Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.The United States has filed a lawsuit against Apple on charges of using its power in the smartphone sector to suppress competition from rivals and limit consumer choice, in the latest criticism against the dominant big technology companies from the Joe Biden administration. The move comes as Apple faces pressure from regulators, courts and competitors around the world over the way it operates the iPhone, putting its $85 billion annual services revenue at risk. Apple shares fell about 3 percent.The landmark lawsuit…
Author: ricardofrancois
The expense management arena is A crowded onewith well-funded players like Brex, Ramp, and Navan all clamoring for market share. These companies generally focus on technology startups and large companies. But the four-year-old competitor, coastseeks to go after a different type of customer – companies that have so-called “real-world” field employees and fleets to manage as Trucking companies, plumbers, HVAC companies, or last-mile delivery companies. Founded in late 2020 by Daniel Simon, Coast describes itself as “the modern financial services platform for the future of transportation.” It compares itself to the likes of Ramp and Brex in that it has…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.The writer is Principal of Homerton College, Cambridge, and former Head of the UK Government's Race Disparities Unit The UK is facing a waiting crisis due to widespread discrimination in the workplace. I hoped, perhaps naively, that young people today would not endure what I had to endure when I entered the workforce more than forty years ago. I was hoping that by 2024, being judged by the color of my skin instead of my talents and skills would be a thing…
Tesla CEO, Elon Musk (L), and Nvidia CEO, Jensen Huang (R).ReutersIn November 2023, in a comprehensive meeting with employees, Nvidia CEO Jensen Huang was asked if the company would follow suit apple And Disney and suspended its advertising on X due to high levels of anti-Semitism and other hate speech on the platform.X's owner, Elon Musk, said earlier that month that he had approved a post on the site that accused “Jewish communities” of pushing “anti-white hate.” Several brands — including Disney and Apple — moved quickly to pause their advertising campaigns.Huang's response was firm but diplomatic, according to the…
Blurred buses pass in front of the Bank of England in the City of London on February 7, 2024 in London, United Kingdom. Mike Kemp | In pictures | Getty ImagesLONDON – The Bank of England on Thursday kept interest rates steady at 5.25%, but hinted at cuts on the horizon as inflation falls faster than expected.The Monetary Policy Committee voted 8 to 1 to keep interest rates steady, with one member voting in favor of a 25 basis point cut to 5%. It is worth noting that no members voted in favor of further increases for the first time…
Check out the companies making the biggest moves in pre-market trading: Micron – Shares rose 16.5% after the semiconductor manufacturer's second-quarter earnings and revenue beat analyst estimates. Micron reported earnings of 42 cents per share on $5.82 billion in revenue, higher than the loss of 25 cents per share on $5.35 billion in revenue that revenue analysts surveyed by LSEG had expected. Micron also headed for higher-than-expected earnings and revenue in the third quarter. Apple – The iPhone maker's stock fell 1% after Bloomberg reported that the Justice Department may file an antitrust lawsuit against Apple early Thursday. Astera Labs…
Washington – With abortion rights likely to become one of the major issues in the 2024 election, a new poll shows that Asian Americans, Native Hawaiians, and Pacific Islanders in the United States strongly support legal abortion, even in situations where a pregnant woman wants an abortion. For any reason.The poll by AAPI Data and the Associated Press-NORC Center for Public Affairs Research found that nearly 8 in 10 Asian Americans, Native Hawaiians and Pacific Islanders believe abortion should be legal in all or most cases. They also support federal government action to preserve abortion rights: Three-quarters of AAPI adults…
A sign hangs on the facade of Olive Garden restaurant on June 22, 2023 in Chicago, Illinois.Scott Olsen | Getty ImagesDarden Restaurants On Thursday, it reported mixed quarterly results as the Olive Garden owner's same-store sales contracted for the first time since the pandemic.The company's shares fell more than 5% in pre-market trading.Here's what the company reported compared to what Wall Street was expecting, based on a survey of analysts conducted by LSEG, formerly known as Refinitiv:Earnings per share: $2.62 adjusted in line with expectations Revenue: $2.97 billion vs. $3.03 billion expectedDarden reported fiscal third-quarter net income of $312.9 million,…
When Lech Mintoot Cheese wrote speeches for Ben van Beurden, part of his job was to help the then Shell CEO connect emotionally with audiences in a way he was not accustomed to.The oil and gas company has been under pressure from investors and activists for its role in enabling climate change, and whenever Van Beurden spoke, it was “a very impressive series of precise decisions,” Mintout-Ces says. It took a long time to build a relationship with Van Beurden and gain his trust. Speechwriters like Mintowt-Czyz now face a new set of pressures as generative AI tools like ChatGPT…
With a budget deficit of at least $38 billion hanging over their heads, Gov. Gavin Newsom and Democratic leaders in the state Senate and Assembly announced an agreement Wednesday to take action in April to begin significantly reducing California's historic deficit. The problem: Democrats in the state Capitol couldn't actually agree on an amount — offering only a range of $12 billion to $18 billion — or explain exactly what they plan to cut. These details will be discussed and shared next month, the governor's office said. The surprise announcement of a plan comes as pressure mounts on Democrats over…