Week In Review
Jessie Schuster
Edited by Elissa D. Hecker
Entertainment
Lawsuit Over Beatles’ ‘First Known’ Recording Heads to Trial After Judge’s Ruling
A Los Angeles judge ruled that Calderstone Productions has standing to pursue a lawsuit seeking the return of a rare recording from the estate of Abbey Road engineer Geoff Emerick. The dispute centers on whether the tape was abandoned by Abbey Road or remained company property.
Anthropic Sued for Using Elvis Presley Music to Train AI Models
The owners of rights to Elvis Presley’s music sued Anthropic, alleging that the company used 274 of Presley’s songs without permission to train its Claude AI models. The lawsuit seeks approximately $41 million in damages and adds to a growing wave of copyright litigation challenging AI companies’ use of protected music in model training.
Rick Ross Gets Felony Domestic Violence Charged Dropped, Now Facing Only Misdemeanor
Prosecutors dropped the felony battery-by-strangulation charge against rapper Rick Ross, citing insufficient evidence, following his arrest in connection with an alleged domestic violence incident. Ross still faces misdemeanor domestic violence battery charges and has pleaded not guilty.
Arts
Top Kennedy Center Official Urged Closure Due to Financial Problems, Not Poor Conditions, Lawyers Argue
Court filings in a lawsuit challenging the Trump administration’s efforts to reshape the Kennedy Center include messages suggesting that a senior official advocated closing the institution because of its financial problems, rather than its physical condition. Lawyers representing an Ohio congresswoman seeking to prevent the closure argue that the documents undermine the administration’s stated justification for its plans.
Sports
Second Circuit to Hear CFTC at Kalshi, Conn. Oral Arguments
The Second Circuit agreed to allow the Commodity Futures Trading Commission to present its views on prediction-market regulation during upcoming oral arguments in Kalshi’s dispute with Connecticut regulators. The case raises questions about the CFTC’s authority over event-based contracts and the extent to which states can regulate prediction markets as gambling.
Judge Orders Ethics Investigation Into DOJ Lawyers in Golf Course Dispute
A federal judge ordered an investigation into whether Justice Department lawyers misled the court while defending the Trump administration’s planned renovation of East Potomac Golf Links in Washington D.C. Judge Ana Reyes appointed a special master after questioning whether the government’s representations about the project conflicted with President Trump’s public statements and ordered the attorneys to preserve relevant documents.
The Big Ten Did Not Raise The Cap; It Built A New One
The Big Ten adopted a conference-level rule limiting member schools’ involvement in third-party Name, Image, and Likeness (NIL) agreements, establishing a combined institutional NIL framework of approximately $49 million per school. The rule is intended to mirror the economic structure of the proposed Protect College Sports Act and gives the conference a mechanism to regulate NIL payments while federal legislation remains pending.
Key Witness May Be Out in MLB Prop Betting Trial
A federal judge in Brooklyn heard that prosecutors may not call a key witness in the case against two Cleveland Guardians pitchers accused of participating in a pitch-fixing scheme tied to proposition bets. The witness is central to a dispute over the government's disclosure of potentially exculpatory evidence, while the judge also rejected prosecutors’ attempt to use an alleged tax debt against one of the players.
Media & Technology
AI-Fueled Hacking Spree ‘Black October’ Culminates with $6.3B Binance Hack
A global wave of cyberattacks dubbed “Black October” culminated in a $6.3 billion cryptocurrency theft from Binance, the largest crypto exchange hack on record. Investigators suspect that North Korean hackers exploited weaknesses in Binance’s transaction-signing systems, while cybersecurity experts warn that AI tools are making sophisticated attacks easier to carry out.
Meta, SpaceX, Anthropic Stoke the AI Funding Frenzy. What It Means For Our Stocks.
Major technology companies are accelerating their efforts to finance the massive infrastructure demands of AI, with Meta, SpaceX, and Anthropic contributing to a surge in funding activity. The growing need for computing capacity and capital is creating ripple effects across the public markets, particularly for companies supplying chips and other AI infrastructure.
Intel Stock Has Worst Day Since 1970s, Wiping About $12B Off Government’s Stake
Intel shares plunged nearly 29% on October 30, marking the company’s worst single-day decline since 1974 and reducing the value of the federal government’s roughly 10% stake by approximately $12 billion. The selloff followed a weaker-than-expected revenue forecast and concerns that rising AI infrastructure costs and softening PC demand could weigh on the chipmaker’s recovery.
Some Websites Shut Down Globally As Operators Address PHP Issue After AI Finds Critical Flaw
Hundreds of websites, including government sites, were taken offline as operators rushed to address critical vulnerabilities discovered in PHP, a programming language used by a substantial portion of the internet. The flaws were identified with the assistance of AI tools, and cybersecurity officials warned that publicly available fixes could also make it easier for hackers to exploit unpatched systems.
Nvidia Responds to Report That Its CEO Was Allegedly Targeted in Chinese Spy Plot
Nvidia responded to reports that a Singapore-based technology executive with ties to CEO Jensen Huang was allegedly involved in a Chinese intelligence operation targeting the company. The allegations stem from U.S. intelligence concerns that the executive may have gathered information about Nvidia’s business and its efforts to expand chip sales to China. Nvidia said Huang’s interactions with the executive were ordinary business dealings.
General News
Justice Dept Fails to Indict Former White House Aide Over Her Testimony About Trump and Jan. 6, Sources Say
A federal grand jury declined to indict former White House aide Cassidy Hutchinson after the Justice Department sought charges related to her testimony before the House committee investigating the January 6 attack. Hutchinson’s 2022 testimony described Trump’s conduct surrounding the Capitol riot, and the failed indictment marks another setback in the DOJ’s efforts to pursue charges against perceived political adversaries.
Chris Murphy is Hospitalized After Stroke
Connecticut Senator Chris Murphy was hospitalized after suffering a stroke while attending his son’s hockey game. His chief of staff said Murphy was transferred to Johns Hopkins for further monitoring, was awake and alert, and was responding well to treatment.
Betting Odds Look More Certain Than Polls, But Don’t Let That Confuse You
Prediction-market odds on platforms, such as Kalshi and Polymarket, can appear more decisive than traditional election polling, but the two measure different things. Betting prices reflect the views and financial incentives of market participants, while polls attempt to measure voter preferences, making the figures difficult to compare directly ahead of the midterm elections.
New York Archdiocese Agrees to $800M Clergy Abuse Settlement
The Archdiocese of New York and attorneys representing approximately 1,300 people who alleged sexual abuse by clergy have reached an $800 million settlement. The agreement, which still requires final signatures, would resolve a lengthy wave of litigation and represents one of the largest clergy abuse settlements involving a U.S. Catholic archdiocese.
U.S. Imposes Sanctions on Rwandan Defense Ministry Over Involvement in Eastern Congo Conflict
The U.S. Treasury Department imposed sanctions on Rwanda’s Ministry of Defense and a Rwandan financial institution over their alleged support for the M23 rebel group in the Democratic Republic of the Congo. The sanctions come amid renewed efforts by the Trump administration to enforce the Washington Accords and pressure Rwanda to withdraw its forces from eastern Congo.
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