Commodity Channel Index
|Bid||1,432.05 x 1200|
|Ask||1,439.99 x 1300|
|Day's Range||1,407.62 - 1,446.30|
|52 Week Range||1,008.87 - 1,530.74|
|Beta (5Y Monthly)||1.02|
|PE Ratio (TTM)||30.90|
|Earnings Date||Jul 23, 2020 - Jul 27, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1,523.87|
(Bloomberg Opinion) -- I returned to the office this week, joining thousands of bankers from Citigroup Inc. to Morgan Stanley that are trickling back to their desks in Hong Kong. After almost five months working from home, it's going to take some getting used to.The easing of coronavirus lockdowns heralds the beginning of the end for the world's greatest work-from-home experiment. Perhaps. Twitter Inc. will let employees work from home permanently even after the outbreak recedes, while others such as Google have said staff should expect to stay away for the rest of the year. The upheaval caused by the pandemic has caused many to question whether we will ever return to business as usual, giving rise to headlines such as “the death of the office.” I have my doubts.My initial reaction at being told to stay home in January was panic. With two teenage daughters about to start online schooling and a husband who would also need to work from home, I struggled to see how our crowded 47th-floor apartment would cope. I’d had a taste already, when the office became all but inaccessible for several days during the height of Hong Kong’s protests last year, so I knew what we were facing. Over the following, fractious few months, I have jostled for space on the dining table, mediated disputes between the girls, and tussled over the yoga mat — a crucial stretching prop for laptop-induced shoulder strains, as well as an essential accessory for online PE classes.Somewhere along the line, I grew to like it. I'll miss the home-work experience, when it finally ends (like many other companies in Hong Kong, our return is on a split-team basis, so we aren’t back at the office full-time yet). The family has bonded more tightly as a result. I’ve grown accustomed to the home-office rhythm, acquiring some admittedly unhealthy habits along the way — such as snacking on Cheetos, bingeing on TV news channels, and reading the obituaries.I’m in the minority, though. We’re fortunate in having more living space than most. In a city such as Hong Kong, which is densely packed with tiny apartments, it’s simply not viable for many people to work from home indefinitely. The average apartment size is 40 square meters (430 square feet) compared with 137 square meters in New York City, according to Jones Lang LaSalle Inc. Many employees just don’t have the room to set up a home office. And living in such cramped quarters, they need to get out regularly. The cost-benefit equation for Hong Kong is skewed. With urban areas being closely packed and the subway system efficient, getting to the office is quick and easy for most people. It may be a different story in the U.S., where cities sprawl into the suburbs, commute times may be long, and public transport is often less reliable. Or in Asian metropolises such as Mumbai, which is densely packed but plagued with horrendous traffic congestion and a more than 150-year-old train network that make suburban working attractive.That’s not to suggest that Hong Kong will escape any long-term impact from Covid. Macquarie Group Ltd. and Nomura Holdings Inc. are among companies that have already decided to cut space in the city’s skyscrapers. Other financial services firms can be expected to follow.Still, there are many office jobs that can’t be done remotely. At most, 30% of bank employees in the city can work from home, Bloomberg Intelligence analyst Francis Chan estimates. “In industries that thrive on information flow and speed, like sales and trading, you may see back offices and compliance work from home but traders will likely have to go back even if they already have three screens at home,” said Parijat Banerjee, a financial services consultant at Singapore-based Greenwich Associates.In any case, most people don’t want to get rid of the workplace, HSBC Holdings Plc analysts James Pomeroy and Davey Jose wrote in a report titled "Leaving the City." They just don’t want to be there all the time. That broad conclusion applies across all developed markets where the technology is adequate to enable remote working, Pomeroy said.Ultimately, offices are more than just a place to do business — like the cities that surround them, they are meeting points for social and cultural exchanges. Humans are social animals, and we need more contacts than those our immediate family provide.That’s a thought that resonated with me this week as I surveyed the near-deserted pantry at Bloomberg’s central Hong Kong offices, a space that was typically heaving with people and animated conversations before the pandemic. A return to normality can’t come soon enough. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Slowly, Americans are migrating back to a very different world — offices designed to accommodate social distancing, staggered schedules, temperature checks, daily deep cleanings, contact tracing and potential testing.
