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The Weekly Actuary

Keep yourself updated with the latest actuarial related news in the world today

Zimbabwe introduces RTGS dollar to solve currency problem

Zimbabwe introduces RTGS dollar to solve currency problem

"Nobody knows what it is," is the verdict of Zimbabwe's former trade minister and now opposition politician Nkosana Moyo. He was talking about what appears to be a new currency in the country. It has been introduced over the last few days but its impact is not yet clear. Why is it needed? Zimbabwe has a troubled history with currency. In 2009 it ditched the Zimbabwe dollar and adopted the US dollar after hyperinflation destroyed its value. At its height prices were almost dou

Aon Releases 2019 Cyber Security Risk Report: "What's Now and What's Next"

Aon Releases 2019 Cyber Security Risk Report: "What's Now and What's Next"

Aon has released its 2019 Cyber Security Risk Report. The report details the greatest cyber security threats and challenges organizations are facing, discusses that as companies continue to use technology to speed up the transfer of information, game-changing business opportunities are created, as well as increased cyber risk. "In 2018 we witnessed that a proactive approach to cyber preparation and planning paid off for the companies that invested in it, and in 2019, we antic

Brexit news: Japan trade deal will not be ready by March 29 deadline

Brexit news: Japan trade deal will not be ready by March 29 deadline

The UK will not be able to roll over an EU trade deal with Japan in time for the scheduled date of Brexit on March 29, International Trade Secretary Liam Fox has said. Japan was the most significant on a list of 27 EU trade agreements released by Dr Fox's Department of International Trade on which discussions about possible roll-over are still ongoing just 36 days from the date of withdrawal. The department also confirmed that the EU's customs union agreement with Turkey, whi

German economy narrowly avoids recession

German economy narrowly avoids recession

Germany's economy stagnated in the fourth quarter of 2018, thus skirting a technical recession, as trade failed to support growth amid the global trade tensions and the uncertainty linked to Brexit. Gross domestic product was unchanged from the third quarter, when the economy shrunk 0.2%, preliminary data from the Federal Statistical Office showed on Thursday. Economists were looking for a modest increase of 0.1%. Two consecutive quarters of contraction would have meant the b

UK inflation falls to two-year low in January

UK inflation falls to two-year low in January

UK inflation fell to a two-year low in January, dragged lower by falling energy bills and fuel. The Office for National Statistics said the Consumer Prices Index (CPI) was 1.8% last month, from 2.1% in December. Inflation peaked at a five-year high of 3.1% in November 2017, and was last at 1.8% was in January 2017. Mike Hardie, ONS head of inflation, said: "The fall in inflation is due mainly to cheaper gas, electricity and petrol, partly offset by rising ferry ticket prices

France puts up food and drink prices under new law

France puts up food and drink prices under new law

France puts up food and drink prices under new law Nutella, Président Camembert, Ricard Pastis and Carte Noire coffee are among the brands set to cost more in France as a law on food prices takes effect. The cost of hundreds of popular food and drink products are set to increase from Friday, February 1, as a new law comes into force. The Loi Alimentation - which will also bring to an end so-called super-promotions, such as buy- one-get-one-free deals - aims to ensure farmers

Insurtech firm to lead Governments machine learning project

Insurtech firm to lead Governments machine learning project

A technology firm based in Exeter has been selected by the Government’s innovation research programme to lead a two-year study into machine learning and advanced data analytics for the insuance sector. Software Solved has been selected by the Government’s innovation research programme to lead a two-year study into machine learning and advanced data analytics. The firm, which is set for a 40 per cent increase in its workforce at its Exeter headquarters this year, has been sele

For US-China trade talks, hopes are high, expectations low

For US-China trade talks, hopes are high, expectations low

U.S. and Chinese negotiators start two days of high-level talks Wednesday aimed at settling a six-month trade war that has weakened both sides, shaken financial markets and clouded the outlook for the global economy. Yet the odds seem stacked against any substantive resolution this week to the standoff between the world’s two biggest economies. Perhaps the best that might be hoped for, analysts say, is for the two sides to agree to keep talking. The differences between Beijin

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