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But its ultra low-cost business model could make it vulnerable to crime. “,”descriptionText”:”Dollar General is one of the fastest growing discount chains in the country. But its ultra low-cost business model could make it vulnerable to crime. “},{“title”:”How private equity is gutting retail”,”duration”:”03:01″,”sourceName”:”CNN”,”sourceLink”:”cnn.com/business”,”videoCMSUrl”:”/video/data/3.0/video/business/2020/06/18/lev-buy-js-orig.cnn/index.xml”,”videoId”:”business/2020/06/18/lev-buy-js-orig.cnn”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200618141521-leveraged-buyouts-large-169.jpg”,”videoUrl”:”/videos/business/2020/06/18/lev-buy-js-orig.cnn/video/playlists/business-retail/”,”description”:”In the bankruptcies of J. Crew, Neiman Marcus, and many others — it wasn’t just bad business practices and the rise of e-commerce that did them in. CNN Business’ Jon Sarlin explains the perils of leveraged buyouts.”,”descriptionText”:”In the bankruptcies of J. Crew, Neiman Marcus, and many others — it wasn’t just bad business practices and the rise of e-commerce that did them in. CNN Business’ Jon Sarlin explains the perils of leveraged buyouts.”},{“title”:”All retail bankruptcies are not the same. Here’s what you need to know”,”duration”:”01:55″,”sourceName”:”CNN”,”sourceLink”:”cnn.com/business”,”videoCMSUrl”:”/video/data/3.0/video/business/2020/06/01/retail-bankruptcies-explained-orig.cnn/index.xml”,”videoId”:”business/2020/06/01/retail-bankruptcies-explained-orig.cnn”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200601175950-retail-bankruptcy-large-169.jpg”,”videoUrl”:”/videos/business/2020/06/01/retail-bankruptcies-explained-orig.cnn/video/playlists/business-retail/”,”description”:”CNN’s Jon Sarlin explains the difference between reorganization and liquidation when it comes to bankruptcy filings.”,”descriptionText”:”CNN’s Jon Sarlin explains the difference between reorganization and liquidation when it comes to bankruptcy filings.”},{“title”:”Is T.J.Maxx recession-proof?”,”duration”:”02:44″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/05/29/tjmaxx-recession-covid-orig.cnn-business/index.xml”,”videoId”:”business/2020/05/29/tjmaxx-recession-covid-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200528201251-tjmaxx-covid-recession-large-169.jpg”,”videoUrl”:”/videos/business/2020/05/29/tjmaxx-recession-covid-orig.cnn-business/video/playlists/business-retail/”,”description”:”T.J.Maxx’s business model is built on shoppers treasure hunting for bargains. Here’s why the brand could be a rare retail winner after the pandemic.”,”descriptionText”:”T.J.Maxx’s business model is built on shoppers treasure hunting for bargains. Here’s why the brand could be a rare retail winner after the pandemic.”},{“title”:”McDonald’s lays out reopening plan”,”duration”:”01:07″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/05/15/mcdonalds-reopening-instructions.cnn-business/index.xml”,”videoId”:”business/2020/05/15/mcdonalds-reopening-instructions.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200514154209-02-mcdonalds-social-distancing-large-169.jpg”,”videoUrl”:”/videos/business/2020/05/15/mcdonalds-reopening-instructions.cnn-business/video/playlists/business-retail/”,”description”:”McDonald’s sent franchise operators in the United States a detailed instruction manual outlining requirements for reopening dining rooms.”,”descriptionText”:”McDonald’s sent franchise operators in the United States a detailed instruction manual outlining requirements for reopening dining rooms.”},{“title”:”J.Crew files for bankruptcy protection”,”duration”:”02:42″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/05/04/j-crew-bankruptcy-retail-coronavirus.cnn-business/index.xml”,”videoId”:”business/2020/05/04/j-crew-bankruptcy-retail-coronavirus.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200504090128-jcrew-store-0501-large-169.jpg”,”videoUrl”:”/videos/business/2020/05/04/j-crew-bankruptcy-retail-coronavirus.cnn-business/video/playlists/business-retail/”,”description”:”The clothing retailer expects to stay in business during its debt restructuring. CNN’s Clare Sebastian reports. “,”descriptionText”:”The clothing retailer expects to stay in business during its debt restructuring. CNN’s Clare Sebastian reports. “},{“title”:”Here’s the story of the rise and fall of JCPenney”,”duration”:”01:48″,”sourceName”:”CNN”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/04/10/jcpenney-history-origin-story-orig.cnn/index.xml”,”videoId”:”business/2020/04/10/jcpenney-history-origin-story-orig.cnn”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200413105346-jcpenney-animation-large-169.jpg”,”videoUrl”:”/videos/business/2020/04/10/jcpenney-history-origin-story-orig.cnn/video/playlists/business-retail/”,”description”:”JCPenney started as a Wyoming dry goods store called The Golden Rule