Cities in the U.S. and around the world are beginning to reopen after lockdowns due to the COVID-19 pandemic. Quest Diagnostics (NYSE: DGX) could play a pivotal role in keeping people safe as they head back to work and start resuming their regular day-to-day lives. On May 27, the U.S. Food and Drug Administration (FDA) gave Quest emergency use authorization for its coronavirus test, which will make it possible for people to collect samples at home.
While the S&P 500 has rallied 39% from its March 23 low, the market for long-dated dividend futures has risen just 7%, according to a Thursday note from Goldman Sachs, reflecting concerns over earnings growth and rising chances that a Democratic sweep in November will lead to a reversal of the 2017 corporate tax cuts.
Twitter founder and CEO Jack Dorsey is facing pressure from inside the boardroom and from the White House. Why it could be a recipe for stock gains.
(Bloomberg Opinion) -- Money is many things, but it’s not fake news. So why block WhatsApp from spreading it around?India is the laboratory of choice for Western tech firms to test out their mobile payment capabilities so they can be rolled out from Bangladesh to Nigeria. Facebook Inc. CEO Mark Zuckerberg entered the fray two years ago by enabling the popular messaging service WhatsApp to send and receive money in India. But the beta version, limited to 1 million users, keeps getting blocked from becoming a full-fledged service.Meanwhile, rivals such as Alphabet Inc.’s Google Pay, Walmart Inc.-owned PhonePe and Softbank Group Corp.-backed Paytm are dominating India’s mobile transfers landscape. The troika led with 75 million, 60 million and 30 million customers transacting last month, respectively, according to TechCrunch.While Facebook Inc. deserves scrutiny globally for providing a platform for hate speech, voter manipulation and dissemination of untruth, cashless transfers is one area where WhatsApp can be a force for good. That’s especially true in emerging economies like India. As the Covid-19 lockdown has underscored, hundreds of millions of rural migrant workers in urban centers lack both liquid savings and a state-provided safety net. Increasingly ubiquitous smartphones can bring vulnerable citizens the financial security that bank branches can’t supply. To restrain WhatsApp is a waste of the infrastructure India has built. Four years ago, the country set up a shared interface linking more than 150 participating banks. An account holder in any of them can send or receive money to anybody else on the network. The two parties don’t need to know anything more than each other’s mobile number or a virtual ID. From Google to Walmart, any app can tap the common protocol, which already supports transactions worth more than 10% of gross domestic product. Google is so impressed it wants the U.S. Federal Reserve to consider adopting the standard. WhatsApp needs a nod from the regulator, the National Payments Corporation of India, to throw open the switch. The first roadblock was the central bank’s requirement that payment data be stored only locally. That hurdle has been crossed, but the service remains restricted. In February, a little-known think tank filed a lawsuit, asking India’s Supreme Court to block payments on WhatsApp “since it’s known to have failed to secure sensitive data of its users.” In an affidavit this week, WhatsApp said that the petition by the “busybody” was not maintainable. Legal challenges in India can drag on endlessly.The popularity of the messaging app, which has more than 400 million Indian users, is its biggest strength and its worst enemy. Take pinBox, which wants to introduce digital micro-pensions to the masses across Asia and Africa. It’s waiting eagerly for WhatsApp payments. The combination of financial and digital illiteracy can be a showstopper; it’s much easier to promote a saving culture on a messaging app where people spend most of their waking hours, anyway. The familiarity with the medium cuts both ways. Recently, the service was used to accuse Muslims in India of deliberately transmitting Covid-19, triggering assaults on the minority community. But then, disinformation isn’t limited either to WhatsApp or India. TikTok, the most-downloaded app during the pandemic, had posts claiming that 5G technology helps spread the virus, fueling violence against telecommunications workers and equipment across the U.K. and Europe. In India, the user-video platform has raised hackles for enabling sharing of content that promotes acid attacks on women.While regulators should push Zuckerberg to keep making social media safer, for instance by restricting message forwarding, they need to be pragmatic when it comes to online payments. China is far ahead. But that market, in the pincer grasp of Alipay and WeChat Pay wallets, isn’t open to U.S. firms. Besides, the scope for replacing cash is bigger in India, where 14% of money supply is still currency in circulation, a figure that China has crunched to 4%. The size of the opportunity is why India is attracting attention.Facebook recently took a 10% stake in Mukesh Ambani’s Jio Platforms Ltd. for $5.7 billion. Jio’s 4G network is India’s biggest, with nearly 400 million customers. Ambani, Asia’s richest man, wants to connect a billion-plus buyers with neighborhood stores, combining physical and digital retail. Payments via WhatsApp will be a way to achieve that link, with brands giving discounts and financiers offering in-store credit based on Jio’s scoring model.Others will catch up. Amazon.com Inc. is planning to take a $2 billion stake in Bharti Airtel Ltd., Jio’s closest rival, Reuters has reported. According