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.
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 closed mostly lower on Wall Street Friday, though gains for several tech companies pushed the Nasdaq composite to another record high and its first close over 16,000 points.
The number of Americans applying for unemployment benefits fell for the seventh straight week to a pandemic low of 268,000.
Stocks closed mixed on Wall Street Thursday as investors reviewed the latest earnings reports from retailers and an update on the employment market.
Ethereum has long played second fiddle to the headline-grabbing Bitcoin, but the world's second most valuable cryptocurrency has plenty of defenders who say it's destined for the throne.
Stock indexes shuffled lower on Wall Street Wednesday, pulling a bit further off their record heights.
Staples Center is getting a new name. Starting Christmas Day, it will be Crypto.com Arena.
Buoyed by solid hiring, healthy job gains, and substantial savings stemming in part from government stimulus checks and other relief, Americans ramped up their spending at retail stores and online shops last month.
Stocks closed higher on Wall Street Tuesday as investors reviewed solid earnings reports from retailers and an encouraging update on consumer spending.
