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☆ Zhongnanhai: The scenic garden that became China’s secretive seat of power
▼ + stars: | 2024-05-25 | by ( Jonathan Chatwin | ) edition.cnn.com time to read: +18 min

As the seat of power, Zhongnanhai is often thought of as China’s equivalent to the White House, or the Kremlin. Architectural changesThere have been serious revisions to the architecture of Zhongnanhai since the end of imperial rule in 1912. Having re-established Zhongnanhai as a center of political power in the new China, Mao set about rebuilding the compound according to his tastes. “It was here,” noted Aldrich, “with the background trappings of a scholar, that he met Nixon and Kissinger in 1972.”Most subsequent leaders have preferred to keep a house outside the Zhongnanhai compound. However, the compound hasn’t always been so forbidden for the masses following the collapse of China’s imperial dynasty.

Persons: Jonathan Chatwin, “, Deng Xiaoping, Leung Chun, Xi Jinping, Simon Song, Xi Jinping’s, Ming, Geremie Barmé, Qianlong, Feng Li, ” Linda Jaivin, ”, Dowager Cixi, Zhongnanhai, Cixi, Dowager, M, Aldrich, Mao Zedong, ” Aldrich, China’s, Yuan Shikai, Yuan Shikai ‘, William Lewisohn, Xinhuamen, William Cooper, —, Qianlong Emperor, Yuan, Invincible Mao, — Mao, Kangxi, Mao, Zhou Enlai, Chen Yi, Zhang Wentian, Nikita Khrushchev, Khrushchev, Nixon, Kissinger, Hu Jintao, Jiang Zemin, Newscom Aldrich, Mao’s, Li Zhisui, Xi, Chicago's Walter, Hu Yaobang, Gong, “ Heck Organizations: CNN, Bell, Communist Party, CCP, White, Hong, China Morning, University of Bristol Library, Great Communist Party of China, ”, Shuangqing Villa, Alamy, State Council, China’s Politburo, Huairen, Chicago's Walter Payton College Preparatory, New York Times, Zhongnanhai, Bloomberg Locations: Modern China, Prospect, Tiananmen, Hong Kong, Zhongnanhai, City, China, Beijing, “, People’s Republic, New China, Arlington, Peking, Xinjiang, Russian, Beihai, Beijing’s, Huairen, Qinzheng Hall

☆ Op-ed: How activist investors are deactivating with proxy battle losses
▼ + stars: | 2024-05-23 | by ( Jeffrey Sonnenfeld | Steven Tian | ) www.cnbc.com time to read: +7 min

Whether today's activist investors contribute any genuine economic value is open for debate. As this year's proxy season draws to a close, defeat after defeat for activist investors in proxy fights this year – most prominently at Disney and Norfolk Southern – raises the question: Are activist investors increasingly getting de-activated, losing their credibility and power? These self-styled "activist investors" are distinct from the original activists who helped catalyze needed governance reforms two decades back. Many of today's activist investors are a far cry from the original, heroic crusaders for shareholder value who pioneered the activism space decades ago. However, given the failing financial performance of many of today's activist investors, their losing streak in proxy fights and increasing public rejection of their bullying tactics, the credibility and value of activist investors writ large is increasingly imperiled.

Persons: Nelson Peltz's, Ed Garden, Ralph Whitworth, John Biggs of TIAA, John Bogle of, Ira Millstein, Weil, Nell Minow, Bob Monks, Harvard's Stephen Davis, Carl Icahn's, Aubrey McClendon, –, Bill Cohan, Jamie Dimon, Glass Lewis, resoundingly, Mason Morfit's ValueAct, Jeffrey Sonnenfeld, Lester, Steven Tian Organizations: CNBC, Salesforce, Dow Jones, Disney, Norfolk Southern, Relational Investors, John Bogle of Vanguard, Services, Chesapeake, Norfolk, JetBlue, Elanco, of Institutional Investors, United Shareholders Association, Responsibility Research, ISS, Lester Crown, Management, Yale University, Yale's, Institute Locations: Norfolk Southern, greenmailers, America

