Activist Investors Call on Apple to Address Youth Phone Addiction
Apple under fire after two Apple investors urged the company to step up and play a bigger role in managing smartphone overuse and addiction. David Benoit, Activism Reporter at The Wall Street Journal, was with us to discuss why Jana Partners has decided to push Apple to develop tools and research the effects of smartphone overuse by young people.
Benoit says the investors aren’t saying its necessarily Apple’s responsibility to monitor phone usage. Instead, he thinks they believe that Apple could play an important role in acknowledging that they aren’t sure what the impact of all this phone usage will be, but could score points by giving parents the option to monitor usage.
Activist investors typically focus on things like buybacks and acquisitions. Benoit says this move by Jana Partners to take a stance on corporate responsibility is very different. He thinks following Jana's advice could help protect Apple from potential backlash on teen iPhone usage. In addition, Benoit says goodwill could help drive future sales if consumers feel Apple made a phone that is safe for kids.
Twitter has dropped a major roadblock in front of Elon Musk’s effort to take over the company, leaving investors to wonder about the mercurial Tesla CEO’s next move.
A federal judge’s decision to strike down a national mask mandate was met with cheers on some airplanes but also concern about whether it’s really time to end the order sparked by the COVID-19 pandemic.
A recent report in Bloomberg revealed widespread discrimination against Black homeowners, making the wealth gap in our country even wider. The report found Wells Fargo rejected more than half of Black applicants seeking to refinance their homes in 2020 while approving over 70% of white applicants. Brad Lander, NYC comptroller, joins Cheddar News to discuss how the city is taking action in response to these reports.
As TikTok grows in popularity, so does its ad revenue potential. Research firm Insider Intelligence forecasts the app's revenue will likely triple in 2022 to more than $11 billion, putting it past the sales of both Twitter and Snapchat combined. Cheddar News takes a closer look.
Alison Whritenour, CEO of Seventh Generation, a Unilever brand of home care that focuses on sustainability and green initiatives, joined Cheddar News to talk about the push to put sustainability at the forefront of its product line. "One of the biggest things that we're driving right now is concentration, and so making sure that consumers — while they're re-adapting to their lifestyle post-pandemic and continuing to make choices that suit their home — know that there's a better for you less waste option available," she said about its more highly-concentrated cleaning solutions.
