>>Microsoft To Pay $20M For Collection Of Children's Data
(Redmond, WA) -- Microsoft will pay 20-million-dollars to settle charges that the company illegally collected personal data from children. The Federal Trade Commission announced the settlement Monday after accusing the tech company of taking info from kids who signed up for an Xbox gaming account without getting parental consent. Microsoft will have to put stronger protections in place as part of the settlement.
>>Saudi Government To Cut Oil Production, Sending U.S. Prices Up
(Riyadh) -- Saudi Arabia plans to cut oil production this summer, which will likely push gas prices higher in the U.S. OPEC's largest oil producer will cut production by one million barrels a day from ten to nine million. That's happening despite OPEC saying it wouldn't change production plans for the rest of 2023.
>>UPS Teamsters Considering Vote On Strike
(Sandy Springs, GA) -- Union members are on the verge of taking a vote to authorize a strike against UPS. The International Brotherhood of Teamsters and the shipping company are trying to come to a new agreement before their contract runs out at the end of July. The vote will be held this week.
>>Allstate Drops Property Insurance In CA
(San Diego, CA) -- Another insurance company is dropping property insurance in California. Allstate says it's too expensive to insure new home customers in California. The company blames wildfires, higher costs to repair homes, and higher reinsurance premiums. State Farm made a similar announcement last month. According to Cal Fire, seven-thousand-490 wildfires burned in California in 2022, damaging or destroying 876 structures. Last year, the California Insurance Commissioner submitted new regulations, requiring insurance companies to provide discounts to consumers and other protections, including larger payouts and less red tape. Insurers say the new rules make it more challenging to quickly adjust prices during high inflation.
>>Apple Unveils iPhone Update, New Products
(Cupertino, CA) -- Apple is unveiling its latest iPhone update and new products. The tech giant announced its iOS 17 iPhone software update at its Worldwide Developers Conference event Monday. New features like full-screen posters for contacts, live transcriptions of voicemails and video voicemails using FaceTime will be included in the update. Apple also introduced a new 15-inch MacBook Air that at just three-point-three pounds is the world's thinnest laptop. The new laptop will be available starting at about 13-hundred dollars.
>>Spotify Lays Off 200 From Podcasting Team
(New York, NY) -- Spotify is laying off 200 people on its podcasting team. The streaming service said in an internal update that it's part of a "pivot" to allow for it to support creators in a better way. Spotify previously cut about 6 percent of its staff in January, saying it was "too ambitious in investing ahead of our revenue growth."