Latest news with #Cogburn
Business Insider
2 days ago
- Business
- Business Insider
'…Add That to Our Code of Conduct': Bank of America Stock (NYSE:BAC) Notches Up After Rule Change
The notion of 'debanking' someone—be it a person or group—is a downright dangerous one in America. It basically removes the ability to do business with a bank, which all but destroys a person or group's ability to earn money. And now, Bank of America (BAC) is turning away from such principles, and investors are pleased. Bank of America shares ticked up fractionally in Thursday morning's trading. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. A New York Post report noted that Bank of America has turned its back on a rule that allowed businesses and charities to be 'debanked.' There was a rule known as the 'reputational risk clause' built into some key federal banking regulations, which allowed banks to deny services to certain groups that engaged in behaviors that could damage the reputation of the institution providing them with banking services. Indeed, in some cases, a supplementary rule that focused on 'religious viewpoint' was also brought into play, which hit organizations from both sides. But many banks ultimately pulled the plug on reputational risk and the viewpoint rule, believing that the rule itself was illegal. And now, Bank of America is one of those. Bank of America reps noted, 'While we have been very clear that politics is not a factor in our decisions, we received thoughtful input from a range of stakeholders and agreed it is best to explicitly add that to our Code of Conduct. Religious views are not a factor in any account closing decision. Bank of America is proud to provide services to about 120,000 non-profits associated with religious organizations around the country.' Knock One Down, Another Takes its Place The legal hydra that Bank of America is left to face, meanwhile, continues to fight. While Bank of America may have settled the viewpoint rule, a new problem has emerged. Western District of North Carolina federal judge Max Cogburn Jr. dismissed a motion from Bank of America to dismiss a lawsuit against it alleging that it used '…forfeited retirement plan assets to offset its own contributions.' Cogburn noted that, while courts previously have '…come to different conclusions…' about what actually qualifies as a 'fiduciary breach' under the Employee Retirement Income Security Act, the plaintiffs in the suit had '…adequately alleged the bank breached their fiduciary duties by using Plan assets to lower new employee contributions.' Is Bank of America a Buy, Sell or Hold? Turning to Wall Street, analysts have a Strong Buy consensus rating on BAC stock based on 17 Buys and three Holds assigned in the past three months, as indicated by the graphic below. After a 21.04% rally in its share price over the past year, the average BAC price target of $52.60 per share implies 10.85% upside potential.
Associated Press
18-06-2025
- Business
- Associated Press
Primary Hydrogen Corp Engages Eastern Geo Services To Advance Newfoundland And Labrador Projects
CALGARY, AB / ACCESS Newswire / June 18, 2025 / Primary Hydrogen Corp. (TSXV:HDRO)(FRA:83W0(OTCQB:HNATF) ('Primary' or the 'Company') is pleased to announce the engagement of Eastern Geo Services Inc. (EGS) to support the Company's upcoming Newfoundland and Labrador exploration programs. The Company is fully funded for its 2025 natural hydrogen exploration program across Canada. 'As we are preparing for the summer 2025 field season in Newfoundland and Labrador, Primary has partnered with the experienced consultants, Eastern Geo Services, who will greatly aid in our soil gas sampling programs,' stated Benjamin Asuncion, CEO of Primary Hydrogen Corp. " The initial sampling program will employ sampling techniques designed and tested by INRS to minimize artificially produced hydrogen.' About Eastern Geo Services Inc. Eastern Geo Services Inc. is a geological and environmental consulting firm based in Atlantic Canada. The company provides services in field data collection, GIS and mapping, mineral exploration support, and environmental site work. Their team supports a wide range of projects, from resource development to environmental assessments, across the mining, construction, and government sectors. About Primary Hydrogen Corp. Primary Hydrogen is dedicated to the exploration and development of natural hydrogen resources. With over 740 acres in the U.S. and 230 square kilometers across Canada, the Company's portfolio includes the Blakelock, Hopkins, Mary's Harbour, Point Rosie, Crooked Amphibolite, Coquihalla, and Cogburn projects. Primary also holds the Arthur Lake copper project in British Columbia and has an option to acquire a 75% interest in a hydrogen-REE project known as Wicheeda North, also located in British Columbia. -- FOR