India  

Music Publishers Sue AI Startup Over 'Widespread' Copyright Infringement

Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Music Publishers Sue AI Startup Over 'Widespread' Copyright Infringement

Music Publishers Sue AI Startup Over 'Widespread' Copyright Infringement

Music Publishers Sue AI Startup , Over 'Widespread' Copyright Infringement.

On October 18, Universal Music filed a lawsuit against AI startup Anthropic over "systemic and widespread infringement of their copyrighted song lyrics.".

On October 18, Universal Music filed a lawsuit against AI startup Anthropic over "systemic and widespread infringement of their copyrighted song lyrics.".

NBC reports that two examples cited in the lawsuit are searches for Katy Perry and Gloria Gaynor's lyrics.

In the process of building and operating AI models, Anthropic unlawfully copies and disseminates vast amounts of copyrighted works, Universal Music lawsuit, via NBC.

Just like the developers of other technologies that have come before, from the printing press to the copy machine to the web-crawler, AI companies must follow the law, Universal Music lawsuit, via NBC.

NBC reports that other music publishers were also listed as plaintiffs in the case, including Concord and ABKCO.

In 2021, Anthropic was founded by former research executives from OpenAI, with funding from major companies like Google and Zoom.

In 2021, Anthropic was founded by former research executives from OpenAI, with funding from major companies like Google and Zoom.

Since March, the company has managed to raise $750 million in funding, with a total value now estimated at $4.1 billion.

In July, the company unveiled Claude 2, the latest iteration of its AI chatbot.

.

According to Anthropic, Claude 2 has the ability to summarize up to approximately 75,000 words.

.

By comparison, OpenAI's ChatGPT can only handle summaries up to about 3,000 words.

We have been focused on businesses, on making Claude as robustly safe as possible, Daniela Amodei, co-founder and president of Anthropic, via CNBC


You Might Like


💡 newsR Knowledge: Other News Mentions

Universal Music Group Universal Music Group Dutch–American music corporation

Universal Music Group to Pull Songs From TikTok [Video]

Universal Music Group to Pull Songs From TikTok

Universal Music Group , to Pull Songs From TikTok. Universal Music Group , to Pull Songs From TikTok. Unless TikTok and Universal Music Group (UMG) can come to an agreement, . music by Taylor Swift, Drake, Olivia Rodrigo and more will be removed from TikTok by the end of the day on Jan. 31, NBC News reports. . music by Taylor Swift, Drake, Olivia Rodrigo and more will be removed from TikTok by the end of the day on Jan. 31, NBC News reports. . music by Taylor Swift, Drake, Olivia Rodrigo and more will be removed from TikTok by the end of the day on Jan. 31, NBC News reports. . Compensation for artists is the heart of the issue. . TikTok proposed paying our artists and songwriters at a rate that is a fraction of the rate that similarly situated major social platforms pay, UMG, via statement. Ultimately TikTok is trying to build a music-based business, without paying fair value for the music, UMG, via statement. As our negotiations continued, TikTok attempted to bully us into accepting a deal worth less than the previous deal, far less than fair market value and not reflective of their exponential growth, UMG, via statement. TikTok has accused UMG of putting "their own greed above the interests of artists and songwriters.". The fact is they have chosen to walk away from the powerful support of a platform with well over a billion users that serves as a free promotional and discovery vehicle for their talent, TikTok, via statement. TikTok has been able to reach 'artist-first' agreements with every other label and publisher. Clearly, Universal's self-serving actions are not in the best interests of artists, songwriters and fans, TikTok, via statement. TikTok signed a licensing deal with Warner Music Group in 2023, NBC News reports.

Credit: Wibbitz Top Stories    Duration: 01:30Published
Universal Music Group threatens to pull millions of songs from TikTok in rights dispute [Video]

Universal Music Group threatens to pull millions of songs from TikTok in rights dispute

Millions of songs could disappear from TikTok after the world's biggest music company, Universal Music Group (UMG), accused the social media platform of bullying it into an unfair deal.

