These are the headlines you Need 2 Know.
* **Hurricane Lane Hits Hawaii:**
As much as 20 inches of rain have fallen on parts of Hawaii so far, causing flooding and mudslides on the Big Island and Maui. Forecasters said Friday the Category 3 storm is moving slowly and could drench Hawaii for several days. The National Weather Service reported Friday that only two storms of this strength have ever come within 350 miles of the islands. For photos from the storm [click here] (http://www.foxnews.com/us/2018/08/24/hurricane-lane-category-3-storm-lashes-hawaii-as-it-makes-slow-move-off-coast.html).
* **Verizon Issues Mea Culpa:**
Verizon apologized for throttling or slowing down data service for firefighters who were battling the Mendocino Complex fire in California. Officials said the data connection was slowed to about 1/200th of its previous speed — just as firemen were coordinating a response to the biggest blaze in California's history. Verizon said the fire department used its allotment of data for the month, but the company admitted it should have waived restrictions for an emergency. For the latest, [click here](https://arstechnica.com/tech-policy/2018/08/fire-dept-rejects-verizons-customer-support-mistake-excuse-for-throttling/?amp=1).
* **National Enquirer May Have Dirt on Trump:**
The tabloid allegedly has a safe where it stores documents related to hush-money payments and “other damaging stories” about President Trump. The Associated Press reported the information was never printed because of the paper’s “cozy” relationship with Trump. Meanwhile, federal prosecutors reportedly have granted immunity to David Pecker, the CEO of the National Enquirer’s parent company. [Read the details here] (https://www.apnews.com/143be3c52d4746af8546ca6772754407/AP:-National-Enquirer's-safe-held-damaging-Trump-stories).
* **Children's Medicine Recalled:**
King Bio is recalling 32 children's medicines because of microbial contamination in liquids produced between August 1, 2017, and April this year. The company said ingesting the medicines could result in life-threatening infections. Find the recalled products [here] (https://www.usatoday.com/story/money/nation-now/2018/08/23/king-bio-recall-childrens-medicines-microbial-contamination/1071691002/).
Cheddar's Jill Wagner gets into the latest.
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Wealthfront’s CFO Alan Iberman talks the $2.05B IPO and the major moment for robo banking as the company bets on AI, automation, and “self-driving money."
A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
