Category: 3. Business

  • Grammarly Is Facing a Class Action Lawsuit Over Its AI ‘Expert Review’ Feature

    Grammarly Is Facing a Class Action Lawsuit Over Its AI ‘Expert Review’ Feature

    Superhuman, the tech company behind the writing software Grammarly, is facing a class action lawsuit over an AI tool that presented editing suggestions as if they came from established authors and academics—none of whom consented to have their names appear within the product.

    Julia Angwin, an award-winning investigative journalist who founded The Markup, a nonprofit news organization that covers the impact of technology on society, is the only named plaintiff in the suit, which does not call for a specific amount in damages but argues that damages across the plaintiff class are in excess of $5 million. She was among the many individuals, alongside Stephen King and Neil deGrasse Tyson, offered up via Grammarly’s “Expert Review” tool as a kind of virtual editor for users.

    The federal suit, filed Wednesday afternoon in the Southern District of New York, states that Angwin, on behalf of herself and others similarly situated, “challenges Grammarly’s misappropriation of the names and identities of hundreds of journalists, authors, writers, and editors to earn profits for Grammarly and its owner, Superhuman.”

    The complaint comes as Superhuman has already decided to discontinue the feature amid significant public backlash. “After careful consideration, we have decided to disable Expert Review as we reimagine the feature to make it more useful for users, while giving experts real control over how they want to be represented—or not represented at all,” said Ailian Gan, Superhuman’s director for product management, in a statement to WIRED shortly before the claim was filed. “We built the agent to help users tap into the insights of thought leaders and experts and to give experts new ways to share their knowledge and reach new audiences. Based on the feedback we’ve received, we clearly missed the mark. We are sorry and will do things differently going forward.”

    As WIRED reported earlier this month, Superhuman last year added a suite of AI-powered widgets to the platform, including one that purported to have a veteran writer (living or dead) weigh in with a critique of the user’s text. While a disclaimer clarified that none of the people cited had endorsed or directly participated in the development of this tool, which leveraged an underlying large language model, various writers, including WIRED journalists, expressed frustration over Grammarly invoking their likenesses and apparently regurgitating their life’s work with these AI agents.

    Angwin’s attorney Peter Romer-Friedman says that longstanding laws in New York and California, where Superhuman is based, clearly prohibit the commercial use of a person’s name and likeness without their permission. “Legally, we think it’s a pretty straightforward case,” he tells WIRED. “More broadly, one of the reasons why we’re filing this case is, you know, we can see what’s happening in our society: that lots of professionals who spend years, or in Julia’s case, decades, honing a skill or a trade, then see that their name or their skills are being appropriated by others without their consent.”

    As a New York Times opinion writer, Angwin has written extensively about how Silicon Valley giants have eroded privacy in the 21st century.

    “Contrary to the apparent belief of some tech companies, it is unlawful to appropriate peoples’ names and identities for commercial purposes, whether those people are famous or not,” the lawsuit states. “Through this action, Ms. Angwin seeks to stop Grammarly and its owner, Superhuman, from trading on her name and those of hundreds of other journalists, authors, editors, and even lawyers, and to stop Grammarly from attributing words to them that they never uttered and advice that they never gave.”

    Angwin tells WIRED that when she learned of Grammarly’s use of her name and reputation from the tech newsletter Platformer, she was surprised to have been cloned, so to speak. “You know, deepfakes are something I always think celebrities are getting caught up in, not regular journalists,” she says. “I was just like, are you kidding me?”

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  • Investors demand steep concessions in Salesforce’s $25bn bond deal – Financial Times

    Investors demand steep concessions in Salesforce’s $25bn bond deal – Financial Times

    1. Investors demand steep concessions in Salesforce’s $25bn bond deal  Financial Times
    2. Salesforce Stock (CRM) Drops on Plans for Largest-Ever Bond Sale to Fund $50B Buyback  TipRanks
    3. Yann LeCun raises $1 billion for his Advanced Machine Intelligence Labs, breaking European records  Sherwood News
    4. Salesforce mulls up to $25B debt sale to fund buybacks: report  Seeking Alpha
    5. Salesforce Plans $25B Raise to Fuel Aggressive Buyback Program  FXLeaders

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  • Billionaire Zara founder Amancio Ortega to receive €3.23bn dividend | Retail industry

    Billionaire Zara founder Amancio Ortega to receive €3.23bn dividend | Retail industry

    The billionaire founder of Zara is to receive a company record €3.23bn (£2.8bn) dividend this year from the world’s biggest fashion retailer.

    Amancio Ortega, who still controls 59% of Spain’s Inditex and whose daughter Marta Ortega Pérez is now chair, will receive half his dividend in May and half in November – as will other shareholders.

