Mercedes just sold the world’s most expensive car for $142 million

CNN — Mercedes-Benz confirmed on Thursday that it recently sold the world’s most expensive car. A very rare 1955 Mercedes-Benz SLR coupe that had been kept in the German automaker’s collection was sold to a private owner for €135 million, the equivalent of $142 million. That price makes it the most expensive car known to … Read more

The most complained about life insurers in South Africa

The office of the Ombudsman for Long Term Insurers (OLTI) has published its annual report for 2021, showing which life and other long-term insurers have drawn the most complaints from policyholders over the last year. For the 2021 review period, the ombud received 17,379 requests for assistance, a 22% increase from 14,198 requests it received … Read more

JPMorgan shareholders vote down pay bump for CEO Jamie Dimon

New York CNN Business — JP Morgan Chase investors on Tuesday voted down a multimillion-dollar payout for CEO Jamie Dimon. The pay proposal they rejected included a massive $52.6 million retention bonus as part of Dimon’s 2021 compensation package, just months after the bank’s board approved the incentive. With the bonus, Dimon’s total compensation was … Read more

Retailers call out Visa and Mastercard for fee hikes that could make inflation worse

san francisco CNN Business — Consumers could soon see even higher prices at some stores, after credit card giants Visa and Mastercard raised their “swipe fees” – generating an additional cost that some retailers could be forced to pass on to their customers. Last month, the two credit card companies raised some of their interchange … Read more

AAA predicts jump in Memorial Day weekend travel

FLORIDA — Surging gas prices and inflation are not enough to discourage Americans from making travel plans for Memorial Day weekend, and the top destination in the United States is expected to be Orlando, according to AAA. What You Need To Know Memorial Day weekend travel expected to jump 8.3% over 2021, AAA forecasts The … Read more

Elon Musk proves once again that rules, norms don’t apply to him

New York CNN Business — How do you regulate a man’s worth more than $200 billion who thinks he knows better than everyone else? The simple answer is: You don’t. Elon Musk has once again proven he’ll do things his own way, announcing Friday that his $44 billion deal to buy Twitter is on hold. … Read more

More car insurance claims are being denied in South Africa because of this clause

Data from the Ombudsman for Short-Term Insurance (OSTI) shows that an increasing number of motor vehicle accident insurance claims are being rejected and disputed on the basis of the ‘reasonable precautions’ clause in insurance policies. In fact, the OSTI recently found in favor of an insurer, where an expert calculated that the insured drove above … Read more

HEALTHCARE ACTUARY DAVID STODDARD JOINS WORLD INSURANCE ASSOCIATES | News

Iselin, NJ, May 17, 2022 (GLOBE NEWSWIRE) — World Insurance Associates LLC (World) announced today that health benefits actuary David Stoddard has joined its employee benefits team as director of analytics and actuarial services. In this role, Stoddard will lead national initiatives with a focus on creating new, scalable, and data-driven solutions for World’s employee … Read more

Pendella to Bring Individual Life Insurance Offerings to SpiritHR Technology Platform | News

FORT MYERS, Fla., May 17, 2022 (GLOBE NEWSWIRE) — Pendella Technologies, a fast-growing technology company on a mission to take the bias out of life insurance, and HR services provider SpiritHR will partner to expand the availability of life insurance to employees nationwide. The partnership enables SpiritHR to integrate Pendella’s white-labeled technology platform into its … Read more

India’s wheat was easing the food crisis. Then it banned exports

“We already have enough food for our people but our farmers seem to have made arrangements to feed the world,” Modi said in April. “We are ready to send the relief from tomorrow itself.” The world’s second biggest producer of wheat after China was already walking the talk. In the 12 months to March, India … Read more