National business

The Bank of England says the U.K. financial system is prepared for a no-deal Brexit, though uncertainties about the country’s withdrawal from the European Union continue to weigh on economic activity.The bank’s Financial Policy Committee, which assesses financial risks, said Wednesday that legislation, temporary permissions and other preparations by British authorities have been made to “ensure that households and businesses will be able to use existing and new services from EU financial institutions.”However, it warned that without further action by EU authorities, “some disruption to cross-border financial services in the event of a no-deal Brexit is possible.”It also said that in a disorderly Brexit, demand for U.K. assets could be expected to “fall sharply, depreciating (the pound) and tightening financial conditions for U.K. households and businesses.” … [Read more...] about Bank of England: financial sector ready for no-deal Brexit

A small home-improvement company in West Virginia is taking on the nation’s opioid giants in a lawsuit blaming the drugmakers for a rise in insurance costs.The handymen at Al Marino Inc. filed the federal class-action suit last week in U.S. District Court against Purdue Pharma, Johnson & Johnson and a host of other companies.The case claims the drug businesses created a public health crisis that increased the need for expensive medical treatments, leading to skyrocketing health insurance costs in West Virginia. It seeks unspecified damages.Purdue and Johnson & Johnson didn’t return emailed requests for comment. Al Marino Inc. serves six counties in southern West Virginia with plumbing, electrical and other general home-improvement work.The lawsuit is one of thousands seeking to hold the drug industry accountable for an opioid crisis that has killed more than 400,000 people over the past two decades. A potentially multibillion-dollar settlement deal involving more … [Read more...] about Opioid makers’ latest legal woe: West Virginia handyman

South Carolina is allowing Google to cool its servers by pumping nearly 550 million gallons of water annually from a declining aquifer.The State reports the Health and Environmental Control Department approved a groundwater permit on Wednesday that runs through 2023.Google promised to be sustainable and touted its nearly $2 billion investment in the region.But critics said Google shouldn’t be allowed to draw from the dwindling drinking-water supply. Clay Duffie, Mount Pleasant Waterworks manager, said Google should get its water from rivers, not “pristine” groundwater.The Post and Courier reported that the water would flow into the sewage system after cooling the servers. Returning water to an aquifer is costly. But there are alternatives: The National Security Agency cools its massive data center in Maryland with treated wastewater.___Information from: The State, http://www.thestate.com … [Read more...] about South Carolina: Google can pump drinking water for servers

The Environmental Protection Agency is proposing a major overhaul of rules on lead contamination in drinking water, including tightening testing requirements at the nation’s schools and day care centers.But critics say another change would give utilities decades more to fully replace lead pipes in water systems with high lead.EPA Administrator Andrew Wheeler on Thursday announced the proposed changes to controls on lead contamination in drinking water systems.The EPA called it the biggest rule overhaul since the 1990s for lead water pipes, which can leach toxins into water and poison children. The changes would follow lead crises in Flint, Michigan; Newark, New Jersey; and elsewhere. Proposals include requiring water suppliers to test for lead at schools and day care centers. … [Read more...] about EPA proposes upping lead testing at schools in rule overhaul

The president of the European Council has called on Turkey to stop illegal drilling off the coast of Cyprus, saying it’s harming efforts to reunify the ethnically split island nation and undermines good relations with the EU.Donald Tusk said Friday that his presence in the Cypriot capital is a demonstration of the European Union’s “full solidarity” with Cyprus.He said EU leaders have already “strongly condemned” Turkey’s drilling inside waters where Cyprus has exclusive economic rights and that the EU “stands united” with the country in light of Turkey’s latest actions.Last week, Turkey stepped up its actions by dispatching a warship-escorted drill ship in waters where the Cypriot government licensed Italian energy company Eni and partner Total of France to conduct an oil and gas search. … [Read more...] about EU Council chief calls on Turkey to stop drilling off Cyprus