Companies

Aliens

Egypt invited Elon Musk to see the Great Pyramids of Giza

One of Egypt's top government officials has invited Elon Musk to see the Great Pyramids of Giza for himself after the Tesla CEO claimed that the historical landmark was built by aliens.

Eastman Kodak Co.

Shares add another 500% as drug shift keeps boosting stock

Shares of Eastman Kodak Co. have leapt 2,441% higher this week, sending its market valuation to nearly $2 billion, after it won a government loan to help produce ingredients used in key generic medicines to fight the coronavirus.

Social media

Reddit bans r/The_Donald as part of a major expansion of its rules

Reddit will ban r/The_Donald, r/ChapoTrapHouse, and about 2,000 other communities today after updating its content policy to more explicitly ban hate speech.

Advertising

Facebook and Twitter are paying the price for hatred

Shares of both Facebook and Twitter were down more than 7% in mid-day trading Friday after Unilever said it would pull its advertising from the social media companies for the rest of the year.

Simon & Schuster

Federal judge will not stop publication of John Bolton's book

A federal judge expressed doubt Friday he could stop the upcoming publication of the book by former national security adviser John Bolton.

Mark Zuckerberg

Facebook will now allow users to turn off political ads

Facebook CEO Mark Zuckerberg on Tuesday announced the platform would allow its users to turn off political ads: "Everyone wants to see politicians held accountable for what they say — and I know many people want us to moderate and remove more of their content," Zuckerberg wrote in a USA Today op-ed article. "For those of you who've already made up your minds and just want the election to be over, we hear you — so we're also introducing the ability to turn off seeing political ads."

Bloomberg Exclusive

Nissan: The takedown of Carlos Ghosn

Carlos Ghosn always said he was set up. Now there’s some evidence to support his claim. According to people familiar with what happened and previously unreported internal correspondence, the campaign by top Nissan Motor Co. executives to dethrone one of the most celebrated leaders in the automotive industry started almost a year before Ghosn’s arrest in late 2018 for alleged financial misconduct.

Adidas

At least 30% of new US positions will be filled by black or Latinx people

A new hiring initiative at Adidas is aiming to increase the representation of people of color in its North American workforce.

Shortnews

Kanye West Yeezy

Gap shares fall after threat

Kanye West's threat to walk away from his fashion company's fledgling partnership with the Gap has sent shares sharply lower. Gap's stock fell nearly 6% following West's comments. Videos taken at the event show the rapper criticizing Gap and Adidas, another apparel company his Yeezy brand partnered with. West noted he was not on either company's board. "That has to change today or I walk away," he said. The Yeezy deal could give Gap a much-needed financial and creative boost.

Goya Foods

Donald Trump: Support for cans

Trump is showing his support for Goya Foods on Instagram, as the company faces a boycott after its CEO praised the president at a recent White House event. Trump shared a picture of himself in the Oval Office, flashing two thumbs up while displaying several Goya products on the Resolute Desk. Earlier today, the president claimed in a tweet that Goya, the largest Hispanic-owned food company in the US, was financially benefitting from the boycott. That tweet came a day after Trump’s daughter and senior adviser, Ivanka Trump, showed her support for the company by tweeting a photo of herself with a can of Goya beans.

Apple

Rage and insurrection from developers

Apple is facing a sudden public backlash from developers large and small against the tax it imposes on some in-app purchases. Though apps can be hosted on the App Store for free, Apple charges a commission of 15% to 30% on certain purchases made in the app. If, for example, you buy a premium Spotify subscription through Spotify's iOS app, Apple takes a 30% cut. The same fee applies to other digital-content purchases, such as virtual items or e-books. This week, a buzzy new subscription email service called Hey said Apple was trying to strong-arm it into integrating in-app purchases so it could get this commission. Hey, which comes from Basecamp and costs $99 a year, doesn't let you subscribe or pay inside the iOS app.