Why Apple doesn’t want users to replace their own batteries

This comes after Apple recalled some 15-inch MacBook Pro laptop models because the batteries inside the computers pose a fire hazard. “The FAA is aware of the recalled batteries that are used in some Apple MacBook Pro laptops. Separately, Apple responded to an uproar when customers discovered that it really doesn’t want them replacing their own batteries. Apple has also fought counterfeit batteries in the legal system and on online retailers, but it does not sell authentic batteries directly to


This comes after Apple recalled some 15-inch MacBook Pro laptop models because the batteries inside the computers pose a fire hazard. “The FAA is aware of the recalled batteries that are used in some Apple MacBook Pro laptops. Separately, Apple responded to an uproar when customers discovered that it really doesn’t want them replacing their own batteries. Apple has also fought counterfeit batteries in the legal system and on online retailers, but it does not sell authentic batteries directly to
Why Apple doesn’t want users to replace their own batteries Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-18  Authors: kif leswing
Keywords: news, cnbc, companies, maluf, battery, inside, recalled, batteries, iphone, repair, users, apple, doesnt, replace, authorized


Why Apple doesn't want users to replace their own batteries

Apple CEO Tim Cook Spencer Platt | Getty Images

The two recent incidents involving Apple products show a growing risk to the company’s brand: the lithium-ion batteries that power its devices. First, the Federal Aviation Administration disclosed last week that some Apple laptops have been banned from flights. This comes after Apple recalled some 15-inch MacBook Pro laptop models because the batteries inside the computers pose a fire hazard. The official recall put into motion a regulatory apparatus designed to prevent a rogue gadget from bursting into flames on a flight. The bottom line is that if any battery from any company is recalled, it “must not” be carried aboard — or checked in luggage — on an aircraft until it’s been repaired by the manufacturer, says the Federal Aviation Administration. “The FAA is aware of the recalled batteries that are used in some Apple MacBook Pro laptops. In early July, we alerted airlines about the recall, and we informed the public,” the FAA said in a statement. Separately, Apple responded to an uproar when customers discovered that it really doesn’t want them replacing their own batteries. Repair experts discovered that a menu inside the iPhone settings app will display a warning message if the iPhone battery wasn’t replaced by an Apple store or authorized servicer. iFixit, which creates repair guides and sells parts and tools, suggested that Apple was trying to prevent any shops without Apple authorization from replacing batteries. Apple’s response centered around safety: “This information is there to help protect our customers from damaged, poor quality, or used batteries which can lead to safety or performance issues,” Apple said in a statement. In both cases, Apple’s recommendation to users is the same: Get the battery replaced by Apple or an authorized service center. Here’s why.

Fake batteries cause problems

Apple mobile phones iPhone 6 on screens of which we can see the battery charge indicator. Chesnot | Getty Images

Fake replica batteries that look authentic are a growing problem not only for Apple, but for many electronics companies, said Nadim Maluf, CEO of Qnovo, which makes software that monitors the health and flow of power inside batteries for devices including Android phones. “In China, people are amazingly good when a new model is launched by Apple or Samsung or LG, taking the battery out, taking the dimensions, and making a replica,” he continued. “What’s inside, is who knows, usually made by 2nd and 3rd and 4th tier manufacturers.” People buy fake batteries online, or repair shops buy them from unauthorized sources. These batteries can have chemistry issues which make them swell up, eventually leading to a fire, Maluf said. “All that feeds into a safety hazard, and that damages the reputation of the OEM,” Maluf said. Hypothetically, in a public situation, “Apple will take the hit for it even though the battery came from an unknown source.” In the last year, Apple introduced a feature in the iPhone settings app that warns users that the device can’t verify that it’s an “genuine Apple battery” and removes other battery health statistics such as its maximum capacity. Maluf expects other device companies to follow. Apple has also fought counterfeit batteries in the legal system and on online retailers, but it does not sell authentic batteries directly to users. Apple recommends that users lean on its network of authorized repair shops to get any battery replacement work done. Apple said that in addition to its network of stores, there are 1,800 authorized dealers in the United States that have access to authentic Apple parts and batteries. Owners of the recalled MacBook Pro laptops can bring them into Apple or certain authorized service centers for a free repair, Apple said on its website.

