For: July 23, 2022
>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning after a mixed day of trading on Wall Street as investors weighed the latest earnings reports. The S&P 500 edged higher to notch another record close. General Motors shares fell four percent after the automaker reported a one-billion-dollar hit from tariffs to its quarterly results. At the closing bell, the Dow Jones Industrial Average gained 179 points to 44-502. The S&P 500 rose 4 points to 63-09. The Nasdaq lost 81 points to 20-892.
>>Trump To Speak At AI Summit
(Washington, DC) -- One day after announcing a trade agreement with Japan, President Trump is set to deliver the keynote address at an AI summit in Washington, DC today. The summit is titled "Winning the AI Race," and reports say the President will be unveiling a sweeping federal AI strategy. The "AI Action Plan" will reportedly include executive actions to boost domestic energy supply and streamline permitting for data centers. Meanwhile, as for Japan, in a post on Truth Social Trump announced a 15-percent tariff on Japan's exports to the U.S. He added the country will also invest 550-billion-dollars into the U.S. in what he called "perhaps the largest deal ever made."
>>OpenAI CEO: AI Could Be Used As Doctor, Weapon, Customer Service
(Washington, DC) -- OpenAI CEO Sam Altman says artificial intelligence will eliminate entire job categories and become a destructive weapon used by nations around the world. Speaking at a conference in Washington, DC this week, Altman said AI will make the need for human customer support obsolete. He also said that while he likes to have a human doctor, his company's ChatGPT is better at diagnosis. He also expressed concern over a hostile nation possibly using AI to do something like attack financial systems and enable sophisticated fraud schemes.
>>Beef Prices Soar
(Undated) -- Beef prices are at a record high, passing six-dollars a pound for the first time since records started being kept in the 1980s. There are a few things to blame for the surge, including drought that's made cattle feed more expensive. That's led ranchers to send more cattle to the slaughterhouse to try and make up the difference, which in turn squeezes supply. The number of beef cattle in the U.S. is at its lowest since 1961, according to the Department of Agriculture. The USDA has also halted imports of cattle from Mexico over concerns about a parasitic fly. President Trump's 50-percent tariffs on Brazil set to start next month could drive up prices even more, as the South American country is a major supplier.
>>Hershey Announces Plans To Raise Chocolate Prices
(Hershey, PA) -- The price of Hershey chocolate is about to go up. The Hershey Company confirmed Tuesday that it plans to raise its prices due to the increasing cost of cocoa and other ingredients. Cocoa is harvested mostly in west Africa, where crops have been hit hard by climate change and disease, causing prices to skyrocket. The price change is expected to take effect in the near future.
>>L.A. Times Going Public
(Los Angeles, CA) -- The owner of the Los Angeles Times is announcing plans to take the newspaper public. Doctor Patrick Soon-Shiong made the announcement on Monday during an interview with Jon Stewart on "The Daily Show." Soon-Shiong says this will allow the public to buy into the newspaper. He also says the move will happen during the next year, adding that he's working with organizations to set it up. Earlier this year, more than 20 percent of the L.A. Times' newsroom staff was laid off.
