Home Commercial trading Is iPhone Demand Really Slowing?, Lyft Freezes Hiring, Biogen’s New Drug Slows Alzheimer’s Disease Progression: Top Financial Media Stories Wednesday, September 28 – Apple (NASDAQ:AAPL), Amazon. com (NASDAQ:AMZN)

Is iPhone Demand Really Slowing?, Lyft Freezes Hiring, Biogen’s New Drug Slows Alzheimer’s Disease Progression: Top Financial Media Stories Wednesday, September 28 – Apple (NASDAQ:AAPL), Amazon. com (NASDAQ:AMZN)

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Bloomberg

Apple pulls back iPhone 14 production ramp-up as demand wanes

  • Apple Inc. AAPL renounces to increase the production of its new iPhone 14 programming in 2022.
  • The Tim CookThe company-led company is giving up on ramping up production of its new smartphones due to falling demand.
  • The Cupertino, Calif.-based company launched the iPhone 14 earlier in September. The device is available in five colors and features, such as satellite emergency SOS.

Reuters

Lyft braces for firmer stance as slowdown issues weigh

  • Lyft Inc. LYFT frozen hiring in the United States until the end of the year.
  • Lyft, which cut 60 jobs in its rental division in July, battled soaring spending as U.S. inflation hit record highs.
  • Several tech companies have downsized in recent months.
  • Lyft posted a record quarter in August. However, Lyft warned that challenges would persist in the third quarter due to high insurance costs, macroeconomic uncertainty and inflation.

Toyota aims to start sales of small electric sedans in China by the end of 2022

  • Toyota Motor Corporation MT is expected to start selling and producing a small electric sedan by the end of 2022.
  • Production is part of Toyota’s collaboration with Chinese battery company BYD Co Ltd BYDDY.
  • The bZ3 sedan, currently slated for sale in China, will be the second model in Toyota’s Beyond Zero (bZ) series of battery electric vehicles (BEVs).
  • The bZ4X sport utility vehicle, the first in the bZ series, has been forced to suspend production after a global recall.

the wall street journal

GM delays back-to-office mandate following employee pressure

  • General Motors Co. GM retracted aspects of its return-to-work plans amid criticism from employees.
  • Last week, a note from an employee of General Motors Co. GM CEO Mary Barra has drafted plans for salaried employees to return to the office three days a week, which is expected to come into effect later this year.
  • This week, a follow-up email postponed the back-to-office policy until the first quarter of next year, saying it was generating “questions, concerns and misconceptions”.
  • The policy will likely stick to the three office day requirement without imposing office working days.
  • GM has promised to solidify its return-to-work plans by the end of October.

FinancialTimes

WhatsApp Boss highlights global repercussions of UK online safety bill

  • Meta Platforms Inc META WhatsApp head has warned the UK that the decision to disable encryption in a new online security bill would threaten the security of government communications and encourage autocratic controls.
  • Will Cathcart said the UK’s ultimate position on the issue would have a global impact as governments around the world follow suit.
  • He pointed to the growing threats of cyberattacks, especially from hostile nation states.

CNBC

Hurricane Ian weighs on Amazon which is already juggling slowdown and workplace issues

  • Amazon.com, Inc. AMZN, Sept. 27, closed sites near Tampa and Orlando, Florida as a precaution before Hurricane Ian. Amazon expects facilities to remain closed until September 30.
  • Walt Disney Co. SAY and Comcast Corporation CMCSA Universal Studios closed its Orlando-based theme parks as it was the first Category 3 hurricane to make landfall in the country in 14 years.
  • Recently, Amazon suspended construction of new warehouses in Spain until 2024 as pandemic-driven online shopping slowed. It has abandoned many existing and planned installations in the United States
  • Amazon has also fought against growing union organizing efforts demanding higher wages and workplace safety.

Benzinga

Apple News readers receive ‘obscene and racist’ push notifications after quick website hack

  • Apple Inc. AAPL News service users were shown two ‘obscene and racist’ push notifications after fast businessa financial publication, was hacked.
  • Apple News said on Twitter: “An incredibly offensive alert has been sent by Fast Company, which has been hacked. Apple News has disabled their channel.”
  • Fast Company tweeted out a statement saying its content management system was hacked on Tuesday night.

