Business news

• Labor market nearing pre-pandemic conditions, Fed report says

  07-07-2024 22:33 via foxbusiness.com
  
  The Federal Reserve said Friday in a report to Congress that the U.S. labor market is back in the "tight but not overheated" situation it was in before the COVID pandemic threw the economy into disarray.The report noted that the job market "continued to rebalance over the first half of this year," and added: "Labor demand has eased, as many job openings have declined in many sectors of the economy, and labor supply has continued to increase, supported by a strong pace of immigration.""The balanc
  
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• Hacker accessed OpenAI's internal AI details in 2023 breach: report

  07-07-2024 21:46 via foxbusiness.com
  
  OpenAI was reportedly breached last year by a hacker who accessed the company's internal discussions about details of its artificial intelligence (AI) technologies.A report on Thursday by the New York Times citing two people familiar with the incident said a hacker accessed an online forum where OpenAI employees talked about its latest technologies.However, the breach didn't result in the hacker accessing systems where OpenAI houses and builds its AI, including the chatbot ChatGPT.OpenAI executi
  
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• Canada Industrial Relations Board deems port strike vote illegal

  07-07-2024 20:53 via cbc.ca
  
  ILWU Local 514 served a notice of intended strike action against DP World Canada that will begin on Monday. On Sunday, the Canada Industrial Relations Board determined the union did not bargain in good faith.
  
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• B.C. port employer threatens lockout after union's strike notice

  07-07-2024 20:53 via cbc.ca
  
  The B.C. Maritime Employers Association says it is requesting urgent intervention by the Canada Industrial Relations Board to divert a looming strike by a union representing ship and dock foremen.
  
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• Tesla investors turn stock around; Robotaxi buzz heats up

  07-07-2024 20:15 via foxbusiness.com
  
  Tesla shares are now positive for the year as downbeat investors change their tune on the outlook for Elon Musk’s electric vehicle maker with its highly anticipated Robotaxi on deck. The stock on Friday wrapped its longest winning streak since June 13, 2023, when it rose for 13 straight trading days, as tracked by Dow Jones Market Data Group, closing at $251.52 per share.The move erased its annual deficit, which last week was about 11%, and shares are now up 1.2% through Friday.  
  
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