Category: Regulations & Security

These stories, posts and articles include legal hearings, criminal procedures, governmental approvals, societal norms, and other universal orders…

Categories
Business Digital - AI & Apps Lifestyle Perspectives Regulations & Security Technology

AT&T on Feb. 22 outage: ‘Caused by the application and execution of an incorrect process’ while expanding its network, ‘not a cyber attack’

—  AT&T says they have “restored wireless service to all our affected customers.”

 

ABC News:

 

 

A temporary network disruption that affected AT&T customers in the U.S. Thursday was caused by a software update, the company said.

A man walks past the AT&T store in New York’s Times Square, June 17, 2015. — Brendan McDermid/Reuters, FILE

 

AT&T told ABC News in a statement ABC News that the outage was not a cyberattack but caused by “the application and execution of an incorrect process used as we were expanding our network.”

 

“We are continuing our assessment of today’s outage to ensure we keep delivering the service that our customers deserve,” the statement continued.

 

The software update went wrong, according to preliminary information from two sources familiar with the situation.

 

Sources have told ABC News that there was nothing nefarious or malicious about the incident.

 

The outage was not caused by an external actor, according to a source familiar with the situation. AT&T performs updates regularly, according to the source.

 

In an earlier statement to ABC News, AT&T said some customers were “experiencing wireless service interruptions” and advised them to make calls over Wi-Fi.

 

The company issued an update later Thursday afternoon saying that its network had been fully restored.

 

“We have restored wireless service to all our affected customers. We sincerely apologize to them. Keeping our customers connected remains our top priority, and we are taking steps to ensure our customers do not experience this again in the future,” the company said in a message on its website.

 

Two sources briefed on the situation told ABC News that the FBI and Department of Homeland Security (DHS), among other agencies, had been urgently investigating to determine whether the AT&T outage was the result of a cyberattack or a hack, or simply some sort of technical malfunction.

 

As of 5 a.m. ET, the U.S. Cybersecurity and Infrastructure Security Agency (CISA) reported, according to a confidential memo obtained by ABC News, that “the cause of the outage is unknown and there are no indications of malicious activity.” CISA is an agency within DHS tasked with monitoring cyber threats.

 

The FCC has been in touch with AT&T to figure out what caused the outage, according to National Security Communications Advisor John Kirby.

 

Kirby told reporters Thursday afternoon that DHS and the FBI were looking into the outage as well and working with the tech industry and network providers to see what can be done “from a federal perspective to enhance their investigative efforts to figure out what happened here.”

 

“The bottom line is we don’t have all the answers,” he said. “We’re working very hard to see if we can get to the ground truth of exactly what happened.”

 

Several police departments and municipalities warned local residents of what they described as a nationwide outage. In turn, officials urged callers to contact emergency services by alternative means.

 

“There is a nationwide AT&T outage that is preventing wireless customers from making and receiving any phone calls (including to 9-1-1),” the Charlotte-Mecklenburg Police Department, which serves the Charlotte, North Carolina area, said in a post on X.

 

The county government in Fairfax, Virginia, released a similar warning.

 

“There is a nationwide AT&T outage that is preventing wireless customers from making and receiving any phone calls (including to 9-1-1),” the Fairfax County Government said on X. “Try calling from a landline or ask a friend or family member to call 9-1-1 on your behalf.”

 

In response to an earlier request from ABC News, CISA said they had no comment on the outage.

 

AT&T serves more than 100 million customers across mobile and broadband services, according to the company’s website.

 

Verizon and T-Mobile both told ABC News that their respective networks are not experiencing outages but customers may experience difficulty when contacting individuals affected by outages at other providers.

 

“Verizon’s network is operating normally. Some customers experienced issues this morning when calling or texting with customers served by another carrier. We are continuing to monitor the situation,” a Verizon spokesperson said.

 

T-Mobile similarly told ABC News, “We did not experience an outage. Our network is operating normally. Down Detector is likely reflecting challenges our customers were having attempting to connect to users on other networks.”

