The number of initial claims for U.S. unemployment benefits rose to its highest level in eight months, exceeding economists’ predictions of 235,000 new applications. According to the Labor Department, the figure reached 247,000 for the week ending May 31, an increase of 8,000 from the previous week. Despite this uptick, overall filings for unemployment claims … Read more
Senator Elizabeth Warren and Representative Maxine Waters are pushing the Federal Reserve to reverse its recent decision to relax strict guidelines on Wells Fargo’s asset growth. The two Democrats, who serve on influential finance committees, argue that the current plan would lead to increased risk and instability in the financial sector. They urge the Fed … Read more
Researchers at Anthropic, an AI startup, are warning that artificial intelligence (AI) is rapidly advancing and may soon replace up to half of all entry-level office jobs. According to Dario Amodei, the company’s CEO, AI could automate away 50% of all entry-level white-collar jobs within five years. Anthropic experts predict a “drop in white-collar workers” … Read more
US Health Secretary Robert F. Kennedy Jr. announced plans to fast-track approval for rare disease treatments, aiming to make the country the hub of biotechnology innovation. The move comes as other countries, including China, accelerate their drug development processes. Kennedy made the comments during a meeting with industry executives, researchers, and FDA officials. Vinay Prasad, … Read more
EleutherAI, an AI research organization, has released the Common Pile v0.1, a large collection of licensed and open-domain text for training AI models. The dataset took two years to complete in collaboration with AI startups, academic institutions, and other organizations. It weighs 8 terabytes and is used to train two new AI models that rival … Read more
The US added 139,000 new jobs in May, with employment growth concentrated in two sectors: healthcare and restaurant services. When including March and April’s numbers, the total job gain is 406,000 more workers than in February. However, these gains are largely due to strong demand for health services and individual and family services. Employment in … Read more
US import tariffs have led to a record 20% drop in monthly imports, with goods from Canada and China experiencing their lowest levels since 2021 and 2020 respectively. The Commerce Department reported that US purchases from major trade partners fell sharply, contributing to a significant decline in the trade deficit. The decline is attributed to … Read more
Samsung’s upcoming foldable phone lineup has been leaked, revealing colors and storage options for the devices. The list of available colors includes the Galaxy Z Flip 7 in Black, Blue, and Coral Red, while the Galaxy Z Flip 7 FE will be offered in Black, White, and a new color. The Z Fold 7 will … Read more
Samsung’s weeklong Discover Samsung Sale has kicked off, offering the best Android smartwatch deals in a long time. The Galaxy Watch 7 is currently discounted by up to $175 when trading in an old device, bringing the price down to as low as $124.99. Even without trade-in, you can still score $100 off, matching Amazon’s … Read more
Google has rolled out minor updates to its Gemini Android app, simplifying key controls and making its conversational AI assistant easier to access. The latest stable version (16.21) brings back the familiar list view for the ‘+’ menu, which previously featured a side-by-side pill layout. The update also tweaks the prompt box chips, with Video … Read more