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(Reuters) - After 18 months of distraction defending itself over privacy and its role as a platform for electoral manipulation, Facebook Inc is focusing squarely on products after its strong fourth-quarter results won back investors, who sent its shares up nearly 12 percent on Thursday. The social network has been spending heavily to boost user privacy on its platform following pressure from regulators and users around the world. But it reported better-than-expected profit and revenue on Wednesday, attributing the gains to higher ad sales and product improvements.
“We’ve put most of our energy into security over the past 18 ferragamo cufflinks bloomingdales months, so that building new experiences wasn’t the priority over that period,” Mark Zuckerberg, the 34-year old billionaire and chief executive officer of Facebook, told analysts on a post-earnings call, “So this year, I think we’re going to deliver several of these new experiences,” Zuckerberg said, Shares of the social media network rose nearly 12 percent to $168 in trading before the bell on Thursday, with at least 17 analysts raising their price targets on the stock..
Analysts said Facebook is taking cue from the early success of its popular Stories feature and will invest significantly in getting more advertisers on board to the format, which has further upside in terms of pricing. The Stories format is used by about 2 million advertisers out of Facebook’s total 7 million active advertisers, and the company said it would add more features to make it easier for advertisers to adapt their campaigns. Facebook has intentionally kept ad unit pricing for Stories 20 percent to 50 percent lower than News Feed as it works to improve performance and could bring a double-barreled benefit to ad revenue growth if it can improve ad efficacy, Morgan Stanley analysts said.
SEOUL (Reuters) - A South Korean city council on Wednesday green lit a revised plan for a low-wage automaking joint venture with Hyundai Motor, setting the stage for the construction of the ferragamo cufflinks bloomingdales car maker’s first factory at home in more than two decades, The proposed plant in the southwestern city of Gwangju is in line with Seoul’s policy to spur job creation, but comes as Hyundai is grappling with excess capacity globally amid sluggish domestic demand, falling U.S, exports and weak China sales..
With unemployment rates hitting a 17-year peak in 2018, South Korean President Moon Jae-in has called on the country’s biggest automaker to build a local factory. The liberal government counts Gwangju as its political stronghold. The city council said it aims to sign the deal with Hyundai on Thursday after final negotiations and, according to a city official, Moon is expected to attend the signing ceremony. A preliminary deal for the JV had been reached early last month. It included an annual wage of 35 million won ($31,341.51) for JV employees, or less than half the average 92 million won that the automaker’s unionized workers earn.
But the plan was scuttled as labor representatives in the city council called for a revision to terms that allow the JV to skip annual wage negotiations with its workers, Hyundai had spurned the proposal, The council has now agreed on a compromised plan regarding collective wage ferragamo cufflinks bloomingdales bargaining, the city official said, without elaborating because of the confidentiality of the matter, Hyundai’s labor union released a statement, saying it will “fight strongly” against the company and the government, The union worries the JV would put downward pressure on wages, and eventually take away production and jobs..
A Hyundai spokeswoman did not have immediate comments. At the proposed JV, Hyundai is looking to build mini-SUVs starting 2021, with an annual capacity of 100,000 vehicles. Since its factory in the central city of Asan in 1996, Hyundai has not built new production facilities in South Korea - home to high-wage, strike-prone workers. It has instead focused on setting up overseas production units, such as in the world’s largest auto market China, in search of cheaper labor and to be closer to consumers.
PARIS (Reuters) - Carlos Ghosn remains in very difficult conditions in his Japanese prison cell, Ghosn’s French-based lawyer Jean-Yves Leborgne told French radio station RTL on Thursday, “The conditions are extremely difficult,” said Leborgne, Leborgne added he hoped to be able to see Ghosn soon, and that as far as he was aware, Ghosn had ferragamo cufflinks bloomingdales not been able to meet any family members, He also expressed hopes Ghosn may still be able to be released on bail, Ghosn has been held in custody in Japan since last November, after being arrested on charges of financial misconduct, which he denies..