Willies grill

Australia's competition regulator on Thursday (Feb 18) raised initial concerns over Aon's US$30 billion bid for Willis Towers Watson to create the world's largest insurance broker, close on the heels of a similar move by EU antitrust regulators. The merger could significantly hurt competition in commercial risk, reinsurance and employee benefits broking and advisory services in Australia, the Australian Competition and Consumer Commission (ACCC) said. The pandemic has triggered a sharp rise in claims for insurers and hit their investment portfolios, which along with falling valuations have sparked several deals in the insurance industry. Aon bid for Willis in March last year in an all-stock deal, which was the insurance sector's largest ever. Representatives of Aon and Willis declined to comment on the matter. The regulator said the deal may lead to price increases or reduced service levels for large or high-value commercial insurance customers and may also limit the … [Read more...] about Australian regulator raises antitrust doubts over Aon’s US$30 billion Willis Towers bid

BRUSSELS: EU antitrust regulators have suspended their investigation into Aon's US$30 billion bid for Willis Towers Watson while they wait for the US insurance broker to provide data required for the case. The European Commission, which kicked off its probe in December because of concerns the deal to create the world's largest insurance broker may hurt competition in major markets, said it stopped the clock on Monday. "This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them," a spokeswoman for the EU competition enforcer said. "Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission's decision is then adjusted accordingly," she said. Aon declined to comment. The previous deadline for the EU decision on the deal was May 10. The EU investigation was launched after Aon declined to provide … [Read more...] about EU antitrust regulators halt Aon, Willis probe, await data

Willie Nelson will have a new book on shelves this summer. Willie Nelson’s Letters to America is an inspiring collection of letters from the Red Headed Stranger to his readers about what it means to be a U.S. citizen. Letters to America will be published by Harper Horizon on June 29th. According to a release, the book is a reminder to readers of the “endless promise and continuous obligations of all Americans — to themselves, to one another, and to their nation — to stand with unity, resolve, and faith.” Along with ruminations on our country, Letters to America includes Nelson’s thoughts on family, leadership, and, naturally, music. His lyrics are woven throughout the book, which includes letters titled “Dear America” and “Dear Road.” Nelson collaborated on the book with Turk Pipkin, a contributing editor at Texas Monthly , who also teamed up with the country songwriter on 2006’s The Tao of Willie. Willie Nelson’s Letters to America is the follow-up to September … [Read more...] about Willie Nelson to Write ‘Letters to America’ in New Book

SINGAPORE: A court of five judges on Thursday (Feb 25) grilled lawyers representing Aljunied Hougang Town Council (AHTC) and Sengkang Town Council (SKTC) on their arguments depicting how Workers' Party (WP) leaders had breached duties owed to the town council and misused S$33.7 million of town council funds. Central to Thursday's hearing was the issue of how the WP leaders waived the calling of a tender for a managing agent in 2011, after WP won the Aljunied ward and formed AHTC. Lawyers for the WP leaders argued that they had to do away with the tender and appoint managing agent FM Solutions & Services (FMSS), which was led by Ms How Weng Fan, WP stalwart Low Thia Khiang's long-running colleague from Hougang Town Council. This was due to the pressing deadlines and political pressure, as well as an unwilling incumbent managing agent - CPG Facilities Management - that was aligned with the PAP (People's Action Party) and which Mr Low feared might "sabotage" matters . … [Read more...] about AHTC trial: In good faith or not? Court of 5 judges grills lawyers in WP leaders’ appeal against verdict

BEIJING - They call the shots in their various government departments, overseeing matters from water to traffic. But earlier this month, some officials of Wuhan city in central Hubei province found themselves in the line of fire inside a television studio instead. "Have you ever visited our area?" a man fed up with the flooding in his area lobbed a question at Mr Zuo Shaobin, chief of the water bureau. "No, I haven't," admitted Mr Zuo, whose face grew redder when the man walked up and gave him a pair of rain boots. Such was the scene from Dian Shi Wen Zheng, a popular programme on Wuhan TV that has attracted wide attention in China for giving rise to new questions about how officials should be made accountable. Started in 2011 when it was aired just once a year, the show has become such a hit that it is now run twice a year, with five episodes each time. In each episode, six to eight officials go on the show to be quizzed about municipal matters by studio audiences drawn from … [Read more...] about Chinese officials grilled on TV

Die Hard actor Bruce Willis has spoken out after he was photographed not wearing a face mask during a visit to a Los Angeles pharmacy. Willis told People magazine on Tuesday (Jan 12) that “it was an error in judgement”. He added: “Be safe out there everyone and let’s continue to mask up”. The 65-year-old was photographed leaving a Rite Aid store mask-less and the photo began trending on Twitter. It was reported on Monday by entertainment site Page Six that he had been asked to leave the store by an employee for refusing to wear a mask “despite having a bandana around his neck, which he could have easily pulled up”. He was also said to have walked away without making a purchase. A TV writer joked on Twitter that the employee had achieved what Hans Gruber (the bad guy in Die Hard) couldn’t – “tossing Bruce Willis out of the building”. Social media users also criticised the actor for his actions, with some calling him a “Covidiot”. California has seen an increase in … [Read more...] about Bruce Willis admits making ‘error in judgement’ after getting caught without mask