Here are five things you must know for Friday, Dec. 29:
1. -- The Dow Sets Yet Another Record
2. -- Apple Apologizes
Apple Inc. (AAPL) apologized and said it would offer discounted battery replacements for older model iPhones after users discovered that the company's operating system updates deliberately slowed down the devices.
Apple said the operating system changes were made to avoid sudden shutdowns of devices as their batteries age. But some users complained that the degraded speeds actually served as an underhanded trick to drive people to upgrade to a newer phone.
Apple denied that. "We have never -- and would never -- do anything to intentionally shorten the life of any Apple product, or degrade the user experience to drive customer upgrades," the company said in a statement.
Nevertheless, Apple said it would cut the price of replacement batteries for anyone with an iPhone 6 or later to $29 from $79 starting in late January. The company also said it would update its operating system to give users "more visibility into the health of their iPhone's battery.
Apple shares rose slightly in premarket trading.
3. -- SoftBank Buys Big Stake in Uber
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4. -- Higher Exec Salaries at Netflix
Netflix's chief content officer, Ted Sarandos, will earn a $12 million base salary in 2018, after making just $1 million in each of the past three years, The Wall Street Journal reported, citing a filing with the Securities and Exchange Commission.
CEO Reed Hastings will earn $700,000 in salary in 2018, with $28.7 million in annual stock options, continuing a pattern of decreasing annual salaries and increasing stock awards, the Journal noted. In 2017, Hastings had a salary of $850,000 and a stock allocation of $21.2 million.
5. -- SandRidge Nixes Bonanza Creek Deal