Insurance Hike Request, $1.4B Rare-Earth Boost, Asia Trip

The North Carolina Rate Bureau has filed for a 68% increase in dwelling insurance rates, citing rising repair and replacement costs. A Durham-based rare-earth start-up has secured a $1.4 billion federal investment aimed at reducing U.S. dependence on Chinese minerals. State leaders have embarked on a trade mission to Asia to strengthen economic ties and attract new investment to North Carolina. Meanwhile, the Department of Transportation and FAA have announced flight reductions at 40 major U.S. airports due to the ongoing federal government shutdown.