Rupert Murdoch is calling out Facebook, saying the social media site should pay publishers a carriage fee for the content on its site, just like cable companies do. Murdoch said Facebook and Google show news sources that are profitable but unreliable. Alex Heath, Senior Reporter with Cheddar, comments on whether we could see Facebook and Google develop a cable-like relationship with publishers.
Heath said Facebook and Google won't have a cable-like relationship with publishers because they are directly competing for the same ad dollars. The Senior Reporter called the duo "frenemies" and added that it's not appropriate to draw a parallel to the way cable companies operate.
We also hit on two other Facebook headlines. The social media company is reportedly buying Confirm, a software company that specializes in authenticating ID's. The acquisition is part of the social media giant's ongoing efforts to keep tabs on who it sells ads to.
In other Facebook news, some high level execs are coming and going. The Marketing Chief is stepping down, while a new A.I. Director is coming in. The social media company has been trying to break into the artificial intelligence space recently and even expanded its footprint overseas to grow the business. Heath said the hiring emphasizes Facebook's optimistic outlook on artificial intelligence, which is contrary to the doom-and-gloom outlook held by Tesla CEO Elon Musk.
ChatGPT-maker OpenAI and The Associated Press said Thursday that they've made a deal for the artificial intelligence company to license AP's archive of news stories.
The ongoing liquidation of parent company Bed Bath & Beyond has now officially affected buybuy BABY stores. A judge has approved the sale of the chain's intellectual property for $15.5 million.
Prices for airfare seem to be cooling off. The latest consumer price index showed prices dropped 8.1 percent in June from a month earlier, which is the biggest decline in a year.
While summer camp prices may be up this year, there may be options for financial aid. Cheddar's own Ashley Mastronardi has more.
Alexander Mashinsky, the former CEO of the failed cryptocurrency lending platform Celsius Network, has been arrested on federal fraud charges, including wire fraud, according to CNBC.
Delta Air Lines reported its highest earnings and revenue and raised its profit outlook.
Producer price index rose just 0.1% from a year ago, in the latest signal that inflation is slowing.
Wall Street is adding to its winning week Thursday following the latest signal that inflation is continuing to ease its chokehold on the economy.
Whenever the United Auto Workers union begins negotiating a new contract with Detroit's three automakers, threats of a strike are typically heard on the floor of the old Chrysler transmission plant in Kokomo, Indiana.
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