• Warren takes swipe at Mark Zuckerberg over political ads
    Reuters Videos

    Warren takes swipe at Mark Zuckerberg over political ads

    (SOUNDBITE) (English) DEMOCRATIC PRESIDENTIAL CANDIDATE ELIZABETH WARREN SAYING: "To make real change in Washington, we have got to beat back the corruption in Washington. We have got to beat back the influence of money." Democratic presidential candidate Elizabeth Warren campaigning in the key swing state of Iowa on Sunday took a swipe at Facebook CEO Mark Zuckerberg, after Facebook ran a political ad which falsely accused former Vice President Joe Biden of blackmailing Ukrainian officials to stop an investigation of his son. (SOUNDBITE) (English) DEMOCRATIC PRESIDENTIAL CANDIDATE ELIZABETH WARREN SAYING: "And when Mark Zuckerberg doesn't like it, too bad for Mark Zuckerberg." Last week, the Biden campaign sent a letter to Facebook arguing the ad should be taken down. While the Trump campaign has been pushing out ads with similar false accusations in recent weeks... the video in question was released by an independent political action committee, or super PAC...called 'the Committee to Defend the President.' Biden's campaign pointed out that although Facebook has a policy of allowing all political leaders a platform, the ad by the super PAC was not from a politician but an organization...and so it should have been rejected. Zuckerberg last week defended the social media company's stance on free speech, whether true or false. (SOUNDBITE) (English) FACEBOOK CEO, MARK ZUCKERBERG, SAYING: "I don't think it's right for a private company to censor politicians or the news in a democracy." The Facebook controversy flared up after a leaked audio recording was published by The Verge where Zuckerberg was critical of Warren's views on tech. (SOUNDBITE) (English) FACEBOOK CEO, MARK ZUCKERBERG, SAYING: "If she (Warren) gets elected president, then I would bet that we will have a legal challenge and I would bet that we will win the legal challenge. And does that still suck for us? Yeah. I mean, I don't want to have a major lawsuit against our own government." In March, Warren called for breaking up Amazon, Facebook and Alphabet,

  • Biden campaign cracks down on Facebook over false ads
    Reuters Videos

    Biden campaign cracks down on Facebook over false ads

    The Biden campaign going after Facebook once again... this time for running a video ad which falsely accused the former Vice President of blackmailing Ukrainian officials to stop an investigation of his son. On Thursday the Biden campaign sent a letter to Facebook, viewed by the New York Times, arguing the ad should be taken down. While the Trump campaign has been pushing out ads with similar false accusations in recent weeks... the video in question was released by an independent political action committee, or super PAC...called 'the Committee to Defend the President.' Biden's campaign pointed out that although Facebook has a policy of allowing all political leaders platform, the ad by the super PAC was not from a politician but an organization...and so it should have been rejected. The letter came on the same day that Facebook's CEO, Mark Zuckerberg delivered a speech in Washington defending his company's approach to political ads, arguing that even falsehoods from a politician were important for public discourse. (SOUNDBITE)(ENGLISH) FACEBOOK CEO, MARK ZUCKERBERG, SAYING: "I don't think its right for a private company to censor politicians or the news in a democracy." Zuckerberg faced swift backlash to the speech- especially from Senator Elizabeth Warren who tweeted: "Once again, we're seeing Facebook throw its hands up to battling misinformation in the political discourse, because when profit comes up against protecting democracy, Facebook chooses profit." After the Biden campaign's letter- The Times reported that a Facebook executive confirmed that the ad was taken down. And if it ran again it would be submitted to fact-checking.

  • Facebook open to currency-pegged stablecoins for Libra project
    Reuters

    Facebook open to currency-pegged stablecoins for Libra project

    Facebook Inc, facing growing skepticism about its digital currency project Libra, on Sunday said the initiative could use cryptocurrencies based on national currencies such as the dollar, instead of the synthetic one it initially proposed. David Marcus, who heads the Libra project for Facebook, told a banking seminar the group's main goal remained to create a more efficient payments system, but it was open to looking at alternative approaches for the currency token it would use. "We could definitely approach this with having a multitude of stablecoins that represent national currencies in a tokenized digital form," he said.

  • Earnings extravaganza — What to know in the week ahead
    Yahoo Finance

    Earnings extravaganza — What to know in the week ahead

    Earnings will be the focal point for investors this week, as about a quarter of the S&P 500 companies gear up to report results.

  • Amazon Week 3 Highlights: Prices Get Close to $1,800
    Market Realist

    Amazon Week 3 Highlights: Prices Get Close to $1,800

    During the third week of October, Amazon Inc. (AMZN) stock rebound. Compared to week 1 and week 2, the third-week patterns were somewhat different.

