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Kitchenware brand Caraway has released a new coffee maker priced at $495, built entirely from scratch to eliminate plastic components from its design. The company, known for producing non-toxic, non-stick cookware, applied the same philosophy to this new appliance, aiming to keep plastic out of the brewing process.
Paramount Skydance reached a settlement with state attorneys general who had sued to block its $110 billion merger with Warner Bros. Discovery, avoiding a trial that was scheduled for next spring. As part of the deal, Paramount agreed to boost domestic production, follow certain theatrical release rules, and create a new board to oversee editorial independence at CBS News and CNN. CEO David Ellison told staff the company now expects to close the merger within about two weeks.
MS NOW, CNN and Politico are suing President Trump after he barred their journalists from White House grounds over the weekend, citing dissatisfaction with their coverage of his administration. The outlets argue the ban violates the First Amendment, and their lawsuit is being filed in the same court handling a similar case brought by The Associated Press.
Polymarket's aggressive push for growth reportedly outpaced its fraud controls, creating vulnerabilities that bad actors were able to exploit. The prediction market platform's scaling priorities appear to have left compliance and security measures lagging behind user growth.
Warren Buffett announced he is stepping down as chairman of Berkshire Hathaway after more than six decades at the helm, transitioning to the role of chairman emeritus while remaining on the board. His son Howard Buffett will take over as chairman, following Greg Abel's earlier appointment as CEO less than a year ago. Buffett, 96, cited his age in a shareholder letter while expressing confidence in Berkshire's future.
A group of U.S. senators has asked the Federal Trade Commission to investigate whether shopping bots and AI systems used by Walmart and Amazon are misrepresenting products as 'Made in America.' The request comes alongside other regulatory shifts, including a U.S. regulator giving tokenized stocks initial approval and credit card firms building AI agents to handle consumer purchases on shoppers' behalf.
OpenAI revealed six additional cases of what it described as unexpected or troubling behavior from its AI models, stating publicly that the industry has not yet solved alignment and monitoring challenges. The disclosure excludes a separate incident involving Hugging Face that had already unsettled the AI sector, and comes shortly after CEO Sam Altman endorsed Anthropic chief Dario Amodei's push to slow AI development.
Nvidia CEO Jensen Huang publicly dismissed Anthropic CEO Dario Amodei's proposal for antitrust exemptions that would let AI companies coordinate a slowdown in development, calling it unnecessary. OpenAI CFO Sarah Friar separately said she isn't concerned about pausing AI progress, arguing the intelligence already built is substantial enough to matter even if development stopped now.
President Trump used social media posts to reject growing concerns about AI expansion and data centers, dismissing them as a 'hoax' and 'scam' while crediting AI investment for America's tech lead. Separately, Microsoft released a draft code of conduct that would impose limits on future AI models, following calls from Anthropic and OpenAI for a slower pace of AI development. Meanwhile, Bank of America CEO Brian Moynihan warned that investment banking fees could drop more than 10% in the third quarter after a strong prior quarter.
Saudi Arabia closed its East-West pipeline, which can carry 7 million barrels of oil per day and bypasses the Strait of Hormuz, after saying it was damaged by drones launched from Iraq. The closure pushed both U.S. West Texas Intermediate and Brent crude futures up more than 3%, and prompted the postponement of a planned diplomatic meeting between Iran and Gulf Arab states on Hormuz security. The disruption comes as U.S. crude prices had already topped $100 a barrel last week amid escalating Middle East fighting.
The August consumer price index rose 0.4% month-over-month and 3.4% annually, matching analyst forecasts, while core CPI ticked up slightly more than expected at 0.3%. The reading follows Thursday's hotter-than-anticipated producer price index and a surge in crude oil to $6 a gallon, pushing traders to raise the odds of a quarter-point Fed rate hike next week above 70%. Stock futures rose Friday morning as investors weighed the data and looked to snap a four-session losing streak, with Oracle's earnings also drawing market attention.
A Morning Risk Report roundup describes efforts by Chinese AI firms to reproduce American AI models, alongside items on crypto scam victims battling the U.S. government to recover lost funds and ABC host Jimmy Kimmel criticizing the FCC. The compilation touches on cloning practices in AI, consumer financial recovery disputes, and regulatory friction in broadcasting.