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Lost in the news of the George Floyd protests against police brutality and racism in the U.S., Facebook last week quietly noted it will now require Facebook profile pages with large followings in the U.S. to verify their identity. If the profile's owner chooses not to verify their identity or the ID provided does not match the linked Facebook account, the distribution of the profile's viral post will continue to be reduced so fewer people will see it, the company explains. In addition, if the profile that's posting is also a Facebook Page admin, they'll need to complete the Page Publishing Authorization and won't be able to post from their Page until the account is verified through Facebook's systems.
Trump has video teleconference with governors and tells them to increase aggression towards protestors; Brands like Amazon, Disney, and Nike are responding to the protests across the country. Yahoo Finance's On The Move panel discusses.
Google has added its line of Nest smart home devices to its Advanced Protection Program, a security offering that adds stronger account protections for high-risk users like politicians and journalists. The program, launched in 2017, allows anyone who signs up access to a range of additional account security features, like limiting third-party access to account data, anti-malware protections and allowing the use of physical security keys to help thwart some of the most advanced cyberattacks. Google said that adding Nest to the program was a "top request" from users.
In this episode of Industry Focus: Tech, Dylan Lewis and Motley Fool contributor Brian Feroldi discuss the competitive dynamics between Slack (NYSE: WORK) and Microsoft (NASDAQ: MSFT) and the enterprise software segment in general. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. Dylan Lewis: It's Friday, May, 29th, and we are talking about the ongoing war between Microsoft and Slack.
(Bloomberg) -- Facebook Inc. Chief Executive Officer Mark Zuckerberg hosted a nearly hour-long video call with U.S. civil rights leaders to discuss ongoing issues around his company’s policies as they relate to race, elections and other topics. But participants were left disappointed, according to Color of Change President Rashad Robinson, who concluded that Zuckerberg can’t fully grasp the change they seek.In an interview with Bloomberg News immediately after the call, Robinson said that “the problem with my ongoing conversations with Mark, is that I feel like I spent a lot of time, and my colleagues spent a lot of time, explaining to him why these things are a problem, and I think he just very much lacks the ability to understand it.”These comments come at a time when the U.S. is roiled by daily protests for racial justice triggered by the death of George Floyd, an African-American man, while in police custody in Minneapolis. Facebook has come in for criticism from within its own ranks, with an upswell of dismay among employees after the CEO adopted a hands-off approach to messages posted by President Donald Trump that seemed to threaten violence with the words “when the looting starts, the shooting starts.”Read more: Facebook Worker Unrest Rises With Walkout, Criticism of CEO“His employees are outraged,” said Robinson. “I’ve got outreach from some of them. Saying Black Lives Matter, saying I’m going to give money, but having your policies actually hurt black people, people will know the difference.” Some of the company’s senior staff have taken to Twitter to make their discontent public.Facebook didn’t immediately respond to requests for comment. In a statement sent to Axios, Facebook said it was “grateful that leaders in the civil rights community took the time to share candid, honest feedback.” The company added that “it is an important moment to listen, and we look forward to continuing these conversations.”Robinson also recently spoke up at a Facebook shareholder meeting and said he’s had dinner at Zuckerberg’s home and been on other calls with the CEO to talk about similar topics. Joining the Monday call was Facebook Chief Operating Officer Sheryl Sandberg. All of this effort from Facebook’s executive team suggests the company is serious at least about bringing civil rights leaders on its side, however Robinson expressed more frustration than hope.“He continues to do things and make decisions that hurt communities and put people in harm’s way and is not accountable for it,” said Robinson.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.
With the RBA holdings policy unchanged, the focus returns to the key risk drivers. Continued unrest in the U.S and tensions between the U.S and China are in focus.
