Business and Economy

Business and Economy Latest News

As climate catastrophes rise, reinsurers reduce risks
As climate catastrophes rise, reinsurers reduce risks
by  AFP

Natural disasters are now happening so frequently that reinsurers -- the firms that sell insurance to insurance companies -- are scaling back their exposure to such risks. Given the current circumstances, insurers may have little choice than increase their rates or in turn reduce the risks that they cover, which is already happening in certain countries.

UBS's Credit Suisse takeover, 'deal of the century'?
UBS's Credit Suisse takeover, 'deal of the century'?
by  AFP

Did banking giant UBS make "the deal of the century" when it bought one of the world's biggest banks for a pittance as it teetered on the edge of the abyss? - 'Godsend' - "UBS has pulled off the deal of the century," Switzerland's Socialist Party said, maintaining the "rescue" was more of a "godsend", allowing it to snatch up a bank at a dramatically reduced rate.

Economy and management blamed for demise of UK retailer Wilko
Economy and management blamed for demise of UK retailer Wilko
by  AFP

The imminent demise of household goods seller Wilko highlights the challenges UK retailers currently face amid decades-high inflation and anaemic economic growth, but experts argue it also stems from bad management. Lisa Wilkinson, one of the founders' heirs and one of the group's former managers, has argued that not taking dividends would only have given the company a few months' reprieve.

Energy

Money

Industry

Technology

Economy