Business
New York Times Sues AI Startup Over Unauthorized Use of Articles
The New York Times has sued Perplexity AI, an artificial intelligence startup, for allegedly copying and distributing millions of its articles without permission. The lawsuit claims that Perplexity AI's business model relies on scraping and copying content, including paywalled material, to power its generative AI products. The Times also alleges that Perplexity AI is violating its trademarks by creating fabricated content and attributing it to the newspaper. This lawsuit is the latest in a series of legal disputes between publishers and tech companies over the use of copyrighted content without authorization. Perplexity AI faces similar accusations from other publishers, including Dow Jones, the New York Post, and Forbes. The company has been accused of plagiarizing content and scraping websites without permission. Perplexity AI has raised $1.5 billion in funding over the past three years and has attracted big-name investors such as Nvidia and Jeff Bezos. However, the company is now facing multiple lawsuits, including one from Amazon, which alleges that Perplexity AI is covertly accessing user accounts and masking its AI browsing activities. Perplexity AI has denied these allegations, accusing Amazon of bullying and attempting to stifle competitors.
Personal Income Increases 0.4% in September 2025
Personal income increased by $94.5 billion, or 0.4%, in September 2025, according to estimates from the U.S. Bureau of Economic Analysis. Disposable personal income (DPI) rose by $75.9 billion, or 0.3%, while personal consumption expenditures (PCE) increased by $65.1 billion, or 0.3%. The increase in personal income was primarily driven by increases in compensation and personal income receipts on assets. The $65.1 billion increase in PCE reflected a $63.0 billion increase in spending on services and a $2.1 billion increase in spending on goods. The PCE price index increased by 0.3% from the preceding month, and by 2.8% from the same month one year ago. Excluding food and energy, the PCE price index increased by 0.2% from the preceding month and by 2.8% from one year ago. Personal saving was $1.09 trillion in September, with a personal saving rate of 4.7%. The data will be updated on December 23, 2025, with the initial estimate of Gross Domestic Product for the third quarter of 2025.
New York Times Sues Perplexity for Copyright Infringement Over AI Content Use
The New York Times has filed a lawsuit against AI search startup Perplexity for copyright infringement, claiming the company uses its content without permission or compensation. This is the Times' second lawsuit against an AI company, following a similar suit against OpenAI and its backer Microsoft. Perplexity's method of answering user queries by gathering information from websites and databases to generate responses via its retrieval-augmented generation (RAG) products is at the center of the dispute. The Times alleges that Perplexity repackages its original content in written responses to users, often verbatim or near-verbatim, without permission. The lawsuit is part of a broader strategy by publishers to use lawsuits as leverage in negotiations with AI companies to force them to formally license content and compensate creators. Perplexity has attempted to address compensation demands by launching a Publishers' Program and striking licensing deals with companies like Getty Images. However, the Times claims that Perplexity's actions damage its brand and harm its economic viability. The lawsuit seeks to make Perplexity pay for the harm allegedly caused and ban the startup from continuing to use the Times' content. This is not the first time the Times has taken action against an AI firm, having previously sent a cease and desist letter to Perplexity and suing OpenAI and Microsoft. The outcome of this lawsuit could set a precedent for the use of copyrighted content in AI training and generation.
