Corporate America

The Financial Times reports that US companies are increasingly adopting cheaper 'open' AI models rather than relying solely on costly proprietary systems from major vendors. Businesses are drawn to open models for their lower cost and greater flexibility, a shift that could reshape how enterprises buy artificial intelligence and put pressure on providers of expensive closed systems.

Laboratory Corporation of America has reached a $2.3 million settlement over a data breach that affected 451,558 Maryland residents. The agreement resolves claims stemming from the cybersecurity incident, in which customer information was compromised. The settlement covers Marylanders whose personal data was exposed in the breach, and it is drawing attention across the state as affected residents learn about the compensation arrangement and what it means for them.

US companies are reportedly redirecting AI spending toward cheaper open-weight models instead of frontier systems from leading labs, putting pricing pressure on the biggest AI developers. The shift suggests enterprises see open alternatives as good enough for many workloads, threatening the premium pricing that frontier labs have relied on and intensifying competition across the AI industry.

A Federal Reserve survey of corporate finance chiefs finds that chief financial officers have raised their expectations for inflation and now cite interest rates as a key concern. The shift suggests businesses are bracing for price pressures to persist and for borrowing costs to remain a constraint on investment and hiring decisions.

Illinois Attorney General Kwame Raoul has announced a multistate settlement with Laboratory Corporation of America (Labcorp) over the 2019 data breach at American Medical Collection Agency, a billing vendor that exposed patients' personal and financial information. The settlement resolves claims that Labcorp failed to adequately oversee and protect data held by its collection agency partner.

Laboratory Corporation of America has reached a $2.3 million settlement over a data breach affecting more than 450,000 Maryland residents. The agreement follows a security incident in which sensitive personal information was compromised. Details on individual payouts and eligibility for compensation are expected to be outlined as the settlement moves through the approval process.

Laboratory Corporation of America has reached a settlement over a data breach that includes a $100,000 payment to North Carolina, according to a local report. The agreement is part of resolution efforts following the breach, though details on total settlement amounts and affected consumers were not provided in the report.

Laboratory Corporation of America, known as Labcorp, has reached a settlement with the state of Alaska over a data breach that affected 82,958 residents. The agreement was reported by the Juneau Empire. Details of the settlement terms, including any payments or commitments to improved data security, have not been widely detailed in initial coverage of the agreement.

Wisconsin has joined a $2.3 million settlement with Laboratory Corporation of America (Labcorp) related to a data breach. The settlement resolves claims connected to the exposure of customer information in a cyberattack. Residents affected by the breach may be eligible for compensation under the agreement. Details on payment amounts and eligibility deadlines have not been disclosed in the available coverage.

Hawaii has joined a multistate settlement with Laboratory Corporation of America (Labcorp) over a data breach that exposed consumers' personal information. Under the agreement, the company is expected to pay into a settlement fund and strengthen its data security practices. Details on Hawaii's share of the payout and the number of affected residents have not yet been released, and officials have not said when consumers can expect payments.

Laboratory Corporation of America has reached a multi-state settlement with state attorneys general over a 2019 data breach. The agreement reportedly resolves claims by multiple states connected to the incident, in which unauthorized parties accessed sensitive consumer information. Labcorp is one of the largest medical diagnostics companies in the United States, and the deal adds to a string of state-level enforcement actions against companies hit by large data breaches.