Rupert Murdoch is calling out Facebook, saying the social media site should pay publishers a carriage fee for the content on its site, just like cable companies do. Murdoch said Facebook and Google show news sources that are profitable but unreliable. Alex Heath, Senior Reporter with Cheddar, comments on whether we could see Facebook and Google develop a cable-like relationship with publishers.
Heath said Facebook and Google won't have a cable-like relationship with publishers because they are directly competing for the same ad dollars. The Senior Reporter called the duo "frenemies" and added that it's not appropriate to draw a parallel to the way cable companies operate.
We also hit on two other Facebook headlines. The social media company is reportedly buying Confirm, a software company that specializes in authenticating ID's. The acquisition is part of the social media giant's ongoing efforts to keep tabs on who it sells ads to.
In other Facebook news, some high level execs are coming and going. The Marketing Chief is stepping down, while a new A.I. Director is coming in. The social media company has been trying to break into the artificial intelligence space recently and even expanded its footprint overseas to grow the business. Heath said the hiring emphasizes Facebook's optimistic outlook on artificial intelligence, which is contrary to the doom-and-gloom outlook held by Tesla CEO Elon Musk.
Darden, the parent company of chain restaurants like Olive Garden and Ruth's Chris Steakhouse, beat Wall Street estimates in its latest earnings report.
A former Facebook executive pled guilty to stealing more than $4 million from the company while she was employed there.
Rising safety concerns over water bead products marketed to kids have prompted major retailers like Amazon, Target and Walmart to pull some toys off their shelves.
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Intel is out with a new product to challenge other big players in the space like Nvidia and AMD.
Stocks fell after the opening bell Friday but will end on another positive week.
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Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
Mortgage rates have dropped below 7% for the first time since the middle of August.
