• Diversity is a $1.5 trillion economic opportunity in the US: former Unilever CEO
    Yahoo Finance

    Diversity is a $1.5 trillion economic opportunity in the US: former Unilever CEO

    One long-time champion of conscious capitalism says way more needs to be done by business leaders on equality. It's just the right thing to do for all parties involved.

  • Facebook is shutting down Lasso, its TikTok clone
    TechCrunch

    Facebook is shutting down Lasso, its TikTok clone

    Facebook is no longer betting on Lasso, an app it launched a year and a half ago, to take on TikTok . The social juggernaut's TikTok clone is shutting down on July 10, Lasso alerted users on Wednesday. Launched in late 2018, Lasso was seen as Facebook’s answer to TikTok that's gained ground with young users, both in China and in the West.

  • Why Pinterest Shot as Much as 5.5% Higher on Thursday
    Motley Fool

    Why Pinterest Shot as Much as 5.5% Higher on Thursday

    Pinterest (NYSE: PINS) rose as much as 5.5% on Thursday before settling down to close 3.6% higher. The online hobby-posting company continued to benefit from the news that social media behemoth Facebook (NASDAQ: FB) is shuttering Hobbi, its experimental Pinterest-like pinning app. Facebook rolled out Hobbi in February, promising users the ability to "capture and organize your creative process."

