Happy Wednesday! In this week's Big I Buzz, we discuss the FTC's vote to ban noncompete agreements and the prediction of an active 2024 hurricane season.

FTC Votes to Ban Noncompete Agreements

On Tuesday, the Federal Trade Commission (FTC) voted 3-2 to ban noncompete agreements, which restrict employees from working for competitors or launching rival businesses upon leaving a job. Under the final rule, new noncompete agreements would be banned for all employees, and companies must inform current and former employees that these agreements won't be enforced. Additionally, companies will need to invalidate existing noncompete agreements for most employees, although there's a departure from the initial proposal as these agreements may still apply to senior executives. The U.S. Chamber of Commerce has said it will sue to block the rule. Read more here.

'Extremely Active' Hurricane Season Predicted for 2024

The 2024 hurricane season is forecasted to be exceptionally active, according to forecasters at Colorado State University. Predictions indicate an above-average number of hurricanes and named storms. Factors contributing to this outlook include warmer-than-average sea surface temperatures and reduced wind shear. The increased activity could pose significant risks to coastal communities and industries. Authorities advise preparedness measures and vigilance to mitigate potential damage and ensure public safety. Read more here.

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