Thomas Nuernberger is preparing for tougher times. For the past seven years, the 55-year-old has run the Chinese unit of fan and motor maker ebm-papst, and business has been good. But, as tensions simmer between Berlin and Beijing, ebm-papst is …
Banks in Europe will need to adjust the risk assessments they conduct of their clients to reflect new ESG requirements enforced by their watchdog. In a world first, the European Banking Authority is revising the framework that sets industrywide capital …
The hack of the MOVEit file transfer platform, developed by Progress Software and used by businesses of all sizes, serves as a reminder of the potential vulnerabilities faced by third party vendors. In this June 2023 hack, attackers exploited a …
Low water levels after recent dry weather are preventing cargo vessels from sailing fully loaded on the Rhine river in Germany with surcharges added to the usual freight rates, commodity traders said on Thursday. Low water is hampering shipping on …
Jet engine maker CFM International said on Wednesday the number of engines suspected of containing falsely documented parts from a UK distributor had risen to 126, including 16 inside its own workshops after it inadvertently bought them indirectly. CFM, owned …
Loadsure, the London-based insurtech and managing general agent, has partnered with WeatherOptics, a leading weather intelligence platform, with the aim of bringing weather intelligence into its risk calculations. Loadsure directly addresses the global freight underinsurance crisis with data powered, AI-priced, …
Jet engine maker CFM International said on Wednesday thousands of engine components may have been sold with forged paperwork by a British distributor, as the fallout from a probe into falsely certified parts reached London’s High Court. Matthew Reeve, a …
Virgin Australia Airlines Pty found a second suspected unapproved plane part from obscure UK supplier AOG Technics Ltd., as the industry continues to hunt down bogus components that have spread across the global fleet. The Australian airline discovered a seal …
United Airlines Holdings Inc. discovered dubious parts in two aircraft engines, adding to the list of carriers worldwide that have found bogus components from supplier AOG Technics Ltd. The parts were discovered in a single engine on each of two …
European aviation regulators have determined that an obscure London-based company supplied bogus parts for repairs of jet engines that power many older-generation Airbus SE A320 and Boeing Co. 737 planes. Manufacturing partners General Electric Co. and Safran SA have been …
