Olaplex CEO Leads Rebuttal of Claims Products Damage Hair
Olaplex Holdings Inc. is pushing back against claims in a consumer lawsuit alleging that the hair-care brand’s offerings cause hair loss and scalp injuries.
Bloomberg Business
Consumer Spending in Canada Is Holding Up Despite Higher Rates
Consumer spending in Canada is running strong in February despite the central bank’s aggressive increases to borrowing costs, data from Royal Bank of Canada show.
US Pushes Back on Speculation Russia Is Gaming Oil Cap With Fake Prices
A US Treasury official pushed back against speculation that Russia — confronted by a set of price caps and sanctions that seek to limit its oil revenue — could be quietly earning more than reported data suggest.
Ex-Goldman Banker Argues 1MDB Bribes Only $1 Billion, Not $2 Billion
Former Goldman Sachs Group Inc banker Roger Ng is disputing the amount in bribes that were paid during the 1MDB scandal ahead of his sentencing for conspiring to loot billions of dollars from the Malaysian sovereign wealth fund.
ChatGPT Maker OpenAI Says It’s Working to Reduce Bias, Bad Behavior
OpenAI, the artificial-intelligence research company behind the viral ChatGPT chatbot, said it is working to reduce biases in the system and will allow users to customize its behavior following a spate of reports about inappropriate interactions and errors in its results.
NYC Mayor May Relax 5-Day Office Policy for City Workers as Agency Vacancies Rise
Adams’s office is exploring ways to make city jobs more flexible, signaling a potential retreat from his strict return-to-office mandate.
ECB’s Lane Says Much of Tightening Effect Still in Pipeline
European Central Bank Chief Economist Philip Lane said much of the impact on inflation of the recent increases in borrowing costs is yet to be felt.
Older Americans Are Richer Than Thought, Census Bureau Says
Older Americans may have higher incomes than previously thought, according to new experimental data that’s being developed by the US Census Bureau.
Microvast’s $200 Million US Grant Under Review; Shares Plunge
The Biden administration is reviewing $200 million in funds it originally earmarked for lithium-ion battery maker Microvast Holdings Inc. amid criticism about the company’s ties to China and as part of a broader evaluation of similar awards made in the sector.
Fed’s Bullard Urges More Hikes to Ensure Disinflation Continues
Federal Reserve Bank of St. Louis President James Bullard urged additional interest-rate hikes to ensure inflation returns to the central bank’s 2% target over time.
