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Business

Social media deal earns advertisers’ ‘likes’, but not yet all their dollars

Business Advertisers who boycotted social media are not all rushing back, despite an agreement by Facebook, YouTube and Twitter on how to curb harmful content online. FILE PHOTO: The Twitter App loads on an iPhone in this illustration photograph taken in Los Angeles, California, U.S., July 22, 2019. REUTERS/Mike Blake/File Photo 3 related media assets (image or videos) available. Click to see the gallery. 25 Sep 2020 08:25PM Share this content Bookmark LONDON: Advertisers who boycotted social media are not all rushing back, despite an agreement by Facebook, YouTube and Twitter on how to curb harmful content online. Unilever, one of the world's biggest advertisers, told Reuters the move this week was "a good step in the right direction," but would not say whether it would resume paid advertising on Facebook in the United States next year after stopping over the summer. Advertisement Advertisement Coca-Cola also remains paused on Facebook and Instagram and declined to s..

Business

Facebook critics launch rival oversight board

Business Critics of Facebook Inc, including the architects of an advertising boycott against the company, on Friday launched a rival oversight board to review the company's content moderation practices. FILE PHOTO: A 3D-printed Facebook dislike button is seen in front the Facebook logo, in this illustration taken October 25, 2017. REUTERS/Dado Ruvic/Illustration 25 Sep 2020 07:40PM Share this content Bookmark SAN FRANCISCO: Critics of Facebook Inc, including the architects of an advertising boycott against the company, on Friday launched a rival oversight board to review the company's content moderation practices. The new group, which bills itself as the "Real Facebook Oversight Board," counts among its initial members the heads of three U.S. civil rights groups, the former president of Estonia and the former head of election integrity at Facebook. Advertisement Advertisement The announced launch comes a day after Facebook's officially-mandated Oversight Board..

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China Evergrande Shares, Bonds Suffer Sell-Off on Cash-Crunch Concern

HONG KONG—Investors sold off China Evergrande Group shares and bonds on Friday after a leaked document allegedly showed the nations second-biggest property developer by sales sought government help to avert a cash crunch. The document showed Evergrande asked a local government to support a Shenzhen backdoor listing plan before Jan. 31 or else it would need to repay over $19 billion raised for the listing, which would weigh on its cash flow. Evergrande late on Thursday said the document which had been circulating online was a fabrication and amounted to defamation, and it has reported the matter to the public securities authority. Analysts including those at S&P Global Ratings have said they do not expect a liquidity crunch as the firm has various fund-raising channels, including as much as $117 billion in sales this year, domestic bond issuance, and spin-off plans. An exterior view of China Evergrande Centre in Hong Kong, China, on March 26, 2018. (Bobby Yip/Reuters) On Friday, at..

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Facebook Pays $650 Million to Settle Illinois Facial Recognition Lawsuit

Illinois Facebook users are now able to submit claims online and receive payouts between $200 and $400 as part of a $650 million settlement that followed a class-action lawsuit, claiming the social media giant illegally collected and stored biometric data of millions of users without their consent. The lawsuit, that was ongoing for more than five years, accused Facebook, Inc. of violating the states Biometric Information Privacy Act (BIPA), via its “Tag Suggestions” feature and others involving facial recognition technology. The feature allowed users to recognize their Facebook friends from previously uploaded photos. BIPA states that companies cant collect, store, or give out “biometric data,” including face or fingerprint scans, without first giving notice and receiving user consent. Facebook denies it violated any law. Affected users are now able to file claims digitally until Nov. 23 this year. According to the website, “Facebook users located in Illinois for whom Facebook creat..

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Trumps Election Tweets Likely to Spark Volatility in US Treasurys: JPMorgan

President Donald Trumps election-related tweets are likely to drive volatility in the U.S. Treasury market, according to the JPMorgan Chase & Co. analysts who created the Volfefe Index. Named after Trumps mysterious “covfefe” tweet from May 2017, the index seeks to gauge the impact of the presidents tweets on the worlds biggest funding market by tracking moves in interest-rate options. “Presidential tweeting remains a statistically significant driver of volatility and options pricing in interest rates,” JPMorgan analysts Henry St John and Joshua Younger wrote in a note cited by Fox News. “Should the topic of those pronouncements turn to topics to which markets have been more sensitive ‒ Covid-19, the election, and geopolitics, for example ‒ it could be a bullish factor for volatility heading into November.” Analysts at JPMorgan created the measure in September 2019, with Bloomberg reporting at the time that the analysts found the Volfefe Index accounted for a “measurable fraction” o..

