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☆ Living pollution-free is a ‘fundamental right,’ India’s top court says
▼ + stars: | 2024-10-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

NEW DELHI, India— Living in a pollution-free environment is a fundamental right, India’s Supreme Court said Wednesday as it urged authorities to address deteriorating air quality in the north of the country. Swiss group IQAir rated Delhi the world’s most polluted city in its live rankings. The Supreme Court pulled up the governments of both states for taking “selective action” against stubble burning, saying penal provisions were not being properly implemented. Recognizing this, the court on Wednesday directed the federal government and the governments of Delhi, Punjab, Haryana, Uttar Pradesh and the western state of Rajasthan to submit compliance reports. In Pakistan’s most populous province of Punjab, authorities have changed school timings and suspended outdoor activities because of pollution.

Persons: ”, Narendra, Marriyam Aurangzeb Organizations: Central Pollution Control Board, Supreme Locations: DELHI, India, Delhi, Swiss, Punjab, Haryana, Uttar Pradesh, Rajasthan, South Asia, Lahore, Pakistan’s Punjab

☆ Why is the Japanese yen hovering near three-month lows against the dollar
▼ + stars: | 2024-10-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

A queue of people forms outside a money changer (L) as people wait to buy and sell the Japanese yen against foreign currency, along a street in central Tokyo on April 29, 2024. In the past, weakness in the Japanese currency has been attributed to the difference between the U.S. and Japanese interest rates as lower rates tend to pressure currencies, while higher rates lift them up. Japan had negative rates for about eight years, keeping it's currency weak compared to the dollar. The Japanese yen is hovering near three-month lows against the U.S. dollar, after hitting 153.18 late Wednesday. "The annualised 1-month deposit rate for yen is +0.03%, while it is 4.76% for the U.S. dollar.

Persons: Alvin Tan, Homin Lee, Lombard Odier, Donald Trump, Lee, RBC's Tan, Hugh Chung Organizations: Federal, Bank of Japan, U.S, U.S ., Asia FX, RBC Capital Markets, CNBC Locations: Tokyo, Japan, Asia, Swiss, U.S

☆ Stratospheric, AI-enabled robotic cameras on balloons could help you get your insurance claim check faster
▼ + stars: | 2024-10-22 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

New technology, however, using drones, artificial intelligence and weather balloons aims to modernize and accelerate that process. Near Space Labs, a Brooklyn, New York-based startup, invented "Swifts," or stratospheric, AI-enabled robotic cameras that fly on weather balloons. The giant weather balloons fly twice as high as airplanes cruise. Insurance and reinsurance companies, like Swiss Re, are using Near Space to help them understand and price risk. In addition to Third Sphere, Near Space Labs is backed by Crosslink Capital, Wireframe Ventures, IAG Firemark Ventures, Toyota Ventures and Leadout Capital.

Persons: Helene, Milton, Rema Matevosyan, Matevosyan, Shaun Abrahamson, Lisa Rizzolo Organizations: Space Labs, Labs, Swifts, Insurance, Swiss, Crosslink, Wireframe Ventures, IAG Firemark Ventures, Toyota Ventures, Leadout, CNBC Locations: Brooklyn , New York

☆ Ukraine is making a new drone called Sting that flies faster than 100 mph to kill Russia's Iranian Shahed drones: report
▼ + stars: | 2024-10-21 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

AdvertisementUkrainian drone maker Wild Hornets is developing an interceptor designed to counter Russia's Shahed-136 loitering munitions, The Telegraph reported. Wild Hornets did not respond to a request for comment sent outside regular business hours by Business Insider. Russia announced in September that it was planning to increase drone production by 10 times, putting it at 1.4 million drones yearly. Ukraine, on the other hand, said it can now make 4 million drones per year. Its president, Volodymyr Zelenskyy, said in October that local defense firms were already contracted to build 1.5 million drones, but did not say what kind.