Is iPhone demand really slowing down? Apple analyst says this data point proves otherwise

  • Request Apple Inc. AAPL the high-end iPhone 14 remains robust, according to Wolf Fund Gene Munster.
  • His comments come amid concerns over a report that Apple may abandon plans to increase production of the iPhone 14 due to demand not rising in line with expectations.
  • Munster noted iPhone 14 Pro delivery times were four weeks across eight countries, the same as the previous week’s numbers.

Alzheimer’s disease progression slowed by Biogen’s new drug in late-stage study

  • Biogene Inc IBIB and Eisai Co Ltd ESALY announced positive results from a late-stage study on their candidate for the treatment of Alzheimer’s disease on Tuesday evening.
  • Biogen and Eisai said the global confirmatory phase 3 study, “Clarity AD”, of lecanemab met the primary endpoints and all major secondary endpoints with highly statistically significant results.
  • Treatment with lecanemab reduced clinical decline on the global cognitive and functional scale by 27% at 18 months, compared to placebo.

Apple ditches Russia’s largest social media network from the App Store

  • Apple Inc. AAPL deleted VKontaktea popular social networking app in Russia, according to a statement from VK, the company behind the platform.
  • The statement, first noted on The Verge, said some VK apps were blocked by Apple and unavailable for download and update on the App store.
  • The statement indicates that VK applications already installed on smartphones continue to work.

Ford revamps F-Series Super Duty pickups with new design and 5G connectivity: Here’s when it’ll be released

  • Ford Motor Company F unveiled its new 2023 F-Series Super Duty range of pickup trucks and chassis cabs that will meet the needs of essential commercial industries.
  • The 2023 Ford F-Series Super Duty is assembled from Kentucky Truck Plant in Louisville and Ohio Assembly Plant in Lake Avon. The model will hit sales in early 2023 with select features and trim sets available in spring 2023, the company said.

SEC Penalizes 16 Wall Street Firms for Using Personal Devices to Discuss Trades and Clients

  • The Securities and Exchange Commission has charged 15 brokers and an affiliated investment adviser with widespread and longstanding failures to maintain and preserve electronic communications.
  • The companies admitted to the facts described in their respective SEC orders and acknowledged that their conduct violated the record-keeping provisions of federal securities laws.
  • The companies agreed to pay more than $1.1 billion combined penalties.

Harley-Davidson’s electric motorcycle unit completes SPAC merger and begins trading on the NYSE

  • LiveWire, the electric motorcycle division of Harley-Davidson Inc. PORKhas completed its previously announced business combination and began trading today under the new symbol “LVWR” on the NYSE.
  • LiveWire raised approximately $334 million in gross proceeds.
  • The combined public company will operate as LiveWire Group Inc..

UK regulator approves Revolut to offer crypto services, will have to comply with anti-money laundering laws

  • After a long wait, cryptocurrency trading app Revolut has received approval from the UK’s Financial Conduct Authority (FCA) to provide services in the country.
  • Valued at $33 billion, the digital banking service was added to the FCA’s register on Monday.
  • Revolut previously provided crypto buying, selling and trading in the UK under the FCA’s Temporary Registration Scheme, or TRR, which was established to allow businesses to continue operating during the review. of their requests.

Oil giant Shell signs its first electricity contract in Africa, with the acquisition of a Nigerian solar supplier

  • Shell plc SHEL made its first acquisition in the power sector in Africa by buying a renewable energy supplier, Daystar Power.
  • Daystar operates in Nigeria, Ghana and three other West African countries. It provides off-grid power to commercial and industrial customers, offering solar and hybrid power solutions with battery storage.

Tyson Foods names chairman’s son as CFO

  • Tyson Foods Inc TSN named John R.Tyson as CFO, effective October 2, 2022.
  • Tyson is the son of the company’s chairman of the board, John H. Tyson.
  • Tyson currently serves as executive vice president of strategy and chief sustainability officer for the company.

Hertz and BP join forces to accelerate electric vehicle charging network

  • Hertz Global Holdings Inc. HTZ and BP S.A. PB signed a memorandum of understanding (MOU) for the development of a national network of EV charging stations.
  • The stations will be powered by bp pulse, BP’s global electrification and charging solutions brand.
  • The agreement also includes the management of Hertz’s charging infrastructure by bp pulse and the customization of its Omega software for fast and efficient charging of Hertz’s fleet of electric rental cars.