Bill Gates recently praised the evolution of artificial intelligence, his relationship with OpenAI, and gave a short warning on the situation being portrayed differently by other subject experts, including Elon Musk. The Microsoft co-founder started out his March 21 GatesNotes post on AI in a hopeful tone: “The development of AI is as fundamental as…
‘There’s the Possibility That AIs Will Run Out of Control’: Bill Gates
March 30, 2023
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Russia’s Security Service Arrests Wall Street Journal Reporter on Espionage Charges
Russia’s Federal Security Service (FSB) has detained a Wall Street Journal reporter, accusing him of espionage on behalf of the United States. The FSB, the top domestic security and counterintelligence agency that succeeded the Soviet-era KGB, said on March 29 that it had detained Evan Gershkovich, a Moscow-based correspondent, in the city of Yekaterinburg in the Ural Mountains, roughly 900 miles…
More Americans File for Jobless Claims; Layoffs Remain Low
March 30, 2023
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U.S. applications for jobless benefits rose last week but remain at historically low levels despite efforts by the Federal Reserve to cool the economy and the job market in its fight against inflation. Jobless claims in the U.S. for the week ending March 25 rose by 7,000 to 198,000 from the previous week, the Labor…
Stocks Firmer as Investors Bet Banking Crisis Is Behind Them
March 30, 2023
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LONDON—A steadier tone in global stocks continued on Thursday as investors hoped the banking sector had turned a corner on its recent turmoil to help markets end the quarter on a positive note. The dollar and crude oil prices were stable, with calmer markets allowing investors to focus more on the economy, as Spanish inflation…
Electronic Arts to Lay Off 6 Percent of Workforce
California-based video game company Electronic Arts (EA) has announced that it will lay off approximately 6 percent of its workforce in the coming months as part of its restructuring efforts, which equates to nearly 800 people. The decision was made after a review of the company’s portfolio, with a focus on prioritizing projects that contribute…
Fed Was in Talks With Silicon Valley Bank to Use Discount Window Before Collapse
March 30, 2023
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Business & MarketsCompaniescongresseconomic policieseconomyFDICFedFederal regulatorsInvestmentMarketsMichael BarrPolicies & ImpactsPoliticsSilicon Valley BankstocksUSUS News
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Federal Reserve officials were reportedly in discussions with Silicon Valley Bank (SVB) to use its discount window, right before its collapse earlier this month. The Fed’s top enforcer testified in front of Congress on March 29, as the elected representatives demanded answers for the California-based lender’s collapse. House lawmakers questioned the regulators’ competency and accused…
Era of Remote Work Ends for Millions of Americans
Millions of Americans stopped working from home in 2022, according to a Labor Department report released on March 22. The agency said that 72.5 percent of establishments, defined as each business location, reported little to no telework among employees between August and September 2022, a 12.4 percent increase from 2021. Before the pandemic upended the workplace,…
AI Could Eliminate 300 Million Jobs, Warns Goldman Sachs
March 29, 2023
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Artificial intelligence (AI) could lead to the elimination of 300 million full-time jobs, according to a new study. A March 25th report by economists at Goldman Sachs Group (GSG) stated that improvements in AI technology may cause almost a quarter of existing positions in the United States and Europe to be replaced, but that new…
Over 3,000 Pounds of Ground Beef Recalled Over E. Coli Detection
Elkhorn Valley Packing is recalling approximately 3,436 pounds of boneless beef chuck product that was distributed to nine states because it may be contaminated with a strain of E. Coli, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced on Friday. The Kansas-based meat packer issued a voluntary recall for Elkhorn Valley Pride…
Budget 2023 Hikes Taxes on Wealthy Individuals and Corporations
News Analysis OTTAWA—Flying under the radar of Budget 2023‘s spending and deficits are a couple of tax hikes on wealthy individuals and corporations that were telegraphed a year ago. But analysis shows that such tax hikes can impact people who are simply using well-established tax deductions, and a tax expert says they can also adversely…
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