(Bloomberg) -- The coronavirus came relatively late to Yemen, but even with advance notice it has still been ravaged by the disease.With the war-torn country divided between three competing authorities, its economy and health systems shattered, and malnutrition and disease already rife, the outbreak faced few obstacles. Yemen’s most strategically important city, Aden, now has the highest Covid-19 mortality rate among confirmed cases in the world at 70%, United Nations Secretary General Antonio Guterres said May 28.Even during the harrowing last five years of conflict, Yemenis flooded Facebook through the holy month of Ramadan with greetings and photographs of fasts being broken. This year, though, their posts were often messages of condolence.“It has turned from a Facebook to a Deathbook in Yemen,” Sami Ghaleb, political analyst and founder of al-Nida newspaper, said of the outpouring on social media. “The sorrows of Yemenis are a sea without shores.”While figures released by officials put fatalities at a few hundred since Yemen’s first virus case was reported mid-April, online comments as well as accounts from medics and those preparing graves suggest the actual number is far higher, and rising rapidly. In a worse-case scenario, the World Health Organization sees at least 65,000 deaths, and about half a million hospitalizations.An outbreak on that scale would add to the unraveling of a country located on a maritime passage through which nearly four million barrels of oil are shipped daily to Europe, the U.S. and Asia, and enhance the chaos that al-Qaeda and Islamic State have been exploiting to reestablish a presence.Besides, “if we do not combat the virus everywhere, there’s a high likelihood that it will continue to circle the planet,” said Jens Laerke, spokesman for the UN Office for the Coordination of Humanitarian Affairs. Richer nations must make an investment in humanity, he said.Read More: How Yemen’s Civil Strife Became a Brutal Proxy WarThat’s why on Tuesday the UN is co-hosting a virtual donor conference, looking for $2.4 billion to fund programs that assist 80% of Yemen’s 28 million people.The event’s other sponsor is, controversially, Saudi Arabia. Since 2015, the Saudi military has led an Arab coalition seeking to restore the government ousted by Iran-aligned Houthi rebels. The fighting has killed 100,000 people, with another 131,000 dying from hunger, disease and lack of medical care, a UN-commissioned report found last year.Asked by email about the kingdom’s participation given its role in the war, Laerke said Saudi Arabia has provided “large amounts of money with no strings attached” that helped beat back a looming famine in Yemen and control a cholera epidemic. He added that the UN has called on all parties, including the Saudis, to adhere to international humanitarian law that prohibits targeting health facilities, something that’s happened on scores of occasions during the war.Saudi Arabia, which is struggling with its own coronavirus outbreak and shares a long, hard-to-control border with Yemen, plans to donate $500 million to the effort, according to its ambassador to the country.Only half Yemen’s hospitals and clinics are still functioning, and medics say they have turned Covid-19 patients away because of a lack of ventilators, oxygen and personal protection equipment. Testing is almost non-existent.In the southern port city of Aden, where some of the first virus clusters erupted, residents have had to clear streets following heavy rains and flash floods in mid-April that piled up mud and garbage. In places, sewage mixes with pools of stagnant water.The city has been under the control of United Arab Emirates-backed separatists since last year after they expelled the government of President Abd Rabbuh Mansour Hadi, the leader Saudi Arabia wants to restore to power over all Yemen. The two are supposed to be allies in the fight against the northern Houthis but have turned on each other.As they battle in a nearby province, the coronavirus is spreading in Aden. Mosques remain open, while markets and shops are crowded despite orders to close, highlighting the difficulties in enforcing a lockdown when most people depend on a daily income, and electricity supply is limited to about four hours a day.“How can we observe social distancing and home isolation when we can’t keep food and vegetables fresh in the fridge?” Abeer Karim, a resident, said by phone. Ginger, lemons and oranges are scarce as people try home remedies to ward off infection, she said. Food prices are rising.Fearful of being stigmatized, relatives of virus victims are reluctant to share their stories, with most blaming “fever” or other diseases that have taken hold in the city, like dengue or chikungunya. But the evidence is mounting of a growing Covid-19 toll.Authorities in Aden are issuing far more death certificates each day than before the outbreak. The price of a grave cloth has gone up by almost 50%, costing more than 15,000 rials ($60), residents say. While in Sana’a the price of a grave has risen to 70,000 rials from 30,000.Sana’a, the capital, is run by the Houthis. They’ve announced just four cases and one death, and have been accused by the Hadi government and medics of covering up cases. Last week, they acknowledged the virus has spread to a multiple areas, including Sana’a, without providing figures. They’ve allowed mass gatherings and encouraged families and friends to attend funerals.“If we do not get the money coming in, the programs that are keeping people alive, are very much essential to fighting back against Covid, will have to close,” the UN’s Laerke said. “And then the world will have to witness in a country what happens without a functioning health system battling Covid. And I do not think the world wants to see that.”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.
