Apple said Tuesday it plans to ask a US judge to dismiss a lawsuit filed by the Justice Department and 15 states in March that alleged the iPhone maker monopolized the smartphone market, hurt smaller rivals and drove up prices.In a letter to US District Judge Julien X. Neals, Apple said “far from being a monopolist, Apple faces fierce competition from well-established rivals, and the complaint fails to allege that Apple has the ability to charge supra-competitive prices or restrict output in the alleged sma ...

Pixar Animation Studios, the studio behind such classic films as “Toy Story” and “Up,” began laying off about 14% of its workforce Tuesday as it scales back development of original streaming series, according to a source familiar with the development.Approximately 175 people will be impacted by the job cuts.The studio behind such classic films as “Toy Story,” above and “Up,” began laying off about 14% of its workforce. APThe animation studio had ramped up production of original series as former Walt Disney ...

US national security officials have reportedly warned Google, Meta and other firms that their undersea internet cables could be at risk of tampering by China-controlled repair ships.The concerns are reportedly centered on underwater fiber-optic cables in the Pacific Ocean that are partially owned by the Big Tech firms and used to maintain the flow of data from the US to Asia. The difficult-to-access cables require maintenance from specialized firms, including some owned by China.State Department officials h ...

Core Insights - Boeing's CEO Dave Calhoun was re-elected to the board despite ongoing quality-control issues and investigations [1][2] - The company is preparing to meet with the FAA to address systemic quality-control problems following a mid-air emergency [2] - Boeing's stock has decreased by 30% this year, reflecting investor concerns over leadership and performance [3][5] Group 1: Leadership and Management Changes - Calhoun plans to retire by year-end, prompting the search for a new CEO, with an external advisor assisting in the process [2] - The company is seeking feedback from various stakeholders to identify a suitable successor [3] - Management experts suggest that a new CEO with a technical background in aerospace is essential for Boeing's recovery [5] Group 2: Shareholder Sentiment and Compensation - Shareholders supported a non-binding advisory vote on CEO compensation, indicating concerns over alignment with company performance [3] - Portfolio manager Tony Bancroft believes Calhoun's pay is appropriate for a company of Boeing's size [5] - Potential successors for the CEO position include Pat Shanahan, David Gitlin, and Greg Smith, as identified by analysts [5]

Apple is developing a slimmer version of the iPhone that is likely to be launched by 2025, the Information reported Friday, citing three people with knowledge of the project.The potential thinner version is likely to be priced higher than Apple’s iPhone Pro Max, and is expected to be launched with the iPhone 17 in September 2025, the report said.The Cupertino, Calif.-based company is still testing different designs for the device, code-named D23, that could have Apple’s latest-generation processor, likely c ...

McDonald’s customers fumed at the fast food chain for the “skimpy” offerings on its new $5 value deal — and that the promotion will only last for just one month.The Chicago-based company will roll out the $5 combo meal on June 25 for either a McDouble or a McChicken sandwich that come with small fries, four pieces of Chicken McNuggets and a small soft drink.The promotion will be halted at the end of July. 4 McDonald’s is rolling out a new $5 value meal bundle that has prompted criticism on social media. R ...

Reddit has partnered with OpenAI to bring its content to popular chatbot ChatGPT, the companies said on Thursday, sending the social media platform’s shares up 12% in extended trade.The deal underscores Reddit’s attempt to diversify beyond its advertising business, and follows its recent partnership with Alphabet to make its content available for training Google’s AI models.ChatGPT and other OpenAI products will use Reddit’s application programming interface, the means by which Reddit distributes its conten ...

Wealthy shoppers have flocked to Walmart in greater numbers, helping the nation’s largest retailer overcome inflation headwinds faced by rivals and fuel better-than-expected quarterly results, the company said Thursday.Walmart said total US comparable sales rose 3.8% in its first quarter ended April 30 — with the bulk of the gains coming from households with an income of $100,000 or more.“We are seeing customers trade into Walmart,” Chief Financial Officer John David Rainey told Bloomberg.“We’ve historicall ...

Instagram parent Meta will face an investigation in Europe over its alleged failure to protect kids online from social media addiction, dangerous content and other harmful effects, regulators said Thursday.The European Commission is probing whether Meta is in violation of the Digital Services Act — a sweeping law that took effect last year and requires Big Tech firms to police content on their platforms.Officials said they are concerned Facebook and Instagram “may stimulate behavioral addictions in children ...