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Thursday, April 22, 2021

Economy

Oil slips on COVID-19, data woes; stocks rebound

NEW YORK — World stocks rose on Wednesday as Wall Street and Europe bounced back from large drops, while oil prices continued to be weighed down by rising COVID-19 cases in Asia. Concern that record coronavirus infections in India, likely restrictions in Japan and rising cases in Latin America will be a hurdle for the […]

Technology

Well benig

Asian Stocks Up, Spike in COVID-19 Cases Still on Investors’ Minds

Investing.com – Asia Pacific stocks were mostly up Thursday morning, breaking two consecutive days of losses after their U.S. counterparts got a boost by...

Credit Suisse had more than $20 billion exposure to Archegos investments – WSJ

Parts of the bank had not fully implemented systems to keep pace with Archegos' fast growth when Archegos bets on a collection of stocks...

Apple to boost ads business as iPhone changes hurt Facebook

Apple will expand its advertising business, according to two people familiar with its plans, just as it brings in new privacy rules for iPhones that are likely to cripple the ads offered by its rivals, including Facebook.The iPhone maker already sells search ads for its App Store that allow developers to pay for the top result. In searches for “Twitter”, for example, the first result is currently TikTok. Apple now plans to add a second advertising slot, in the “suggested” apps section in its App Store search page. This new slot will be rolled out by the end of the month, according to one of the people, and will allow advertisers to promote their apps across the whole network, rather than in response to specific searches. Apple declined to comment. The expansion is the first concrete sign that Apple plans to enhance its own advertising business at the same time as it shakes up the broader $350bn digital ads industry led by Facebook and Google.Apple’s forthcoming software update, iOS 14.5, will ban apps and advertisers from collecting data about iPhone users without their explicit consent. Most users are expected to decline to be tracked, dealing a huge blow to how the mobile advertising industry works. Apple has said the changes will improve the privacy of its users, but some critics have accused the company of hoping to boost its own fledgling advertising business. Mark Zuckerberg, the Facebook chief executive, said: “Apple may say they’re doing this to help people, but the moves clearly track with their competitive interests.” The search page of the iPhone App Store, showing the “Suggested” section © FT Apple has long wanted to be a big player in mobile advertising. In 2010, it paid $275m to acquire Quattro Wireless, a mobile advertising company, after being beaten by Google in the bidding for $750m AdMob. The same year, it launched iAd, a multiyear effort to build an advertising business. At launch, iAd had a minimum contract price of $1m, but within a year it had cut the requirement by half. Apple tried to maintain creative control of ads and was reticent to share user data with marketers, according to analysts at Bernstein. Two years later Apple cut the minimum contract to just $50 and the whole effort was shut down in early 2016.Meanwhile, the market for online advertising has boomed, with annual sales of $378bn, according to the market research group Insider Intelligence. Google and Facebook are the two biggest players in the market, but Tim Cook, Apple’s chief executive, has repeatedly attacked their business models as unsustainable because of how they accumulate large troves of data to target their ads. Bernstein estimated that Apple currently earns around $2bn a year from search ads in the App Store, with 80 per cent margins. Apple also sells ads in its Stocks and News apps. A second advertising slot in the App Store is likely to appeal to advertisers after the iPhone’s privacy changes reduce the effectiveness of targeted ads. But there is more than money at stake, according to Eric Seufert, a mobile advertising expert.A decade ago, the App Store played a critical role in how consumers discovered new content. Seufert told the tech site Stratechery earlier this year that Apple used to be “king maker — if you got featured, your company valuation might increase by a hundred million dollars.”He suggested that Apple now wishes to regain this level of control. “If Apple cripples mobile advertising, then the App Store becomes the primary discovery point for apps again, and Apple decides how people use our iPhones, Apple decides which apps are the most popular,” he said.

Technology

U.N.’s Achim Steiner speaks about climate change, COVID with Reuters

Environmental action has been too slow, U.N. official and environmental expert Achim Steiner said on Thursday, but transformation is possible. “We have choices as no generation before us has had. We have more technology, we have more science, we have more wealth in the world that we can deploy,” Steiner said. Steiner spoke during a […]

Bill to establish maritime security trust fund passes second reading in Reps

The bill was first read on 15th March 2021 and seeks to exist for 8 years from the commencement date of the Act The House of Representatives on Wednesday passed for second reading a Bill for an Act to establish Nigerian Maritime Security Trust Fund and other matters related thereto (2020) and referred it to the relevant committee for further legislative actions. Sponsored by Yusuf Gagdi (APC, Plateau), the chairman, House Committee on Navy, the Bill provides for the establishment of a special fund for training and retraining of naval personnel for optimum productivity. The proposed legislation is also seeking funds for equipment and machinery that will aid the seamless protection of the nation’s waterways by the Nigerian Navy, thereby guaranteeing a robust economic development of the country. Read Also: NSML: Driving sustainable shipping to transform Nigeria’s maritime sector In his lead debate, Gagdi maintained that since the mainstay of the Nigerian economy (oil) is majorly sourced and moved through the waterways, while the largest chunk of our import and export of other goods are carried out through the seas, it was imperative that the Nigerian Navy is sufficiently equipped and routinely trained to curb the excesses of pirates, oil bunkerers and other illegal activities on our waterways that hamper our economic development. Noting the importance of the Bill, all contributors to the debate lend their voices to the establishment of the fund and urge the House to pass the Bill into law without any delay. The bill was first read on 15th March 2021 and seeks to exist for 8 years from the commencement date of the Act, (when finally passed by the National Assembly and assented to by the President), unless it is further extended by an Act of the National Assembly. Get real time updates directly on you device, subscribe now. Subscribe

