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AM Business Notebook

>>Consumer Confidence Fell Again In October (New York, NY) -- Consumer confidence is down for the third straight month. The Conference Board's Consumer Confidence Index slipped nearly two points in October. The board's chief economist said many Americans are worried about rising prices, particularly for gas and groceries. The survey also noted consumers expressed concerns about the current political situation and the turmoil in the Middle East. More than two-thirds said a recession is somewhat or very likely in October.


>>Biden Signs Executive Order On AI

(Washington, DC) -- President Biden is issuing an executive order on artificial intelligence. While speaking from the White House, the president said the action is aimed at promoting the responsible development of the advancing technology. The order requires companies building the most advanced AI systems to perform safety tests and share results with the federal government before launching their products. Federal agencies will be required to use risk management practices when using AI that has the potential to impact people's rights or safety. The order also includes several actions to boost the development of AI in the U.S.


>>GM Reaches A Deal Tentative Deal With UAW

(Detroit, MI) -- It will be back to work soon for United Auto Workers members. This, after the union reached a tentative deal on Monday with GM that puts an end to the strike began more than six weeks ago. GM is the last of Detroit's big three automakers to reach a deal after the UAW reached an agreement with Stellantis over the weekend and with Ford earlier last week. The new deals include boosts in wages and benefits, reduces an eight year path to top wages to three years and allows the right to strike over any plant closures.


>>Department Of Education Withholds Payments To Student Loan Servicer

(Washington, DC) -- The Department of Education is withholding payments to a student loan servicer over billing statement errors. According to the Education Department, the Missouri Higher Education Loan Authority failed to meet its basic obligation of getting out statements in a reasonable timeframe. That ended in two-and-a-half million borrowers receiving late statements, in some cases just days before payment was due. More than 800-thousand were put into delinquency status as a result.


>>Gas Prices Down

(Undated) -- Gas prices nationwide are falling, with experts predicting they'll fall even more in the next couple of weeks. The Energy Department says the average price of gas nationwide was down six cents in the past week, going to three-49 a gallon. The cost of crude oil dropping is being attributed as the main cause.


>>FDA Warns Against Use Of Certain OTC Eye Drops

(Washington, DC) -- The FDA is warning consumers not to use over-the-counter eye drop products from several major brands. The agency said there could be risk of eye infections leading to vision loss or blindness. The brands include CVS Health. Rite Aid, Target Up&Up, Velocity Pharma, Leader and Rugby. The FDA said investigators found unsanitary conditions in the manufacturing facility and positive bacterial test results from environmental sampling for critical drug production areas in the facility.


>>WanaBana Recall Underway

(Atlanta, GA) -- The FDA is urging parents to take their children to the doctor for a blood test if they ate WanaBana apple cinnamon fruit puree pouches. This warning comes after four kids had elevated levels of lead and found that the children all ate the WanaBana apple cinnamon pouches. The agency tested multiple lots of the pouches and found "extremely high concentrations of lead." As a result of the findings, WanaBana issued a voluntary recall of the popular fruit puree pouches, which were sold across the country at various retailers, including Sam's Club, Amazon, and Dollar Tree.

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