Facebook to move to Hudson Yards, New York

The US tech company Facebook (FB) is increasing its presence in New York. The company has agreed to rent three towers totalling 139.000 m2 in the three developing buildings in the west side area of Manhattan, Hudson Yards. According to the information, the employees are moving already next year to the new offices.

The Hudson Yards has got several real-estate certifications for its sustainable buildings, materials and public transport. The area has already Leed Platinum for Hudson Years 10 and the Eastern Yards has got Leed- Neighborhood Development Gold (Leed ND).

The area is expected to gain more than 20 million visitors annually.  The area is having over 14 acres of public plazas, gardens and over 100 different shops and high-end retailers. The shops include for example luxury brands like Dior, Tiffany and Watches of Switzerland.

Facebook shares closed down 0,02 % to 193,15 dollars in New York on Thursday.

 

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Facebook to launch News Service in the US

Facebook (FB) has launched its News Service piloting in the US on Friday. According to the company info, Facebook wanted to create a service that will give consumers more control over the stories they see and the ability to explore a wider range of their news interests, directly within the Facebook app.

The news service is done with some of the global publishers and it includes also the financial incentive for the large publishers. These publishers include for example Wall Street Journal, the Washington Post, BuzzFeed News, Business Insider, NBC, USA Today, the Los Angeles Times and Bloomberg News.

Facebook says there are these sections to watch:

  • Today’s Stories chosen by a team of journalists to catch you up on the news throughout the day
  • Personalization based on the news you read, share and follow, so you can find new interests and topics and Facebook News is fresh and interesting every time you open it
  • Topic sections to dive deeper into business, entertainment, health, science & tech, and sports
  • Your Subscriptions, a section for people who have linked their paid news subscriptions to their Facebook account
  • Controls to hide articles, topics and publishers you don’t want to see

The Facebook share price closed up 0,81 % to 187,89 dollars in New York today. During a one year time horizon, the Facebook shares have rosen 29,25 %. During the week, the company said it will delay the Libra, crypto currency, in order to seek the US regulatory approval first.

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Facebook makes offer to leading media to license content – WSJ

According to Wall Street Journal, Facebook (FB) has approached ABC News, Dow Jones, Washington Post and Bloomberg as it plans to launch a news section later this year.

WSJ says that Facebook would be willing to pay as much as 3 million dollars a year to licence entire stories, headlines and previews of articles.

Facebook, which launched the digital currency Libra in June, has faced an outcry of the privacy issues. The company shares rose 2,17 % to 190,16 dollars in New York today.

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Brexit: Weekend elections – ECB rate cut? (corrected)

Corrected: the Conservative Party elections timetable

The Brexit situation in the UK will move forward when the Tories had their elections for the next Prime Minister and party leader. The markets are considering Boris Johnson the likely winner to place the former Prime Minister Theresa May. The other candidate is foreign minister Jeremy Hunt.

The next UK Prime Minister, which name will be published during the beginning of this week, will lead the country out of the EU block, with or without a trade deal by the October 31st.

In the UK the sterling has decreased to its lowest levels in 2 years. The FTSE 100-index is trading up 0,45 % to 7542,86 points today.

The financial markets have seen the global interest rate easing starting this time in Asia. For example the South Korea and Indonesia have lowered their interest rates last week. Now the expectations are for the US Fed and European Central Bank, which is having its next meeting on July 25th. According to Reuters, markets are waiting for a 10-basis point cut with 60 % chance.

During this week there will be also earnings releases from Facebook (FB) on Wednesday and Alphabet (GOOG) on Thursday, as well as Amazon (AMZN)

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