Credit: euronews (in English)    Duration: 00:35Published

NBC NBC American broadcast television network

'SNL 1975' Cast Revealed: Dylan O'Brien, Lamorne Morris and More | THR News Video [Video]

'SNL 1975' Cast Revealed: Dylan O'Brien, Lamorne Morris and More | THR News Video

Dylan O'Brien and Lamorne Morris are set to play two original 'Saturday Night Live' cast members in Jason Reitman's feature 'SNL 1975.' O'Brien has landed the role of Dan Aykroyd, while Morris is set to portray Garrett Morris. The movie is based on the screenwriters' interviews with the show's living cast, scribes and crew. It is set to focus on the formative moment in October 1975 when the NBC sketch show debuted.

Credit: The Hollywood Reporter    Duration: 01:37Published
Mark Zuckerberg Apologizes at Senate Hearing About Online Child Safety [Video]

Mark Zuckerberg Apologizes at Senate Hearing About Online Child Safety

Mark Zuckerberg Apologizes , at Senate Hearing About, Online Child Safety. On January 31, Meta CEO Mark Zuckerberg offered an apology to parents in attendance at a Senate online child safety hearing. NBC reports that the Senate Judiciary Committee Hearing focused on social media's negative impact on the mental health of children and teens. . Zuckerberg appeared at the hearing alongside CEOs from TikTok, Discord, X and Snap. NBC reports that Zuckerberg has faced intense criticism for child safety issues on multiple Meta platforms. NBC reports that Zuckerberg has faced intense criticism for child safety issues on multiple Meta platforms. Some of the issues Zuckerberg was questioned about include drug deaths tied to his platforms, "nonconsensual sexually explicit images of children on Instagram" and more, NBC News reports. . I’m sorry for everything you’ve all gone through. It’s terrible. , Mark Zuckerber, Meta CEO, via NBC. Following his apology, Zuckerberg attempted to reassure parents that the company was taking steps to ensure children's safety on its social media platforms. Following his apology, Zuckerberg attempted to reassure parents that the company was taking steps to ensure children's safety on its social media platforms. This is why we invest so much and are going to continue doing industry-leading efforts to make sure that no one has to go through the types of things that your families have had to suffer, Mark Zuckerber, Meta CEO, via NBC. This is why we invest so much and are going to continue doing industry-leading efforts to make sure that no one has to go through the types of things that your families have had to suffer, Mark Zuckerber, Meta CEO, via NBC. Parents in attendance were reportedly pushing for the passage of the Kids Online Safety Act (KOSA). . NBC reports that KOSA would create a duty of care, or a legally binding obligation to adhere to a standard of reasonable care, for social media platforms.

Credit: Wibbitz Top Stories    Duration: 01:31Published
Megan Thee Stallion and Nicki Minaj Escalate Feud With Diss Tracks [Video]

Megan Thee Stallion and Nicki Minaj Escalate Feud With Diss Tracks

Megan Thee Stallion , and Nicki Minaj , Escalate Feud With Diss Tracks. Megan Thee Stallion , and Nicki Minaj , Escalate Feud With Diss Tracks. NBC reports that an ongoing feud between the rappers has boiled over with the release of Minaj's new diss track, "Big Foot.". NBC reports that an ongoing feud between the rappers has boiled over with the release of Minaj's new diss track, "Big Foot.". The song debuted just days after Megan released her own diss track, titled "Hiss.". On "Hiss," Megan reportedly appears to reference Minaj's husband, Kenneth Petty, who is a registered sex offender in California. On "Hiss," Megan reportedly appears to reference Minaj's husband, Kenneth Petty, who is a registered sex offender in California. NBC explains the lyrics, , "These h--- don’t be mad at Megan/ these h--- mad at Megan’s Law," , refers to a federal law which requires convicted sex offenders to register with the state. NBC explains the lyrics, , "These h--- don’t be mad at Megan/ these h--- mad at Megan’s Law," , refers to a federal law which requires convicted sex offenders to register with the state. While the lyrics don't mention either Petty or Minaj by name, fans have speculated that the track fits in to the ongoing celebrity feud. While the lyrics don't mention either Petty or Minaj by name, fans have speculated that the track fits in to the ongoing celebrity feud. Following the release of "Hiss," Minaj posted a flood of attacks on X and Instagram aimed at Megan prior to the release of her own diss track. Minaj's track not only references Megan by name, but also goes into the death of Megan's mother, Holly Thomas, in 2019 from a brain tumor. . The title of the track, "Big Foot," is reportedly a reference to rapper Tory Lanez shooting Megan in the foot in 2020. The title of the track, "Big Foot," is reportedly a reference to rapper Tory Lanez shooting Megan in the foot in 2020. NBC reports that response from fans of both rappers has been mixed, with some cheering the conflict on and others suggesting it has gone too far. . One fan reportedly wrote that fans of Minaj had publicly released the location of Megan's mother's grave and were being urged by Minaj to disturb the site.

