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.
For Meta, the sell-off marks another failed attempt by the social media giant to reinvent its core business model. What it means for other stablecoin projects, however, is still an open question.
Starbucks had a strong holiday season in the U.S., but those results were offset by higher labor and commodity costs and weaker sales in China.
Stocks closed higher on Wall Street Wednesday, putting major indexes on track to extend their weekly gains.
This Black History Month, Cheddar is highlighting prominent, contemporary Black Americans like Gerome Sapp, former NFL player and founder and CEO of sneaker marketplace Rares.
Tesla is recalling nearly 54,000 vehicles because their “Full Self-Driving” software lets them roll through stop signs without coming to a complete halt.
Stocks closed higher on Wall Street Tuesday, getting February off to a decent start after a miserable January.
Spotify said Sunday that it will add content advisories before podcasts discussing the coronavirus.
Stocks closed higher Monday, but still logged their worst monthly loss since the early days of the pandemic, as Wall Street closes a tumultuous January.
Cheddar's Chloe Aiello looks into the rise of plant-based eating and the spread of veganism among Americans for both personal health and the health of the climate.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
