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The Justice Department is investigating McKinsey & Company, the international consulting giant, for its role in helping drug companies maximize their sale of opioids. Since 2021, McKinsey has agreed to pay about $1 billion to settle investigations and lawsuits across the United States related to the firm’s work with opioid makers, principally Purdue Pharma, the maker of OxyContin. McKinsey recommended that Purdue “turbocharge” its sales of the drug in the midst of the opioid crisis, which has killed hundreds of thousands of Americans. News of the criminal investigation was first reported by The Wall Street Journal on Wednesday. Last year another opioid maker, Mallinckrodt, said it received a grand jury subpoena from the same U.S. attorney’s office but did not mention any connection to McKinsey.

Persons: Endo, Mallinckrodt Organizations: McKinsey & Company, U.S, Western, of, McKinsey, Purdue Pharma, Purdue “ turbocharge, Wall, The New York Times Locations: Massachusetts, of Virginia, Washington, United States

On the day the Francis Scott Key Bridge in Baltimore collapsed, President Biden said the federal government would pay the “entire cost” of rebuilding it, which some suggest could run to more than $1 billion. Washington will foot the bill so the bridge and nearby port can reopen “as soon as humanly possible,” he said. Rebuilding the bridge, repairing the cargo ship that hit it and compensating companies for the disruption at one of the nation’s busiest ports may take years to resolve. “We’re not going to wait,” said Mr. Biden, who plans to visit Baltimore on Friday to survey the damage. They cited an 1851 law that allows a shipowner to cap financial damages mostly to the value of a ship after a crash, if the owner is determined not to have been at fault.

Persons: Francis Scott Key, Biden, ”, “ We’re, Mr Organizations: Baltimore, Grace Ocean Private Ltd, Synergy Marine Locations: Baltimore, Washington, “, Singapore, U.S

“The tankers and cargo ships of 1950 aren’t the tankers and cargo ships of today,” said James Salmon, a spokesman for the Delaware River and Bay Authority. “It’s going to do a number on them,” he said of a modern ship and the hazard it poses to a bridge like the one in Baltimore. Image The new bridge ship collision protection system project on the Delaware Memorial Bridge will install eight stone-filled “dolphin” cylinders, each measuring 80 feet in diameter. Credit... Delaware River and Bay AuthorityThe situation with the Key Bridge is “unique,” said Jim Tymon, executive director of the American Association of State Highway and Transportation Officials, which represents state transportation departments. A protection system was subsequently built around the new pier.

Persons: ”, James Salmon, Francis Scott Key, Michael Rubino, don’t, Joseph Ahlstrom, It’s, “ It’s, Dali, hurtled, Jim Tymon, ” John Snyder, Pete Buttigieg, “, Paul, Gerald Desmond Bridge, Matt Gresham, Joong Kim, Michael Forsythe Organizations: Bay Authority, Port, SUNY Maritime College, New York State, American Association of State, Transportation, National Transportation Safety, Sunshine Skyway, Administration, Baltimore Sun, Union, National Oceanic, Atmospheric Administration, Liberty University Locations: Delaware, Bay, Baltimore, Port of Los Angeles, . Delaware, Maryland, Tampa Bay, Tampa, U.S, Minnesota, Union Pacific, St, New York, Bayonne, New Jersey, Staten Island, Long Beach, Calif, New Orleans, Mississippi, Port of New Orleans

Follow our live coverage of the Francis Scott Key Bridge collapse in Baltimore. But after the cargo ship Dali lost power early Tuesday, there were precious few minutes to act. In those minutes, many people — from the ship’s crew, who sent out a mayday signal, to the transportation authority police officers, who stopped traffic heading onto the Francis Scott Key Bridge — did what they could to avert catastrophe, most likely saving many lives. And the Key Bridge was particularly vulnerable. As long ago as 1980, engineers had warned that the bridge, because of its design, would never be able to survive a direct hit from a container ship.

Persons: Francis Scott Key, Dali Organizations: Eastern Seaboard Locations: Baltimore

☆ Apple CEO Tim Cook says company is 'investing significantly' in generative AI
▼ + stars: | 2024-02-28 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

The company sees "incredible breakthrough potential for generative AI, which is why we're currently investing significantly in this area," Cook said at Apple's annual shareholder meeting, which was held virtually. He also reframed several announced Apple products as "AI-powered," to emphasize that the company has been working on the technology for years. Current features that use Apple's AI technology include the Vision Pro's hand-tracking tool and Apple Watch's heart rate alerts, Cook said. At the meeting, Cook was not asked about the Apple Car project, which he'd previously called the "mother of all AI projects." The remarks came after Apple shareholders rejected a proposal that would compel the company to produce a report on AI risks.

Persons: Tim Cook, we're, Cook, Apple hasn't, Apple, he'd, Michael Forsythe, Wanda Austin, Al Gore, James Bell Organizations: Apple, Apple Watch, Employees, AFL, CNBC Locations: New York City

☆ Angela Chao, C.E.O. of Family’s Big Shipping Company, Dies at 50
▼ + stars: | 2024-02-14 | by ( Keith Bradsher | Michael Forsythe | ) www.nytimes.com time to read: +1 min

Angela Chao, the chief executive of a shipping company and part of a family prominent in American politics and business deals with China, died in a car crash on Sunday, in Texas. Ms. Chao had since 2018 been the chair and chief executive of the Chao family’s Foremost Group, which operates a global fleet of bulk carrier ships. Elaine Chao is married to Senator Mitch McConnell of Kentucky, the Senate Republican leader. The Chao family, led by Angela and Elaine Chao’s father, James S.C. Chao, stands out because of its deep political and commercial ties in both the United States and China. He moved to the United States in 1958 and helped found the Foremost Group in 1964.

Persons: Angela Chao, Chao, Elaine Chao, Donald J, Trump, George W, Bush, Mitch McConnell of, Angela, Elaine Chao’s, James S.C, . Chao, Jiang Zemin Organizations: Republican, Nationalists Locations: China, Texas, Mitch McConnell of Kentucky, United States, Taiwan, Shanghai

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