Facebook remains vigilant. The group is going to ban advertisements posted by state-controlled media (on a capital or editorial level) on its American platforms. Blocking will take place from the summer onwards, as a precautionary measure in the run-up to the U.S. presidential election. Facebook points out, however, that state media rarely advertise in the United States.
And three. JD.com has filed for a second line of listing in Hong Kong. The Chinese group is following in the footsteps of its compatriots Alibaba and more recently NetEase, while Washington is preparing to tighten legislation for the listing of Chinese companies in the United States.
Lufthansa gets out of Dax. The airline Lufthansa will be replaced by the real estate group Deutsche Wohnen in the DAX30, the star index of the Frankfurt stock exchange. This change is the consequence of the fall of the carrier's share on the stock exchange, curtailed by the Covid-19 crisis. The management is obviously disappointed, but it has other fish to fry.
Storm in a tea cup. Elon Musk (Tesla) tweets Jeff Bezos that Amazon.com must be dismantled because monopolies are harmful. "It's time to dismantle Amazon. Monopolies are evil," he tweeted. The affair started from another tweet, that of an author whose book about Covid-19 was rejected by the self-publishing platform of the commercial giant, Kindle Direct Publishing. The book was withdrawn "by mistake," Amazon pleaded, which put it back online.
Disappointing results. Gap publishes degraded results that are worth the title to fall by more than 5% off session. In the same vein, Slack gave up its medium-term objectives, leading to a 15% drop in the stock after the close, as investors hoped that the group would benefit from the confinement with its online collaborative solutions. Missed.
In other news. Virgin Atlantic will resume flights on July 20 from London to Orlando, New York, Los Angeles, Hong Kong and Shanghai. NetApp will acquire Spot. Bloomberg says Rollins is for sale. According to the BBC, Bentley (Volkswagen Group) will cut a thousand jobs in the UK. Simon Property is suing Gap for non-payment of rent in the amount of $66 million. ZoomInfo Technologies is booming for its first listing session in the United States.