Facebook’s Fast-Growing Revenues, And Costs

EVERYTHING YOU NEED TO KNOW, RIGHT NOW. #IBTPulse Facebook's Fast-Growing Revenues, And Costs Facebook will probably trumpet the 4 billion video views it gets every day -- more than the Super Bowl, it says -- and the revenue that comes with it when the company releases earnings Wednesday. But it is also spending aggressively -- an 82 percent pop in the second quarter -- while acquisitions like WhatsApp and Oculus have yet to start paying off. Janet Yellen To Testify Before Congress, But Not To Talk About Monetary Policy In a first-of-its-kind hearing, Fed Chairwoman Janet Yellen will be in Congress Wednesday, pinch-hitting for a vice chairman who's not been appointed. Yellen, who is expected to address questions about the Fed's oversight of the nation's banks and its financial sector, is unlikely to talk about the prospects of a December rate hike, which was indicated after the Fed's last meeting. China, Taiwan Leaders To Hold First Meeting 70 Years After Civil War Xi Jinping and Ma Ying-jeou will meet in Singapore, but will call each other "Mr. Xi" and "Mr. Ma" because neither formally recognizes the other's presidential status, and won't sign any agreements. But the historic meeting comes amid deepening economic ties, and may have an impact on the upcoming presidential elections in Taiwan. Landmark Libor Case Nears Decision A Manhattan jury deliberated on a case involving two British bankers, who are being tried by the U.S. Department of Justice for their alleged role in rigging the Libor benchmark between 2005 and 2011. The case is a closely watched one as it could set a precedent for the prosecution of other Libor-rigging schemes that have cost several global banks billions of dollars in regulatory settlements. HERE'S WHAT YOU MISSED LAST NIGHT. Volkswagen's New 'Irregularity' German carmaker Volkswagen said it misstated carbon dioxide and fuel consumption data on as many as 800,000 vehicles and said it could cost $2.2 billion to fix. It said it discovered this problem while investigating last month's revelation, which involved installing devices to cheat on emissions tests and triggered worldwide probes on the company's actions and could potentially cost the carmaker billions of dollars to address. Japan Post Companies' Stocks Climb After Record-Breaking IPO The record-breaking $12 billion, three-in-one IPO of the Japan Post companies debuted on the Tokyo Stock Exchange Wednesday, climbing as Japanese investors snapped up one of the best known brands in the country. The three-company IPO was the world's biggest this year, and Japan's biggest in two decades, and the companies' stocks rose between 15 percent and 56 percent on their first trading day. Hyundai Joins Luxury-Car Race The South Korean carmaker has launched a new luxury brand -- Genesis -- and hired an Audi and Bentley executive to help run it. So far, Hyundai was said to be the only major car company without a high-end line that could boost falling profits. Jon Stewart Is Back, On The Internet Just months after ending his 16-year run on The Daily Show, Jon Stewart has signed a 4-year deal with HBO. It's not for the cable channel though, but short digital content for HBO Now, which you can get on your smartphone and other Internet-connected screens. 7 Hanover Square, 5th Floor, New York, NY 10004 © 2015 IBT Media Inc. All Rights Reserved. Please add ibtimes@ibtimes.tm00.com to your contacts Unsubscribe | Privacy Policy