☆ Apple desperately needs its Next Big Thing
▼ + stars: | 2024-05-14 | by ( Paris Marx | ) www.businessinsider.com time to read: +10 min

But after a decade of doing that, iPhone sales are slowing, revenue is down, and the company, again, needs to find its next big thing. Apple's own outlook suggests poor iPhone sales will persist, especially as sales in China rapidly decline. The drawbacks of Cook's divestment from product design and development are now becoming clearer. Both the EU and the US cases would also make some people more likely to switch to a cheaper phone, which would threaten iPhone sales even further. The drawbacks of Cook's divestment from product design and development are now becoming clearer.

Persons: Steve Jobs, Jobs, Apple, Tim Cook, Cook, haven't, Steve, Tripp Mickle, Jony Ive, we've, wouldn't, Let's, aren't, Peter Kafka Organizations: Apple, Apple Watch, IBM, Google, EU, Bloomberg, Nasdaq, Business Locations: China, Asia, India, Indonesia

☆ The streaming future Disney promised is finally here as cable TV decays
▼ + stars: | 2024-05-07 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Last year in the second quarter, Disney+ and Hulu lost $587 million. The thesis among all major legacy media companies has been that streaming will eventually take over for cable TV as the primary money-making engine. It's not just that Disney nearly made money in streaming — it's that the company's traditional linear TV results were awful. Next year, Disney will launch its flagship ESPN streaming service, which will allow consumers to subscribe to ESPN without cable at all. Looking at Disney's results in the second quarter, it's clear why the company has finally pulled the ripcord on ESPN.

Persons: Bob Iger, It's, Disney Organizations: Walt Disney Company, Disney, Hulu, ESPN, Paramount Global, Warner Bros . Discovery, Comcast, Fox, College Football, ABC, Disney Channel, FX, Geographic, Disney Junior Locations: Beverly Hills , California, U.S

☆ Netflix is trying to prove to the world that it’s all grown up
▼ + stars: | 2024-04-19 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

New York CNN —In the early stages of life, a key metric is growth. Netflix is trying to persuade Wall Street that it is now all grown up. time spent) as our best proxy for customer satisfaction,” Netflix underscored in its letter to shareholders. Netflix forecasted its subscriber growth to be lower in quarter two, chalking it up to “typical seasonality.” That led the stock to slide nearly 5% in after-hours trading. Whatever the cause, the stock sliding on the less-than-ideal outlook is a prime example of why Netflix wants Wall Street to stop focusing on its subscriber numbers.

Persons: Wall, It’s, “ We’re, Nielsen, won’t Organizations: New York CNN, Netflix Locations: New York

☆ Millennials aren't giving up on having a home they love
▼ + stars: | 2024-04-13 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +5 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . From the home shortage to having higher debt compared to their parents during the same stage of life, it hasn't been easy. AdvertisementBut millennials, the eldest of the group being in their early 40s, aren't giving up. Still, while some millennials are spending seven figures buying and renovating their homes, others are giving up on homeownership completely. Why Masters merch is so coveted.

Persons: —, let's, Alyssa Powell, millennials, homeownership, they're, Brigette Muller, Kinga Krzeminska, you've, Mikel Jaso, It's, Christian Petersen, merch, Rob Hobson, Rob Hobson Skip, Hobson, bagels, Tyler Le, Patti Stanger, Robert Downey Jr, Brandy Hellville, Kate Taylor, Joi, Marie McKenzie, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan Organizations: Business, Service, HGTV, EU, Getty Locations: Brooklyn, Italy, Swiss, New York

☆ The investment case for Meta Platforms gets stronger — and our price target is changing, too
▼ + stars: | 2024-04-04 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

"In fact, we now estimate that in 2024 Meta's ad business could outgrow Amazon's for the first time since 2015," the firm added. META 1Y mountain Shares of Meta Platforms over the past 12 months. Jefferies' bullish outlook goes straight to the heart of our investment case, which Jim Cramer reiterated last week during the March Monthly Meeting. All of this also jives with our view on Meta, as Jim laid out during the Monthly Meeting. Put it all together, and we're aligned with Jefferies on where Meta's stock can go from here.