Credit: Wibbitz Top Stories    Duration: 01:32Published
Backup Camera Glitch Prompts Tesla to Recall 200,000 Vehicles [Video]

Backup Camera Glitch Prompts Tesla to Recall 200,000 Vehicles

Backup Camera Glitch , Prompts Tesla to Recall , 200,000 Vehicles. NBC reports that Tesla will recall approximately 200,000 vehicles over a software glitch that could cause rearview cameras to display incorrectly. . In a document posted on the National Highway Traffic Safety Administration's website, Tesla said that impacted models include 2023 versions of Models S, X and Y. According to Tesla, a free over-the-air (OTA) software update has been released to address the potential issue. . Owners can reportedly expect notification letters of the changes to be mailed by March 22, 2024. NBC reports that this is the 15th Tesla recall in the last year. . Issues related to Tesla's Autopilot driver-assist feature prompted the company to recall over 2 million vehicles, impacting nearly the entire U.S. fleet. Earlier this week, Tesla warned of slower sales in 2024, while highlighting increased competition from China's BYD electric carmaker. Earlier this week, Tesla warned of slower sales in 2024, while highlighting increased competition from China's BYD electric carmaker. Tesla CEO Elon Musk reportedly said the company remains focused on developing a cheaper, next-generation electric vehicle (EV). . Tesla CEO Elon Musk reportedly said the company remains focused on developing a cheaper, next-generation electric vehicle (EV). . NBC reports that the more accessible EV model may not be released until the second half of 2025. Tesla's overall market valuation has already fallen by $210 billion this January alone.

Credit: Wibbitz Top Stories    Duration: 01:30Published
Amazon Says Police Will No Longer Be Able to Request Ring Doorbell Footage From Users [Video]

Amazon Says Police Will No Longer Be Able to Request Ring Doorbell Footage From Users

Amazon Says Police Will , No Longer Be Able to Request , Ring Doorbell Footage From Users. On January 24, Ring announced plans in a blog post to discontinue its 'Request for Assistance' tool. . On January 24, Ring announced plans in a blog post to discontinue its 'Request for Assistance' tool. . NBC reports that Amazon's Ring will no longer allow law enforcement to request a user's doorbell video footage in its neighborhood watch app. NBC reports that Amazon's Ring will no longer allow law enforcement to request a user's doorbell video footage in its neighborhood watch app. The app previously allowed police to submit requests for users' footage through a publicly accessible post in the Neighbors app. The app previously allowed police to submit requests for users' footage through a publicly accessible post in the Neighbors app. Public safety agencies like fire and police departments can still use the Neighbors app to share helpful safety tips, updates, and community events, Eric Kuhn, Head of Neighbors, via NBC. They will no longer be able to use the RFA tool to request and receive video in the app, Eric Kuhn, Head of Neighbors, via NBC. In 2021, Ring made police requests for user footage public in the Neighbors app. Prior to that decision, police could message users privately to request access to their smart doorbell camera footage. Law enforcement will still be able to gain access to footage through search warrants and subpoenas. NBC reports that Ring has prompted concerns over privacy due to controversial deals with hundreds of police departments across the U.S. . Meanwhile, the company's Neighbors app has allegedly heightened the risk of racial profiling and turned people's neighbors into informants. . Meanwhile, the company's Neighbors app has allegedly heightened the risk of racial profiling and turned people's neighbors into informants.

Credit: Wibbitz Top Stories    Duration: 01:31Published

Google Google American multinational technology company

Google’s CEO Says There Will Be More Layoffs [Video]