Trump's Claim That Weaker Gas Mileage Rules Will Lower Car Prices Disputed by Experts
President Donald Trump has announced plans to weaken rules for fuel economy standards, claiming that the current rules are why new vehicles are too expensive. The new standards would drop the industry fleetwide average for light-duty vehicles to 34.5 mpg in the 2031 model year, down from the previous goal of 50.4 mpg. However, experts say that the relationship between fuel economy standards and vehicle prices is complex, and that other factors such as pandemic-era inventory shortages, supply chain challenges, and tariffs have also contributed to rising prices. According to a Consumer Reports analysis, there is no significant increase in inflation-adjusted vehicle prices caused by fuel economy requirements. In fact, the analysis found an average of $7,000 in lifetime fuel savings per vehicle for 2021 model year vehicles compared to 2003. Experts also dispute Trump's claim that his predecessor's policies were aimed at ending the gasoline-powered car. While the Biden administration did enact policies to increase electric vehicle adoption, there was no requirement that automakers sell EVs or consumers buy them. Additionally, Trump's statement that there was no way to charge electric cars is inaccurate, as the availability of public charging has significantly improved in recent years. The Trump administration's plan to roll back fuel economy standards has been criticized by environmental groups, who argue that it will lead to increased pollution and harm public health. Transportation Secretary Sean Duffy claimed that the reduced requirements will make drivers safer on the roads due to new technology, but experts say that this assumes vehicle prices will actually go down with eased requirements, which may not be the case. The Insurance Institute for Highway Safety also notes that electric or hybrid vehicles are as safe as or safer than gasoline-powered cars. Overall, experts say that the impact of weaker fuel economy standards on vehicle prices and safety is uncertain, and that the Trump administration's claims should be viewed with skepticism.
US Stocks Recover as Megacaps and Autonomous Tech Advance
US stocks initially started the day lower but rebounded as the day progressed. Among the megacaps, Walmart, JP Morgan, Google, and Tesla saw gains, while Microsoft experienced a decline. Uber announced the rollout of autonomous rides in Dallas through its partnership with Avride, expanding its self-driving pilot network. Marvell Technology's stock rose 20% in a week after securing repeat AI orders for its custom chip unit. However, Netflix and Paramount saw significant declines due to concerns over a potential multibillion-dollar bid for Warner Bros. Discovery. The S&P 500 ended 0.30% higher, and the Nasdaq was up 0.17%. In other news, TikTok's parent company, ByteDance, plans to invest $38 billion in a Latin American data center in Brazil. FirstRand reported that its first-half performance is tracking expectations, with improving credit demand and household finances. Glencore aims to increase its annual copper output to 1.6 million tons by 2035. The Rand slightly firmed up against the US dollar, trading at around R17.05.
EU Fines Elon Musk's X $140 Million for Violating Transparency Rules
The European Union has fined Elon Musk's social media platform X $140 million for breaching "transparency obligations" under the Digital Services Act (DSA). This fine marks the EU's first sanction against a company for violating the law since its enactment in 2022. According to the European Commission, X's use of its 'blue checkmark' verification system is deceptive, as anyone can pay for verification, making it difficult for users to determine the authenticity of accounts. This could expose users to scams and manipulation by malicious actors. The EU also criticized X's ads repository for failing to meet accessibility requirements, which are designed to help researchers detect scams and fake ads. Internet platforms in the EU are required to provide a database of all digital advertisements, including details on who paid for them and the intended audience. X has 60 days to respond to the EU's concerns and outline its plan to address these issues. The fine has been met with criticism from Federal Communications Commission Chairman Brendan Carr, who defended X and suggested that the EU is targeting a successful US tech company. The DSA requires platforms to remove illegal content and comply with various restrictions, with non-compliant companies facing significant fines.
EU Fines X $140 Million for 'Deceptive' Blue Checkmarks
The European Union has fined X, owned by Elon Musk, €120 million (approximately $140 million) for violating the bloc's digital service rules. This is the first fine issued under the landmark Digital Services Act (DSA), which aims to curb "illegal and harmful activities" on online platforms. The fine is due to X's "deceptive design" of its blue checkmark system, which allows anyone to pay for verification, making it harder to determine the authenticity of accounts. The EU launched an investigation into X in December 2023, which found that the company was failing to comply with obligations around advertising transparency, data access for researchers, and "dark patterns." The European Commission noted that while the DSA does not require user verification, it prohibits online platforms from falsely claiming that users have been verified. X has 60 working days to inform the EU of the measures it will take to change the "deceptive" use of blue checkmarks and 90 days for its planned fixes for the other violations. Failure to meet these deadlines could result in further penalties. The EU can charge companies up to 6 percent of their global revenue for DSA violations. The fine is seen as a warning to other companies, and European lawmakers have criticized X over rising levels of disinformation following its acquisition by Musk. The investigation into X's moderation practices and the dissemination of illegal or harmful content on the platform is still ongoing and could incur further penalties.