Xsolla to Partner with IMVU’s VCOIN to Expand Usability and Support the Metaverse for All Gamers and Creators

REDWOOD CITY, CA, April 22, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire) –– VCOIN, the first transferable digital currency designed for the metaverse and Xsolla, the video game commerce company that helps developers and publishers market, sell, connect and optimize their games globally, today announced a partnership that will support the metaverse for all gamers and […]
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Fitness

Amazon and Nestle join public-private plan to save world's forests

LONDON (Reuters) - The United States, Norway and Britain joined forces with companies including Amazon (NASDAQ:AMZN) and Nestle on Thursday to launch a project...

FAA says Boeing still working on 737 MAX electrical system fix

Boeing disclosed an electrical power system issue on April 7 and recommended operators temporarily remove these airplanes from service. The FAA said Thursday "subsequent...

US commits to cutting greenhouse gas emissions in half by 2030

The United States has committed to cutting its emissions at least in half from 2005 levels by 2030, a move that could require replacing virtually all petrol-powered cars and trucks with cleaner electric vehicles charged largely by low-carbon power sources such as sun, wind, or nuclear plants. “The signs are unmistakable, the science is undeniable… Don’t miss another story Become a BusinessDay Subscriber today. For insights, facts, figures, and access to opportunities.Options starting from N1000 Monthly Subscribe Now Already a subsriber? Login Get real time updates directly on you device, subscribe now. Subscribe

U.S. Supreme Court curbs FTC's power to recoup ill-gotten gains

WASHINGTON (Reuters) -The U.S. Supreme Court on Thursday made it more difficult for the Federal Trade Commission to force scam artists and companies that...

Vaccines put U.S. airlines on runway to recovery

(Reuters) - U.S. carriers American Airlines (NASDAQ:AAL) and Southwest Airlines (NYSE:LUV) on Thursday signaled a slower cash burn and pointed to a rebound in...

Gaming

Amazon and Nestle join public-private plan to save world's forests

LONDON (Reuters) - The United States, Norway and Britain joined forces with companies including Amazon (NASDAQ:AMZN) and Nestle on Thursday to launch a project...

Latest Articles

Amazon and Nestle join public-private plan to save world's forests

LONDON (Reuters) - The United States, Norway and Britain joined forces with companies including Amazon (NASDAQ:AMZN) and Nestle on Thursday to launch a project...

FAA says Boeing still working on 737 MAX electrical system fix

Boeing disclosed an electrical power system issue on April 7 and recommended operators temporarily remove these airplanes from service. The FAA said Thursday "subsequent...

US commits to cutting greenhouse gas emissions in half by 2030

The United States has committed to cutting its emissions at least in half from 2005 levels by 2030, a move that could require replacing virtually all petrol-powered cars and trucks with cleaner electric vehicles charged largely by low-carbon power sources such as sun, wind, or nuclear plants. “The signs are unmistakable, the science is undeniable… Don’t miss another story Become a BusinessDay Subscriber today. For insights, facts, figures, and access to opportunities.Options starting from N1000 Monthly Subscribe Now Already a subsriber? Login Get real time updates directly on you device, subscribe now. Subscribe

U.S. Supreme Court curbs FTC's power to recoup ill-gotten gains

WASHINGTON (Reuters) -The U.S. Supreme Court on Thursday made it more difficult for the Federal Trade Commission to force scam artists and companies that...

Vaccines put U.S. airlines on runway to recovery

(Reuters) - U.S. carriers American Airlines (NASDAQ:AAL) and Southwest Airlines (NYSE:LUV) on Thursday signaled a slower cash burn and pointed to a rebound in...

Choosing the Right Digital Strategy

The Focus of BusinessDay / NetPlusDotComs’ April Edition of Monthly Digital Webinar Series for SMEs April marks the 4th month in the year-long digital transformation webinar series by BusinessDay and NetPlusDotCom. Themed “Choosing the right strategy for your business’, the webinar promises to guide attendees through redefining their business goals, creating a balance between satisfying their customers, ensuring profitability, and dealing with the competition. Speaking at this event are, Eyitayo Ogunmola, the founder of Utiva; Chibuike Goodnews, CEO of Dochase Adx Limited; Olusegun Adeniyi, Chief Digital Officer of Wema Bank and Nike Agbakosi, Consulting Lead at Jobberman. An elite group with years of real time experience to ensure the audience leaves the e-event confidently equipped with a direction to accomplishing their goals. Read Also: Linkage Assurance Plc Unveils New Brand Identity to Strengthen its Objective “The success of a business is largely dependent on clearly defining the direction of the company’s goals and mission, choosing the right strategy provides every individual involved with a guide and a vision path to accomplishing great strides in their respective industries. This April, we have selecting these experts to help enlighten and equip our audience with this knowledge breakdown” Wole Faroun, CEO of NetPlusDotCom. This month’s edition will hold on Thursday April 29, 2021 from 10:00am – 11:30am. To register for this event, please visit https://bit.ly/32woms0 Get real time updates directly on you device, subscribe now. Subscribe

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