Month: July 2023

Members of the Screen Actors Guild – American Federation of Television and Radio Artists (SAG-AFTRA) union are going on strike, after they were unable to reach a deal with producers and studios. Members of SAG-AFTRA will join up with more than 11,000 already striking Writers Guild of America (WGA), with the strike to start at midnight, July 14.

The failed negotiations with the Alliance of Motion Picture and Television Producers means film and television productions will immediately come to a halt, essentially shutting down Hollywood; the tandem strike of SAG-AFTRA and the Writers Guild of America marks the first of its kind in Hollywood since 1960.

The actors union had already granted one extension to its contract, which was originally set to expire July 1, and said it would not concede another. Hollywood performers were looking to improve wages, working conditions and health and pension benefits, as well as create guardrails for the use of artificial intelligence in future television and film productions. Additionally, the union is seeking more transparency from streaming services about viewership so that residual payments can be made equitable to that seen on linear TV.

Fran Drescher, president of the union, said during a press conference Thursday: “We are the victims here. We are being victimized by a very greedy entity. I am shocked by the way the people that we have been in business with are treating us. It is disgusting. Shame on them … You cannot change the business model as much as it has changed and not expect the contact to change, too.”

The WGA has been on strike since May, and is also seeking higher compensation and residuals, particularly when it comes to streaming shows. The WGA also shares similar concerns over the use of artificial intelligence when it comes to script writing.

SAG-AFTRA Contract Talks Fail To Reach Deal; National Board Meeting Thursday Morning To Launch Strike; Sides Issue Statements

Editorial credit: Elliott Cowand Jr / Shutterstock.com

On Wednesday, President Joe Biden said in a speech that the U.S. and NATO allies reaffirm commitment to Ukraine, promising that its Western partners would not back away from its defense as Russia’s war on Ukraine past its 500th day.

Following a two-day high-level meeting with leaders at the NATO summit, Biden described support for Kyiv’s fight for democracy as “the calling of our lifetime.” The U.S. has sent more than $41 billion to bolster Kyiv in the nearly 18 months since Russian troops invaded Ukrainian borders. Biden said in his address from Lithuania’s capital, Vilnius: “We did what we always do. The U.S. stepped up, NATO stepped up and our partners in the Indo-Pacific stepped up. We will not waver … the U.S. will continue to support Ukraine ‘for as long as it takes.’”

The allies welcomed the arrival of Ukrainian President Volodymyr Zelenskyy, who reiterated calls to join NATO and vowed its membership would make the world’s most powerful military alliance stronger. Ukraine has sought NATO membership since 2002. It is bordered by four NATO allies: Poland, Slovakia, Hungary and Romania.

An announcement on the first day of the summit revealed that Turkish President Recep Tayyip Erdogan has agreed to support Sweden’s bid to join the NATO alliance. Sweden and Finland began the formal process of applying to NATO last May, which requires approval from all 30 members of the alliance. In April, Finland joined the alliance. Following this summit, Sweden is set to become the group’s 32nd member.

Editorial credit: Gints Ivuskans / Shutterstock.com

After months of teasing plans to build a rival to ChatGPT, Elon Musk announced he is starting a new artificial intelligence company. The billionaire confirmed the formation of a new company, ‘xAI’, in a tweet on Wednesday; without elaborating, the Twitter CEO and Tesla found said his new xAI firm will seek to “understand reality.” According to a report from the Wall Street Journal, the company was incorporated in Nevada in the spring, with sources cited indicating Musk’s desire to compete with Microsoft’s OpenAI.

xAI unveiled a website and a team of a dozen staffers; the new company will be led by Musk, according to the website, and “will work closely with X (Twitter), Tesla, and other companies to make progress towards our mission … ‘The goal of xAI is to understand the true nature of the universe.’”  The xAI Twitter account had just one post as of press time.

Back in March, Musk and other big tech leaders, including Apple co-founder Steve Wozniak and politician Andrew Yang called for a temporary pause on artificial intelligence innovation because of “profound risks to society and humanity.”  They said “Advanced AI could represent a profound change in the history of life on Earth, and should be planned for and managed with commensurate care and resources.”

https://abcnews.go.com/Technology/wireStory/elon-musk-unveils-new-ai-startup-team-top-101186737

Editorial credit: Adrian Tusar / Shutterstock.com

The Consumer Financial Protection Bureau (CFPB) said on Tuesday that they are ordering Bank of America to pay over $100 million to customers for illegally charging ‘junk fees,’ as well as withholding credit card rewards and opening fake accounts. The CFPB specifically accused the bank of harming “hundreds of thousands of consumers over a period of several years” and “systematically double-dipping on fees imposed on customers with insufficient funds in their account.” Bank of America serves 68 million people and small business clients.

The CFPB also said that the bank was also ordered to pay an additional $90 million in penalties to the CFPB and $60 million in penalties to the Office of the Comptroller of the Currency. Rohit Chopra, director of the CFPB, said in a statement: “Bank of America wrongfully withheld credit card rewards, double-dipped on fees, and opened accounts without consent.”  Chopra added: “These practices are illegal and undermine customer trust. The CFPB will be putting an end to these practices across the banking system.”

The bank would charge customers a $35 overdraft fee after the bank declined a transaction because there were insufficient funds in the account. However, the CFPB accused the bank of “allowing fees to be repeatedly charged for the same transaction,” saying that Bank of America “generated substantial additional revenue by illegally charging multiple $35 fees.”

The CFPB also accused the bank of illegally withholding “promised credit card account bonuses, such as cash rewards or bonus points to tens of thousands of consumers” and accused the bank of denying “sign-up bonuses to consumers due to the failure of Bank of America’s business processes and systems.” Bank of America employees are also accused of illegally applying “for and enrolled consumers in credit card accounts without consumers’ knowledge or authorization,” using consumers credit reports without their permission to complete applications. The CFPB said that ‘as a result, consumers were charged unjustified fees, suffered negative effects to their credit profiles, and had to spend time correcting errors.”

Editorial credit: Nolichuckyjake / Shutterstock.com