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McDonald’s sued over AI tool that recommends prices to US franchisees
McDonald’s is facing a federal lawsuit that alleges its AI-enhanced pricing tool violates antitrust laws because it shares nonpublic data with franchisees who might be competing in the same market. The lawsuit, which was filed Friday in Illinois, said McDonald’s pricing tool uses artificial intelligence to collect data that competing franchises wouldn’t normally share, like […]
Paramount and Warner Bros are now one Hollywood giant: Skydance. Here’s how we got here
CHICAGO | It’s official: Skydance-owned Paramount has closed its $81 billion takeover of Warner Bros. Discovery. The companies completed the deal on Tuesday, ushering in a new Hollywood giant with the now shorter “Skydance” nametag. The merger brings two of America’s oldest moviemaking studios together. And HBO Max, titles ranging from “Harry Potter” to “Sinners” […]
Americans are using buy now, pay later more than ever. Here’s what to know if you’re one of them
NEW YORK | Americans spent more than $160 billion last year using buy now, pay later plans, according to research published by Federal Reserve economists. Experts say they’re increasingly seeing people use the plans for everyday expenses like groceries, bills, transportation and, sometimes rent. “It has been very hard out there for a lot of […]
Americans’ view of the economy sinks to the lowest level since 2014, Conference Board survey says
WASHINGTON | Americans’ confidence in the economy sank to the lowest level in more than a decade this month as prices remain elevated and wages stagnate amid the ongoing Iran war. The Conference Board said Tuesday that its consumer confidence index tumbled 6.7 points to 81.9 in September, down from 88.6 in August. That’s the […]
Worries about an AI internet takeover gain new urgency among doomsday scenarios
In a summer filled with revelations about artificial intelligence’s rapid development, researchers were especially alarmed by runaway bots finding their way onto the internet and, in at least one instance, coordinating there with one another. Could a swarm of AI agents take over the entire internet? It’s a possibility that could be only six to […]
Warren Buffett steps down as Berkshire Hathaway chairman, a post he has held since 1970
Warren Buffett is stepping down as chairman of Berkshire Hathaway after serving in the role at the conglomerate for more than 50 years. Buffett, 96, will become chairman emeritus and will take on his new role immediately, the company said Friday. His son, Howard, will become Berkshire Hathaway’s new chairman, part of a long-planned succession. […]
Costco raises price for Kirkland motor oil, sets purchase limit
Costco has raised the price of motor oil sold under its exclusive private-label brand as well as limited how much of it customers can buy weekly as oil prices climb yet again. Americans looking to try to save some money by purchasing motor oil to do their own oil changes may consider this yet another […]
Apple’s new CEO, John Ternus, takes over from Tim Cook after 15 years
Apple’s new CEO John Ternus takes the helm of the iconic tech giant on Tuesday, ending Tim Cook’s 15-year tenure during which the company’s value skyrocket to $4.6 trillion thanks to the iPhone’s enormous popularity. The transition to a new CEO comes at a pivotal time for Apple. Artificial intelligence has unleashed the greatest upheaval […]
Fed Chair Warsh signals rate hikes may be needed with inflation still elevated
JACKSON HOLE, Wyoming | Federal Reserve Chair Kevin Warsh said Friday that inflation is still too high and suggested the central bank may have to raise interest rates in the coming months to bring it down, a clearer signal than he has previously sent about his economic outlook. In his first high-profile speech at the […]
Aurora City Council delays vote on so-called socioeconomic impact business permits
AURORA | A vote on potential socioeconomic impact permits for businesses like liquor stores and vape shops was delayed until the Sept. 14 city council meeting so that adjustments can be made to the proposal. Councilmember Alison Coombs asked for two agenda items to be delayed during Monday’s city council meeting: the socioeconomic impact permits […]