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Spain fines Airbnb $75 million for unlicensed tourist rentals
Spain's government has fined Airbnb 64 million euros or $75 million for advertising unlicensed tourist rentals. The consumer rights ministry announced the fine on Monday. The ministry stated that many listings lacked proper license numbers or included incorrect information. The move is part of Spain's ongoing efforts to regulate short-term rental companies amid a housing affordability crisis especially in popular urban areas. The ministry ordered Airbnb in May to remove around 65,000 listings for similar violations. The government's consumer rights minister emphasized the impact on families struggling with housing. Airbnb said it plans to challenge the fine in court.
US tariffs are having an uneven effect on holiday prices and purchases
Many U.S. consumers say they’ve noticed higher than usual prices for holiday gifts in recent months, according to a a December poll from The Associated Press-NORC Center for Public Affairs Research. A contributing factor is the unusually high import taxes the Trump administration put on foreign goods. While the worst-case consumer impact that many economists foresaw from the administration’s trade policies hasn’t materialized, some popular gift items have been affected more than others. Most toys and electronics sold in the U.S. come from China. So do most holiday decorations. Jewelry prices have risen due to the cost of gold.
Roomba maker iRobot files for bankruptcy protection; will be taken private under restructuring
Roomba maker iRobot has filed for Chapter 11 bankruptcy protection, but says that it doesn’t expect any disruptions to devices as the more than 30-year-old company is taken private under a restructuring process. iRobot said that it is being acquired by Picea through a court-supervised process. Picea is the company's primary contract manufacturer. The Bedford, Massachusetts-based anticipates completing the prepackaged chapter 11 process by February.
Serbia organized crime prosecutors charge minister, others in connection with Kushner-linked project
Serbia’s prosecutor for organized crime has charged a government minister and three others with abuse of position and falsifying of documents related to a luxury real estate project linked to U.S. President Donald Trump’s son-in-law Jared Kushner. The charges came on Monday. The investigation centers on a controversy over a a bombed-out military complex in central Belgrade that was a protected cultural heritage zone but that is facing redevelopment as a luxury compound by a company linked to Kushner. The $500 million proposal to build a high-rise hotel, offices and shops at the site has met fierce opposition from experts at home and abroad. Selakovic and others allegedly illegally lifted the protection status for the site by falsifying documentation.
Militant groups are experimenting with AI, and the risks are expected to grow
The Islamic State group and other militant organizations are experimenting with artificial intelligence as a tool to boost recruitment and refine their operations. National security experts say that just as businesses, governments and individuals have embraced AI, extremist groups also will look to harness the power of AI. That means aiming to improve their cyberattacks, breaking into sensitive networks and creating deepfakes that spread confusion and fear. Leaders in Washington have responded with calls to investigate how militant groups are using AI and seek ways to encourage tech companies to share more about how their products are being potentially misused.
Trump signs executive order to block state AI regulations
President Donald Trump has signed an executive order to block states from regulating artificial intelligence. He argues that heavy regulations could stifle the industry, especially given competition from China. Trump says the U.S. needs a unified approach to AI regulation to avoid complications from state-by-state rules. The order directs the administration to draw up a list of problematic regulations for the Attorney General to challenge. States with laws could lose access to broadband funding, according to the text of the order. Some states have already passed AI laws focusing on transparency and limiting data collection.
Rare Dom Pérignon champagne from Charles and Diana’s wedding fails to sell during Denmark auction
A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
A sell-off for Oracle weighs on Wall Street even as the Dow jumps 600 points
A sell-off for Oracle is weighing on Wall Street as investors question whether its big spending on artificial-intelligence technology will pay off. The S&P 500 was mostly unchanged Thursday and hovering around its all-time high set in October. Drops for AI-related stocks dragged the Nasdaq composite down 0.6%. Oracle at one point was heading toward its worst loss since 2001 on worries about how much it plans to spend on AI infrastructure. But most stocks on Wall Street rose, and the Dow Jones Industrial Average jumped 600 points. Treasury yields slipped after a report showed more U.S. workers applied for unemployment benefits.
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