Persons: It's, —, Sting, it's, Volodymyr Zelenskyy Organizations: Telegraph, Sting, Service, Hornets, Ukrainian, Wild Hornets, Business Locations: Ukrainian, Iranian, Russia, Ukraine, Zala, Kyiv, Tehran, Moscow

☆ Bitcoin at 3-month high as Trump odds drive currencies
▼ + stars: | 2024-10-21 | by ( ) www.cnbc.com time to read: +3 min

Cryptocurrency bitcoin hit a three-month high in early Asia trading on Monday and the dollar looked set to extend its gains in markets counting down to the U.S. presidential election in two weeks. Bitcoin got a lift from Trump's improving prospects since his administration is seen as taking a softer line on cryptocurrency regulation. The clearest way to express the Trump tariff risk was to be long dollars versus the euro, Swiss franc and Mexican peso , he said. Brad Bechtel, global head of FX at Jefferies, also noted that rising real interest rates were helping the dollar along, particularly against those three currencies. "We expect this trend to continue straight into the election and if Trump wins, likely well after the election as well," Bechtel wrote.

Persons: Cryptocurrency bitcoin, Donald Trump, Bitcoin, Chris Weston, Pepperstone, Weston, Brad Bechtel, Bechtel Organizations: U.S, Trump, China, BTC, Swiss, FX, Jefferies Locations: Asia, U.S

☆ Watch maker Patek Philippe launches first new collection in 25 years
▼ + stars: | 2024-10-18 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +1 min

Storied Swiss watch maker Patek Philippe announced its first new collection in 25 years this week, dubbed the Cubitus line. The new collection comes at a time when luxury watch prices have largely stabilized, fueled by strong demand. Patek Philippe's new collection also includes new cufflinks, designed to match the watches with a white-gold frame that reflect the case's shape. Patek Philippe, founded in 1839, is often referred to as one of "The Holy Trinity" in watch making, along with Audemars Piguet and Vacheron Constantin. The brand's last new collection before the Cubitus line was back in 1999 when it released the Twenty~4 design.

Persons: Patek Philippe, it's, Audemars Piguet, Vacheron Constantin, Patek Locations: Swiss

☆ Israel's Sinwar video shows the chilling reach of battlefield drones
▼ + stars: | 2024-10-18 | by ( Matthew Loh | Mia Jankowicz | ) www.businessinsider.com time to read: +7 min

Only 13 years ago, the world learned of what were Muammar Gaddafi's last few moments through shaky video filmed on cellphones. Small drones are a critical feature of combat in Ukraine, where they've been used for battlefield observation and attack. The hovering quality of the Sinwar video indicates it was likely filmed by a quadcopter. AdvertisementThe astounding wealth of drone-fed intelligence, surveillance and reconnaissance has made more of the battlefield visible than ever before. Nonetheless, technological advances mean that drones watching the battlefield will be a ubiquitous feature of future wars, a looming threat to ground troops and fleeing leaders.

Persons: Israel, Yahya Sinwar's, —, Yahya Sinwar, Sinwar, Yahya Sinwar’s, GJGDlu7bie, Nadav Shoshani, Muammar Gaddafi's, Mauro Gilli, Gilli, they've, It's, Volodymyr Zelenskyy, Maria Berlinska, Guy Prives Organizations: Service, Swiss, ETH Zurich, Anadolu, Getty, Pentagon, IDF Locations: Libyan, It's, Ukraine, Russian, Moscow, Kursk, Israel

☆ UBS launches its experiential "House of Craft" campaign in New York as Credit Suisse integration continues
▼ + stars: | 2024-10-18 | by ( Julia Hood | ) www.businessinsider.com time to read: +6 min

UBS launched its global "House of Craft" initiative at an event in New York City in October. AdvertisementIn a SoHo townhouse in New York City, UBS launched its global "House of Craft" initiative, an experiential campaign that honors the tradition of craftsmanship. AdvertisementConvening around craftNew York City's legacy of fine craftsmanship made it the choice destination for UBS's first "House of Craft" event. James Miller, who said he collects micro-brand timepieces, wore a Henry Archer watch to the "House of Craft" event. "This is a brand campaign, but it's one very clearly associated with making sure more people are positively thinking about us," he said.

