Fiat Chrysler pays $110m to settle investor suit as EC moves on other carmakers

Fiat Chrysler pays $110m to settle investor suit as EC moves on other carmakers

Fiat Chrysler pays $110m to settle investor suit as EC moves on other carmakers

Fiat Chrysler has paid $110m to settle a case brought by investors alleging they were misled over compliance with US federal vehicle safety regulations and diesel emissions tests. Meanwhile, the European Commission (EC) has charged BMW, Daimler and Volkswagen for colluding to stall the use of clean emission technology, with fines potentially running into billions of euros. Fiat Chrysler said…

Risk and insurance industry pins hopes on Ogden Rate change as review gets underway

Risk and insurance industry pins hopes on Ogden Rate change as review gets underway

Risk and insurance industry pins hopes on Ogden Rate change as review gets underway

A review of the UK’s personal injury discount rate, applied by courts to adjust for investment of large compensation awards, will be completed by 5 August 2019, the Lord Chancellor David Gauke has announced. In line with amendments to the Civil Liability Act passed in December 2018, the Lord Chancellor began the review within 90 days of the legislation. Consulting…

Many companies ‘not ready’ for most serious corporate risks: survey

Many companies ‘not ready’ for most serious corporate risks: survey

Many companies ‘not ready’ for most serious corporate risks: survey

A clear majority of board directors and general counsels (GCs) agree corporate risk has increased significantly in the past two to three years, and 30% fear their business is not prepared to tackle the most serious issues, according to a new report from Clyde & Co and Winmark…

VW and former CEO hit with new US dieselgate lawsuit

VW and former CEO hit with new US dieselgate lawsuit

VW and former CEO hit with new US dieselgate lawsuit

The US regulator has launched a legal suit against VW, alleging the German car manufacturer defrauded US bond investors in the diesel emission scandal. The case also cites former CEO Marin Winterkorn and two subsidiaries – Volkswagen Group of America Finance and VW Credit. The suit by the Securities and Exchange Commission (SEC) alleges that VW raised $13bn through corporate…

EU bans Boeing Max as Global Aerospace confirmed lead insurer

EU bans Boeing Max as Global Aerospace confirmed lead insurer

EU bans Boeing Max as Global Aerospace confirmed lead insurer

The EU has banned all Boeing 737 Max aircraft from flying in Europe over safety concerns, with more than half of the world’s 350-strong fleet now reportedly withdrawn from use. Meanwhile, Global Aerospace has confirmed it is the lead insurer for Boeing. The policy could see heavy product liability claims from the grounded aircraft, which now face serious questions. “I…

Mactavish warns UK firms not grasping full Brexit risk

Mactavish warns UK firms not grasping full Brexit risk

Mactavish warns UK firms not grasping full Brexit risk

UK companies must ensure they have done everything possible to protect their business from Brexit or face lawsuits brought by disgruntled investors, governance expert Mactavish has warned, adding that it fears many firms are not taking this risk seriously enough…

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