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Fed watchdog finds no laws broken in $2.5 billion Fed renovations Trump has called “disgraceful”

Washington — The Federal Reserve’s inspector general announced Wednesday that the multibillion-dollar renovations of the Fed’s headquarters criticized by President Trump as “disgraceful” did not violate federal law, though the office concluded poor project management dramatically increased the cost.  “At no point during our evaluation did we find reasonable grounds to believe that a violation…

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$67 billion NextEra-Dominion merger could raise U.S. electricity prices, lawmakers say

Democratic lawmakers are warning that the proposed $67 billion merger between NextEra Energy and Dominion Energy could reduce competition and raise electricity prices for consumers. In a letter to the Federal Energy Regulatory Commission (FERC) on Wednesday, the legislators expressed concern that the enlarged company would have excessive market power, allowing it to pass costs on to…

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FTC investigating Anthropic, OpenAI and other companies over potential AI risks

The Federal Trade Commission confirmed Wednesday that it has launched an investigation into Anthropic, OpenAI and other artificial intelligence companies over the potential risk their technology poses to consumers. The probe, which the agency first opened this summer, comes amid growing concerns about the safety of AI and whether advanced “large language models” developed by…

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