Meituan’s billionaire founder Wang Xing was seen among the tens of thousands in attendance at events marking the 100-year anniversary of the Communist Party, Bloomberg reported, citing state television coverage of President Xi Jinping’s speech. The event is one of the most important for modern China, marking a historical milestone for the country’s ruling party and has been handled with...
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The Briefing Markets Economy
Snap Sends Shiver Through Ad Stocks
Uh oh. Snap’s warning this afternoon that its second-quarter revenue and profits will be below what it projected just a few weeks ago, thanks to a faster than expected deterioration in macroeconomic conditions, is an ominous signal for the ad market. Snap had outperformed many of its digital ad peers, most obviously Meta Platform, Twitter and Pinterest, in revenue growth in recent quarters. If...
Zoom Shares Jump After Strong Earnings Report, Forecast
Klarna to Cut 10% of Global Workforce
Mark Zuckerberg Sued by D.C. Attorney General Over Cambridge Analytica Scandal
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