Apple Inc reported strong first-quarter results last week and expectations for continued outperformance are running high. But an analyst at Credit Suisse is bracing for a more muted performance in the current calendar year and here’s why. The Apple Analyst Credit Suisse analyst Sami Badri maintained a Neutral rating on Apple shares and increased the price target…
Dozens of States Say Apple Stifles Competition; Back ‘Fortnite’ Maker
OAKLAND, Calif.—Apple Inc. is stifling competition through its mobile app store, attorneys general for 34 U.S. states and the District of Columbia said on Thursday, as they appealed against a ruling that let the iPhone maker continue some restrictive practices. While dozens of state attorneys general have filed recent antitrust lawsuits against other big tech…
Neil Young’s Exclusive Radio Station Revived on Sirius XM
Sirius XM has announced its intention to restore a formerly defunct radio station dedicated exclusively to the music of Neil Young, likely in response to the singer’s ongoing battle with the streaming platform Spotify. Like a phoenix from the ashes, “Neil Young Radio” has been resuscitated by Sirius XM after a limited-time debut last month….
Cathie Wood Nearly Exits Netflix Stake, Also Sells $4 Million Shares in Rival Disney
Cathie Wood-led Ark Investment Management on Thursday nearly shed all of its exposure in Netflix Inc. and also sold shares in rival entertainment giant Walt Disney Co. The popular money managing firm sold 2,171 shares—estimated to be worth $839,525—in Netflix on the day shares of the company closed 7.5 percent higher at $386.7 a share. The…
Google Versus Facebook: Tech Giants Back Rival Mobile Phone Operators in India
Alphabet Inc.-owned Google will invest up to $1 billion in India’s second largest telecom operator Bharti Airtel, two years after Mark Zuckerberg-led Facebook’s—now renamed as Meta Platforms Inc.’s—mega funding in Reliance Jio Platforms. What Happened The deal involves Google investing $700 million to buy a 1.28 percent stake in Airtel at a price of about $9.9 a…
Amazon Closes SBA Program and Agrees to $2.25 Million Settlement Following AG Investigation
Amazon agrees to pay a $2.25 million settlement and shut down its “Sold By Amazon” (SBA) sales program nationwide based on an investigation by the attorney general of Washington that found the company allegedly violated antitrust laws and engaged in price fixing. Attorney General (AG) Bob Ferguson announced on Wednesday that his office has filed…
WhatsApp Has Until End of Feb to Clarify Privacy Policy Change, EU Says
BRUSSELS—Facebook unit WhatsApp has been given until the end of February to explain changes to its privacy policy and whether this complies with EU consumer protection laws after complaints from consumer groups, the European Commission said on Thursday. The European Consumer Organisation (BEUC) and eight of its members took their grievances to the EU executive…
Facebook Wins Conditional EU Antitrust Nod for Kustomer Deal
BRUSSELS—Facebook on Thursday secured EU antitrust approval for its acquisition of U.S. customer service startup Kustomer after agreeing to provide rivals free access to its messaging channels for 10 years. The European Commission said the pledge addressed competition concerns. Reuters reported last month that the world’s largest social network would gained conditional EU clearance for…
Lawmakers Ask NBC About CCP Influence on Winter Olympics Coverage
Two GOP lawmakers want to know whether the Chinese Communist Party (CCP) has influenced NBCUniversal’s coverage of the 2022 Winter Olympics. “Given China’s history of censorship and government control, and the fact that the International Olympic Committee (IOC) stands to benefit financially from NBCUniversal’s coverage of the games, we are concerned about the extent of…
US Lawmakers Ask NBC About CCP Influence on Winter Olympics Coverage
Two Republican U.S. lawmakers want to know if the Chinese Communist Party (CCP) will have influence over NBCUniversal’s coverage of the 2022 Beijing Winter Olympics. “Given China’s history of censorship and government control, and the fact that the International Olympic Committee (IOC) stands to benefit financially from NBCUniversal’s coverage of the games, we are concerned…
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