Hackers targeting Australia’s major pension funds in a series of coordinated attacks have stolen savings from some members at the biggest fund, according to a source with knowledge of the matter, and compromised more than 20,000 accounts. National Cyber Security Coordinator Michelle McGuinness said in a statement she was aware of “cyber criminals” targeting accounts…
Italy’s biggest insurer Generali intends to heed advice from the government when Rome starts reviewing a planned asset management tie-up with France’s BPCE, CEO Philippe Donnet said in a newspaper interview on Friday. Generali in January signed a non-binding accord with French bank BPCE to combine their respective units – Generali Investments and Natixis Investment…
A U.S. judge said several companies including Walmart, Beech-Nut and Gerber must face a nationwide lawsuit claiming that toxic heavy metals contaminated their baby food, causing brain and neurodevelopmental damage to children who ate it. In a decision on Wednesday, U.S. District Judge Jacqueline Scott Corley said parents can try to prove that defective manufacturing,…
Texas, the nation’s top trading state, is facing a weakening economic outlook as the Trump administration’s sweeping trade and immigration policies fuel worries among businesses about higher costs, reduced demand and labor shortages, according to the Federal Reserve Bank of Dallas. Even before President Donald Trump sent shockwaves around the world on Wednesday with the…
Microsoft Corp. has pulled back on data center projects around the world, suggesting the company is taking a harder look at its plans to build the server farms powering artificial intelligence and the cloud. The software company has recently halted talks for, or delayed development of, sites in Indonesia, the UK, Australia, Illinois, North Dakota…
A report published this week by a Washington, D.C.-based think tank ranks Louisiana as the worst state for social mobility, and links the state’s lawsuit abuse climate as a factor for why many residents never get ahead. Archbridge Institute published the report,”Building On Momentum: Louisiana’s Path To Mobility,” with an index that ranks where states…
Risk digitization was cited as the primary technology priority for revenue growth in a recent study from insurtech Cytora. Cytora surveyed 200 senior leaders from global insurance firms and found that 76% of respondents saw risk digitization (encompassing new business, renewals, claims and mid-term adjustments) as the major technology priority that their organization was likely…
President Donald Trump’s crackdown on diversity, equity and inclusion helped prompt a plunge in shareholder resolutions from progressive investors that typically push companies on social reform. Motions filed by groups in favor of environmental, social and governance policies dropped 34% from a year ago to 355 ahead of this year’s annual meeting season, according to…
A fire burned down a cat shelter in suburban New York, killing its founder and more than 100 of the felines he rescued and sparking a rescue operation for dozens of cats still roaming the destroyed property. As many as 150 cats are believed to have survived Monday’s blaze at Happy Cat Sanctuary on Long…
BOSTON (AP) — A box truck crashed into a building Tuesday afternoon in Boston’s Chinatown neighborhood and hit several pedestrians before flipping onto its side, city officials said. The driver and five others were injured in what authorities said appears to have been an accident. “At least at this preliminary juncture, we don’t have any…