Persons: Jefferies, outgrow Amazon's, Jim Cramer, that's, Jim, Meta, —, TikTok, Mark Zuckerberg, there's, Zuckerberg, Jim Cramer's, David Paul Morris Organizations: Google, Meta, Facebook, Jefferies, CNBC, Bloomberg, Getty Locations: U.S, Menlo Park , California

☆ Federal regulators are wielding a classic Warren Buffett concept to go after Apple — his biggest stock bet
▼ + stars: | 2024-03-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Federal regulators used the word "moat" eight times in their civil antitrust complain to describe the defenses that Apple sets up to keep competitors at bay. AdvertisementCastles and moatsBuffett popularized the concept of a company having a "moat" around it that protects it from rivals. The dynamics of capitalism guarantee that competitors will repeatedly assault any business 'castle' that is earning high returns. AdvertisementThe Department of Justice has added insult to injury by not only targeting Buffett's biggest stock bet, but also wielding the investor's moat metaphor against him, at least indirectly.

Persons: —, cheekily, Warren Buffett, Buffett, Berkshire Hathaway, you've, Elon Musk, he's, Charlie Munger, Apple, He's, Tim Cook, they're Organizations: Service, Justice, Apple, Business, Berkshire, Coke, Gillette, Costco, Cola, American, Regulators, of Justice Locations: Berkshire, Apple, Buffett's, Berkshire's

☆ How your iPhone could get better if Apple loses its big legal battle
▼ + stars: | 2024-03-23 | by ( Jordan Hart | ) www.businessinsider.com time to read: +9 min

More smartwatch optionsA Google Pixel Watch and the iPhone don't play as nicely together as an Apple Watch and the iPhone. GoogleIf the Apple Watch isn't your cup of tea, a court loss for the company could make using an alternative watch with the iPhone more seamless. Prosecutors said the Apple Watch depends too much on the iPhone while other smartwatches aren't nearly as compatible with the iOS system. iOS users might have been overcharged for music streaming subscriptions due to the fees placed on app developers by Apple, regulators said. "This lawsuit threatens who we are and the principles that set Apple products apart in fiercely competitive markets," Apple told BI in a statement.

Persons: —, Apple's, you'll, Apple, Jonathan Kanter, Kanter, Riley Testut, Jamie Court, you've, they've, Testut Organizations: Apple, DOJ, Service, US Department of Justice, CNBC, EU's, EU, Epic, Consumer, LA Times, Watch, Apple Watch, Google, Prosecutors, European Commission Locations: EU

The overhaul rolling out Thursday only in the Europe represents the biggest changes to the iPhone's App Store since Apple introduced the concept in 2008. Among other things, people in Europe can download iPhone apps from stores that aren't operated by Apple and are getting alternative ways to pay for in-app transactions. That came during testimony in a May 2021 trial resulting in a U.S. judge ruling that the App Store isn't a monopoly. In that decision, the judge required Apple to begin allowing links to outside payment options inside iPhone apps in the U.S. Apple still doesn't permit alternative iPhone app stores in the U.S. or more than 100 other countries outside the EU.