 

 

Read More

 

 

— Techmeme

Categories
Art & Life Culture International & World Lifestyle Regulations & Security

How film about ‘A Family’ depicts relatives’ reactions to disclosure that father repeatedly rapes child

In Christine Angot’s documentary “A Family,” which premiered Sunday in the Encounters section of the Berlin Film Festival, the French novelist explores how various members of her family reacted to the revelation that she was repeatedly raped by her father from the age of 13.

 

The film starts with a startling confrontation between Angot and her stepmother in Strasbourg, with Angot pushing her way into her stepmother’s apartment with a camera-person and proceeding to question the woman about Angot’s late father’s crimes and the wife’s view on that.

 

Angot says that this incident was not planned at all. In fact, the documentary itself was not planned. It started when Angot went to Strasbourg as part of a book signing tour to support the publication of “Le Voyage dans l’Est,” which focuses on those in her inner circle who knew of the abuse and failed to intervene. She decided to invite her friend Caroline Champetier, a cinematographer, to accompany her, but without a clear idea of what would be achieved.

 

Angot had written about the repeated rapes committed by her father before. Her novel “Incest” was considered to be a piece of autofiction, and the novel “An Impossible Love” also dealt with an incestuous relationship, and was adapted as a film by Catherine Corsini.

 

However, having Champetier film the confrontation with her stepmother made a “big difference,” Angot tells Variety. For her to have that camera show exactly what was said meant that Angot did not feel alone, she says, and the camera became a kind of witness. In the film, the stepmother says the book was Angot’s “version” of events, but no one can dispute what we hear of their conversation.

 

“There’s no other version,” Angot says. “There can be a judgment. People can say: ‘Oh, she shouldn’t do that. How can she?’ Because they attend the scenes. So, they can have an opinion. But they see what they see. They hear what they hear. I don’t have to explain anything. I just have to be there.”

 

As Angot proceeded to talk to others – including her mother, her former husband and her daughter – about her experience of having been raped by her father, she is “questioning” the status of a family in society, she says. Her intention was to say to her stepmother: “Let’s just talk together. One day we will all be dead. If there is something to say – and there is – it is now. You are the mother of my brother and sister. This problem of incest is not my problem, it is a problem you have too. That your son and daughter also have. It is not a problem for one person, it is a social problem.”

 

There is also an examination of the role of a father in the film. At one point someone comments that Angot was raped by a man, and she corrects them to say, “Not a man, my father.” It is not just that a father should be someone who protects the child and who should be trusted, she says. “If the person who rapes you is your father, it means that he doesn’t recognize you as his daughter, someone who should benefit from the taboo, from the interdiction that incest is forbidden. It is a protection for children that it is forbidden. He doesn’t respect this prohibition. So, it is a denial of his paternity to you. So, it is not only: ‘Oh I am being raped.’ It is that, but not only. It is: ‘I am not recognized as a human and social being in a society.’”

 

She says the reason her stepmother does not want to acknowledge what has happened, and “renounce” her husband is because she would jeopardize her respectability, and her standing in society. “What is the most important thing is not truth, what happened, a crime. The most important thing is keeping the respectability which they inherited from the strong member of the family, which was that man, her husband.”

 

Even though there were others who did not step forward to protect Angot, she acknowledges that each was held back in some way. “Everyone has their own story,” she says.

 

Angot does not agree with her stepmother’s view that she had exhibited aggressiveness when seeking to push her way into the apartment. “It is just a door which has always been closed, which began to open and which will be closed again for dozens of years, until we are all dead,” Angot says.

 

“What is this door? It is the door of the apartment – the place where talking is possible for just a few minutes. A door behind which the rapes, the incest has been committed. How can I let this door be closed again? It is too important.”

 

 

Read More

 

— Variety

Categories
Business Culture Economics Government Lifestyle Local News Perspectives Regulations & Security

NJ’s Project Labor Agreements discriminate against minority businesses and workers

By John E. Harmon Sr.
For USA Today

— In 2024, during Black History Month, the African American Chamber of Commerce is shining a spotlight on the racial disparities in New Jersey’s government procurement process.