    Inditex, which owns a raft of high street chains including Bershka, Massimo Dutti, Pull&Bear, Stradivarius and Oysho, said on Wednesday it would increase its dividend by 4% after a “robust operating performance” in 2025.

    The payout narrowly outstrips a €3.1bn dividend handed to Ortega last year. He has a net worth of about $126.7bn (£94bn), making him the 15th wealthiest person in the world, according to the Bloomberg billionaires index.

    Marta Ortega Pérez and her father, Amancio Ortega, pictured in 2012. Photograph: Silverhub/REX/Shutterstock

    Sales at Inditex, which has 5,460 stores across more than 90 countries and employs over 160,000 people, increased by 3.2% to €39.9bn in the year to 31 January 2026. Pre-tax profit rose by 5.8% to €8bn, according to results released on Wednesday.

    Although Inditex closed 103 stores worldwide last year it shifted units to larger outlets, meaning its total selling space increased.

    Ortega, who turns 90 this month, launched Zara from a small store in La Coruña, Galicia, northern Spain, in 1975. He is still regularly seen at the Inditex head office chatting with staff. He was a local clothing manufacturer who worked his way up from being a delivery boy at a shirtmakers to open his first shop.

    In previous years, Ortega has used his dividend payment to fund property purchases including London’s The Post Building, New York’s Haughwout Building and the Southeast Financial Center in Miami, according to Bloomberg.

    Ortega reportedly raced to spend last year’s dividend on property in the face of Spain’s wealth tax. It is the only country in the EU to have a fully fledged wealth tax, with residents exempt from the levy if they invest income within a 12-month window in assets considered to be “economic activity”.

    Inditex said on Wednesday it expected to open 5% more store space this year and continue to grow online. It said it had started the new year strongly with sales up by 9% between 1 February and 8 March, excluding the impact of exchange rates.

    Inditex told analysts it had not yet seen any interruption to the flow of stock from disruption in the Middle East, which usually acts as a hub for fashion flown from producer countries such as Bangladesh.

    The group plans to bring Lefties, its cut-price brand, to the UK this year and has also been looking for more sites for The Apartment, a concept that combines premium Zara clothing and homewares in a store laid out like an influencer’s home. Inditex is also opening new outlets in the US, Norway and Denmark, and its first store on the Caribbean island of Curaçao.

    Inditex has been investing in technology, launching an AI-based virtual-fitting system that allows online shoppers to create an avatar from their own photos and generate images of it wearing real products.

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  • Fitch Ratings Raises Its Near-Term Oil and Gas Price Assumptions – Fitch Ratings

    1. Fitch Ratings Raises Its Near-Term Oil and Gas Price Assumptions  Fitch Ratings
    2. UBS presents 3 oil and gas price scenarios amid Iran conflict  Investing.com
    3. HSBC raises 2026 oil forecast to $80 per barrel  marketscreener.com
    4. UBS Lifts TPs for PETROCHINA/ CNOOC, Raises 2026 Brent Oil Avg. Price Forecast to USD72  AASTOCKS.com
    5. Escalation in Middle East impacts oil price forecast – National Bank  Qazinform

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  • Shell declares force majeure on LNG contracts from Qatar | US-Israel war on Iran News

    Shell declares force majeure on LNG contracts from Qatar | US-Israel war on Iran News

    Qatar announced a production halt at a facility last week and declared force majeure on LNG shipments.

    Shell, the world’s largest liquefied natural gas (LNG) trader, has declared force majeure on LNG cargoes it buys from QatarEnergy and sells to its clients worldwide, the Reuters news agency reports, quoting three unnamed sources.

    Qatar, the world’s second largest exporter of LNG, announced last week a production halt at a facility that produces 77 million tonnes per annum (mtpa) and declared force majeure on LNG shipments.

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    Shell declined to comment on Wednesday.

    Other Qatari LNG buyers, including TotalEnergies and some Asian companies, have received force majeure notices from Qatar and told customers they would not be selling them Qatari LNG as long as the facilities remain closed, two other sources said.

    Omani trading house OQ has also declared force majeure to its customer in Bangladesh due to halted Qatari supply, Bloomberg News reported on Wednesday, saying such declarations are a sign that supply disruptions are extending beyond companies that have a direct contract with QatarEnergy.

    A person familiar with the matter told Reuters that TotalEnergies has not declared force majeure, a notice used to describe events outside a company’s control, such as a natural disaster, which usually releases it from contractual obligation without penalty.

    Both Shell and TotalEnergies have long-term partnerships with QatarEnergy and are partners in the company’s enormous North Field expansion project, which aims to boost production capacity by 2027.

    Analysts estimated Shell takes 6.8 mtpa of Qatari LNG while TotalEnergies takes 5.2 mtpa.

