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.
Federal Reserve policymakers at a meeting last month said the U.S. job market was nearly at levels healthy enough that the central bank's low-interest rate policies were no longer needed.
Stocks closed lower on Wall Street Wednesday after minutes from the Federal Reserve’s last meeting raised expectations that the central bank will move faster to raise interest rates to fight inflation.
A record 4.5 million American workers quit their jobs in November, a sign of confidence and more evidence that the U.S. job market is bouncing back strongly from last year’s coronavirus recession.
Starbucks says its U.S. workers must be fully vaccinated by Feb. 9 or face a weekly COVID testing requirement
American activists are appealing to Tesla Inc. to close a new showroom in China’s northwestern region of Xinjiang, where officials are accused of abuses against mostly Muslim ethnic minorities.
Slumping technology stocks left the S&P 500 slightly lower on Wall Street Tuesday, even as the Dow Jones Industrial Average of 30 blue-chip companies marked another record high.
AT&T and Verizon said Monday they will delay activating new 5G wireless service for two weeks following a request by Transportation Secretary Pete Buttigieg, who cited the airline industry’s concern that the service could interfere with systems on planes.
In a case that exposed Silicon Valley’s culture of hubris and hype, Elizabeth Holmes was convicted Monday of duping investors into believing her startup Theranos had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood.
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.
Chris Rondeau, CEO of Planet Fitness, joined Cheddar's Chloe Aiello to talk about the gym franchise's sponsorship of the Times Square New Year's Eve festivities and a look ahead to 2022 for the fitness business.