New Jersey Statehouse rotunda. — Credits: Danielle P.

 

Recently, the Murphy Administration released a study that showed a “statistically significant disparity” when it comes to public contracts awarded to minority businesses.

 

In fact, according to the study, minority — African American businesses received less than half of 1% of $18.5 billion dollars the state awarded to contractors. A prime example of the disparity: Minority owned businesses represented 9.19% of the available construction businesses but received only 0.14% of the dollars on construction contracts valued from $65,000 to $5,710,000.

 

New Jersey has to fix its Project Labor Agreement policy

The release of the data contained in the Disparity Study helps to move stakeholders and the administration forward to find solutions. However, significant obstacles remain in the fairness of the state procurement process for minority- and women-owned businesses; the state’s Project Labor Agreement, or PLA, requirements, which inherently discriminate against non-union enterprises.

 

Since 2002, the State of New Jersey has allowed discriminatory PLAs to be placed on any public works contract over $5 million. PLAs discriminate against workers who are non-union, which is more than 78% of the construction workforce in the state. And an overwhelming 98% of all African American and Hispanic construction companies are non-union. Furthermore, at $5 million, New Jersey has the lowest threshold for PLAs for state works of any state in the country, meaning there are fewer and less lucrative projects for non-union and minority firms to bid on.

 

PLAs also come at a huge cost to New Jersey taxpayers. The most recent study conducted by the New Jersey Department of Labor and Workforce Development found that PLA projects costs were 30.5% higher than all non-PLA projects and they had a longer duration by approximately 22 weeks. Over 10 years have passed since this study was prepared, and not a single body or association has refuted the analyses and conclusions.

 

Unfortunately, some unions are pressuring local towns, such as Parsippany, Montclair and Brick, into passing ordinances to require PLAs on all public works projects in their municipalities and school districts. These ordinances are being passed with little input or knowledge to taxpayers, who will ultimately pay for artificially inflated construction costs contained in the PLAs. Despite false assurances from union officials with a vested interest in these discriminatory schemes, PLAs have been proven to be an expensive and deceptive practice that hurt taxpayers and discriminate against local and minority workers.

 

For example, last April, the New Jersey Superior Court Appellate Division ruled that the Delaware Joint Toll Bridge Commission “violated its fiduciary and legal duties” because it required a PLA for its project that resulted in just one bid at $69 million, or roughly 20% more than the estimated project cost. This is just one instance that shows how PLAs exclude qualified contractors and raise costs considerably for taxpayers.

New Jersey policy cannot discriminate a majority of its workers

If the Legislature is looking for solutions, they need to search no further. To ensure more of our public works contracts are afforded to minority- and women-owned businesses, New Jersey needs to increase the threshold from $5 million to $35 million so that our state is in alignment with the federal contracting levels as recently stipulated by President Joe Biden. The current PLA requirements discriminate against the majority of New Jersey’s workers and only benefits the union special interests.

 

Ensuring that taxpayer-funded construction projects are open to all workers who are paying for these projects with their own tax dollars is what is fair and equitable. Equal access to public works projects is the only way to ensure fair and equitable change for our state’s minority- and women-owned construction businesses.

 

 

— John E. Harmon Sr., IOM, founder, president and chief executive officer, African American Chamber of Commerce of New Jersey.

 

— Special to the USA TODAY Network

Categories
Business Digital - AI & Apps Economics International & World Lifestyle Regulations & Security Science Technology

Cenntro Electric Group Limited announces approval of the scheme of arrangement by the Supreme Court of New South Wales

FREEHOLD, N.J. — (BUSINESS WIRE) — Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading electric vehicle technology company with advanced, market-validated electric commercial vehicles, refers to the proposed scheme of arrangement in relation to which Cenntro will re-domicile from Australia to the United States (“U.S.“, the “Scheme”), and under which Cenntro will become a subsidiary of Cenntro Inc., a corporation incorporated in accordance with the laws of the state of Nevada for the purpose of effecting the Scheme.