(Bloomberg) -- Western Union Co. is seeking to acquire MoneyGram International Inc. in a transaction that would bring together two of the largest U.S. providers of money-transfer services, according to a person familiar with the matter.Western Union has made a takeover offer for MoneyGram, said the person, who asked not to be identified because the matter isn’t public. No decision has been made and Western Union could opt to proceed without a deal, the person said.Representatives for Western Union and MoneyGram declined to comment.The business has been in decline as more people use online payments. Financial-technology upstarts have taken aim at the industry, offering strong new competition to established companies. Meanwhile, policy makers are intent on trimming the fees associated with moving money around the world.MoneyGram rose as high as 74% in late trading Monday. The stock closed up 6.2% to $2.59, giving the company a market value of about $164 million. It also has about $878 million of debt. Western Union rose 3.5% to $20.71 for a market value of about $8.5 billion.Dallas-based MoneyGram has struggled during the coronavirus pandemic, which has forced it to shutter operations around the globe as governments imposed shelter-in-place orders. While MoneyGram has boosted digital transactions, they made up just 18% of its money transfers in the first quarter, the company reported last month.Last year, Facebook Inc. joined with companies from around the world to form the Libra Association to offer a new way to send payments overseas. At the time, the association lamented that low-income consumers often pay too much for financial services.Governments and regulators around the world have long sought to cut the cost of remittances, which often cater to migrants who lack access to traditional bank accounts. On average, it costs $6.79 for every $100 in remittances sent overseas, according to data compiled by the World Bank.Ant Financial Services Group, the Chinese financial services conglomerate, agreed to acquire MoneyGram in 2017 but abandoned the deal after pushback from national security regulators in the U.S.(Updates with fintechs, regulators, industry scope starting in first 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.
(Bloomberg) -- Facebook Inc. employees became increasingly bold in expressing their dismay at Chief Executive Officer Mark Zuckerberg’s decision not to take action on incendiary comments posted to the social network by U.S. President Donald Trump, tweeting out criticisms and staging a virtual walkout.After the president tweeted a message with the words “when the looting starts, the shooting starts” in response to protests over the death of George Floyd in Minneapolis, Twitter Inc. for the first time obscured one of his posts, marking it with a warning that it breached service rules by glorifying violence. Facebook’s response to the same content, in a post from Zuckerberg on Friday, was to say, “We think people need to know if the government is planning to deploy force.”Several senior figures at Facebook declared their strong disagreement online over the weekend, and some employees -- working from home because of the pandemic -- held a virtual walkout, deciding not to log in to work on Monday in protest.“Mark is wrong, and I will endeavor in the loudest possible way to change his mind,” said Ryan Freitas, director of product design for Facebook’s News Feed. “I apologize if you were waiting for me to have some sort of external opinion. I focused on organizing 50+ likeminded folks into something that looks like internal change.”“Giving a platform to incite violence and spread disinformation is unacceptable, regardless who you are or if it’s newsworthy,” wrote Andrew Crow, head of design for Facebook’s Portal product line.Joining them with individual messages against the passive policy were Design Manager Jason Stirman, Director of Product Management Jason Toff, and Product Designer Sara Zhang, who tweeted that “Internally we are voicing our concerns, so far to no avail.” One entire engineering team walked out, using a logo that displayed a fist with a heart and the hashtag takeaction. Many tweets quote Archbishop Desmond Tutu, a South African human rights activist: “If you are neutral in situations of injustice, you have chosen the side of the oppressor.”Daniel Lo Nigro, a senior front-end developer at Facebook, said he hopes something positive comes from the effort. “I’ve been at the company nearly seven years and I have never seen a protest or walkout anywhere near this large,” he said on Twitter.Read more: Facebook Appeases Trump as Twitter Spars With Him Over PostsIn a post late Sunday, Zuckerberg said Facebook is committing “an additional $10 million to groups working on racial justice.” Noting that the company “has more work to do to keep people safe and ensure our systems don’t amplify bias,” the CEO did not address the concern surrounding Trump’s posts on the platform. Trump made a phone call to Zuckerberg on Friday to discuss the situation, according to people familiar with the matter. Zuckerberg expressed disappointment in Trump’s tone and told him he was putting Facebook in a difficult position, the people said. Facebook had earlier reached out to the White House to see if Trump would change the post. The communication was earlier reported by Axios.It’s rare for Facebook employees to speak publicly about internal activity unless they have permission from the communications team. The Menlo Park, California-based company in the past has punished and discouraged leaking. Now, Facebook has changed that approach.“We recognize the pain many of our people are feeling right now, especially our Black community. We encourage employees to speak openly when they disagree with leadership,” a Facebook spokesperson said Monday in a statement. “As we face additional difficult decisions around content ahead, we’ll continue seeking their honest feedback.” Employees walking out won’t have to use up one of their vacation days for the time off, Facebook said, and on Tuesday Zuckerberg will address the situation in a companywide meeting.(Updates with Trump call to Zuckerberg in seventh 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.
