Business and Tech News - 3.13.24

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Skool Projekt Staff
March 13, 2024

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U.S. Inflation Up Again

In February, the US inflation rate increased to 3.2% annually, up from January's 3.1%, driven by rising petrol and housing costs, according to the Labor Department. Although grocery prices remained stable, airfare, car insurance, and clothing costs contributed to the inflation spike. This comes as the Federal Reserve deliberates its strategy against inflation, with expectations of interest rate cuts shifting to June or later due to recent data. The economy's resilience faces challenges from persistent inflation, impacting consumer sentiment and potentially influencing the Federal Reserve's cautious approach to monetary policy adjustments.

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OpenAI Disputes Elon Musk's Claim Of Founding Agreement

OpenAI has countered Elon Musk's lawsuit, labeling his allegations as based on "convoluted" and "often incoherent" premises. This legal battle marks a new phase in the ongoing dispute between Musk and OpenAI CEO Sam Altman regarding the ethical use of AI technology. Musk's lawsuit accuses OpenAI of deviating from its original mission as a non-profit dedicated to AI development for humanity's benefit, alleging a betrayal of founding principles. In response, OpenAI denies the existence of any founding agreement with Musk, dismissing his demands for the company to redistribute its technology as based on a "fictitious contract."

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Apple To Allow App Downloads From Websites in Europe

Apple announces plans to enable developers to distribute iOS apps directly via websites in EU countries, a move set to launch with a forthcoming software update. This change, aiming to diversify app distribution channels, mandates developers adhere to stringent notarization and security criteria, including registration and review processes through App Store Connect. While this offers a new distribution avenue, installation requires user approval, and developers must meet rigorous requirements, including significant app installs and compliance with EU regulations, limiting accessibility primarily to larger developers.

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Babies R Us Is About To Be In Some Kohl's Stores

Kohl's has announced a partnership with WHP Global to introduce Babies R Us sections in about 200 of its stores, starting August. This collaboration, through a licensing deal, aims to enhance Kohl's baby product range, including gear, furniture, and more, alongside established brands like Graco, Carter’s, and Fisher-Price. Additionally, Kohl's plans to expand its online baby product offerings and launch a baby registry. The move, part of Kohl’s broader strategy to rejuvenate sales and attract younger customers, comes amidst leadership changes and efforts to diversify merchandise offerings, including a successful partnership with Sephora.

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Boeing's Problems Keep Growing

An FAA audit of Boeing's 737 Max jet production line revealed multiple non-compliance issues related to manufacturing process control, parts handling, storage, and product control. This comes after intense scrutiny following a mid-flight door plug blowout on a 737 MAX 9, prompting the FAA to heighten oversight. Of 89 product audits, Boeing failed 33, highlighting significant quality control problems. The FAA demands a corrective plan from Boeing to address these systemic issues, underlining the need for substantial improvements in their production processes.

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