Persons: Apple, Tim Sweeney, Steve Jobs, Epic's Sweeney, ” Apple Organizations: Apple, Union, Digital Markets, Spotify, Epic, European Commission, U.S, Regulators, Google, Facebook, Apple Watch, Supreme, EU Locations: Europe, Apple’s, Sweden, U.S, It's

☆ Tour this $24 million mansion in Delray Beach, Florida, where home prices have doubled
▼ + stars: | 2024-03-04 | by ( Ray Parisi | ) www.cnbc.com time to read: +7 min

watch nowThe owners of this Florida mansion are asking for $24 million for their almost 11,500 square-foot residence inside one of the most expensive gated communities in Delray Beach, Florida. Over the past five years, the Delray Beach market has more than flourished — it has skyrocketed. "But Delray Beach is, without question, one of the region's premier luxury residential markets." An aerial view of the Rockybrook Estate in Delray Beach, Florida. Here's a look inside the 6 bedroom, 10 bathroom Villa Ananda:Aerial view of 9303 Hawk Shadow Lane in Delray Beach.

Persons: Villa Ananda, Daniel Petroni, Senada Adzem, Villa, Adzem, Steve Cohen, Khalil Mack, Gerry Smith, Romeo Santos, Antonio Neri, Neri, Rockybrook, Douglas Elliman, Krent Wieland, Inson Dubois, Liaigre Organizations: CNBC, Miami, Palm, National Football League, Hewlett Packard Enterprise, Adzem, HP Enterprise Locations: Florida, Delray Beach , Florida, Delray Beach, Manhattan , New York, Miami, Delray, Stone, South Florida, Italy's, Adzem

☆ I'm 85 and still do strength training 3 times a week. Here are my top tips for longevity.
▼ + stars: | 2024-03-02 | by ( Melissa Noble | ) www.businessinsider.com time to read: +6 min

Frank Noble is 85 years old and his routine that includes regular exercise, gardening, and golfing. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThis as-told-to essay is based on a conversation with Frank Noble, an 85-year-old from Porepunkah in Victoria, Australia. I'd probably spend six hours a day on average in the garden three or four days a week. Frank Noble grows his own vegetables.

Persons: Frank Noble, Noble, —, I've, I'm, I'd, It's, Betty, she's, There's Organizations: Service, Victorian School of Forestry, Forests Commission, National Parks, Central Locations: Porepunkah, Victoria, Australia, Creswick, Forests, Forests Commission Victoria, Central Gippsland

☆ A bizarre Willy Wonka-themed children's event became a viral disaster. Here's everything that went wrong.
▼ + stars: | 2024-03-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

A disastrous Willy Wonka-themed children's event went viral for all the wrong reasons. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Instead, the bizarre Willy Wonka-themed event in Glasgow, Scotland, featured a sparse warehouse filled with low-budget props and drew comparisons with the similarly ill-fated Fyre Festival. Videos of customers confronting event organizers have since been shared on social media. "I ended up playing Willy Wonka for three and a half hours straight," Paul Connell told The Independent.

Persons: Willy Wonka, Here's, —, Stuart Sinclair, Sinclair, Paul Connell, Wonka, Connell, BI's Katie Notopoulos Organizations: Service, Illuminati, The Daily Mail Locations: Glasgow, Scotland

☆ Memes about a disastrous Willy Wonka-themed event are taking over the internet
▼ + stars: | 2024-02-29 | by ( Olivia Singh | ) www.businessinsider.com time to read: +8 min

AdvertisementUnsuspecting children attended a Willy Wonka-inspired event in Glasglow, Scotland with high hopes, but found themselves in a world of pure horror. Paul Connell, an actor hired to play Willy Wonka at the event, told The Independent that the script supplied was "15 pages of AI-generated gibberish." Since photos and videos surfaced online, X (formerly known as Twitter) has become inundated with memes about the catastrophic event. AdvertisementThe interactive lab area drew comparisons to a meth lab“Is that the-”“The meth lab from the Glasgow Willy Wonka Experience? This photo from the Willy wonka experience is single handedly the photo of the year.