The Canadian dollar <CAD=> was trading 1.5% higher at 1.3571 to the U.S. dollar, or 73.69 U.S. cents. "It just seems like everyone wants to sell (U.S.) dollars right now," said Bipan Rai, North America head of FX strategy at CIBC Capital Markets. "The Fed has implemented many measures to make sure that the world is awash in U.S. dollars."
Facebook (NASDAQ: FB) is getting heat for its inaction to inflammatory posts by President Trump, including a virtual walk-out by some of its employees, the New York Times reports. Employees across the company are expressing outrage over Mark Zuckerberg's decision to leave up President's Trump incendiary comments regarding rioters. Twitter (NYSE: TWTR), in contrast, flagged the message with a warning.
One of my favorite expressions, which seems particularly appropriate as U.S. cities burn anew, is “a luta continua,” Portuguese for “the struggle continues.” Because 52 years after the 1968 uprisings and riots, which were triggered by the assassination of Martin Luther King Jr. and so much more, one can make the argument that not much […]
U.S. stocks posted gains on Monday as signs of U.S. economic recovery helped offset jitters over increasingly violent social unrest amid an ongoing pandemic and rising U.S.-China tensions. All three major stock indexes began the month with gains of less than 1% on the heels of a strong rally in May. "Certainly the pace of the stock market recovery can't contnue at the pace it has been," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.
Though Big Tech has played a key role in reducing global emissions, it still maintains a complicated relationship with the oil and gas industry
(Bloomberg) -- Sony Corp. said it’s postponing a virtual news conference for the upcoming PlayStation 5 game console, one of the most high-profile corporate events to be put on hold in deference to protests against police brutality in the U.S.Electronic Arts Inc. also scrapped an event to introduce the Madden NFL 21 game that was set for Monday. Airbnb Inc. said Chief Executive Officer Brian Chesky won’t deliver a planned video message to discuss the home-rental startup’s vision for travel. And Alphabet Inc.’s Google postponed the introduction of its Android 11 mobile operating system previously planned for June 3.Demonstrations against the killing of an unarmed black man, George Floyd, by a white police officer in Minnesota last week have turned violent in cities from New York to Los Angeles. Officials have set curfews in major cities to deter late-night protests and looting. The situation has reopened racial wounds and cast a somber tone in the country.For the PS5 event, which had been scheduled for June 4, Sony said, “We do not feel that right now is a time for celebration, and for now, we want to stand back and allow more important voices to be heard.”Electronic Arts issued a statement with a black background that said: “We stand with our African American/Black community of friends, colleagues and partners.” The company said, “We’ll find another time to talk football with you because this is bigger than a game, bigger than sports and needs all of us to stand together and commit to change.”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.
