headlines...by halloapp

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01-19-2024

TECH

• Apple has released its Vision Pro mixed-reality headset for pre-order, priced at $3,499, with delivery starting on February 2.

• Apple has offered to grant access to its tap-and-go mobile payment system to third-party wallet providers to resolve an EU antitrust case.

• Mark Zuckerberg is merging Meta’s AI divisions to accelerate general-purpose AI development and attract top talent, investing heavily in AI infrastructure.

• Apple has resolved a patent dispute with Masimo by disabling the blood oxygen feature on Apple Watch models sold in the US.

• Microsoft is offering its AI-powered Reading Coach app for free, providing personalized reading practice and feedback to improve literacy skills.

• Instagram, owned by Meta, will send ”nighttime nudges” to teens spending over 10 minutes on the app late at night to manage screen time.

MEDIA

• Nelson Peltz and Blackwells Capital nominate candidates for Disney’s board, criticizing underperformance and calling for improved shareholder returns and CEO succession.

• Xbox’s upcoming RPG game, Avowed, received mixed reactions due to stiff combat, odd animations, and dated visuals. Set to release in fall 2024 on Xbox Series X/S, PC, and Game Pass, the game features a first-person perspective, old-school fantasy elements, and multiple play styles. The game also includes combat, story interactions, and a quest to stop a plague in The Living Lands. Microsoft has released a new trailer highlighting the game’s combat and announcing a release window.

• The Los Angeles Times is facing significant layoffs, potentially affecting 100 journalists or 20% of the newsroom, leading to a planned one-day walkout by the union.

• Prince Harry has withdrawn his libel lawsuit against the Daily Mail and Mail on Sunday over articles related to his security arrangements and legal challenge against the Home Office.

CONSUMER

• UK retail sales fell by 3.2% in December, the sharpest decline in almost three years, raising concerns of a recession.

• Michael Burke has been appointed as the new chairman and CEO of LVMH Fashion Group, overseeing all of the group’s fashion labels, effective from February 1.

• Shares of Watches of Switzerland Group (WOSG) plummeted by more than 28% due to weak trading and lower revenue expectations. Affluent customers are shifting spending towards fashion, beauty, hospitality, and travel. The luxury retail sector is experiencing slower growth and rising prices.

REAL ESTATE

• Tata Steel plans to close blast furnaces at its Port Talbot plant, potentially cutting up to 2,800 jobs, sparking anger and concerns.

• US mortgage rates have dropped to their lowest level since May 2023, reaching an average of 6.60%. This could boost the housing market and increase buyer traffic.

• Japanese homebuilder Sekisui House plans to acquire US homebuilder M.D.C. Holdings for $4.9 billion, causing M.D.C. shares to surge 18.4%.

ECONOMIC

• Congress has passed a short-term spending bill to avoid a government shutdown, extending funding until March for some agencies.

• President Joe Biden has announced the cancellation of nearly $5 billion in student debt for 74,000 borrowers, bringing the total loan forgiveness to $136.6 billion for over 3.7 million Americans. The income-driven repayment plan, known as SAVE, could save borrowers $1,000 a year on student loan payments and offer balance forgiveness starting in February. The relief targets public servants and those enrolled in income-driven repayment programs.

• China’s economy is facing challenges with slow GDP growth, declining population, low investor confidence, and a struggling asset management sector.

CRYPTO

• BlackRock’s iShares Bitcoin Trust (IBIT) has reached $1 billion in assets, making it the first Bitcoin ETF to achieve this milestone.

• Coinbase and Binance, two major cryptocurrency exchanges, are facing legal battles with the SEC over allegations of fraud and regulatory violations. The outcomes of these cases could impact the regulation and future of the cryptocurrency industry.

• The introduction of affordable spot bitcoin ETFs may affect Coinbase’s trading volume, margin, and commissions, possibly driving customers to equity brokers.