back in 1902. Now, it has filed for bankruptcy protection. Here’s how the retailer that once dominated malls fell out of favor. “,”descriptionText”:”JCPenney started as a Wyoming dry goods store called The Golden Rule back in 1902. Now, it has filed for bankruptcy protection. Here’s how the retailer that once dominated malls fell out of favor. “},{“title”:”Why Bed Bath & Beyond is in big trouble”,”duration”:”00:58″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/03/06/bed-bath–beyond-trouble-orig.cnn-business/index.xml”,”videoId”:”business/2020/03/06/bed-bath–beyond-trouble-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/190326092930-01-bed-bath-and-beyond-file-large-169.jpg”,”videoUrl”:”/videos/business/2020/03/06/bed-bath–beyond-trouble-orig.cnn-business/video/playlists/business-retail/”,”description”:”Bed Bath & Beyond is in dire straits: sales have tumbled and it has failed to keep up with other retailers online. But can it turn things around?”,”descriptionText”:”Bed Bath & Beyond is in dire straits: sales have tumbled and it has failed to keep up with other retailers online. But can it turn things around?”},{“title”:”Kohl’s needs to reinvent itself. Are Aldi and Amazon the key?”,”duration”:”01:25″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2019/07/23/kohls-aldi-amazon-planet-fitness.cnn-business/index.xml”,”videoId”:”business/2019/07/23/kohls-aldi-amazon-planet-fitness.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/190305111443-02-kohls-storefront-file-large-169.jpg”,”videoUrl”:”/videos/business/2019/07/23/kohls-aldi-amazon-planet-fitness.cnn-business/video/playlists/business-retail/”,”description”:”Kohl’s is looking to fend off retail troubles with unlikely partnerships and online-oriented strategies. Will it be enough?”,”descriptionText”:”Kohl’s is looking to fend off retail troubles with unlikely partnerships and online-oriented strategies. Will it be enough?”},{“title”:”These are the unexpected winners of the grocery wars”,”duration”:”01:48″,”sourceName”:”CNN Business”,”sourceLink”:”http://www.cnn.com/business”,”videoCMSUrl”:”/video/data/3.0/video/business/2019/05/16/grocery-wars-aldi-walmart-orig.cnn-business/index.xml”,”videoId”:”business/2019/05/16/grocery-wars-aldi-walmart-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/180912110827-grocery-store-produce-file-large-169.jpg”,”videoUrl”:”/videos/business/2019/05/16/grocery-wars-aldi-walmart-orig.cnn-business/video/playlists/business-retail/”,”description”:”Today, big box stores and foreign discount chains are beating out more traditional supermarkets. Here’s how they’re attracting customers like never before.”,”descriptionText”:”Today, big box stores and foreign discount chains are beating out more traditional supermarkets. Here’s how they’re attracting customers like never before.”}],’js-video_headline-featured-rreqjq’,”,”js-video_source-featured-rreqjq”,true,true,’business-retail’);if (typeof configObj.context !== ‘string’ || configObj.context.length
Southern Baptist Pastor Resigns following Participation in Celebration of KKK Leader
A Republican state representative from Alabama has resigned from his position as a pastor on Thursday after attending the 199th birthday celebration of Confederate general and first KKK Grand Wizard, Nathan Bradford Forrest.
Will Dismukes, 30, had attended the annual birthday celebration of the controversial leader on Saturday. The event was held on the same day tributes were being given in remembrance of the late civil rights leader, John Lewis.
According to the Montgomery Advertiser, Dismukes went public with the celebration in a now-deleted Facebook post.
“Had a great time at Fort Dixie speaking and giving the invocation for Nathan Bedford Forrest annual birthday celebration. Always a great time and sure enough good eating!” Dismukes wrote on Sunday.
Accompanying Dismukes written post was a photo where he stood behind a podium amongst several Confederate flags.
Following the weekend, Dismukes was met with calls for his resignation as a pastor by local church leaders, Baptist Press reports. Dismukes had served as the pastor of Pleasant Hill Baptist Church in Prattsville since last February.
“We are saddened and grieved to learn of the recent Facebook post by state Rep. Will Dismukes,” said Rick Lance, the executive director of the Alabama Baptist State Board of Missions. “… In the wake of tremendous controversy, we reaffirm our opposition to any kind of racism.”
Lance’s…
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Over 100 Virtual Choirs Cover Elevation Worship’s ‘The Blessing’
A worldwide phenomenon has hit the Church today as Christians from across the globe are singing the hit worship song, “The Blessing.”
In March, the song was first introduced during a live performance at an Elevation Church campus in North Carolina as part of Elevation Worship’s latest album, Graves Into Gardens.
