Story archive

Eight U.S. states have filed separate but coordinated lawsuits against OpenAI, alleging that the company's ChatGPT chatbot is dangerous to children and that the company misled the public regarding its safety safeguards. The states involved—Arizona, Arkansas, Idaho, Iowa, Kansas, Montana, Nebraska, and West Virginia—accuse OpenAI of violating consumer protection laws. The complaints allege the chatbot has provided dangerous medical advice, coached vulnerable users on self-harm, and promoted unhealthy behaviors. OpenAI defended its practices, citing industry-leading age-specific protections and expressing a commitment to working with regulators on industry-wide safety standards.

• Mainstream ·CNBC
• Mainstream ·The Guardian
• Trade ·The Verge
• +1 more

Abdulrahman Alfozan, a Saudi national and former engineering lead at OpenAI, has been arrested and charged with secretly installing a recording device in an executive conference room. Federal prosecutors revealed that Alfozan had booked one-way tickets to Saudi Arabia for himself and family members prior to his arrest on October 9, 2026. While Alfozan is also a venture partner at the Saudi-based firm Raed Ventures—which includes a member of the Saudi royal family as a partner—the current charges are limited to the illegal interception of communications and do not include trade secret theft or acting as a foreign agent. OpenAI stated they have found no evidence that model weights, source code, or customer data were compromised.

• Financial ·Fortune

Bank of America reported third-quarter 2026 earnings that were significantly impacted by a $1.21 billion regulatory penalty and a miss in trading revenue. The bank's profit fell 17% to $6.93 billion (91 cents per share), compared to $8.3 billion in the previous year. The penalty, the third-largest in U.S. Treasury history, stems from widespread failures to report over $5 billion in suspicious activity related to money laundering and sanctions violations. While net interest income slightly exceeded expectations, overall revenue of $30.12 billion fell short of analyst estimates due to a $750 million shortfall in Wall Street trading operations. Shares of the bank fell approximately 5% following the announcement.

• Financial ·MarketWatch
• Mainstream ·CNBC
• Tabloid ·New York Post
• +2 more

Ukraine reported unexpected speed restrictions on SpaceX's Starlink network, specifically impacting devices traveling over 100mph (160km/h), which disrupted battlefield missions during a major Russian attack. Elon Musk stated that the military-grade version, Starshield, is controlled by the US government and that any usage limits are dictated by the US military and President Donald Trump. While connectivity was partially restored by Wednesday evening, Ukrainian officials expressed concern that the timing of these restrictions was not coincidental, occurring amid diplomatic tensions between Kyiv and Washington over Ukrainian strikes on Russian energy infrastructure.

• Mainstream ·Axios

U.S. consumer prices rose 3.7% in September compared to a year ago, exceeding most economist forecasts. The increase was primarily driven by a 9.1% surge in gasoline prices linked to the U.S.-Israel war with Iran. This report serves as the final inflation data release before the November midterm elections, highlighting ongoing cost-of-living pressures as a key voter concern. Core inflation, which excludes volatile energy and food prices, rose to 2.6%. The data has increased market expectations for further Federal Reserve interest rate hikes to reach a 2% inflation target.

• Mainstream ·The New York Times
• Nonprofit ·Stateline
• Mainstream ·BBC
• +15 more

The Social Security Administration announced a 3.6% cost-of-living adjustment (COLA) for 2027, affecting roughly 76 million Americans. Starting in January 2027, Social Security retirees will see an average monthly increase of $75, while Supplemental Security Income (SSI) recipients will see increases starting December 31, 2026. The adjustment is the largest since 2023 and is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The announcement comes as recent data shows an annual inflation rate of 3.7%, driven largely by rising gasoline and energy costs.

• Mainstream ·CNBC
• Mainstream ·Washington Examiner
• Mainstream ·The New York Times

Netflix is laying off approximately 1,000 employees, representing roughly 6% of its global workforce. The cuts primarily target the company's product, technology, legal, and human resources departments. Co-CEOs Greg Peters and Ted Sarandos announced the decision in an internal memo, citing a need for discipline in resource prioritization despite maintaining that the business remains on track to meet full-year financial forecasts. The move comes as Netflix faces challenges with stagnating user engagement and increasing competition from platforms like YouTube and a proposed Skydance-Paramount-Warner Bros. Discovery merger.

• Mainstream ·Washington Times
• Mainstream ·CNBC
• Mainstream ·NBC News
• +1 more

Berkshire Hathaway has increased its ownership in the Italian technology company Bending Spoons to 4% following a new $330 million investment. This follows an initial $600 million investment made during the company's IPO in July 2026. The deal involves the issuance of 10 million ordinary shares at $33 per share, intended to provide Bending Spoons with additional financial flexibility for its ongoing mergers and acquisitions strategy. Following the disclosure of the investment in securities filings, Bending Spoons' shares rose significantly. This move marks a notable early decision under the leadership of Berkshire Hathaway's new CEO, Greg Abel.

