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BIS chief warns on hedge fund leverage
Bank of International Settlements General Manager Pablo Hernández de Cos has urged tighter controls on hedge fund leverage in government bond markets, citing rising debt and growing risks from non-bank financial institutions. Speaking at the London School of Economics, he warned that strategies like cash-futures basis trades and zero-haircut repos expose markets to instability. De…
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Bird flu virus ‘could risk pandemic worse than COVID’
The bird flu virus that has been spreading among wild birds, poultry and mammals could lead to a pandemic worse than Covid-19 if it mutates to transmit between humans, the head of France’s Institut Pasteur respiratory infections center has said. “What we fear is the virus adapting to mammals, and particularly to humans, becoming capable…
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Thanksgiving quake rattles Alaska’s insurers
On Thanksgiving morning, a magnitude-6.0 earthquake struck near Susitna, Alaska, prompting concern among insurers and emergency agencies. The U.S. Geological Survey warned of potential aftershocks, with a 28% chance of significant tremors in the coming week. Although no major damage was reported, the quake highlighted the low uptake of earthquake insurance in the region, where…
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EU risks missing the boat on AI, Lagarde warns
Europe must quickly remove obstacles that prevent the diffusion of artificial intelligence, European Central Bank President Christine Lagarde has warned. “With the United States and China ahead of the field, Europe has already missed the opportunity to be a first mover in AI,” Lagarde said in a speech in Bratislava, Slovakia. “We still bear the…
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Earth intelligence sector prepares for revenue boost
Reuters reports on how Savills Investment Management, a U.K. real estate manager which oversees €26bn ($29.93bn) in assets and is concerned about flood, fire and other climate-related risks to its properties sought help from London-based data analytics firm Climate X. Savills said the data crunched by Climate X aids its investment decisions and it may…
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Major banks hit in vendor hack
A cyberattack on tech vendor SitusAMC may have exposed client data for JPMorgan Chase, Citi, Morgan Stanley, and others, the New York Times has reported. The November 12 breach affected corporate data including accounting documents and legal contracts. SitusAMC CEO Michael Franco said customer data may also have been impacted, but the breach did not…