Persons: Willy Wonka, —, it's, Roald Dahl, Paul Connell, Kirsty Paterson, Glasgow Willy Wonka, k9jdz3CWH0 — Adam, @adamgreattweet, Loompa, Hugh Grant, Willy wonka, twitter.com/tmc, kes, Kate Middl, aga, witt, r.com, ady, lanning their H, dre, anne Organizations: Service, Warner Bros, Independent, Glasgow, nk Locations: Glasgow, Glasglow, Scotland, erie, ves

☆ Willy Wonka-inspired experience sparks outrage and online mockery after police called to event
▼ + stars: | 2024-02-28 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

People there became so angry on Saturday that the police were called, Police Scotland confirmed to CNN, the event was canceled, and the story went viral on social media. “There was a crowd of people outside all furious,” Paul Connell, one of the actors hired to perform at the event told CNN on Wednesday. “I saw people shouting, the people running the event were crying … It was absolute chaos. Jack Proctor and his family were among those attending the experience, and they arrived once the event had been open for a couple of hours, he told CNN on Wednesday. “We were met by groups of families leaving the event, looking utterly bewildered,” he said.

Persons: Willy Wonka, ” Paul Connell, “, Jack Proctor, Connell, ”, Proctor, ” Proctor, they’re, ” Connell Organizations: CNN — Families, Police Scotland, CNN, Facebook, ” CNN Locations: Glasgow, Scotland, ”

☆ A Willy Wonka-style 'Chocolate Experience' advertised with AI images turned out to be an 'absolute shambles'
▼ + stars: | 2024-02-27 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Read previewA "Willy's Chocolate Experience" last weekend turned out to be a whole lot less satisfying than people had hoped. This story is available exclusively to Business Insider subscribers. AdvertisementStuart Sinclair, who took his children to the event, called it an "absolute shambles." Several of the images featured on the website have tell-tale signs of AI art, but Business Insider was unable to independently confirm if the images were generated with AI. Stuart Sinclair called the event an "absolute shambles."

Persons: —, Stuart Sinclair, Sinclair, Willy Wonka, Crave, elly Organizations: Service, Illuminati, Business, Wonka, Warner Bros, Police Scotland, Sky News, Police Locations: Glasgow, Scotland, ried

☆ Risking Arrest, Russians Mourn Navalny in Small Acts of Protest
▼ + stars: | 2024-02-17 | by ( Valerie Hopkins | ) www.nytimes.com time to read: +1 min

The flowers, wrapped in paper to shield them from the icy wind, were not only a symbol of mourning. They also served as a form of protest in a country where even the mildest dissent can risk detention. “He didn’t die, he was killed,” said Alla, 75, a pensioner who declined to give her last name because of possible repercussions. “Theoretically, we knew that they wanted to destroy him,” said her friend Elena, 77, whose arm was interlaced with Alla’s. “But when it happened it was such a shock, the senseless brutality of it, just senseless.” She found out what had happened when her daughter and granddaughter called her in tears to share the news.

Persons: Aleksei A, Stalin, ”, Alla, Elena Locations: Russian

☆ The 2024 Met Gala theme has been announced — along with four superstar co-chairs
▼ + stars: | 2024-02-15 | by ( Leah Dolan | ) edition.cnn.com time to read: +3 min

CNN —Fashion’s biggest night of the year is just around the corner, and the Met Gala red carpet theme has finally been announced — along with superstars Zendaya, Jennifer Lopez, Bad Bunny and Chris Hemsworth as this year’s co-chairs. Florals are sure to abound on this year’s red carpet thanks to the theme “The Garden of Time,” but the novel it takes inspiration from has darker undertones. (Pictured above: Rihanna at the 2023 Met Gala.) “One thing I hope this show will activate is that sensorial appreciation of fashion.”The year’s co-chairs — alongside Vogue editor-in-chief, Anna Wintour — include Met Gala mainstays and debuts. The Met Gala theme often vacillates between straightforward retrospectives (such as the event’s 1996 homage to Christian Dior, and the 1997 theme dedicated to Gianni Versace) and more artful, subjective prompts.

