Articles by William Mathis

Danish Wind Giant Finds Unique Solution for Cable Problem Affecting Offshore Farms

The world’s biggest developer of offshore wind farms has come up with a unique solution to a potentially expensive problem. Denmark’s Orsted A/S is working on a plan to send divers to the sea floor to place a cover over …

Parade of Probes Underway to Pin Blame for Britain’s Blackout

The lightning strike that triggered Britain’s biggest blackout in more than a decade has also spawned a flurry of investigations by groups ranging from the government to railway operators. National Grid Plc’s preliminary report published by the regulator Ofgem on …

UK’s Legal & General Is Divesting Exxon Shares Over Climate Change

One of Britain’s biggest fund managers started selling shares in Exxon Mobil Corp., saying America’s largest oil company isn’t doing enough to address climate change. Legal & General Investment Management, which oversees about $1.3 trillion and is one of Exxon’s …

Finnish Software Firm Basware Confirms Takeover Bid, Backed by Investors Including Ping An

Finnish software maker Basware confirmed the unsolicited takeover approach it received was from payment-technology startup Tradeshift Holdings Inc. The indicative proposal came from San Francisco-based Tradeshift, Basware said in a statement Tuesday in response to a Bloomberg News report. The …

Patisserie Holdings’ CFO Arrested as UK Fraud Office Probes Accounting Scandal

Patisserie Holdings Plc finance chief Chris Marsh was arrested as U.K. fraud prosecutors opened a probe into an accounting scandal that threatens to shutter the cake baker’s 200-plus stores. The police in Hertfordshire, England, said they had arrested a 44-year-old …

Trade Credit Insurance Could Get Boost from Trade War

Trade tensions sound like a great opportunity to underwriters of a little-known insurance product. U.S. President Donald Trump set off fears of a global trade war with tariffs on metals and an array of imports from China. As countries ratchet …

Beware ‘Tsunami’ Effect of Artificial Intelligence, Warns Allstate CEO Wilson

Artificial intelligence is coming for the service economy, according to Allstate Corp. Chief Executive Officer Tom Wilson. “It’s going to rip through this economy like a tsunami,” Wilson said Thursday in an interview on Bloomberg TV from Aspen, Colorado. Automation …

Autonomous Cars to Bring Shift But Not Big Decline in Insurance: Report

It turns out robots need insurance too. As driverless vehicles reduce car ownership in coming years, insurers may not face the Armageddon that had been predicted, new research shows. “We do not expect revenues for auto insurance companies to experience …