A small percentage of a huge number


Company: cnbc, Activity: cnbc, Date: 2019-08-18  Authors: kif leswing
Keywords: news, cnbc, companies, maluf, battery, inside, recalled, batteries, iphone, repair, users, apple, doesnt, replace, authorized


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Trump says he doesn’t want to do business with Huawei due to national security concerns

President Donald Trump said Sunday he doesn’t want to do business with Chinese tech giant Huawei, after weekend reports that the administration was planning to extend a reprieve that allows it to buy parts from U.S. companies. “I don’t want to do business at all because it is a national security threat,” Trump told reporters. The Wall Street Journal and Reuters reported that the Commerce Department was preparing to extend a license for 90 days which would allow Huawei to continue business with U


President Donald Trump said Sunday he doesn’t want to do business with Chinese tech giant Huawei, after weekend reports that the administration was planning to extend a reprieve that allows it to buy parts from U.S. companies. “I don’t want to do business at all because it is a national security threat,” Trump told reporters. The Wall Street Journal and Reuters reported that the Commerce Department was preparing to extend a license for 90 days which would allow Huawei to continue business with U
Trump says he doesn’t want to do business with Huawei due to national security concerns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-18  Authors: spencer kimball
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Trump says he doesn't want to do business with Huawei due to national security concerns

President Donald Trump said Sunday he doesn’t want to do business with Chinese tech giant Huawei, after weekend reports that the administration was planning to extend a reprieve that allows it to buy parts from U.S. companies.

“I don’t want to do business at all because it is a national security threat,” Trump told reporters. “We’ll see what happens. I’m making a decision tomorrow,” he added.

The Wall Street Journal and Reuters reported that the Commerce Department was preparing to extend a license for 90 days which would allow Huawei to continue business with U.S. companies to service existing customers. The current agreement is set to end on Monday.

The Commerce Department put Huawei on a blacklist in May after Trump declared a national emergency over threats to U.S. technology. The blacklist blocks U.S. companies from selling or transferring technology to Huawei unless they are granted a special license.


Company: cnbc, Activity: cnbc, Date: 2019-08-18  Authors: spencer kimball
Keywords: news, cnbc, companies, doesnt, companies, commerce, department, trump, technology, concerns, business, extend, security, huawei, license, national


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WeWork doesn’t have a single woman director, according to IPO filing

It’s 2019, and a $47 billion company is going public with an all-male board of directors. WeWork’s parent known formally as the We Company disclosed who comprises its board in an initial public offering prospectus early on Wednesday. As of last month, every S&P 500 company had at least one female director on its board. Its underwriters, including J.P. Morgan and Goldman Sachs, have also contributed $6 billion toward a credit facility, contingent upon the IPO. In the first half of the year, 13 wo


It’s 2019, and a $47 billion company is going public with an all-male board of directors. WeWork’s parent known formally as the We Company disclosed who comprises its board in an initial public offering prospectus early on Wednesday. As of last month, every S&P 500 company had at least one female director on its board. Its underwriters, including J.P. Morgan and Goldman Sachs, have also contributed $6 billion toward a credit facility, contingent upon the IPO. In the first half of the year, 13 wo
WeWork doesn’t have a single woman director, according to IPO filing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: leslie picker deirdre bosa, leslie picker, deirdre bosa
Keywords: news, cnbc, companies, woman, doesnt, wework, investors, public, company, companies, filing, director, allmale, women, billion, according, ipo, single, going, board


WeWork doesn't have a single woman director, according to IPO filing

Signage is seen at the entrance of the WeWork offices on Broad Street in New York.

It’s 2019, and a $47 billion company is going public with an all-male board of directors.

WeWork’s parent known formally as the We Company disclosed who comprises its board in an initial public offering prospectus early on Wednesday. Among the seven members, not a single one is female. The company was most-recently valued privately at $47 billion although it’s unclear if they’ll receive the same price tag from the public markets.

As of last month, every S&P 500 company had at least one female director on its board. It’s become a more-prominent issue in recent years as major investors, such as BlackRock and State Street, have pushed back against companies with all-male directors. Having a more-diverse board is seen as an avenue toward better shareholder returns.

In several weeks, WeWork is expected to launch a roadshow where it will meet with investors and seek to drum up support for what’s likely going to be a multi-billion-dollar stock sale. Its underwriters, including J.P. Morgan and Goldman Sachs, have also contributed $6 billion toward a credit facility, contingent upon the IPO.

WeWork declined to comment on the makeup of its board of directors.

WeWork does have several women in management positions. Rebekah Neumann — the co-founder and wife of Adam Newmann, the CEO — serves as chief brand and impact officer. And Jennfer Berrent is the co-president and chief legal officer.

Adam Neumann serves as chairman of the board. WeWork’s board also includes Bruce Dunlevie, a founding partner of Benchmark Capital, as well as Ronald Fisher, vice chairman of SoftBank, two of the company’s largest investors. Other members include Lewis Frankfort, Steven Langman, Mark Schwartz and John Zhao.

WeWork has a triple-class share structure and will be a controlled company, making it difficult for an outside investor to wage a proxy contest that would alter the makeup of the board.

Amid a boom in initial public offerings in 2019, women have been gaining ground in the C-Suite. In the first half of the year, 13 women CEOs have taken companies public, representing about 15 percent of the total IPOs over that period. That’s the highest proportion of any year going back to at least 2014, an analysis by CNBC found.

