Apple"s new credit card has been hit with charges of sexism, and now compliants are coming from the company"s co-founder.
Steve Wozniak says he got 10 times the credit limit his wife received even though they do not hold separate assets or bank or credit accounts.
The criticism behind the iPhone maker's credit card began Thursday, when entrepreneur David Heinemeier Hansson tweeted that the card gave him 20 times more credit than his wife had received.
Apple launched its highly anticipated titanium credit card in August in partnership with Goldman Sachs.
Apple didn't respond to a Reuters request for comment.
But Goldman said card applicants were independently evaluated according to income and creditworthiness.
The investment bank said it took into account factors such as personal credit scores and personal debt but insisted it hasn't and will not "make decisions based on factors like gender." Now, regulators are looking into the charges.
New York's Department of Financial Services said it's starting an inquiry into Goldman's credit card practices.
Its superintendent says the law bars algorithms from discriminating against protected classes of individuals.
Goldman Sachs shares fell roughly 1% in early trading Monday; Apple shares were flat.
Tech giant, Apple might finally be getting rid of Touch Bar from its next rendition of the MacBook Pro. According to Mashable, Apple is planning to replace the Touch Bar featured on its current crop of MacBooks and, instead, revert back to physical keys (among other things) for the new MacBook line. Touch Bar is one of the features Apple first introduced back in 2016 for the MacBook Pro. As per Mashable, it's super unintuitive, because adjusting things like volume and brightness requires extra taps, and it's not even optimized for all apps. It also bothered some users to go through the process of tinkering with MacBook's settings and customizing the Touch Bar. The Touch Bar also often leads to a series of constant accidental triggers of Apple's virtual assistant, Siri. As soon as this news broke out, several people on Twitter handles expressed disdain for the purported end of this feature of MacBook Pro.
American multinational technology company, Apple has reportedly started work on a foldable phone, for which it has begun prototyping foldable screens. Though a final device might be a faraway reality, Apple is working on just the display for now. According to The Verge, the initial prototypes sound similar to the foldable screens we've seen used by Samsung, Motorola, and others. Apple is looking at making foldable screens with a "mostly invisible hinge" that could unfold to around the size of the iPhone 12 Pro Max. Though the company rarely signals its interest before entering a new product category, Apple hasn't yet publicly indicated any interest in making a foldable phone. Its Major competitors have a head start on foldable devices, with Samsung and Motorola already releasing multiple generations of folding phones. Samsung's Galaxy Fold came out in April 2019. Other than this as per The Verge, Apple's long-rumoured Tile competitor, AirTags, are finally planned to launch this year, Bloomberg reports, and the iPad Pro could be refreshed with a Mini LED display. A thinner entry-level iPad is reportedly in the works as well.
Social media platform Parler, which has gone dark after being cut off by major service providers that accused the app of failing to police violent content, may never get back online, said its CEO John Matze. Bryan Wood reports.
When the biggest U.S. banks begin reporting fourth quarter results on Friday, some of the headlines could show profits plunged by as much as 40% from a year earlier before the pandemic struck. Fred Katayama reports.
U.S. stocks edged lower on Tuesday in choppy trading after hitting record highs, as investors worried about the path of the economic reopening and whether the Senate would authorize additional pandemic aid checks. Fred Katayama reports.
As JPMorgan Chase, Citigroup and Wells Fargo kick off earnings season Friday with better-than-expected profits, Mercadien Asset Management president Ken Kamen tells Reuters' Fred Katayama why investors should consider buying bank stocks even after their recent rally.