Why Facebook and Apple are fighting over your privacy
CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, CNBC's Julia Boorstin delves deep into the privacy fight between Apple and Facebook, and how consumers feel about the two different approaches to personal data. Plus, CNBC's digital video team takes a look at the future of the F-35 — the cutting-edge stealth fighter from Lockheed Martin.
Here's what else we're watching:
Goldman's junior bankers complain of crushing workload amid SPAC-fueled boom in Wall Street deals
Junior investment bankers at Goldman Sachs are suffering burnout from 100-hour work weeks and demanding bosses during a SPAC-fueled boom in deals, according to an internal survey done by a group of first-year analysts.
The surge in activity has taken a serious toll on analysts' mental and physical health since at least the start of the year, according to slides released to social media and authenticated by people with knowledge of the matter.
"The sleep deprivation, the treatment by senior bankers, the mental and physical stress … I've been through foster care and this is arguably worse," one Goldman analyst said, according to the February survey of 13 employees.
NFL finalizes new 11-year media rights deal, Amazon gets exclusive Thursday Night rights
The National Football League has finalized its new 11-year media rights agreement with a pact that will run through 2033 and could be worth over $100 billion.
The league announced Thursday it's renewing TV rights with all of its existing broadcast partners and adding Amazon Prime Video as an exclusive partner for its Thursday Night Football package. It's the first time a streaming service will carry a full package of games exclusively. Amazon is paying about $1 billion per year, according to people familiar with the matter. All the packages are for 11 years, the league said.
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ViacomCBS, Fox and Comcast (which owns NBCUniversal) are all paying more than $2 billion per year for their packages, while Disney (which owns ESPN and ABC) will pay around $2.7 billion annually, according to people familiar with the matter. Using these numbers, the NFL's new agreement projects to be more than $100 billion — the richest U.S. sports league media deal.
Nasdaq tumbles 3% as soaring yields hit tech shares, S&P 500 closes 1.5% lower
Technology shares led the U.S. stock market lower on Thursday as a spike in bond yields fueled concern about equity valuations and prompted investors to sell growth-focused high flyers.
The Nasdaq Composite dropped 3% to 13,116.17 for its worst day since Feb. 25 as Apple, Amazon and Netflix all fell more than 3%. Tesla slipped nearly 7%. The S&P 500 slid 1.5% to 3,915.46, falling from a record closing high reached in the previous session. The Dow Jones Industrial Average fell 153.07 points, or 0.5%, to 32,862.30 after hitting a new intraday record earlier in the day amid a rally in bank stocks.
Facebook grows in Oregon with data center, fiber-optic cable
Facebook Teases Technology That Allows Your Brain To Control A Computer
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