Latest news with #MeganVarner
Business Mayor
23-05-2025
- Business
- Business Mayor
Nuclear stocks rally on report Trump will sign executive orders to support industry
Cooling towers are seen at the nuclear-powered Vogtle Electric Generating Plant in Waynesboro, Georgia, on Aug. 13, 2024. Megan Varner | Reuters Nuclear power stocks surged Friday on a report that President Donald Trump will sign executive orders to speed the construction of reactors and secure key materials for the industry. Advanced reactor companies Oklo and NuScale jumped more than 25% and 18%, respectively. Constellation Energy , the largest nuclear operator in the U.S., was up more than 1%. Cameco Corp. , one of the biggest uranium miners in the world, rose about 8%. Trump could sign the orders as early as Friday, sources familiar with the matter told Reuters. The president is scheduled to sign orders in the Oval Office at 1 p.m. ET, according to the White House schedule. Trump will invoke the Defense Production Act to declare a national emergency due to U.S. dependence on Russia and China for enriched uranium, nuclear fuel processing and inputs for advance reactors, according to a draft summary viewed by Reuters. The president is also expected to direct federal agencies to permit and site new nuclear facilities, according to Reuters. He will also order the Departments of Energy and Defense to identify federal land and facilities where nuclear can be deployed and streamline the process to build them, Reuters reported. READ SOURCE
The Star
19-05-2025
- Business
- The Star
Delta can sue CrowdStrike over computer outage that caused 7,000 canceled flights
FILE PHOTO: People speak to Delta agents as they try to rebook their travel plans after long delays following cyber outages affecting airlines at Hartsfield-Jackson Atlanta International Airport in Atlanta, Georgia, U.S., July 22, 2024. REUTERS/Megan Varner/File Photo (Reuters) -Delta Air Lines can pursue much of its lawsuit seeking to hold cybersecurity company CrowdStrike liable for a massive computer outage last July that caused the carrier to cancel 7,000 flights, a Georgia state judge ruled. In a decision on Friday, Judge Kelly Lee Ellerbe of the Fulton County Superior Court said Delta can try to prove CrowdStrike was grossly negligent in pushing a defective update of its Falcon software to customers, crashing more than 8 million Microsoft Windows-based computers worldwide. "Delta has specifically pled that if CrowdStrike had tested the July update on one computer before its deployment, the programming error would have been detected," the judge wrote. "As CrowdStrike has acknowledged, its own president publicly stated CrowdStrike did something 'horribly wrong.'" The Atlanta-based judge also let Delta pursue a computer trespass claim, and a narrowed claim that CrowdStrike fraudulently promised not to introduce an "unauthorized back door" into the carrier's computers. In a statement on Monday, CrowdStrike's lawyer Michael Carlinsky said he was confident the judge will find Delta's case has no merit, or will limit damages to the "single-digit millions of dollars" under Georgia law. Delta, based in Atlanta, said it was pleased with the decision and remained confident in the merits of its case. The carrier sued Austin, Texas-based CrowdStrike three months after the July 19, 2024 outage disrupted travel for 1.4 million Delta passengers. Delta has said the outage cost $550 million in lost revenue and added expenses, offset by $50 million of fuel savings. On May 6, a federal judge in Atlanta said Delta must face a proposed class action by passengers whose said it unlawfully refused full refunds after the outage upended their travel. The outage also disrupted other airlines, but those disruptions eased faster. The case is Delta Air Lines Inc v CrowdStrike Inc, Georgia Superior Court, Fulton County, No. 24CV013621. (Reporting by Jonathan Stempel in New YorkEditing by Nick Zieminski)
