The FAA has announced a new rulemaking process that will require aircraft to have longer duration Cockpit Voice Recorders (CVRs) following a series of near-collisions on US runways. The CVRs will now capture 25 hours of information, instead of the current two hours, in order to prevent future close calls and ensure the safety of passengers and crew. The rulemaking process can take multiple years, and the agency has welcomed intervention from Congress on the matter.
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Sanofi, one of the three major insulin makers in the US, has announced a 78% reduction in the list price of its most widely prescribed insulin, Lantus, and a $35 monthly cap for those with private insurance. Uninsured Americans are eligible for Sanofi’s Insulins Valyou Savings Program. President Joe Biden praised the move, and Eli Lilly and Novo Nordisk have also announced changes to how they price their insulin this month. The Inflation Reduction Act and the actions of the three major insulin makers are a step in the right direction to make insulin more accessible and affordable for people with diabetes.
Ten people are facing murder charges after the death of 28-year-old Irvo Otieno at a Virginia state psychiatric institution. Surveillance video showed that Otieno was sitting in a chair when officers pulled him to the floor and that he did not appear combative before the incident. The family of Irvo Otieno is demanding justice and an independent investigation into the incident.
Key takeaways: The banks’ joint statement reinforces confidence in the banking system and their cash infusion of $30 billion is a sign of their commitment…
Key takeaways: A group of America’s largest banks have agreed to deposit $30 billion into First Republic Bank. The move by the banks is a…
Three hospital employees and seven sheriff’s deputies in Virginia have been arrested and charged with second-degree murder in the death of Irvo Otieno, a 28-year-old Black man who died at a state mental health facility last week. The Office of the Commonwealth’s Attorney for Dinwiddie County said in a news release that the employees were charged with involuntary manslaughter, obstruction of justice, and failure to provide medical care. The incident has sparked outrage in the community and has led to calls for justice for Otieno and his family.
U.S. Border Patrol Chief Raul Ortiz debunked a claim made by Rep. Marjorie Taylor Greene (R-GA) that agents had found an “explosive” near the southern border in January, confirming that the object was actually a piece of a plastic water bottle. All of the Democrats on the panel opted to boycott the hearing, arguing that Republicans were using the field hearing to “score political points” and spread misinformation. The incident highlights the ongoing political tensions between Republicans and Democrats in Congress.
This article examines the recent failures of Silicon Valley Bank and Signature Bank, as well as the ongoing issues at Credit Suisse. It is believed that Silicon Valley Bank's lending practices contributed to its rapid failure, leading the FDIC to take control of the bank. Analysts have raised questions about the risk management of the bank's executives and board, and the FDIC is now left to grapple with the consequences of these failures and the questions they have raised.