People are spending less time on Facebook, according to the company's earnings report. On average, users are spending about 50 million hours less on the platform, a drop of about 5%. But CEO Mark Zuckerberg says this is intentional. In a statement, Zuckerberg said the company intentionally featured fewer viral videos to "make sure people's time is well spent." The social media company also reported increased ad revenue.
And eBay is parting ways with longtime partner PayPal in favor of Dutch payment processing company Adyen. Consumers will still have the option to check out using PayPal but will be redirected towards an external site. This is an attempt by the company to take more control of sales on its platform. PayPal and eBay used to be part of the same company but parted ways in 2015.
Frances Stacy, Optimal Capital Director of Strategy, breaks down why the latest data indicates the economy may be struggling more than expected, plus some sectors she’s watching.
The Federal Trade Commission is suing to block a proposed merger between the two grocery stores. The FTC says the $24.6 billion deal would eliminate competition and lead to higher prices for millions of Americans.
Terecircuits CEO Wayne Rickard explains some of the other companies set to benefit from the Nvidia-led chipmaking rally, including manufacturing and toolmaking companies.
Axios reporter Erin Doherty breaks down the results from the South Carolina primary as former President Trump gets closer to winning the GOP nomination.
Jay Woods of Freedom Capital Markets shares thoughts on how the latest inflation report will impact the market, and why he expects a ‘cascade’ of IPOs if Reddit’s public debut goes well.
During AT&T's widespread outage Thursday, landline phones were a working alternative — which most of the U.S. does not have. Over half of Americans are estimated to have ditched landlines altogether.
