The difficult relationship between Google and Facebook and traditional journalism outlets is based on the fact that the former has control over digital advertising and distribution, disempowering the latter. Now, the News Media Alliance, that industry’s main trade group, is working to win collective bargaining rights with the digital titans they are forced to depend on, asking Congress for a limited antitrust exemption to do so. Experts give the effort long-shot odds, but news media industry is determined to proceed. Continue reading News Media Unite for Collective Bargaining with Tech Titans

Apple became the first U.S. company to cross the $800 billion barrier in market capitalization when it reached $802.72 billion yesterday (on Monday it reached $801.37 billion but dropped below $800 billion by the close). The company reached $600 billion in 2012 and $700 billion in 2015. “Google parent Alphabet Inc. is currently in second place at $658.60 billion, according to FactSet,” reports MarketWatch. “Microsoft Corp. is third, nearly $270 billion behind Apple at $533.02 billion.” Amazon.com is presently holding at $455.42 billion. Investors are optimistic about Apple’s plans to launch three new iPhones later this year to celebrate the product’s 10-year anniversary. Continue reading Milestone: Apple Is First Company to Top $800 Billion Value

British voters cast their ballots yesterday regarding the United Kingdom’s Brexit referendum, and surprising to many, the country has opted to exit the European Union. Shortly after the results were announced, British Prime Minister David Cameron announced he would resign his position later this year, while leaders in Northern Ireland and Scotland have indicated they will seek independence referendums in order to reenter the EU. The immediate response has been a dramatic ripple effect in markets worldwide with expectations for future uncertainty and potential crises. The tech industry, which often benefits from the EU’s liberal trade and economic policies, will likely be impacted. Continue reading Global Markets React to UK’s Decision to Exit European Union

News Corp. is planning a social networking expansion of its Wall Street Journal website, which will transform the site into a platform intended for more than simply delivering news. Lex Fenwick, CEO of Dow Jones, described the company’s plans during an investor day earlier this week. The focal point of the platform is a feature called WSJ Profile, which allows users to post what is essentially a digital resume and features social functions that could compete with LinkedIn. Continue reading News Corp. to Launch Social Network for Wall Street Journal