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Bureaucratic Disputes, Funding Problems Hinder Search for 2nd Lion Air Black Box
Bureaucratic wrangling and funding problems have hampered the search for the cockpit voice recorder of a crashed Lion Air jet, prompting investigators to turn to the airline to foot the bill in a rare test of global norms on the …

POSTED DECEMBER 11, 2018 1:11 PM
Olympus to Pay $85 Million for Failing to Report Medical Device Contamination Risks
An Olympus Corp. subsidiary pleaded guilty on Monday and agreed to pay $85 million to resolve charges that it failed to file reports with U.S. regulators regarding infections connected to its duodenoscopes while continuing to sell the medical devices used …

POSTED DECEMBER 11, 2018 1:10 PM
Fed Chair Says Wells Fargo Must Address Risk Management Before Any Growth
Wells Fargo & Co. must keep a lid on its growth until the bank has hardened its risk management policies to prevent any further abuse of its customers, said Jerome Powell, chairman of the Federal Reserve. In February, the Fed …

POSTED DECEMBER 11, 2018 1:05 PM
Cyber Attack Targets Italian Oil-Services Firm Saipem
The Italian oil-services company Saipem SpA is still assessing the scope and impact of a cyber attack that targeted its servers in the Middle East, according to the head of digital and innovation. “We’re keeping the servers down to understand …

POSTED DECEMBER 11, 2018 12:50 PM
Willis Towers Watson Launches New Version of Radar Pricing Software
Willis Towers Watson announced the launch of the latest version of its Radar pricing software. With the speed of change and disruption across markets and products accelerating, Radar 4.2 provides insurers with “a future-proofed solution designed to achieve agile, sophisticated …

POSTED DECEMBER 11, 2018 10:40 AM
S. Africa Lender FirstRand Aims to Offer Services Such as Insurance
FirstRand Ltd. is emulating Amazon.com Inc. with a digital offering that will span everything from insurance, car license renewals to locating plumbing services as the South African bank chases new revenue sources. Africa’s biggest lender by market value is pushing …

POSTED DECEMBER 11, 2018 10:05 AM
Road America Motor Club Hires Campolo as VP of Sales in Florida
Road America Motor Club, a wholly owned subsidiary of international insurer MAPFRE, has added Frank Campolo to the company as vice president of Sales in its Miami headquarters. Campolo will develop and lead Road America’s sales strategy, focusing on revenue …

POSTED DECEMBER 11, 2018 5:41 AM
Jury Awards $774K to Worker Permanently Injured at Alabama Plant
A man permanently injured at an Alabama manufacturing plant in 2015 has been awarded $774,000. Al.com reported Dec. 5 that a jury has decided Italian company Tenax SPA should pay punitive and compensatory damages to Tenax factory worker John Dees. …

POSTED DECEMBER 11, 2018 5:36 AM
Miami Man Arrested in $60K Trucking Insurance Fraud Scheme
A South Florida trucking company owner was arrested last month after allegedly selling fraudulent insurance coverage with certificates of insurance totaling nearly $60,000 to local commercial truckers, according to a statement from Florida Chief Financial Officer (CFO) Jimmy Patronis. Investigators …

POSTED DECEMBER 11, 2018 5:04 AM
UK Prime Minister Defers Brexit Vote, Raising Risk of No Deal
Theresa May is playing for time. Faced with a humiliating defeat on her Brexit deal, the embattled U.K. prime minister announced to the House of Commons she would defer a vote and return to Brussels to seek “assurances” from European …

POSTED DECEMBER 10, 2018 8:10 PM

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