    Qatari Energy Minister Saad al-Kaabi told the Financial Times last week that it would take “weeks to months” to return to normal deliveries, even if the war ended today. QatarEnergy declared force majeure on LNG shipments on Wednesday.

    Sources told Reuters last week that the force majeure notices sent to clients stated that LNG deliveries for March will not be affected with the impact being felt as of April.

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  • How the Middle East conflict has hit daily flight hours – Cirium

    1. How the Middle East conflict has hit daily flight hours  Cirium
    2. Middle East Conflict Disrupts Commercial Aviation, Fuel Prices Surge, Airspace Closures Hit Gulf Carriers, and Aviation Demand Faces Uncertainty: New Update  Travel And Tour World
    3. ‘Biggest risk for aviation is geopolitics, long-term conflict could hit demand’: Boeing  The Economic Times
    4. Middle East Conflict A ‘Financial Hit’ To Battered Airline Industry, Says Boeing Chief  NDTV Profit
    5. What’s at stake for commercial aviation amid the Middle East conflict  Cirium

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  • Clinical Superiority of Belly-Tendon Montage Over Others for Recording Air-Conducted Ocular Vestibular Evoked Myogenic Potential

    Clinical Superiority of Belly-Tendon Montage Over Others for Recording Air-Conducted Ocular Vestibular Evoked Myogenic Potential

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  • Heating oil suppliers ‘blatantly profiteering’ from Middle East conflict | Business

    Heating oil suppliers ‘blatantly profiteering’ from Middle East conflict | Business

    Heating oil suppliers are “blatantly profiteering” from the conflict in the Middle East by doubling the price they charge households, an MP has told the competition watchdog.

    Harriet Cross, a Conservative MP for the Scottish seat of Gordon and Buchan, called on the Competition and Markets Authority (CMA) to investigate sudden price hikes.

    She has also written to the energy secretary, Ed Miliband, asking the government to support households struggling with unexpected increases in their energy bills.

    An estimated 1.7m households in the UK, mostly in rural areas that are not connected to the mains gas network, rely on heating oil to warm their homes, cook food and provide hot water.

    Consumers have seen prices for heating oil almost treble since the start of the war in Iran, at a time of great volatility in global oil markets, while some households have been told by their suppliers that they cannot guarantee the cost or timing of an oil delivery.

    The cost of heating oil is not covered by Ofgem’s energy price cap and it can vary between suppliers and in different parts of the country. Heating oil is typically a form of kerosene, meaning prices are linked to the cost of jet fuel, which is more reliant on Gulf suppliers than other petroleum products.

    Heating oil is the primary heating source for two-thirds of homes in Northern Ireland, about 10% of households in Wales and 5% of homes in Scotland.

    However, Cross said 45% of homes in Aberdeenshire, including in her constituency of Gordon and Buchan, are not connected to the mains gas network and are therefore reliant on heating oils or liquefied petroleum gas (LPG).

    Cross said she had been contacted by several constituents in rural areas who are facing sudden and unexpected price hikes, with the cost of 700 litres of heating oil doubling from £500 before the US and Israel launched attacks on Iran to more than £1,000, while delivery times have also been extended.

    The MP said many of those affected by the cost increases were “disproportionately rural, often elderly and vulnerable”.

    She is calling for a mandatory price transparency scheme to allow consumers to find the cheapest suppliers and has asked the consumer watchdog to look into what she believes to be “evidence of longstanding consumer harm”.

    Cross wrote to the CMA: “I have been contacted by constituents who have experienced behaviour from suppliers that can only be described as blatant profiteering.

    “Families have had existing delivery bookings cancelled, only to be called back the same day and offered delivery of the same oil, to the same address, on the same day, at twice the original price.”

    Dave Chapman, from Derry, told the Guardian the rise was concerning for elderly people, with much of Northern Ireland still cold at this time of year. He added: “For people with respiratory problems, like myself, it is essential to maintain a stable temperature,” he said. “Although we are far from the conflict zone, the affects of closed supply lines may continue to cause problems for many weeks or even months to come.”

    Rachel Reeves criticised heating oil companies on Wednesday, telling MPs on the Treasury committee that she was “looking at some of those market practices”, including suppliers telling customers they would only deliver large quantities to their tanks.

    The chancellor has previously raised the prospect of government help, saying she recognised households reliant on heating oil are facing “unique challenges”. She told MPs on Wednesday she would “make decisions on what further action is … needed” after a meeting later in the day between officials and MPs from Northern Ireland and rural areas.

    The CMA warned on Monday that it expected consumers who had ordered heating oil to receive it at the agreed price, adding it “won’t hesitate to take action” if it suspects consumer or competition law is being broken.