Google’s CEO Says There Will Be More Layoffs

Google’s CEO Says , There Will Be More Layoffs. Google CEO Sundar Pichai sent a companywide memo on Jan. 17 detailing more job cuts on the horizon, according to CNN. Google CEO Sundar Pichai sent a companywide memo on Jan. 17 detailing more job cuts on the horizon, according to CNN. The layoffs come as Google shifts its focus "toward artificial intelligence 'and beyond,'" CNN reports. . While the scale of the impending layoffs won't be as large as the job cuts last year. “some teams will continue to make specific resource allocation decisions throughout the year where needed, and some roles may be impacted,” Pichai wrote. We have ambitious goals and will be investing in our big priorities this year. , Sundar Picahi, via memo to employees. The reality is that to create the capacity for this investment, we have to make tough choices …. [and] to simplify execution and drive velocity in some areas, Sundar Picahi, via memo to employees. I know it’s very difficult to see colleagues and teams impacted. , Sundar Picahi, via memo to employees. Google is reportedly offering to help affected workers find new jobs. Meanwhile, on Jan. 17, 'The New York Times' reported that YouTube was also laying off 100 employees. A Google spokesperson confirmed both Pichai's memo and the YouTube layoffs to CNN. . A Google spokesperson confirmed both Pichai's memo and the YouTube layoffs to CNN.

Credit: Wibbitz Top Stories    Duration: 01:31Published
Google layoffs: Google unveils new round of layoffs, expresses regret | Oneindia News [Video]

Google layoffs: Google unveils new round of layoffs, expresses regret | Oneindia News

In a shocking move, Google, the tech behemoth, has announced a significant round of layoffs, affecting as many as 1,000 employees across various departments. Reports suggest that the layoffs include personnel from Google's hardware, central engineering teams, and Google Assistant. #Google #Alphabet #GoogleLayoffs ~PR.151~ED.194~

Credit: Oneindia    Duration: 02:08Published
Hundreds of Twitch and Prime Video Workers to Be Laid Off [Video]

Hundreds of Twitch and Prime Video Workers to Be Laid Off

Hundreds of Twitch and Prime Video Workers , to Be Laid Off. Hundreds of Twitch and Prime Video Workers , to Be Laid Off. According to an internal Amazon memo sent to staff on Jan. 10, several hundred Prime employees will lose their jobs, 'The Guardian' reports. We’ve identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact. , Mike Hopkins, senior vice-president of Prime Video and Amazon MGM Studios, to employees. The news comes the same day that Twitch, an Amazon subsidiary, revealed that it would also be laying off about 500 employees. . We still have work to do to rightsize our company. For some time now the organization has been sized based upon where we optimistically expect our business to be in three or more years, not where we’re at today, Dan Clancy, Twitch's chief executive, via blogpost. In recent years, Amazon has invested heavily in its media business, 'The Guardian' reports. In recent years, Amazon has invested heavily in its media business, 'The Guardian' reports. Such investments include an $8.5 billion MGM deal and $46 million for season one of 'The Lord of the Rings: The Rings of Power.'. Prime Video is expected to roll out ads on the platform soon. It will also offer a higher-priced, ad-free subscription tier in various markets. . Last year, Amazon, Facebook, Microsoft and Google cut thousands of jobs. Last year, Amazon, Facebook, Microsoft and Google cut thousands of jobs. Last year, Amazon, Facebook, Microsoft and Google cut thousands of jobs. Last year, Amazon, Facebook, Microsoft and Google cut thousands of jobs

Credit: Wibbitz Top Stories    Duration: 01:30Published
Maldives Boycott Row: Google searches show huge spark in interest for Lakshadweep | Oneindia [Video]

Maldives Boycott Row: Google searches show huge spark in interest for Lakshadweep | Oneindia

In the year 2021, the lingering impact of the Covid-19 pandemic cast a shadow on India's tourism industry. Prime Minister Narendra Modi took to Twitter, encouraging everyone to explore the tulip garden nestled at the foothills of the Zabarwan range in Jammu and Kashmir. His tweet not only highlighted the natural beauty but also appealed to experience the warm hospitality of the people in the Union Territory. This single tweet triggered a surge in visitors to the tourism-starved Valley. As we entered 2024, it appears that the Prime Minister has once again employed a similar strategy, this time focusing on Lakshadweep—a tropical archipelago comprising 36 atolls and coral reefs in the Laccadive Sea, off the coast of Kerala. #ExploreIndianIslands #GoogleSearchLakshadweep #SupportDomesticTourism #CelebrateIndianArchipelago #TravelLocalIndia #AkshayKumar #ShraddhaKapoor #KanganaRanaut #SachinTendulkar #HardikPandya #SalmanKhan #RediscoverLakshadweep #TourismUnity #PMModiInitiative #IndianCelebsForLocalTourism #MaldivesControversy #ShowcaseIndianBeauty #IncredibleIndia #CelebsStandWithPMModi #TourIndiaNotMaldives #ChooseDomesticDestinations #IndianIslandExploration #PatrioticTourism #IndianTourismRocks #SayNoToMaldives #DiscoverLocalWonders #UnityInTourism ~PR.152~ED.101~

