new unit is being launched through ICW’s E&S insurer VerTerra Insurance.Estes will join as ...Reuters
Fri, Jun 20
Tesla, Shanghai sign $557 million energy storage station deal, Yicai reports
BEIJING, June 20 (Reuters) - Tesla's TSLA.O first China grid-scale battery storage station using its megapack batteries will be located in Shanghai, local media Yicai reported on Friday.The deal involving an investment of 4 billion yuan ($556.8 million) was signed between the U.S. automaker, Chi...Reuters
Fri, Jun 20
Soccer-Botafogo and Inter Miami end European dominance at Club World Cup
By Fernando Kallas PHILADELPHIA, June 20 (Reuters) - Thirteen years of European dominance in intercontinental club football came to an end on Thursday as U.S. side Inter Miami defeated Porto 2-1 and Brazilians Botafogo beat Champions League winners Paris St Germain 1-0 at the revamped Club Wo...Reuters
Fri, Jun 20
Situation at Iran's Bushehr nuclear plant is 'normal', Russian official says
ST PETERSBURG, June 20 (Reuters) - The head of Russia's nuclear energy corporation, Alexei Likhachev, said on Friday that Russian specialists were still working at the Bushehr nuclear power plant in Iran and that the situation there was normal and under control.Likhachev said he hoped Russia'...Reuters
Fri, Jun 20
Thailand's economy teeters as political turmoil threatens recovery efforts
Political chaos threatens budget passage, economic stabilityHigh household debt, U.S. tariffs hinder economic growthWeakened government may affect U.S. trade talks, says analystStreet protests could impact tourism, a key economic driverBy Orathai Sriring, Thanadech Staporncharnchai BANGKOK, June ...Reuters
Fri, Jun 20
South Korea says SK and Amazon to invest $5 bln in country's biggest data centre
SEOUL, June 20 (Reuters) - South Korea's SK Group will invest around 7 trillion won ($5.11 billion) including $4 billion from Amazon Web Services, Amazon's cloud services provider, to build a data centre in the southern city of Ulsan, the Science Ministry said on Friday.The AI data centre, w...Reuters
Fri, Jun 20
SoftBank's Son pitches $1 trillion Arizona AI hub, Bloomberg News reports
June 20 (Reuters) - SoftBank Group 9984.T founder Masayoshi Son is envisaging setting up a $1 trillion industrial complex in Arizona that will build robots and artificial intelligence, Bloomberg News reported on Friday, citing people familiar with the matter.Son is seeking to team up with Taiwan Sem...Reuters
Fri, Jun 20
Exclusive: Marco Capital acquires R&Q Gamma
By Michael JonesJune 20 - (The Insurer) - Marco Capital Holdings has acquired R&Q Gamma for undisclosed terms, the legacy specialist is expected to announce later today.R&Q Gamma, formerly Royal London General Insurance Company, was established in 1983 and put into run-off in 1999.It was acq...Reuters
Fri, Jun 20
Moody’s upgrades AIG to A1 on enhanced profitability
By Michael LoneyJune 20 - (The Insurer) - Moody’s Ratings has upgraded the senior unsecured debt rating of American International Group to Baa1 from Baa2, and the insurance financial strength ratings of its major property casualty subsidiaries in the U.S., UK and Europe to A1 from A2.Moody’s has cha...Reuters
Fri, Jun 20
Eutelsat shares open up 6% after France gives it capital boost
PARIS, June 20 (Reuters) - Eutelsat shares opened up 6% on Friday after the French government announced it would become the satellite company's biggest shareholder following a 1.35 billion-euro ($1.56 billion) capital increase.The French finance ministry said the move would help the company, whi...Reuters
Fri, Jun 20
RPT-Iran's divided opposition senses its moment but activists remain wary of protests
Exiled opposition leaders hope for regime changeInside Iran activists are cautious on protests for nowDivisions may complicate any opposition movesBy Parisa Hafezi DUBAI, June 19 (Reuters) - Iran's fragmented opposition groups think their moment may be close at hand, but activists involved in...Reuters
Fri, Jun 20
Vatican-backed report seeks financial reform to avert decades of lost development
Debt crisis symptom of 'broken investment model'Interest costs for developing nations have nearly doubled Law change in London, New York needed to deter holdout creditorsReforms needed to enable developing world growthBy Libby George LONDON, June 20(Reuters) - A commission launched by the...Reuters
Fri, Jun 20
German car manufacturers incurred costs of half a billion euros in April due to tariffs, says VDA
BERLIN, June 20 (Reuters) - German car manufacturers are likely to have incurred costs of around half a billion euros in April due to import tariffs imposed by U.S. President Donald Trump, the head of the VDA auto industry lobby group said an interview published on Friday."We have roughly estima...Reuters
Fri, Jun 20
S&P upgrades Fairfax’s core (re)insurance units to AA-minus
By Michael LoneyJune 20 - (The Insurer) - S&P Global Ratings has raised its long-term issuer credit and financial strength ratings on Fairfax’s core (re)insurance operating subsidiaries to AA-minus from A-plus, citing “sustainable and very strong capitalisation”. The rating agency said on June ...Reuters
Fri, Jun 20
PRESS DIGEST - Wall Street Journal - June 20
June 20 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.- SpaceX’s Starship spacecraft exploded during a routine test, sending a fireball into the night sky and marking the latest setback in what h...Reuters
Fri, Jun 20
Israeli defence minister warns Hezbollah against joining conflict with Iran
June 20 (Reuters) - Israeli Defence Minister Israel Katz warned Lebanon's Hezbollah to exercise caution on Friday, saying Israel's patience with "terrorists" who threaten it had worn thin.The head of Iran-backed Hezbollah, Naim Qassem, said on Thursday that the Lebanese group would ...Reuters
Fri, Jun 20
Euro zone yields on track for a weekly drop, Middle East in focus
By Stefano Rebaudo June 20 (Reuters) - Euro zone government bond yields were on track for a weekly decline as the Israel-Iran air war entered its eighth day, with investors downplaying inflation concerns while awaiting clarity on a potential U.S. involvement in the conflict.President Donald Trump...Reuters
Fri, Jun 20
RPT--Countries evacuating citizens from Iran and Israel
June 20 (Reuters) - Countries around the world are taking measures to evacuate their citizens from Israel and Iran as the two nations enter the seventh day of their air war and airspace in the region remains closed. A week of Israeli air and missile strikes against its major rival has wiped out t...Reuters
Fri, Jun 20
Insured losses from Air India crash could reach $500 million
Preliminary insured loss estimates for Air India crash vary from $200 million to $500 millionExcess capacity limits insurers' ability to increase rates more than 10%Market requires capacity withdrawal for potential shift from buyers' marketBy Michael Jones June 20 - (The Insurer) - Airlin...Reuters
Fri, Jun 20
Japan's Skymark Airlines Inc: To Acquire Three Boeing 737-10 Aircraft
June 20 (Reuters) - Skymark Airlines Inc 9204.T:SKYMARK AIRLINES INC - TO ACQUIRE THREE BOEING 737-10 AIRCRAFTSKYMARK AIRLINES INC - CERTAIN AMOUNT TO BE DISCOUNTED FROM THE CATALOGUE PRICE, WHICH IS ABOUT 26.7 BILLION YEN PER AIRCRAFTSKYMARK AIRLINES INC - TOTAL PRICE ON ACQUIRING THE ASSET WILL BE...Reuters
Fri, Jun 20
