Business briefs

US prices stay high, showing inflation pressures persist

WASHINGTON — Consumer prices in the United States rose again in April, and measures of underlying inflation stayed high, a sign that further declines in inflation are likely to be slow and bumpy. Prices increased 0.4% from March to April, up from a 0.1% rise from February to March. Compared with a year earlier, prices climbed 4.9%, down slightly from March’s year-over-year increase. The April data provided some evidence of cooling inflation, a sign that sent stock prices higher in morning trading. Grocery prices fell for a second straight month. And the cost of many services, including airline fares and hotel rooms, plunged.

Mass event will let hackers test limits

of AI technology

No sooner did ChatGPT get unleashed than hackers started “jailbreaking” the artificial intelligence chatbot – trying to override its safeguards so it could blurt out something unhinged or obscene. But now its maker, OpenAI, and other major AI providers such as Google and Microsoft, are coordinating with the Biden administration to let thousands of hackers take a shot at testing the limits of their technology. Some of the things they’ll be looking to find: How can chatbots be manipulated to cause harm? Will they share the private information we confide in them to other users? And why do they assume a doctor is a man and a nurse is a woman?

The US has approved $42 billion in loan forgiveness for public service workers

The U.S. has approved more than $42 billion in federal student loan debt forgiveness for more than 615,000 borrowers over the past 18 months. It’s part of a program aimed at getting more people to work in public service jobs. The Public Service Loan Forgiveness program is open to teachers, librarians, nurses, public interest lawyers, military members and other public workers. It cancels a borrower’s remaining student debt after 10 years of public interest work, or 120 monthly payments. Stringent rules meant that many applicants were rejected, but a recent waiver made it easier for people to apply and get their debt forgiven.

Disney posts higher second-quarter earnings, revenue thanks to park business

Ongoing strength at its theme parks and an improving streaming business propelled The Walt Disney Co. to higher profits and revenue in its fiscal second quarter. For the three months ended April 1, Disney earned $1.27 billion or 69 cents per share. That compares with $470 million, or 26 cents per share, a year ago. After adjusting for one-time items, Disney earned 93 cents per share, matching industry analysts’ expectations. The entertainment giant has been working on trimming about 7,000 jobs as part of a targeted $5.5 billion cost savings across the company.

— The Associated Press