Credit: Oneindia    Duration: 03:17Published
Google's DeepMind Pens 'Robot Constitution' to Govern Helper Robots [Video]

Google's DeepMind Pens 'Robot Constitution' to Govern Helper Robots

Google's DeepMind , Pens 'Robot Constitution' , to Govern Helper Robots. On January 4, Google announced a set of rules meant to govern the artificial intelligence system behind the company's intelligent machines. Gizmodo reports that the so-called 'Robot Constitution' is based on Isaac Asimov's 'Three Laws of Robotics.'. Gizmodo reports that the so-called 'Robot Constitution' is based on Isaac Asimov's 'Three Laws of Robotics.'. Before robots can be integrated into our everyday lives, they need to be developed responsibly with robust research demonstrating their real-world safety, Google DeepMind robotics team, via blog post. The 'Robot Constitution' was written by Google's DeepMind, the tech company's primary AI research wing. Google reportedly has plans for intelligent robots to soon help around homes and offices in the near future. These robotic helpers would run on a system of large language models (LLMs) and neural networks that would allow them to make decisions and be aware of their surroundings. Google says the 'Robot Constitution' is meant to act as part of a system of "layered safety protocols" which govern the machines that have already been deployed on the company's campus. DeepMind has currently deployed 52 unique robots that have performed 6,650 different tasks over the course of 77,000 robotic trials. Google's robot assistants are not allowed to accept tasks that involve humans, animals, sharp objects or electrical appliances. Gizmodo reports that the machines currently being tested by Google have only operated under the watchful eye of a human supervisor holding a physical kill switch.

Credit: Wibbitz Top Stories    Duration: 01:30Published

OpenAI OpenAI Artificial intelligence research organization

OpenAI CEO Sam Altman's Magical Wedding Day with Long-Time Love Oliver Mulherin | Oneindia News [Video]

OpenAI CEO Sam Altman's Magical Wedding Day with Long-Time Love Oliver Mulherin | Oneindia News

Join us in celebrating the joyous union of OpenAI CEO Sam Altman and his long-time partner, Oliver Mulherin! Dive into the magical moments of their wedding day, filled with love, laughter, and a touch of AI brilliance. Wishing the happy couple a lifetime of happiness! #OpenAI #ArtificialIntelligence #OpenAICEO #SamAltman #SamAltmanWedding #OliverMulherin #SamOliver #News #NewsToday #OneindiaNews ~HT.292~PR.274~ED.101~GR.125~

Credit: Oneindia    Duration: 01:41Published
EU to Check Whether Microsoft’s Investment in OpenAI Falls Under Merger Rules [Video]

EU to Check Whether Microsoft’s Investment in OpenAI Falls Under Merger Rules

EU to Check Whether , Microsoft’s Investment in OpenAI , Falls Under Merger Rules. On January 9, the European Union announced an investigation to determine if Microsoft's massive investment in OpenAI violates the bloc's merger regulations. On January 9, the European Union announced an investigation to determine if Microsoft's massive investment in OpenAI violates the bloc's merger regulations. TechCrunch reports that the news comes after turmoil at OpenAI which saw the board of directors oust the company's founder and CEO, Sam Altman. . TechCrunch reports that the news comes after turmoil at OpenAI which saw the board of directors oust the company's founder and CEO, Sam Altman. . The surprising decision triggered an aggressive response by Microsoft, which offered to hire Altman and any other OpenAI staffers looking to leave the generative AI company. The surprising decision triggered an aggressive response by Microsoft, which offered to hire Altman and any other OpenAI staffers looking to leave the generative AI company. Ultimately, OpenAI reversed the board's initial decision, bringing Altman back to lead the company. A new board was then formed, which saw the departure of members who had voted in favor of removing Altman. A new board was then formed, which saw the departure of members who had voted in favor of removing Altman. The new board also includes Microsoft representation for the first time in the form of a non-voting, observer member. TechCrunch reports that the high-profile upheaval, combined with Microsoft's major 49% stake in OpenAI, has garnered the attention of regulators. At the close of 2023, the Competition and Markets Authority launched an investigation aimed at deciding if OpenAI and Microsoft are in a , "relevant merger situation.". Last fall, Germany's Federal Cartel Office (FCO) concluded that the business arrangement was not "currently" subject to merger control. If Microsoft were to increase its influence on OpenAI in the future, it would have to be re-examined whether a notification obligation exists under competition law, Germany's Federal Cartel Office (FCO), via TechCrunch

