Livestreaming debate, Twitter spat

NEW YORK (AP) — Experts are calling for a broader discussion about livestreams after a white gunman killed 10 black people at a Buffalo supermarket. The self-proclaimed white supremacist mounted a GoPro camera on his helmet to broadcast his assault live on Twitch, the video game streaming platform. Twitch and other sites like Twitter and Facebook have learned painful lessons from dealing with the violent videos that now often accompany such shootings. Experts wonder if live streams should exist, because once these videos are online, it’s nearly impossible to completely erase them.

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Musk is at war with Twitter over his takeover deal – on Twitter

SAN FRANCISCO (AP) — Tesla CEO Elon Musk said his deal to buy Twitter couldn’t “move forward” unless the company publicly shows that less than 5% of accounts on the platform are fake or spam. Musk made the comment in a reply to another user on Twitter early Tuesday. He spent much of the previous day back and forth with Twitter CEO Parag Agrawal. Agrawal posted a series of tweets explaining her company’s efforts to combat bots and how she has consistently estimated that less than 5% of Twitter accounts are fake.

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Powell: Fed will keep raising rates until it gets inflation under control

WASHINGTON (AP) — Chairman Jerome Powell has underscored the Federal Reserve’s determination to keep raising interest rates until it gets inflation under control. It’s a high-stakes effort that risks provoking an eventual recession. Increases by the Fed to its benchmark short-term rate typically, in turn, lead to higher borrowing costs for consumers and businesses, including for mortgages, auto loans and credit cards. The economy generally slows down as a result. Powell told a Wall Street Journal conference that the Fed needs to see inflation coming down in a clear and convincing way.

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Retail sales rise 0.9% in April as consumers show resilience

WASHINGTON (AP) — U.S. retail sales rose 0.9% in April, a solid increase that underscores Americans’ ability to continue to increase spending even as inflation persists at a high of almost 40 years. The Commerce Department said Tuesday that the increase was due to increased sales of cars, electronics and in restaurants. Even taking into account inflation, which was 0.3% on a monthly basis in April, sales increased. Gas prices fell slightly last month, limiting inflation, after rising in March following Russia’s invasion of Ukraine. The report also showed that March sales were revised higher, with a gain of 1.4%, compared to 0.7%.

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Walmart’s first quarter profit dragged down as inflation takes a bite out

NEW YORK (AP) — Walmart reported stronger sales for the first quarter, but its profit took a hit as the nation’s largest retailer grappled with a spike in inflation on food and fuel and higher costs from a struggling global supply chain. The company also slashed its full-year earnings forecast on Tuesday, sending shares down more than 8% in morning trading. Walmart reported earnings of $2.05 billion, or adjusted earnings per share of $1.30. That’s still a far cry from the $1.48 per share earnings that Wall Street had forecast.

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Markets shake off the slump as traders start buying again

NEW YORK (AP) — Stocks rose steadily throughout the day and ended Tuesday with large gains as traders started buying again after a mostly miserable few weeks on Wall Street. Tech giants like Apple and Microsoft were among the biggest gainers, and video game maker Take-Two Interactive surged after forecasting better results than analysts expected. Paramount soared after Warren Buffett’s Berkshire Hathaway disclosed a new stake in the media company. The S&P 500 rose 2% and the tech-heavy Nasdaq added 2.8%. Shares of small companies rose more than the rest of the market, a signal that investors are feeling optimistic about the economy. Treasury yields rose.

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Nearly 43,000 people died on US roads last year, agency says

DETROIT (AP) — Nearly 43,000 people were killed on American roads last year. It’s the highest number in 16 years as Americans returned to the highways after the pandemic forced many to stay home. Traffic fatalities rose 10.5% from 2020, the largest percentage increase since the National Highway Traffic Safety Administration began collecting fatality data in 1975. The agency’s preliminary figures show that 42,915 people died in traffic accidents last year, compared to 38,824 in 2020. the figures will be published in the fall. Americans drove about 325 billion more miles last year than in 2020. That’s an 11.2% jump that contributed to the rise in fatalities.

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Argo touts driverless operations in Miami and Austin, Texas

NEW YORK (AP) — An autonomous vehicle technology company that has partnered with Ford and Volkswagen said it has launched driverless operations in two of the eight cities where it is developing its technology. Pittsburgh-based Argo AI has pulled drivers from its self-driving cars in Miami and Austin, though it’s still in the testing phase. Its business partnerships with Walmart and Lyft still have backup drivers in both cities. General Motors and its autonomous vehicle subsidiary Cruise operate in San Francisco, and Alphabet’s Waymo has also gone driverless in Arizona and California. San Diego company TuSimple completed an 80-mile route in Arizona late last year without human intervention.

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The S&P 500 jumped 80.84 points, or 2%, to 4,088.85. The Dow Jones Industrial Average rose 431.17 points, or 1.3%, to 32,654.59. The Nasdaq gained 321.73 points, or 2.8%, to 11,984.52. The Russell 2000 Small Business Index added 56.87 points, or 3.2%, to 1,840.30.

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