Want to see what’s happening this week in the news? Here is our weekly roundup of the most relevant articles of the week.
BLOOD TESTING COMPANY DISSOLVING AFTER CRIMINAL CHARGES (September 5, 2018) Theranos, a blood testing company facing criminal charges against founder Elizabeth Holmes and executive Ramesh Balwani will formally dissolve. Both stand accused of defrauding investors, doctors and patients; they deny the charges and will face a criminal trial. Theranos had claimed to have invented groundbreaking new technology, but reporting by The Wall Street Journal revealed its blood-testing was unreliable.
AMAZON JOINS THE TRILLION DOLLAR CLUB (September 4, 2018) On Tuesday, the Amazon’s shares rose nearly 2% during morning trading to reach a high of $2,050.50 making them the second US company to be worth $1 trillion.. Amazon’s market value has since slipped below the symbolic mark, which Apple hit less than one month ago. Amazon’s diverse portfolio, which includes Whole Foods and PillPack, is its value driver, say analysts.
NIKE’S CAMPAIGN CREATES MEDIA STAMPEDE (September 4, 2018) The move by Nike to feature Kaepernick as the face of their anniversary campaign is making big waves, it is not yet clear what kind of impact it will have on sales. In the 24 hours after the former NFL player tweeted the “Just Do It” spot, the sportswear giant has raked in more than $43 million worth of coverage. According to Twitter data from Sprinklr, there have been 3.4 million mentions of Nike and roughly 123,000 mentions of #BoycottNike and #NikeBoycott.
LAWMAKERS START TECH INDUSTRY HEARINGS (September 3, 2018) Executives from Facebook, Twitter and Google are likely to face questions on issues such as foreign election interference, fake accounts and consumer privacy. On Wednesday, the Senate Intelligence Committee is expected to hear from the likes of Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey. Both Republicans and Democrats want to know how tech companies are ensuring foreign agents cannot influence the 2018 midterm elections.