The Volkswagen emissions cheating scandal has tanked the company's stock price, ousted its top executive and could ultimately cost the world's top automaker tens of billions of dollars. It may also destroy the credibility of diesel technology from all automakers.

Food producer Mars Inc. has opened a Global Food Safety Center, which it says is a first-of-its-kind facility for pre-competitive research and training that aims to raise global food safety standards through collaboration.

Large cargo losses are having a significant impact on the marine insurance sector, says Nick Derrick, chairman of International Union of Marine Insurance's cargo committee. He spoke in Berlin, at IUMI's annual conference.

New York reinsurance broker Guy Carpenter & Company has estimated that it could cost $3.3bn to cover the extent of losses associated with the Tianjin explosions.