to the Financial Times, Google is exploring an investment in Vodafone Group Plc’s struggling India wireless business. (Vodafone Idea Ltd. said there’s no such proposal before its board.) The rising global interest in digitizing the billion-plus-people economy could be sustained, as it coincides with what may be a long-drawn tech cold war between China and the West. Although India has recognized privacy to be a fundamental right, giving grounds for legal challenges against tech firms, it has yet to enact a data protection law. That’s where the focus has to be, not on limiting competition. The central bank needs to strike a balance between safeguarding financial stability and encouraging innovation such as “account aggregators,” who compile and share financial data with the consent of users looking for loans or insurance. With most manufacturing and services in disarray, helping money go viral is India’s best chance to break out of the Covid gloom.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Last year, Google launched the beta of Currents, which was essentially a rebrand of Google+ for G Suite users, since Google+ for consumers went to meet its maker in April 2019. While Google+ was meant to be an all-purpose social network, the idea behind Currents is more akin to what Microsoft is doing with Yammer or Facebook with Workplace. To complicate matters, Google kept Google+ around, even after the launch of Currents, but in an email to G Suite admins, it has now announced that Google+ for G Suite will close its doors on July 6, after which there will be no way to opt out of Currents or revert back to Google+.
The Justice Department and nearly all state attorneys general have opened investigations into allegations that Google has broken antitrust laws. Google's shares were up 1.6% on the day. Google spokeswoman Julie Tarallo McAlister said the company continued to engage with the Justice Department and the Texas attorney general's office.
The Justice Department and nearly all state attorneys general have opened investigations into allegations that Google has broken antitrust laws. Google's shares were up 1.6% on the day. Google spokeswoman Julie Tarallo McAlister said the company continued to engage with the Justice Department and the Texas attorney general's office.
The job losses induced by COVID-19 are a catastrophic development for millions of Americans who could least afford it. Between skyrocketing healthcare costs, a lack of safety net, and now unemployment, these are desperate times for many people. And it's not inconceivable that during this some will fall into the payday loan trap. Fortunately, the payday loan industry--lenders who lend to financially vulnerable consumers while charging enormous, often unaffordable, fees and interest rates--has been in decline for some time now. Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) recently announced it was banning payday lenders from its Google Play app store. And Utah, the state where much of the payday loan industry is located, found that one in four payday lenders had shut down in the last four years. In an effort to squash payday loans once and for all, a group of bi-partisan lawmakers announced they are planning to introduce legislation that would expand consumer protections by putting a cap on interest rates for payday, car title, and installment loans for all Americans. The bill, the Veterans and Consumers Fair Credit Act, will build on the 2006 Military Lending Act, which capped interest rates on loans to active-duty military to 36%. For context, the St. Louis Fed found calculated the APR on a typical payday loan of 391%. "It's hard to imagine who would want to take out a loan with an interest rate of 150 or 200% a year," Rep. Glenn Grothman, R-Wis. said. "There is no way that is in anybody's best interest at all, and taking advantage of people who are either in desperate straits or more likely just plain financially illiterate is immoral."Who Is Falling Prey The payday lending industry has received far more scrutiny in recent years, as new regulatory bodies like the Consumer Financial Protection Bureau coupled with the rise of alternative lenders has shined a light on the predatory practice (HBO's Last Week Tonight even did a 16-minute segment on it back in 2014). But that hasn't stopped all consumers from borrowing. A recent CNBC/Morning Consult survey found that 26% of millennials and Gen X'ers had taken out a payday loan in the last two years, while 15% of Gen Z and Baby Boomers said they had done so. And the problem is not just limited to America. In Australia, 30,000 payday loans are taken out a week, with the amount borrowed likely to exceed $1.7 billion by the end of the year. Some states have taken matters into their own hands. California recently enacted a bill that blocked lenders from charging more than 36% on consumer loans of $2,500-$10,000. Ohio capped auto loan interest rates at 28% in April. Grothman also said the federal bill would not supersede state legislation. Industry advocates argue that putting a cap on payday loans will significantly hinder the ability of cash-strapped consumers to get short-term loans. Rather than resort to using a payday lender, consumers in need should look for services that provide a ladder to better credit. A growing list of modern online lenders provide consumers with more options than ever for getting access to cash if they need it. See more from Benzinga * Will FANG Lead The Market Rebound?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The office will never be the same. What people can expect when they return to the office, or if the new office is home.
