Things to know about an AI safety summit in Seoul

( ) -q-28- UNDATED (Correspondent Jeremy House) “of digital ministers.”

South Korea is hosting a mini-summit this week on risks and regulation of artificial intelligence.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: The meetings follow an inaugural AI safety meeting in Britain that drew a diverse crowd of tech luminaries, researchers and officials. The gathering in Seoul aims to build on work started at the U.K. meeting on reining in threats posed by cutting edge artificial intelligence systems. It will feature a leaders’ virtual summit co-chaired by South Korean President Yoon Suk Yeol and British Prime Minister Rishi Sunak along with an in-person meeting of digital ministers.

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Consumer sentiment drops to 6-month low on inflation, unemployment fears

( ) -q-20- UNDATED (Correspondent Jeremy House) “a year ago.”

Consumer sentiment fell sharply in May to the lowest level in six months.

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TAG: Correspondent Jeremy House reporting. Consumers’ outlook has generally been gloomy since the pandemic and particularly after inflation first spiked in 2021.

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VERBATIM: The drop came as Americans cited concerns about stubbornly high inflation and interest rates as well as fears that unemployment could rise. The University of Michigan’s consumer sentiment index dropped to 67.4 this month from a final reading of 77.2 in April. That is still about 14% higher than a year ago.

TikTok to start labeling AI-generated content as technology becomes more universal

( ) -q-23- UNDATED (Correspondent Jeremy House) “audio and video.”

TikTok says it’s going to start automatically labeling content that’s made by artificial intelligence when it’s uploaded from certain platforms.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: TikTok says its efforts are an attempt to combat misinformation from being spread on its social media platform. TikTok’s policy in the past has been to encourage users to label content that has been generated or significantly edited by AI. It also requires users to label all AI-generated content where it contains realistic images, audio and video.

European companies are less upbeat about China’s vast market as its economy slows

( ) -q-18- UNDATED (Correspondent Jeremy House) “weak job market.”

An annual survey of more than 500 European companies has found that slowing growth in China is weighing on company plans to expand their businesses in the world’s second largest economy.

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TAG: Correspondent Jeremy House reporting. The survey found that about one-third of the companies were optimistic about expanding their business this year, down from more than half in 2023, and only 15% were optimistic about profit growth.

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VERBATIM: China still ranks high as a place to invest. However, the share of companies considering an expansion of their operations in the country this year fell to 42%, the lowest ever recorded. The government is launching programs to boost consumer spending, but confidence remains low because of a weak job market.

Despite healthy economic indicators, lower-income spenders are showing the strain

( ) -q-20- UNDATED (Correspondent Jeremy House) “pressure to come.”

Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households.

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TAG: Correspondent Jeremy House reporting. Much of the commentary recently has come from big food and drink companies. Upcoming reports from Walmart, Dollar General and other retailers will offer more details.

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VERBATIM: Consumer goods giants from PepsiCo to Kraft Heinz have been describing recently how the combination of high inflation and higher interest rates is hurting their lower-income customers. Overall spending by U.S. consumers remains healthy. However, weakness at the bottom end of the income spectrum could be a warning signal of more pressure to come.

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US weekly jobless claims rise to highest level since August of 2023

( ) -q-20- UNDATED (Correspondent Jeremy House) “of August 2023.”

It’s another sign that the labor market may be softening.

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TAG: Correspondent Jeremy House reporting. In total, 1.79 million Americans were collecting jobless benefits during the week that ended April 27. That’s up 17,000 from the previous week. Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week.

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VERBATIM: The number of Americans applying for unemployment benefits jumped to its highest level in more than eight months last week. The Labor Department reports unemployment claims for the week ending May 4 rose by 22,000 to 231,000. Last week’s claims were the most since the final week of August 2023.

AstraZeneca pulls its COVID-19 vaccine from the European market

( ) -q-25- UNDATED (Correspondent Jeremy House) “clots were detected.”

