|Bid||40.31 x 1400|
|Ask||40.32 x 4000|
|Day's range||40.14 - 40.55|
|52-week range||26.01 - 40.55|
|Beta (3Y monthly)||1.42|
|PE ratio (TTM)||14.70|
|Earnings date||16 Jul 2019 - 22 Jul 2019|
|Forward dividend & yield||0.56 (1.45%)|
|1y target est||39.99|
Tech giant Facebook consulted the Federal Reserve ahead of the launch of its cryptocurrency Libra, according to Fed Chairman Jerome Powell.
SAN FRANCISCO/NEW YORK, June 18 (Reuters) - Facebook Inc announced ambitious plans on Tuesday to launch a new global cryptocurrency called Libra, part of an effort to expand into digital payments that immediately raised privacy concerns. The social networking giant has linked with 28 partners including Mastercard, PayPal and Uber to form Libra Association, a Geneva-based entity governing the new digital coin, according to marketing materials and interviews with executives.
(Bloomberg Opinion) -- Regulators will be watching closely when Facebook Inc. unveils its cryptocurrency project this week. Their vigilance is warranted.Mark Zuckerberg, the social network’s founder, isn’t going to gamble with what remains of his public image by replicating the worst excesses of the Bitcoin craze. He’s not trying to create a speculative currency; a potential wave of mom-and-pop investment losses is the last thing he needs. He just wants a digital medium of exchange for use on his apps. Nevertheless, his bid to launch an online payments revolution carries plenty of risks, from antitrust concerns to the threat that it might pose to financial stability.Weekend media leaks suggest that Facebook’s “Libra” project will be a continuation of its past efforts to expand its payments business and keep customers within the walled garden of its social media apps by creating their very own money.While Zuckerberg is poised to unveil a team of partners – reportedly including eBay Inc., Farfetch Ltd., Spotify Technology SA, Uber Technologies Inc. and Vodafone Group Plc – so far this feels very much like Facebook’s baby. Tellingly, it’s not one that the big banks or the other Silicon Valley and Seattle giants seem ready to adopt quite yet, unless Zuckerberg surprises us with some bigger names at the launch. The target customer base for these new digital tokens looks certain to be the 2.6 billion-strong users of Facebook, WhatsApp and Instagram.While Facebook will no doubt assure us that this project is all about making the lives of its customers ever easier, giving them the ability to actually buy stuff in a way that Bitcoin has rarely offered, it’s hard to square it away with the political effort to curb Big Tech’s monopolistic tendencies (regardless of that roster of launch partners and their $10 million participation fees). It’s crucial that Libra doesn’t become a protective glue that binds Zuckerberg’s social networks even more closely together at a time when many regulators want to break them up. Libra will be presented as an open-source partnership whose benefits are available to all, but to what extent will it really be held at arm’s length from the Zuckerberg empire? Indeed, if the financial and business benefits of using Libra accrue mainly to Facebook, it will merely enshrine its market dominance.As such, regulators must find out who will own the giant new datasets. They might even want to push the case that this kind of data should be made available to governments or rivals to avoid the problems of the past, where a handful of companies ended up owning all of the information about our online activities.While Facebook barely makes any money from its payments business today – with payments and other fees accounting for less than 2% of last year’s $55.8 billion of revenue – some analysts reckon Libra could change things. Barclays is reportedly predicting $19 billion in additional revenue by 2021 if the tokens gain traction. Libra is scheduled to launch across a dozen countries in 2020. That’s a lot of potential data and new sources of revenue.Financial stability is a worry too and regulators should ask for transparency on how Libra is structured. The token is expected to be a “stablecoin,” which is pegged to existing fiat currencies such as the U.S. dollar or the euro. That will damp price volatility, unlike the free-wheeling Bitcoin, whose price in the past five years has gone from $600 to $19,000, and now to $9,000. Regulatory oversight of which currencies are held in reserve to back the Libra coin would go some way to building faith in Facebook’s capacity to redeem tokens when customers ask for it.While no one wants to choke innovation unnecessarily, Facebook hasn’t exactly done much to earn everybody’s trust in recent years. Any chance to put the necessary controls in at the beginning, rather than firefighting down the road, should be grabbed by the regulators.To contact the author of this story: Lionel Laurent at firstname.lastname@example.orgTo contact the editor responsible for this story: James Boxell at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Lionel Laurent is a Bloomberg Opinion columnist covering Brussels. He previously worked at Reuters and Forbes.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Amazon delivers paper towels, Google provides search results, and Uber, but these forward-facing services sew a complete misunderstanding of the companies, according to a Silicon Valley CEO.
Lawmakers and regulators have signaled newfound willingness to bring antitrust action. One Silicon Valley chief executive said that doesn’t bode well for CEOs called to Capitol Hill, saying in that position “you can’t win no matter what you do.”
Yahoo Finance Editor-in-Chief Andy Serwer sits down with John Donahoe, president and CEO of ServiceNow, and former president and CEO of eBay.
Hammond was due to take his case for a global digital tax - which would make it harder for online firms to minimise their tax bills - to a meeting of G20 finance ministers and central bankers in Japan on Saturday and Sunday. Last year, Hammond said he wanted a global tax but Britain was ready to move on its own by taxing profitable companies at 2 percent on the money they make from UK users from April 2020, raising more than 400 million pounds ($512 million) a year.
AI has the key technology for advancing Amazon's agenda across virtually all fronts, evidenced by the company's re: Mars conference this week.
Justin Sun, the 28-year-old founder of blockchain platform TRON, paid $4.6 million for this year's Warren Buffett charity lunch.
eBay and Shopify Aren’t Shy to Confront Amazon and Alibaba(Continued from Prior Part)eBay is undertaking a strategic review of its classifieds businessGerman online classifieds company Scout24 is interested in buying parts of eBay’s (EBAY)
eBay and Shopify Aren’t Shy to Confront Amazon and Alibaba(Continued from Prior Part)This shift to could send more Amazon sellers to ShopifyAmazon (AMZN) is planning a major shift in its strategy now that it procures the merchandise it sells
eBay and Shopify Aren’t Shy to Confront Amazon and Alibaba(Continued from Prior Part)Online B2B sales in the United States reach $1.8 trillionShopify (SHOP) has acquired Handshake, a New York–based startup that provides e-commerce solutions
eBay and Shopify Aren’t Shy to Confront Amazon and AlibabaeBay says it doesn’t compete with its sellersIn the competition for marketplace sellers, eBay (EBAY) believes it has a unique advantage over competitors such as Amazon (AMZN). In a recent
Enter KKR & Co. Bloomberg News reported on Thursday that the U.S. private equity firm is considering taking the German media giant private alongside its founding family. It looks to be a sensible way for Doepfner to achieve his lofty goals – if minority shareholders can be persuaded any offer is attractive enough. Doepfner is trying to transform the German publisher into a digital powerhouse focused on online brands and classifieds, where it already generates more profit than it does from Bild-Zeitung, Europe’s best-selling newspaper.
Amazon.com Inc. has this heft, too. To understand the impact, it’s important to understand that Amazon is half Walmart and half eBay. Most shoppers don’t notice the difference, but when someone buys a dog bed on Amazon.com, she might be purchasing the bed directly from Amazon or from a company that set up a digital storefront there.