headlines...by halloapp

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12-16-2023

TECH

- DocuSign's stock rose as the e-signature company explores a potential sale, attracting interest from private equity firms and technology companies.

- Chinese government agencies and state-backed firms are increasingly banning employees from using iPhones and other foreign devices at work, favoring local smartphone brands instead.

- Apple settles its lawsuit against Corellium, a security startup accused of illegally replicating its operating system. No details disclosed.

- Alibaba and JD.com stocks rose due to China's new economic stimulus program and eased regulations, outperforming the market.

- Google is updating Google Maps to store location history data on users' devices, preventing law enforcement from accessing it through geofence warrants.

- Apple settles a class action lawsuit for $25 million over the misleading claims about sharing app subscriptions through Family Sharing.

- Cloudflare's CFO sold 34,329 shares, Gartner's CFO sold 4,387 shares, and SentinelOne's CFO sold 55,983 shares, raising concerns about their respective companies' futures.

- Meta and TikTok have experienced an increase in content removal requests from the Malaysian government in 2023, with Meta restricting over 3,000 pages and profiles. The government claims it wants to curb provocative content on sensitive topics.

- Google has launched Gemini, a language model, to create industry-specific language models. It is also developing an AI assistant called Pixie to compete with OpenAI.

MEDIA

- Piers Morgan denies knowledge of phone hacking after a judge rules he did during his time as the Daily Mirror editor. Prince Harry has been awarded nearly $180,000 in damages after a British court found that U.K. tabloids hacked his cellphone.

- Rudy Giuliani has been ordered to pay $148 million in damages for defaming two Georgia election workers with false claims.

- Activision Blizzard will pay $54 million to settle California's gender discrimination lawsuit, accused of fostering a 'frat boy' culture.

- Sony and Naughty Dog have canceled "The Last of Us Factions" multiplayer game due to resource constraints, focusing on single-player games instead.

- Hong Kong media mogul Jimmy Lai faces trial under Beijing's national security law on charges of sedition and collusion with foreign forces. Critics fear it will be a "show trial" and a test for the city's judicial independence.

CONSUMER

- Major investors, including Pzena Investment Management, Browning West LP, and Turtle Creek Asset Management, support the reinstatement of former Gildan CEO Glenn Chamandy.

- Urban Outfitters had a strong Q3, but its namesake brand saw a 14% sales drop. H&M's Q4 sales dropped 4%, worse than expected.

- H&M is shifting its focus to upmarket shoppers to differentiate itself from fast-fashion giant Shein and capture more aspirational customers.

- Indonesian billionaire Sukanto Tanoto's business group, RGE, is set to acquire Vinda International Holdings for $3.3 billion with support from major shareholders.

- Walmart, Target, and Costco to have limited hours on Christmas Eve and be closed on Christmas Day. Knoxville stores also closing early.

REAL ESTATE

- The US experienced a 12% increase in homelessness, reaching a record high of over 653,000 people, due to rising rents and the end of pandemic assistance.

- Lennar beats Q4 earnings, but Q1 forecast is weaker and gross margin figures are missed. Annual dividend yield is 0.97%.

- UK house prices are predicted to fall by 2-4% in 2024 due to high interest rates, but a partial recovery is expected.

ECONOMIC

- Asian stocks rise as the Dow reaches another record high and the Federal Reserve signals potential rate cuts in 2024.

- The UK's composite PMI hits a six-month high, suggesting the economy is avoiding a recession, while the eurozone faces potential recession with declining business activity. The US experiences steady growth in the service sector but a slump in manufacturing. Germany's economic downturn worsens, pointing to a recession. Japan's manufacturing PMI drops to a three-year low.

- The EU has agreed to open membership talks with Ukraine, despite Hungary's opposition, boosting Ukraine and dealing a blow to Putin.

- Russia's central bank has raised interest rates to 16% to combat high inflation caused by the war with Ukraine.

CRYPTO

- The SEC has rejected Coinbase's request for new cryptocurrency rules, prompting Coinbase to seek a judicial review of the decision.

- Crypto company SafeMoon has filed for Chapter 7 bankruptcy, leading to a significant drop in the value of its SFM token. The company's executives are also facing criminal charges for misusing investor funds, fraud, and money laundering.