Year: 2024

Aug
16
2024
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By Lily Chang
Silicon Valley stirs as California proposes tough artificial intelligence legislation

Silicon Valley stirs as California proposes tough artificial intelligence legislation

Science and Technology
SAN FRANCISCO AND WASHINGTON — In what could be a groundbreaking step for AI regulation, a California bill is making waves in the Silicon Valley tech landscape. Spearheaded by state Sen. Scott Wiener, the legislation seeks to address the growing risks associated with advanced AI technologies. The bill is currently working its way through the legislative process in Sacramento and is expected to be considered by the California State Assembly Appropriations Committee later this week. If it passes, it will go to the full House for a vote. Gov. Gavin Newsom, if he signs the bill, would approve a framework…
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Aug
16
2024
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By Lily Chang
Consumer spending rose in July, with retail sales rising 1%, much better than expected

Consumer spending rose in July, with retail sales rising 1%, much better than expected

Social Responsibility
In a strong display of consumer resilience, July retail sales beat expectations, rising 1%, the Commerce Department reported. The gain, which was adjusted for seasonal variations but not for inflation, beat the modest 0.3% increase forecast by economists polled by Dow Jones. The adjustment followed a downward revision to June's figures, which showed a 0.2% decline from initially reported flat growth. Excluding auto-related sales, retail data still showed a positive trend, rising 0.4%, again beating the 0.1% forecast. The positive retail trade figures were complemented by encouraging developments in the employment sector. The week ended August 10 saw initial jobless…
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Aug
16
2024
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By Lily Chang
Raiders to honor Hall of Fame inductee Jim Otto at pregame ceremony before game vs. Cowboys

Raiders to honor Hall of Fame inductee Jim Otto at pregame ceremony before game vs. Cowboys

Culture and Entertainment
This Saturday, the Raiders will host a special tribute to Hall of Famer Jim Otto at Allegiant Stadium, shortly before their preseason game with the Dallas Cowboys. The ceremony will feature Jim Otto's family, with his widow, Surprisewill, leading approximately ten family members in lighting the Al Davis Memorial Torch. This act of remembrance takes place before the game's kickoff, honoring Otto's extraordinary legacy. In honor of Otto’s remarkable impact on the team, the Raiders will continue to feature his No. 00 on their helmet decals, a tribute that began last week during their season-opening game in Minnesota. The team…
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Aug
16
2024
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By Lily Chang
U.S. inflation falls to its lowest level in three years and prepares for possible rate cut

U.S. inflation falls to its lowest level in three years and prepares for possible rate cut

Politics
The United States recorded its lowest annual inflation rate in three years in July, signaling a slowdown in the smallest price increases seen in nearly four decades. That development could allow the Federal Reserve to consider cutting interest rates as early as September. The Labor Department reported that consumer prices rose just 0.2% from June to July, marking a slight acceleration but the first of its kind in four years. On an annual basis, the inflation rate came in at 2.9%, down from 3% in June, marking the lowest annual rate since March 2021. This easing of inflation could play…
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