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.
Stocks wound up a mixed bag on Wall Street Thursday, but big gains in several technology giants helped push the S&P 500 and the Nasdaq indexes to more record highs.
The Federal Reserve made official on Wednesday its plan to wind down the aggressive monthly bond-buying program that has defined the central bank's pandemic response.
The $6.2 billion wholesale harvest value of cannabis surpassed that of staples like cotton, rice, and peanuts, according to a new report from Leafly.
Stocks climbed to more record highs Wednesday after the Federal Reserve said it will begin dialing back the extraordinary aid for the economy it has been providing since the early days of the pandemic.
Fed watchers are expecting Jerome Powell to announce a timeline for tapering bond purchases on Wednesday afternoon following the meeting of the Federal Open Market Committee.
Facebook said it will shut down its face-recognition system and delete faceprints of more than 1 billion people.
The world’s biggest shipping company, Denmark’s A.P. Moller-Maersk, has reported a sharp rise in earnings amid strong worldwide demand for shipments of goods.
Stocks closed higher on Wall Street Tuesday, pushing the Dow Jones Industrial Average to its first close above 36,000 points.
Stocks ended a wobbly day modestly higher on Wall Street, enough to notch more all-time highs for major indexes.
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.
