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Core Inflation at Lowest Levels Since 2020 says Fed Guage
WASHINGTON (AP) â A measure of prices that is closely tracked by the Federal Reserve suggests that inflation pressures in the U.S. economy are continuing to ease. Friday's Commerce Department report showed that consumer prices were flat from April to May, the mildest such performance in more than four years. Measured from a year earlier, prices rose 2.6% last month, slightly less than in April. Excluding volatile food and energy prices, so-called core inflation rose 0.1% from April to May, the smallest increase since the spring of 2020, when the pandemic erupted and shut down the economy. And compared with a year...
Euro Monopoly Watchdogs Bare Their Teeth Anew at Microsoft-OpenAI Deal
LONDON (AP) â The European Union is escalating its scrutiny of the artificial intelligence industry, including taking a fresh look into Microsoftâs multibillion-dollar partnership with OpenAI, a top EU official said Friday. The European Commission, the bloc's executive arm, started reviewing the deal last year to see whether it broke EU merger rules but dropped it after concluding Microsoft hadn't gained control of OpenAI, Margrethe Vestager, the commissionâs executive vice-president for competition policy, said in a speech. âMicrosoft has invested $13 billion in OpenAI over the years,â she said âBut we have to make sure that partnerships like this do not become...
Smart Balls! Cryogenic Recovery! Tech is Changing Soccer at Euro 2024
DUESSELDORF, Germany (AP) â From smart-enabled match balls and artificial intelligence to cryogenic recovery chambers, soccer is being transformed by the cutting-edge technology available to players, coaches and officials. That much has been evident at Euro 2024 , where advancements in areas such as equipment and sports science have been deployed on and off the field, designed to improve the game, the fan experience and player welfare. Not all of it is a hit with everyone. For instance, there are still complaints about decisions by video assistant referees â just as there were about decisions in the days before VAR was introduced. Regardless, the...
Mother Jones Publisher Sues OpenAI and Microsoft For âExploitationâ
LOS ANGELES (AP) â The Center for Investigative Reporting said Thursday it has sued ChatGPT maker OpenAI and its closest business partner, Microsoft, marking a new front in the news industryâs fight against unauthorized use of its content on artificial intelligence platforms. The nonprofit, which produces Mother Jones and Reveal , said that OpenAI used its content without permission and without offering compensation, violating copyrights on the organizationâs journalism. The lawsuit, filed in a New York federal court, describes OpenAI's business as âbuilt on the exploitation of copyrighted worksâ and focuses on how AI-generated summaries of articles threaten publishers. âItâs immensely dangerous,â...
US Economic Growth for Q1 Revised Up to 1.4%
WASHINGTON (AP) â The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said Thursday in a slight upgrade from its previous estimate. Consumer spending grew at just a 1.5% rate, down from an initial estimate of 2%, in a sign that high interest rates may be taking a toll on the economy. The Commerce Department had previously estimated that the gross domestic product â the economy's total output of goods and services â advanced at a 1.3% rate last quarter. The first quarter's GDP growth marked a sharp pullback...
Watchdog Slams IRS Identity Theft Case Delays as âUnconscionableâ
WASHINGTON (AP) â An independent watchdog within the IRS reported Wednesday that while taxpayer services have vastly improved, the agency is still too slow to resolve identity theft cases with delays that are âunconscionable.â Overall, the 2024 filing season went smoothly, according to the latest National Taxpayer Advocate report to Congress, especially after the IRS received a massive funding boost provided by the Democratsâ Inflation Reduction Act that President Joe Biden signed into law in August 2022. âNot to be overly dramatic, but during the last four years, I believe we have progressed from a place of despair to a place of...
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