Persons: —, Carmelo Anthony, Daniel Dae Kim, Ginny Wright, Audemars Piguet, Jean, Claude Biver, John McDonald, McDonald, Sergio Ermotti, Ermotti, Prophet, James Miller, Henry Archer, Julia Hood Miller, Nathan Desloover, Todd Snyder, Julia Hood, I've, Desloover, I'm Organizations: UBS, Credit Suisse, Service, NBA, Audemars, TAG, Suisse, Swiss, Publicis Groupe, Suisse hasn't, Horological Society of New Locations: New York City, Swiss, Americas, UBS's, Asia, Latin America, New York, York, Horological Society of New York, Detroit

☆ The curious hunt for the company behind Trump watches
▼ + stars: | 2024-10-17 | by ( Steve Contorno | Scott Glover | ) edition.cnn.com time to read: +14 min

Dozens of deals over the years have resulted in products ranging from Trump Vodka and Trump Steaks to giant skyscrapers emblazoned with his surname. “Would make a great Christmas Gift.”In this still photo from a promotional video, former President Donald Trump holds a watch branded with the Trump name. The Trump Watches website is, in fact, peppered with disclaimers. “We specialize in creating anonymous LLCs to shield your personal information from public eyes,” the website for Wyoming LLC Attorney says. Wyoming LLC Attorney can help launch a new LLC within 24 hours, it advertises.

Persons: Wyoming CNN —, Donald Trump, ”, Trump, “, hasn’t, couldn’t, TheBestHoneyOnEarth, Vladimir Dmitriev, Dmitriev, “ We’ve, ” Andrew Pierce, Carol Mendelsohn, Pierce’s, Mark Pierce, Pierce, ” Trump, —, “ You’re, Oisín, Tim Mosso, “ It’s, ” Mosso, Trump’s, Donald J, TheBestWatchesOnEarth, it’s, ” Pierce Organizations: Wyoming CNN, CNN, Trump, TheBestWatchesOnEarth LLC, Republican, LLC, and Drug Administration, FDA, White, Trump Organization, TheBestWatchesOnEarth, Trump Vodka, NFT International, 45footwear, Mar, YouTube, The Trump Organization, Cloud, Law Locations: Sheridan, Wyoming, Montana, Washington, DC, Montenegro, “, Sheridan , Wyoming, Puerto Rico, Manhattan, Cheyenne , Wyoming, Philadelphia, TheBestWatchesonEarth, United States

☆ Police in France and Italy bust gang that sold bottles of fake vintage wine for $16,000 apiece
▼ + stars: | 2024-10-16 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —Six people have been arrested as part of an investigation into a wine fraud ring that allegedly sold fake French wine for up to €15,000 ($16,300) per bottle. Police in Italy searched 14 properties and seized large amounts of wine, wine bottles, counterfeit stickers from top French vineyards and machines used to recap bottles, according to a statement from European law enforcement agency Europol, published Tuesday. “The surge in demand for fine wine in the 21st century… has motivated fraudsters,” George told CNN. “Better training and better knowledge of what bottles of fine wine – and especially old bottles of fine wine – really look like would be useful,” said George. Bolgheri Sassicaia red wine comes from an area on the coast of Tuscany and has become one of Italy’s best-known fine wines since it appeared on the market in the 1970s.

Persons: ” Europol, Europol, Prosecutors, Stuart George, ” George, ” Fraudsters, ”, George, “, Petrus, Finanza Organizations: CNN, Police, Russian, French Gendarmerie, Swiss Federal Police, Arden Fine Wines, Reuters, Guardia Locations: Italy, Italian, Russian, French, Dijon, London, Tuscany, Sicily, Milan, Bulgaria

☆ My husband and I are full-time housesitters for people around the world. We don't have a permanent home and have no housing costs.
▼ + stars: | 2024-10-16 | by ( Amy Hornsby | ) www.businessinsider.com time to read: +5 min

Since our housing costs are basically zero, we love this lifestyle and have no plans to stop. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHousesitting also lets us travel while working remotely, allowing us to find a home on the road and save money on housing. I got an in-office job, rented a house, and started looking at visa options for my husband to stay. Many people don't understand how we live and were perplexed when we gave up a more stable choice for life on the road.

Persons: —, I've, Housesitting, It's, We've, COVID Organizations: Service, Facebook, Sheffield Locations: South Korea, Poland, England, France, Swiss

☆ U.N. peacekeepers in Lebanon will not give in to Israeli demand to 'get out of harm's way'
▼ + stars: | 2024-10-15 | by ( Freddie Clayton | Freddie Clayton Is A Freelance Journalist Based In London. | ) www.nbcnews.com time to read: +4 min

His comments came after the U.N. Security Council expressed “strong concern” following the attacks in a statement issued after emergency closed consultations on Lebanon. Although it did not name either Israel, Lebanon or Hezbollah, the statement which was read by Swiss U.N. Vehicles from the UNFIL force patrol in Marjayoun in southern Lebanon on Saturday. In the backdrop of its invasion of Lebanon, Israel is also weighing up its response to the missile barrage launched by Iran earlier this month, sparking fears that a massive retaliation could stoke a wider regional conflict. Satellite imagery shows what appears to be Israeli tanks surrounding a UNIFIL base near Maroun Al Ras in southern Lebanon earlier this month.