US Economy Shows Elevated Consumer Prices Ahead of Federal Reserve Meeting
The US economy has shown elevated consumer prices, according to the personal consumption expenditures (PCE) index, which rose 0.3% in September from a month ago and is up 2.8% from last year. The core PCE, excluding volatile food and energy prices, was up 0.2% on a monthly basis and 2.8% year over year. These figures are in line with economist estimates and indicate that inflation remains above the Federal Reserve's target of 2%. The Fed is expected to review these numbers ahead of its policy meeting next week. Prices for goods were up 1.4% in September from a year ago, with durable goods rising 0.9% and nondurable goods accelerating to 1.7%. The release of the September data was delayed due to the 43-day federal government shutdown, the longest in US history. Experts believe that the delayed PCE inflation report, combined with the rapid rise of AI, could influence the path of the US economy heading into 2026. The Federal Reserve's decision on interest rates will be closely watched, as it tries to balance inflation control with economic growth.
DocuSign Shares Fall Despite Solid Quarterly Results Due to Lowered Price Targets
DocuSign (DOCU) shares experienced an 8% decline in premarket trading on Friday. This drop occurred despite the company reporting solid third-quarter results and guidance. The decline was primarily attributed to several Wall Street firms cutting their price targets for the electronic signature company. DocuSign's third-quarter performance exceeded analyst expectations for both adjusted earnings per share and revenue. The company reported strong quarterly results, with a raised forecast for the fiscal year, anticipating revenue between $3.208 billion and $3.212 billion. However, the conservative outlook and lowered price targets overshadowed the positive quarterly performance, leading to the share price decrease. The reaction suggests that investor sentiment was more heavily influenced by the revised price targets than the company's actual performance. Overall, while DocuSign demonstrated solid financials, the market response was negative due to external factors rather than internal performance. The company's ability to meet and exceed expectations was not enough to counteract the impact of the lowered price targets.
Morgan Stanley Considers Offloading Data-Center Exposure
Morgan Stanley is considering offloading some of its data-center exposure through a significant risk transfer (SRT). The bank has held preliminary talks with potential investors about an SRT tied to a portfolio of loans to businesses involved in AI infrastructure. This move comes as Morgan Stanley has been actively involved in financing the artificial-intelligence race, arranging over $27 billion of debt and $2.5 billion of equity financing for a special-purpose vehicle tied to Meta Platforms Inc.'s Hyperion data-center site. The bank's strategists forecast that big cloud computing companies will spend around $3 trillion on data-center infrastructure projects through 2028, with cash flow only covering about half of that amount. The remainder is expected to be raised through debt markets, potentially leaving banks overexposed to a small group of companies. Morgan Stanley is exploring various ways to hedge or syndicate part of its data-center risk, and while there is no guarantee that the SRT talks will result in a deal, the bank is taking steps to manage its exposure. Global sales of SRTs are expected to expand by an average of 11% annually over the next two years, according to a Bloomberg Intelligence survey. Other US banks, including Citigroup, JPMorgan Chase, and Goldman Sachs, have also marketed SRT deals in 2025. As the demand for data-center infrastructure continues to grow, banks are looking for ways to manage their risk and free up balance-sheet capacity for more lending.
