Author: Editor

For OpenAI, improving the programming capabilities of its AI is a self-reinforcing loop — as ChatGPT gets better at coding, its engineers get faster too.That’s according to Kevin Weil, the chief product officer of OpenAI, who was recently asked by podcaster Azeem Azhar why the company had focused so much on AI coding tools from a “commercial perspective.””It’s really important to us because if we can speed up coding, if we can make, you know, every engineer more effective, we also make ourselves more effective,” Weil said in the interview. “And so we can build even faster.”The AI company has…

Things are looking up for prospective homebuyers.This spring homebuying season, the housing market is flashing signs that haven’t been seen since before the pandemic housing boom, according to Redfin.Buyers outnumber sellers, inventory is sitting on the market for longer, and sellers are throwing in sweeteners to help close deals. These dynamics have increasingly combined to create what Redfin sees as a buyer’s market.Detailed below (and presented in bold) are four indicators that support this notion.For one, the share of US homes selling above asking price has hit a recent springtime low of 28%. During this time last year, that number…

They were the shots heard round Murray Hill.Recent announcements by JPMorgan and Apollo aimed at slowing down the early recruitment of junior bankers have sent young Wall Streeters into a frenzy.First, JPMorgan threatened termination for first-year analysts accepting future-dated private-equity jobs. Then, private-equity firm Apollo delayed recruiting young bankers. Not long after, Business Insider was first to report that PE giant General Atlantic told young bankers it’s also pumping the brakes.The entire episode is still unfolding, but it risks upending years of planning by people pursuing one of the most sought-after careers in finance. And the end result could be…

Millions of student-loan borrowers could see major changes to their repayment plans under the Senate’s new education spending proposal.On Tuesday, Sen. Bill Cassidy — chair of the Senate education committee — unveiled the education portion GOP lawmakers are seeking to include in President Donald Trump’s spending bill.After the House passed its version of the sweeping spending legislation in late May, the Senate is now moving forward with its own amendments to the legislation before aiming to get it passed this summer. Some elements of the legislation are the same as the ones that the House passed, like condensing existing income-driven…

Director of the Office of Management and Budget (OMB) Russell Vought attends a cabinet meeting at the White House in Washington, D.C., U.S., April 10, 2025. Nathan Howard | ReutersThe Federal Reserve’s inspector general is reviewing the Trump administration’s attempts to lay off nearly all Consumer Financial Protection Bureau employees and cancel the agency’s contracts, CNBC has learned.The inspector general’s office told Sen. Elizabeth Warren, D-Mass., and Sen. Andy Kim, D-N.J., that it was taking up their request to investigate the moves of the consumer agency’s new leadership, according to a June 6 letter seen by CNBC.”We had already initiated…

The Public Company Accounting Oversight Board today sanctioned Heaton & Co. and one of its partners, Kristofer Heaton, for failing to properly document five audits.The firm violated AS 1215, Audit Documentation, by failing to assemble the proper documentation for five issuer audits. Two of those audits resulted in the firm making significant modifications and additions to the workpapers just before a PCAOB inspection. Although the firms generally disclosed in the workpapers that they had created and modified them after the respective completion dates, those additions and modifications were not adequately documented. For the other three issuer audits, one contained numerous incomplete…

A container truck and shipping containers are shown at the Port of Los Angeles, in San Pedro California, U.S., May 13, 2025. Mike Blake | ReutersEven retail executives are bullish on the “TACO trade.” Following weeks of shifting trade policy, early deals and winding court challenges, some retail executives are starting to feel more optimistic about President Donald Trump’s so-called reciprocal tariffs, a new survey from consulting firm AlixPartners shows. The survey, which polled executives from brands, retailers and other consumer companies on June 1, found most respondents expect the president will walk back those steep duties on the European Union, Vietnam,…

Texas Sen. Ted Cruz pitched Republican senators Wednesday on ending the Federal Reserve’s authority to pay interest to banks, claiming it would save $1.1 trillion over a decade, with members of the party’s conservative flank lauding the idea.”I made the case directly to the president in the Oval Office last week, I made the case at lunch today,” Cruz said in an interview at the Capitol. If the idea is added to Trump’s massive tax and spending package, it could help to offset the cost and limit its impact on the deficit, Cruz said.Cruz noted payments of interest on reserves…

The sale of millions of acres of federal land would provide billions of dollars to help pay for President Donald Trump’s massive package of tax cuts and spending in the Senate’s version of the bill released Wednesday night. As much as around 3 million acres of land owned by the Bureau of Land Management and the U.S. Forest Service would be mandated for sale in the legislation. The measure, which requires each agency to sell a small percentage of the hundreds of millions of acres of land they manage in eligible states that include Alaska as well as western states, could…

The U.S. Supreme Court Chip Somodevilla/Getty Images hide caption toggle caption Chip Somodevilla/Getty Images The Supreme Court on Thursday, in a narrow ruling, made it easier for students with disabilities to sue to enforce their rights under the Americans with Disabilities Act and other laws enacted to ensure that disabled children get appropriate schooling. Chief Justice John Roberts wrote the unanimous opinion, with Justice Clarence Thomas, joined by Justice Brett Kavanaugh, and Justice Sonia Sotomayor, joined by Justice Ketanji Brown Jackson writing separate concurring opinions. At the center of Thursday’s opinion was Ava Tharpe, a teenage girl who suffers from…