Trump administration pushes tougher English rules for Mexican train crews crossing into the US
The Trump administration wants to make sure that the Mexican train crews hauling freight just over the border can understand key safety information in English and that the common practice of using foreign crews to cross into America doesn’t threaten U.S. jobs. Two major rail unions praised the proposed rule that was announced Friday. Other proposed changes would also strengthen the standards for certifying crews for safety. The Union Pacific and CPKC railroads would be directly affected by the restrictions on Mexican crews. Those railroads have said they are committed to operating safely and following rules. The Association of American Railroads trade group declined to comment while it studies the rule.
Major oil companies reap massive profits as US and Iran fighting drives energy prices higher
NEW YORK (AP) — Major oil companies reported massive profits while fighting between Iran and the U.S. impeded petroleum shipments. Prices for Brent crude soared above $100 a barrel for much of the spring. Constrained supplies meant consumers around the world paid more for fuel and confronted shortages. But higher prices resulted in elevated profits for some of the biggest publicly traded oil companies. American oil and gas giants Exxon Mobil and Chevron both more than doubled their profits in the second quarter. They are positioned to benefit because they own refineries and extract oil and gas. Democrats in Congress have proposed taxing oil producers for war-related windfalls.
Anthropic says its AI models hacked 3 organizations during testing
Anthropic says its AI models hacked into three organizations during testing. This comes just days after OpenAI said its AI models went rogue and hacked into another company. Anthropic, based in San Francisco, posted on its website that it discovered the incidents after reviewing over 141,000 evaluation runs. The company says it launched the large-scale cybersecurity review in response to the OpenAI incident. The models involved were Claude Opus 4.7, Claude Mythos 5 and an internal research test model. Anthropic says it reached out to the affected organizations, with two confirming they were unaware of the activity beforehand. The incidents highlight the vulnerabilities in AI security and controls, and raise questions over how AI can used safely.
New York sues prediction market platform Kalshi alleging 'illegal gambling operation'
New York officials have sued prediction market platform Kalshi for potentially billions of dollars, calling it an “illegal, unlicensed gambling operation” as the state seeks to halt its operations and force the company to forfeit its profits. New York joins a growing number of states filing lawsuits against Kalshi and other companies in a dispute with President Donald Trump’s administration over who regulates the fast-growing prediction market. New York's lawsuit was filed Friday in state Supreme Court in Manhattan. Kalshi and other platforms argue they are federally licensed and regulated, and states have no authority to govern them.
US stocks rise to finish a wild July as Amazon soars, Apple sinks and inflation worries worsen
NEW YORK (AP) — U.S. stocks rose to the finish of a wild July as Amazon leaped, Apple sank and rising oil prices worsened worries about inflation. The S&P 500 climbed 0.7% Friday after veering between gains and losses through the day. The Dow Jones Industrial Average added 0.5%, and the Nasdaq composite jumped 1%. Amazon soared after delivering a stronger profit for the spring than analysts expected, suggesting its big AI investments may be paying off. Apple dropped after giving a lackluster forecast for upcoming revenue growth. Treasury yields climbed as worries built in the bond market about inflation potentially remaining high.
FCC chairman defends actions against ABC, says broadcasters must operate 'in the public interest'
Federal Communications Commission Chairman Brendan Carr is defending the agency's actions against ABC, saying broadcasters have a duty to operate in the public interest. Carr's comments follow ABC's accusations this week that the FCC is retaliating against it for political content. ABC opposes the FCC's early review of its local broadcast licenses, claiming the review is an attempt to chill the network's protected free speech. The FCC's actions are part of a broader conflict with ABC. It is also seeking to impose equal-time rules on “The View,” a show whose content frequently angers President Donald Trump.
Regulators propose overhaul to law governing how banks lend to low-and-middle income communities
NEW YORK (AP) — The Trump Administration has announced changes to the Community Reinvestment Act, a law that requires regulators to document how well banks do in lending to low-to-middle income neighborhoods. One change would reduce the number of banks required to fully comply with the law. The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation proposed these changes Friday. The revisions, the first in nearly three decades, focus more on how banks lend to communities rather than the number of branches they open or deposits they take in. Critics argue the changes could discourage grants to certain community groups, particularly in rural areas.
Social media companies sued over deaths of four teens as pressure, lawsuits over child safety mount
The parents of four teenagers who died by suicide are suing Meta, TikTok, Snapchat, and YouTube. They claim the platforms caused “years of escalating harms” leading to their deaths. The lawsuit was filed Thursday in Delaware. The Social Media Victims Law Center represents the families from Texas, North Carolina, Minnesota, and Tennessee. The teens reportedly suffered from social media addiction, sleep deprivation, depression, and anxiety. The complaint alleges the companies knew they were causing harm. Meta, YouTube, TikTok, and Snap face numerous lawsuits over harms to minors.
Amazon to boost spending on AI and other technology by $20 billion after strong Q2 results
NEW YORK (AP) — Amazon said it will be increasing this year’s capital spending on technology, mostly artificial intelligence, by an additional 10% after the tech and e-commerce giant delivered strong profits and net sales during for fiscal second quarter, helped by surging growth in its prominent cloud computing unit. The e-commerce and technology company said Thursday that sales in its cloud computing unit called AWS were up 37% during the April-June period, faster than the 28% clip in the previous quarter and marking the fastest growth rate in 18 quarters. Amazon reported net income of $62.65 billion or $5.75 per share, in the three-month period ended June 30.
EU to crack down on AI deepfakes, illicit imagery and hacking with new team in Brussels
BRUSSELS (AP) — The European Union has introduced a new team to regulate AI companies globally. This move is part of the EU's aggressive approach to managing the high-tech sector amid rising concerns about AI's risks to society. Starting Sunday, AI companies must label or watermark AI-generated content under the new AI Act. Henna Virkkunen, the EU's tech sovereignty chief, emphasized the importance of building trust in AI. The EU is expanding its AI Office in Brussels with 38 new staff to monitor compliance. Companies failing to adhere to the regulations could face fines or market access restrictions.
