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Tencent Music presses pause, Estée Lauder in legal battle, Facebook takes action

Yahoo Finance
Associate Contributor

Here’s a look at some of the companies the Yahoo Finance team will be watching for you today.

China’s Tencent Music is reportedly pushing off its public offering until at least November. That’s in part because of this week’s market turmoil. They were set to begin a road-show promoting the IPO next week.

Two of the biggest names in skin-care are now in a legal battle. Estée lauder is suing skin care company Deciem after the founder shut down all of their stores. Estée Lauder owns a minority stake in the company behind “The Ordinary” and other skin products. In the suit they say the founder is exhibiting “erratic” and “disturbing” behavior.

Facebook is again cracking down on misinformation online. The social network shut down more than 500 pages, and 250 accounts they say consistently broke the rules. That includes sharing false or misleading political content. Facebook says pages like “Right Wing News” and “Reverb Press” were using fake accounts or multiple accounts with the same names.

And we have a new promise from Tesla: Order by Monday and you’ll get your car before the end of the year — before a $7,500 tax credit expires. Tesla has been scrambling to deliver cars, as orders for the new Model 3 pile up. And most of these new orders may have to wait months to get their cars.

Allbirds, the San-Francisco based shoe company, is now worth $1.4B. It’s known for its sustainable footwear,  using materials like eucalyptus tree fiber and laces out of recycled plastic bottles. It only has two store locations in New York and San Francisco, most of its sales happen online.