BUSINESS - Page 21

Having a clear vision of the future is vital for any business. But it’s essential for insurers, whose success is measured in how accurately they can assess risks and price policies. That means keeping a finger on the pulse of the ever-changing insurance market and ensuring their pricing models are up to date or at least in need of a revamp. London-based insurance software startup Hyperexponential is on a mission to do just that. It recently announced an oversubscribed $18

The carmaker says it’s the first volume manufacturer to integrate ChatGPT, designed to converse with drivers in a back-and-forth dialogue. VW vehicles equipped with the technology will be able to have researched content read aloud and adjust navigation and infotainment functions, the company said on Monday as it presented the new feature at the CES electronics trade fair in Las Vegas. The system is built into Volkswagen’s existing voice assistant IDA and will work in the ID.7, ID.4, ID.5, Tiguan

BYD, the global leader in battery electric vehicles (BEVs), announced on Tuesday its upcoming debut in the Indonesian market next week. This introduction aligns with Indonesia’s ongoing initiatives to expedite the embrace of electric vehicles (EVs) as part of its commitment to emission reduction. According to analysts, BYD’s expansion into the region is a sign of growing demand for eco-friendly personal transportation solutions. The company is already the largest supplier of EVs in the country, with its passenger EV fleet

The cockpit voice recorder data on the Alaska Airlines Boeing 737 MAX 9 jet, which lost a panel mid-flight on Friday, was overwritten, U.S. authorities said, renewing attention on an industry call for longer in-flight recordings. National Transportation Safety Board (NTSB) chair Jennifer Homendy said on Sunday no data was available on the cockpit voice recorder because it was not retrieved within two hours – when recording restarts, erasing previous data. NTSB has called for that window to be increased

China’s COSCO, the world’s fourth-largest container shipping line responsible for about 11% of global trade, has suspended its service to Israel, the Israeli financial news website Globes reported on Sunday. The company’s decision, which did not include details behind the move, came as shipping lanes in the Red Sea have been disrupted by attacks carried out by Iranian-backed Houthi militants in Yemen. The halt to COSCOs’ service to Israel could have significant implications for trade. The decision, which was made

A financial meltdown that started in Turkey last month left few emerging-market money managers unscathed, with local-currency bond funds falling an average of 5 percent. That’s a significant loss for funds from Vanguard Asset Management Ltd., BlackRock Inc., and PineBridge Investments. The losses highlight how the rout that began in Turkey has spread globally, hurting fixed-income performance. It has also prompted investors to seek safety in U.S. stocks, boosting demand for low-cost stock index funds such as those run by

The world’s largest EV maker, Tesla, recalls more than 1.6 million vehicles in China’s top market due to software issues that could pose safety risks while driving. The recall — sparked by discovering problems with assisted driving functions and the cars’ door-locking systems — will be conducted through remote ‘over-the-air’ (OTA) updates to the cars’ software. Tesla’s OTA update will increase warnings to drivers while Autopilot is in use, urging them to keep their hands on the wheel and pay

The parent of Chevrolet, Cadillac, and GMC said on Wednesday it is offering incentives of $7,500 on its electric vehicles that earlier this week lost a U.S. government tax credit after the Treasury issued guidelines in December focusing on new battery sourcing requirements that are aimed at weaning the U.S. EV supply chain away from China. The new rules took effect on Monday. GM, which makes the Chevy Bolt EV, Bolt EUV, and Cadillac Lyriq, said the vehicle setback was

Hyundai Motor and affiliate Kia expect global auto sales to rise 2% in 2024, even as last year’s sales fell short of target due to supply chain disruptions. The duo sold 7.3 million vehicles in 2023, about 3% less than their combined target of 7.52 million, mainly due to a challenging economic environment, including rising interest rates and inflation that pushed vehicles out of the reach of some buyers. But this year, the duo has a more substantial base, with

Flamin’ Hot Doritos, loved by many in Australia for their tasty flavor, are now causing health worries. According to a worker’s union, the spicy seasoning used in these chips is affecting workers’ health at a crisp factory in Australia. The UWU claims that factory employees have been suffering from “difficulty breathing,” skin irritation, and other problems caused by the seasoning in the popular corn chips. In a report sent to the local workplace safety regulator, the UWU says workers at