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FTC investigates ChatGPT creator OpenAI over consumer protection concerns
The United States Federal Trade Commission has launched an investigation into the creator of ChatGPT OpenAI and whether the artificial intelligence company violated consumer protection laws by deleting public data and posting false information through its chatbot. The agency sent OpenAI a 20-page letter requesting detailed information about its AI technology, products, customers, privacy guarantees and data security provisions. An FTC spokesperson had no comment on the investigation, which was first reported by The Washington Post, which published the letter online. OpenAI founder Sam Altman tweeted his disappointment that the investigation was disclosed in a “leak”, but added that the company would work with the FTC.
Microsoft nears completion of $69 billion Activision takeover after court pushes back regulators
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A U.S. appeals court has rejected a bid by federal regulators to stop Microsoft from completing its $68.7 billion deal to buy video game maker Activision Blizzard. The decision paves the way for the biggest acquisition in tech history after a legal battle over whether it will harm competition. In a brief ruling on Friday, a three-judge panel at the Ninth Circuit Court of Appeals found there was no reason to issue an order that would have prevented Microsoft from completing its nearly 18-month deal to take over the popular video maker. games like Call of Duty.
The story behind Barbenheimer, the most online cinematic showdown of the summer
The very online confrontation between “Barbie” by Greta Gerwig and “Oppenheimer” by Christopher Nolan began with a date: July 21. , the earnest image of the man who oversaw the development of the atomic bomb and the light-hearted, colorful anthropomorphization of a childhood doll has quickly gone viral. There are even the biggest stars in the world promoting other films. The consensus is that “Barbenheimer” is good for everyone – movies, theaters and business.
JPMorgan’s second-quarter profit jumps 67% on First Republic takeover
JPMorgan Chase says its second-quarter profits rose 67% as the nation’s largest bank extended more loans to customers and benefited from higher interest rates and its recent acquisition of First Republic. JPMorgan said Friday it earned $14.5 billion in the three months ended June 30, compared with a profit of $8.65 billion in the same period a year earlier. On a per share basis, the bank earned $4.75 per share. Revenue reached $42.4 billion. The results exceeded Wall Street forecasts.
Why allowing Ukraine to ship grain during the war from Russia matters to the world
LONDON (AP) — The deals the United Nations and Turkey brokered with Ukraine and Russia to allow food and fertilizer to flow from countries at war to parts of the world where millions are suffering hunger have allayed concerns about global food security. But they face growing risks. Moscow stepped up its rhetoric, saying it could not extend the deal which expires on Monday unless its demands are met. This includes ensuring that his own agricultural expeditions do not encounter obstacles. The Black Sea Grain Initiative has enabled the export of 32.8 million metric tons of grain from Ukraine since last August, more than half of which to developing countries.
Stock market today: A turbulent week for Wall Street ends with a calm and mixed end
NEW YORK (AP) — Another winning week for Wall Street ended quietly after earnings reports from several major U.S. companies beat expectations. The S&P 500 fell 0.1% on Friday, coming off its highest close since April 2022. The Dow Jones rose 113 points, or 0.3%, and the Nasdaq slipped 0.2%. UnitedHealth Group jumped after reporting higher-than-expected earnings. JPMorgan Chase and Wells Fargo also rose in the morning after their earnings reports, but lost momentum like the rest of the market as the day progressed. The S&P 500 still marked its seventh winning week in the past nine.
US sends F-16 fighter jets to protect ships from Iranian seizures in Gulf region
WASHINGTON (AP) — A senior defense official said the United States is boosting its use of fighter jets around the strategic Strait of Hormuz to protect ships from Iranian seizures. The official said the United States was increasingly concerned about growing ties between Iran, Russia and Syria in the Middle East. The official told reporters that the United States would send F-16 fighter jets to the Gulf region this weekend to reinforce A-10 attack jets that have been patrolling there for more than a week. The move comes after Iran tried to seize two tankers near the strait last week, opening fire on one of them.
GOP attorneys general shift battle to affirmative action in the workplace
NEW YORK (AP) — Thirteen Republican state attorneys general are warning the CEOs of America’s 100 largest companies about the legal ramifications of using race as a factor in hiring and employment practices. This decision shows how the recent Supreme Court ruling dismantling affirmative action in higher education can impact the workplace. State attorneys general sent a letter to CEOs on Thursday arguing that the controversial June ruling declaring race cannot be a factor in college admissions could also apply to private entities, such as employers. . Some legal experts note, however, that the court’s ruling applies to higher education institutions and other entities that receive federal funding and does not directly change the obligations of private employers.
IRS says it collected $38 million from more than 175 high-income tax offenders
WASHINGTON (AP) — The IRS is showcasing its new ability to aggressively audit high-income tax evaders as it pleads for sustained funding and tries to avoid budget cuts sought by Republicans who want to dump the agency. IRS leaders explained how they removed $38 million in overdue taxes from more than 175 high-income taxpayers in recent months. In one case, an individual used money he owed the government to buy a Maserati and a Bentley. And about 100 high-income people have been discovered claiming benefits in Puerto Rico without meeting residency requirements.
Microsoft gets more time from UK to make case for takeover of video game maker Activision
LONDON (AP) — British antitrust regulators have extended their deadline to issue a final order blocking Microsoft’s $69 billion plan to buy video game maker Activision Blizzard. They said on Friday it would give them more time to consider the US tech giant’s “detailed and complex submission” arguing its case. The Competition and Markets Authority had rejected the agreement, which was to be the largest in the history of technology. They feared it would stifle competition for popular titles like Call of Duty in the growing cloud gaming market. But the British watchdog appears to have softened its stance after a judge thwarted efforts by US regulators to block the deal. The authority says it has pushed back its deadline to August 29.
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