 

Cenntro is pleased to announce that the Supreme Court of New South Wales, Australia (the “Court“) made orders approving the proposed Scheme on Friday, Feb. 16, 2024 (Australian Eastern Daylight Time, “AEDT“).

 

Cenntro further confirms that it has today lodged an office copy of the orders made by the Court approving the Scheme with the Australian Securities and Investments Commission (“ASIC“) pursuant to sub-section 411(10) of the Corporations Act 2001 (Cth), as a result of which the Scheme is now legally effective.

 

An office copy of the Court orders lodged with ASIC is attached at Annexure A to this press release.

 

Eligible Cenntro shareholders who hold Cenntro ordinary shares of the Company as at 7 p.m. (AEDT) on Thursday, Feb. 22, 2024 (the “Record Date“) will receive one share of common stock in Cenntro Inc. in exchange for every one ordinary share of the Company which such eligible Cenntro shareholder held as of the Record Date.

 

Next steps

An indicative timetable of the key milestones remaining under the Scheme is set out below:

Expected date*

Event

Thursday, February 22, 2024 at 7:00pm

Record Date – being the time and date for determining entitlements to Scheme consideration

Tuesday, February 27, 2024

Implementation date – being the date on which the Scheme will be implemented and Cenntro shareholders will receive the Scheme consideration which they are entitled to

Thursday, February 29, 2024

Commencement of dispatch to Eligible Cenntro shareholders of statements confirming the issue of common stock in Cenntro Inc.

 

*All dates and times listed in the table above are in AEDT and are indicative only and subject to change. Cenntro, in consultation with Cenntro Inc., may vary any or all of these dates and times and will provide reasonable notice of any such variation. Any changes will be announced by Cenntro to Nasdaq and published on Cenntro’s website at www.cenntroauto.com.

 

About Cenntro Electric Group Ltd.

Cenntro Electric Group Ltd. (NASDAQ: CENN) is a leading maker and provider of electric commercial vehicles (“ECVs”). Cenntro’s purpose-built ECVs are designed to serve a variety of commercial applications inclusive of its line of class 1 to class 4 trucks. Cenntro is building a globalized supply-chain, as well as the manufacturing, distribution, and service capabilities for its innovative and reliable products. Cenntro continues to evolve its products capabilities through advanced battery, powertrain, and smart driving technologies. For more information, please visit Cenntro’s website at: http://www.cenntroauto.com/.

 

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as “may,” “believe,” “anticipate,” “could,” “should,” “intend,” “plan,” “will,” “aim(s),” “can,” “would,” “expect(s),” “estimate(s),””project(s),” “forecast(s)”, “positioned,” “approximately,” “potential,” “goal,” “strategy,” “outlook” and similar expressions. Examples of forward-looking statements include, among other things, statements regarding assembly and distribution capabilities, decentralized production, and fully digitalized autonomous driving solutions. All such forward-looking statements are based on management’s current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. For additional risks and uncertainties that could impact Cenntro’s forward-looking statements, please see disclosures contained in Cenntro’s public filings with the SEC, including the “Risk Factors” in Cenntro’s Annual Report on Form 10K/A filed with the Securities and Exchange Commission on July 6, 2023 and which may be viewed at www.sec.gov.

Contacts

Investor Relations Contact:
Chris Tyson

MZ North America

CENN@mzgroup.us
949-491-8235

Company Contact:
PR@cenntroauto.com
IR@cenntroauto.com

Categories
Business Culture Economics International & World Lifestyle Perspectives Regulations & Security

AM Best upgrades Credit Ratings of CG United Insurance Ltd.; affirms Credit Ratings for most of Coralisle Group Ltd. subsidiaries

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) of CG United Insurance Ltd. (CG United) (Barbados).