  • Facebook Under Fire as Companies Pause Social Media Ads: List
    Bloomberg

    Facebook Under Fire as Companies Pause Social Media Ads: List

    (Bloomberg) -- Here’s a list of companies that are planning to halt spending on social media. Some have joined a boycott of Facebook Inc. after critics accused the social network of inadequately policing hateful and misleading content on its platform:Harley Davidson Inc. -- The motorcycle maker said in an email it was pausing Facebook ads in July “to stand in support of efforts to stop the spread of hateful content.” Pernod Ricard SA -- The French distiller of Jameson whiskey and Absolut vodka, which spends more than 1.5 billion euros ($1.69 billion) on advertising annually, is boycotting Facebook and some other U.S. sites through July 31 and working with partners on an app to help victims of online abuse.Daimler AG -- The Mercedes-Benz maker is pausing its paid advertising on Facebook platforms in July, while adding that it expects to the relationship to resume because it’s confident the social-media company will take “necessary steps.”Molson Coors Beverage Co. -- The brewer is choosing to pause advertising on Facebook, Instagram and Twitter while it reviews its own standards and ways to protect the brands and guard against hate speech, Chief Marketing Officer Michelle St. Jacques said in an internal email.Constellation Brands -- The maker of Corona beer and Kim Crawford wines is pausing Facebook ads for the month of July.Dunkin’ Brands Group -- The donut chain is temporarily pausing its paid media on Facebook and Instagram, a spokesperson says, adding that it’s in discussions with Facebook about efforts to stop hate speech and thwart “the spread of “racist rhetoric and false information.”Lego A/S -- Stopping all advertising on social media for at least 30 days to review its standards and will “invest in other channels” during that time.The Body Shop -- The beauty chain says it’s halting paid activity on all Facebook channels and asking the social-media company to enhance and enforce its content-moderation policies.Starbucks Corp. -- Pausing advertising on all social media platforms. Will post on social media without paid promotion.Microsoft Corp. -- Paused global advertising spending on Facebook and Instagram because of concerns about ads appearing next to inappropriate content, according to a person familiar with the matter.Unilever Plc -- Halting advertising on Facebook, Instagram and Twitter in the U.S. through Dec. 31.Volkswagen AG -- The ad stop on Facebook affects the direct ad accounts of the German manufacturer’s brands, including Porsche, Audi and Lamborghini. VW, its ad agencies and the Anti Defamation League will enter talks with Facebook over how to deal with hate speech, discrimination and false information, according to an emailed statement.Mars -- Starting in July, a pause on paid advertising globally across social-media platforms, including Facebook, Instagram, Twitter and Snapchat.Target Corp. -- Pausing ads on Facebook in July.Coca-Cola Co. -- Pausing advertising on all social media platforms.Clorox Co. -- Will stop advertising spending with Facebook through December.Conagra Brands Inc. -- Will stop advertising in U.S. on Facebook and Instagram through the rest of the year.Ford Motor Co. -- Halting U.S. social media for 30 days, won’t purchase social media ads for Bronco unveiling.Honda Motor Co. -- “For the month of July, Honda will withhold its advertising on Facebook and Instagram, choosing to stand with people united against hate and racism.” Acura, a Honda brand, said in a tweet that it was “choosing to stand with people united against hate and racism.”Hershey Co. -- Will halt spending on Facebook in July and cut its spend on the platform by a third for the remainder of the year, according to Business Insider.Diageo Plc -- Pausing paid advertising globally on major social media platforms beginning in July.PepsiCo Inc. -- Pulling ads on Facebook from July through August.Verizon Communications Inc. -- “We’re pausing our advertising until Facebook can create an acceptable solution that makes us comfortable and is consistent with we’ve done with YouTube and other partners,” said John Nitti, chief media officer for Verizon.SAP SE -- “We will suspend all paid advertisements across Facebook and Instagram until the company signals a significant, action-driven commitment to combatting the spread of hate speech and racism on its platforms.”Levi Strauss & Co. -- Pausing all paid Facebook and Instagram advertising globally and across all brands through July.Diamond Foundry Inc. -- Pulling all of advertising from Facebook, including Instagram, for the month of July.Patagonia Inc. -- Will pull all ads on Facebook and Instagram, effective immediately, through at least the end of July, pending meaningful action from Facebook.Viber Media Inc. -- The messaging service, owned by Japanese conglomerate Rakuten, plans to cut ties with the social network entirely, according to the Guardian.VF Corp. -- The North Face will pause ads on Facebook for the month of July. Vans, another VF brand, will also pull ad dollars from Facebook and Instagram next month, and said it will use the money to support Black communities through empowerment and education programs.REI -- “For 82 years, we have put people over profits. We’re pulling all Facebook/Instagram advertising for the month of July.”Upwork Inc. -- No Facebook advertising in July.Eileen Fisher Inc. -- Pulling ads from Facebook through July.Adidas AG -- Will stop ads on Facebook and Instagram internationally through July, according to Adweek.Puma SE -- Will stop all advertisements on Facebook and Instagram throughout July.Madewell Inc. -- Will pause ads on Facebook and Instagram through July.Pfizer Inc. -- Removing all advertising from Facebook and Instagram in July, calls on Facebook to heed the concerns of the StopHateForProfit boycott campaign “and take action.”Chipotle Mexican Grill Inc. -- To pause Facebook advertising beginning July 1, according to an email.Chobani -- The Greek-yogurt company paused all paid social-media advertising.Peet’s Coffee -- Paused advertising on Facebook.(Updates with Harley Davidson)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Nasdaq Soars into 4th of July Weekend at Fresh All-Time Highs
    Zacks

    Nasdaq Soars into 4th of July Weekend at Fresh All-Time Highs

    The Dow, Nasdaq and S&P were all up for the week. The Nasdaq closes the week at a new all-time high of 10,207.63.

  • Nasdaq Hits New Records as Tesla Delivers, Keeps Soaring
    Motley Fool

    Nasdaq Hits New Records as Tesla Delivers, Keeps Soaring

    The Nasdaq exchange has had some of the most exciting companies in the stock market, and they've helped to make the Nasdaq the first major market benchmark to reach new highs. There are plenty of stocks listed on the Nasdaq that have seen impressive gains lately. Shares of Tesla finished the day up around 8%, adding to big gains throughout the week.

  • Why Amazon Shares Rose 13% in June
    Motley Fool

    Why Amazon Shares Rose 13% in June

    Amazon.com (NASDAQ: AMZN) shares rose 13% in June, according to data provided by S&P Global Market Intelligence. Amazon stood out early in the crisis as a stock to buy as consumers stockpiled their pantries with essentials and opted for online shopping. At the same time, Amazon Web Services (AWS), the company's cloud-computing business, saw demand linked to the outbreak as well.

