Insect that fights Japanese knotweed to be released

March 9, 2010 Society No Comments

A tiny Japanese insect that could help the fight against an aggressive superweed has been given the go-ahead for a trial release in England.

Since Japanese knotweed was introduced to the UK it has rapidly spread, and the plant currently costs over £150m a year to control and clear.

But scientists say a natural predator in the weed’s native home of Japan could also help to control it here.

The insect will initially be released in a handful of sites this spring.

This is the first time that biocontrol – the use of a “natural predator” to control a pest – has been used in the EU to fight a weed.

Wildlife Minister Huw Irranca-Davies said: “These tiny insects, which naturally prey on Japanese Knotweed, will help free local authorities and industry from the huge cost of treating and killing this devastating plant.”
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AIG selling overseas business to rival MetLife

March 9, 2010 Business No Comments

AIG is selling an overseas insurance business to rival MetLife for $15.5bn (£10.3bn), as it continues to raise funds to pay off a federal bail-out.

MetLife is paying $6.8bn in cash and $8.7bn in shares for American Life Insurance Company (Alico), which operates in more than 50 countries.

The announcement comes a week after AIG agreed to sell its Asian business AIA to UK group Prudential for $35.5bn.

AIG is seeking to repay $182.3bn of loans from the US government.

“This came quicker than expected – normally you’d expect a company to take a breather after a deal like the AIA sale,” said Antony Gifford, portfolio manager for North American equities at Henderson Global Investors.

“But MetLife already announced it was in negotiations on 2 February, while the AIA deal was still going on. Perhaps the timetable was driven by the US government.”
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