 

The outlook of these Credit Ratings (ratings) has been revised to stable from positive. Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICRs of “a” (Excellent) for the life/health (L/H) and property/casualty (P/C) operating subsidiaries of Coralisle Group Ltd. (CG). The outlook of these ratings is stable. CG is a wholly owned intermediate holding company of Edmund Gibbons Limited, the ultimate parent company. All companies are domiciled in Bermuda, unless otherwise specified. (See below for a detailed listing of these companies).

 

The ratings reflect CG’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

 

On a consolidated basis, CG continues to demonstrate the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), supported by ample liquidity and fungibility of resources across the organization. Financial leverage was moderate in 2022, after the acquisition of CG United in May of 2022, which was partially financed with debt. This debt was fully repaid in 2023. Reinsurance capacity was severely constrained going into 2023, which drove an increase in retentions on proportional treaties. To secure appropriate excess of loss limits given the additional retentions, higher excess of loss deductibles were accepted.

 

These, combined with much higher property exposure after the CG United acquisition, materially increased reinsurance dependence. However, AM Best believes the program remains supportive of the overall balance sheet assessment.

 

CG’s year-end 2022 results were materially impacted by adverse investment results that more than offset otherwise favorable operating results. Despite the adverse net results in 2022, CG has reported consistent favorable operating and net results over the last five years driven by health and P/C lines. Reported premium growth has been strong over the last five years, and especially strong in 2022, as CG closed on its acquisition of CG United in May and included associated premiums for seven months. Growth in 2023 is expected to be strong with full year CG United results as large rate increases are realized throughout the property portfolio. Potential for volatility in earnings remains high due to catastrophe exposure and the risk of significant health reform in Bermuda.

 

The ratings of CG United reflect its increased strategic importance to CG and its substantially complete integration with the legacy business. This integration includes the rebranding of CG United in 2022, combined with reinsurance purchasing, the licensing of CG United entities to sell CG health products and cost synergies related to consolidation of core systems and processes.

 

The FSR of A (Excellent) and the Long-Term ICRs of “a” (Excellent) have been affirmed with stable outlooks, for the following subsidiaries of Coralisle Group Ltd.:

  • Coralisle Insurance (BVI) Ltd. (British Virgin Islands)
  • British Caymanian Insurance Company Limited (Cayman Islands)
  • Coralisle Insurance Company Ltd.
  • Coralisle Life Assurance Company Ltd.
  • Coralisle Medical Insurance Company Ltd.
  • CG Atlantic Medical & Life Insurance Ltd. (Bahamas)
  • CG Atlantic General Insurance Ltd. (Bahamas)

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

John McGlynn
Senior Financial Analyst
+1 908 882 2106
john.mcglynn@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Bridget Maehr
Director
+1 908 882 2080
bridget.maehr@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

Categories
Business Culture Economics Education Lifestyle News Now! Perspectives Programs & Events Regulations & Security

Affinity Federal Credit Union celebrates its first class of Certified Wellbeing Coaches

Coaches will support the wellbeing of Affinity members at each of its branches in NJ, NY and CT

 

 

BASKING RIDGE, N.J. — (BUSINESS WIRE) — Affinity Federal Credit Union (“Affinity”) proudly announces the graduation of its inaugural class of Certified Wellbeing Coaches. The program and its first graduates mark an important step in Affinity’s ongoing commitment to the financial wellbeing of its members.

 

The program’s 42 graduates represent various departments within Affinity. Each participant invested approximately 75 hours in training, learning about how to provide members with the best possible support in managing their personal finances and overcoming financial challenges. Course topics include credit, foreclosure, bankruptcy, taxes, insurance, identity theft, and the resources and tools available to support a member’s financial wellbeing. The program was inclusive of class attendance, presentations, homework, and tests.

 

“We are immensely proud to introduce our first class of Certified Wellbeing Coaches, who embody Affinity’s purpose of ‘people helping people’ within our communities,” said Kevin Brauer, CEO and President of Affinity Federal Credit Union. “By investing in the financial wellbeing of our members, we are not just helping them navigate financial challenges but are also empowering them to achieve their long-term goals. We look forward to the positive impact our Wellbeing Coaches will have on our members’ lives.”