Persons: CNN —, Zendaya, Jennifer Lopez, Bad Bunny, Chris Hemsworth, J, Ballard, Princess Aurora, Rihanna, Dimitrios Kambouris, ” Andrew Bolton, Wendy Yu, Anna Wintour —, Hemsworth, Loewe, Jonathan Anderson, Shou Zi Chew, Karl Lagerfeld’s, Christian Dior, Gianni Versace, Count Axel Organizations: CNN, New, Metropolitan Museum of Art, Vogue Locations: British

☆ Mark Zuckerberg says Meta’s Quest 3 is the clear winner compared to Apple’s Vision Pro
▼ + stars: | 2024-02-14 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

The Meta CEO on Monday posted a video review of Apple’s Vision Pro, the new rival mixed reality headset to Meta’s Quest 3. “Alright, guys, so, I finally tried Apple’s Vision Pro,” Zuckerberg begins in the video, which was posted to his Instagram. Zuckerberg also throws several other jabs at the Vision Pro in an effort to talk up his own product. Meta also has a more advanced, and more expensive, headset option called Meta Quest Pro. At least for now, most consumers probably aren’t going to buy either the Quest 3 or the Vision Pro.

Persons: New York CNN —, Mark Zuckerberg, ” Zuckerberg, it’s, Apple, Zuckerberg, Meta, metaverse, Meta's, Josh Edelson, it’s “ Organizations: New, New York CNN, Vision, Apple, Meta, Getty, Quest Locations: New York, AFP

☆ How satellite connectivity startup Skylo hooked backers such as Intel, BMW and Samsung to raise $37 million
▼ + stars: | 2024-02-13 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

Silicon Valley space startup Skylo Technologies landed funding from the corporate venture arms of Intel, BMW and Samsung, as the company aims to bridge the gap between satellite and terrestrial communications. Skylo raised $37 million through an equity round, the company told CNBC, that was led by Intel Capital and Innovation Endeavors and joined by BMW i Ventures, Next47, Samsung Catalyst Fund and Seraphim Space. We just don't want extra hardware, because that adds complexity," Skylo CEO Parth Trivedi told CNBC. That way, Trivedi sees Skylo operating as a "roaming partner" to existing cellular networks, effectively rubber-stamping and linking devices made by other connectivity players. "You're going to find that this approach is very, very scalable, because the carriers don't have to change behavior, the users don't have to change behavior, the satellite operators don't have to change behavior, and regulators don't have to change behavior," Trivedi said.

Persons: Skylo, Parth Trivedi, Trivedi, Dave Johnson, They've, Johnson Organizations: Technologies, Intel, BMW, Samsung, CNBC, Intel Capital, Innovation, BMW i Ventures, Next47, Samsung Catalyst Fund, SoftBank, Qualcomm, MediaTek, Sony Locations: Mountain View , California

☆ Bluesky is finally open to everyone. But will anyone come? We ask its CEO.
▼ + stars: | 2024-02-06 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +5 min

Starting Tuesday, Bluesky is finally out of "beta" and will be open to anyone — no codes needed. Like Mastodon and Threads, Bluesky is an experiment in a new, "decentralized" way of running a social app, where users can create their own communities and moderation rules. AdvertisementJack Dorsey was involved in creating Bluesky while he was still at Twitter and now sits on its board. Business Insider spoke with Jay Graber, the CEO of Bluesky, about the app — which she said now has 3 million users. If you've never modified anything else, that's like a normal social app experience.

Persons: —, Bluesky, Joe Biden couldn't, Jack Dorsey, Meta, Jay Graber, We've, we've, you've Organizations: Service, Twitter, Meta, Business

☆ The quiet American: US reveals pavilion design for World Expo 2025
▼ + stars: | 2024-01-31 | by ( Christy Choi | ) edition.cnn.com time to read: +5 min

CNN —At next year’s World Expo, a grand carnival showcasing different nations’ achievements, the US is planning something unusually quiet. Courtesy Trahan ArchitectsWorld Expos, or World’s Fairs as some are known, have celebrated some of the major inventions of their time, including stereoscopic photography, vulcanized rubber, the zipper, the internal combustion engine and IMAX. Courtesy Trahan ArchitectsTrahan’s design features an elongated outdoor space sandwiched between two triangular buildings. Courtesy Trahan ArchitectsBut as well as representing American interests overseas, the pavilion design also draws on the nature, culture and history of the Expo’s host country. Expo 2025, which marks the second time Osaka has hosted the event, is expected to welcome almost 30 million visitors.

