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Royal commission: Is this the best take on the insurance 'shonks'? - Dotemirates
2 month 1 week

Royal commission: Is this the best take on the insurance 'shonks'?

ABC News Breakfast By Patrick Wood This was no sombre reflection on the woes of the finance industry — it was a full-throated attack on the insurance "shonks" who have been "rooting us for years".Stockbroker Marcus Padley came off the long run with his blunt analysis of the banking royal commission, which has this week been focusing on insurance companies.And his assessment began with something of a mea culpa."I thought the royal commission was going to be a politically driven waste of time," he said."And it is quite astonishing the things they have revealed in our industry — not just...


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3 hour 38 minute

Xiaomi to set up 5,000 offline stores in rural India by 2019-end

New Delhi: India's largest smartphone vendor Xiaomi said on Tuesday it will set up 5,000 Mi Stores across rural India by the end of 2019, a move that is expected to generate over 15,000 jobs. Xiaomi, which entered India in 2014 and sold smartphones exclusively online, ventured into offline retail in 2017. It operates its own chain of Mi Homes, apart from Mi Preferred Partners through franchise model. "It's been over a year since we started offering our products through offline retail and we have seen strong growth there ... About 4-5 months ago, we started piloting what we called...
3 hour 44 minute

Kotak, L&T, NBCC, 2 others submit EoI to take over bankrupt Jaypee Infratech

New Delhi: Five companies -- NBCC, Kotak Investment, L&T Infrastructure, Singapore-based Cube Highways and Suraksha group -- have shown interest in taking over debt-ridden Jaypee Infratech, which is facing bankruptcy proceedings in NCLT. Jaypee Infratech's Interim Resolution Professional (IRP) Anuj Jain had in October initiated a fresh initiative to revive Jaypee Infratech on NCLT's direction after lenders rejected over Rs 7,000 crore bid of Suraksha group. Jain had invited Expression of Interest (EoI) from companies to submit resolution plan to revive Jaypee Infratech Ltd (JIL), which has many stuck housing projects in Noida and Greater Noida. The IRP has received...
3 hour 54 minute

Fighting fires with "forest resilience" bonds

The rocky Yuba River meanders in a remote corner of California. It's here that insurers, environmentalists and venture capital firms are joining forces to create a "Forest Resilience Bond" aimed at solving a multibillion-dollar problem plaguing the wildfire-ravaged state.Nearly 100 people have died and 1,000 are unaccounted for from the two most recent mega-fires, both of which remain active. And in what the Association of International Fire Chiefs now calls "a year-round fire season" for this and other tinderbox states, more destructive blazes are all but a certainty.Rain could cause ash flows in town devastated by Camp FireCalifornia throws lifeline...

4 hour 24 second

Is it time to put a tax on meat?

First they came for cigarettes, then soda. Will those favoring taxes as a remedy for health problems now come for our barbecue?Slapping taxes on processed meat and red meat could prevent 222,000 deaths and save $41 billion in global health costs every year, according to a new study.The figures are based on studies that have linked red meat consumption to cancer, diabetes and stroke. In the U.S., the proposed tax would be set at 163 percent on processed meat such as sausages or bacon, and 34 percent on red meat, like steak or ground beef."In the U.S.A., tax levels are...
4 hour 9 minute

Pakistan in final round of talks with IMF over bailout deal

ISLAMABAD: Pakistan and the International Monetary Fund are into their final round of talks over an $8 billion bailout package Islamabad seeks from the international lending agency to overcome the country’s economic woes.Finance Minister Asad Umar acknowledged the two sides have differences and that the talks may not end on Tuesday.Authorities say they are still at odds over electricity rate hikes, as well as interest rate hikes and tax collection targets, and that the IMF is looking for more than Pakistan’s new government feels it can manage.Pakistan has been approaching the IMF since 1980s and received a $6.7 billion loan...
4 hour 9 minute

Boots travel insurer faces double investigation

A firm that claims to be one of the biggest travel insurance providers in the UK is facing two investigations into its conduct.Travel Insurance Facilities (TIF) - which sells through the High Street chain Boots - is being accused of failing to provide proper care to policyholders.According to an investigation in The Times newspaper, some patients were left stranded abroad.However, TIF denies any misconduct.The General Medical Council (GMC) is investigating two doctors who work for the firm. The Financial Conduct Authority (FCA) is also examining allegations against the company, after it was handed a 40,000 word dossier of complaints.Those complaints...