Persons: Jean, Pierre Lacroix, Antonio Guterres, Lacroix, Pascale Baeriswyl, Israel, Benjamin Netanyahu, ”, Andrea Tenenti, Joe Biden’s, Netanyahu, Joe Biden Organizations: United Nations, United Nations Interim Force, . Security, U.N, UNIFIL, Vehicles, Saturday, AFP, Getty, Israel, stoke, Planet, The Washington Post Locations: Lebanon, Israel, “, New York, Swiss, Iranian, Gaza, Marjayoun, UNIFIL, Iran, Maroun Al Ras, The Washington, United States

☆ In the competitive world of pharma, companies need to focus on worker well-being to retain top talent, says Ferring's HR exec
▼ + stars: | 2024-10-15 | by ( Julia Hood | ) www.businessinsider.com time to read: +7 min

She said that Ferring has grown more intentional about focusing on worker well-being, which is particularly important for the highly competitive field of healthcare. What are the benefits for companies focused on worker well-being? We've defined well-being in a holistic way, so it's not just about physical well-being; it's also about mental well-being and financial well-being. What advice do you have for other companies that are just getting started thinking about DEI and worker well-being initiatives? What policies demonstrate your focus on worker well-being?

Persons: —, Johnson, JP Morgan, Ferring, We've, it's, I've, we've, you've Organizations: Ferring Pharmaceuticals, Service, gastroenterology, Johnson, American Express, Pharma, pharma Locations: Swiss, Switzerland

☆ SuperLimbs: Wearable robotic limbs could help astronauts recover from falls
▼ + stars: | 2024-10-14 | by ( Amy Gunia | ) edition.cnn.com time to read: +11 min

That includes researchers at the Massachusetts Institute of Technology (MIT), who are developing a set of wearable robotic limbs to help astronauts recover from falls. When the wearer falls over, an extra pair of limbs can extend out to provide leverage to help them stand, conserving energy for other tasks. The study found that falls were more common when, like Duke, astronauts were collecting samples or using tools – tasks that Artemis astronauts are likely to undertake. Kim Shiflett/NASA NASA astronaut Eric Boe wears Boeing's new spacesuit designed for astronauts who will fly on the CST-100 Starliner. Ballesteros plans to spend the next few years of his PhD using a “Swiss Army Knife technique” to turn SuperLimbs into a system for astronauts that can “address different important use cases, but all be one unified design.”SuperLimbs could help astronauts recover from falls, move efficiently, and do work.

Persons: haven’t, Artemis, Charlie Duke, Duke, Walter M, Schirra Jr, Donald K, Slayton, John H, Glenn Jr, Scott Carpenter, Alan B, Shepard Jr, Virgil I, Grissom, Gordon Cooper Jr, John W, Michael Collins, Edwin E, Aldrin Jr, Buzz Aldrin, Neil A, Armstrong, Aldrin, Joe Engle, Richard Truly, John Young, Bruce McCandless, McCandless, Robert L, Stewart, Michael J, McCulley, Franklin R, Chang, Diaz, Ellen S, Baker, Shannon W, Donald E, Williams, Michael Fincke, Yury Lonchakov, Kennedy, Center's Neil A, Jessica Watkins, Bob Hines, Kjell Lindgren, Samantha Cristoforetti, Kim Shiflett, Eric Boe, Boeing Dustin Gohmert, NASA's, Joel Kowsky, NASA Kristine Davis, SuperLimbs, Harry Asada, Erik Ballesteros, Ballesteros, it’ll, ”, Jonathan Clark, ” Ballesteros, Ana Diaz Artiles, Kalind Carpenter, Preston Rogers, Mirza Samnani Organizations: CNN, Massachusetts Institute of Technology, MIT, University of Michigan, National Aeronautics and Space Administration, NASA, Mercury, Command, NASA Space Shuttle, Challenger, NASA's, NASA NASA, Russian Sokol, International Space, SpaceX, Armstrong Operations, Boeing, Orion, Space, Space Center, Extravehicular Mobility, UPI, Jet Propulsion, SuperLimbs, Neurology, Space Medicine, Baylor College of Medicine, Texas, Swiss Locations: Tranquility, Russian, Washington ,, Washington, Japan, Mars . China

