UK moves closer to US-style class actions 

Millions of UK consumers are currently embroiled in Britain’s biggest ever “class action” lawsuit — even if they don’t yet realise it. Walter Merricks, the former financial ombudsman, is representing 46.2mn people in a £10bn lawsuit against payments company Mastercard, a case that is testing new ground in the English legal system. Merricks claims that … Read more

‘Closer to sustainability’: D&O insurers now competing for business – Daily – Insurance News

The loss-making directors’ and officers’ (D&O) market has finally turned a corner, after rates peaked late last year as insurers adjusted prices in a bid to achieve profitability, broker Aon says in a second quarter update. The combined operating ratio fell slightly below 100% – for the first time in many years – and the … Read more

Germany moves closer to gas rationing over Russian disruption

Germany took a step closer to rationing gas after a drastic drop in supplies from Russia, saying Moscow’s decision to weaponise its energy exports had plunged Europe’s largest economy into a “gas crisis”. Berlin triggered the second stage of its national gas emergency plan, nine days after Russia reduced gas supply through the Nord Stream … Read more

Big Changes to 401(k) Retirement Plans Get Closer With Senate Vote

Americans could wait longer to start emptying retirement accounts and face fewer restrictions on emergency withdrawals under a bill advanced unanimously Wednesday by the Senate Finance Committee.  The bipartisan bill is broadly similar to a measure passed by the House on a 414-5 vote in March, though it contains larger retirement-savings subsidies for low-income and … Read more

LIVE news updates: Ukraine one step closer to EU membership, says report

Live news updates: The European Commission recommended that Ukraine be granted candidate status in a symbolic step on the long path to become members of the European Union, according to two people familiar with the matter. The EU’s executive arm approved it Friday with conditions that Kyiv will have to meet … Read more

Live news: US lets Russia debt waiver expire pushing Moscow closer to default

Investors dumped stocks on Tuesday and betted on less aggressive policy from the US Federal Reserve, after comments from social media group Snap and disappointing economic data fanned concerns that growth in the country was poised to slow. The Nasdaq Composite, which is weighted towards big US tech companies, fell 2.3 per cent on Tuesday. … Read more

EU oil embargo ‘in days’ as Ukraine isolation drives Russia closer to China By Reuters

3/3 © Reuters. Local women walk along a street while Ukrainian servicemen patrol an area, as Russia’s attack on Ukraine continues, in the town of Kurakhove, in Donetsk region, Ukraine May 20, 2022. Picture taken May 20, 2022. REUTERS/Anna Kudriavtseva 2/3 By Oleksandr Kozhukhar and Hans-Edzard Busemann LVIV, Ukraine/BERLIN (Reuters) – The European Union will … Read more

EU oil embargo ‘in days’ as Ukraine isolation drives Russia closer to China

Breadcrumb Trail Links PMN Business Author of the article: Reuters Oleksandr Kozhukhar and Hans-Edzard Busemann Article content LVIV — The European Union will likely agree an embargo on Russian oil imports “within days,” according to its biggest member Germany, as Moscow said it saw its economic ties growing with China after being isolated by the … Read more

Analysis-Neutral Switzerland leans closer to NATO in response to Russia By Reuters

5/5 © Reuters. Paelvi Pulli, head of security policy at the Swiss Defence Ministry attends an interview with Reuters in Bern, Switzerland May 4, 2022. Picture taken May 4, 2022. REUTERS/Arnd Wiegmann 2/5 By John Revill BERN (Reuters) – Switzerland’s fabled neutral status is about to face its biggest test in decades, with the defence … Read more

China stocks rise as Shanghai says ‘victory’ against COVID getting closer

Breadcrumb Trail Links PMN Business Author of the article: Article content SHANGHAI — China stocks rose on Friday as Shanghai said it aimed to reach the zero-COVID level in areas outside its tightly regulated quarantine zones this month, while authorities’ pledges to support the economy also lifted sentiment. The blue-chip CSI300 index rose 0.8% to … Read more