Jul 14, 2023 By Ap 6 min read

FTC investigating ChatGPT creator OpenAI over consumer protection issues

The U.S. Federal Trade Commission has launched an investigation into ChatGPT creator OpenAI and whether the artificial intelligence company violated consumer protection laws by scraping public data and publishing false information through its chatbot. The agency sent OpenAI a 20-page letter requesting detailed information on its AI technology, products, customers, privacy safeguards and data security arrangements. An FTC spokesperson had no comment on the investigation, which was first reported by the Washington Post, which posted the letter online. OpenAI founder Sam Altman tweeted disappointment that the investigation was disclosed in a “leak” but added that the company will work with the FTC.

Microsoft moves closer to completing $69 billion Activision takeover after court rebuffs regulators

A U.S. appeals court has rejected a bid by federal regulators to block Microsoft from closing its $68.7 billion deal to buy video game maker Activision Blizzard. The decision paves the way for the completion of the biggest acquisition in tech history after a legal battle over whether it will undermine competition. In a brief ruling Friday, a three-judge panel on the Ninth Circuit Court of Appeals concluded there were no grounds for issuing an order that would have prevent Microsoft from completing its nearly 18-month-old deal to take over the maker of popular video games such as Call of Duty.

The story behind Barbenheimer, the summer’s most online movie showdown

The very online showdown between Greta Gerwig’s “Barbie” and Christopher Nolan’s “Oppenheimer” all started with a date: July 21. It’s not an uncommon thing for studios to counterprogram films in different genres on a big weekend, but the stark differences between an intense, serious-minded picture about the man who oversaw the development of the atomic bomb and a lighthearted, candy-colored anthropomorphizing of a childhood doll quickly became the stuff of viral fodder. It’s even got the world’s biggest stars promoting other films. The consensus is “Barbenheimer” is good for everyone — the movies, the theaters and the business.

JPMorgan second quarter profit jumps 67% with a boost from First Republic takeover

JPMorgan Chase says its second-quarter profits rose by 67% as the nation’s largest bank made more loans to customers and took advantage of higher interest rates and its recent acquisition of First Republic. JPMorgan said Friday that it earned $14.5 billion in the three months ended June 30, compared to a profit of of $8.65 billion in the same period a year earlier. On a per share basis, the bank earned $4.75 a share. Revenue rose to $42.4 billion. The results beat Wall Street forecasts.

Stock market today: A raucous week for Wall Street closes with a quiet, mixed finish

NEW YORK (AP) — Another winning week for Wall Street drifted to a quiet close following profit reports from several big U.S. companies that topped expectations. The S&P 500 fell 0.1% Friday, coming off its highest close since April 2022. The Dow rose 113 points, or 0.3%, and the Nasdaq slipped 0.2%. UnitedHealth Group jumped after reporting stronger profit than expected. JPMorgan Chase and Wells Fargo also rose in the morning following their profit reports but lost momentum like the rest of the market as the day progressed. The S&P 500 still marked its seventh winning week in the last nine.

US sending F-16 fighter jets to protect ships from Iranian seizures in Gulf region

WASHINGTON (AP) — A senior defense official says the U.S. is beefing up its use of fighter jets around the strategic Strait of Hormuz to protect ships from Iranian seizures. The official says the U.S. is increasingly concerned about the growing ties between Iran, Russia and Syria across the Middle East. The official tells reporters the U.S. will send F-16 fighter jets to the Gulf region this weekend to augment the A-10 attack aircraft that have been patrolling there for more than a week. The move comes after Iran tried to seize two oil tankers near the Strait last week, opening fire on one of them.

GOP attorneys general shift the battle over affirmative action to the workplace

NEW YORK (AP) — Thirteen Republican state attorneys general are cautioning CEOs of the 100 biggest U.S. companies on the legal consequences for using race as a factor in hiring and employment practices. The move demonstrates how the Supreme Court’s recent ruling dismantling affirmative action in higher education may trickle into the workplace. The state attorneys general sent a letter to the CEOs on Thursday arguing that the controversial June ruling declaring that race cannot be a factor in college admissions could also apply to private entities, like employers. Some legal experts note, however, that the court’s ruling applies to higher education institutions and other entities that receive federal funding, and doesn’t directly change private employer obligations.

IRS says it collected $38 million from more than 175 high-income tax delinquents

WASHINGTON (AP) — The IRS is showcasing its new capability to audit high-income tax dodgers aggressively as it makes the case for sustained funding and tries to avoid budget cuts sought by Republicans who want to gut the agency. IRS leaders have laid out how they netted $38 million in delinquent taxes from more than 175 high-income taxpayers in the past few months. In one case, an individual used money owed to the government to buy a Maserati and a Bentley. And roughly 100 high-income people were discovered to claim benefits in Puerto Rico without meeting residency requirements.

Microsoft gets more time from UK to plead case to buy video game maker Activision

LONDON (AP) — British antitrust regulators have extended their deadline to issue a final order blocking Microsoft’s $69 billion plan to buy video game maker Activision Blizzard. They said Friday that it will give them more time to consider the U.S. tech giant’s “detailed and complex submission” pleading its case. The Competition and Markets Authority had rejected the deal, set to be the biggest in tech history. They feared it would stifle competition for popular titles like Call of Duty in the fast-growing cloud gaming market. But the U.K. watchdog appears to have softened its position after a judge thwarted U.S. regulators’ efforts to block the deal. The authority says it pushed its deadline back to Aug. 29.

Movie and TV stars join picket lines in fight over the future of Hollywood

LOS ANGELES (AP) — “Ted Lasso” star Jason Sudeikis, Rosario Dawson and other top movie and TV actors have joined picket lines alongside screenwriters. It happened Friday on the first full day of a walkout that has become Hollywood’s biggest labor fight in decades. A day after the dispute brought production to a standstill across the entertainment industry, Sudeikis was among the picketers outside NBC in New York pressing for progress following the breakdown of contract talks with studios and streaming services. Dawson is star of the film “Rent” and the “Star Wars” TV series “Ahsoka” She joined picketers outside Warner Bros. studios in Burbank, California.