Historically, women were more absent from the boardrooms of companies making their debuts. A study released last month by 2020 Women on Boards found that 37 percent of the 75 largest IPOs from 2014 to 2016 debuted with all-male boards. But in the last few years, it’s become a much less common occurrence, especially among larger private companies that have waited far longer to go public.

WeWork disclosed its prospectus after being on file confidentially. The company is aiming for a debut in September, people with knowledge of the timeline said.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: leslie picker deirdre bosa, leslie picker, deirdre bosa
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There’s a new Apple analyst and he doesn’t love the stock: ‘No recovery in the iPhone business’

A veteran tech analyst just weighed in on Apple and he said don’t buy. “For AAPL, we see no recovery in the iPhone business and expect growth to slow in the service business,” said Long in his first note on the stock to clients on Thursday. Apple is generally a well-liked stock on Wall Street. Apple has 16 hold ratings and 21 buy ratings. But Long said Apple is losing share in its core market and the company is at near-high valuations.


A veteran tech analyst just weighed in on Apple and he said don’t buy. “For AAPL, we see no recovery in the iPhone business and expect growth to slow in the service business,” said Long in his first note on the stock to clients on Thursday. Apple is generally a well-liked stock on Wall Street. Apple has 16 hold ratings and 21 buy ratings. But Long said Apple is losing share in its core market and the company is at near-high valuations.
There’s a new Apple analyst and he doesn’t love the stock: ‘No recovery in the iPhone business’ Cached Page below :
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There's a new Apple analyst and he doesn't love the stock: 'No recovery in the iPhone business'

A veteran tech analyst just weighed in on Apple and he said don’t buy.

Barclays hired Tim Long as its new IT hardware and communications managing director and while initiating coverage of the whole IT hardware and communications equipment sector, Long gave tech giant Apple an equal weight rating and a $192 price target.

“For AAPL, we see no recovery in the iPhone business and expect growth to slow in the service business,” said Long in his first note on the stock to clients on Thursday.

Apple is generally a well-liked stock on Wall Street. Of the company’s 41 ratings on the Street, only 4 of them are sell, according to FactSet. Apple has 16 hold ratings and 21 buy ratings. But Long said Apple is losing share in its core market and the company is at near-high valuations.


Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: maggie fitzgerald
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Texas Democratic Rep. Henry Cuellar doesn’t plan to give away NRA donation in aftermath of gun massacres

And at least one of them, Rep. Henry Cuellar of Texas, doesn’t plan on giving the money back, despite his party’s opposition to the gun lobby. Cuellar received $6,950 in donations from the NRA Political Victory Fund during his reelection campaign last year. Veteran Democratic strategist Mary Anne Marsh went further and said any member of her party that accepts NRA money should not be serving in congress. In addition to Cuellar, Democrats who received money from the NRA last cycle include Rep. Co


And at least one of them, Rep. Henry Cuellar of Texas, doesn’t plan on giving the money back, despite his party’s opposition to the gun lobby. Cuellar received $6,950 in donations from the NRA Political Victory Fund during his reelection campaign last year. Veteran Democratic strategist Mary Anne Marsh went further and said any member of her party that accepts NRA money should not be serving in congress. In addition to Cuellar, Democrats who received money from the NRA last cycle include Rep. Co
Texas Democratic Rep. Henry Cuellar doesn’t plan to give away NRA donation in aftermath of gun massacres Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: brian schwartz
Keywords: news, cnbc, companies, political, republicans, background, money, henry, massacres, gun, plan, nra, donation, democratic, rep, received, texas, reelection, doesnt


Texas Democratic Rep. Henry Cuellar doesn't plan to give away NRA donation in aftermath of gun massacres

The recent mass shootings in California, Texas and Ohio have prompted Democrats to launch fresh broadsides against the National Rifle Association. Yet the NRA, which typically donates to Republicans, has actually donated to a few Democratic politicians.

And at least one of them, Rep. Henry Cuellar of Texas, doesn’t plan on giving the money back, despite his party’s opposition to the gun lobby.

“Why would he do that?” said Cuellar’s campaign spokesman, Colin Strother, when asked whether the lawmaker will return an NRA donation or give it to charity. Cuellar received $6,950 in donations from the NRA Political Victory Fund during his reelection campaign last year. He has received thousands of dollars in donations from the group since he was elected to Congress over a decade ago.

Strother also defended his boss’s record on supporting the expansion of background checks and noted that he helped pass the Fix NICS Act, which would require federal agencies to report criminal convictions to the attorney general. Those convictions are put into a background check system.

Cuellar recently voted in favor of H.R. 8, a bipartisan bill that would create new background check requirements for gun transfers between unlicensed individuals. The NRA has been against universal background checks and has been actively lobbying against the bill.

