Afternoon Coffee: Ford Supplier Fire Disrupts F-150 Production, Tech Execs Convene at White House for AI Meeting

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A “black swan” event caused by a fire May 2 at a Michigan parts factory has forced Ford to suspend all production of its F-150 pickup, the Detroit Free Press reports. The supplier, Meridian Magnesium Products, manufacturers truck radiator supports. The company is the only supplier in North America that can supply the magnesium-based product at the volume Ford requires, according to the report.

AI Meeting at WH 

Executives from major companies including Facebook, Amazon and Oracle are convening at the White House Thursday for a meeting to discuss the future of artificial intelligence (AI) in U.S. industry, Reuters reports. The daylong event will look at AI research and development, seeking to remove barriers to its application.

Glassdoor Acquisition

Job search company Glassdoor announced Wednesday it had been acquired by Recruit Holdings Co. for $1.2 billion, according to a press release. Recruit, a Japan-based HR company, plans to operate Glassdoor as a separate part of its HR technology business segment.

“Joining with Recruit allows Glassdoor to accelerate its innovation and growth to help job seekers find a job and company they love while also helping employers hire quality candidates," said Robert Hohman, Glassdoor CEO and co-founder.  "I look forward to leading Glassdoor through this exciting new chapter, and to exploring ways to use our combined resources and assets to benefit job seekers, employees and employers once the deal closes."

Producer Prices 

And finally, an economic update: U.S. producer prices rose a modest 0.1% in April compared with a month earlier, the Wall Street Journal reports. The increase indicates inflationary pressures within the economy are building but perhaps not as fast as some have predicted.

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