☆ Russia jails French researcher Vinatier for three years in ‘foreign agent’ case
▼ + stars: | 2024-10-14 | by ( ) edition.cnn.com time to read: +4 min

Moscow Reuters —French researcher Laurent Vinatier was found guilty by a Moscow court on Monday of breaking Russia’s “foreign agent” laws and sentenced to three years in prison. President Emmanuel Macron has denied that Vinatier worked for the French state and has described his arrest as part of a misinformation campaign by Moscow. “The legislation on ‘foreign agents’ contributes to a systematic violation of fundamental freedoms in Russia, such as freedom of association, freedom of opinion and freedom of expression,” France’s foreign ministry said. “French authorities remain fully mobilized to provide assistance (to Vinatier),” the ministry added. I lived a Russian life and still, even the last four months, I have been living in a Russian atmosphere,” he said, referring to the period since his arrest.

Persons: Laurent Vinatier, Vinatier, Alexander Pushkin, intently, RIA, Emmanuel Macron, “, ”, Pavel Durov Organizations: Moscow Reuters —, Soviet Union, Centre, Humanitarian, Reuters, Independent Locations: Moscow, Vinatier, Ukraine, Russia, Russian, State, France, Swiss

☆ Jannik Sinner makes Novak Djokovic wait for 100th career title with victory in Shanghai Masters final
▼ + stars: | 2024-10-13 | by ( Matias Grez | ) edition.cnn.com time to read: +2 min

CNN —Jannik Sinner clinched his seventh title of the season with a straight sets victory over Novak Djokovic in the final of the Shanghai Masters on Sunday. 1 spot with his semifinal win over Tomas Machac, defeated Djokovic 7-6 (4) 6-3 to pick up the fourth Masters 1000 title of his career and third of 2024. “It was a very tough match, obviously, playing against Novak is one of the toughest challenges we have,” Sinner said after the match, per the ATP. Sunday’s defeat was the first of Djokovic’s career in the final of the Shanghai Masters, having previously held a perfect 4-0 record. Sinner is the first player to beat Djokovic three times in a row since 2013.

Persons: CNN —, Novak Djokovic, Tomas Machac, Djokovic, Jimmy Connors, Roger Federer, Andy Murray, Novak, Sinner, ”, Rafael Nadal, Andy Wong, he’d, “ Organizations: CNN, Shanghai Masters, Djokovic, AP, Swiss, Paris Masters, ATP Locations: Turin, Italy

☆ I went to a longevity conference for the ultra-rich. Here's how they're planning to cheat death.
▼ + stars: | 2024-10-11 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +8 min

AdvertisementThe small Swiss town of Gstaad, nestled in the Bernese Alps, looks like a setting ripe for a Sound of Music-inspired fairytale. Longevity Investors Conference/David BiedertThis is where longevity seekers come each fall for an intimate conference connecting investors to entrepreneurs and scientists. AdvertisementYes, there is still some Swiss cheese, wine, and desserts on offer at the Longevity Investor's Conference for those who wish to indulge. Longevity Investors Conference/David BiedertInvestment is flowing into early-stage longevity companies that are bringing tests and products to market. Longevity Investors Conference/David BiedertEquipped with Starlink satellite internet, the boat is designed for "floating coworking."

Persons: —, David Biedert, Moritz, Marc Bernegger, Longevity.Technology, who've, Bryan Johnson, Nir Barzilai, Alex Colville, Emil Kendziorra, Tobias Reichmuth, rapamycin, berberine, nature's, Reichmuth, David Furman, who'd, Julie Andrews, Madonna, Valentino Organizations: Business, Service, Longevity, Conference, Academy for Health, David, Bold, Michelin Locations: Switzerland, Gstaad, Bernese, St, Singapore, Tel Aviv, Age1, San Francisco, Antarctica, Sardinia, Italy, Okinawa, Japan, Zurich

☆ Hurricane Milton might cost insurers up to $50 billion — but it could have been much worse, analysts said
▼ + stars: | 2024-10-11 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +4 min

Hurricane Milton's insured losses could cost between $30 billion and $50 billion, said analysts. AdvertisementHurricane Milton stormed Florida on Wednesday, leaving an estimated $30 billion to $50 billion of insured losses, according to analysts from Fitch Ratings in a Thursday note. Milton's insured losses could range from $30 billion to $50 billion, according to Fitch, making it the largest since Hurricane Ian in 2022, which caused $60 billion in damages. According to a September report by Moody's Analytics, Hurricane Helene's insured losses were between $20 billion and $34 billion. Fitch analysts said local insurers might face insufficient reinsurance coverage to handle the losses and drive up premium rates.