Persons: ”, Trey Trahan, Thomas Edison, Nikola Tesla, George Westinghouse, Rahm Emanuel, Biden, Donald Trump, Trahan, “ wabi Organizations: CNN, Fairs, Trahan Architects, Architects World Expos, Chicago World’s, Expos, US State Department, ES Global, Imagination, Trahan Locations: Osaka, Japan, Tokyo, Chicago, Seattle, Philadelphia, Paris, —, Los Angeles, New York, New Orleans, United States

☆ CNBC Daily Open: What recession? The U.S. economy kept growing
▼ + stars: | 2024-01-26 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden speaks with workers while visiting CS Wind, the largest wind tower manufacturer in the world, in Pueblo, Colorado, U.S., November 29, 2023. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Apple opens iPhone store in EuropeApple plans to open up its iPhone App Store in Europe to competitors. Some investors have been wary since Beijing has been struggling with a property debt crisis that has triggered financial risks across the broader economy.

Persons: Joe Biden, Tesla, Lagarde, Christine Lagarde Organizations: CS Wind, CNBC, U.S, Dow Jones, Nasdaq, Apple, Europe Apple, Digital Markets, European Central Bank, Pro Locations: Pueblo , Colorado, U.S, Tesla, Europe, China, Beijing

☆ Apple announces sweeping changes for apps in Europe, including allowing third-party app stores for the first time
▼ + stars: | 2024-01-25 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

CNN —Apple announced sweeping new changes to its handling of apps in Europe on Thursday, including plans to allow third-party app stores on iPhones and iPads for the first time in company history and significant cuts to Apple’s app store fees. The unprecedented updates, which are a response to new European regulations set to take effect in March, reflect some of the most consequential changes to Apple’s app business since the debut of its proprietary app store 15 years ago, which forms the bedrock of its walled garden ecosystem. And for developers, other changes to Apple’s terms may give them more flexibility in how they market themselves to users. Under the changes, Apple said it will allow users to download third-party app stores onto their devices from websites outside of Apple’s own ecosystem. The app stores, Apple said, will exist as standalone apps on an iOS device with the authority to install other apps offered by those third-party marketplaces.

Persons: CNN —, Apple Organizations: CNN, CNN — Apple, Union, Apple Locations: Europe, Union, Apple’s

☆ Apple opens up iPhone app store in Europe, a major crack in its 'walled garden'
▼ + stars: | 2024-01-25 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Apple announced plans to open up its iPhone App Store in Europe to competitors on Thursday, a move that opens up cracks in the company's famous "walled garden," with which it controls app distribution on its devices. Apple said on Thursday that it believes the new regulation puts its users at risk for scams, fraud and abuse, because apps that don't go through Apple's App Store aren't reviewed for content and could contain malware. Developers in general are likely to celebrate, as many have chafed for years over Apple's fees and rigorous App Review program that frequently rejects app updates. The changes are restricted to Europe and accounts that are registered in the E.U., rather than changes to the way iPhone app distribution works in the U.S. "Developers can now learn about the new tools and terms available for alternative app distribution and alternative payment processing, new capabilities for alternative browser engines and contactless payments, and more," said Apple App Store boss Phil Schiller in a statement.

Persons: Tim Cook, Apple, Phil Schiller Organizations: Apple, National Committee, China Relations, China Business Council, Economic Cooperation, APEC, Digital Markets, Spotify, Microsoft, U.S Locations: Asia, San Francisco , California, Europe, U.S

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