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.
Cheddar commemorates the weirdest things that happened to our collective memory originating from the likes of Silicon Valley and Wall Street.
Wall Street joined a worldwide slump for financial markets on Monday amid worries about how badly the omicron variant, inflation and other forces will hit the economy.
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.
Cheddar has been covering the biggest news of the week with some of the biggest names in the biz. In case you missed it, we've pulled together some of the highlights that will keep you informed as we get ready for the week ahead.
Stocks are closing lower on Wall Street, marking their third losing week in the last four. Banks, technology companies and industrials all helped pull major indexes lower Friday.
Kellogg's has reached a new tentative agreement with its 1,400 striking cereal plant workers that could bring an end to the strike that began Oct. 5.
U.S. health advisers are recommending that most Americans get the Pfizer or Moderna vaccines instead of the Johnson & Johnson shot.
Technology companies led stocks lower on Wall Street Thursday as investors weighed the implications of higher interest rates as the Federal Reserve prepares to begin raising rates next year to fight inflation.
Former McDonald’s CEO Steve Easterbrook has paid back more than $105 million in equity awards and cash to the burger giant after it learned that he had lied about the extent of his misconduct while he was its top executive.
The Federal Reserve has nixed the controversial word "transitory" to describe inflation in its latest policy statement. The change in language comes as the Fed plans to speed up its tapering of monthly asset purchases.