Persons: —, Hurricane Milton, Milton, Alejandro Mayorkas, Fitch, Ian, Morningstar DBRS, Jefferies, Ron DeSantis, Helene Organizations: Service, Hurricane, Fitch, US Homeland, White, Morningstar, Reuters, Analytics, National Hurricane Center, Gov, Moody's Analytics, P, Global, Swiss RE Locations: Florida, Tampa, Swiss, Fitch

☆ Rich people are obsessed with longevity. Luxury hotels are cashing in by charging guests up to $40,000 for IV drips and MRIs before they hit the pool.
▼ + stars: | 2024-10-11 | by ( Kim Schewitz | ) www.businessinsider.com time to read: +5 min

Luxury hotels are offering guests longevity packages that can cost tens of thousands of dollars. AdvertisementFrom offering guests IV drips for hangovers to personalized nutrition programs and full-body MRIs, luxury hotels are upping their wellness game — and wealthy Americans are ready for it. "It's astounding the speed in which a new focus on longevity is rewriting the wellness market," she said. AdvertisementThe global wellness market — which encompasses beauty, healthy eating, spas, wellness tourism, personalized medicine, and more — was valued at $5.6 trillion in 2022, up from $3.4 trillion in 2013, according to the Global Wellness Institute. Luxury hotels want to cash in on the longevity trendBlink and you'll miss an announcement for a new longevity-themed program.

Persons: —, Bryan Johnson, Beth McGroarty, Mark Hyman, Tony Robbins, Sam Nazarian, Robbins, Nazarian, COVID Organizations: Service, Global Wellness Institute, Consulting, Clinique, Next, Bloomberg, Times Locations: Clinique La, Swiss, Dubai, St Kitts, sbe, London

☆ Why it’s OK to crave the taste of home when you travel
▼ + stars: | 2024-10-10 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +12 min

Enter, the American Bar. But, like the patrons of the American Bar before us, seeking out home comforts when abroad is still something we all do. The study was based on interviews with 330 people in the US, all questioned on how likely they’d be to try local foods when traveling. We learn to associate food with comfort – hence the term ‘comfort food,’” Brewer says. The American Bar at the Savoy has been a London hotspot since the late 1800s.

Persons: Richard D’Oyly Carte, Ernest Hemingway, Marilyn Monroe, “, ”, Andrea Di Chiara, couldn’t, Coke, Maggie Wong, Angel Gonzalez, ” Gonzalez, Judson Brewer, Brewer, Richard A, Brooks, ’ ” Brewer, Bridget Jones, Jungfraujoch, Kathrin Naegeli, Gonzalez, JACK HARDY, tellingly, Gerald Quadros, there’s, ” Brewer, we’re, ‘ I’d, ’ Organizations: CNN, American Bar, American, Future Market, Yorkshire teabags, California State University, Monterey Bay, Brown University, Getty, Jungfrau Railways, Noodle, Savoy, Langham Hotel, Random Locations: United States, Savoy, London, Hong Kong, Paris, Monterey, AFP, Europe, Swiss, Zurich, Denbighshire, Italy

☆ Catastrophe bond investors unlikely to be dealt massive losses as Florida dodges Milton's worst-case scenario
▼ + stars: | 2024-10-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Hurricane Milton's impact on Florida won't cause major losses for catastrophe bond investors, portfolio managers say. Insurance companies still face significant losses, but cat bond investors aren't eyeing the worst-case scenario. AdvertisementThe impact of Hurricane Milton on Florida is unlikely to trigger massive losses for catastrophe bond investors. The losses for cat bond investors, therefore, might only be in the low-single digits. This will drive an increase in risk premiums, leading to higher return expectations for cat bond investors moving forward," Steiger said.

