UPDATE 2-S.African insurers Old Mutual, Guardrisk offer to settle with virus-hit firms

But Old Mutual said in a statement on Wednesday that it would offer settlements to clients with an annual sum of less than 5 million rand ($302,429.1) insured instead. That followed a settlement offer from the country’s fourth-largest non-life insurer, Guardrisk, earlier this week.

S.African regulator working to clarify companies’ rights in pandemic insurance claims

Britain’s Financial Conduct Authority (FCA) has already taken a group of insurers to court as part of its own test case – that could affect 370,000 policyholders – and there have been questions as to whether the FSCA would take a similar approach.

Grand Designs host Kevin McCloud’s housing firm at risk of insolvency

A year later, McCloud, 61, who has presented the Channel 4 series Grand Designs since its launch in 1999, told the investors: “There is no reasonable prospect of liquidity for your HAB Housing shares.” When shares in a business are described as liquid, it generally means they can be bought and sold quickly and easily.

More Than 1,200 Drivers Lose Their Jobs After Amazon Cuts Ties With Delivery Firms

IQDI driver Phillip Cullinane said that all of the approximately 80 employees at the company’s Salt Lake City location were laid off, adding that they had recently doubled the number of workers there to meet demand during the coronavirus pandemic, CNBC reported.

Gold prices decrease and experts say now is the right time to buy

The gold expert said all of her forecasts are based on the technical movement of the prices, data from the World Gold Council and reaction of the local market, however, he said: “At the end of the day, the market will be the one to decide. Investors must watch all carefully to avoid losses.” — […]

Masan to issue $344 mln redeemable bonds

The three-year bonds will have a coupon rate of 10 percent for the first year and a floating rate of reference rate plus 4 percent subsequently. The reference rate refers to the average of 12-month deposit interest rates paid to individuals by Agribank, Vietcombank, VietinBank, and BIDV, the four big state-owned lenders. This rate is […]

Vice Minister of Health witnesses AstraZeneca-National Phytopharma model partnership

Speaking at the event, Vice Minister Tran Van Thuan emphasised, “This is one of the first agreements between a Vietnamese pharmaceutical distribution company and a multinational pharmaceutical company. This partnership will supply high-quality, affordable medicines, allowing Vietnamese people to access the most advanced drugs in the world and contributing to development of medical care and treatment for […]

The Latest: Filipino leader says US unrest hurts virus fight

The number of new claims for unemployment benefits in Washington dropped to just over 31,000 last week. LeVine said the drop is in part due to the ongoing anti-fraud efforts, but also to Washington’s four-stage reopening plan bringing people back to work.

New US sanctions could slowly strangle Huawei’s smartphone business

Huawei’s international smartphone business was already struggling after the United States imposed a separate restriction on the company last year that barred American firms such as Google (GOOGL) from supplying it with tech and software. As a result, Huawei’s latest smartphones don’t have access to popular apps such as Gmail, YouTube and Google maps, making […]

Vietnamese COVID-19 vaccine set for human trials in October

“To deal with the diverse mutations of SARS-CoV-2, we have chosen the antigen that proved to have mutated the least,” said Do Tuan Dat, Chairman of Vabiotech, explaining that the vaccine, if successful, would help achieve immunity against various different strains of the virus.