Zoom continues to focus greatly on improving the security of its platform amid a surge in new users.
Contracts for a number of coronavirus data deals that the U.K. government inked in haste with U.S. tech giants, including Google and Palantir, plus a U.K.-based AI firm called Faculty, have been published today by openDemocracy and law firm Foxglove -- which had threatened legal action for withholding the information. Concerns had been raised about what is an unprecedented transfer of health data on millions of U.K. citizens to private tech companies, including those with a commercial interest in acquiring data to train and build AI models. In a blog post today, openDemocracy and Foxglove write that the data store contracts show tech companies were "originally granted intellectual property rights (including the creation of databases), and were allowed to train their models and profit off their unprecedented access to NHS data."
Google said state-backed hackers have targeted the campaigns of both President Donald Trump and former Vice President Joe Biden, although it saw no evidence that the phishing attempts were successful.
It looks like Zoom (NASDAQ:ZM) is finally getting it right. And that makes Zoom stock the one to hold in the post-pandemic world as businesses and schools embrace the work-from-home culture in 2020.Source: Michael Vi / Shutterstock.com It was a rocky spring for Zoom, the remote conferencing company based in San Jose, California. Its video conferencing platform was one of the hottest on the market in February and March when the novel coronavirus began forcing people inside.But a slew of embarrassing mistakes cast serious doubt about whether the company was mature enough to hang with the big boys. And then, of course, big tech companies like Facebook (NASDAQ:FB), Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) swooped in with their own video conferencing services.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut fortunately for Zoom stock, the company seems to have made it through its growing pains and is emerging on the other side as a stronger company -- and a solid investment. Zoom Earnings at a GlanceZoom's first-quarter earnings report on Tuesday was a knockout. The company reported revenue growth of 169% on a year-over-year basis and roughly doubled its revenue guidance for the full year. * 7 Hotel Stocks to Buy Before Vacationing Restarts For the quarter, ZM posted $328.2 million in revenue versus analysts' expectations of $202.7 million. Earnings were 20 cents per share, versus analysts' expectations of 9 cents per share.For the full year, Zoom guided for adjusted earnings per share of $1.21 to $1.29, and revenue of $1.78 billion to $1.8 billion. That's a big increase from March, when the company guided for full-year EPS of 42 cents to 45 cents and revenue between $905 million and $915 million.CEO Eric Yuan called the results humbling:"We were humbled by the accelerated adoption of the Zoom platform around the globe in Q1. The COVID-19 crisis has driven higher demand for distributed, face-to-face interactions and collaboration using Zoom. Use cases have grown rapidly as people integrated Zoom into their work, learning, and personal lives … I am proud of our Zoom employees who dedicated themselves to support customers and the global community during this crisis. With their tremendous efforts, we were able to provide high-quality video services to new and existing customers."Zoom did not disclose the number of active users on the platform, but Bernstein analysts estimate ZM's mobile app had 173 million monthly active users as of May 27, an increase from 14 million on March 4. A Huge Turnaround for ZoomIt wasn't that long ago that Zoom's executive team was humbled in a different way. The company was founded in 2011, but many people didn't start using it until the coronavirus forced businesses and schools to operate remotely.Hackers quickly found ways through Zoom's gaping holes in security, and "Zoombombing" became a thing. Classes, church sermons and business meetings were disrupted by people randomly dialing in. There were countless reports of meetings ruined by trolls' homophobic or racist comments, pornography and other misdeeds.Some districts ordered their schools to stop using the platform altogether and the FBI began investigating. In April, Yuan gave a brutally frank assessment to The Wall Street Journal, saying "I really messed up [as CEO]" and he further speculated that the company may not survive additional privacy breaches.But it seems to have met the challenge.Zoom quickly pushed out new privacy and security features, including 256-bit encryption, giving meetings hosts more control over participants and improved cloud recording security. It also purchased the startup Keybase so it can offer end-to-end encryption of video conferences.Those efforts seem to have paid off. Zoom this week reported that the number of its customers with more than 10 employees grew by 354%, and the number of clients paying more than $100,000 to use ZM's platform increased by 90% year-over-year to 769.The New York City Public School system was also satisfied, and agreed to allow teachers to use Zoom platforms again. The Bottom Line on Zoom StockZoom isn't out of the woods by any means. There are huge competitors -- Microsoft with its Microsoft Teams platform, Alphabet with its Google Meet and Facebook with its recently launched Messenger Rooms.Zoom will have to keep innovating to keep its advantage, but as for now, it's soundly in the game. ZM stock is up more than 200% so far this year.Zoom stock is rated a strong buy in my Portfolio Grader right now, where it has an 'A' grade.Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system -- with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the "Master Key" to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * Top Stock Picker Reveals His Next 1,000% Winner * The 1 Stock All Retirees Must Own * Look What America's Richest Family Is Investing in Now The post Zoom Turns the Corner After Privacy Missteps appeared first on InvestorPlace.
