Snapchat’s CEO Evan Spiegel announced Wednesday that it would stop promoting President Trump’s content on its platform. This move would bring Snapchat’s approach to the president’s rhetoric closer to Twitter’s, while Facebook has maintained it will not take action. Yahoo Finance’s Akiko Fujita joins The Final Round panel to break down Trump’s response to Snapchat’s statements. ...
A $500 billion, five-year infrastructure bill introduced by the House of Representatives would not only fund highways and advance clean transportation efforts, but also would delay implementation of the new hours-of-service rule, require a rulemaking on driver detention, push revision of how motor carrier safety is measured under the CSA program. ...
(Bloomberg) -- Oil traders and analysts scrutinizing U.S. inventory data for signs of a market recovery are being confronted by an odd situation: the math just doesn’t add up.Various government data sets including stockpiles, production, imports and exports are signaling that current official figures on at least some supplies are excessive. While it’s unclear where exactly the discrepancy lies, the difference could potentially signal a more bullish outlook for crude prices as they claw their way back after diving below zero in April.The excess is showing up in the U.S. Energy Information Administration’s so-called crude supply adjustment factor -- the difference between stockpile numbers and those implied by production, refinery demand, imports and exports. That has averaged negative 980,000 barrels daily over the past four weeks -- the largest in records going back to 2001, and equivalent to more than 27 million barrels.The adjustment factor tends to swing back and forth,...
(Bloomberg) -- Len Blavatnik bought Warner Music Group Corp. for $3.3 billion in 2011, as the global music industry was grappling with plummeting record sales and a transition to digital listening dominated by piracy.He took the company public Wednesday with the stock pricing at $25. The shares surged 20% to close at $30.12, giving Warner Music a market value of $15.6 billion after its first day of trading.Entities controlled by Blavatnik, 62, sold about 77 million shares and Warner Music won’t receive any of the proceeds, according to a regulatory filing. He will retain almost all of the voting power. A spokeswoman for Blavatnik declined to comment.Warner Music Shareholders Raise $1.9 Billion in Upsized IPOThe pricing was delayed to avoid clashing with Black Tuesday, when the music industry halted business to support protests against police brutality in the U.S, people familiar with the matter said.Its public debut, at almost four times...
According to a recent report from Reuters, cosmetic company Coty is in talks with Kim Kardashian West for a possible collaboration. The company already has a majority stake in Kylie Jenner’s skincare line, which it bought for $600 million last year.
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