Microsoft partners with labor unions

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Market Overview
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Year To Date Performances:

1. Microsoft announced a partnership with the American Federation of Labor and Congress of Industrial Organizations to address concerns about AI's impact on jobs. This collaboration will involve AI learning sessions, workshops on AI career opportunities, and labor summits for feedback. Goals include educating labor leaders and workers on AI trends, integrating worker perspectives in AI development, and shaping policies to support frontline workers' tech skills and needs. This initiative reflects increasing attention to how AI and automation could affect the workforce and workplace standards.

2. The Department of Justice announced the ninth payout from the fund for Bernie Madoff's Ponzi scheme victims, totalling about $159 million to nearly 25,000 people globally. This distribution, occurring 15 years post-Madoff's arrest and over two years since his death, brings the total paid out to over $4.2 billion to more than 40,800 victims. The fund has now recovered over 90% of victim losses from Madoff's nearly $65 billion fraud, affecting many individuals and institutions.

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4. Headlines

   1. Arkhouse Management and Brigade Capital Management are considering a $5.8 billion acquisition of Macy’s.

   2. Occidental Petroleum is purchasing CrownRock for $12B.

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