High-risk artificial intelligence technology (AI) may soon be banned in Australia after the federal government announced it will move to establish guardrails around its growth. Minister for Industry and Science Ed Husic said that despite AI now being a prevalent part of people’s lives, he said there was a demand for some sort of regulation…
Australia Considers Ban of High Risk AI
June 2, 2023
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More Subliminal Manipulation: Expert Warns AI’s Spread Will Supercharge Consumerism
June 2, 2023
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AIartificial intelligenceAustraliaBusiness & MarketsChatGPTInternationalMuzakpersonal financesubliminal manipulationTechTech NewsWorld
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Rampant consumerism could get a shot in the arm as artificial intelligence keeps breaking boundaries, says music expert Peter Tregear. Tregear, the director of Little Hall at the University of Melbourne, says AI-generated music will likely proliferate even further to permeate people’s lives. Already, this type of music is available online and can be found…
Aussie Mining Giant BHP Admits to Underpaying Almost 30,000 Workers
One of Australia’s leading mining companies, BHP, has admitted to underpaying 28,500 Australian workers’ allowances and entitlements dating back to 2010. In a June 1 statement, the company said a preliminary review suggested that former and current workers were incorrectly deducted six days’ leave on average during the 13-year period. “In addition, BHP has identified…
Stock Market Today: Wall Street Rises With Hopes for Pause to Rate Hikes
NEW YORK—Wall Street rose Thursday with hopes that the Federal Reserve may soon take it easier on its hikes to interest rates. The S&P 500 rallied 1 percent after a suite of reports painted a picture of a split U.S. economy. The job market remains solid, but manufacturing is weakening and retailers are seeing shoppers…
Australia’s Housing Market Regains Momentum With Third Consecutive Growth in May
June 1, 2023
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Australia’s residential property market has made a comeback as the national house prices rose for the third consecutive month in May. According to the real estate data provider CoreLogic, the national home value index climbed by 1.2 percent in May, following increases of 0.5 and 0.6 percent in March and April. Prior to this, Australian…
Australia’s Housing Market Regains Momentum With 3rd Consecutive Month of Growth
June 1, 2023
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AustraliaBusiness & MarketsCoreLogiceconomyGlobal Real Estatehome valuesreal estateReserve Bank of AustraliaWorld
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Australia’s residential property market has made a comeback as the national house prices rose for the third consecutive month in May. According to the real estate data provider CoreLogic, the national home value index climbed by 1.2 percent in May, following increases of 0.5 and 0.6 percent in March and April. Prior to this, Australian…
Large Number of Job Openings May Lead to Rate Hike
June 1, 2023
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Business & Marketseconomic policieseconomyFederal ReserveinflationJOLTSMarketspersonal financePolicies & ImpactsrecessionU.S. labor marketUS
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U.S. job openings unexpectedly rose last month, but the strong labor market numbers could lead the Federal Reserve to raise interest rates again in June. It is beginning to appear that the banking-sector crisis caused by the collapse of Silicon Valley Bank in March had little effect on employers’ strong demand for workers. Fed Chairman Jerome…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 1)
June 1, 2023
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Benchmark U.S. crude oil for July delivery rose $2.01 to $70.10 a barrel Thursday. Brent crude for August delivery rose $1.68 to $74.28 a barrel. Wholesale gasoline for July delivery was unchanged at $2.44 a gallon. July heating oil rose 6 cents to $2.31 a gallon. July natural gas fell 11 cents to $2.16 per…
How Major US Stock Indexes Fared June 1
Wall Street closed higher on hopes that the Federal Reserve may soon take it easier on its hikes to interest rates, with the S&P 500 gaining 1 percent Thursday. Several reports painted a picture of a split U.S. economy. The job market remains remarkably solid, but manufacturing is weakening and shoppers of all kinds are…
State Pension Funds Defy Anti-ESG Laws When Voting Their Shares, Watchdog Charges
June 1, 2023
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Anti-ESGBusiness & MarketsCompaniesESGFlorida CFO Jimmy PatronisGov. Ron DeSantisInvestmentMarketspersonal financePoliticsstate pension fundsstocksUS
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Conservative states working to keep state funds out of the environmental, social, and corporate governance (ESG) movement are finding that, when it comes to state fund managers, you can lead them to water but can’t always make them drink. Despite recent laws in states like Florida and Ohio banning the use of municipal dollars for…
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