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.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Canopy Growth reported a wider-than-expected loss in its fourth quarter and fiscal year results. However, the cannabis company plans to expand its portfolio and make new investments to achieve profitability and drive growth. CEO David Klein provides insight into the earnings report and how the company plans to reach profitability. “The premium strategy coupled with our mainstream brands in Canada is the key to achieving profitability here," he said.
U.S. stocks ended near session highs to close Thursday's session after retailers released positive earnings results. Investors also continued to weigh the federal reserve's recent indication that the central will raise rates in an effort to curb inflation. Adam Johnson, Portfolio Manager for Adviser Investments, joins Cheddar News' Closing Bell to discuss.
Elon Musk officially dropped out of the $200 billion club.
The move comes as Tesla's stock continues to plummet as a number of banks and analysts reconsider their lofty valuation of the automaker. Greg Martin, Co-Founder, Rainmaker Securities joined Cheddar's Opening Bell to discuss.
On today's Biz Breakdown: Elon Musk ups his offer to buy Twitter, Pfizer drops vaccine cost for some lower income countries, and Oreo & Ritz team up to create a cracker-cookie Sandwich
Catching you up on today's top stories with Elon Musk raising his own commitment to purchasing Twitter with $33.5 billion, Apple plans to produce 220 million iPhones this year, and the company also is raising its hourly retail wage to $22 per hour amid ongoing unionization efforts at its stores.
Everyone is searching for that social media moment, whether it’s filming a viral dance for TikTok or snapping a selfie for your Instagram Story. Cheddar News explores the activities made for the online world, including streaming companies creating real-life experiences to entice you to stay subscribed, TikTok taking the stage with its first theatrical production, and how one immersive experience made out of candy encourages you to revisit your childhood.
It's not a scene from a movie: an asteroid the size of Mount Everest is headed toward earth. It's bigger than 99% of the asteroids in our solar system. But Cheddar anchor Shannon Lanier says fear not. The giant rock will miss us by more than 2 million miles.
Join Cheddar News as we break down the top headlines for Thursday, May 26 including updates on the Texas school shooting, President Joe Biden's executive order on police reform, and a recount in the Pennsylvania GOP Senate primary.
