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Apple isn't an evil company, but they do sometimes benefit from Chinese slave labor: JD Vance

Republican vice presidential nominee Sen. JD Vance on Thursday took a shot at Apple on CNBC’s “Squawk Box,” saying he thinks the company benefits from “slave labor” in China. His comment was part of a broader conversation about taxing companies that rely on manufacturing in China.

“Do I think Apple is an evil company? No. Do I think that sometimes they benefit from Chinese slave labor? Yeah, and that’s pretty sick,” said Vance, of Ohio. “I think that a company that wants to benefit from American markets should also have to pay American workers a fair wage.” Apple raised the starting wage for retail employees in May 2022 to $22 an hour.

Apple has previously said that it has found no evidence of forced labor anywhere it operates. The company had been asked by the former chairs of the Congressional-Executive Commission on China in 2021 to engage with U.S. Customs and Border Protection to ensure its supply chain is free of forced labor.

Apple did not immediately respond to CNBC’s request for comment.

The iPhone maker partners with manufacturers that build its devices overseas. Apple has historically relied on China for its production. As relations between the U.S. and China have become strained, it has worked to diversify its supply chain by expanding manufacturing to countries such as Vietnam and India.

For example, Apple produced $14 billion worth of iPhones in India over the last fiscal year.

Vance also said Thursday that he wants to raise tariffs on companies “shipping jobs overseas.” Former President Donald Trump has threatened additional tariffs of 60% to 100% on goods from China and blanket tariffs of 10% to 20% on imported goods.

Vance expressed support for Federal Trade Commission Chair Lina Khan’s antitrust crackdown and stricter rules on mergers.

“When you have companies like Facebook and Google censoring American citizens, making it harder for Americans to speak in their own political process, that is a major problem,” Vance said. “And yeah, I do think that there should be an antitrust solution to it.”

Meta and Google did not immediately respond to CNBC’s requests for comment.

On Thursday, Vance will headline two fundraisers in New York City hosted by some of his top supporters in the financial industry. Each event is expected to raise more than $1 million for Trump’s presidential campaign.

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Waymo offers teen accounts for driverless rides

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Waymo offers teen accounts for driverless rides

Waymo announced it is now offering teen accounts for its self-driving car service Waymo One, beginning in Phoenix, Arizona.

Courtesy of Waymo

Waymo announced Tuesday that it is offering accounts for teens ages 14 to 17, starting in Phoenix.

The Alphabet-owned company said that, beginning Tuesday, parents in Phoenix can use their Waymo accounts “to invite their teen into the program, pairing them together.” Once their account is activated, teens can hail fully autonomous rides.

Previously, users were required to be at least 18 years old to sign up for a Waymo account, but the age range expansion comes as the company seeks to increase ridership amid a broader expansion of its ride-hailing service across U.S. cities. Alphabet has also been under pressure to monetize AI products amid increased competition and economic headwinds.

Waymo said it will offer “specially-trained Rider Support agents” during rides hailed by teens and loop in parents if needed. Teens can also share their trip status with their parents for real-time updates on their progress, and parents receive all ride receipts.

Teen accounts are initially only being offered to riders in the metro Phoenix area. Teen accounts will expand to more markets outside California where the Waymo app is available in the future, a spokesperson said.

Waymo’s expansion to teens follows a similar move by Uber, which launched teen accounts in 2023. Waymo, which has partnerships with Uber in multiple markets, said it “may consider enabling access for teens through our network partners in the future.”

Already, Waymo provides more than 250,000 paid trips each week across Phoenix, the San Francisco Bay Area, Los Angeles, Atlanta, and Austin, Texas, and the company is preparing to bring autonomous rides to Miami and Washington, D.C., in 2026.

In June, Waymo announced that it plans to manually drive vehicles in New York, marking the first step toward potentially cracking the largest U.S. city. Waymo said it applied for a permit with the New York City Department of Transportation to operate autonomously with a trained specialist behind the wheel in Manhattan.

