Posted in home

U.S. Extends Cruise Ban; German Work-From-Home Law: Virus Update

(Bloomberg) — The Centers for Disease Control and Prevention extended a ban on cruises in the U.S. to Oct. 31, saying further action is needed before cruises can safely resume.

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Germany plans to unveil draft legislation that would give workers the legal right to work from home, Labor Minister Hubertus Heil told the Financial Times. U.S. carriers American Airlines Group Inc. and United Airlines Holdings Inc. will start laying off a combined 32,000 workers as the companies contend with the unprecedented collapse in travel demand caused by the pandemic.

Japan’s ruling party will consider additional economic stimulus to prop up the economy amid the pandemic, even as a Bank of Japan survey found sentiment at large manufacturers had improved, signaling the worst of the economic impact may be over. Officials indicated an early election was unlikely with the government prioritizing the pandemic response.

Key Developments:

Global Tracker: Cases

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Posted in home

UK watchdog proposes ban on car, home insurance “loyalty penalties”

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LONDON, Sept 22 (Reuters)Britain’s Financial Conduct Authority said on Tuesday it was proposing to stop insurers from charging more to repeat car and home insurance customers than to new clients.

When a customer renews their home or motor insurance policy, they would be paying no more than they would if they were new to their provider through the same sales channel, such as online,the FCA said.

“The FCA estimates that its proposals will save consumers 3.7 billion pounds ($4.73 billion) over 10 years,” said Christopher Woolard, the FCA’s interim chief executive.

It singled out “price walking” or complex pricing practices that allow insurers to raise prices for consumers who renew their car and home insurance policies year after year.

The aim is to stop loyal customers being penalised, the FCA said on Tuesday.

It identified 6 million policyholders paying high or very high margins

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