The Market News Today: Fed Decision and Major Tech to Apparel Earnings in Focus

The Market News Today: Fed Decision and Major Tech to Apparel Earnings in Focus

Apple in Talks with Google for AI Integration in Upcoming iPhone Update

Apple is negotiating with Google to integrate Gemini, Google’s AI engine, into the iPhone, as reported by Bloomberg. Gemini offers a range of AI tools, including chatbots and coding assistants. These discussions come as Apple prepares to unveil iOS 18 at its June Worldwide Developer’s Conference. Apple also explored collaborations with OpenAI but has yet to finalize any AI partnership terms or implementation strategies. Both Apple and Google have not responded to requests for comment on this matter. (Bloomberg)

Uber Settles Australian Lawsuit for $178 Million, Taxi Operators Claim Victory

Uber agrees to a $178.3 million settlement in Australia, resolving a lawsuit filed by over 8,000 taxi and hire car operators. The case accused Uber of aggressive market entry, causing loss of income for local drivers. Maurice Blackburn Lawyers highlighted the hard-fought legal battle, while Uber views the settlement as closing a contentious chapter. The deal awaits court approval, marking a significant outcome in the ongoing global tension between traditional taxis and ride-hailing services. (BBC)

Hertz CEO Steps Down Amid Shift Away from EV Rentals

Hertz Global Holdings Inc. announces CEO Stephen Scherr’s resignation effective March 31. Leading Hertz for over two years, Scherr departs as the company rethinks its electric vehicle (EV) strategy, grappling with high repair costs and low demand for EV rentals. Hertz recently decided to sell a significant portion of its EV fleet and refocus on gasoline vehicles, marking a pivot from its earlier EV investment hailed by the Biden administration. The move follows Hertz’s largest quarterly loss since 2020. (CNN)

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