Apple sued by shareholders who allege it overstated AI progress
Apple was sued on Friday by shareholders in a proposed securities fraud class action that accused it of downplaying how long it needed to integrate advanced artificial intelligence into its Siri voice assistant, hurting iPhone sales and its stock price….
How Fanatics is teaching business acumen to pro athletes
Sports merchandising giant Fanatics is aiming to build a training camp for athletes to prepare them for life off the field. More than two dozen NBA, NFL and NHL players participated in the company’s Athlete Immersion Program this past weekend…
Tesla agrees to first deal to build China’s largest grid-scale battery power plant
Tesla has inked its first deal to build a grid-scale battery power plant in China amid a strained trading relationship between Beijing and Washington. The U.S. company posted on the Chinese social media service Weibo that the project would be…
Oil prices rise more than 1% as Israel vows to intensify attacks on Iran
Crude oil futures rose more than 1% on Thursday, after Prime Minister Benjamin Netanyahu ordered Israel’s military to intensify attacks against Iran. U.S. crude oil was last up $1.36, or 1.81%, to $76.50 per barrel by 9:38 a.m. ET, while…
Apple looking to make ‘premium’-priced folding iPhones starting next year, analyst says
Apple has plans to make a folding iPhone starting next year, reliable analyst Ming-Chi Kuo said on Wednesday. Kuo said Apple’s folding phone could have a display made by Samsung Display, which is planning to produce as many as eight…
DOJ seizes record $225 million in crypto tied to global ‘pig butchering’ scams
The Justice Department announced Wednesday the largest-ever U.S. seizure of cryptocurrency linked to so-called “pig butchering” scams that have cost victims billions globally. Federal prosecutors filed a civil forfeiture action targeting more than $225 million in cryptocurrency traced to a…
Nike pushes back Skims launch with Kim Kardashian due to production delays
Kim Kardashian fans are going to have to wait a little longer for the highly anticipated NikeSKIMS line. The activewear line will launch later this year instead of in the spring, like the companies had originally announced, because of production…
Streaming overtakes cable and broadcast as the most-watched form of TV
A new king reigns in TV land. Streaming has officially surpassed broadcast and cable as a share of total television viewing, according to Nielsen data. In May, streaming accounted for 44.8% of viewership, while broadcast (20.1%) and cable (24.1%) together…
Kraft Heinz to remove artificial dyes from U.S. products by end of 2027
Kraft Heinz said Tuesday that it will remove FD&C artificial dyes from its products by the end of 2027, and will not launch any new products in the U.S. containing those ingredients. The company said in a release that about…
Amazon expects to cut corporate jobs as it relies more on AI
Amazon CEO Andy Jassy said Tuesday that the company expects artificial intelligence ‘will reduce our total corporate workforce as we get efficiency gains’ over time. ‘We will need fewer people doing some of the jobs that are being done today,…