  • The U.S. Doubles Down On Domestic Lithium Production
    Oilprice.com

    The U.S. Doubles Down On Domestic Lithium Production

    Battery metals are quickly becoming a key priority for the United States as it moves to reduce its dependence on foreign mineral imports

  • What Are the Top Holdings of Fisher Asset Management?
    Market Realist

    What Are the Top Holdings of Fisher Asset Management?

    Kenneth Fisher is the founder of Fisher Asset Management LLC. He in July 2016. But now he's the executive chairman of Fisher Asset Management.

  • Netflix scores big with 'Breaking Bad' but streaming wars loom large
    Yahoo Finance

    Netflix scores big with 'Breaking Bad' but streaming wars loom large

    Netflix is betting heavily on original content slate, but the streaming wars loom large.

  • Big tech, big profits? Amazon sales poised to leap 24%
    The Guardian

    Big tech, big profits? Amazon sales poised to leap 24%

    Shares have risen fivefold in five years and despite the shadow over tech analysts bet Amazon is immune to a backlash. Remember when Silicon Valley was a force for good? With their young bosses, origins in garages and revolutionary products, US tech companies were worshipped for bringing information, choice and innovation to the world. As reporting season for the US tech sector revs up this week the sheen has come off as campaigners, politicians and the wider public have asked questions about the darker side of the digital revolution. Facebook, Amazon, Google’s parent, Alphabet, Microsoft and Apple are all reporting in the next couple of weeks. Misuse of people’s data, aggressive tax avoidance, treatment of workers, enabling hate speech and the sheer size and power of the tech giants are all in the spotlight. The US government is conducting an antitrust review and Elizabeth Warren, the new frontrunner for the 2020 Democratic nomination, has pledged to break up the digital monopolies. Amazon, which reports third-quarter results on Thursday, is a case in point. Jeff Bezos’s company has faced repeated questions about working conditions at its warehouses in the US and the UK, where it is running an ad campaign featuring happy workers. Critics hold it partly responsible for the crisis on the high street. Amazon’s sprawling business – from retail sales and computer gaming to advertising and entertainment streaming – is in Warren’s sights and in Britain the competition authorities are investigating its investment in Deliveroo. It could also be affected by proposals to make big tech companies pay more tax in countries where they make sales. The Seattle-based company has told investors to expect third-quarter sales to jump by as much as 24% to a maximum of $70bn as it piles on revenue from cloud computing and its Prime service’s one-day delivery offer. Operating profit, though, is set to fall from $3.7bn to between $2.1bn and $3.1bn as Amazon spends on transport to expand its fast delivery offer. Amazon’s shares have fallen by about 10% since disappointing second-quarter results in July as investors digested its heavy spending message, amid general wariness about the tech sector made worse by dud share sales by companies such as Uber, Lyft and Slack. Neil Campling, head of technology research at Mirabaud Securities, said: “There is an overhang on big tech at the moment which is weighing on Amazon. You have got very high expectations and companies with very high valuations, and when a sector is priced for perfection that creates extra risk.” The shares are worth more than six times what they were just five years ago and Wall Street analysts reckon there is more to come. The company has so many irons in the fire that it’s hard to understand what’s going on. Supporters have to believe that its size, ability to invest and Bezos’s relentless focus on keeping customers happy is a magic combination. Andrew Murphy, managing partner of US tech investor Loup Ventures, says Amazon is still a high-growth company because of its willingness to experiment, and will escape a forced break-up despite its size. “While they’ve demonstrated the capability of turning on the profitability spigot at will in a given quarter, they are still in investment mode,” Murphy said. “Amazon will experiment and spend to test seemingly anything.” Is Amazon a risk-taking innovator or a relentless sucker up of other people’s business? Campling points out that Amazon’s cloud service supports many other companies, “creating an economy of its own”, but adds that Amazon can use the information it gets from the service to move in on the next trend. “Amazon is affecting every part of our lives,” Campling said. “Some people will think it’s the devil and others will think it gives us choice.”

  • Financial Times

    Huawei admits that US sanctions are hurting

    Huawei is struggling to replace Google apps on its mobile phones after being hit by US sanctions, the company’s executives have admitted, saying it will be years before they can develop their own alternatives. Senior executives from Huawei US said they had been able to find replacements for much of the equipment they used to buy from the US, but not the computing services sold by Google. Joy Tan, vice-president of public affairs at Huawei US, said: “After the entity list, we were able to figure out some of the alternative solutions.

  • Susan Rice weighs in on 'the danger' surrounding big tech
    Yahoo Finance

    Susan Rice weighs in on 'the danger' surrounding big tech

    The international reputation of large American tech firms can impact how the global community perceives the U.S., says a former top national security official under Barack Obama.

