Engineering teams on the Italian island of Giglio began lifting the wrecked Costa Concordia liner upright on Monday in one of the most complex and costly maritime salvage operations ever attempted.

The financial stakes for insurers will be almost as enormous as the awe-inspiring feat of engineering when the wrecked Costa Concordia is uprighted next week.

The financial stakes for insurers will be almost as enormous as the awe-inspiring feat of engineering when the wrecked Costa Concordia is uprighted next week.

Josef Ackermann said it was unfair to blame him for what he called a surprise tragedy.

The U.S. government spent nearly $62 billion on disaster relief in the two-year period ending Sept. 30, 2012, to help Americans recover from severe storms, droughts, heat waves and wildfires.

A fast-moving wildfire ripped through rolling hills and ranch land in rural northern California on Tuesday, after destroying 30 homes overnight and prompting more than 500 area residents to evacuate.

U.S. judge on Tuesday approved a $72 million settlement to resolve shareholder claims that Berkshire Hathaway Inc's General Re Corp engaged in a sham deal that helped inflate AIG's reserves.

American International Group Inc has decided to stop signing new reinsurance contracts with Warren Buffett's Berkshire Hathaway Inc. due to competitive reasons.