(Bloomberg) -- Twitter Inc. and Facebook Inc. removed a Trump campaign video tribute to George Floyd due to copyright claims, the latest escalation in a confrontation between the social media platforms and one of their most influential users.The @TeamTrump account had tweeted a video collage of images and clips depicting peaceful protests, moments of mourning and law enforcement officers hugging civilians in the wake of the killing of George Floyd, an African-American man, while in police custody. Accompanied by a gentle piano soundtrack and President Donald Trump’s speech about “healing, not hatred,” it urged Americans to unite.The video, still available to view on the president’s YouTube channel, appears to have gathered most of its content from social media posts, and at least one copyright holder made a complaint to Twitter about the use of their photo, a company spokesperson told The Hill.Facebook also removed the Trump campaign team’s video from its website and Instagram after receiving a complaint from a copyright holder who was also an Instagram user, according to the company.“Organizations that use original art shared on Instagram are expected to have the right to do so,” a Facebook spokesman said.The U.S. president has an audience of 81.7 million followers on his personal Twitter account, which he uses to celebrate accomplishments of his administration and, often, lambaste opponents. In the wake of Floyd’s death and subsequent protests, he tweeted a warning that “when the looting starts, the shooting starts,” which Twitter deemed to have been in breach of its rules against glorifying violence and led the company to hide that message behind a warning label. Earlier, the social media giant had placed a fact-check notice on another Trump tweet, which also earned the president’s displeasure.Facebook took no action on the president’s post on the protests, drawing criticism from employees, former workers and advocates.Read more: Trump Ire Draws Eyeballs to Twitter, Where Attention Is an AssetIn retaliation for what Trump and his supporters have deemed political bias, the president issued an executive order targeting social media companies like Twitter. The move -- which could expose Twitter, Facebook and other technology giants to a flurry of lawsuits -- sparked broad condemnation from liberals and even some conservatives who accused the president of launching an unconstitutional assault on free speech.(Updates with further details on Facebook from first paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Amazon.com Inc. is in preliminary talks to buy a stake in No. 2 Indian carrier Bharti Airtel Ltd. for at least $2 billion, Reuters reported, joining Facebook Inc. and other U.S. giants in betting on one of the world’s fastest-growing internet arenas.The U.S. online retailer is in early-stage discussions to buy about a 5% stake in the Indian wireless operator, Reuters said, citing anonymous sources. A deal will help Amazon access Bharti’s 300 million subscribers -- a user base akin to the entire U.S. population. On Friday, the Indian carrier said in a statement it wasn’t considering any proposal to sell a stake to Amazon, referring to reports as “speculative.”American technology and investment giants have been buying stakes in Indian companies to build their presence in Asia’s second-most populous nation. Facebook agreed to invest about $5.7 billion into a unit of Mukesh Ambani’s Reliance Industries Ltd. in April, while Microsoft Corp. is reportedly considering a stake in the same company.Amazon already has deep roots in India, where Chief Executive Officer Jeff Bezos has visited and vowed to build one of his biggest e-commerce operations outside of the U.S. Bezos, now the world’s richest man, said during a trip in January that his company would invest another $1 billion on top of the billions it’s shelled out to bring small and medium-size businesses online. Amazon is now vying with Walmart Inc.’s Flipkart to tap an increasingly affluent population adopting smartphones at a rapid clip.Read more: Jeff Bezos’s India Visit Marked by Probe and ProtestsAn Amazon spokeswoman in India declined to comment. “We routinely work with all digital and OTT players and have deep engagement with them to bring their products, content and services for our wide customer base. Beyond that there is no other activity to report,” a Bharti spokesperson said.An influx of capital would be welcome to New Delhi-based Bharti Airtel, which has come under pressure to beef up its offerings ever since Ambani’s technology venture went on a deal spree to secure about $10 billion in investment from Facebook to KKR & Co. Airtel’s billionaire Chairman Sunil Mittal may be looking to leverage the diverse businesses in his empire just as Ambani goes into overdrive to transform his