OpenAI Hits Google with SearchGPT

OpenAI unveiled SearchGPT, a new AI search engine designed to provide real-time answers and organized information from across the internet.

Unlike traditional search engines that return plain lists of links, SearchGPT offers summarized results with clear attributions and links.

SearchGPT is in its prototype phase, available to 10,000 test users. It is powered by the GPT-4 family of models.

This launch challenges Google's dominance in the search market. SearchGPT will be free during its initial release, but OpenAI must figure out a monetization strategy soon.

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US Economy Shifts Gears Towards a Bright Outlook

The U.S. economy grew at a 2.8% annual rate last quarter, double the pace of the first quarter.

Consumer spending rose by 2.3%, driven by purchases of goods like cars and appliances. Business investment surged, especially in equipment, which saw an 11.6% increase.

Inflation showed signs of easing but stayed above the Federal Reserve's 2% target. The core PCE inflation rose by 2.9%, down from 3.7% in the first quarter.

Economists see a "soft landing" ahead, with the economy not too hot and not too cold.

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J&J's Talc Bankruptcy Strategy Stumbles Again

Johnson & Johnson failed again in federal court. The appeals court upheld a previous rejection of J&J’s plan to settle talc-related cancer claims through bankruptcy.

J&J used a strategy called the "Texas Two-Step." They created a subsidiary, LTL Management LLC, to handle all the claims.

J&J wanted LTL to file for bankruptcy, limiting their liability. However, this plan has now been dismissed twice by the courts.

The latest ruling confirms last year’s decision. The Chapter 11 case for LTL Management LLC remains closed. This leaves J&J facing thousands of lawsuits related to their talc products.

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North Korea Steals Global Military Secrets

North Korean hackers conducted a global cyber espionage campaign. They stole military secrets to support North Korea's nuclear program.

The hackers, called Anadriel or APT45, work for North Korea's Reconnaissance General Bureau. They used ransomware against US hospitals to fund their operations.

They have targeted defense firms making tanks, submarines, and fighter planes. They also hacked NASA and U.S. Air Force bases in Texas and Georgia.

The FBI is offering a $10 million reward for information leading to the arrest of Rim Jong Hyok, a key suspect. He is linked to North Korean hackers and is believed to be in North Korea.

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