Fortune
Gas station owners have found a use case for AI, lawsuit says: colluding to fix prices
Marathon, BP, and Circle K are facing a lawsuit alleging they used AI-powered pricing software to coordinate fuel prices across 1,700 gas stations throughout California. The suit claims the technology effectively enabled collusion without requiring direct communication between competitors. If the allegations hold up, the case could set a landmark precedent for how regulators treat algorithmic pricing tools across industries.
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Bloomberg
Apple Supplier Lingyi Set for HK Debut After $1.1b Offering
Lingyi iTech, a key Apple supplier and Chinese electronics manufacturer, raised HK$8.3 billion in its Hong Kong IPO ahead of its Friday trading debut. The listing marks another significant addition to what has become Hong Kong's most active month for new offerings in 2024. The deal underscores continued investor appetite for major tech supply chain names despite broader market uncertainty.
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