Even though both President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) have said in recent days they don’t believe the debt ceiling negotiations will end in a fiasco and trigger an economically damaging debt default, markets are jittery and voters nervous as they mull the implications of America failing to meet its debt obligations….
What Voters Fear Most if Debt Ceiling Talks Fail and Default Comes Knocking
Twitter Blames Microsoft For Data Misuse in Potential Future Conflict Over AI
May 19, 2023
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artificial intelligenceartificial intelligence (AI)Business & MarketsCompanieslarge language modelMedia & Big TechTechTech Newstwitter apiUS
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Twitter is accusing Microsoft of misusing its API data access in a move that could foreshadow a potential conflict over the data access of AI systems. In a May 18 letter (pdf) to Microsoft CEO Satya Nadella, Twitter said that Microsoft “may have been in violation” of multiple provisions of the Twitter Developer Agreement for…
US, Taiwan Reach Deal on 1st Part of ’21st Century’ Trade Pact
WASHINGTON—The U.S. and Taiwan reached agreement on the first part of their “21st Century” trade initiative, covering customs and border procedures, regulatory practices, and small business, the U.S. Trade Representative’s office said on Thursday. After the initial agreement of the U.S.–Taiwan Initiative on 21st Century Trade is signed, negotiations will commence on other, more complicated…
Target Recalls Nearly 5 Million Candles After Reports of Burns and Lacerations
Target is recalling nearly 5 million candles following reports of dozens of the products cracking while burning, injuring at least six people. One lot of Threshold glass candles was sold at Target locations and Target.com between August 2019 and March 2023, costing between $3 and $20, according to the federal Consumer Product Safety Commission (CPSC) in a…
Google May Delete Your Gmail Account: Here’s How to Stop It
Tech giant Google announced that it will delete any accounts that have been inactive for at least two years—including Gmail and YouTube accounts. Google’s policy of deleting accounts will start in December 2023, and it will include Google accounts including YouTube, Google Docs, Google Meet, Google Calendar, Google Photos, and Gmail. The company said it will…
Delta CEO Warns More Government Regulations Could Raise Ticket Prices
May 19, 2023
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Airline industryBiden administraitonBusiness & MarketsCompaniesDelta Air LineseconomyEd BastianJoe Biden
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Ed Bastian, CEO of Delta Air Lines, revealed Wednesday that government regulations recently unveiled by the Biden administration could lead to higher ticket prices. Last week, the Department of Transportation (DOT) announced plans for new rules that would require airlines to compensate passengers and cover expenses for meals and hotel rooms should flights be delayed…
Are Fears of AI Justified?
Commentary Artificial intelligence (AI) has created some enthusiasm and even more fear. The fears center partly on matters of privacy and the upending of social relationships but mostly on job destruction. Such concerns are far from new. They have emerged with every technological advance since the industrial revolution began in the late 18th century. They…
Mortgage Arrears and Repossessions Jump as Homeowners Struggle Amid Soaring Interest Rates
May 19, 2023
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Bank of EnglandBusiness & Marketseconomyhomeownersinflationinterest ratesmortgagepersonal financeUKWorld
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The number of homeowners in arrears and properties being repossessed jumped in the first quarter of this year, as mortgage costs soared amid repeated interest rate hikes. According to figures from trade body UK Finance, some 750 homeowner mortgaged properties were taken into possession in the first quarter of 2023, a 50 percent increase from…
UK Unveils £1 Billion Semiconductor Strategy
The UK government has unveiled its semiconductor strategy, which it said would secure the country’s position as a “global science and technology superpower.” But the long-awaited policy paper was met with mixed reactions, with some companies calling it “flaccid” and lacking in ambition. Under the 20-year plan, the government pledged around £200 million ($248 million) by 2025 and…
CNN Parent Company CEO Makes Surprise Comment After Trump Town Hall
The CEO of CNN’s parent company responded to recent criticism against his network by saying that it needs to “show both sides” in order to rebrand. David Zaslav, the chief executive of Warner Bros. Discovery, told a media conference Thursday that CNN needs to shift from a “left-leaning” network to “show both sides of every…
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