Money Archives

An AI policy think tank wants the US government to investigate OpenAI and its wildly popular GPT artificial intelligence product over 'deceptive' behavior.

The FTC should investigate OpenAI and block GPT over ‘deceptive’ behavior, AI policy group claims

March 30, 2023 10:35 AM CNN Newsource

By Brian Fung, CNN An AI policy think tank wants the US government to investigate OpenAI and its wildly popular GPT artificial intelligence product, claiming that algorithmic bias, privacy concerns and the technology’s tendency to produce sometimes inaccurate results may violate federal consumer protection law. The Federal Trade Commission should prohibit OpenAI from releasing future

Sam Bankman-Fried has pleaded not guilty to fraud and bribery charges on Thursday.

Sam Bankman-Fried pleads not guilty to new federal charges

March 30, 2023 10:13 AM CNN Newsource

By Kara Scannell, CNN Sam Bankman-Fried, the founder of failed cryptocurrency trading platform FTX, pleaded not guilty to five new federal charges of fraud and conspiracy, including one count of conspiring to bribe Chinese government officials. An attorney for Bankman-Fried entered the plea on his behalf of his client, who was seated beside him in

The new Lamborghini is totally different than any car it’s ever made

March 30, 2023 10:01 AM CNN

By Peter Valdes-Dapena, CNN Business Soon, you’ll be able to plug in your Lamborghini. Closing out a half century of purely gasoline-powered V12 cars going back to the brand’s earliest models, Luxury Italian sports car designer Lamborghini has unveiled its first supercar with a charging port. The Lamborghini Revuelto is a plug-in hybrid and, while

Evan Gershkovich was arrested Wednesday by Russian security forces in the city of Yekaterinburg.

WSJ editor tells staff she is ‘very concerned’ for safety of reporter arrested in Russia

March 30, 2023 9:59 AM CNN Newsource

By Oliver Darcy, CNN Wall Street Journal Editor-in-Chief Emma Tucker told staff in a memo Thursday that she was “very concerned” for the safety of Russia-based reporter Evan Gershkovich, who was arrested Wednesday by security forces in the city of Yekaterinburg. “I am very sorry to let you know you that one of our reporters

Putin admits sanctions could hurt Russia’s economy

March 30, 2023 9:48 AM CNN Newsource

By Hanna Ziady, CNN President Vladimir Putin has conceded that Western sanctions designed to starve the Kremlin of funds for its invasion of Ukraine could deal a blow to Russia’s economy. “The illegitimate restrictions imposed on the Russian economy may indeed have a negative impact on it in the medium term,” Putin said in televised

Why skinny soda cans are everywhere

March 30, 2023 8:56 AM CNN Newsource

By Nathaniel Meyersohn, CNN Suddenly, your beverage is taller. Beverage brands rely on packaging shape and design to draw in consumers. Now they’re counting on a new slew of skinny aluminum cans to subtly signal to consumers that their exotic new drinks are healthier than the beer and sodas in the short, round cans of

Ex-Fox producer said she gave misleading testimony in Dominion case ‘to keep my job’

March 30, 2023 8:55 AM CNN Newsource

By Marshall Cohen and Kristina Sgueglia, CNN Abby Grossberg, the former Fox News producer who accused the right-wing network of pressuring her into giving misleading testimony in the Dominion defamation case, told NBC News Thursday in her first TV interview that she was “bullied, intimidated and coerced” into protecting the right-wing network to keep her

The US economy grew at a slower pace in the fourth quarter than previously estimated. A man carries siding into a house at a new home construction site in Trappe

The final estimate for GDP shows the US economy grew at 2.6% last quarter

March 30, 2023 7:34 AM CNN

By Alicia Wallace, CNN The US economy grew at a slower pace in the fourth quarter than initially estimated, as consumer spending continued to trail off. Inflation-adjusted gross domestic product — the broadest measure of economic activity — increased 2.6% for the final three months of 2022, according to the Commerce Department’s third and final

The final estimate for GDP shows the US economy grew at 2.6% last quarter

March 30, 2023 7:34 AM CNN Newsource

By Alicia Wallace, CNN The US economy grew at a slower pace in the fourth quarter than initially estimated, as consumer spending continued to trail off. Inflation-adjusted gross domestic product — the broadest measure of economic activity — increased 2.6% for the final three months of 2022, according to the Commerce Department’s third and final

The average annual Wall Street bonus fell by 26% last year.

The average Wall Street bonus fell by 26% last year

March 30, 2023 6:40 AM CNN Newsource

By Jeanne Sahadi, CNN The average annual Wall Street bonus fell to $176,700 last year, a 26% drop from the previous year’s average of $240,400, according to estimates released Thursday by New York State Comptroller Thomas DiNapoli. The 2022 bonus figure is more than twice the median annual income for US households. Rising interest rates,

Silicon Valley Bank's collapse earlier this month gave the fine wine and crypto industry a big boost as panicking investors rushed out of the financial sector and into alternative assets.

