lunes, abril 15

Business

Apple Kills Its Electric Car Project
Business

Apple Kills Its Electric Car Project

Associated media - Connected media Though Apple had not unveiled its car to consumers, the product had for many years been one of Silicon Valley’s worst-kept secrets because it was being tested on public roads. The cancellation is a rare move by Apple, which typically doesn’t shelve such public and high-profile projects. The company has struggled in recent years to find new avenues for growth as its all-important iPhone has saturated the market and people are upgrading their phones less frequently than they used to. Tim Cook, Apple’s chief executive, has publicly hinted that Apple was interested in entering the car space. The company had also been testing hundreds of vehicles equipped with autonomous driving technology in public for many years. The car, internally code-named Titan an...
The Apple Car is Dead, But the Innovation Behind It Lives on
Business

The Apple Car is Dead, But the Innovation Behind It Lives on

Connected media - Connected media Innovation on wheels Has Apple really crashed the car? The tech giant has killed its electric vehicle project as it pivots to artificial intelligence, prompting many observers to declare the venture a major failure for the company. Here’s a contrarian thought: That critique misses a wider point about how Apple innovates, because the company has used the project to power a whole ecosystem of products and services that have been unmitigated successes. Apple invested billions to build a self-driving car. Reports emerged about the secret effort, code-named Project Titan, in 2014, and the company has never publicly acknowledged its existence. That said, it told staff on Tuesday that many of them would be redeployed. There had been an wider internal debat...
Jacob Rothschild, Banker, Financier and Philanthropist Dies at 87
Business

Jacob Rothschild, Banker, Financier and Philanthropist Dies at 87

Connected media - Related media News articles: Related news Jacob Rothschild, a wealthy financier, patron of the arts and philanthropist with close ties to Israel, who broke with his family’s fabled banking dynasty at a time of radical change in the world of high finance, has died. He was 87. His death was announced on Monday by the Rothschild Foundation, a British charity of which he was the chairman. It did not specify when or where he died or give the cause of death. Mr. Rothschild — more formally the fourth Baron Rothschild — was descended from Mayer Amschel Rothschild, a coin trader in the Jewish ghetto in Frankfurt, who sent four of his five sons to Vienna, London, Naples and Paris to seek their fortune in the late 18th and early 19th centuries. For most of the 19th century,...
Odysseus Moon Lander Sends Photos Home Before Spacecraft Likely Dies
Business

Odysseus Moon Lander Sends Photos Home Before Spacecraft Likely Dies

Associated media - Related media Odysseus, the American robotic spacecraft that landed on the moon last week, is likely to die in the next day or so. Communications with the toppled lander remain limited and will end when sunlight is no longer shining on the solar panels, Intuitive Machines, the Houston-based company that built and operates Odysseus, said on Monday morning. The company also released images that the spacecraft took as it descended, but none yet from the surface. Odysseus is the first American spacecraft to land on the moon since Apollo 17 in 1972, and the first private one ever to successfully set down there in one piece. However, during the landing on Thursday evening, the lander, about 14 feet tall, appears to have been traveling faster than planned and ended up tip...
An Emboldened F.T.C. Bolsters Biden’s Efforts to Address Inflation
Business

An Emboldened F.T.C. Bolsters Biden’s Efforts to Address Inflation

Associated media - Linked media Mr. Biden and the F.T.C. chair, Lina Khan, have greeted similar arguments about the benefits of corporate mergers with intense skepticism. Early in his term, Mr. Biden appointed Ms. Khan, who has steered the agency to its most aggressive antitrust enforcement in decades. The president also stocked a 2021 executive order, meant to promote competition in the economy, with directives for the F.T.C. — including to more stringently scrutinize certain types of mergers. The agency — and the Justice Department, which has also beefed up antitrust efforts — have responded vigorously. The F.T.C. has now taken action against about 40 mergers, including tie-ups of video game heavyweights, hospital chains and pharmaceutical companies. About half of those mergers hav...
Macy’s Will Close 150 Stores but Expand Bloomingdale’s and Bluemercury
Business

