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AppleMagazine|#586APPLE HOMEPOD 2: INTRODUCING THE NEXT GENERATION OF SMART SPEAKERSApple has unveiled the highly-anticipated second generation of the HomePod, a smart speaker that boasts next-level acoustics and an iconic design. Packed with Apple innovations and Siri intelligence, the HomePod 2 offers a powerful tool for entertainment and everyday tasks.The new device features advanced computational audio for a revolutionary listening experience, including support for immersive Spatial Audio tracks. Users can access a vast catalog of over 100 million songs with Apple Music and create a captivating home theater experience with Apple TV 4K. With Siri, users can search for music by artist, song, lyrics, decade, genre, mood, or activity.The HomePod 2 also offers convenient new ways to manage everyday tasks and control the smart home. Users can now create smart home automations using Siri, get notified when a smoke or…2 min
AppleMagazine|#586FASTEST CORVETTE EVER IS ALL-WHEEL-DRIVE GAS-ELECTRIC HYBRIDThe fastest Corvette ever made comes out later this year, and it’s not powered solely by a howling V8.The E-Ray is a gas electric hybrid, the first all-wheel-drive version of Chevrolet’s storied sports car with the front wheels running on an electric motor the traditional 6.2-liter V8 powering the back.Aimed at affluent buyers who want new technology in the top-line Chevrolet sports car, the $104,000 E-Ray jerks your head back as it goes from zero to 60 mph (97 kilometers per hour) in 2.5 seconds. General Motors says it can cover a quarter mile in 10.5 seconds.Although those figures are slightly faster than its race track-ready brothers, the Z06 and Z07, it’s civil enough for the daily commute even though its rear tires are almost wide enough to compete in…3 min
AppleMagazine|#586APPLE CEO TIM COOK TO TAKE MORE THAN 40% PAY CUTApple CEO Tim Cook will take a more than 40% pay cut this year from a year earlier as the company adjusts how it calculates his compensation partly based on a recommendation from Cook himself.Apple Inc. said in a regulatory filing that Cook’s target total compensation is $49 million for 2023, with a $3 million salary, $6 million cash incentive and $40 million in equity awards.Last March the Cupertino, California, company conducted an advisory shareholder vote on executive pay with 6.21 billion shares voting in favor of the executive pay package and 3.44 billion against. There were also abstentions and broker non-votes.Apple said its compensation committee took into account shareholder feedback, the company’s performance and a recommendation from Cook, who was promoted to CEO in 2011, to adjust his compensation…1 min
AppleMagazine|#586RETAIL GROUP: HOLIDAY SALES UP SLOWER-THAN-EXPECTED 5.3%Sales for the holiday 2022 season slowed more than expected from its blistering pace a year ago as higher borrowing costs and higher inflation made shoppers pull back, according to the nation’s largest retail trade group.The National Retail Federation said this week that holiday sales for the combined November and December period rose 5.3% to $936.3 billion. That was a slower pace than the 13.5% increase a year earlier when shoppers began spending the money they had saved during the early part of the pandemic.The growth was also below the trade group’s forecast for sales to be up anywhere from 6% to 8%.Holiday retail sales have averaged an increase of 4.9% over the past 10 years, with pandemic spending in recent years accounting for considerable gains. The holiday sales figure…2 min
AppleMagazine|#586CHINA’S NETEASE CRITICIZES BLIZZARD OFFER AS UNEQUAL, UNFAIRChina games company NetEase Inc. has rejected a proposal from World of Warcraft creator Activision Blizzard to temporarily extend its partnership while the U.S. company seeks a new partner, calling the proposed terms “unequal and unfair” in an escalating public spat.Blizzard said in November that its 14-year partnership with NetEase was set to end, spelling the imminent withdrawal of games such as World of Warcraft, the Starcraft series, and Overwatch from the world’s biggest games market as of Jan. 23.In a statement, NetEase said that Blizzard proposed to extend the partnership for six months under existing terms while it continued seeking for a new partner in China.“We believe that Blizzard’s proposal ... is rude, inappropriate, and not in line with business logic,” NetEase said.The Chinese company criticized Blizzard for its…2 min
