Business Briefs: Verizon, Apple, Lyft

Posted: Updated:
NEW YORK -

Verizon is getting a new chief. The current CEO is stepping down and Hans Vestberg will be named the new CEO. Vestberg was previously CEO of Swedish telecomm company Ericsson and only joined Verizon about a year ago. He will take over on Aug. 1 as Verizon works to stay ahead in the competitive industry.

The demand for iPhones may be dying out. Apple reportedly told suppliers to make 20 percent fewer parts for iPhones in the second half of this year. The company is still ready to ship 80 million phones as it prepares to launch three more new iPhones later this year.

Lyft wants you to share your ride. The company is revamping its mobile app to encourage people to take more rides together with the goal of having 50 percent of Lyft rides shared by 2020. Right now, that number is at about 35 percent. Lyft will also be changing the name of its carpooling service from Lyft Line to shared rides. The updates will be rolling out over the next month.

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