Month: August 2024

Stock market plunges as U.S. recession fears jolt global markets

CompuScoop Staff August 5, 2024 1

The selloff was brutal, with the so-called Magnificent Seven group of stocks – the main driver for the indexes hitting record highs earlier this year – set to lose a combined $1 trillion in market value.

Apple fell 4.6% after Berkshire Hathaway halved its stake in the iPhone maker, suggesting that billionaire investor Warren Buffett is growing wary about the broader U.S. economy or stock market valuations that have gotten too high.

Nvidia slid 5.6% after reports of a delay in the launch of its upcoming artificial-intelligence chips due to design flaws.

Microsoft and Alphabet fell about 3% each.

A weak jobs report and shrinking manufacturing activity in the world’s largest economy, coupled with dismal forecasts from the big U.S. technology firms, pushed the Nasdaq 100 and the Nasdaq Composite into a correction last week.

The disappointing jobs data also triggered what is known as the “Sahm Rule”, seen by many as a historically accurate recession indicator. U.S. Treasury yields tumbled to their lowest in a year and a closely watched gap between two- and 10-year Treasury notes turned positive for the first time since July 2022, usually indicating U.S. economy is heading into a downturn.

Apple asks U.S. judge to toss antitrust lawsuit

Reuters News August 5, 2024 1

Late last week Apple asked a U.S. judge to dismiss a lawsuit by federal and state antitrust regulators accusing it of illegally monopolizing the smartphone market. Apple said the lawsuit, if successful, would see a judge redesigning the iPhone.

The Justice Department, 19 states and Washington, D.C., accuse Apple of an illegal monopoly on smartphones maintained by imposing contractual restrictions on, and withholding critical access from, developers.

In a motion filed in federal court in Newark, New Jersey, Apple argued that putting reasonable limitations on third-party developers’ access to its technology did not amount to anti-competitive behavior, and forcing it to share technology with competitors would chill innovation.

“Endorsing such a theory would require courts to oversee product-design and policy choices in dynamic technical markets,” Apple said.

The Justice Department says that by hampering interoperability between the iPhone and third-party apps and devices, Apple locks users into its own products and harms competition in the market. But Apple argued that the lawsuit fails to raise any evidence that its practices harm competition or consumers, who it says plausibly switch to a competitor if they dislike what iPhone features.

Via: Reuters

This Month, Pluto TV will be adding seven new channels to its Streaming Service

Dan Uff August 4, 2024 1

Starting this month, streaming service PlutoTV will be adding seven new channels to its lineup.

They are listed below:

Alien Nation by Dust
The ultimate destination for all things unexplained. Dive into the mysterious world of UFO hunting, alien abductions, and ghostly encounters with iconic hosts, mind-bending series, and shocking documentaries. Uncover the truth with us, 24/7.

Cheaters
How well do you know your special someone? The Cheaters Detective Agency is here to find out. All the dirty little secrets are going to come out on the long-running hit reality series airing 24/7 on Pluto TV.

FOX SOUL
FOX SOUL is a live streaming service with authentic conversations about the totality of Black culture. The programs aim to entertain, educate, and inspire with conversations from the many diverse voices and people within the Black community.

FOX Weather
We’ve got you covered! Throughout all major hurricanes and severe weather events, no one keeps you prepared like FOX Weather – the perfect resource to keep you safe and secure from whatever Mother Nature throws your way.

LiveNOW from FOX
Raw & unfiltered. Watch a non-stop stream of breaking news, live events and stories across the nation. Limited commentary. No opinion. Experience LiveNOW from FOX.

Makers
Streaming 24/7 and on-demand, This Old House’s Makers Channel is the DIY movement, led by today’s best woodworkers, designers, engineers, farmers and metalworkers. Makers show you their coolest projects.

Star Trek: The Motion Pictures
The real final frontier was the cinema. For a limited time, watch all 13 theatrical STAR TREK movies for free, all on one channel. From the Original Series crew to the Next Generation to the Kelvin timeline, catch them all before they boldly go away.

A New Free Sports Network Launching in South Carolina, USA on OTA TV

CompuScoop Staff August 3, 2024 0

Gray Media is launching a free sports network in South Carolina, featuring live coverage of local sports teams and Clemson Athletics content. The network aims to attract viewers back to traditional TV networks through live sports broadcasts.

The Palmetto Sports & Entertainment channel by Gray Media will launch in October 2024 on South Carolina stations WPAM 18.1 and WIS 10.4 in Columbia, WHNS 21.2 in Greenville-Asheville-Spartanburg, WZCH 35.3 in Charleston, and WMBF 32.3 in Myrtle Beach.

“We’re having fun creating new fans,” said WIS Vice President and General Manager Robby Thomas. “Our audience tells us how much they appreciate watching live sports for free over-the-air. We recognize the power of sports to connect communities, and we’re thrilled to launch this statewide.”

“We are proud to be an Official Partner of Clemson Athletics and couldn’t be more grateful,” said WHNS FOX Carolina Vice President and General Manager Bryce Caldwell. “It will give viewers the opportunity to see re-imagined Clemson coaches shows, specials and unique content you can’t find anywhere else.”

“This is an incredibly impactful way to bring our award-winning content to more of our fans in their homes alongside a partner with the firepower to expand the footprint of our original programming,” said Kyle Caddell, President of Clemson Athletics’ partnerships team.

This all comes as broadcasts look for live sports to try and attract viewers back to traditional TV networks.

Via: Cord Cutters News