- Associated Press Finance
Senators want limits on the government's use of facial recognition technology for airport screening
A bipartisan group of senators is pushing for restrictions on the use of facial recognition technology by the Transportation Security Administration, saying they are concerned about travelers' privacy and civil liberties. In a letter Thursday, the group of 14 lawmakers called on Senate leaders to use the upcoming reauthorization of the Federal Aviation Administration as a vehicle to limit TSA's use of the technology so Congress can put in place some oversight. "This technology poses significant threats to our privacy and civil liberties, and Congress should prohibit TSA’s development and deployment of facial recognition tools until rigorous congressional oversight occurs," the senators wrote.
- Reuters
US STOCKS-Wall St set to open higher as Fed allays rate-hike concerns
U.S. stocks were poised for a higher open on Thursday, a day after the Federal Reserve left interest rates unchanged and allayed worries around potential rate hikes, with focus moving to a spate of earnings reports through the day. While Fed Chair Jerome Powell indicated that stubbornly high inflation would see a long-expected U.S. rate cut pushed back, he refused to entertain talk that rates might actually need to go up again. On Wednesday, U.S. stocks initially rose, but the S&P 500 and the Nasdaq closed lower for the day after the Fed decision.
- Associated Press Finance
Peloton cutting about 400 jobs worldwide; CEO McCarthy stepping down
Peloton is cutting about 400 jobs worldwide as part of a restructuring effort and its CEO Barry McCarthy is stepping down after two years as the company continues to work on turning around its business. Peloton has been working on a significant rebranding since last year, shifting its identity as a seller of luxury exercise bikes and equipment to heath technology for all.
