Markets

Europe Seals World's First Set of Rules Regulating Artificial Intelligence

European Union officials reached a landmark deal Friday on regulating artificial intelligence rules around AI in systems like ChatGPT and facial recognition. The proposals lay the groundwork for the Artificial Intelligence Act, which will be voted on by the European Parliament and Council next year and will come into effect in 2025...

Apple and Paramount Eye Streaming Deal, Talks in Preliminary Stage

Streaming giants Apple and Paramount Global are reportedly exploring the possibility of joining forces to offer a bundled streaming service. The talks between the companies, which operate Apple+ and Paramount+ respectively, are said to be in the preliminary stages, according to anonymous sources cited by The Wall Street Journal. Paramount+, launched in 2021, currently boasts over 63 million subscribers as of the third quarter. Apple, on the other hand, does not disclose subscriber counts for Apple TV+ in its earnings reports...

Authors' Copyright Lawsuit Against OpenAI Over ChatGPT Begins

A significant copyright lawsuit has been launched against OpenAI by a group of popular fiction authors. The lawsuit alleges that OpenAI infringed their copyright works by using them to train ChatGPT, a groundbreaking generative AI chatbot. The Authors Guild filed the suit in federal court, seeking class-action status. The case has brought together prominent authors, such as David Baldacci, John Grisham, George R.R. Martin, and Jodi Picoult...

Elon Musk's X Faces Potential $75 Million Ad Revenue Loss Amidst Content Moderation Backlash

Elon Musk's social media platform, X (formerly known as Twitter), is at risk of losing up to $75 million in advertising revenue by the end of the year, as major brands are pausing their spending on the platform. According to a report by the New York Times, internal documents from X revealed that over 200 ad units of major brands like Airbnb, Amazon, Coca-Cola, and Microsoft have either halted or considered pausing advertising on the platform...

The Cost of Thanksgiving: A Historical High with a Ray of Hope

The cost of Thanksgiving, though lower than last year, will still be historically high, adding another pain point for consumers. According to the American Farm Bureau Federation’s 38th annual survey, the average cost of the classic holiday feast for 10 people this year is estimated at $61.17. That's down 4.5% from last year's record-high average of $64.05...