Salesforce Considers Renaming Itself 'Agentforce' Amid Shift to AI Agents
Salesforce CEO Marc Benioff has revealed that the company might rename itself 'Agentforce', reflecting its increasing focus on artificial intelligence (AI) agents. This potential rebranding comes as Salesforce has already begun renaming many of its products and services under the Agentforce name, such as "Agentforce Sales" and "Agentforce Service". Benioff stated that customers now prefer to discuss AI agents rather than cloud technology, based on recent focus groups. The shift away from cloud terminology is significant, given that Salesforce was founded on cloud technology and has long been associated with it. The consideration to rename the company follows similar moves by other major tech firms, such as Facebook's rebranding to Meta and Google's change to Alphabet. Benioff's announcement coincides with Salesforce's increased investment in AI agents, which has shown positive signs in the company's latest earnings report. Despite some internal doubts about the initiative, Salesforce has raised its revenue forecast, indicating a potentially successful transition towards AI-focused technologies. Benioff learned about the preference for AI agent terminology during focus groups ahead of the company's annual Dreamforce conference in October. As a result, he has dropped the use of the word "cloud" in his public discussions, including his keynote at Dreamforce. The company's data platform, previously known as Data Cloud, has been renamed "Data 360", further emphasizing the shift towards AI agents. With its 2026 strategic plan centered around AI, Salesforce's potential renaming to Agentforce would mark a significant step in the company's evolution.
Chicago Tribune Sues Perplexity Over Copyright Infringement Allegations
The Chicago Tribune has filed a lawsuit against AI search engine Perplexity, alleging copyright infringement. The lawsuit, filed in a federal court in New York, claims that Perplexity is using the Tribune's content without permission. According to the complaint, the Tribune's lawyers contacted Perplexity in October to ask if the AI search engine was using its content, and Perplexity's lawyers replied that it did not train models with the Tribune's work. However, the Tribune alleges that Perplexity is delivering its content verbatim, including through its retrieval augmented generation (RAG) system, which is designed to limit hallucinations by using accurate or verified data sources. The Tribune also alleges that Perplexity's Comet browser is bypassing its paywall to deliver detailed summaries of its articles. This is not the first lawsuit filed by the Tribune against an AI company, as it was one of 17 news publications that sued OpenAI and Microsoft over model training material in April. Perplexity is facing other similar lawsuits, including one from Reddit and another from Dow Jones. The company did not immediately respond to requests for comment. The lawsuit highlights the ongoing debate over the use of copyrighted material in AI model training and the potential legal liabilities of RAG systems.
Netflix in Exclusive Talks to Acquire Warner Bros. Discovery's Film and TV Studios and HBO Max
Netflix is currently in exclusive talks to acquire Warner Bros. Discovery's film and TV studios along with its HBO Max streaming service. According to sources from Bloomberg, Netflix has submitted a superior offer compared to its rivals, including Paramount and Comcast. The potential deal, which could be finalized within days, would significantly alter the landscape of Hollywood and the streaming market. Warner Bros. Discovery's cable channels, including CNN, TBS, and TNT, valued at over $60 billion, would not be included in the deal and would be spun off before the closing. If approved, Netflix would gain ownership of the HBO network, its library of series, and a vast film and TV archive consisting of 12,500 feature films and 2,400 TV series. This includes notable properties like Batman, Lord of the Rings, and Friends. To secure the deal, Netflix has offered a $5 billion breakup fee if the acquisition is not approved by regulators. The acquisition would be subject to scrutiny by the FCC and regulators from other nations due to the global reach of both companies. The bidding process for Warner Bros. Discovery began in October, with multiple suitors expressing interest. Netflix's offer of around $28 a share for WBD minus the cable assets has reportedly been the most attractive. The acquisition would be the largest in Netflix's history, which has traditionally focused on organic growth. It remains unclear how Netflix would integrate HBO Max into its services or whether it would honor Warner Bros.' commitment to theatrical releases.
