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.
President Joe Biden has signed his hard-fought $1 trillion infrastructure deal into law before a bipartisan celebratory crowd on the White House lawn.
Major indexes ended a wobbly day mostly lower on Wall Street as the market comes off its first weekly loss in six weeks.
As inflation continues to heat up faster than expected, those on the side of seeing it as a transitory issue tied to the pandemic remain steadfast in their position. Cheddar's Alex Vuocolo takes a look at team transitory and its critics.
Babylist, an online baby registry for expecting and new parents, recently raised $40 million a Series C round, bringing the company's total funding to $50 million. Babylist also operates as an e-commerce and content platform. The company says it aims to be a one-stop solution for first-time parents who don't know what they need to buy for their new child. Babylist also says it wants to expand to address the needs of the entire family. Babylist founder and CEO Natalie Gordon joins Cheddar News' Closing Bell to discuss.
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 pandemic hit movie theater chains like the Alamo Drafthouse hard. Cheddar Senior Reporter Michelle Castillo talks to CEO Tim League about the reopening and a slow return to normalcy.
Cheddar has been covering the biggest news of the week with some of the biggest names in the biz.
Congress has created a new requirement for automakers: Find a high-tech way to keep drunken people from driving cars.
Johnson & Johnson is splitting into two companies, separating the division that sells Band-Aids and Listerine, from its medical device and prescription drug business.
Stocks closed higher on Wall Street on Friday, but still marked their first weekly loss in six weeks.
