Have we lost control of AI? Sony, TikTok and Wells Fargo share case studies
From Reuters Momentum Last week, Sam Altman, CEO, OpenAI admitted to United States Congress that his “worst fear” is that our use of AI could “cause significant harm to the world.” At this AI inflection point for business, 250+ senior leaders will…
Pfizer rolling back drug price hikes after talk with Trump
From Newsmax President Donald Trump on Tuesday said Pfizer Inc was rolling back drug prices after he spoke with Pfizer’s chief executive officer and U.S. Health and Human Services Secretary Alex Azar. “We applaud Pfizer for this decision and desire…
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The Editor speaks: No Robin Hood v The Sheriff of Nottingham
We have another case today (published in iNews Briefs) of banking fraud. The story is headlined “Banks accused of rigging Canadian rate benchmark”. It involves “Nine large banks, including six from Canada”, who have been accused of “conspiring to rig…
$12 billion lawsuit claims CenturyLink routinely ‘defrauded’ cable customers
By Chris Mills From BGR It’s tough being a cable company. You have this perfect monopoly over a valuable resource, but customers keep on complaining about “service” and “price” and “satisfaction.” So your only option to generate more record profits…
Wells Fargo tries, fails to explain why customers shouldn’t be allowed to sue over fake accounts
By Chris Morran From Consumerist Wells Fargo has admitted that thousands of its employees opened fake, unauthorized accounts in customers’ names, but the bank is doing everything it can to prevent these wronged customers from having their day in court….
Wells Fargo already playing its ‘Get Out Of Jail Free’ card to avoid lawsuits over fake accounts
By Chris Morran From Consumerist Wells Fargo is facing multiple lawsuits from customers and employees over the long-running fake account fiasco that saw more than two million bogus, unauthorized accounts being opened in customers’ names. Even though lawmakers and consumer…
The disturbing Facebook scandal we’re all ignoring
By David Dayen, The Fiscal Times From Business Insider Imagine if a report came out showing evidence that Wells Fargo violated the Fair Housing Act by hiding certain home listings from African-Americans. Every politician in Washington would condemn the bank…
Ohio also decides it’s time to take a break from doing business with Wells Fargo
By Chris Morran From The Consumerist Following in the footsteps of Illinois and California, the state of Ohio has become the latest to take a break from doing business with Wells Fargo until the dark cloud of the current fake…
US Lawmaker presents Wells Fargo with evidence of potential account fraud from 200
By Chris Morran From Consumerist At [Thursday’s 29 contentious House Financial Services Committee hearing on the Wells Fargo fake account fiasco, CEO John Stumpf said his bank was reviewing accounts going back to 2009 to see how long employees had been…
How much of America do foreigners really own?
By Joseph Adinolfi From Marketwatch The Commerce Department released its latest data on foreign ownership of U.S. assets on Tuesday. And its findings may be surprising to some. According to the data, the value of foreign-owned American assets climbed to…