  • Elon Musk Taunts the SEC Amid Surge in Tesla Stock Price
    Bloomberg

    Elon Musk Taunts the SEC Amid Surge in Tesla Stock Price

    (Bloomberg) -- Elon Musk provoked the U.S. Securities and Exchange Commission in the course of taking a victory lap on Twitter over Tesla Inc.’s surging share price.The chief executive officer first taunted short sellers in a string of tweets, writing that the electric-car maker would “make fabulous short shorts in radiant red satin with gold trim.” That’s an apparent reference to jokes he’s repeatedly made about sending “short shorts” to investors who bet against Tesla’s shares, such as hedge fund manager David Einhorn.Musk, 49, then wrote Thursday that he would send shorts to the SEC, referring to the agency again as the “Shortseller Enrichment Commission.” He first used that phrase in October 2018 after the regulator sued him for securities fraud.Musk then tweeted a cryptic but profane play on the agency’s initials, prompting Ross Gerber, a fund manager who regularly engages with him on Twitter, to write back: “Dangerous.” Musk responded: “But sooo satisfying.”Musk and the SEC have a combative history. The agency sued him in September 2018 over tweets he sent a month earlier claiming that he had secured funding to take Tesla private at $420 a share. As part of a settlement agreement, Musk was required to pay a $20 million fine, step down as Tesla’s chairman for three years and have some of his tweets pre-approved by a company lawyer.The SEC took Musk back to court last year after he failed to clear a tweet about Tesla’s production with his in-house counsel. The two sides eventually agreed to amend the earlier settlement to add specific topics the billionaire can’t tweet about or otherwise communicate in writing without advance approval.Hours after a federal judge signed off on the amended deal in April 2019, then-SEC Commissioner Robert Jackson publicly criticized it, saying in a statement that Musk had not been sufficiently punished for failing to adhere to restrictions on his social media use.In December 2018, Musk told “60 Minutes” that he did not respect the SEC. A spokesperson for the agency declined to comment on his latest tweets.Tesla disclosed in February that the SEC sent the company a subpoena regarding “certain financial data and contracts” including “regular financing arrangements.” One analyst speculated the regulator may have been looking into how the company managed to build an assembly plant near Shanghai last year while spending just $1.3 billion on capital expenditures.A better-than-expected quarterly deliveries report sent Tesla’s shares surging 8% to a record close of $1,208.66 on Thursday. The stock has almost tripled this year.(Updates with additional tweets in the fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Why Genius Brands Stock Skyrocketed Today
    Motley Fool

    Why Genius Brands Stock Skyrocketed Today

    Shares of the children's entertainment company rose in anticipation of a surprise announcement Monday.

  • Bloomberg

    Zuckerberg to Meet Civil Rights Groups That Led Facebook Boycott

    (Bloomberg) -- Facebook Inc. Chief Executive Officer Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg will meet with at least three civil rights groups on Tuesday after their organizations led an advertising boycott of the social media giant.The Facebook executives will meet with Anti-Defamation League Chief Executive Officer Jonathan Greenblatt, Color of Change President Rashad Robinson and Derrick Johnson, chief executive officer of the National Association for the Advancement of Colored People, a Facebook spokesman confirmed.Facebook and the groups didn’t disclose further details of the meeting.Facebook reached out to the civil rights groups last week to arrange a meeting with Sandberg and Chief Product Officer Chris Cox, a company spokesman said. The civil rights groups said they wanted Zuckerberg to be at the meeting and he later confirmed he would attend, the spokesman added.Starbucks Corp., Levi Strauss & Co., PepsiCo Inc. and Diageo Plc were among the most recent companies to say they’re curtailing ad spending, part of an exodus aimed at pushing Facebook and its peers to suppress posts that glorify violence, divide and misinform the public, and promote racism and discrimination.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Boeing to Wind Down 747 Production, a Report Says
    Motley Fool

    Boeing to Wind Down 747 Production, a Report Says

    Boeing (NYSE: BA) reportedly plans to wind down production of its massive 747 jumbo jet, the end of an era for double-decker jets as airlines focus on smaller, more fuel-efficient aircraft. The company has not yet made the decision official, but Bloomberg reported the last 747-8 will roll off Boeing's assembly line in about two years. While the timing of Boeing's decision is new, the fate of the 747 has been obvious for a while.

