Author: completebodyneeds

The Securities and Exchange Commission is mulling changes to decades-old rules that prohibit companies from certain communications during the going-public process, as the Wall Street regulator looks to boost initial public offerings. SEC Chairman Paul Atkins said he would welcome reform to the so-called “gun-jumping” rules, which haven’t been updated in more than 20 years. “The ways in which businesses communicated with employees, customers, and potential investors at that time bears little resemblance to how they do so now,” Atkins said in prepared remarks at a Stanford University event on Tuesday. “I look forward to constructing a more harmonized set…

Insurance carriers are not off the hook in two high-profile lawsuits involving alleged sexual abuse and millions of dollars in defense costs and indemnity—one in North Carolina and one in Georgia. In the North Carolina case, Ohio Casualty Insurance Co., a Liberty Mutual Insurance subsidiary, and other insurers have reached settlement agreements with a mentally challenged young man who was wrongly coerced into confessing to the rape and murder of an 11-year-old neighbor, according to federal court records and news reports. The insurers will pay much of the $10 settlement with Antonio Trey Jones, who was 14 at the time.…

Blue Origin, the aerospace company founded by billionaire Jeff Bezos, will invest $600 million to expand its Rocket Park campus in Cape Canaveral, Florida, according to a statement from Governor Ron DeSantis. The planned 830,000-square-foot manufacturing facility will increase the volume and mass that can be delivered into orbit. The governor’s office said the project will leverage Florida’s Spaceport Improvement Program, a state infrastructure funding initiative for aerospace development. The increased investment on Florida’s “Space Coast” will create 500 aerospace jobs with an average salary of $98,000. “Project Horizon is the latest and most ambitious chapter in Blue Origin’s decade-long…

Southern California officials lifted the final evacuation orders Tuesday night for residents who live near a damaged chemical tank, allowing 16,000 people to return home. The crisis that began Thursday had forced 50,000 people to evacuate in and around the Orange County city of Garden Grove. A crack that formed by chance on the tank relieved pressure and helped avert a catastrophic explosion, allowing most evacuees to return home over the Memorial Day weekend. Authorities announced they were lifting the final orders after the temperature on the tank remained stable for four hours without intervention from sprinklers. “All residents will…

An accident at a Washington state packaging facility has left at least one person dead, nine missing and nine others injured, with crews working to contain a ruptured tank of caustic chemicals. The incident occurred Tuesday morning at Nippon Dynawave Packaging Co.’s facility in Longview, as a massive industrial tank of “white liquor” collapsed, officials said. The container held about 900,000 gallons of the substance used to soften wood for papermaking, and about 90,000 gallons may remain inside, local fire department officials estimated. “Recovery efforts remain complex due to ongoing safety concerns,” the officials and the company said in a…

OpenAI CEO Sam Altman said on Tuesday the rapid development and adoption of AI would not lead to a global “jobs apocalypse” and the technology had not claimed as many white-collar jobs as he had feared. Speaking virtually at a Commonwealth Bank of Australia (CBA) conference in Sydney, Altman said he was initially concerned about the impact AI would have on global employment levels. He said he and his executives had been “roughly right” on the technological predictions made by OpenAI when it launched ChatGPT in 2022. But he said they were “pretty wrong” on the social and economic implications.…

North Carolina investment firm founder Greg Lindberg was sentenced Tuesday to 12 years in prison for siphoning more than $2 billion in reserves backing insurance policies and using the proceeds to pay for jets, mansions and a 214-foot yacht. Lindberg, 56, pleaded guilty in 2024 to conspiring to defraud insurers and thousands of policy holders in one of the largest insurance frauds in US history, federal prosecutors said in a statement. He was separately convicted at trial of conspiring to bribe the elected state insurance commissioner and replace a senior regulator who oversaw his companies. Claiming he’d be the next…

A huge fire and explosion at a lumber mill in Maine on May 15 that took the life of a 27-year-old firefighter and injured a dozen others is believed to have been accidental, according to an initial investigation by state and federal officials. The state fire marshal’s office said that based on information gained from an on-scene investigation at Robbins Lumber in Searsmont, investigators believe the fire originated in the base of the silo in the area of the unloader mechanism. Before the smoldering fire could be contained, a “rapid ignition of suspended particulate material resulted in an explosion within…

Climate change is linked to a 10% global increase in antibiotic-resistance genes in Salmonella, according to new research that suggests warming temperatures and shifting rainfall patterns could accelerate the spread of hard-to-treat infections. The study — conducted by researchers from multiple institutes including the Chinese Academy of Sciences and the University of Cambridge — analyzed more than 480,000 Salmonella genomes collected from 139 countries between 1940 and 2023. Published this week in The Lancet Planetary Health, it found that temperature and precipitation levels are significantly associated with increases in antimicrobial-resistance genes, or ARGs, worldwide. While salmonella is one of the…

Commercial shipping through the Strait of Hormuz gained modest momentum over the past 24 hours as at least two non-Iranian supertankers exited the Persian Gulf, the latest mini-flurry in energy flows transiting the vital waterway.The Singapore-linked Eagle Veracruz and Greek-owned Nissos Keros were both seen having crossed Hormuz early on Tuesday, according to vessel-tracking data compiled by Bloomberg. In total, five ships were seen crossing Hormuz in either direction, the data show. It’s the first time in a week that four million barrels of unsanctioned crude have been seen crossing the waterway, with ships leaving in bunches and then lower…