Weekly Wrap: Apple fined for slowing down phones, Ghana’s economy ranked high and more

Weekly Wrap: Apple fined for slowing down phones, Ghana’s economy ranked high and more

In the last seven days, Apple has been fined for slowing down older versions of iPhones, two comedians have cracked jokes aimed at billionaire Jeff Bezoz and Victoria's Secret is about to be sold.

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Apple hit with almost GHc150 million fine for slowing down old iPhones:

Apple Inc. has been fined 25 million euros or $27 million for intentionally slowing down older versions of iPhones without informing its clients.

France’s competition and fraud watchdog, DGCCRF imposed the fine on the technology firm. YEN.com.gh understands that Apple, in 2017, confirmed that it intentionally slowed down some models of their phones in a bid to prolong the life of the devices.

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Chris Rock and Steve Martin heartlessly crack jokes about Jeff Bezoz over divorce:

Recently divorced billionaire Jeff Bezoz was the target of jokes by comedians Chris Rock and Steve Martins during the opening monologue of the 2020 Oscars.

Rock remarked that Bezoz is so rich that a divorce settlement did little to reduce his wealth.

Bezoz was in the audience and appeared to be laughing at the jokes as the camera focused on him.

Victoria’s Secret attracts attention of private-equity investor; likely to be sold:

YEN.com.gh has learnt that American manufacturer of women’s lingerie, Victoria’s Secret, is likely to be sold to a private-equity investor, Sycamore Partners.

Information available shows that the manufacturer’s owner, L Brands, could announce the details of the deal soon.

Business Insider reports that close ties the chief executive officer (CEO) of the company, Les Wexner, has with Jeffrey Epstein, has led to criticisms.

Ghana’s economy ranked as one of Africa’s best options for growth:

A reporter with American media company, Bloomberg, has ranked Ghana’s economy as one to watch in the near future.

Bloomberg’s reporter, Noah Smith, argued that the country has performed creditably on development metrics and simply needs to break free of dependence on commodities.

The report added that there are key indicators that show a country is becoming a pacesetter. =

AngloGold Ashanti sells off its South Africa mines for $297 million:

Ghana’s gold producer, AngloGold Ashanti, has left South Africa after selling its mines there for $297 million.

The mining firm reached an agreement with Harmony Gold Mining Company Limited to offset its remaining assets and liabilities in the country.

Per a report by Business Insider, Harmony is expected to pay $200m in cash and $260/oz of gold from Mponeng and other underground assets included in the transaction based on production above 250,000oz/year.

Market regulator reveals Tesla may soon recall over 3000 Model X vehicles from China:

Car manufacturer, Tesla Inc, is likely to recall 3,183 cars from China, a market regulator has announced.

This follows news of a potential issue that could interfere with steering by making it harder. Per a report by Reuters, it could also lead to an increase in the risk of a crash, the regulator revealed.


Facebook is spending $130 million to create a 'Supreme Court' that can overrule Mark Zuckerberg:

In late 2018, Facebook’s Chief Executive Officer (CEO), Mark Zuckerberg, announced an ambitious plan: to create an independent oversight board that could overrule Facebook's content moderation guidelines, and even Zuckerberg himself.

With over 2 billion users, Facebook has a major moderation problem on its hands.

Facebook has faced moderation issue after moderation issue across the past few years.

Facebook allows U.S. political candidates to run sponsored content:

Facebook Inc (FB.O) said on Friday it was allowing U.S.-based political candidates to run branded content on its social networking platforms, but the content would not be cataloged in its advertising library.

Political campaigns and groups can now use the social media company’s branded content tool, which allows influencers to more clearly tag in an official sub-header that the post is a paid partnership.

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