  • Here's Why Microsoft Stock Was Up 11% in June
    Motley Fool

    Here's Why Microsoft Stock Was Up 11% in June

    Shares of Microsoft Corporation (NASDAQ: MSFT) increased another 11.1% in June, according to data provided by S&P Global Market Intelligence. With investments in personal computers, cloud, and video games, Microsoft continued to excel even while people were sheltering at home during the coronavirus pandemic. Microsoft has been so successful that it's closing physical retail locations for good.

  • Why Shares of Plug Power Skyrocketed 95% in June
    Motley Fool

    Why Shares of Plug Power Skyrocketed 95% in June

    After rising a nominal 0.6% in May, shares of Plug Power (NASDAQ: PLUG) were supercharged in June, racing 90.5% higher according to data from S&P Global Market Intelligence. Whereas it had originally targeted revenue of $1 billion and adjusted EBITDA of $200 million for 2024, the addition of United Hydrogen Group and Giner ELX led management to upwardly revise its those forecasts to $1.2 billion and $250 million, respectively.

  • Dow Jones Rises on Jobs Report; Apple and McDonald's Hit the Brakes; Exxon Discloses Big Earnings Hit; Boeing's 737 Max Certification Flights Complete
    Motley Fool

    Dow Jones Rises on Jobs Report; Apple and McDonald's Hit the Brakes; Exxon Discloses Big Earnings Hit; Boeing's 737 Max Certification Flights Complete

    The Dow's rally drove shares of Apple (NASDAQ: AAPL), McDonald's (NYSE: MCD), ExxonMobil (NYSE: XOM), and Boeing (NYSE: BA) higher despite mixed news. Apple and McDonald's pulled back on store reopening plans due to a surge in COVID-19 cases, Exxon disclosed that it would take a large earnings hit in the second quarter, and the FAA completed certification test flights for Boeing's 737 Max.

  • 2 Things to Know About NVIDIA’s Mercedes-Benz Deal
    Motley Fool

    2 Things to Know About NVIDIA’s Mercedes-Benz Deal

    NVIDIA (NASDAQ: NVDA) and the Mercedes-Benz division of Daimler AG (OTC: DMLRY) (OTC: DDAIF) are teaming up to truly build a computer on wheels. The two companies recently announced a collaboration to build a new computing system for cars, powered by NVIDIA's DRIVE AGX Orin technology. This new high-performance car computer will be used in new vehicles from Mercedes-Benz starting in 2024.

