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Fire and hail push insurers to rethink climate change risks

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LONDON (Reuters) – By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burned both his tractor and the shipping container where he kept some tools. His insurer is set to pay out a sixth of his losses. A fireman puts out flames Read More

Trump and California go to war over clean cars

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WASHINGTON (Reuters) – U.S. President Donald Trump and the state of California went to war on Wednesday over who should set the standards in the United States for vehicle emissions and electric cars, foreshadowing a legal battle over environmental policy issues that will affect the auto industry and consumers. In a morning flurry of tweets, Read More

Apple says $14 billion EU tax order ‘defies reality and common sense’

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LUXEMBOURG (Reuters) – The European Union’s order to Apple (AAPL.O) to pay 13 billion euros ($14 billion) in back taxes “defies reality and common sense”, the U.S. firm said as the two sides sparred in a case key to the EU’s crackdown on sweetheart deals to multinationals. The iPhone maker is appealing to Europe’s second Read More

Vale misled public on dangerous dams, prompting Brazil probe: source

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RIO DE JANEIRO/BRASILIA/SAO PAULO (Reuters) – Faced with public outrage after its second mining dam collapse in four years killed at least 240 people in Brazil, Vale SA misrepresented what it had done to shut down its riskiest dams, a review of the company’s statements shows. The logo of the Brucutu mine owned by Brazilian Read More

U.S. banking regulator proposes easing post-crisis derivatives rules for big banks

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FILE PHOTO: A dragonfly is seen on a Wall Street sign in New York September 18, 2008. REUTERS/Eric Thayer WASHINGTON (Reuters) – A U.S. banking regulator Tuesday proposed easing a post-credit crisis rule on how much cash big banks should set aside to safeguard derivatives trades between affiliates, marking one of the biggest wins for Read More

Apple says $14 billion EU tax order ‘defies reality and common sense’

2 days ago DieselGasoil Comments Off on Apple says $14 billion EU tax order ‘defies reality and common sense’
LUXEMBOURG (Reuters) – The European Union’s order to Apple (AAPL.O) to pay 13 billion euros ($14 billion) in back taxes “defies reality and common sense”, the U.S. firm said as the two sides sparred in a case key to the EU’s crackdown on sweetheart deals to multinationals. The iPhone maker is appealing to Europe’s second Read More

Prudential subsidiaries to pay nearly $33 million to settle disclosure charges: SEC

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WASHINGTON (Reuters) – Two Prudential subsidiaries have agreed to pay nearly $33 million to settle charges they failed to disclose conflicts of interest and made misleading disclosures regarding 94 insurance-dedicated mutual funds they advised, the U.S. securities regulator said on Monday. The Securities and Exchange Commission (SEC) said it had censured AST Investment Services Inc Read More

U.S. charges Prudential subsidiaries for allegedly misleading 94 mutual funds

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WASHINGTON (Reuters) – The top U.S. securities regulator on Monday said it had charged AST Investment Services Inc. and PGIM Investments LLC, subsidiaries of Prudential, for failing to disclose conflicts of interest and making misleading disclosure to the boards for 94 insurance-dedicated mutual funds. The Securities and Exchange Commission said that the subsidiaries self-reported their Read More

UAE regulator not optimistic on Boeing 737 MAX return this year

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FILE PHOTO: The company logo for Boeing is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 11, 2019. REUTERS/Brendan McDermid/File Photo DUBAI (Reuters) – The head of the United Arab Emirates’ General Civil Aviation Authority said on Sunday he was not optimistic that the Read More

House panel wants Boeing CEO to allow employee interviews on 737 MAX crashes

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(In September 12 story, corrects name of European Union Aviation Safety Agency from European Aviation and Space Agency in paragraph 10) FILE PHOTO: Boeing Co Chief Executive Dennis Muilenburg in Chicago, Illinois, U.S., April 29, 2019. Jim Young/Pool via REUTERS/File Photo By David Shepardson WASHINGTON (Reuters) – Congress on Thursday asked Boeing Co’s chief executive Read More