Washington Financial News

OpenAI and whether the artificial intelligence company violated consumer protection laws by scraping public data and publishing false information through its chatbot. The agency sent OpenAI a 20-page letter requesting detailed information on its AI technology, products, customers, privacy safeguards and data security arrangements.

By Trevor Hunnicutt

WASHINGTON (Reuters) — The U.S. House of Representatives passed its version of a sweeping bill setting policy for the Department of Defense on Friday, but the «must-pass» bill's chances of becoming law were uncertain after Republicans added a series of culturally conservative amendments.

IMF has said that the recently approved USD 3 billion loan programme will provide much-needed relief for Pakistan as it would anchor the cash-starved country's immediate efforts to stabilise its economy and ensure that the current balance of payments needs was fulfilled, a media report said on Friday. The Washington-based global lender signed a Stand-by Agreement with Pakistan at the end of June to provide the country with a short-term loan for a period of nine months.

Janet Yellen is traveling to India and Vietnam next week, seeking to strengthen ties with two increasingly important US partners and shore up economic resilience through diversified supply chains. Yellen will first head to Gandhinagar, India, for a meeting of Group of 20 finance and central bank heads, where she will push for reforming global lending institutions to boost the size and scope of their firepower and for advancing talks on easing the debt burden for poorer nations, a senior Treasury official said.

Upbit, South Korea’s biggest crypto exchange, has published a full, translated text of the EU’s MiCA crypto regulation laws, a suggestion that Europe’s new rules could be impacting other nations.

Bitcoin miner ClearSpark has begun the second phase of operations at its mining campus in Washington, in the U.S. state of Georgia, reaching 8.0 exahashes per second (EH/s), halfway to its year-end target of 16.EH/s. 

OpenAI, maker of AI chatbot ChatGPT and related products, has received a criminal investigative demand (CID) from the United States Federal Trade Commission (FTC), the Washington Post reported on July 13. The CID is reproduced on the newspaper’s website without a date. A CID is similar to a subpoena, and recipients are legally obliged to produce the information they request.

House Republicans who say the Federal Trade Commission has been overzealous and politicized under President Joe Biden are interrogating agency head Lina Khan

Wholesale prices in the United States decelerated again last month, the latest sign that inflationary pressures are easing in the face of the Federal Reserve’s streak of interest rate hikes

U.S. officials have approved the first over-the-counter birth control pill, a major change that will broaden access for women and teenagers

WASHINGTON (Reuters) — The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, indicating that the labor market remains tight even as job growth is slowing.

A small missing part forced pilots of a FedEx cargo plane to make an off-balance emergency landing

The politics of inflation took a sharp turn with a new report showing consumer prices rose at the slowest pace since the early months of Joe Biden’s presidency

China has reported its exports tumbled 12.4% in June from a year earlier as demand weakened after central banks raised interest rates to curb inflation

It is a matter of when, not if, a spot Bitcoin (BTC) exchange-traded fund (ETF) is created, argued Grayscale InvestmentsCEO Michael Sonnenshein.

Narendra Modi France Visit LIVE News: Indian Prime Minister Narendra Modi begins a two-day visit to France on Thursday where he will attend the traditional Bastille Day military parade as guest of honour and discuss major new defence deals, AFP reported.French President Emmanuel Macron's red-carpet welcome for the Hindu nationalist leader comes weeks after Modi was given the rare honour of a White House state dinner in Washington -- a city he was once banned from visiting.Despite differences over the war in Ukraine and tensions over human rights in India, New Delhi and Western democracies are keen on deepening ties because of mutual concerns about China."India is one of the pillars of our Indo-Pacific strategy," an aide to Macron told reporters this week on condition of anonymity.Macron has made Modi guest of honour for the July 14 military parade, which kicks off France's national day celebrations, with the participation of Indian troops and Indian-flown French-made fighter jets underlining close defence ties.India is one of the biggest buyers of French arms, with Modi announcing a landmark deal for 36 Rafale fighter jets during a trip to Paris in 2015 that was worth around 4.0 billion euros ($4.24 billion) at the time.He is set to unveil the purchase of another 26 marine versions of the state-of-the-art aircraft during this visit, as well as a deal for three Scorpene-class submarines, according to reports by the Tribune news website in France and the Hindustan Times newspaper in India.

China's ambassador to the United States held a rare meeting at the Pentagon on Wednesday with the top US defence official for Asia, the Pentagon said, in talks that followed US criticism of Chinese reluctance to engage in military communications. A brief Pentagon statement said Chinese Ambassador Xie Feng discussed defence relations and "a range of international and regional security issues" in talks with Ely Ratner, a US assistant secretary of defence.

By Diane Bartz and Frank Pingue

Washington Post report cited a statement from U.S. officials claiming Storm-0558 also breached unclassified email accounts linked to the U.S.

China has called accusations that a China-based hacking group breached government-linked email accounts “disinformation,” saying they were meant to divert attention from U.S. cyber activities