Credit: Wibbitz Top Stories    Duration: 01:31Published
New York Times sues OpenAI, Microsoft for infringing copyrighted works [Video]

New York Times sues OpenAI, Microsoft for infringing copyrighted works

Credit: FRANCE 24 English    Duration: 01:38Published

CNBC CNBC American television business news channel

Meta Exceeds $1 Trillion in Market Cap [Video]

Meta Exceeds $1 Trillion in Market Cap

Meta Exceeds $1 Trillion , in Market Cap. On Jan. 24, Meta closed at $390 a share to pass $1 trillion in market cap, CNBC reports. . The last time that the company surpassed $1 trillion in market cap was in 2021 under the Facebook name. The last time that the company surpassed $1 trillion in market cap was in 2021 under the Facebook name. That was also the first time the company reached the milestone. . Meta's improved stock performance follows a surge of almost 200% last year. The surge came as CEO Mark Zuckerberg implemented cost-cutting tactics such as laying off over 20,000 people. The surge came as CEO Mark Zuckerberg implemented cost-cutting tactics such as laying off over 20,000 people. Zuckerberg referred to 2023 as a "year of efficiency," CNBC reports. . The CEO recently announced that Meta will acquire 350,000 H100 Nvidia graphics cards by the end of 2024... The CEO recently announced that Meta will acquire 350,000 H100 Nvidia graphics cards by the end of 2024... ... in addition to "almost 600k H100 equivalents of compute if you include other GPUs." . Meanwhile, Microsoft hit a market cap milestone on Jan. 24 as well, briefly passing $3 trillion

Credit: Wibbitz Top Stories    Duration: 01:30Published
Amazon Fined by French Regulator for ‘Excessively Intrusive’ Staff Surveillance [Video]

Amazon Fined by French Regulator for ‘Excessively Intrusive’ Staff Surveillance

Amazon Fined by French Regulator , for ‘Excessively Intrusive’ Staff Surveillance. The French Data Protection Authority (CNIL) announced on Jan. 23 that the manager of the retailer's large warehouses in the country has been fined $34.7 million, CNBC reports. . According to the French regulator, Amazon France Logistique provided employees with scanners to document workplace tasks. The data from the scanners was used to determine the “quality, productivity and periods of inactivity of each employee,” the regulator said. . According to CNIL, "it was illegal to set up a system measuring work interruptions with such accuracy, potentially requiring employees to justify every break or interruption.”. According to CNIL, "it was illegal to set up a system measuring work interruptions with such accuracy, potentially requiring employees to justify every break or interruption.”. The practice has been deemed “excessively intrusive.”. Amazon France Logistique reportedly broke several rules established by the European Union's General Data Protection Regulation (GDPR). . Amazon has since issued a statement. . We strongly disagree with the CNIL’s conclusions which are factually incorrect and we reserve the right to file an appeal, Amazon, via statement. Warehouse management systems are industry standard and are necessary for ensuring the safety, quality, and efficiency of operations and to track the storage of inventory and processing of packages on time and in line with customer expectations, Amazon, via statement

Credit: Wibbitz Top Stories    Duration: 01:31Published
Ron DeSantis Drops Out of 2024 Presidential Race [Video]

