(Reuters) – Drawn-out negotiations between the White House and Republicans to raise the $31.4 trillion debt ceiling have unnerved markets and fanned worries about the economic impact of a possible default. Global rating agencies have warned of a downgrade of the country if a deal is not reached soon. Following are some of the actions…
By Supantha Mukherjee and Martin Coulter (Reuters) – OpenAI has no plans to leave Europe, CEO Sam Altman said on Friday, reversing a threat made earlier this week to leave the region if it becomes too hard to comply with upcoming laws on artificial intelligence. The EU is working on what could be the first…
LONDON (Reuters) – Britain’s competition watchdog on Friday said social media giant Meta had offered to limit its use of other businesses’ advertising data for its Facebook Marketplace service to address the regulator’s competition concerns. The Competition and Markets Authority (CMA) said it was minded to accept the commitments, which include advertisers being able to…
WASHINGTON (Reuters) – The U.S. Department of Labor said on Friday it was providing up to $653 million in grants to state governments to help safeguard against fraud by updating their unemployment insurance (UI) information technology infrastructure. It said in a statement that $600 million in grants would also assist with improving service delivery. The…
(Reuters) – U.S. energy company Equitrans Midstream Corp’s long-delayed $6.6 billion Mountain Valley natural gas pipeline from West Virginia to Virginia received another negative court ruling on Friday. The U.S. Court of Appeals for the District of Columbia Circuit ruled the U.S. Federal Energy Regulatory Commission (FERC) “inadequately explained its decision not to prepare a…
By Hannah Lang WASHINGTON (Reuters) – The dollar was set for a third straight weekly gain on Friday, as markets raised bets on higher-for-longer interest rates and amid closely watched last-ditch talks on the U.S. debt ceiling. Apparent progress in the talks between President Joe Biden and top congressional Republican Kevin McCarthy helped ease investor…
By Kantaro Komiya TOKYO (Reuters) – Group of Seven (G7) nation officials will meet next week to consider problems posed by generative artificial intelligence (AI) tools like ChatGPT, Japan said on Friday. Leaders of the G7, which includes the United States, European Union and Japan, last week agreed to create an intergovernmental forum called the…
By David Lawder DETROIT (Reuters) -The International Monetary Fund said on Friday U.S. interest rates will likely need to remain higher for longer to tame inflation, and Washington needs to tighten fiscal policy to bring down its federal debt. The IMF said in a statement issued after its “Article IV” review of U.S. policies that…
NEW YORK (Reuters) – U.S. consumer spending increased more than expected in April, boosting the economy’s growth prospects for the second quarter, and inflation picked up, which could see the Federal Reserve keeping interest rates higher for some time. The Commerce Department said on Friday that the personal consumption expenditures (PCE) price index increased 0.4%…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending increased more than expected in April, boosting the economy’s growth prospects for the second quarter, and inflation picked up, which could prompt the Federal Reserve to raise interest rates again next month. The growth picture was further brightened by other data from the Commerce Department on…
