US hiring stalls with employers reluctant to expand in an economy grown increasingly erratic
WASHINGTON (AP) — The American job market, a pillar of U.S. economic strength since the pandemic, is crumbling under the weight of President Donald Trump’s erratic economic policies. Uncertain about where things are headed, companies are reluctant to hire, leaving agonized jobseekers unable to find work and worrying the consumers (70% of U.S. economic activity) whose spending has driven impressive growth for the world’s biggest economy since the COVID-19 disruptions of 2020. The Labor Department reported Friday that U.S. employers — companies, government agencies and nonprofits — added just 22,000 jobs last month, down from a 79,000 in July and well below the 80,000 that economists had expected. The unemployment rate ticked up to 4.3% last month, the highest since 2021.
Fox News thrives two years after court settlement, but 2020 election coverage fight goes on
NEW YORK (AP) — Fox News seemed to be dealt a crippling blow in a $787 million settlement of a libel lawsuit more than two years ago, but has instead thrived. Fox's ratings are at a high when most television networks are sliding, including news rivals CNN and MSNBC, and Fox is the go-to source to distribute news for the new Trump administration. Yet court cases regarding coverage of the 2020 election aftermath involving outlets where Trump supporters gather are continuing. In its own recent settlement of a libel case, the conservative Newsmax network has learned that expressing regrets or apologizing doesn't pay.
Trillion dollar man: New pay package could make Musk that much richer if Tesla thrives
Tesla is asking its investors to approve a proposed compensation package for CEO Elon Musk that could be worth almost $1 trillion and is based on the electric vehicle maker hitting certain ambitious milestones over the next decade. The company, which is also leaning heavily into robotics and AI, said in a regulatory filing on Friday that the package includes a dozen share tranches that will be given to Musk if it hits certain targets over the 10-year period. To achieve the initial amount in the compensation plan, Tesla would need to hit a market cap of $2 trillion, double its current valuation.
Stocks wobble as Wall Street wrangles with whether the job market is too weak
NEW YORK (AP) — U.S. stocks wobbled lower as Wall Street questioned whether the U.S. job market has slowed by just enough to get the Federal Reserve to cut interest rates to help the economy, or by so much that a downturn may be on the way. After rising to an early gain Friday, the S&P 500 erased it and fell 0.3% from the all-time high set the day before. The Dow Jones Industrial Average dropped 0.5%, and the Nasdaq composite was nearly flat. Still, more stocks rose than fell. The action was more decisive in the bond market, where yields tumbled following discouraging data on the job market.
Anthropic to pay authors $1.5 billion to settle lawsuit over pirated books used to train AI chatbots
NEW YORK (AP) — Artificial intelligence company Anthropic has agreed to pay $1.5 billion to settle a class-action lawsuit by book authors who say the company took pirated copies of their works to train its chatbot. The landmark settlement, if approved by a judge as soon as Monday, could mark a turning point in legal battles between AI companies and the writers, visual artists and other creative professionals who accuse them of copyright infringement. The company has agreed to pay authors or publishers about $3,000 for each of an estimated 500,000 books covered by the settlement.
Homeland security official says 475 people were detained during an immigration raid in Georgia
ELLABELL, Ga. (AP) — U.S. immigration officials say some 475 people were detained during an immigration raid at a sprawling Georgia site where South Korean auto company Hyundai manufactures electric vehicles. South Korean Foreign Ministry spokesperson Lee Jaewoong described the number of detained South Koreans as “large,” though he did not provide an exact figure. No charges were immediately announced. Officials from Homeland Security Investigations say the raid resulted from a monthslong investigation into allegations of illegal hiring at the site and was the largest single-site enforcement operation in the agency’s two-decade history.
Warner Bros. sues Midjourney for AI-generated images of Superman, Bugs Bunny and other characters
Warner Bros. is suing the AI company Midjourney for copyright infringement. The lawsuit claims Midjourney allows users to create AI-generated images and videos of copyrighted characters like Superman and Bugs Bunny. This is the third lawsuit against Midjourney by a major Hollywood studio, following Disney and Universal's joint lawsuit in June. The lawsuit alleges Midjourney trained its AI on illegal copies of Warner Bros. works and misleads users into thinking the generated content is authorized. Midjourney has not responded to the lawsuit. The company's CEO previously compared the service to a search engine, suggesting AI learning is similar to human creativity.
Google hit with $3.5 billion fine from European Union in ad-tech antitrust case
European Union regulators on Friday hit Google with a $3.5 billion fine for breaching the bloc’s competition rules by favoring its own digital advertising services. This marks the fourth antitrust penalty for the company from Brussels. The European Commission, the bloc’s executive branch, also ordered Google to end its self-preferencing practices and address conflicts of interest in the advertising technology supply chain. Google plans to appeal, calling the decision “wrong” and claiming it will harm European businesses. The decision angered U.S. President Donald Trump, whose administration has lashed out at the bloc over digital regulations and taxes imposed on U.S. tech companies.
McDonald's criticizes US restaurant industry for uneven wage policies
McDonald’s is criticizing the restaurant industry for allowing tipped wages, which let managers pay servers less than the minimum wage as long as customer tips make up the difference. McDonald’s Chairman and CEO Chris Kempczinski said in an interview on CNBC Tuesday that in many states, sit-down restaurants are allowed to pay servers as little as $2.13 per hour, with tips making up the rest of their pay. Kempczinski said it would be fairer for all restaurants to pay servers a minimum wage with tips on top. McDonald's has split from the National Restaurant Association over the issue, the association confirmed Friday.
Cork won a rare Trump tariff exemption thanks to lobbying on both sides of the Atlantic
RIO FRIO, Portugal (AP) — U.S. winemakers have something to celebrate: the corks they’re popping aren’t subject to tariffs. The framework trade agreement between the United States and the European Union singled out the material as an “unavailable natural product.” So as of Sept. 1, cork joined a handful of other items, including airplanes and generic pharmaceuticals, that are exempt from a 15% U.S. tariff on most EU products. The cork carve-out was vital for Portugal. The European country is the world’s largest cork producer, accounting for about half of global production. Cork comes from the spongy bark of the cork oak tree, which is primarily grown and harvested in the Mediterranean basin.
