OpenAI reaches new agreement with Microsoft
OpenAI has reached a new tentative agreement with Microsoft and said its nonprofit, which technically controls its business, will now be given a $100 billion equity stake in its for-profit corporation. The maker of ChatGPT said it had reached a new nonbinding agreement with Microsoft, its longtime partner, “for the next phase of our partnership.” [...]
Nvidia violated antimonopoly laws, China says
LONDON (AP) — China has accused Nvidia of violating the country’s antimonopoly laws and said it would step up scrutiny of the world’s leading chipmaker, escalating tensions with Washington as the two countries hold trade talks this week. Chinese regulators said a preliminary investigation found that Nvidia didn’t comply with conditions imposed when it purchased [...]
Feds sue Uber over alleged discrimination
The federal government last week said it is suing Uber for allegedly discriminating against passengers with disabilities. The Department of Justice said Uber drivers routinely refuse to serve individuals with disabilities, including those with service dogs. Uber is the largest ride-hailing company in the United States. The lawsuit alleges that Uber drivers have charged illegal [...]
U.S. says deal reached on TikTok, but details are few
WASHINGTON (AP) — A framework deal has been reached for the ownership of the popular social video platform TikTok, Treasury Secretary Scott Bessent said after weekend trade talks between the United States and China in Spain. Bessent said in a press conference after the latest round of trade talks between the world’s top two economies [...]
Mortgage rate declines to 6.35%, the lowest level in nearly a year
The average rate on a 30-year mortgage last week fell to its lowest level in nearly a year, reflecting a pullback in Treasury yields ahead of an expected interest rate cut from the Federal Reserve this week. The long-term rate last week eased to 6.35 percent from 6.5 percent the previous week, according to mortgage [...]
Senate Republicans move to change rules so nomination process could be accelerated
WASHINGTON (AP) — Senate Republicans last week took the first steps to change the chamber’s rules, attempting to make it easier to confirm groups of President Donald Trump’s nominees after last-minute negotiations with Democrats fell apart. Senate Majority Leader John Thune’s move is the latest salvo after a dozen years of gradual changes by both [...]
Justice Kavanaugh says no person, group has too much power in American system
WACO, Texas (AP) — U.S. Supreme Court Justice Brett Kavanaugh says the genius of the American system of government is that no one should have too much power, even as he and some other justices on the Supreme Court are facing criticism for deferring repeatedly to President Donald Trump. Invoking the list of grievances against [...]
FTC launces inquiry into AI chatbots acting as companions and their effects on children
The Federal Trade Commission has launched an inquiry into several social media and artificial intelligence companies about the potential harms to children and teenagers who use their AI chatbots as companions. The FTC last week said it has sent letters to Google parent Alphabet, Facebook and Instagram parent Meta Platforms, Snap, Character Technologies, ChatGPT maker [...]
Dick’s completes acquisition of Foot Locker
Dick’s Sporting Goods last week announced it has completed its acquisition of Foot Locker Inc. When the proposed acquisition was announced in May, Dick’s stated the transaction had an equity value of $2.4 billion, according to a news release. As part of the deal, Foot Locker shareholders may elect to receive either $24 in cash [...]