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      S.E.C. to Approve New Climate Rules Far Weaker Than Originally Proposed

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      The rules, designed to inform investors of business risks from climate change, were rolled back amid opposition from the G.O.P., fossil fuel producers, farmers and others.The Securities and Exchange Commission is expected on Wednesday to approve new rules detailing if and how public companies should disclose climate risks and how much greenhouse gas emissions they produce, but there are fewer demands on businesses than the original proposal made about two years ago.The rules represent a step toward requiring corporations to inform investors of both their climate emissions, as well as the business risks that they face from floods, rising temperatures and weather disasters. An earlier and more all-encompassing proposal faced outspoken Republican backlash and opposition from a range of companies and industries, including fossil fuel producers.The main difference: Under the original proposal, large companies would have been required to disclose not just planet-warming emissions from their own operations, but also emissions produced along what’s known as a company’s “value chain” — a term that encompasses everything from the parts or services bought from other suppliers, to the way that people who use the products ultimately dispose of them. Pollution created all along this value chain could add up.Now, that requirement is gone.In addition, the biggest companies will have to report the emissions they directly produce, but only if the companies themselves consider the emissions “material,” or of significant importance to their bottom lines, a qualification that leaves corporations leeway. Thousands of smaller businesses are exempt, another big change from the original proposal, which would have required all publicly traded corporations to disclose their direct emissions.Also gone from the final rules is a requirement that companies state the climate expertise of members on their board of directors.But the directive for companies to disclose significant risks related to climate change — for example, risks to waterfront properties owned by a hotel chain from rising sea levels and storm surges — survived.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Bitcoin Hits Record High, Recovering From 2022 Meltdown

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      Bitcoin’s price surged above $68,800, breaking the record the digital currency set in November 2021 when the crypto industry was booming.Bitcoin hit a record high of about $68,800 on Tuesday, capping a remarkable comeback for the volatile cryptocurrency after its value plunged in 2022 amid a market meltdown.Bitcoin’s price has risen more than 300 percent since November 2022, a resurgence that few predicted when the price dropped below $20,000 in 2022. Its previous record was just under $68,790 in November 2021, as crypto markets boomed and amateur investors poured savings into experimental digital coins.“This is just the beginning of this bull market,” said Nathan McCauley, the chief executive of the crypto company Anchorage Digital. “The best is yet to come.”Bitcoin’s recent surge has been driven by investor enthusiasm for a new financial product tied to the digital coin. In January, U.S. regulators authorized a group of crypto companies and traditional finance firms to offer exchange-traded funds, or E.T.F.s, which track Bitcoin’s price. The funds provide a simple way for people to invest in the crypto markets without directly owning the virtual currency.As of last week, investors had poured more than $7 billion into the investment products, propelling Bitcoin’s rapid rise, according to Bloomberg Intelligence.The price of Ether, the second-most-valuable digital currency after Bitcoin, has also risen this year. Its increase has been driven partly by enthusiasm over the prospect that regulators may also approve an E.T.F. tied to Ether.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      SEC Is Investigating OpenAI Over Its Board’s Actions

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      The U.S. regulator opened its inquiry after the board unexpectedly fired the company’s chief executive, Sam Altman, in November.The Securities and Exchange Commission began an inquiry into OpenAI soon after the company’s board of directors unexpectedly removed Sam Altman, its chief executive, at the end of last year, three people familiar with the inquiry said.The regulator has sent official requests to OpenAI, the developer of the ChatGPT online chatbot, seeking information about the situation. It is unclear whether the S.E.C. is investigating Mr. Altman’s behavior, the board’s decision to oust him or both.Even as OpenAI has tried to turn the page on the dismissal of Mr. Altman, who was soon reinstated, the controversy continues to hound the company. In addition to the S.E.C. inquiry, the San Francisco artificial intelligence company has hired a law firm to conduct its own investigation into Mr. Altman’s behavior and the board’s decision to remove him.The board dismissed Mr. Altman on Nov. 17, saying it no longer had confidence in his ability to run OpenAI. It said he had not been “consistently candid in his communications,” though it did not provide specifics. It agreed to reinstate him five days later.Privately, the board worried that Mr. Altman was not sharing all of his plans to raise money from investors in the Middle East for an A.I. chip project, people with knowledge of the situation have said.Spokespeople for the S.E.C. and OpenAI and a lawyer for Mr. Altman all declined to comment.The S.E.C.’s inquiry was reported earlier by The Wall Street Journal.OpenAI kicked off an industrywide A.I. boom at the end of 2022 when it released ChatGPT. The company is considered a leader in what is called generative A.I., technologies that can generate text, sounds and images from short prompts. A recent funding deal values the start-up at more than $80 billion.Many believe that generative A.I., which represents a fundamental shift in the way computers behave, could remake the industry as thoroughly as the iPhone or the web browser. Others argue that the technology could cause serious harm, helping to spread online disinformation, replacing jobs with unusual speed and maybe even threatening the future of humanity.After the release of ChatGPT, Mr. Altman became the face of the industry’s push toward generative A.I. as he endlessly promoted the technology — while acknowledging the dangers.In an effort to resolve the turmoil surrounding Mr. Altman’s ouster, he and the board agreed to remove two members and add two others: Bret Taylor, who is a former Salesforce executive, and former Treasury Secretary Lawrence H. Summers.Mr. Altman and the board also agreed that OpenAI would start its own investigation into the matter. That investigation, by the WilmerHale law firm, is expected to close soon. More

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      Today’s Top News: The Growing 2024 G.O.P. Field, and More

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      The New York Times Audio app includes podcasts, narrated articles from the newsroom and other publishers, as well as exclusive new shows — including this one — which we’re making available to readers for a limited time. Download the audio app here.The Headlines brings you the biggest stories of the day from the Times journalists who are covering them, all in about 10 minutes. Hosted by Annie Correal, the new morning show features three top stories from reporters across the newsroom and around the world, so you always have a sense of what’s happening, even if you only have a few minutes to spare.From left: Former Gov. Chris Christie of New Jersey, former Vice President Mike Pence and Gov. Doug Burgum of North Dakota.Charles Krupa/Associated Press, Alex Brandon/Associated Press, Mike Mccleary/The Bismarck Tribune, via Associated PressOn Today’s Episode:The U.S. and Russia Say a Major Ukrainian Operation Has Begun, with our Ukraine correspondent Thomas Gibbons-NeffS.E.C. Accuses Binance of Mishandling Funds and Lying to Regulators, with our finance reporter Emily FlitterThe 2024 G.O.P. Field Balloons This Week, Adding Three New Candidates, with our national correspondent Trip GabrielEli Cohen More

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      Lies, Charges and Questions Remaining in the George Santos Scandal

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      Representative George Santos of New York was indicted this week by federal prosecutors on 13 felony counts largely tied to financial fraud. Almost immediately after his election in November, The New York Times began scrutinizing his background. Mr. Santos has misled, exaggerated to or lied to voters about much of his life, including his education; […] More