Persons: aren't, —, Helene, Milton, Chin Liu, Tanja Wrosch, That's, Florian Steiger, Steiger Organizations: Insurance, Service, Investors, Twelve, Bloomberg, Icosa, Progressive, Allstate, Chubb Limited, Swiss Locations: Florida, Hurricane Milton, Tampa, Milton

☆ Ripple launches crypto storage services for banks in bid to diversify
▼ + stars: | 2024-10-10 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

U.S. blockchain startup Ripple made a major foray into crypto custody on Thursday, launching new services aimed at helping banks and financial technology firms to store digital assets on behalf of clients. The crypto custody market is forecast to reach at least $16 trillion by 2030, according to the Boston Consulting Group. Ripple said that custody is one of the fastest-growing areas for the startup, with Ripple Custody posting customer growth of over 250% year-over-year growth this year and operating in seven countries. Last year, Ripple acquired Metaco, a firm that helps other entities store and manage their crypto, in a bid to boost its nascent crypto custody business. The company this year also acquired Standard Custody & Trust Company, another crypto custody firm, to further bolster its efforts.

Persons: Ripple, Aaron Slettehaugh Organizations: CNBC, Boston Consulting, HSBC, BBVA, Societe Generale, DBS, XRP, Trust Company, U.S . Securities, Exchange Commission, SEC Locations: San Francisco, Swiss

☆ Europe's richest person is about to buy a soccer club with Paris FC deal
▼ + stars: | 2024-10-10 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

Bernard Arnault's family is set to become a majority shareholder in Paris FC. AdvertisementBernard Arnault's family is set to invest in Paris FC football club alongside Red Bull as the billionaire LVMH CEO further embraces the world of sport and its lucrative sponsorship opportunities. Red Bull will acquire a 15% stake. "LVMH operates a global business and needs to find global audiences and global languages," Luca Solca, a senior analyst at Bernstein covering global luxury goods, told Business Insider. LVMH and Red Bull did not immediately respond to a request for comment from Business Insider.

Persons: Bernard Arnault's, LVMH, —, Red Bull, Pierre Ferracci's, Arnault, Louis Vuitton, Moët Hennessy, Luca Solca, Bernstein Organizations: Paris FC, Rolex, Service, Paris FC football, Bloomberg, Ligue, TAG, Olympic, Paralympic Games, Business Locations: Paris, LVMH, Swiss

☆ Owners of 'catastrophe bonds' are staring down big losses as Hurricane Milton barrels toward Florida
▼ + stars: | 2024-10-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Hurricane Milton may cause major losses for catastrophe bond investors. AdvertisementThe back-to-back barrage of Hurricanes Helene and Milton could trigger big losses for investors in catastrophe bonds. However, on the other hand, a strong hurricane can trigger various clauses within catastrophe bonds, resulting in big losses for investors. AdvertisementHowever, according to RBC, higher reinsurance rates implemented following Hurricane Ian could soften the blow for cat bond investors, depending on the severity of Hurricane Milton. The potential for massive damage caused by Hurricane Milton, which is considered to be a once-in-a-generation event, is also dragging down global reinsurer stocks.

Persons: Milton, —, Hurricanes Helene, Hurricane Ian, Hurricane Milton, Helene, Hurricane Organizations: Service, Hurricanes, Investors, Swiss Re, Hurricane, Jefferies, RBC, Cat, Swiss Locations: Florida, Hurricane, Artemis, Hurricane Milton, North Carolina, Munich

☆ Five Russian climbers die on Nepal’s Dhaulagiri mountain
▼ + stars: | 2024-10-08 | by ( Anna Chernova | ) edition.cnn.com time to read: +2 min

CNN —Five members of a Russian expedition who went missing while attempting to climb Mount Dhaulagiri have been found dead, Russia’s embassy in Nepal told CNN on Tuesday. Initial investigations suggested the group of Russian mountaineers died “as a result of falling down a slope,” the embassy said. Dhaulagiri – which translates from Sanskrit to mean “White Mountain” - is the world’s seventh-highest peak, standing 8,167 meters (26,795 ft) above sea level, in the Himalayas in central Nepal. The fatality rate of Dhaulagiri is slightly more than 16%, making it one of the most dangerous mountains to climb. The Russian Mountaineering Federation told CNN that the trip was organized by a private organization.

Persons: ” Organizations: CNN, Russian Mountaineering Federation, RIA Novosti, Leningrad Region Mountaineering Federation, Russian Ministry of Foreign Affairs Locations: Nepal, Swiss, Austrian, Russia, Leningrad

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