TOKYO—Global shares were mixed Wednesday after Wall Street indexes finished little changed as investors awaited earnings results from major global companies. The U.S. government will release economic growth data for the fourth quarter on Thursday. Economists expect the economy expanded at an annual pace of less than 1 percent, down from 1.9 percent in the…
Global Shares Mixed, China Markets Closed for Holidays
January 25, 2023
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Musk Testifies Over ‘Funding Secured’ Tweet in Tesla Investors’ Class Action Lawsuit
A lawsuit about a tweet that Elon Musk made years ago continues, concluding its fifth day on Tuesday. Musk testified for roughly three more hours in a federal trial over a class-action lawsuit alleging he misled Tesla shareholders with a tweet from Aug. 7, 2018. He defended himself against claims that he illegally manipulated Tesla’s…
Insurer Travelers Profit Falls on Winter Storm Costs
Property and casualty insurer Travelers Companies Inc. reported a 37 percent fall in quarterly profit on Tuesday, hurt by losses related to a winter storm that swept across the United States and Canada in the last week of 2022. The company’s core income fell to $810 million, or $3.40 per share, in the fourth quarter…
Union Pacific 4Q Profit Slips 4 Percent on Weather, Hiring Problems
OMAHA, Neb.—Union Pacific’s fourth-quarter profit slipped 4 percent as severe winter weather snarled shipments in late December and disrupted the railroad’s efforts to eliminate the delayed deliveries and other problems shippers complained about last year. The Omaha, Nebraska-based railroad said it earned $1.6 billion, or $2.67 per share, in the fourth quarter. That’s down from…
Twitter Faces Lawsuits Over Unpaid Rent for US HQ, UK Office
LONDON—More landlords are taking Twitter to court over unpaid rent, this time at the social media company’s headquarters in San Francisco and its British offices. Twitter is facing a lawsuit over allegations it failed to pay rent for its head office, according to California court documents. The owner of its premises in central London, meanwhile,…
PayPal Hack Exposes Customer Names, Social Security Numbers
Some 35,000 PayPal user accounts have been hacked by “credential stuffing,” resulting in exposed names and Social Security numbers, according to a notification posted on a government website. Through its lawyers, the California-based payment processor sent a notice to Maine’s attorney general. The company also sent a letter, dated Jan. 19, about the data breach…
Gasoline Prices Surge as Consumer Demand Rises in January
January 24, 2023
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Business & MarketsCompaniescrudeeconomic policieseconomyenergygas pricesinflationMarketsOil RefineriesUSWorld
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Rising U.S. consumer demand, combined with a rise in the price of crude oil, has led to an increase in gas prices at the pump. The national average price for a regular gallon of gas was at $3.46 on Jan. 24, according to data from the American Automobile Association (AAA). The auto association attributed much of…
3M to Cut 2,500 Manufacturing Jobs as US Economic Outlook Sours
The large U.S. manufacturer 3M said that it intends to cut more than 2,000 jobs as the economic outlook signals more turbulence this year. The St. Paul, Minnesota-based industrial and consumer goods maker had about 95,000 employees at the end of 2021, according to securities filings. The company’s CEO, Mike Roman, said he plans to cut…
Google Curates Data for AI: Whistleblower
January 24, 2023
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AIBig Tech, Censorship, and SocialismBusiness & MarketscensoringCompaniesFeatured Topicsmachine learning fairnessMedia & Big TechTechUSUS Features
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By curating the data that artificial intelligence (AI) uses to learn, tech companies like Google can bias the AI to censor information flowing on the internet, a Google whistleblower says. When Zach Vorhies was working for Google, he was concerned about how the company was curating data to generate AI biased with social justice or…
House Republicans Urge DirecTV Not to Drop Newsmax
January 24, 2023
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Business & MarketsCompaniescongressEntertainmentFilm & TVMedia & Big TechNewsmaxPoliticsRepublicansUSUS News
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Republican members of Congress are calling on DirecTV to not drop the conservative news network Newsmax from its channel lineup as the satellite provider did to One America News (OAN) last year. Rep. Wesley Hunt (R-Texas), along with 41 Republican colleagues, said in a letter that there are reasons to believe DirecTV is “moving to…
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