International News

France Fines Google $57M for Breaching EU’s Data Privacy Rules Under GDPR

France’s data protection watchdog fined Alphabet’s Google 50 million euros ($57 million) on Monday [Jan. 21] for breaching European Union online privacy rules, the biggest such penalty levied against a U.S. tech giant. The French regulator said the world’s biggest …

Ship in Black Sea Fire Was Denied Port Entry over U.S. Sanctions Risk: Reuters

Two ships ablaze in the Black Sea region, leaving at least 10 crew dead, caught fire while transferring fuel mid-sea after one vessel was barred from using its usual port in southern Russia due to U.S. sanctions risk, two sources …

Volvo Recalls 200,000 Cars to Fix Potential Fuel Leakage Problem

Volvo Cars, which is owned by China’s Zhejiang Geely Holding Group, is voluntarily recalling about 200,000 cars after it found an engineering issue that could potentially cause fuel leakage in the engine compartment over time. The group said its probe …

Danske Money Laundering Scandal Damages Denmark’s Reputation: Regulator

Denmark’s status as one of the world’s least corrupt places has been undermined by the money laundering scandal engulfing its biggest bank, according to the country’s financial regulator. In a report examining risks facing Danish banks, the Financial Supervisory Authority …

Accounting Fraud Pushes UK’s Patisserie Valerie into Insolvency

U.K. entrepreneur Luke Johnson’s efforts to save Patisserie Valerie failed as an accounting scandal pushed the bakery chain’s parent into insolvency, threatening as many as 2,800 jobs on Britain’s beleaguered shopping streets. Patisserie Holdings Plc appointed KPMG as administrator after …

Commodities Broker Files $284M Suit Alleging Metals Fraud – in Echo of Natixis/Marex Case

Broker ED&F Man has filed a $284 million lawsuit against two Hong Kong companies, alleging that they knowingly provided fraudulent warehouse receipts for nickel stored in Asia, court documents show. The two Hong Kong firms, Come Harvest Holdings Ltd (CHH) …

Warming Oceans Cause Krill to Shift Closer to Antarctica: Scientists

Krill are shifting south towards Antarctica as the oceans warm, disrupting stocks that are eaten by penguins and whales and caught by industrial trawlers, scientists said on Monday. Main populations of the shrimp-like crustaceans, which grow to 6.5 cm (2.5 …

Drone Travel Chaos at Gatwick Airport Cost EasyJet Nearly $20 Million

EasyJet lost 15 million pounds ($19 million) during 36 hours of travel chaos sparked by drones flying into London’s Gatwick Airport in December, the budget airline said on Tuesday, adding it should serve as a “wake-up call” to airports. The …

BHSI Offers Transactional Liability Cover in UK & Europe, Appoints Martin from Enstar

Berkshire Hathaway Specialty Insurance (BHSI) announced it is expanding its North American Transactional Liability Insurance business into the UK and Europe and has appointed Ed Martin as head of Transactional Liability, UK and Europe, based in London. “As the need …

Legacy Acquirer DARAG Buys Italian Motor Business from DONAU Versicherung

Legacy Acquirer DARAG Group Ltd. announced it has agreed to purchase a portfolio of Italian non-life business, consisting primarily of motor third party liability from DONAU Versicherung AG. Financial details of the transaction, which is subject to approval by the …

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