EU Fines Elon Musk's X €120m Over 'Deceptive' Blue Ticks
The European Commission has fined Elon Musk's social media platform X €120m (£105m) for its use of blue verified check marks. The commission stated that by allowing users to pay for a blue tick, X "deceives users" as it does not "meaningfully verify" who is behind the account. This deception exposes users to scams, including impersonation frauds and other forms of manipulation. The fine was also imposed due to X's lack of transparency around its adverts and its failure to provide researchers with access to public data. US Vice President JD Vance criticized the EU's decision, claiming it was punishing X "for not engaging in censorship". However, the EU regulator's executive vice-president for tech sovereignty, Henna Virkkunen, said that X was "undermining users' rights and evading accountability" with its practices. The decision requires X to bring its measures into compliance with EU laws or face further fines. This is the Commission's first decision on a platform's non-compliance with its Digital Services Act (DSA), which sets out obligations for platforms around content, data, and advertising. The controversy surrounding X's blue tick system began when Elon Musk introduced a new system requiring users to pay a monthly subscription fee to obtain a verified checkmark. The system has been criticized for potentially opening users up to scams and increasing the profile of bad actors and misleading content. The EU's action is part of its efforts to regulate big tech companies and ensure they comply with its rules.
CME Group Provides Resources for Traders Amid Expected Interest Rate Cut
The Federal Reserve is expected to reduce interest rates for the third consecutive time next week, prompting traders to seek clues on the next move. CME Group, the world's leading derivatives marketplace, offers various resources to help traders refine their strategies. The company's FedWatch tool tracks 30-Day Fed Funds futures prices, providing insight into investor sentiment. Additionally, CME Group's Trading Simulator and monthly Trading Challenges allow traders to elevate their skills and compete against peers. The company also provides historical market data through its DATAMINE platform and offers capital-efficient solutions to uncleared margin rules. As traders prepare for the potential interest rate cut, CME Group's resources aim to support informed decision-making. With a range of educational materials and market data, traders can stay up-to-date on the latest developments and adjust their strategies accordingly. CME Group comprises four Designated Contract Markets (DCMs) and is committed to providing accurate and reliable information to its users. The company reminds traders that futures and swaps trading involve risks and should only be undertaken by eligible investors.
US Vice President Criticizes EU's Digital Rules Enforcement Amid Potential Fine for X
US Vice President JD Vance has criticized the EU's digital rules enforcement, stating that the EU should not be "attacking American companies over garbage." His comments come as the European Commission considers fining X, formerly Twitter, hundreds of millions of dollars for allegedly breaching its obligations around transparency and blue checkmarks. The Commission opened formal proceedings against X in December 2023, and a decision could be made as early as Friday. The potential fine is part of the EU's Digital Services Act, which allows for fines of up to 6 percent of a company's annual global turnover. X owner Elon Musk thanked Vance for his support, commenting "Much appreciated." The issue has sparked tension between the US and EU, with Washington pushing for the EU to roll back its digital rule book as part of trade negotiations. French President Emmanuel Macron has also expressed concerns about the slow pace of Brussels' probes into American tech giants. Commission digital chief Henna Virkkunen remains calm about a potential diplomatic showdown, stating that she is "protecting our laws" and aims to make Europe "faster and simpler and easier for businesses." When asked if she fears the US's reaction to a fine, Virkkunen simply replied "No." The situation highlights the ongoing debate between the US and EU over digital regulation and its impact on American tech companies operating in Europe.
Tesla Launches Cheaper Model 3 in Europe Amid Slumping Sales
Tesla has introduced a lower-priced version of its Model 3 car in Europe, aiming to boost sales that have declined significantly across the continent. The new Model 3 Standard is priced at €37,970 in Germany, 330,056 Norwegian kroner, and 449,990 Swedish kronor. This move follows the launch of a cheaper Model Y SUV in Europe and the US. The less expensive models retain driving ranges above 300 miles but drop some premium finishes and features. Tesla's sales slump in Europe is attributed to increasing competition from Chinese rival BYD, which outsold Tesla in the region for the first time in the spring. Additionally, a buyer backlash against CEO Elon Musk's support for Donald Trump's election campaign and his controversial political interventions have hurt sales. New taxes on electric cars in the UK budget, including a pay-per-mile road tax, may further undermine demand. The UK electric car sales growth slowed to 3.6% in November, prompting concerns that a sustained increase in demand for electric vehicles cannot be taken for granted. The industry is calling for incentives to encourage drivers to switch to electric vehicles rather than imposing additional taxes.
