AI Summary
5 min readABC is suing the FCC over what it calls an illegal campaign to punish the network for speech the Trump administration dislikes, while long-term government bond yields hit levels not seen in nearly two decades. Meanwhile, scientists are scrambling to replace federal grant money that has been cut under the Trump administration, and OpenAI has rolled out a version of ChatGPT specifically for teenagers.
ABC Sues the FCC Over License Challenges
Disney’s ABC has filed a lawsuit against the Federal Communications Commission in federal court in Washington, D.C., arguing that the agency’s challenges to its broadcast licenses and its push to regulate the talk show The View are unconstitutional. The network says the FCC is trying to stop speech it does not like, marking the latest escalation in a conflict that began last year when FCC Chairman Brendan Carr launched a probe into Disney’s DEI initiatives. According to WSJ media reporter Joe Flint, ABC executives believed that probe was a response to criticism of President Trump on some of the network’s shows.
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What you'll learn
- 1 (00:18) **ABC Sues FCC Over Broadcast License Challenges** - The company's broadcaster ABC files a federal lawsuit against the FCC, alleging the agency's probes into its licenses and programming are illegal and politically motivated.
- 2 (03:06) **American Airlines Cabin Overhaul: New Screens and More Legroom** - The carrier announces plans to install seatback screens on over 800 planes and add more first-class rows and extra legroom to catch up with rivals Delta and United.
- 3 (03:28) **Worldwide Bond Selloff Accelerates** - Yields on long-term government bonds hit multi-decade highs in the U.S., Germany, France, and Japan, driven by a complex set of factors.
- 4 (05:38) **Stock Market Closes Lower** - The Nasdaq leads major indexes down by 1.3%, weighed down by a sell-off in chip stocks.
- 5 (06:21) **Scientists Seek New Funding Sources Amid Federal Grant Cuts** - The Trump administration's cuts to federal grants are forcing university researchers to diversify their funding, raising concerns about politicization and corporate influence.
- 6 (09:04) **OpenAI Launches ChatGPT for Teens** - The new version includes a "homework helper" study mode that helps with thesis ideas without writing essays, along with stronger safety settings for topics like self-harm and violence.
- 7 (09:35) **Bank of America CEO's "Secret Word" Game Confuses Analysts** - Brian Moynihan plays a game where he inserts obscure words into his prepared scripts, leading to miscommunications on earnings calls.
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Show Notes
P.M. Edition for Aug. 18. Government bonds are getting hammered in the U.S. and overseas. WSJ markets reporter Sam Goldfarb discusses how the AI boom is playing a part in driving yields of the 30-year Treasury and other long-term bonds to their highest levels in decades. Plus, Disney steps up a fight with the FCC over a challenge to ABC’s broadcast licenses. We hear from media reporter Joe Flint about why Disney sued the government agency, the latest front in the battle between the two that started last year. And there’s a secret word game that Bank of America CEO Brian Moynihan plays with Wall Street analysts. Is your vocabulary as good as his? Try our quiz. Alex Ossola hosts.
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