Apple cuts revenue forecast amid China slowdown
- Apple Inc. reduced revenue expectations for its most recent quarter as a result of poor iPhone sales in China, the first time the tech company has lowered its quarterly forecast in 16 years and an indication that a slowing Chinese economy could spark global turmoil. China is Apple’s third largest market, and the company said it expected revenue of approximately $84 billion in the quarter that ended last weekend, down from a previous estimate of $89 billion to $93 billion.
Federal Communications Commission
- The Federal Communications Commission suspended most of the agency’s services as a result of the partial government shutdown. The FCC said before the closure that the majority of its staff would be furloughed and that it would suspend all work that is not “required for the protection of life and property” or related to spectrum auctions, which are funded by the sale of spectrum licenses.
- The U.S. Senate confirmed Democrat Geoffrey Starks to join the FCC and voted to approve a new five-year term for current Republican Commissioner Brendan Carr. Starks, an assistant chief for the FCC’s Enforcement Bureau, was nominated last June, and his confirmation means that the agency is now back to being fully staffed.
- FCC Chairman Ajit Pai released a statement applauding Congress’ failure to pass a Congressional Review Act resolution to overturn the agency’s repeal of Obama-era net neutrality rules, saying he was pleased “a strong bipartisan majority of the U.S. House of Representatives declined to reinstate heavy-handed Internet regulation.” The Senate passed a resolution last May to reinstate the 2015 Open Internet Order, but the measure stalled in the House and failed to pass before the end of the session.
Judge dismisses San Bernardino shooting lawsuit
- A federal judge dismissed lawsuits that sought to hold Facebook Inc., Google and Twitter Inc. liable to victims of the December 2015 mass shooting in San Bernardino, Calif., that killed 14 people and injured 22 others. U.S. Magistrate Judge Laurel Beeler in San Francisco found that while the platforms were “generally aware” that the Islamic State used their services, the shooting was not a direct result of the companies providing resources to the terrorist group.
Qualcomm moves to force iPhone ban in Germany
- U.S. chipmaker Qualcomm Inc. said in a statement it posted security bonds worth 1.34 billion euros ($1.53 billion) with a court in Munich to enforce a court order banning the sale of some of Apple Inc.’s iPhone models in Germany. A German court ruled last month in favor of Qualcomm’s claim that Apple infringed upon one of its patents, but said that Qualcomm could only enforce a sales ban on the relevant devices if it agreed to post bonds covering potential Apple losses if the ruling gets overturned.
Court blocks NYC law targeting home-sharing platforms
- A federal court blocked a recent New York City law that would require Airbnb Inc. to turn over host names and addresses to the Mayor’s Office of Special Enforcement. Judge Paul Engelmayer issued a preliminary injunction against the regulation, set to go into effect in February, saying that Airbnb, along with fellow home-sharing platform HomeAway, would likely succeed on their claim that the requirements violate search and seizure protections under the Fourth Amendment.