(Bloomberg) -- Amazon.com Inc. shoppers are buying up pepper spray as demonstrations continue around the country and self-defense becomes top-of-mind for some Americans.A $9.48 canister of Sabre “max police strength” pepper spray shot up to the top-selling rank in Amazon’s sports and outdoors category Monday morning, supplanting normal best-sellers such as shorts and t-shirts, according to Marketplace Pulse, which monitors the site. A neck gaiter, which can cover the nose and mouth and became popular during the pandemic, is No. 2.One Amazon shopper named “Bill” left a 5-star review for the pepper spray May 31 and said “Put the cops down when they mess with you.” People are swapping recommendations for self-defense products on social-media platforms like Twitter, where users are posting links to Sabre pepper spray on Amazon.Protests have rocked U.S. cities since the killing in police custody of George Floyd, who was black. The authorities have charged police officer Derek Chauvin with Floyd’s murder. Some demonstrations have turned violent, with businesses looted and buildings and vehicles set ablaze.Sabre, which also makes stun guns and other products used by law enforcement, couldn’t immediately be reached for comment. A customer representative said all company executives were in a meeting. According to customer reviews, the pepper spray can be used for self-defense.An Amazon spokeswoman declined to comment. Amazon became a pipeline for household essentials such as toilet paper and disinfecting wipes for shoppers hunkered down at home to avoid contracting Covid-19. The spike in pepper spray sales shows how protests around the country are influencing consumer demand. Amazon’s best-seller product rankings provide a real-time gauge for sudden swings in consumer demand.(Updated with company’s decline to comment.)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.
The Dow Jones Industrial Average (DJINDICES: ^DJI) shook off some truly bad news on Monday, up about 0.2% at 11:40 a.m. EDT. Just as the U.S. economy was beginning to recover from the novel coronavirus pandemic, civil unrest in major U.S. cities threatened to impede that recovery. Shares of Apple (NASDAQ: AAPL) and Walmart (NYSE: WMT) made only small moves as the companies closed some stores on Sunday due to the unrest.
(Bloomberg) -- Okta Inc. projected revenue in the current quarter in line with Wall Street estimates, suggesting that a swell of remote workers has created steady demand for its security software.Sales will be $185 million to $187 million in the period ending in July, the San Francisco-based company said Thursday in a statement. Analysts, on average, projected $185 million, according to data compiled by Bloomberg. Okta expects a loss, excluding some items, of 1 cent to 2 cents a share, better than analysts’ projection of a loss of 9 cents.The company affirmed its annual revenue forecast of as much as $780 million. The company now projects a narrower adjusted loss in the fiscal year of as much as 23 cents a share compared with an earlier forecast of 36 cents.Okta makes identity-management software used to log in to various systems. The company has benefited from businesses’ need to have employees remotely access corporate systems in a secure way. Chief Executive Officer Todd McKinnon has sought to integrate his technology with programs from various other companies in a bid to compete against larger rival Microsoft Corp. In April, Okta expanded an alliance with onetime foe VMware Inc. to help protect networks and applications from unsafe software and devices. The company announced similar pacts with CrowdStrike Holdings Inc. and Tanium Inc.“The good news for us is only 12% of our business is in Covid-19 impacted industries,” McKinnon said in an interview. “There are other companies going quickly to remote work and doing contracts that got fast-tracked.”Okta’s revenue climbed 46% to $183 million in the period that ended April 30, beating analysts’ estimates of $172 million. Excluding some items, the company lost $8.1 million in the quarter, or 7 cents a share. Analysts projected a loss of 18 cents.Okta’s remaining performance obligations, a measure of future business, jumped 57% in the quarter to $1.2 billion.(Corrects explanation of remaining performance obligations in final 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.
USD/CAD breached the support at 1.3730 and moved closer to 1.3600.
With the global economy showing some serious volatility, holding stocks with secure balance sheets and reliable cash flows is one way to beat the volatility and sleep easy at night. If you're looking for some stocks that effectively "print money," keep reading to see why Facebook (NASDAQ: FB), Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), and Altria (NYSE: MO) all fit the bill. It's hard to think of a bigger cash cow than Facebook.
Online shopping is seeing a surge amid the pandemic, presenting Facebook with a big opportunity if it can succeed in a market that has long been out of its reach.
Comcast Business At Home – a dedicated, enterprise-grade and business-paid set of connectivity solutions for business owners with remote employees.
In this episode of MarketFoolery, Chris Hill chats with Fool.com contributor Dan Kline about the latest news from the markets. They look at the retail space and how retail businesses are serving underserved communities.
A hint of optimism is wafting through an M&A market desperately in need of some good news. “The market is starting to open up,” one banker said. In a market devastated by coronavirus, that counts as progress.