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.
Riot Games, the publisher behind esports giant “League of Legends,” agreed to pay $100 million to settle a class-action lawsuit alleging pay disparity, gender discrimination and sexual harassment.
Stocks closed mixed on Wall Street Tuesday, leaving the S&P 500 just shy of its latest record high set a day earlier.
U.S. health officials are cutting isolation restrictions for Americans who test positive for the coronavirus and shortening the time that close contacts have to quarantine.
New Year celebrations are approaching and across the world there is an urge to party. But the desire to let loose is being countered by the highly transmissible omicron variant.
Stocks made steady gains on Wall Street Monday, enough to mark another record high for the S&P 500 index.
For video games, 2021 was about growth and the arrival of new frontiers, like the metaverse and NFTs. But, the sector also struggled with lingering problems that cast a pall over the entire industry, from supply chain constraints to the persistent issue of workplace misconduct.
Small businesses are finding a lifeline for marketing and sales in getting eyeballs on their products and services via TikTok and Instagram. Senior reporter Michelle Castillo reports.
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.
The number of Americans applying for unemployment benefits was unchanged last week, remaining at a historically low level that reflects the job market’s strong recovery from the coronavirus recession last year.
Stocks closed higher on Wall Street Thursday, leaving major indexes with solid gains in this holiday-shortened week.
