Apple reportedly looking to buy Cobalt directly from miners. The metal is used in lithium-ion batteries in Apple's devices, but it can also power electric vehicles. Shares of Apple up half a percent on Wednesday. Inverse Technology Reporter Mike Brown explains how this move might help Apple further its dominance in the tech space.
"There's a race at the moment for supplies over the coming few years," says Brown. Electric vehicles use about 1,000 times as much Cobalt as smartphone devices.
"It would be the first time Apple secured its own Cobalt supply so it could help to re position itself as a company, rather than going to factory manufacturers that deal directly with suppliers itself," says Brown.
Sketchers is yet another retailer to announce its entrance into the realm of the metaverse. The footwear company will be launching virtual clothing as well as an experiential store in Decentraland.
Cheddar catches up with Edwina Fitzmaurice, EY Chief Customer Success Officer, at South by Southwest in Austin, Texas to break down why artificial intelligence will not replace the jobs of humans, and why creatives are leading the way towards the metaverse.
As the Russia-Ukraine conflict continues to grow, so do concerns over the impact it could have on the international space community, and more specifically, the International Space Station. Those concerns come after Dmitry Rogozin, the director of Russia's state space agency, posted several tweets over the last few weeks in which he threatened to 'destroy Russia's cooperation on the ISS.' Olympia LePoint, rocket scientist and author of 'Answers Unleashed II: The Science of Attracting What You Want,' joined Cheddar News' Closing Bell to discuss.
U.S. markets closed the day at session lows as the Dow marked its fifth straight week of losses. Investors continue to weigh inflation and the ongoing Russia-Ukraine war and growing economic risk factors. George Seay, CEO of Annandale Capital, joins Cheddar News' Closing Bell to discuss.
