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Ship in Black Sea Fire Was Denied Port Entry over U.S. Sanctions Risk: Reuters
January 23, 2019
Two ships ablaze in the Black Sea region, leaving at least 10 crew dead, caught fire while transferring fuel mid-sea after one vessel was barred from using its usual port in southern Russia due to U.S. sanctions risk, two sources …

Volvo Recalls 200,000 Cars to Fix Potential Fuel Leakage Problem
January 23, 2019
Volvo Cars, which is owned by China’s Zhejiang Geely Holding Group, is voluntarily recalling about 200,000 cars after it found an engineering issue that could potentially cause fuel leakage in the engine compartment over time. The group said its prob …

Danske Money Laundering Scandal Damages Denmark’s Reputation: Regulator
January 23, 2019
Denmark’s status as one of the world’s least corrupt places has been undermined by the money laundering scandal engulfing its biggest bank, according to the country’s financial regulator. In a report examining risks facing Danish banks, the Financial …

Accounting Fraud Pushes UK’s Patisserie Valerie into Insolvency
January 23, 2019
U.K. entrepreneur Luke Johnson’s efforts to save Patisserie Valerie failed as an accounting scandal pushed the bakery chain’s parent into insolvency, threatening as many as 2,800 jobs on Britain’s beleaguered shopping streets. Patisserie Holdings Plc …

Commodities Broker Files $284M Suit Alleging Metals Fraud – in Echo of Natixis/Marex Case
January 23, 2019
Broker ED&F Man has filed a $284 million lawsuit against two Hong Kong companies, alleging that they knowingly provided fraudulent warehouse receipts for nickel stored in Asia, court documents show. The two Hong Kong firms, Come Harvest Holdings …

Texas Sunset Board: Legislature Needs to Decide Nature of Windstorm Insurer
January 23, 2019
To be the insurer of last resort for wind and hail insurance along the Texas coast, without state support and reliant on premium dollars and debt financing for funding, or to be a true insurance company that derives funding primarily …

Indiana’s United Health Actuarial Services Acquired by Risk Strategies
January 23, 2019
Risk Strategies, a privately held, national insurance brokerage and risk management firm, has acquired United Health Actuarial Services Inc. (UHAS), a health actuarial, management, and underwriting consulting firm based just north of Indianapolis in …

Shutdown Stalls West Virginia Recovery From 2016 Floods
January 23, 2019
A program that helps people rebuild homes that were damaged or destroyed in West Virginia’s 2016 flood is being affected by the partial federal government shutdown. The Charleston Gazette-Mail reports a statement from the West Virginia National Guard …

Arrest Made in $1.4M Florida Comic Book Heist
January 23, 2019
A few comic books from a stolen Batman collection worth $1.4 million have been recovered after an arrest in Arizona. News station ABC-15 in Phoenix reports that police charged Phillip Weisbauer of Royal Palm Beach, Florida, with theft and trafficking …

J&J to Pay States $120 Million to Settle Hip Implant Marketing Claims
January 23, 2019
Johnson & Johnson and its DePuy Orthopaedics unit have agreed to pay $120 million to resolve deceptive marketing claims by several U.S. states over the company’s metal-on-metal hip implants. Attorneys general of 46 U.S. states announced the settl …

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