    Earlier in the week, Miliband wrote to the chief executive of the UK and Ireland Fuel Distributors Association (UKIFDA) to say the government was gathering evidence and looking into whether consumers were being treated fairly.

    Kerosene prices almost doubled between late February and 9 March, according to figures from the UKIFDA. It said the average price for jet kerosene this year was 44.2p a litre until 24 February, before it rose to 49.5p a litre on 27 February and 87.4p a litre on 9 March.

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  • Oil fears hit Asian stocks harder than profits – Financial Times

    1. Oil fears hit Asian stocks harder than profits  Financial Times
    2. Iran-Led Rout Tempts Dip Buyers’ Bets on Asia Chip Stock Rebound  Bloomberg.com
    3. Withstanding the Selling Wave: Retail Investors in Taiwan and South Korea Leverage Up Against the Tide, Vowing to Hold onto AI-related Stocks  富途牛牛
    4. What the Extraordinary Market Volatility in Asia Says About Energy and A.I.  The New York Times
    5. Asia open: Asia’s Oil shock margin call  FXStreet

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  • AAA® Showcases AI Governance Best Practices and Proprietary Insights at Legalweek 2026

    AAA® Showcases AI Governance Best Practices and Proprietary Insights at Legalweek 2026

    NEW YORK, March 11, 2026 /PRNewswire/ — As AI becomes embedded in enterprise decision-making, the American Arbitration Association® (AAA), the global leader in alternative dispute resolution (ADR), is focusing on educating the legal community on best practices around AI governance and how it must evolve in practice and execution to meet the moment.

    At Legalweek 2026, the AAA convened legal and technology leaders, including Galia Amram of Open AI, Anna R. Gressel of Freshfields, and Henry Hagen of Moderna, for a discussion on how governance builds trust and accountability into enterprise AI adoption. During the panel, “Trust Is the Product: How AI Governance and Legal Oversight Is Driving Successful Adoption,” the AAA shared preliminary findings from its national survey on AI governance and announced a new professional education series with Creative Lawyers and the Practising Law Institute (PLI), launching in the fourth quarter of 2026.

    “AI adoption is no longer theoretical. It’s shaping decisions across industries,” said Bridget McCormack, president and CEO of the AAA. “The question now is not whether organizations will use AI, but how they will govern it. Trust will belong to institutions that can demonstrate their systems are structured, supervised, and accountable. Governance is what turns experimentation into durable progress.”

    The forthcoming study, “AI Governance: From Principles to Practice,” is expected to survey 500 general counsels, C-suite leaders, and technology executives across U.S.-based companies to explore how legal and technical teams collaborate to implement AI governance, where operational gaps persist, and what structures are required to govern AI systems throughout their lifecycle. The full study, to be released in Spring 2026, is designed to serve as a national benchmark for enterprise-wide AI governance and implementation.

    Preliminary findings indicate that, while many organizations have AI governance frameworks in place, implementation often lags—particularly when translating principles into technical controls and aligning decision-making across teams.

    “AI governance is not a policy exercise; it is an operational discipline,” said Sasha Carbone, general counsel at the AAA. “Organizations are discovering that drafting principles is the easy part. The harder work is defining decision rights, documenting risk acceptance, and ensuring accountability across the system lifecycle. Governance must be built into how decisions are made, not layered on after the fact.”

    This research initiative reflects the AAA’s broader commitment to advancing responsible AI governance across industries, grounded in its own experience embedding structured oversight into AI-driven innovation.

    AI Governance Education for Legal Leaders

    To further support legal leaders navigating AI governance, the AAA, in partnership with Creative Lawyers and the Practising Law Institute (PLI), will launch a new AI governance program series later in 2026. The program will address foundational governance structures, organizational implementation strategies, risk and vendor oversight, and positioning governance as a strategic advantage.

    “Corporate counsel are navigating rapid AI adoption alongside an evolving regulatory landscape,” said PLI President Sharon L. Crane. “Through this collaboration with the AAA, we are providing practical, structured guidance that helps legal leaders move from awareness to implementation, equipping them with the tools to build and sustain effective AI governance programs.”

    To be among the first to receive the final study, including detailed findings and practical guidance for legal and business leaders, register at https://feature.adr.org/AAA-AI-Governance-Survey.

    About the American Arbitration Association
    The American Arbitration Association is the largest private provider of alternative dispute resolution (ADR) services in the world. Marking its centennial in 2026, the American Arbitration Association has transformed how legal issues are resolved for better since 1926, turning disputes worldwide into opportunities for understanding and progress. A not-for-profit organization, the American Arbitration Association’s mission is to deliver ADR services with integrity, transparency, and innovation. For more information, visit www.adr.org/.

    SOURCE American Arbitration Association

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