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Klarna's Losses Widen After More Consumers Fail To Repay Loans
Klarna's net loss more than doubled in the first quarter [non-paywalled link] as more consumers failed to repay loans from the Swedish "buy now, pay later" lender as concerns rose about the financial health of US consumers. Financial Times: The fintech, which offers interest-free consumer loans to allow customers to make retail purchases, on Monday reported a net loss of $99 million for the three months to March, up from $47 million a year earlier.
The company, which makes money by charging fees to merchants and to consumers who fail to repay on time, said its customer credit losses had risen to $136 million, a 17% year-on-year increase. The increased failure to repay comes on the back of gloomy economic sentiment in the US, where a closely watched measure of consumers' confidence last week fell to its second-lowest level on record. US President Donald Trump's trade war has driven expectations of higher inflation. Further reading: The Klarna Hype Machine.
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The Behavior of LLMs in Hiring Decisions: Systemic Biases in Candidate Selection
Finland announces migration of its rail network to international gauge
SAG-AFTRA Calls Out Fortnite Over Darth Vader AI Voice
SAG-AFTRA has filed a labor complaint against Fortnite developer Epic Games, alleging the game improperly used AI to replicate James Earl Jones' Darth Vader voice without bargaining with the union, despite the estate's approval. Gizmodo reports: The union has now filed an unfair labor practice charge (link to the PDF is on the SAG-AFTRA website) that calls out "Fortnite's signatory company, Llama Productions" for "[replacing] the work of human performers with AI technology" without "providing any notice of their intent to do this and without bargaining with us over appropriate terms."
The union notes that it's not against the general idea here: "We celebrate the right of our members and their estates to control the use of their digital replicas and welcome the use of new technologies to allow new generations to share in the enjoyment of those legacies and renowned roles." The problem is that the AI being used here makes human voice actors obsolete, and "we must protect our right to bargain terms and conditions around uses of voice that replace the work of our members, including those who previously did the work of matching Darth Vader's iconic rhythm and tone in video games."
So far there's been no response from Epic Games on the filing. The Hollywood Reporter notes that despite the SAG-AFTRA's still-ongoing Interactive Media Agreement strike, which has been stuck for months on negotiating "AI protections for voice actors in video games," actors can actually work on Fortnite without violating the strike, since the game falls under an exception for titles that were in production before August 2023.
Read more of this story at Slashdot.