Apple (AAPL) is scrapping its plans to build an electric car, according to a report from Bloomberg. The tech giant is reportedly moving many of the team members working on the car project to a team focused on artificial intelligence instead. Yahoo Finance Tech Editor Dan Howley says that generative AI is one of the three things Apple should spend its time and money on now. Watch the video above to find out what the other two are. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Stephanie Mikulich.
Apple (AAPL) is scrapping its plans to build an electric car, according to a report from Bloomberg. The tech giant is reportedly moving many of the team members working on the car project to a team focused on artificial intelligence instead.
Yahoo Finance Tech Editor Dan Howley says that generative AI is one of the three things Apple should spend its time and money on now. Watch the video above to find out what the other two are.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Stephanie Mikulich.
Associated Press Finance
The Federal Aviation Administration is giving Boeing 90 days to come up with a plan to fix quality problems and meet safety standards for building new planes. The agency said Wednesday that the directive follows meetings with top Boeing officials, including the company's CEO at FAA headquarters in Washington. “Boeing must commit to real and profound improvements,” said FAA Administrator Mike Whitaker.
The Wall Street Journal
The question in 2024 is “How Much is the Beef?” It has been almost two weeks since burger chain Wendy’s unveiled full-year results and, aside from mild investor disappointment (the stock fell by 1.5% that session), management’s predictably upbeat comments didn’t spark much of a reaction. Suddenly, though, something Chief Executive Officer Kirk Tanner said back then has sparked unwelcome headlines for the chain known for its square beef patties: “Beginning as early as 2025, we will begin testing more enhanced features like dynamic pricing and day-part offerings along with AI-enabled menu changes and suggestive selling.” Dynamic pricing, less-flatteringly known as “surge pricing,” is a practice associated with companies like Uber, but it is actually widespread.
The Wall Street Journal
Shares of UnitedHealth fell Wednesday morning, extending a retreat sparked late yesterday by news that the Justice Department has launched an antitrust investigation into the company. UnitedHealth, owner of the biggest U.
Investor's Business Daily
Apple has hit the brakes on its plans to build an electric car, according to a report. Apple's move could materially improve the operating margins of AAPL stock, said a Morgan Stanley analyst. Apple's exit from the electric vehicle race comes as consumer enthusiasm for electric cars wanes and competition intensifies as Chinese companies make a big market push.
Reuters
BRUSSELS (Reuters) -Alphabet's Google was hit with a 2.1-billion-euro ($2.3 billion) lawsuit by 32 media groups including Axel Springer and Schibsted on Wednesday, alleging that they had suffered losses due to the company's practices in digital advertising. The move by the group - which include publishers in Austria, Belgium, Bulgaria, the Czech Republic, Denmark, Finland, Hungary, Luxembourg, the Netherlands, Norway, Poland, Spain and Sweden - comes as antitrust regulators also crack down on Google's ad tech business. "The media companies involved have incurred losses due to a less competitive market, which is a direct result of Google's misconduct," a statement issued by their lawyers Geradin Partners and Stek said.
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