The pharma giant AstraZeneca has requested that the European authorization for its COVID-19 vaccine be pulled.

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TAG: Correspondent Jeremy House reporting. Studies have since shown messenger RNA COVID vaccines to be more effective and AstraZeneca’s shot is rarely used globally.

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VERBATIM: In an update on the European Medicines Agency’s website, the regulator said that the approval for AstraZeneca’s Vaxzevria had been withdrawn at the company’s request. AstraZeneca’s vaccine was first approved by the EMA in January 2021. But within weeks, concerns grew about the vaccine’s safety, when dozens of countries suspended the vaccine’s use after rare blood clots were detected.

Gun thefts from cars are at triple the rate they were 10 years ago

( ) -q-25- UNDATED (Correspondent Jeremy House) “secure their firearms.”

The rate of guns stolen from cars in the U.S. has tripled over the last decade, making them the largest source of stolen guns in the country.

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TAG: Correspondent Jeremy House reporting. The findings are in a report provided to The Associated Press that analyzed FBI data from 337 cities in 44 states.

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VERBATIM: An analysis of FBI data by the gun safety group Everytown shows the rate of stolen guns from cars climbed nearly every year. It also spiked during the coronavirus pandemic along with a major surge in weapons purchases. The director of the Bureau of Alcohol, Tobacco, Firearms and Explosives says the alarming trend underscores the need for Americans to safely secure their firearms.

Japanese automaker Nissan reports 92% jump in profit as sales surge

( ) -q-22- UNDATED (Correspondent Jeremy House) “sports-utility vehicle.”

Nissan’s profit for the fiscal year through March has jumped 92% to 426.6 billion yen, or $2.7 billion.

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TAG: Correspondent Jeremy House reporting. Nissan sold 3.44 million vehicles globally for the year, up from 3.3 million vehicles the year before. Nissan has said it will mass produce electric vehicles powered by next-generation batteries by early 2029, offering solid-state batteries in a range of models, including pickup trucks.

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VERBATIM: The Japanese automaker’s sales grew in all major global markets except China. Nissan reported annual sales surged nearly 20%. Quarterly profit edged down slightly, while quarterly sales rose 13%. Nissan hopes to maintain its leadership in electric vehicles in the Japanese market with its Ariya sports-utility vehicle.

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Workers at Michigan Stellantis plant authorize strike over health, safety

( ) -q-24- UNDATED (Correspondent Jeremy House) “and Jeep Wagoneer.”

The United Auto Workers union says over 1,000 workers at a Stellantis metal stamping plant in Warren, Michigan, have voted to authorize a strike over health and safety issues.

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TAG: Correspondent Jeremy House reporting. Stellantis said it is committed to a safe work environment and to resolving the dispute without a work stoppage.

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VERBATIM: No word from the union on whether a deadline had been set. However, Stellantis says talks are ongoing and workers are still on the job. The UAW says grievances have been filed about problems with ventilation fans, personal protective equipment, flooding, oil leaks and other issues. The UAW says a strike could affect production of the Ram pickup, Jeep Wrangler and Jeep Wagoneer.

Redfin to pay $9.25 million to settle real estate broker commission lawsuits

( ) -q-27- UNDATED (Correspondent Jeremy House) “in recent months.”

Redfin has agreed to pay $9.25 million to settle several federal lawsuits.

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TAG: Correspondent Jeremy House reporting. The Seattle-based online brokerage and real estate services company disclosed the proposed settlement in a regulatory filing with the Securities and Exchange Commission.

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VERBATIM: The lawsuits claim U.S. homeowners were saddled with artificially inflated broker commissions when they sold their home as a result of longstanding real estate industry practices. The settlement would resolve pending class action lawsuits filed in federal court in the Western District of Missouri, and also shield the company and agents from similar cases around the country. Several other big brokerage operators and the National Association of Realtors agreed to settle the litigation in recent months.