FURTHER INFORMATION PLEASE CONTACT: Ben Asuncion Chief Executive Officer Primary Hydrogen Corp. Email: [email protected] Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION This news release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian securities legislation. Such statements include, but are not limited to, statements regarding: (i) the Company's plans for its 2025 natural hydrogen exploration program in Newfoundland and Labrador; (ii) the expected scope, timing, and execution of the soil gas sampling program by Eastern Geo Sciences; (iii) the anticipated effectiveness of the sampling techniques in limiting artificially produced hydrogen; and (iv) the expected efficiency and timeliness of the exploration program due to the engagement of a local consultant. Forward-looking statements are often identified by words such as 'plans,' 'expects,' 'anticipates,' 'will,' or similar expressions. These statements are based on certain assumptions, including but not limited to: the availability of sufficient funding to complete the planned exploration program; the accuracy of estimated timelines and costs for exploration activities; the effectiveness of the sampling techniques as tested by INRS; the ability of Eastern Geo Sciences to perform the sampling program as planned; and the absence of unforeseen operational, regulatory, or environmental obstacles. These forward-looking statements are subject to significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Such risks include, but are not limited to: unexpected delays or cost overruns in the exploration program; challenges in obtaining necessary permits or approvals; variations in the performance or availability of Eastern Geo Sciences; limitations in the effectiveness of the sampling techniques; environmental or weather-related disruptions affecting fieldwork; and general economic, market, or industry conditions. Additional risks are discussed in the Company's most recently filed management's discussion and analysis, available under the Company's SEDAR+ profile at Although the Company believes that the assumptions and expectations reflected in the forward-looking statements are reasonable based on the experience of its management, current conditions, and expected future developments, there can be no assurance that such statements will prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements or information, as actual results and future events could differ materially from those anticipated. The Company does not undertake to update any forward-looking statements or information, except as required by applicable securities laws. SOURCE: Primary Hydrogen Corp. press release
Yahoo
30-04-2025
- Business
- Yahoo
Proposed bill in Nevada Legislature would raise liability insurance for intrastate truck companies
LAS VEGAS (KLAS) — A new bill being discussed at the Nevada Legislature is trying to raise liability insurance for intrastate truck companies. The increase would go from $750,000, which is the federal standard, to $1.5 million by 2030. Las Vegas residents in the trucking business are fearful that this will ultimately affect their bottom line. Nenad Mitrovic, owner of Desert Eagle Transportation LLC told 8 News Now that if the bill goes through, he will most likely move his business. 'I really think it's going to affect a lot of small businesses, and a lot of people are going to have to move out of Nevada and close down because they won't be able to stay profitable anymore,' Mitrovic shared. In the Senate's Growth and Infrastructure Committee meeting, that same sentiment was addressed by Senator Carrie Buck. 'It seems to punish Nevada owned businesses and I don't see why it wouldn't prevent them from going and opening up shop in another state that doesn't have this provision,' Senator Buck added. Ultimately, the bill passed in an 11 to 10 vote. Jamie Cogburn with the Nevada Justice Association was in favor of the bill. He says that with inflation and the cost of living being so high, the increase is necessary. 'Medical cost have skyrocketed during this time frame so this is a modernization,' Cogburn told 8 News Now. 'When you're talking about these kinds of crashes, they are not little fender benders or crashes where a lot of people walk away from.' While medical costs have risen all across the country, Cogburn also noted that Nevada has seen an influx of truck crashes in the past decade. 'When you look at the statistic from the National Highway Traffic Safety Administration from 2011-2021, Nevada has doubled in the number of fatalities in trucking crashes,' he shared. If Senate Bill 180 is passed by both the Senate and the Assembly, it will move to Governor Lombardo's office for final approval. Nevada would join New Jersey in being the only other state to pass this law. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