Macy’s Will Close 150 Stores but Expand Bloomingdale’s and Bluemercury

Related media - Connected media “We have to focus on having the best stores, not the largest number of stores,” Mr. Spring said on a call with analysts on Tuesday. The company said it would start notifying workers later that day at stores it planned to close. It plans to shutter roughly 50 stores this fiscal year and the rest by the end of 2026. As Macy’s reduces its retail footprint, Bloomingdale’s is expected to open 15 locations. Bluemercury, the company’s beauty chain, will add 30 stores, and remodel others. As of November, there were 58 Bloomingdale’s and 158 Bluemercury locations. “There’s less competition there, but the problem is that it’s not clear that the luxury department store really has a great future,” said David Swartz, a retail analyst at the financial services firm ...
Sam Bankman-Fried Seeks Lenient Sentence and to Appeal Conviction
Business

Sam Bankman-Fried Seeks Lenient Sentence and to Appeal Conviction

Connected media - Connected media In January, two close family friends, the Yale Law professor Ian Ayres and the Stanford Law professor John Donohue, wrote an essay for the website Project Syndicate, arguing that “all along” FTX had enough assets to make its customers whole — a point that Mr. Mukasey echoed in the memo. “Whatever else might be said about Bankman-Fried, he was a brilliant businessman,” Mr. Ayres and Mr. Donohue wrote. Another law professor, Jonathan Lipson at Temple University, said in an interview that he was working with David Skeel of the University of Pennsylvania law school on an academic paper criticizing Sullivan & Cromwell, the law firm overseeing FTX’s bankruptcy. In September, Mr. Lipson co-wrote a brief in the bankruptcy case arguing for the appointment...
China Expands Scope of ‘State Secrets’ Law in Security Push
Business

China Expands Scope of ‘State Secrets’ Law in Security Push

Related media - Linked media Ms. Choyleva said many companies will be trapped in a state of “paralysis” while they wait to see how China applies the new provisions in the law. It is the latest example of the country’s heightened vigilance of state security under the leadership of Xi Jinping. Over the last few years, China has progressively fortified its national security and data sharing laws, while warning about the risks of spying under the cloak of business. But the strengthening of China’s national security laws has rattled many foreign businesses and investors. Many of the changes exercise an unclear and expansive criteria of what would constitute a national security risk, raising the possibility that the rules could be applied arbitrarily. The crackdown has amplified the challe...
Vermont’s Jay Peak Emerges From a Cloud of Financial Scandal
Business

Vermont’s Jay Peak Emerges From a Cloud of Financial Scandal

Associated media - Related media Settling into the first tram of the morning at Vermont’s Jay Peak resort last month, I looked down to see a young boy wearing a neon helmet pressed against the window, his father next to him, as excited as I was to ski the foot of fresh snow. The boy told me that he was 10 years old. I asked him why he liked coming to Jay Peak. “Because of the Jay Cloud,” he said matter-of-factly, as if it were obvious. “It has the best snow.” As if on cue, the world outside the aerial tram car suddenly went from blue to white. Sixty of us in the rising tram were in our own personal snow globe. The mystique of Jay Peak, the northernmost ski area in Vermont, is intimately bound to the Jay Cloud, a mythical storm cloud that hovers over its rocky summit. The resort, five...
How the Media Industry Keeps Losing the Future
Business

How the Media Industry Keeps Losing the Future

Connected media - Associated media Cutbacks were just announced at Law360, The Intercept and the youth-oriented video site NowThis, which laid off half its staff. The tech news site Engadget, which comprehensively tracks tech layoffs, laid off its top editors and other staff members. Condé Nast and Time are shedding employees. The continued existence of Vice Media, once valued at $5.7 billion, and Sports Illustrated, in another era the most influential sports publication, is uncertain. The Los Angeles Times and The Washington Post eliminated hundreds of journalists between them. One out of four newspapers that existed in 2005 no longer does. The slow crash of newspapers and magazines would be of limited interest save for one thing: Traditional media had at its core the exalted and di...