Business News

Credit card debt held by Americans stands near an all-time high, according to the Federal Reserve Bank of New York, just as a rise in the Fed’s benchmark interest rate threatens to drive up borrowing costs.The spending crunch may push some debt holders to tap their 401(k) accounts as a means of paying down what they owe and resetting their finances. But experts who spoke to ABC News cautioned against […]

A sports car with a naturally aspirated V12 engine and a manual transmission? It's every enthusiast's dream.Buying one, however, requires deep pockets. The S1, Gordon Murray's latest supercar creation, reportedly costs at least seven figures. All 64 units were sold even before collectors, industry insiders and admirers of Murray got a sneak peek at the S1 in August.Murray himself has described the 681-horsepower car as "more elegant, more refined" but […]

OpenAI on Friday revealed another hack into a second Australian government agency, a week after the disclosure of an initial hack fueled public backlash against the ChatGPT-maker.An AI model gained access to fire statistics kept by a state agency in New South Wales (NSW) that were not publicly available from the department, OpenAI said in a statement to ABC News on Friday.The company discovered the incident as part of a […]

A jobs report on Friday will provide a key gauge of economic health as the United States weathers a surge of inflation set off by the Iran war seven months ago.The fresh data is set to arrive weeks after the Federal Reserve imposed its first interest rate hike in three years. The move aims to dial back price increases, but it risks an eventual slowdown in hiring as borrowing costs […]

(NEW YORK) -- A nonprofit artificial intelligence safety group has sued OpenAI over a July incident in which the company’s autonomous AI agents accessed the computer systems of another firm, Hugging Face, without authorization during a cybersecurity test.Legal Advocates for Safe Science & Technology (LASST) filed the lawsuit late Tuesday in San Francisco Superior Court, alleging roughly 700 of the company's AI agents participated in the breach.The AI agents stole […]

(WASHINGTON) A United States ban of hundreds of millions of dollars worth of Canadian products took effect on Tuesday, escalating a trade war between the longtime allies and pinching imports from one of the top U.S. trade partners.The ban applies to an array of products spanning from alcohol to motorcycles to dairy goods, White House documents show.In all, the affected products account for $967 million worth of annual imports from […]

(NEW YORK) -- Nvidia, a top chipmaker whose products fuel many artificial intelligence agents, released a software platform on Monday designed to prevent security incidents revealed by AI firms in recent months.The software aims to provide a "trust layer" for AI agents that insulates them from inadvertent exposure to other AI agents, digital products and the open internet over the duration of their existence, Nvidia said in a blog post."Recent […]

(WASHINGTON) -- The Department of Transportation is easing fuel economy standards that were put in place during the Biden administration.Transportation Secretary Sean P. Duffy said Monday that changing CAFE (corporate average fuel economy) standards for vehicles will make them more affordable by establishing “commonsense” guidelines for automakers.“This administration is delivering relief to families and reviving the beating heart of American manufacturing,” Duffy said. “With our commonsense standards in place, we […]

(WASHINGTON) -- Consumer sentiment dropped in September close to the lowest level ever recorded in the 74-year history of the University of Michigan's monthly survey, fresh data on Friday showed.Shopper attitudes soured as a monthlong bout of inflation squeezed consumers and an underlying oil supply shock showed little sign of imminent resolution.The final reading of the University of Michigan index registered at 48.1 in September, marking the second-lowest final reading […]