“Contributions of any size have never and will never influence his policy positions. He votes based on what’s best for his district, and that includes Fix NICS and background checks.” Strother said. “The people of El Paso, Sutherland Springs and all over the country deserve more than symbolic gestures, they deserve a vote in the Senate on background checks.”

Cuellar’s 28th district is home to Sutherland Springs, Texas, the site of a 2017 church shooting in which more than 20 people were killed.

In 2019, 62 people in the United States have been killed due to mass shootings, according to a tally by Time.

Democratic strategists believe it is time for the few members of the party who have accepted money from the NRA to give it away or risk losing their seats.

“The Democrats won’t do that, stupidly, because they will look too liberal,” political strategist Hank Sheinkopf told CNBC. “If you don’t give it back, you will have to explain the position. The explanation in the position is really inexplainable after an event like this.”

Veteran Democratic strategist Mary Anne Marsh went further and said any member of her party that accepts NRA money should not be serving in congress.

“Not one Democrat should take one dime from the NRA,” she said. “With domestic terrorism on the rise and guns the weapons of choice to slaughter Americans, if you aren’t doing everything to end gun violence then you don’t deserve to serve in congress. Taking money from the NRA won’t end gun violence but it will end your political career in 2020.”

In addition to Cuellar, Democrats who received money from the NRA last cycle include Rep. Collin Peterson of Minnesota and Rep. Sanford Bishop of Georgia. All three are up for reelection in 2020. The offices of Peterson and Bishop did not respond to questions about whether the congressmen would let go of the NRA donations in the wake of the shootings.

The NRA has mainly backed Republicans running for congress. Just under $700,000 from the NRA’s affiliated PAC’s was disbursed to various candidates during the 2018 midterms, according to the nonpartisan Center for Responsive Politics. At least 98% of NRA contributions went to Republicans that cycle.

Sen. Ted Cruz, R-Texas, received $9,000 from the NRA’s PAC during his reelection campaign last year. Sen. John Cornyn, R-Texas, who is up for reelection next year, received $4,950 from the PAC in March, according to a Federal Election Commission record. Representatives for Cruz and Cornyn did not respond to questions on whether they plan to give away the NRA money.


Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: brian schwartz
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Joe Manchin questions China’s promised $84 billion investment in West Virginia: ‘Something doesn’t make sense here’

Senator Joe Manchin (D-WV) speaking at a press conference sponsored by the Problem Solvers Caucus and the Common Sense Coalition to announce “principles for legislation to lower prescription drug prices” at the US Capitol in Washington, DC. Sen. Joe Manchin, D-W.Va., is raising alarm bells about an $83.7 billion investment in his home state pledged by China’s state-owned energy giant. “In West Virginia, they came and signed a [Memorandum of Understanding] for $83 billion, and I repeat, $83 billi


Senator Joe Manchin (D-WV) speaking at a press conference sponsored by the Problem Solvers Caucus and the Common Sense Coalition to announce “principles for legislation to lower prescription drug prices” at the US Capitol in Washington, DC. Sen. Joe Manchin, D-W.Va., is raising alarm bells about an $83.7 billion investment in his home state pledged by China’s state-owned energy giant. “In West Virginia, they came and signed a [Memorandum of Understanding] for $83 billion, and I repeat, $83 billi
Joe Manchin questions China’s promised $84 billion investment in West Virginia: ‘Something doesn’t make sense here’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: tucker higgins kayla tausche, tucker higgins, kayla tausche
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Joe Manchin questions China's promised $84 billion investment in West Virginia: 'Something doesn't make sense here'

U.S. Senator Joe Manchin (D-WV) speaking at a press conference sponsored by the Problem Solvers Caucus and the Common Sense Coalition to announce “principles for legislation to lower prescription drug prices” at the US Capitol in Washington, DC.

Sen. Joe Manchin, D-W.Va., is raising alarm bells about an $83.7 billion investment in his home state pledged by China’s state-owned energy giant.

“In West Virginia, they came and signed a [Memorandum of Understanding] for $83 billion, and I repeat, $83 billion over 20 years,” Manchin said Thursday during a Senate hearing on innovation in the energy sector.

“When you put that in comparison to the state budget of West Virginia, our state budget only goes over $4 billion a year, so something doesn’t make sense here, and we cannot find out what their intent is,” he said.

Read more: West Virginia is still waiting on an $84 billion investment from China that was promised in 2017

The concerns echo those raised by lawmakers — including Manchin — in interviews with CNBC about the proposed size of the investment relative to the state’s small output, as well as the opaque nature of the deal.


Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: tucker higgins kayla tausche, tucker higgins, kayla tausche
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Hollywood doesn’t adjust the box office for inflation, but if it did, these would be the top 10 highest-grossing films of all time in the US

Another major reason that Hollywood doesn’t adjust for inflation is the number of foreign markets films are now released in. That being said, here are the top 10 highest-grossing films if Hollywood did adjust the box office based on modern ticket prices in the U.S:10. The Ten Commandments (1956)Estimated admissions: 131 million ticketsEstimated adjusted gross: $1.18 billion The 3-hour-and-40-minute feature debuted in 1956 and earned $65.5 million. Titanic (1997)Estimated admissions: 143.5 millio


Another major reason that Hollywood doesn’t adjust for inflation is the number of foreign markets films are now released in. That being said, here are the top 10 highest-grossing films if Hollywood did adjust the box office based on modern ticket prices in the U.S:10. The Ten Commandments (1956)Estimated admissions: 131 million ticketsEstimated adjusted gross: $1.18 billion The 3-hour-and-40-minute feature debuted in 1956 and earned $65.5 million. Titanic (1997)Estimated admissions: 143.5 millio
Hollywood doesn’t adjust the box office for inflation, but if it did, these would be the top 10 highest-grossing films of all time in the US Cached Page below :
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Hollywood doesn't adjust the box office for inflation, but if it did, these would be the top 10 highest-grossing films of all time in the US

Tim Macpherson | Iconica | Getty Images

As “Avengers: Endgame” has raced its way to and beyond the highest-grossing film record held by “Avatar,” questions have arisen about how Hollywood determines what movie is considered the biggest earner. After all, “Avatar” was released in 2009, so wouldn’t a fairer comparison between the 2019-released “Endgame” be adjusted for inflation? Well, it’s not that simple. There’s a reason the film industry doesn’t measure the success of modern movies against those of the past — movie ticket inflation isn’t an exact science. There are so many factors behind what makes a movie a box office success and those factors have changed since the earliest days of cinema. For one, consumers have many more choices of what to spend their money on when it comes to entertainment. Even if you exclude sporting events, concerts and at-home entertainment such as streaming services and video games, just the sheer number of options of what movie to see in theaters is so much larger than 50 years ago. For that reason, a film like “Gone with the Wind” sold more than 200 million tickets over the course of its initial release and additional seven rereleases in the U.S. For comparison, Disney’s “Endgame” sold around 94.8 million tickets domestically since its release in April. The content of movies has also changed drastically. Three-hour dramas about the lives of Southerners during the Civil War wouldn’t be as popular in 2019 as they were in, say, 1939. So, it would be difficult to say with certainty that a film that thrived decades ago would still do so today.

Another major reason that Hollywood doesn’t adjust for inflation is the number of foreign markets films are now released in. Analysts would have to dive into each global market to determine the inflation rate in each country, a task that is nearly impossible considering most films are released in more than 100 markets during their initial run. Still, it’s an interesting exercise. So, CNBC contacted Comscore, a media measurement and analytics company, to work out how an adjusted figure could be determined. Paul Dergarabedian and his team devised a method wherein they divided the average ticket price for the year a film was released into the film’s gross to determine the estimated number of tickets the film would have sold. Of course, this gets tricky, especially considering so many high-grossing films are rereleased long after their initial debut. For instance, “Snow White and the Seven Dwarfs” was released in theaters in 1937, 1983, 1987 and 1993. So, for these films, Comscore used the average ticket price for each of those different years and divided them into the gross for each rerelease. To be sure, this isn’t a perfect method. Average ticket prices are just that, an average. There’s no way to break down the price of IMAX screenings and 3D screenings, or pricing based on region. Not to mention, ticket prices vary by year. In 2017, the average ticket price was $8.97. In 2018 it was $9.11. This year it is $9.01. So if this adjustment had been done last year, the numbers would have been significantly higher. That being said, here are the top 10 highest-grossing films if Hollywood did adjust the box office based on modern ticket prices in the U.S:

10. Snow White and the Seven Dwarfs (1937)

Estimated admissions: 109 million tickets

Estimated adjusted gross: $982 million Since 1937, “Snow White and the Seven Dwarfs” has garnered around $184.9 million at the domestic box office. The film was the first full-length animated feature from Disney. The film has been rereleased at least three times and made more money from those rereleases than it did from its initial 1937 release. Comscore determined that since its debut, around 109 million tickets have been sold. At today’s average ticket price, the film would have made nearly $1 billion in the U.S.

“Snow White and the Seven Dwarfs” tells the tale of an young princess who has been exiled into the dangerous forest by her wicked stepmother and rescued by seven dwarf miners who make her part of their household. Disney

9. The Exorcist (1973)

Estimated admissions: 116.5 million tickets

Estimated adjusted gross: $1.04 billion One of only six horror films to be nominated for the Academy Award for best picture, “The Exorcist” has hauled in more than $232.9 million since its 1973 debut. The film made the bulk of its money during its initial release. It was brought back to theaters in 2000 and 2010 with extended scenes. Adjusted for today’s ticket prices, “The Exorcist,” which sold an estimated 116.5 million tickets, would have made around $1.04 billion.