• Mainstream ·CNBC
• Financial ·Wall Street Journal
• Financial ·Bloomberg Markets

The Bureau of Labor Statistics reported that U.S. consumer price inflation rose to 3.7% in September 2026, up from 3.4% in August. Core inflation, which excludes volatile food and energy, also increased to 2.6%. The report, the last major inflation data before the November midterm elections, identifies the ongoing war between the U.S.-Israel and Iran as a primary driver for the spike, particularly through energy costs. Gasoline prices surged 9.1% in September alone, while fuel oil and diesel remain at multi-year highs. Economists suggest the data increases the likelihood of further interest rate hikes by the Federal Reserve.

• Mainstream ·The Guardian

The Social Security Administration has announced a 3.6% cost-of-living adjustment (COLA) for 2027, affecting over 70 million recipients starting in January. This increase, which follows a 2.8% hike the previous year, is driven by recent inflationary pressures, particularly rising gas prices attributed to conflicts in the Middle East. While the adjustment is intended to help benefits keep pace with inflation, advocacy groups argue that the increase may not fully cover the rising costs faced by seniors, specifically in medical and housing expenses.

• Mainstream ·The New York Times
• Mainstream ·ABC News
• Mainstream ·Axios
• +2 more

Bank of America has been assessed a $1.2 billion penalty by the U.S. Treasury Department, including a record $750 million from the Office of the Comptroller of the Currency, for failures in its anti-money laundering and sanctions compliance programs. The Treasury cited the bank for failing to report over $5 billion in suspicious activities, including Chinese money laundering networks and illicit finance related to narcotics trafficking and the southwest border. While the bank acknowledged its responsibility for financial crime compliance and noted ongoing investments in remediation, the penalties significantly impacted its recent earnings report, dragging down profits to $6.9 billion ($0.91 per share).

• Tabloid ·New York Post
• Mainstream ·The Guardian

The U.S. Treasury Department fined Bank of America $1.21 billion for violating anti-money laundering and sanctions laws. The penalty, the third-largest in Treasury history, includes a record-breaking $750 million fine from the Office of the Comptroller of the Currency (OCC). Bank of America admitted to willfully violating the Bank Secrecy Act by failing to report over $5 billion in suspicious transactions, including activities linked to Chinese money laundering networks and illicit finance along the U.S. southwest border. The bank also settled 475 sanctions violations involving countries such as Russia, Iran, and Belarus. Bank of America stated it is committed to remediating its compliance systems and noted it has already invested heavily in financial crime prevention technology.

• Tabloid ·New York Post
• Mainstream ·CNBC
• Mainstream ·Axios
• +7 more

The Federal Trade Commission (FTC) and seven states have filed a motion to hold Martin Shkreli in civil contempt for allegedly violating his lifetime ban from the pharmaceutical industry. Authorities claim Shkreli traded stocks in over 60 pharmaceutical companies and publicly promoted biotech investing via live streams on platforms like YouTube and X. The motion seeks a full accounting of his trades, divestment of holdings, and monetary fines, with potential for further incarceration if violations continue.

• Mainstream ·The Guardian

The average 30-year fixed-rate mortgage in the United States has reached 7.4 percent, the highest level in nearly three years. This increase follows seven consecutive weeks of rising rates, contributing to a slowdown in the housing market and increasing financial pressure on prospective homebuyers.

• Mainstream ·The New York Times
• Mainstream ·Washington Times

Following LIV Golf's Chapter 11 bankruptcy filing in New Jersey, lawyers for Jon Rahm announced that the two-time major champion will not participate in the proposed restructuring known as 'LIV 2.0.' Rahm’s legal team characterized the new terms as 'unacceptable' and is currently negotiating a consensual separation agreement from the league. The restructuring comes after Saudi Arabia’s Public Investment Fund (PIF) ended its financial commitment to the tour, leading to significant layoffs, vendor lawsuits, and a proposed shift toward a 10-event league in 2027 funded by private equity firm BC Partners.

• Mainstream ·Fox News
• Tabloid ·New York Post

The 10- and 30-year U.S. Treasury bond yields hit 24-year highs during Wednesday morning trading, as the market sell-off persists. The 10-year note topped 5.36 percent earlier in the day, the highest mark since April 2002. That month, the 10-year bond yield reached a closing peak

• Mainstream ·The Hill
• Mainstream ·NBC News