The preliminary settlement filed in Oakland, California, federal court stems from a shareholder lawsuit focused on the way Apple relayed information about how iPhone models released in September 2018 were performing in China, one of the company's biggest markets.
Cook signaled that the new iPhones were off to a good start during an investor conference call in early November 2018, according to the complaint.
That reassurance dissolved into a huge letdown on Jan. 2, 2019 when the Cook issued a warning that Apple’s revenue for the justcompleted quarter would fall $9 billion below management’s forecast for the period. What’s more, virtually all of the sales drop was traced to weak demand in China.
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EV MAKER TESLA BREAKS GROUND ON MEGAPACK ENERGY STORAGE BATTERY FACTORY IN SHANGHAI
Electric vehicle maker Tesla has begun construction of a factory in Shanghai to make its Megapack energy storage batteries, Chinese state media reported Thursday.
JUSTICE DEPARTMENT SAYS ILLEGAL MONOPOLY BY TICKETMASTER AND LIVE NATION DRIVES UP PRICES FOR FANS
The Justice Department filed a sweeping antitrust lawsuit against Ticketmaster and parent company Live Nation Entertainment on Thursday, accusing them of running an illegal monopoly over live events in America â squelching competition and driving up prices for fans.
SONY SAYS FOCUS IS ON CREATIVITY, WITH GAMES, MOVIES, MUSIC, SENSORS, IP, AND NOT GADGETS
Japanese electronics and entertainment company Sony says itâs focusing on creativity in movies, animation and video games, rather than old-fashioned gadgetry.
CORN, MILLET AND ... ROOFTOP SOLAR? FARM FAMILY'S NEWEST CROP SHOWS CHINA'S SOLAR ASCENDANCY
Shi Mei and her husband earn a decent enough living by growing corn and millet on their small farm in eastern Chinaâs Shandong province. In 2021, they diversified by investing in solar energy â signing a contract to mount some 40 panels on their roof to feed energy to the grid.
TAIWAN IS SELLING MORE TO THE US THAN CHINA IN MAJOR SHIFT AWAY FROM BEIJING
Whether itâs tapioca balls or computer chips, Taiwan is stretching toward the United States and away from China â the worldâs No. 2 economy that threatens to take the democratically ruled island by force if necessary.
AI COMPANIES MAKE FRESH SAFETY PROMISE AT SEOUL SUMMIT, NATIONS AGREE TO ALIGN WORK ON RISKS
Leading artificial intelligence companies made a fresh pledge at a mini-summit this week to develop AI safely, while world leaders agreed to build a network of publicly backed safety institutes to advance research and testing of the technology.
UN SECURITY COUNCIL REJECTS RUSSIA-BACKED RESOLUTION ON BANNING WEAPONS IN SPACE
The United States said this week that Russia last week launched a satellite that could be part of weaponizing space, a possible future global trend that members of the United Nations Security Council condemned even as they failed to pass a measure against it.
FOR SOME DIGITAL DETOX, LOOK TO THE LATEST IN CRAFT KITS
Digital diversions may have us tethered to tech, but screen fatigue is real.
'IF,' IMPERFECT BUT CHARMING,MAY HAVE US ALL CHECKING UNDER BEDS FOR OUR OLD FRIENDS
How do you make a kidâs movie that appeals not only to the kids, but the adults sitting next to them? Most movies try to achieve this by throwing in a layer of wink-wink pop culture references thatâll earn a few knowing laughs from parents but fly nicely over the heads of the young ones.
NEW CARS IN CALIFORNIA COULD ALERT DRIVERS FOR BREAKING THE SPEED LIMIT
California could eventually join the European Union in requiring all new cars to alert drivers when they break the speed limit, a proposal aimed at reducing traffic deaths that would likely impact motorists across the country should it become law.