Swedish actor Max von Sydow performs a exorcism in a scene from the film The Exorcist. The little girl in the bed is actress Linda Blair. Bettmann | Bettmann | Getty Images

8. Doctor Zhivago (1965)

Estimated admissions: 124.6 million tickets

Estimated adjusted gross: $1.12 billion Released only in 1965, “Doctor Zhivago” earned $112.1 million during its run in theaters and won five Academy Awards. It’s estimated that around 124.6 million tickets were sold for the film. Adjusted for today’s ticket prices, that would be around $1.12 billion at the box office.

“Doctor Zhivago” is a film about the life of a Russian physician and poet who, although married to another, falls in love with a political activist’s wife and experiences hardship during World War I and then the October Revolution. Warner Media / Metro-Goldwyn-Mayer (MGM)

7. Jaws (1975)

Estimated admissions: 128 million tickets

Estimated adjusted gross: $1.15 billion Steven Spielberg’s “Jaws” was released in theaters in 1975 and earned $260 million. Like “The Exorcist” it is one of six horror movies to be nominated for best picture. It did not win the award, however. Comscore estimates that around 128 million tickets were sold during the film’s run. Adjusted for today’s ticket prices, the film would have earned around $1.15 billion at the box office.

American actors Murray Hamilton, Roy Scheider, and Richard Dreyfuss on the set of Jaws, directed by Steven Spielberg. Sunset Boulevard | Corbis Historical | Getty Images

6. The Ten Commandments (1956)

Estimated admissions: 131 million tickets

Estimated adjusted gross: $1.18 billion The 3-hour-and-40-minute feature debuted in 1956 and earned $65.5 million. The iconic film, which featured famed actors Charlton Heston as Moses and Yul Brynner as Rameses II, sold an estimated 131 million tickets during its run. Adjusted for today’s ticket prices, the film would have earned around $1.18 billion at the U.S. box office.

American actor Charlton Heston on the set of The Ten Commandments, directed by Cecil B. DeMille. Sunset Boulevard | Corbis Historical | Getty Images

5. Titanic (1997)

Estimated admissions: 143.5 million tickets

Estimated adjusted gross: $1.29 billion “Titanic” is regarded as one of the best films in industry history and is also one of the highest-grossing. Without adjusting for inflation, James Cameron’s masterpiece is the sixth highest-grossing film in the U.S. and the third-highest grossing film globally. The film has been rereleased twice in addition to its initial run, once in 3D and once to celebrate its 20th anniversary. During those runs, the film earned $658.6 million domestically. It’s estimated that “Titanic” sold around 143.5 million tickets. Adjusted for today’s ticket prices, the film would have earned around $1.29 billion at the U.S. box office.

Kate Winslet offers her hand to Leonardo DiCaprio in a scene from the film ‘Titanic’, 1997. 20th Century-Fox | Getty Images

4. E.T. the Extra-Terrestrial (1982)

Estimated admissions: 147.9 million tickets

Estimated adjusted gross: $1.33 billion The four-time Academy Award-winning “E.T.” hauled in $434.9 million since it was first released in 1982. Although it was rereleased twice, once in 1985 and once in 2002, the film made the bulk of its earnings during its debut. “E.T.” sold an estimated 147.9 million tickets, which translated to around $1.33 billion in ticket sales using today’s average ticket price.

Henry Thomas talking with ET in a scene from the film ‘E.T. The Extra-Terrestrial’, 1982. Archive Photos | Moviepix | Getty Images

3. The Sound of Music (1965)

Estimated admissions: 157.2 million tickets

Estimated adjusted gross: $1.41 billion “The Sound of Music” was released twice in theaters. Once was its 1965 debut, where it made the bulk of its $158.8 million haul in the U.S., the other was a 2018 rerelease. Comscore estimated that the film, which won five Academy Awards, sold around 157.2 million tickets. That is around $1.41 billion when adjusted for today’s ticket prices.

Julie Andrews portrays Maria von Trapp in a scene from the popular movie musical of 1965, The Sound of Music. Bettmann | Bettmann | Getty Images

2. Star Wars (1977)

Estimated admissions: 178.1 million tickets

Estimated adjusted gross: $1.6 billion 1977’s blockbuster “Star Wars” has been reissued at least twice since its initial debut and has earned $460.9 million at the U.S. box office. In the last four decades, the film has sold an estimated 178.1 million tickets, which equates to around $1.6 billion at the modern domestic box office.

American actors Mark Hamill, Carrie Fisher and Harrison Ford on the set of Star Wars: Episode IV – A New Hope written, directed and produced by Georges Lucas. Sunset Boulevard | Corbis Historical | Getty Images

1. Gone with the Wind (1939)

Estimated admissions: 201 million tickets

Estimated adjusted gross: $1.81 billion “Gone With the Wind” has been rereleased at least seven times since its initial debut in 1939, Comscore said. During that time, it has grossed around $203 million. However, its popularity has resulted in more than 201 million tickets being sold in the last 80 years. If all of those tickets had been bought today, the film would have grossed around $1.8 billion at the domestic box office.