  • Financial Times

    Hedge funds and mutual funds converge on US stock holdings

    About 12 per cent of the top 50 US stocks held as overweight positions by hedge funds and traditional mutual funds are owned by both sets of managers, according to Bank of America Merrill Lynch. Savita Subramanian, head of US equity and quantitative strategy at BofA, said strong momentum effects in the US market were one possible explanation.

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  • News Corp to supply headlines for Facebook's upcoming news tab
    Reuters

    News Corp to supply headlines for Facebook's upcoming news tab

    The WSJ, which first reported about the deal, said news publications Washington Post, BuzzFeed News, and Business Insider have also reached a similar deal with Facebook. The news organizations will be paid a licensing fee to supply headlines, the WSJ reported.

  • What's Next for Netflix Stock After Q3 Earnings as Apple & Disney Launch?
    Zacks

    What's Next for Netflix Stock After Q3 Earnings as Apple & Disney Launch?

    Netflix's post-release positivity was short lived as NFLX stock fell Thursday and slipped another 6% Friday. Now what?

  • Could Microsoft Azure Be the Next Windows?
    Market Realist

    Could Microsoft Azure Be the Next Windows?

    Analyst Christopher Eberle reiterated a "buy" rating and a price target of $161 on Microsoft stock. He predicts that Azure could grow 61.6% in Q1.

  • Reuters

    UPDATE 1-U.S. lawmakers urge Apple to restore HKMap app used in Hong Kong

    A bipartisan group of seven U.S. lawmakers including Senators Ted Cruz, Ron Wyden and Marco Rubio and Representative Alexandria Ocasio-Cortez on Friday urged Apple Inc Chief Executive Tim Cook to restore the HKMap app used in Hong Kong. Earlier this month, Apple removed the app that helped Hong Kong protesters track police movements, saying it was used to target officers.

  • Could the Model Y Change Tesla’s Profit Game?
    Market Realist

    Could the Model Y Change Tesla’s Profit Game?

    This year, Tesla (TSLA) stock has fallen 21.3%, underperforming broader markets. Let's look at how Tesla's Model Y could turn things around.

  • Facebook May Have More Money and Problems after 2020 Vote
    Market Realist

    Facebook May Have More Money and Problems after 2020 Vote

    Facebook critics, from Donald Trump to Democratic presidential nominee candidate Elizabeth Warren, are rushing to the platform to promote their campaigns.

  • Are Q3 2019 Earnings Results Really That Good?
    Zacks

    Are Q3 2019 Earnings Results Really That Good?

    Are Q3 2019 Earnings Results Really That Good?

  • Will Twitter (TWTR) Stock Continue Its 2019 Success After Q3 Earnings?
    Zacks

    Will Twitter (TWTR) Stock Continue Its 2019 Success After Q3 Earnings?

    Twitter (TWTR) is set to report its third quarter results on Thursday, October 24 before the opening bell.

  • Can Ford Challenge Tesla with Its EV Charging Network?
    Market Realist

    Can Ford Challenge Tesla with Its EV Charging Network?

    Ford announced that it would offer North America’s largest electric vehicle public charging network, the FordPass Charging Network, to its EV customers.

  • Exclusive: Electric Hummer could be part of GM's move into EV trucks, SUVs - sources
    Reuters

    Exclusive: Electric Hummer could be part of GM's move into EV trucks, SUVs - sources

    WASHINGTON/DETROIT (Reuters) - General Motors Co plans to build a new family of premium electric pickup trucks and sport-utility vehicles at its Detroit-Hamtramck plant beginning in late 2021, possibly reviving the imposing Hummer brand on some of them, several people familiar with the plans said. The so-called BT1 electric truck/SUV program is the centerpiece of a planned $3 billion (2.3 billion pounds) investment in the Detroit-Hamtramck plant to make electric trucks and vans, and part of a broader $7.7 billion investment in GM's U.S. plants over the next four years, according to a proposed labor deal between the automaker and the United Auto Workers union. The investment would move the automaker into a part of the EV market that is largely untested and where GM has a higher likelihood of turning a profit, analysts said.

  • Pixel 4: Google’s Latest Smartphone Disqualified in India
    Market Realist

    Pixel 4: Google’s Latest Smartphone Disqualified in India

    Google’s latest smartphone, the Pixel 4, won't be available for sale in India, the world’s second-largest smartphone market.

  • Alibaba Options Traders Betting on a Bullish Jump
    Market Realist

    Alibaba Options Traders Betting on a Bullish Jump

    In the October 18 trading session, Alibaba Group Holding Limited (BABA) stock is trading at $170.14, down 3.79% from the previous session.