 

Affinity also wants to highlight the work of four of its coaches who went above and beyond to meet the demands of the program. Top graduates of the inaugural class of Certified Wellbeing Coaches include Bedminster and Morristown Branch Manager Andrea Alfaro, Norwalk Branch Manager Juan Londono, Financial Services Accountant Lizandra Blanco, and Loss Mitigation Specialist Auria Torres.

 

Coaches are now available at all of Affinity’s branches in New Jersey, New York, and Connecticut, ensuring that every member has access to this invaluable resource. Appointments with Wellbeing Coaches can be made online at https://www.affinityfcu.com/financial-wellbeing/certified-wellbeing-coaches.

 

About Affinity Federal Credit Union

Affinity Federal Credit Union is a full-service financial institution, member-owned and community-focused, with a mission to nurture your financial wellbeing. With more than 20 branches across the tri-state area, Affinity is the largest credit union headquartered in the state of New Jersey, proudly ranking in the top 2% of all credit unions in terms of asset size1. The Affinity difference is about people helping people on a deeper level and understanding what YOU need to make your unique dreams a reality. For more information, please visit www.affinityfcu.com.

 

1 Source: NCUA.gov. Using the “Credit Union and Corporate Call Report Data” found here: https://www.ncua.gov/analysis/credit-union-corporate-call-report-data

Contacts

Rocco Aloe

Gregory FCA for Affinity Federal Credit Union

affinity@gregoryfca.com
610-860-2075

Categories
Digital - AI & Apps Government Lifestyle Regulations & Security Technology

FCC outlaws scam robocalls like fake, AI-created voices, now state AGs have legal tools to pursue illegal robocallers 

Brian Fung / CNN:

 

 

—  The Federal Communications Commission said Thursday it is immediately outlawing scam robocalls featuring fake, artificial intelligence-created voices, cracking down on so-called “deepfake” technology that experts say could undermine election security or supercharge fraud.

The unanimous FCC vote extends anti-robocall rules to cover unsolicited AI deepfake calls by recognizing those voices as “artificial” under a federal law governing telemarketing and robocalling.

The FCC’s move gives state attorneys general more legal tools to pursue illegal robocallers that use AI-generated voices to fool Americans, the FCC said.

 

“Bad actors are using AI-generated voices in unsolicited robocalls to extort vulnerable family members, imitate celebrities, and misinform voters,” said FCC Chairwoman Jessica Rosenworcel in a statement.

“We’re putting the fraudsters behind these robocalls on notice.”

The decision to interpret the 1991 Telephone Consumer Protection Act (TCPA) more broadly to include AI-generated voices comes weeks after a fake robocall that impersonated President Joe Biden targeted thousands of New Hampshire voters and urged them not to participate in the state’s primary.

Authorities said this week they had linked those fake calls to a Texas man and two companies in an ongoing investigation that could lead to civil and criminal penalties.

In its announcement Thursday, the FCC said those who wish to send robocalls “must obtain prior express consent from the called party before making a call that utilizes artificial or prerecorded voice simulated or generated through AI technology.”

With Thursday’s change, scam robocalls featuring cloned voices would be subject to the same fines and consequences associated with illegal robocalls that do not use the technology. The FCC had announced it was considering the proposal last week.

Violations of the TCPA can carry stiff civil penalties. In 2021, the FCC announced a $5 million proposed fine against right-wing operatives Jacob Wohl and Jack Burkman for allegedly using illegal robocalls to discourage voting in the 2020 election.

The number of robocalls placed in the US peaked at around 58.5 billion in 2019, according to estimates by YouMail, a robocall blocking service. Last year, the figure was closer to 55 billion.

As the FCC updates its interpretation of federal law, some US lawmakers have proposed revising the law directly to further deter illegal robocallers. House Democrats unveiled legislation this year that would double the TCPA’s maximum penalties when a robocall violation involves the use of AI.