WATCH: We went to Texas for Tesla’s robotaxi launch. Here’s what we saw

We went to Texas for Tesla's robotaxi launch. Here's what we saw

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Elon Musk’s X says Indian government ordered over 2,000 accounts blocked, including Reuters

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Elon Musk's X says Indian government ordered over 2,000 accounts blocked, including Reuters

Indian Prime Minister Narendra Modi arrives at the White House to meet with U.S. President Donald Trump on Feb. 13, 2025 in Washington, DC.

Andrew Harnik | Getty Images News | Getty Images

Elon Musk’s X said Tuesday that the Indian government ordered the company to block 2,355 accounts, including Reuters, in the country.

“The Ministry of Electronics and Information Technology demanded immediate action- within one hour- without providing justification, and required the accounts to remain blocked until further notice,” X’s global government affairs account posted.

The main Reuters account, along with ReutersWorld, was blocked Saturday for users in India, the news service said. Screenshots showed the message “Account withheld @Reuters has been withheld in IN in response to a legal demand.”

The Indian government’s Press Information Bureau told Reuters that no government agency had required blocking the account and said it was working with X to resolve the issue. The accounts were restored on Sunday.

Read more CNBC tech news

The statement by X on Tuesday is the latest development in an ongoing censorship legal battle between Musk’s social media site and the Indian government led by Prime Minister Narendra Modi.

X sued Modi’s government in March, accusing India’s IT ministry of unlawfully expanding online censorship to allow the easier removal of content.

Musk often refers to himself as a free speech absolutist and has said his takeover of Twitter was partly due to what he viewed as the unfair restriction of conservative views and voices.

The Tesla CEO swiftly made changes to moderation after he acquired the site, which he later renamed to X.

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Robinhood CEO downplays OpenAI concerns on tokenized stock structure

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Robinhood CEO downplays OpenAI concerns on tokenized stock structure

Robinhood CEO defends OpenAI stock token offering

Robinhood CEO Vlad Tenev says it’s not “entirely relevant” that the trading platform’s so-called tokenized shares of OpenAI and SpaceX aren’t technically equity in the companies.

It comes after OpenAI raised concerns about the product, which is designed to give users in the European Union exposure to various U.S. stocks — including private companies, which are less liquid than publicly listed firms.

OpenAI last week warned that Robinhood’s stock tokens do not represent equity in the company and said in a post on X that, “any transfer of OpenAI equity requires our approval — we did not approve any transfer.”

Robinhood says its OpenAI stock tokens are “enabled by Robinhood’s ownership stake in a special purpose vehicle.”

“It is true that these are not technically equity,” Tenev, who co-founded Robinhood in 2013 with fellow entrepreneur Baiju Bhatt, told CNBC’s “Squawk Box Europe” Tuesday, echoing his initial response to OpenAI’s concerns.

Tenev said that OpenAI’s complex company structure enables institutional investors to gain exposure to the company through “various instruments, like equity upon the event of a conversion to a for-profit at a later date.”

OpenAI was initially founded as a non-profit organization. However, it has since evolved to include a for-profit entity, which is owned by the non-profit.

“In and of itself, I don’t think it’s entirely relevant that it’s not technically an equity instrument,” he said. “What’s important is that retail customers have an opportunity to get exposure to this asset” — even if it’s a private company — due to the disruptive nature of AI, he added.

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On Monday, the Bank of Lithuania, which is Robinhood’s lead authority in the European Union, told CNBC it was “awaiting clarifications” regarding the structure of the company’s stock tokens following OpenAI’s statement last week.

“Only after receiving and evaluating this information will we be able to assess the legality and compliance of these specific instruments,” Bank of Lithuania spokesman Giedrius Šniukas told CNBC. “The information for investors must be provided in clear, fair, and non-misleading language.”

Tenev said in response to the Lithuanian regulator’s comments that Robinhood is “happy to continue to answer questions from our regulators.”

“Since this is a new thing, regulators are going to want to look at it, and we’ve built this program in a way that we believe will withstand scrutiny — and we expect to be scrutinized as a large, innovative player in this space,” he told CNBC.

Watch CNBC's full interview with Robinhood CEO Vlad Tenev

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