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.
Domino’s Pizza reported a 7.1% revenue rise to $1.1B amid value meal competition and inflation. Q3 may slow, with caution on growth and consumer spending.
Vanguard's "How America Saves" report analyzes U.S. retirement trends, focusing on 401(k) plans, including automatic enrollment and contribution rates.
