Streetbeat News

Corporate Responsibility

AAPL

Apple Inc. has implemented a 27% commission fee on sales from links clicked in iOS apps, drawing criticism from developers and Ark Invest analyst Andrew Kim. This move, following a partial victory against Epic Games in an antitrust lawsuit, is seen as potentially alienating developers and undermining the court's order, according to Epic Games CEO Tim Sweeney. Critics, including Ruby on Rails creator David Heinemeier Hansson, have labeled Apple as 'Enemy Number 1' for developers, comparing its tactics to past Microsoft practices.

Portfolio Pulse from Rounak Jain

January 23, 2024 | 11:10 am

DLTH

Duluth Holdings Inc., known as Duluth Trading Company, announced Heena Agrawal as the new Senior Vice President and Chief Financial Officer, effective February 12, 2024. Duluth Trading is a lifestyle brand offering a range of apparel and accessories.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 10:47 am

BP

BP is expected to appoint Kate Thomson as its permanent Chief Financial Officer (CFO) in the coming weeks, according to sources cited by Reuters.

Portfolio Pulse from Charles Gross

January 23, 2024 | 10:04 am

BAC

Bank of America has reportedly cut around 20 investment banking jobs in Asia, according to sources cited by Reuters. This move is part of a global restructuring effort in response to a slowdown in deal-making activity.

Portfolio Pulse from Charles Gross

January 23, 2024 | 9:50 am

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), visited Auschwitz and declared himself 'aspirationally Jewish' after lighting a candle in memory of Holocaust victims. His visit was part of an event by the European Jewish Association to combat rising antisemitism. Musk has faced criticism for allowing antisemitic hate speech on Twitter, which he owns, and a study found an increase in antisemitism on the platform after he took over.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 8:48 am

NFLX

Netflix Inc. (NASDAQ:NFLX) will start streaming 'Crossroads,' Britney Spears' 2002 debut film, globally on February 15. The film, which also stars Zoë Saldana and was written by Shonda Rhimes, coincides with its original release date. Additionally, Scott Stuber, a key figure in Netflix's success, is set to leave the company in March to start his own production business.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 8:14 am

GOOG

TCEHY

Tencent Holdings Ltd's subsidiary Riot Games is laying off 11% of its workforce, around 530 employees, due to unsustainable costs and the need for a sharper focus. The layoffs will affect non-core development teams and will see the discontinuation of new game development under 'Riot Forge' and adjustments to 'Legends of Runeterra'. The gaming industry has seen over 10,000 layoffs in 2023, with AI's impact on jobs and income inequality being a concern highlighted by the IMF.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 7:51 am

ORCL

Oracle has launched its OCI Generative AI service, which is now generally available and offers models from Cohere and Meta for both cloud and on-premises solutions. This service is the first in a series of OCI Generative AI Agents aimed at revolutionizing data-driven decision making. Additionally, Oracle is facilitating the integration of AI into contemporary workloads.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 7:27 am

AAPL

MASI

A teenager's life was saved in Peru by the blood oxygen detection feature on an Apple Watch, despite the feature being banned in the U.S. due to a patent dispute with Masimo Corporation. The feature is disabled on new Apple Watch models sold in the U.S. but remains functional on international models and those sold before the ban. Apple CEO Tim Cook expressed gratitude upon hearing the story. The Apple Watch has been noted for its health-alerting capabilities, including previous instances of detecting serious heart conditions and aiding in emergencies.

Portfolio Pulse from Ananya Gairola

January 23, 2024 | 7:12 am

TSLA

Franz von Holzhausen, Tesla's senior design executive, praised CEO Elon Musk for his boldness, which allows Tesla to break away from conventional designs and 'bring the future forward.' The Cybertruck, with its unique stainless steel exterior, exemplifies Tesla's innovative approach. Although the Cybertruck has not yet launched in China, a tour showcasing the vehicle is planned. Tesla faces stiff competition in China, especially from BYD, which recently overtook Tesla in EV sales. However, Holzhausen welcomes competition as it drives Tesla to improve.

Portfolio Pulse from Anan Ashraf

January 23, 2024 | 6:40 am