Apple Settles Siri Privacy Lawsuit for $95M
Apple has agreed to a $95 million settlement to resolve a class-action lawsuit over privacy violations linked to its virtual assistant, Siri. Users claimed that Siri-enabled devices, including iPhones and Apple Watches, inadvertently recorded private conversations, which were allegedly accessed by third parties without consent.
The settlement, pending approval from a California federal court, could compensate affected users with up to Rs. 20 per device. This marks a significant step by Apple in addressing user privacy concerns, as the tech giant faces increasing scrutiny over data security practices.
The lawsuit stems from incidents where Siri’s activation was triggered by accidental cues, leading to unintentional recordings. Apple has since implemented software updates to address these issues. However, the case underscores the growing challenges tech companies face in ensuring user privacy while advancing AI-driven functionalities.
Morgan Stanley Withdraws From Climate Alliance
Morgan Stanley has announced its decision to exit the United Nations-backed Net-Zero Banking Alliance, a group committed to achieving net-zero emissions by 2050. This decision aligns with similar withdrawals by Goldman Sachs and Citi earlier this year.
While Morgan Stanley has refrained from providing a detailed explanation, the move is widely viewed as a response to increasing political pressure and skepticism surrounding environmental initiatives. Critics argue that the exit may slow progress toward global climate goals. However, some analysts believe the growing scrutiny of environmental, social, and governance (ESG) policies has made such commitments politically challenging for major financial institutions.
The decision also reflects the broader complexities financial institutions face in balancing profitability with sustainability goals. As climate action remains a polarizing topic, Morgan Stanley’s withdrawal highlights the evolving landscape of corporate responsibility amid external pressures.
Hindenburg’s Bold Accusations Against Carvana
Hindenburg Research has launched a scathing critique of Carvana, an online car retailing giant, alleging financial misconduct and questionable business practices. In a report titled “Carvana: A Father-Son Accounting Grift For The Ages,” the firm accuses Carvana of employing dubious accounting methods and questionable loan practices to mask financial instability.
The report particularly targets CEO Ernie Garcia III and his father, Ernest Garcia II, the company’s largest shareholder, for allegedly orchestrating these tactics. According to Hindenburg, the company has overstated its financial health, potentially misleading investors.
Carvana’s rapid growth during the pandemic made it a market favorite, but the recent allegations have raised serious concerns about its operational sustainability and corporate governance. Investors are closely watching how the company will respond, as its stock price has already faced significant volatility following the release of Hindenburg’s report.
Tesla Records First Annual Sales Decline in Over a Decade
Tesla’s annual sales dropped for the first time in more than 12 years, delivering 1.79 million vehicles in 2024—a 1.1% decline compared to 2023’s 1.81 million. Despite a 2.3% growth in sales during the final quarter of 2024, the company struggled to maintain its long-standing growth trajectory.
Tesla introduced aggressive incentives, such as zero-percent financing, free charging, and discounted leases, to boost sales. However, the broader EV market faced challenges as competition intensified and demand began to slow.
The company’s declining sales highlight the increasing pressures on automakers to sustain growth in a rapidly evolving market. While Tesla remains a dominant player, its competitors are narrowing the gap, making 2025 a pivotal year for the EV giant’s strategy.
Economists Voice Concerns Over Trump’s Tariff Plans
As speculation grows about Donald Trump’s potential return to the U.S. presidency, economists are raising alarms over his proposed trade policies. A survey involving over 200 economists from the U.S. and Europe revealed widespread concerns about inflationary pressures stemming from Trump’s proposed tariff hikes.
The proposed policies include a 60% tariff on imports from China and a 10–20% tariff on other nations. Economists warn that these measures could disrupt global trade, potentially increasing consumer costs and slowing economic growth.
While some experts argue that the U.S. economy could still outperform Europe due to strong domestic demand, others caution that such aggressive trade policies could harm long-term growth prospects. The potential for heightened inflation and strained international relations adds complexity to an already uncertain economic outlook.
read more globle news on niftynews