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Motor racing: F1 reports biggest coronavirus spike this year ahead of Russian GP

SOCHI, RUSSIA (AFP) – Formula One confirmed on Friday (Sept 25) that it has recorded the sport's biggest coronavirus spike this year as it prepares for the Russian Grand Prix, the 10th race of the season. The sport said it had returned its highest number of positive Covid-19 test results, hours before welcoming a significant number of spectators to a race for the first time this year. The F1 organisation and the sport's ruling body the International Motoring Federation (FIA) said they had discovered seven cases of coronavirus following 3,256 tests between Sept 18 and Sept 24. The tests are carried out every five days on the teams' staff, drivers and all paddock and news media personnel. This weekend's event is the first major international sports event of the Covid-19 era to have a significant crowd of spectators after the Russian promoters claim to have sold 30,000 tickets for Sunday's race. Seven of the 10 teams are based in Britain where the number of r..

Business

Athletics: Duplantis wins in Doha to complete perfect season

DOHA (REUTERS) – Swedish pole vaulter Armand 'Mondo' Duplantis completed a perfect season when he beat world champion Sam Kendricks at the Doha Diamond League meeting on Friday (Sept 25), the last of a campaign shortened by the Covid-19 pandemic. The 20-year-old won all 16 of his meetings in 2020 as well as twice breaking the world record and producing the best-ever outdoor jump of 6.15 metres. A vault of 5.82 metres was enough for him to win again on Friday ahead of American Kendricks and France's former Olympic champion Renaud Lavillenie who both cleared the same height but with more failures. Kenyan Faith Kipyegon ran the fastest time this season to win the women's 800 metres, taking the lead from Spain's Esther Guerrero around 200 metres from the end before cruising home for a comfortable win in 1:57.68 minutes. "I am very surprised not only with the win but with my record here tonight," said Kipyegon, the Olympic 1500 metres champion. "The year has be..

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Tennis: What comes next is ‘bonus’ for US Open champion Dominic Thiem

PARIS (AFP) – It took Dominic Thiem 26 attempts to win his first Grand Slam title and now with the US Open crown in his collection, he admits what follows next will be "a bonus". The 27-year-old Austrian will be hoping to make it back-to-back major triumphs at Roland Garros which gets under way on Sunday. Should world number one, and 2016 champion, Novak Djokovic, or 12-time winner Rafael Nadal unexpectedly falter, it is Thiem who is most likely to benefit. "I felt great coming here because I've achieved such a big goal. I mean, at one point whatever comes now is somehow a bonus," the world number three said on Friday (Sept 25). "On the other hand, I want to do the best I can in every single tournament I play. "Especially here in Roland Garros, I had four crazy years with two semi finals, two finals. I love the conditions here. I love the whole tournament." Thiem has lost the last two finals in Paris to Nadal as well as the 2017 semi-final against the Spaniard. He also fell..

Business

Some 3,500 US companies sue over Trump-imposed Chinese tariffs

Business About 3,500 U.S. companies, including Tesla Inc , Ford Motor Co , Target Corp , Walgreen Co and Home Depot have sued the Trump administration in the last two weeks over the imposition of tariffs on more than US$300 billion in Chinese-made goods. FILE PHOTO: A U.S. dollar banknote featuring American founding father Benjamin Franklin and a China's yuan banknote featuring late Chinese chairman Mao Zedong are seen among U.S. and Chinese flags in this illustration picture taken May 20, 2019. REUTERS/Jason Lee/Illustration 26 Sep 2020 04:15AM (Updated: 26 Sep 2020 04:15AM) Share this content Bookmark WASHINGTON: About 3,500 U.S. companies, including Tesla Inc , Ford Motor Co , Target Corp , Walgreen Co and Home Depot have sued the Trump administration in the last two weeks over the imposition of tariffs on more than US$300 billion in Chinese-made goods. The suits, filed in the U.S. Court of International Trade, named U.S. Trade Representative Robert Lighthizer and the C..

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FAA chief set to conduct 737 MAX evaluation flight next week

Business Federal Aviation Administration Chief Steve Dickson is set to conduct an evaluation flight at the controls of a Boeing 737 MAX next week, a key milestone as the U.S. planemaker works to win approval to resume flights, the agency told lawmakers. FILE PHOTO: Grounded Boeing 737 MAX aircraft are seen parked in an aerial photo at Boeing Field in Seattle, Washington, U.S. July 1, 2019.REUTERS/Lindsey Wasson/File Photo 2 related media assets (image or videos) available. Click to see the gallery. 26 Sep 2020 02:55AM (Updated: 26 Sep 2020 04:06AM) Share this content Bookmark WASHINGTON: Federal Aviation Administration Chief Steve Dickson is set to conduct an evaluation flight at the controls of a Boeing 737 MAX next week, a key milestone as the U.S. planemaker works to win approval to resume flights, the agency told lawmakers. The Boeing 737 MAX has been grounded since March 2019 after two fatal crashes killed 346 people. Dickson, who was previously a commercial airline pilo..

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