Ron DeSantis Drops Out of 2024 Presidential Race

Ron DeSantis Drops Out , of 2024 Presidential Race. On Jan. 21, two days ahead of the New Hampshire primary, DeSantis ended his presidential campaign, CNBC reports. . If there was anything I could do to produce a favorable outcome — more campaign stops, more interviews — I would do it, , Ron DeSantis, via X. ... but I can’t ask our supporters to volunteer their time and donate their resources if we don’t have a clear path to victory, Ron DeSantis, via X. Accordingly, I am today suspending my campaign, Ron DeSantis, via X. DeSantis went on to endorse Donald Trump. Trump is superior to the current incumbent Joe Biden. That is clear, Ron DeSantis, via X. I signed a pledge to support the Republican nominee and I will honor that pledge. , Ron DeSantis, via X. He has my endorsement because we can’t go back to the old Republican Guard of yesteryear, a repackaged form of warmed-over corporatism that Nikki Haley represents, Ron DeSantis, via X. He has my endorsement because we can’t go back to the old Republican Guard of yesteryear, a repackaged form of warmed-over corporatism that Nikki Haley represents, Ron DeSantis, via X. Trump thanked DeSantis for his endorsement. As you know, he left the campaign trail today at 3 p.m. and in so doing, he was very gracious and he endorsed me, so I appreciate that, Donald Trump, via statement. I also look forward to working with Ron and everybody else to defeat crooked Joe Biden, Donald Trump, via statement. Trump also said that the "DeSanctimonious" nickname was "officially retired," according to HuffPost

Credit: Wibbitz Top Stories    Duration: 01:31Published
Weekly Jobless Claims Drop to Lowest Level Since September 2022 [Video]

Weekly Jobless Claims Drop to Lowest Level Since September 2022

Weekly Jobless Claims , Drop to Lowest Level Since , September 2022. CNBC reports that the labor market has started 2024 with surprising resiliency, posting an unexpected drop in initial jobless claims. For the week ending January 13, initial filings for unemployment insurance totaled 187,000, the lowest amount since September of 2022. According to the latest Labor Department data, the total marked a 16,000 decline from the week before and came in under Dow Jones estimates. The labor market has remained resilient despite the Federal Reserve's attempts to slow the economy with an interest rate-hiking campaign. Not only did weekly claims drop, but continuing claims also saw a surprising decrease of 26,000, bringing the total down to 1.806 million. . Employers may be adding fewer workers monthly, but they are holding onto the ones they have and paying higher wages given the competitive labor market, Robert Frick, corporate economist at Navy Federal Credit Union, via CNBC. Another report, released on January 18, showed the housing market improving with building permits increasing by 1.9% to a total of 1.495 million. CNBC reports that the news comes one day after the Fed released its periodic summary of economic conditions, which detailed mostly stagnant activity since late November. The central bank's 'Beige Book' report noted signs of a "cooling labor market" with lower wage pressures. . The central bank's 'Beige Book' report noted signs of a "cooling labor market" with lower wage pressures. . The report also highlighted the impact of higher rates on the housing market, which could improve in the future if the Fed decides to ease its efforts to tame inflation.

Credit: Wibbitz Top Stories    Duration: 01:31Published
Biden Admin Seeks to Reduce Bank Overdraft Fees With New Proposal [Video]

Biden Admin Seeks to Reduce Bank Overdraft Fees With New Proposal

Biden Admin Seeks , to Reduce Bank Overdraft Fees , With New Proposal. CNBC reports that the Consumer Financial Protection Bureau (CFPB) has unveiled long-awaited updates to how major banks structure their overdraft protection plans. . CNBC reports that the Consumer Financial Protection Bureau (CFPB) has unveiled long-awaited updates to how major banks structure their overdraft protection plans. . According to the CFPB, the new rule closes a loophole that has exempted overdraft loans from consumer protections required by 1968's Truth and Lending Act. According to the CFPB, the new rule closes a loophole that has exempted overdraft loans from consumer protections required by 1968's Truth and Lending Act. CFPB data shows that U.S. consumers have paid an estimated $280 billion in bank overdraft fees since 2000. Over that same period of time, major banks' annual revenue from overdraft fees has soared. For too long, some banks have charged exorbitant overdraft fees— sometimes $30 or more—that often hit the most vulnerable Americans the hardest, all while banks pad their bottom lines, Joe Biden, President of the United States, via CNBC. Banks call it a service — I call it exploitation, Joe Biden, President of the United States, via CNBC. The CFPB said that the new regulations only affect banks with over $10 billion in assets, impacting about 175 institutions across the country. The new rules, including several potential benchmark rates ranging from $3 to $14 per transaction, are reportedly expected to be completed this year and go into effect by October 2025. CNBC reports that the new rules would provide major banks two options, including offering overdraft coverage as a courtesy service, as opposed to a revenue-generating line of credit. Under the second option, banks could offer overdraft loans for profit as long as they treat the funds as credit line loans, which would subject them to Truth in Lending Act regulations

Credit: Wibbitz Top Stories    Duration: 01:30Published