AppleMagazine|#586EU OUTLINES PLAN FOR CLEAN TECH FUTURE BOOSTED BY SUBSIDIESThe European Union pushed forward with a major clean tech industrial plan which not only should keep the continent in the vanguard of plotting a greener future but also guarantee its economic survival as it faces challenges from China and the United States.European Commission President Ursula von der Leyen presented the outlines for her “Green Deal Industrial Plan” that will make it much easier to push through subsidies for green industries and pool EU-wide projects that are boosted with major funding as the EU pursues the goal of being climate neutral by 2050.“We know that we have a small window to invest in clean tech and innovation to gain leadership before the fossil fuel economy becomes obsolete,” von der Leyen said.At the same time in Germany, climate protests resumed Tuesday…3 min
AppleMagazine|#586ELON MUSK’S NEXT DRAMA: A TRIAL OVER HIS TWEETS ABOUT TESLAWhile still grappling with the fallout from a company he did take private, beleaguered billionaire Elon Musk is now facing a trial over a company he didn’t.Long before Musk purchased Twitter for $44 billion in October, he had set his sights on Tesla, the electric automaker where he continues to serve as CEO and from which he derives most of his wealth and fame.Musk claimed in a August 7, 2018 tweet that he had lined up the financing to pay for a $72 billion buyout of Tesla, which he then amplified with a follow-up statement that made a deal seem imminent.But the buyout never materialized and now Musk will have to explain his actions under oath in a federal court in San Francisco. The trial was triggered by a class-action…3 min
AppleMagazine|#586TESLA CUTS VEHICLE PRICES IN BID TO BOOST FLAGGING DEMANDWith its sales slowing and its stock price tumbling, Tesla Inc. slashed prices dramatically on several versions of its electric vehicles, making some of its models eligible for a new federal tax credit that could help spur buyer interest.The company dropped prices nearly 20% in the United States on some versions of the Model Y SUV, its top seller. That cut will make more versions of the Model Y eligible for a $7,500 electric-vehicle tax credit, which will be available through March. Tesla also reduced the base price of the Model 3, its least expensive model, by about 6%.Far from pleasing investors, the sharp price cuts sent Tesla shares down nearly 2% immediately after the announcement. Since the start of last year, the stock has plummeted more than 65%. Many…4 min
AppleMagazine|#586JOB CUTS IN TECH SECTOR SPREAD, MICROSOFT LAYS OFF 10,000Microsoft is cutting 10,000 workers, almost 5% of its workforce, joining other tech companies that have scaled back their pandemic-era expansions.The company said in a regulatory filing Wednesday that the layoffs were a response to “macroeconomic conditions and changing customer priorities.”The company said it will also be making changes to its hardware portfolio and consolidating its leased office locations.Microsoft is cutting far fewer jobs than it had added during the COVID-19 pandemic as it responded to a boom in demand for its workplace software and cloud computing services with so many people working and studying from home.Microsoft’s workforce expanded by about 36% in the two fiscal years following the emergence of the pandemic, growing from 163,000 workers at the end of June 2020, to 221,000 in June 2022.The layoffs represent…2 min
AppleMagazine|#586EU INAUGURATES FIRST MAINLAND SATELLITE LAUNCH PORTThe European Union wants to bolster its capacity to launch small satellites into space with a new launchpad in Arctic Sweden.European officials and Swedish King Carl XVI Gustaf inaugurated the EU’s first mainland orbital launch complex during a visit to Sweden by members of the European Commission, which is the 27-nation bloc’s executive arm.The new facility at Esrange Space Center near the city of Kiruna should complement the EU’s current launching capabilities in French Guiana.European Commission President Ursula von der Leyen said small satellites are crucial to tracking natural disasters in real time and, in the light of Russia’s war in Ukraine, to help guarantee global security.“Today, we know that the brave Ukrainian forces effectively use small satellites to track the movements of Russian troops,” she said.The first satellite launch…1 min