Banking chaos has been bittersweet for crypto and wine

March 30, 2023 5:59 AM CNN Newsource

By Nicole Goodkind, CNN Silicon Valley Bank’s collapse earlier this month dealt a major blow to the wine and crypto firms that entrusted their money with and depended on the lender to stay afloat. But it also gave the fine wine and crypto industry a big boost as panicking investors rushed out of the financial

WSJ editor tells staff she is ‘very concerned’ for safety of reporter arrested in Russia

March 30, 2023 4:59 AM CNN

By Oliver Darcy, CNN Wall Street Journal Editor-in-Chief Emma Tucker told staff in a memo Thursday that she was “very concerned” for the safety of Russia-based reporter Evan Gershkovich, who was arrested Wednesday by security forces in the city of Yekaterinburg. “I am very sorry to let you know you that one of our reporters

Wall Street Journal journalist Evan Gershkovich has been arrested in Russia on suspicion of espionage.

Wall Street Journal reporter arrested in Russia on suspicion of ‘espionage’

March 30, 2023 4:15 AM CNN Newsource

By Sarah Dean and Anna Chernova, CNN Wall Street Journal reporter Evan Gershkovich has been arrested in Russia on suspicion of espionage, the first time a US journalist has been detained on accusations by Moscow of spying since the Cold War. “The Federal Security Service of the Russian Federation has stopped the illegal activities of

China's Premier Li Qiang delivers a speech during the opening of the Boao Forum for Asia in Boao

China ‘confident and capable’ of hitting 2023 growth targets, new premier says at gathering of business leaders

March 30, 2023 2:38 AM CNN Newsource

By Laura He, CNN China’s newly minted Premier Li Qiang painted a bullish picture of his country’s economic recovery at a key business forum this week, as Beijing seeks to win the hearts of global investors and economic leaders after emerging from its long pandemic isolation.“The dynamism and momentum of China’s economic growth is strong,”

China Renaissance suspends trading, delays results after founder’s disappearance

March 30, 2023 2:38 AM CNN

By Laura He, CNN China Renaissance, a top dealmaker in the country’s tech industry, said it would suspend trading of its shares and delay the release of its annual results because it still can’t get in touch with its founder. Bao Fan, 52, started the boutique investment bank in 2005 and has been unreachable since

The global IPO market slump endures as companies wait out the effects of volatile stock markets. Pictured is the New York Stock Exchange.

‘Companies are holding out’: Global IPO market slump endures

March 29, 2023 11:30 PM CNN Newsource

By Michelle Toh, CNN A slowdown in global initial public offerings continued in the first quarter of 2023 and is likely to endure in the coming months, as companies wait out the effects of volatile stock markets, higher interest rates and inflation, and uncertainty around the banking crisis. That’s according to an EY report Thursday,

Starbucks fires Buffalo union worker who ‘ignited a movement’ to organize

March 29, 2023 4:43 PM CNN

By Ramishah Maruf, CNN Starbucks has fired a Buffalo, New York, worker who “ignited a movement” from one of the first stores in the coffee chain to unionize, Starbucks Workers United said Friday. The firing came the same week that former CEO Howard Schultz testified before Congress, where he was grilled by lawmakers for the

Fox News chief executive Suzanne Scott internally sounded the alarm about the financial fallout that the right-wing network would suffer if it continued fact-checking then-President Donald Trump's lies after the 2020 election

Fox News CEO said correspondent’s fact-check of Trump’s election lies was ‘bad for business,’ new emails show

March 29, 2023 3:22 PM CNN Newsource

By Oliver Darcy and Marshall Cohen, CNN Fox News CEO Suzanne Scott sounded the alarm inside the company about the financial fallout that the right-wing network would suffer if it continued aggressively fact-checking then-President Donald Trump’s lies after the 2020 election, according to messages that became public Wednesday. In one instance, Scott emailed Meade Cooper,

The Food and Drug Administration will now require medical devices meet specific cybersecurity guidelines after years of concerns that a growing number of internet-connected products used by hospitals and healthcare providers could be hit by hacks and ransomware attacks.

FDA requires medical devices be secured against cyberattacks

March 29, 2023 2:56 PM CNN Newsource

By Jennifer Korn The Food and Drug Administration will now require medical devices meet specific cybersecurity guidelines after years of concerns that a growing number of internet-connected products used by hospitals and healthcare providers could be hit by hacks and ransomware attacks. Under FDA guidance issued this week, all new medical device applicants must now

Elon Musk and other tech leaders call for pause in ‘out of control’ AI race

March 29, 2023 11:18 AM CNN Newsource

By Samantha Murphy Kelly, CNN Business Some of the biggest names in tech are calling for artificial intelligence labs to stop the training of the most powerful AI systems for at least six months, citing “profound risks to society and humanity.” Elon Musk was among the dozens of tech leaders, professors and researchers who signed