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Insurance firms can't be liable to pay compensation to those who travel in goods carriers: Madras HC

Insurance firms can't be liable to pay compensation to those who travel in goods carriers: Madras HC

Finance
The Madras High Court Friday held that insurance companies cannot be made liable to pay compensation to accident victims who travel in goods carriers. Justices K K Sasidharan and R Subramanian said that in the light of the categorical pronouncements of the Supreme Court in various accidents, Motor Accidents Claims Tribunals are not right in directing insurance companies to pay the compensation and recover the same from the vehicle owner. The bench gave the ruling while passing orders on a batch of appeals from Bharati AXA General Insurance Company Limited in Bengaluru, challenging a September 23, 2014 order of the Motor Accidents Claims Tribunal in Dharmapuri, on October 24. On September 1 2011, a 16-member marriage party from Kottapatty village had engaged a goods carrier to go to Sool...
Trump 'ready' to impose tariffs on all Chinese goods

Trump 'ready' to impose tariffs on all Chinese goods

Business
Donald Trump said he is "ready to go" with tariffs on an additional $ 500bn of imports from China.  "We are being taken advantage of and I don't like it," Trump said in an interview with CNBC. "We're down a tremendous amount."He added: "I'm ready to go to 500."China exported goods worth $ 505.5bn to the US in 2007, compared to $ 129.9bn of American goods sent to China.Earlier this month, the US imposed 25% tariffs on $ 34bn of Chinese imports. China hit back with its own levies.The Trump administration is threatening to impose fresh tariffs of 10% on another $ 200bn of Chinese goods, which Beijing has called "totally unacceptable." China, the European Union and others have been manipulating their currencies and interest rates lower, whi...
Nazi-themed goods found on Amazon marketplace

Nazi-themed goods found on Amazon marketplace

Technology
Amazon is helping hate groups profit by letting them sell Nazi-themed goods on its store, a report suggests.The study found many hate groups were selling goods on Amazon's store branded with Nazi imagery, including clothing, jewellery and replica military regalia.Some hate groups were also selling music and books celebrating their views via Amazon, it said.Amazon has now removed some listings and said anyone who broke its guidelines would face "swift action".Slow responseThe report by two US organisations, the Partnership for Working Families and the Action Center on Race and the Economy, looked at the way white supremacist groups used Amazon to fund themselves.It said Amazon's "weak and inadequately enforced" policies gave racis...
EU retaliatory tariffs on raft of US goods go into force

EU retaliatory tariffs on raft of US goods go into force

World
The European Union started enforcing tariffs Friday on American imports like bourbon, peanut butter and orange juice, part of a growing global trade rift that's likely to intensify over the next few weeks. The EU tariffs on $ 3.4 billion worth of U.S. products are in retaliation for duties the Trump administration has imposed on European steel and aluminum. The EU trade commissioner has acknowledged that the EU targeted some iconic American items to put political pressure on U.S. President Donald Trump and senior U.S. politicians. European Commission spokesman Alexander Winterstein said the EU's response is proportionate and reasonable. Daniel Gros, director for Economy and Finance at the Center for European Policy Studies, said that in a trade war everyone stands to lose, but the U.S. h...
EU tariffs on US goods come into force

EU tariffs on US goods come into force

World
Media playback is unsupported on your device The European Union (EU) has introduced retaliatory tariffs on US goods as a top official launched a fresh attack on President Donald Trump's trade policy. The duties on €2.8bn (£2.4bn) worth of US goods came into force on Friday. Tariffs have been imposed on products such as bourbon whiskey, motorcycles and orange juice.European Commission president Jean-Claude Juncker said duties imposed by the US on the EU go against "all logic and history".Addressing the Irish parliament in Dublin, he added that "we will do what we have to do to rebalance and safeguard" the EU.How did this start?The Trump administration announced in March that it would introduce tariffs of 25% on steel and 10% on alum...