Company X Files Lawsuit Against Media Matters
Company X (X), commonly known as Twitter, has initiated legal action against Media Matters, a non-profit organization. The lawsuit alleges defamation following the publication of a report claiming that ads for major brands appeared adjacent to content supporting Nazi ideology. The report triggered a swift response, with IBM, Compaction, and several other companies swiftly withdrawing their advertisements from X in reaction to the revelations.
Microsoft’s Stock Surges Amid Leadership News
Microsoft Corporation witnessed a historic surge in its stock price after the announcement of Sam Altman’s arrival. Altman’s appointment follows his departure as Chief Executive Officer from OpenAI. This news propelled Microsoft’s shares to a record high, closing at $377.44 with a 2.05% increase.
President Biden Optimistic About Hostage Release
US President Joe Biden expressed optimism about reaching an agreement for the release of hostages held by Hamas in Gaza. Biden shared his belief during a Thanksgiving turkey ceremony held at the White House.
TEPCO Completes Radioactively Contaminated Water Release
Tokyo Electric Power Co. (TEPCO), the operator of the Fukushima nuclear power plant, confirmed the completion of its third release of radioactively contaminated water. The company discharged 7,800 tonnes of treated contaminated water, mirroring previous releases. TEPCO announced plans for four such releases totaling 31,200 tons by the end of the fiscal year in March 2024.
Rescue Efforts Progress in Uttarakhand Tunnel
Indian authorities have made headway in rescuing 41 workers trapped in a collapsing tunnel in Uttarakhand state. Efforts include the insertion of a narrow pipe for delivering essentials and communication, alongside plans to deploy robots for removing rubble.
Economic Insights: US GDP Forecasts and OpenAI Tensions
The Federal Reserve Bank of Atlanta’s GDPNow forecast model projects a 2.0% expansion for the US economy in the fourth quarter of 2023. This follows growth rates of 2.2%, 2.1%, and 4.9% in the preceding quarters. Additionally, around 500 OpenAI employees have threatened resignation, demanding changes in leadership and the reinstatement of Sam Altman as CEO.
President Biden’s Plans and 81st Birthday
President Biden intends to hold a turkey redemption ceremony at the White House, sparing the lives of turkeys named Liberty and Belle. Celebrating his 81st birthday on November 20th, Biden, the oldest US leader in office, addressed concerns about his age, emphasizing his experience in tackling American issues.
Key Economic Releases
Today’s significant economic data releases include South Korea’s Producer Price Index for October, the Reserve Bank of Australia’s meeting minutes, US existing home sales data for October, and the Federal Reserve Monetary Policy Committee’s meeting minutes from October 31st to November 1st.