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.
Stocks ended sharply lower on Wall Street Thursday, and the benchmark S&P 500 closed at a three-month low as corporate earnings and inflation continued to hold investors’ attention.
Starbucks is no longer requiring its U.S. workers to be vaccinated against COVID-19, reversing a policy it announced earlier this month.
Crews are making railroad repair in Los Angeles after a train derailed near the location where thieves have been raiding cargo containers, leaving the tracks littered with empted boxes of packaged goods sent by retailers.
Stocks continued to fall on Wall Street Wednesday as investors review the latest corporate earnings and prepare for higher interest rates.
A Rome villa containing the only known ceiling painted by Caravaggio is going back on a court-ordered auction block after no apparent winning bids were entered.
AT&T and Verizon say they will delay some new 5G wireless service after the airline industry raised alarms about potential interference with important systems on planes.
Stocks fell to a new low for the year on Wall Street Tuesday and bond yields surged amid renewed jitters the Federal Reserve will lift interest rates to tackle rising inflation.
Microsoft is paying nearly $70 billion for Activision Blizzard, the maker of Candy Crush and Call of Duty, as it seeks an edge in the fiercely competitive businesses of mobile gaming and virtual-reality technology.
GreenPower Motor Company CEO Fraser Atkinson joined Cheddar News to discuss Gov. Jim Justice's plan for West Virginia to reduce carbon emissions in 2022 by adding a school bus fleet of B.E.A.S.T.s — or battery-electric automated school transportation. Atkinson discussed why the state was perfect for manufacturing electric buses, and the economic impact its facilities will have on the region. He also noted a health impact the new vehicles could have, citing research that children from kindergarten to sixth grade are most at risk for cancers and respiratory illnesses due to exhaust pollution.
As food prices continue to rise, the cost of eating at home is starting to outweigh the cost of eating out. According to the Labor Department, grocery prices jumped a whopping 6.5 percent in December, while restaurant prices rose only 6 percent. Daniel Ammen, the senior director of project management and purchasing at restaurant management company Front Burner Brands, joined Cheddar to discuss how its own restaurant, The Melting Pot, is navigating the cost differential and how its restaurants overall are dealing with ongoing staffing shortages.