AppleMagazine|#586TOYOTA PUSHES ZERO-EMISSION GOALS BY CONVERTING OLD MODELSTo accelerate the global move toward sustainable vehicles, Toyota is suggesting simply replacing the inner workings of vehicles already on the roads with cleaner technology like fuel cells and electric motors.“I don’t want to leave any car lover behind,” Chief Executive Akio Toyoda said, appearing on the stage at the Tokyo Auto Salon, an industry event similar to the world’s auto shows.The message was clear: Toyota Motor Corp. wants the world to know it hasn’t fallen behind in electric vehicles, as some detractors have implied.Japan’s top automaker, behind the Lexus luxury brands and the Prius hybrid, is highlighting its clout: It has all the technology, engineering, financial reserves and industry experience needed to remain a powerful competitor in green vehicles.Toyoda told reporters it would take a long time for all…2 min
AppleMagazine|#586APPLE PARK IN NUMBERS: A LOOK AT THE ICONIC CAMPUSApple Park is designed to be both functional and environmentally friendly. Let’s take a closer look at the various aspects of the building, including its size, cost, environmental impact, and the various buildings and facilities on the campus.The campus covers an area of 175 acres, making it one of the largest corporate campuses. The main building, known as the “spaceship,” is a circular structure that measures 2.8 million square feet. The area also includes a 1,000-seat auditorium, a 100,000 square-foot fitness center, and a 120,000 square-foot research and development facility. The cost of building Apple Park was a staggering $5 billion, making it one of the most expensive buildings in the world. The cost included not just the construction of the building itself but also the cost of the land,…2 min
AppleMagazine|#586GOLDMAN, M. STANLEY PROFITS PLUNGE AS DEALMAKING DRIES UPThe profits for two iconic Wall Street firms — Goldman Sachs and Morgan Stanley — plunged sharply last quarter as volatile markets cut deeply into investment banking.Goldman’s profits tumbled 66% to $1.33 billion in the fourth quarter, it said Tuesday, well below what Wall Street had expected. Profits at Morgan Stanley slumped 40% to $2.2 billion, barely beating analyst projections.Expectations for Goldman and Morgan were already grim after quarterly results last week from JPMorgan Chase, Citigroup and Bank of America.Goldman on Tuesday disclosed to investors that its consumer banking division was struggling far more than what was previously known publicly. The bank set aside $972 million to cover potential credit losses in the quarter, which the bank said came from higher charge offs in its rather new credit card business.“Widely…1 min
AppleMagazine|#586GERARD BUTLER KEEPS ‘PLANE’ GROUNDEDAfter “Airplane!” “Airport,” “Up in the Air,” “Flight,” “Snakes on a Plane,”“Non-Stop” and “The Terminal,” we have finally arrived, like weary passengers reaching an unexotic destination, at “Plane.”The Gerard Butler thriller, straight and to the point, has dispensed with anything too complicated in its title. We can, no doubt, look forward to future installments like “Bus,”“Automobile” and, if we’re lucky, “Boat.”But if “Plane,” which opens in theaters Friday, seems, well, kind of plain, it effectively reflects the ethos of Jean-François Richet’s straightforward and serviceable action flick. Man fly plane. Plane go down. Man (maybe) fly plane again.And Butler has gotten quite good at keeping these kinds of movies grounded. He plays Brodie Torrance, a pilot for Trailblazer Airlines whose next flight is a New Year’s run from Singapore to Tokyo.…2 min
AppleMagazine|#586NEVADA LITHIUM MINE GETS CONDITIONAL $700M GOVERNMENT LOANThe U.S. Department of Energy announced a conditional loan of $700 million to an Australian mining company to pursue a lithium project still facing environmental hurdles in Nevada as the U.S. seeks domestic supplies for a key component in electric vehicle batteries.The move ups the ante in what’s already a high-stakes battle over President Joe Biden’s energy agenda and conservationists fighting to protect an endangered wildflower found only at the proposed mine site on a high desert ridge halfway between Reno and Las Vegas.Ioneer Ltd. has hoped to begin mining at Rhyolite Ridge by 2026 in Esmerelda County. The Energy announcement said the site could produce enough lithium to support production of about 370,000 electric vehicles annually for decades.The loan would be the latest project to demonstrate the Biden administration’s…4 min