Ulta Beauty Beats Expectations with Strong Third Quarter Results
Ulta Beauty has reported strong third quarter results, beating Street expectations for the second quarter in a row. The company has lifted its full-year sales guidance to $12.3 billion, up from its previous range of $12 billion to $12.1 billion. Earnings are projected to come in between $25.20 and $25.50 a share, an upgrade from earlier estimates. The retailer attributes its momentum to a steady flow of new products, sharper in-store and digital experiences, and more assertive marketing. For the quarter, Ulta reported earnings of $5.14 a share, ahead of the $4.64 analysts expected, on revenue of $2.86 billion. Sales rose from $2.53 billion in the same period last year, with comparable sales up 6.3%. Both store and online traffic increased, while customers spent more per visit. The company's CEO, Kecia Steelman, said that despite softer consumer sentiment, engagement remained solid, with both mass and prestige products posting mid single-digit gains. Fragrance led the pack with double-digit growth, fueled by high-end labels such as Valentino and Dolce & Gabbana. Skincare was the second-strongest category, advancing at a high single-digit rate, helped by social-media-driven demand for Korean brands. The company has also expanded its fragrance space in a majority of U.S. stores ahead of holiday trading. Ulta Beauty has appointed a new CFO, Christopher DelOrefice, and has opened new stores, remodeled existing ones, and expanded its international presence through acquisitions and joint ventures.
Harvey Legal AI Startup Confirms $8 Billion Valuation After Latest Funding Round
Harvey, a legal AI startup, has confirmed an $8 billion valuation after closing a funding round led by Andreessen Horowitz. The startup raised $160 million in the round, which comes just months after it raised $300 million in a Series E round at a $5 billion valuation in June. Harvey's investors include EQT, WndrCo, Sequoia, Kleiner Perkins, and Elad Gil. The company serves 50 of the top AmLaw 100 firms and corporate legal teams, utilizing its AI technology for searching, summarizing, and drafting based on domain-specific training. Harvey's rapid growth and high valuation are attributed to its strong market position and the "kingmaking" effect of venture capital investments. The company was founded in 2022 and has experienced significant growth, with annual recurring revenue surpassing $100 million in August. Elad Gil, one of Harvey's long-time VCs, believes the company is a market leader due to its effective technology and market position. Harvey's success story began with a proof of concept about landlord-tenant law and a cold email to Sam Altman, leading to an investment from OpenAI Startup Fund. Since then, the company has become a VC darling, with its latest funding round solidifying its position in the legal AI market.
Netflix and Warner Bros. Discovery Confirm $82 Billion Mega Deal, Raising Industry Concerns
The Directors Guild of America (DGA) plans to meet with Netflix to discuss concerns regarding the streamer's potential acquisition of Warner Bros. Discovery (WBD). The meeting comes after Netflix won the bidding war for the legacy media company, with the two entering exclusive talks to secure a deal worth $82 billion. A DGA spokesperson stated that the development "raises significant concerns" for the guild, emphasizing the need for a "vibrant, competitive industry" that safeguards the careers and creative rights of directors and their teams. The Writers Guild of America East and West had previously expressed similar concerns, warning that further media consolidation would be detrimental to writers, consumers, and competition. Netflix offered around $28 per share for WBD, mostly in cash, outbidding Paramount. The deal is expected to be finalized by mid-to-late December. The DGA's meeting with Netflix aims to outline their concerns and understand the streamer's vision for the future of the company. This acquisition marks a significant shift in the industry, with potential implications for the careers of directors, writers, and other creatives.