 

 

Read More

 

 

— Techmeme

Categories
Business Education Lifestyle Regulations & Security

Best’s Review Global Insurance broker survey now accepting submissions

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best’s monthly magazine, Best’s Review, is asking for submissions to its annual Top Global Insurance Brokers ranking, which will be published in the July 2024 issue. Insurance brokerages will be ranked according to their 2023 total revenue.

 

Additional information about top lines of business and key business developments also will be included.

 

Companies of all sizes are encouraged to submit financial information. The Top 20 will be presented according to ranking; other companies that participate will follow in alphabetical order. Verifiable submissions will be published as space permits.

 

The deadline for submissions is April 15, 2024. Brokers may submit information online.

 

For further information or any questions about the ranking, please contact Best’s Review Editor Tom Davis and tom.davis@ambest.com or 1+ (732) 395-8956.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2024 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Tom Davis
Editor, Best’s Review
+1 732 395 8956

tom.davis@ambest.com

Categories
Business Culture Economics Healthcare Lifestyle Regulations & Security Technology

HMG unveils Compass340B as part of extensive rebranding initiative

PARSIPPANY, N.J. — (BUSINESS WIRE) — HMG Consulting Services, LLC. is rebranding to Compass340B, to better reflect what we do: offer a fleet of services and technologies that support 340B stakeholders in achieving their 340B program performance and compliance goals.

 

Compass340B is our customers’ 340B Navigator!

 

“During the formative HMG years, our focus was to build service offerings and tools to ensure they were effective, complementary, and customized to our customers’ needs. As Compass340B, we are keeping with our roots, and looking forward to rolling out our web-based technology that will automate compliance in the second half of 2024,” says Nathan Coney, Vice President Sales of Compass340B.

 

“The improved branding will provide a better understanding of the company’s mission, with enhanced customer experiences, valuable resources, and solutions for the 340B industry. This initiative will also encourage our customers and prospects to stay on top of their 340B program using Compass340B as their guide and our upcoming software to get them there,” Nathan adds.

 

About Compass340B:

HMG Consulting Services, LLC. dba Compass340B was founded in 2015 to support our diverse network in the Healthcare industries by providing solutions specializing in 340B Compliance, External Audits and Business Operations. We are dedicated to providing exceptional solutions to our business partners through three key pillars: Service, Experience, and Relationships.

 

To learn about Compass340B, visit us at www.Compass340B.com

Contacts

Nathan Coney

Vice President, Sales

nconey@compass340b.com

info@compass340b.com
Telephone: 888-819-4447

Categories
Business Culture Economics Education International & World Lifestyle Regulations & Security Technology

Byju’s files for Chapter 11 bankruptcy in Delaware, listing liabilities of $1B – $10B, assets from $500M – $1B for its US unit Alpha

Reuters:

 

— A U.S. unit of Indian education technology startup Byju’s has filed for Chapter 11 bankruptcy proceedings in the U.S. court of Delaware, listing liabilities in the range of $1 billion to $10 billion.
Byju’s Alpha unit listed its assets in the range of $500 million to $1 billion, according to a court filing, which showed estimated creditors in the range of 100 to 199.
The ed-tech company, founded by Byju Raveendran, was one of India’s hottest startups, valued at $22 billion in 2022, but has more recently seen lenders initiating bankruptcy proceedings against it. Some of Byju’s investors said the company’s valuation had fallen to between $1 billion and $3 billion.
Byju’s said on Monday it would raise $200 million through a rights issue of shares to clear “immediate liabilities” and for other operational costs.
It has also been negotiating the repayment of a $1.2 billion term loan in the last few months and laid off thousands of employees.
The firm has also been under the scanner of Indian authorities over alleged violations of the country’s foreign exchange laws.

 

 

Read More

 

 

Reporting by Kanjyik Ghosh; Editing by Arun Koyyur and Shilpi Majumdar

— Techmeme