Apple Wants To Wipe Google Off The Map – and Other News Told in Charts
Apple (AAPL) thinks Google (GOOG) should get lost, for real. Tim Cook plans to kick Google Maps from its preloaded perch on the iPhone and iPad later this year and replace it with a new Apple mapping app, reports the Wall Street Journal. The map app (iMap, you think?) is the latest front in the escalating war between the two tech giants, which are battling over data, software, smartphones and your technological soul.
Carl Icahn To Join Chesapeake’s Board
Carl Icahn is getting a board seat at Chesapeake Energy (CHK), the embattled natural gas provider that some say looks more like a hedge fund. Icahn will be one of four new board members, says Reuters, which reports that Icahn has a “constructive” relationship with chief Aubrey McClendon. McClendon lost the chairman title after he, among other things, ran a $200 million hedge fund on the side. It's a safe bet that board meetings will be very "constructive."
Goldman Quietly Lays Off Managing Directors
Some of Wall Street’s most powerful bankers are losing their jobs. Goldman Sachs (GS) quietly laid off 50 high-ranking people last week, including managing directors, according to the New York Times. It has already cut 3,000 people in the past year. Morgan Stanley (MS) and Credit Suisse (CS) have also had layoffs. Here’s why:
Wal-Mart Shareholders Are Pissed
It turns out that investors aren't keen on bribery scandals. One third of outside investors voted against re-electing Wal-Mart (WMT) chief executive Michael Duke and three other board members, says the New York Times. Shareholders are likely unhappy over the handling of the Wal-Mart de Mexico bribery scandal, news of which broke April 21. Luckily for the founding Walton family, which controls almost half the shares, investors can’t do much other than complain. Despite the vote, investors don’t appear to be leaving.