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: sarah whitten
Keywords: news, cnbc, companies, box, adjusted, hollywood, sold, inflation, doesnt, million, billion, adjust, ticket, ticketsestimated, highestgrossing, tickets, gross, film, films, office


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The economic signs are moving against the Fed’s expected rate cut: ‘It just doesn’t smell right’

Justifying a policy easing against that kind of a backdrop might be tricky for the Fed, even though markets fully expect a cut this month plus perhaps two more before the end of the year. But this is not a normal time in the world of monetary policy, and the Fed is likely to follow though despite the solid economic signals. “It just doesn’t smell right given the strength of the economic data,” said Chris Rupkey, chief financial economist at MUFG Union Bank. Indeed, the latest data points to soli


Justifying a policy easing against that kind of a backdrop might be tricky for the Fed, even though markets fully expect a cut this month plus perhaps two more before the end of the year. But this is not a normal time in the world of monetary policy, and the Fed is likely to follow though despite the solid economic signals. “It just doesn’t smell right given the strength of the economic data,” said Chris Rupkey, chief financial economist at MUFG Union Bank. Indeed, the latest data points to soli
The economic signs are moving against the Fed’s expected rate cut: ‘It just doesn’t smell right’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: jeff cox
Keywords: news, cnbc, companies, fed, sales, expected, solid, right, signs, smell, moving, cut, feds, doesnt, economic, policy, monetary, easing, data, rate


The economic signs are moving against the Fed's expected rate cut: 'It just doesn't smell right'

If the Federal Reserve follows through on strong hints that it will be cutting interest rates in late July, it will do so in the face of a powerful consumer, a record-breaking stock market and an increasingly difficult case to make for easier monetary policy.

Justifying a policy easing against that kind of a backdrop might be tricky for the Fed, even though markets fully expect a cut this month plus perhaps two more before the end of the year. The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a slowdown are in view.

But this is not a normal time in the world of monetary policy, and the Fed is likely to follow though despite the solid economic signals.

“It just doesn’t smell right given the strength of the economic data,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “The consumer is back in a big way. You really have to ask yourself why they are going to cut rates.”

Indeed, the latest data points to solid consumers, who accounted for 67.4% of economic activity in the first quarter.

Retail sales rose 0.4% in June, according to Commerce Department figures that easily topped the 0.1% expected gain. On a year-over-year basis, sales increased 3.4%.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: jeff cox
Keywords: news, cnbc, companies, fed, sales, expected, solid, right, signs, smell, moving, cut, feds, doesnt, economic, policy, monetary, easing, data, rate


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Sen. Sherrod Brown slams Facebook’s crypto plans: ‘It doesn’t deserve our trust’

Sen. Sherrod Brown came out swinging at Facebook on Tuesday to kick off the Senate Banking Committee hearing on the company’s new cryptocurrency project, Libra. “Facebook is dangerous,” the Ohio Democrat and ranking committee member began his opening statement. Brown repeatedly referenced what he called Facebook’s “competing missions” to make the world more connected and to make money for themselves. “Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust. It s


Sen. Sherrod Brown came out swinging at Facebook on Tuesday to kick off the Senate Banking Committee hearing on the company’s new cryptocurrency project, Libra. “Facebook is dangerous,” the Ohio Democrat and ranking committee member began his opening statement. Brown repeatedly referenced what he called Facebook’s “competing missions” to make the world more connected and to make money for themselves. “Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust. It s
Sen. Sherrod Brown slams Facebook’s crypto plans: ‘It doesn’t deserve our trust’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: lauren feiner
Keywords: news, cnbc, companies, crypto, facebooks, world, toddler, called, treated, doesnt, deserve, dangerous, sherrod, brown, slams, facebook, plans, trust, scandal, committee, sen


Sen. Sherrod Brown slams Facebook's crypto plans: 'It doesn't deserve our trust'

Sen. Sherrod Brown came out swinging at Facebook on Tuesday to kick off the Senate Banking Committee hearing on the company’s new cryptocurrency project, Libra.

“Facebook is dangerous,” the Ohio Democrat and ranking committee member began his opening statement. “Now Facebook may not intend to be dangerous, but surely they don’t respect the power of the technologies they’re playing with. Like a toddler who has gotten his hands on a book of matches, Facebook has burned down the house over and over and called every arson a learning experience.”

Brown repeatedly referenced what he called Facebook’s “competing missions” to make the world more connected and to make money for themselves.

“Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust. It should be treated like the profit-seeking corporation it is, just like any other company,” Brown said.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: lauren feiner
Keywords: news, cnbc, companies, crypto, facebooks, world, toddler, called, treated, doesnt, deserve, dangerous, sherrod, brown, slams, facebook, plans, trust, scandal, committee, sen


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Facebook will never break through with Oculus, says one of the VR company’s co-founders

But one of the company’s six co-founders now doubts Oculus will ever break through. Jack McCauley told CNBC he doesn’t think there’s a real market for VR gaming. With Facebook positioning its Oculus devices primarily as gaming machines, McCauley doesn’t believe there’s much of a market for the device. “If we were gonna sell, we would’ve sold,” McCauley said in a phone interview on Wednesday. The Oculus Quest, which was released this May, has sold nearly 1.1 million units while the Oculus Rift ha


But one of the company’s six co-founders now doubts Oculus will ever break through. Jack McCauley told CNBC he doesn’t think there’s a real market for VR gaming. With Facebook positioning its Oculus devices primarily as gaming machines, McCauley doesn’t believe there’s much of a market for the device. “If we were gonna sell, we would’ve sold,” McCauley said in a phone interview on Wednesday. The Oculus Quest, which was released this May, has sold nearly 1.1 million units while the Oculus Rift ha
Facebook will never break through with Oculus, says one of the VR company’s co-founders Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: salvador rodriguez
Keywords: news, cnbc, companies, mccauley, vr, million, doesnt, market, theres, break, sold, game, facebook, companys, oculus, units, cofounders


Facebook will never break through with Oculus, says one of the VR company's co-founders

Jack McCauley was one of the six Oculus co-founders, but he’s also one of its biggest bears, telling CNBC he doesn’t think there’s a market for virtual reality video gaming.

Five years after its $2 billion purchase of Oculus, Facebook is still pushing forward in its efforts to bring virtual reality to a mainstream audience.

But one of the company’s six co-founders now doubts Oculus will ever break through.

Jack McCauley told CNBC he doesn’t think there’s a real market for VR gaming. With Facebook positioning its Oculus devices primarily as gaming machines, McCauley doesn’t believe there’s much of a market for the device.

“If we were gonna sell, we would’ve sold,” McCauley said in a phone interview on Wednesday.

McCauley, who left Oculus in November 2015, said sales of the devices he worked on were modest. The original DK1, released in 2013 sold 70,000 units while the follow-up DK2 from 2014 sold 150,000, he recalled.

Sales have grown with newer devices, but Oculus has yet to have a hit.

The $199 Oculus Go has sold a little more than 2 million units since its release in May 2018, according to estimates provided by market research firm SuperData, a Nielsen company. The Oculus Quest, which was released this May, has sold nearly 1.1 million units while the Oculus Rift has sold 547,000 units since the start of 2018, according to SuperData.

For comparison, Sony sold 17.8 million PlayStation 4 units during its 2018 fiscal year while Nintendo sold nearly 17 million Switch units during its 2018 fiscal year. Microsoft doesn’t break out Xbox One unit sales.

In May, Facebook released two new headsets, the untethered $399 Oculus Quest and the computer-powered $399 Oculus Rift S. The tech company is also looking to buy up game studios and secure exclusive deals to beef up Oculus’s game library, according to a report this week by The Information.

But McCauley, who worked on the two developer versions of the Oculus and stayed through Facebook’s acquisition of the company in March 2014, said there are a lot of fundamental issues that remain unsolved with VR gaming.

Primarily, many people still get nauseated when they put on a VR headset, McCauley said. And many people prefer to play video games alongside their friends on a 2-D display, McCauley added.

“Video games have not evolved into a 3-D experience for a number of reasons,” he said. “I don’t know what kind of application it would be for VR that would keep players plugged in for six hours like they do with game consoles.”

McCauley speaks as a long-time veteran of the video game industry — he worked on “Guitar Hero” for Activision, the Xbox 360 for Microsoft and at Electronic Arts before co-founding Oculus.

“You put it on, and there’s a lot of ‘Wow!’ to it, but then what do you do with it?” McCauley said. “Even when I was there I thought people weren’t going to wear a headset and walk around with it in public.”

Facebook has enough money to keep investing in Oculus as it has for the past five years, but McCauley thinks that would be throwing good money after bad.

“I may be wrong, but I’ve been doing this a long time,” he said. “I’ve already done a lot of what people do mistake-wise. You have your gut, and it tells you if you’re right or wrong. And in this case I think I’m right.”

Since leaving in November 2015, McCauley has enjoyed a semi-retired life. He’s an innovator in residence at Berkeley’s Jacobs Institute of Design Innovation and he continues to build all sorts of devices, such as a gun capable of shooting down drones, at his own research and development facility.

Facebook declined to comment.

WATCH: CNBC interview with Oculus co-founder Palmer Luckey


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: salvador rodriguez
Keywords: news, cnbc, companies, mccauley, vr, million, doesnt, market, theres, break, sold, game, facebook, companys, oculus, units, cofounders


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