FCC Chair Under Investigation, Snap CEO Defends App Redesign
FCC Chairman Ajit Pai is under investigation for collusion. Last year, Pai and the FCC changed the law which dictates how many stations a TV broadcaster can own. This paved the way for Sinclair to buy Tribune Media for $3.9 billion. Now, investigators are looking into whether Pai improperly colluded with Sinclair to change these rules.
Snap CEO Evan Spiegel is doubling down on the controversial app redesign after facing fierce backlash. At a conference, Spiegel said the widespread criticism actually validates Snapchat's mission. The update rolled out globally a few days ago and has faced sharp backlash from teens and even celebrity influencers like Chrissy Teigen. The new Snapchat separates friends and family from celebrities and media content. A petition to revert back to the old version has already picked up 1 million signatures.
Amazon says it had its best Prime Day sales event ever this week with $14.2 billion spent online on Tuesday and Wednesday, up 11% compared to last year.
Robo Global indexes integrate robotics, AI, and healthcare tech, showcasing AI's role in advancing robotic applications and sustaining market resilience.
Despite economic concerns and a cooling labor market, construction shows resilience, with 27,000 new jobs created and a decreased unemployment rate of 3.3%.
