Business briefs - Associated Press - June 22, 2024
Clearview AI settles privacy suit
CHICAGO (AP) — Facial recognition startup Clearview AI has reached a settlement in a lawsuit alleging its massive photographic collection of faces violated the subjects' privacy rights. Attorneys estimate the deal could be worth more than $50 million. Judge Sharon Johnson Coleman, of the Northern District of Illinois, gave preliminary approval to the agreement Friday. But the unique agreement gives plaintiffs in the case a share of the company's potential value, rather than a traditional payout. Clearview does not admit any fault as part of the agreement. An attorney for the company did not immediately reply to messages seeking comment.
Norfolk Southern: Railroads will examine vent and burn decisions
Days before the National Transportation Safety Board is set to explain why first responders were wrong to blow open five tank cars and burn the toxic chemical inside after the East Palestine derailment, Norfolk Southern said Friday it plans to lead an industrywide effort to improve the way those decisions are made. The railroad said it promised to lead this effort to learn from the aftermath of its disastrous derailment as part of its settlement with the federal government. The NTSB will hold a hearing on Tuesday to discuss what caused the Feb. 3, 2023 derailment and how to prevent similar derailments in the future.
US home sales fall for the 3rd straight month
LOS ANGELES (AP) — Sales of previously occupied U.S. homes fell in May for the third straight month as rising mortgage rates and record-high prices discouraged many prospective homebuyers during what's traditionally the housing market's busiest period of the year. Existing home sales fell 0.7% last month from April to a seasonally adjusted annual rate of 4.11 million, the National Association of Realtors said Friday. Sales also fell 2.8% compared with May last year. The median U.S. home price climbed compared with a year earlier for the 11th month in a row to record $419,300.
Car dealerships disrupted by a multi-day outage
NEW YORK (AP) — Car dealerships across North America have faced a major disruption this week. CDK Global, a company that provides software for thousands of auto dealers in the U.S. and Canada, was hit by back-to-back cyberattacks on Wednesday. That led to an outage that was continuing to impact many operations by Friday. For prospective car buyers, that may mean facing delays at affected dealerships — or seeing their orders written up by hand — with no immediate end in sight.