NEW YORK — Shares of U.K. chip designer Arm Holdings rose almost 25% in their stock market debut, in the largest initial public offering of shares in nearly two years. The shares closed at $63.59, giving Arm a market value of $68 billion. Most consumers use at least one product that contains Arm’s chips, though many people may not be familiar with the company itself. Its chip design is used in virtually all smartphones, the majority of tablets and digital TVs.
LOS ANGELES — Environmental groups are calling on federal regulators to immediately shut down one of two reactors at California’s last nuclear power plant. Friends of the Earth and Mothers for Peace say in a petition filed Thursday that tests are needed on critical machinery that they believe could fail and cause a catastrophe. At issue is the condition of the pressure vessel in a reactor at the Diablo Canyon Nuclear Power Plant.
WASHINGTON — States and Native American tribes will have greater authority to block energy projects such as natural gas pipelines that could pollute rivers and streams under a final rule issued Thursday by the Biden administration. The rule taking effect in November reverses a Trump-era action that limited the ability of states and tribes to review pipelines, dams and other federally regulated projects within their borders.
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