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Costco Raises Annual Membership Fees for the First Time Since 2017
ISSAQUAH, Wash. (AP) — Costco bargain hunters are going to have to pay an additional $5 to $10 annually as the popular warehouse chain prepares to raise its membership fees for the first time in seven years. The Issaquah, Washington, company disclosed the forthcoming 8% increase in the fee to gain entry into its more than 700 warehouses in the U.S. and Canada as part of a monthly sales report Wednesday. The new fees, set to take effect Sept. 1, will boost the price of Costco's basic Gold Star membership from $60 to $65 annually, while the cost for the premium Executive...
Milk, Eggs and Now Bullets for Sale In Grocery Vending Machines
MONTGOMERY, Ala. (AP) — A company has installed computerized vending machines to sell ammunition in grocery stores in Alabama, Oklahoma and Texas, allowing patrons to pick up bullets along with a gallon of milk. American Rounds said their machines use an identification scanner and facial recognition software to verify the purchaser’s age and are as “quick and easy” to use as a computer tablet. But advocates worry that selling bullets out of vending machines will lead to more shootings in the U.S., where gun violence killed at least 33 people on Independence Day alone . The company maintains the age-verification technology means...
Tax Prep Firm Intuit to lay off 1,800 as Part of AI-Focused Re-org
WASHINGTON (AP) — Tax preparation and financial software company Intuit announced an AI-focused reorganization plan Wednesday that includes laying off about 10% of its workforce. The company behind QuickBooks and TurboTax said it was laying off 1,800 employees, but that it expects to hire at least that many in fiscal 2025 as it accelerates its focus on incorporating artificial intelligence into its products and services. In an email to employees, CEO Sasan Goodarzi said more than 1,000 of the layoffs were employees that were not meeting the company's elevated expectations. Another 300 positions are being eliminated "to streamline work and reallocate resources toward...
Microsoft Quits OpenAI Board Amidst Antitrust Scrutiny of AI pacts
Microsoft has relinquished its seat on the board of OpenAI, saying its participation is no longer needed because the ChatGPT maker has improved its governance since being roiled by boardroom chaos last year. In a Tuesday letter, Microsoft confirmed it was resigning, “effective immediately,” from its role as an observer on the artificial intelligence company's board. “We appreciate the support shown by OpenAI leadership and the OpenAI board as we made this decision," the letter said. The surprise departure comes amid intensifying scrutiny from antitrust regulators of the powerful AI partnership. Microsoft has reportedly invested $13 billion in OpenAI. European Union regulators said last...
Are Personal Checks Done? Target Will Stop Accepting Them Next Week
NEW YORK (AP) — Target will no longer accept personal checks from shoppers as of July 15, another sign of how a once ubiquitous payment method is going the way of outmoded objects like floppy disks and the Rolodex. The Minneapolis-based discounter confirmed the move in a statement to The Associated Press on Tuesday, citing “extremely low volumes” of customers who still write checks. Target said it remained committed to creating an easy and convenient checkout experience with credit and debit cards, “buy now, pay later” services and the Target Circle membership program , which applies deals automatically at checkout. “We have...
Judge who Nixed Musk’s Pay Mulls Massive Fee Request from Lawyers
WILMINGTON, Del. (AP) — A Delaware judge heard arguments Monday over a massive and unprecedented fee request by lawyers who successfully argued that a massive and unprecedented pay package for Tesla CEO Elon Musk was illegal and should be voided. Attorneys for a Tesla stockholder who challenged Musk’s 2018 compensation package are asking Chancellor Kathaleen St. Jude McCormick to award them legal fees in the form of stock in the electric vehicle company valued at more than $7 billion at current trading prices. The 2018 compensation package for Musk that was rescinded by the judge was potentially worth more than $55...
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