  • Boeing Quietly Pulls Plug on the 747, Closing Era of Jumbo Jets
    Bloomberg

    Boeing Quietly Pulls Plug on the 747, Closing Era of Jumbo Jets

    (Bloomberg) -- Boeing Co. hasn’t told employees, but the company is pulling the plug on its hulking 747 jumbo jet, ending a half-century run for the twin-aisle pioneer.The last 747-8 will roll out of a Seattle-area factory in about two years, a decision that hasn’t been reported but can be teased out from subtle wording changes in financial statements, people familiar with the matter said.It’s a moment that aviation enthusiasts long have dreaded, signaling the end of the double-decker, four-engine leviathans that shrank the world. Airbus SE is already preparing to build the last A380 jumbo, after the final convoy of fuselage segments rumbled to its Toulouse, France, plant last month.Yet for all their popularity with travelers, the final version of the 747 and Europe’s superjumbo never caught on commercially as airlines turned to twin-engine aircraft for long-range flights. While Boeing’s hump-nosed freighters will live on, the fast-disappearing A380 risks going down as an epic dud.The grand jetliners also face another indignity: The Covid-19 pandemic threatens to leave their manufacturers scrounging to find buyers for the last jumbos built.“As it turned out, the number of routes for which you need an ultralarge aircraft are incredibly few,” said Sash Tusa, an analyst with Agency Partners.Boeing’s “Queen of the Skies” debuted in 1970, an audacious bet that transformed travel but almost bankrupted the company. Passenger versions boasted a spiral staircase to a luxurious upstairs lounge. Freighter models featured a hinged nose that flipped open to load everything from cars to oil-drilling gear. The 747 went on to rack up 1,571 orders over the decades -- second among wide-body jets only to Boeing’s 777.The millennial-era A380 could haul as many as 853 travelers and reflected Europe’s lofty aerospace ambition. But by the time it arrived in 2007, airlines were already tilting to smaller planes that burned less fuel.Boeing correctly anticipated the trend with the twin-engine 777 and the 787 Dreamliner. With prodding from Joe Sutter, a famed engineer who’d led the original 747 program, the planemaker decided to develop a relatively inexpensive upgrade of the four-engine plane to steal sales from the A380.The strategy would have been successful, had the 747-8 not been bedeviled by early mismanagement, blowing its budget and deadlines, said Richard Aboulafia, an analyst with Teal Group.The Chicago-based company has lost about $40 million for each 747 since 2016, when it slowed production to a trickle, making just six jets a year, Jefferies analyst Sheila Kahyaoglu estimated. All told, Boeing has recorded $4.2 billion in accounting charges for the 747-8, which has been kept alive as a freighter. The 747 notched its last order as a passenger jet in 2017 -- for Air Force One.Boeing’s jumbo freighters will continue to ply the skies for decades after production stops, said Aboulafia. But he’s dropped the passenger-only A380 from his forecasts.“It’s going to have the shortest lifespan of any type in history,” Aboulafia predicted. “I’d be shocked if there’s still an A380 in service in 2030.”Airbus disagreed. “We will see the A380 continue flying for many years,” the planemaker said by email.But the coronavirus pandemic is hastening the end of the behemoths as people movers. With travel not expected to fully recover until mid-decade, airlines are culling aging jetliners and four-engine jumbos from fleets to limit spending. About 91% of 747s and 97% of A380s are parked, Credit Suisse estimated last month.Air France, Lufthansa, and Qatar Airways are among carriers weighing whether to ground their A380s permanently or are preparing to do so. Airbus has just nine of the planes still be delivered. All but one of them are tagged for Emirates Airline, the largest A380 operator, which is considering whether to scrap its final five on order.The A380 has cost Airbus about 20 billion euros ($23 billion), breaking even or generating profits for only a three-year stretch starting in 2015, Agency Partners estimated. With just 251 aircraft sold over the program’s life, the planemaker never achieved the efficiency that comes with manufacturing at large scale, Tusa said.Boeing, meanwhile, had been preparing for years to wind down the 747 program, and its sales team has been sounding out customer interest in a potential freighter version of the 777X. If such a model goes forward, it would bolster flagging sales of the largest twin-engine aircraft in the company’s lineup.The telling omen that Boeing had written the iconic 747’s final chapter came in financial filings earlier this year. Gone was any indication that the company would continue to “evaluate the viability” of the program, standard phrasing it had previously used.“At a build rate of half an airplane per month, the 747-8 program has more than two years of production ahead of it in order to fulfill our current customer commitments. We will continue to make the right decisions to keep the production line healthy and meet customer needs,” Boeing said for this story.The planemaker has just 15 unfilled orders for the 747 -- all freighters. A dozen of them are headed to United Parcel Service Inc., and the fate of the rest is unclear, part of a dispute with Russia’s Volga-Dnepr Group.Boeing has approached the U.S. courier and other potential customers about taking the three planes, people familiar with the matter said. The planemaker and UPS declined to comment. Volga-Dnepr didn’t respond to requests for comment.UPS in May agreed to take a 747 that Volga had ordered. “Working with Boeing, we saw an opportunity to bring another 747-8 online this year in time for our peak shipping season,” the courier said.Ultimately, Boeing’s decision on the 747 boiled down to resource allocation, said George Dimitroff, who leads valuations at aviation consultant Cirium. Could the assembly line floor space be better used on another airplane, such as the 767, which shares a bay in Boeing’s Everett, Washington, factory?“If you’re building half an airplane a month, it’s probably not your most profitable program,” Dimitroff said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Warren Buffett's Market Indicator Nears 150% Ahead of Independence Day
    GuruFocus.com

    Warren Buffett's Market Indicator Nears 150% Ahead of Independence Day

    US markets eke out gains as strong jobs report outclasses record jumps in new coronavirus cases Continue reading...