oil-and-petrochemicals company into an Indian e-commerce and digital payments titan with Jio Platforms.Read more: How Facebook’s Reliance Deal Upends a $1 Trillion Digital ArenaIn its 25 years of operations, Bharti Airtel has survived frequent policy changes in one of the world’s toughest telecommunications markets. It lost its position as India’s largest wireless carrier last year to Ambani’s Reliance Jio Infocomm Ltd., which debuted in 2016 and shook up the industry with free calls and cheap data. The most recent blow to Bharti Airtel came in October, when the nation’s top court in a shock ruling ordered it to pay $3 billion in back fees.The technology ambitions of Ambani, Asia’s richest man, have turned the spotlight on his telecommunications rivals, including Vodafone Idea Ltd., the struggling Indian business of British operator Vodafone Group Plc. The Financial Times reported May 28 that Alphabet Inc.’s Google is considering acquiring a stake in that venture. Vodafone Idea said it isn’t currently considering any such proposal.Besides telecommunications, Mittal’s Bharti Enterprises has businesses spanning insurance, real estate, education and farm food.(Updates with Bharti Airtel’s comment from the second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
As anger and upheaval have spread on to American streets, the tame annual meeting season has added to the sense that Big Tech, insulated from the worst of the economic devastation, has retreated into a digital cocoon. Annual shareholder meetings are usually carefully stage-managed by companies to allow shareholders a say without giving up any real control. In person, they are also a chance for shareholders to grab the microphone, at least for a moment, and berate the directors and managers who theoretically act in their name.
Alphabet (GOOGL) closed the most recent trading day at $1,414.30, moving -1.73% from the previous trading session.
Many people make money off of their YouTube videos through ad revenue, but you might not know how Youtube Ad Revenue works. The answer is quite simple.
(Bloomberg) -- Alphabet Inc.’s Google is shaking up its leadership, putting control over the company’s search engine and advertising product teams under the same person and moving leaders who have been around since the company’s founding to less visible teams.Prabhakar Raghavan, who led advertising product since 2018, will replace Ben Gomes as head of search. The new advertising product chief, Jerry Dischler, will report to Raghavan, signaling that the two groups will now be run by one central leader.Philipp Schindler, Google’s chief business officer who oversees the company’s advertising operation and large ad sales force, will continue to report to Chief Executive Officer Sundar Pichai. Gomes, an engineer who has been at the company for two decades, will work on educational and culture projects, according to a Google spokesman. Jen Fitzpatrick, another 20-year Google employee, will move from Maps to lead a group of engineers running the company’s internal tech infrastructure. The moves were first reported by news site Search Engine Land and confirmed by a Google spokeswoman.The executive changes are the most significant since Pichai took over the dual role of Google and Alphabet CEO after founders Sergey Brin and Larry Page stepped down. Google shares fell 1.9% at 3:36 p.m. in New York(Updates with role of chief business officer in third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- A Chinese hacking group targeted the personal email accounts of Joe Biden’s campaign staff, Google said Thursday.The company recently observed the Chinese activity against the Democratic presidential campaign, according to a company statement.Google also witnessed new Iranian phishing attempts against the personal email accounts of staff on U.S. President Donald Trump’s campaign -- continuing a phenomenon first observed in October.Neither of the attempts appeared to be successful, according to Google. The company shared information with the targets of the attacks, as well as with federal law enforcement, the company said.The Biden campaign confirmed in a statement that it was aware of the reports. The campaign has known that it would be targeted with attacks of this kind and was prepared, according to the statement. The Trump campaign didn’t immediately respond to a request for comment.Google’s announcement -- first shared on Twitter by Shane Huntley, who leads the company’s Threat Analysis Group -- comes amid fears that the 2020 election may face the same kind of hacking and disinformation campaigns that occurred in 2016. That year, Russian hackers infiltrated the Democratic Party and waged a covert social media campaign to sow chaos and division among U.S. voters.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.