Featured in the video is Elevation Worship, alongside worship leaders Cody Carnes and Kari Jobe.
The lyrics in “The Blessing” are based off of the famous benediction in Numbers 6:24-26, where God told Moses to tell Aaron to pray over God’s people. The passage reads:
The Lord bless you
and keep you;
the Lord make his face shine on you
and be gracious to you;
the Lord turn his face toward you
and give you peace
Prior to the song’s performance, Jobe told the congregation that the song lyrics illustrate “the heart of the Father over us as his kids” and invited them to receive the song as “a blessing over you and your family and your children.”
Five months later, “The Blessing” has become a worldwide hit and more than 100 virtual choirs have covered it, Christianity Today reports.
Renditions of the song have been created in Australia, Burma, Chile, Canada, France, Ghana, India, Indonesia, Ireland, Italy, Lebanon, Madagascar, Malaysia, Mexico, the Netherlands, Nigeria, Romania, Spain, Singapore, South Africa, South Korea, Sweden, Vietnam and Zimbabwe.
The song has also been…
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Click here to read the rest of the story from our content source/partners – Christian Headlines.
Customers expected to protest outside Eversource headquarters Friday – WFSB
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US pledges $2.1 billion to Glaxo, Sanofi for coronavirus vaccine | TheHill – The Hill
The U.S. government will pay $2.1 billion to the drugmakers Glaxo and Sanofi for the production of COVID-19 vaccines for up to 50 million people, tests and treatments, the companies announced Friday.
It’s the largest grant that’s been given under the Trump administration’s “Operation Warp Speed,” the White House initiative focused on producing an accessible coronavirus vaccine by the end of the year.
The deal covers 100 million vaccines, at two per person, at a cost of about $42 per person. The deal allows the U.S. to order 500 million more doses from the two companies at an unspecified price.
According to Glaxo, more than half of the $2.1 billion from the government will support further development of the vaccine, including clinical trials.
The U.S. attempts to obtain or fast track a vaccine has caused some concern globally about distribution.
In May, French officials said it would be “unacceptable” for Americans to get first dibs on a coronavirus vaccine developed by Sanofi, a French company, after CEO Paul Hudson said that the drug company would likely provide its vaccine to the U.S. first because it was the first to provide funding for the research.
Last week Pfizer and BioNTech, a German biotech company, announced that the U.S. had reached a $1.95 billion deal with them for an initial order of 100 million doses of their coronavirus vaccine, which is now on Phase 3 of its trial.
HHS Secretary Alex Azar said in a statement announcing the Glaxo-Sanofi deal that supporting the creation of more than one vaccine “increases the odds that we will have at least one safe, effective vaccine as soon as the end of this year.”
Updated at 8:30 a.m.
AbbVie shares rises on strong Q2, though cosmetic Botox sales tumbled 43% – MarketWatch
Shares of AbbVie Inc.
ABBV,
-1.65%
were up 1.9% in premarket trading on Thursday after the drugmaker beat expectations for the quarter. The company had a loss of $739 million, or 46 cents per share, in the second quarter of 2020. It had reported a gain of $807 million, or 49 cents a share, in the same quarter in 2019. Adjusted earnings per share were $2.34, ahead of the FactSet consensus of $2.20. Sales increased to $10.4 billion in the quarter compared with $8.2 billion in the period a year ago. The FactSet consensus for revenue for the quarter was $9.9 billion. The increase in sales was driven in part by strong performance from its immunology business, which includes its top-selling drug, Humira. The immunology business saw revenue rise by 8.1% to $5.1 billion over the last three months. AbbVie in early May closed its acquisition of Allergan; it also said that sales of the cosmetic filler Botox, a longtime Allergan brand, tumbled 43.1% to $226 million as a result of the COVID-19 pandemic. It issued EPS guidance, including Allergan, for 2020 of $4.12 to $4.22. AbbVie’s stock has gained 8.4% since the start of the year, while the S&P 500
SPX,
+0.07%
is up 0.5%.
Tech competitors are blown away by Congress CEO grilling and hopeful for antitrust reform – CNBC
Amazon CEO Jeff Bezos speaks via video conference during a hearing of the House Judiciary Subcommittee on Antitrust, Commercial and Administrative Law on “Online Platforms and Market Power”, in the Rayburn House office Building on Capitol Hill, in Washington, U.S., July 29, 2020.
Graeme Jennings | Pool via REUTERS
David Heinemeier Hansson said he was “smiling broadly” by the end of Congress’ grilling of the four Big Tech CEOs this week.
“I was frankly blown away,” said Heinemeier Hansson, co-founder of Basecamp, a central figure in a noisy dispute with Apple over its App Store rules.
For Heinemeier Hansson, who previously testified before the congressional subcommittee about Big Tech’s impact on start-ups, Wednesday’s hearing exceeded his “lukewarm expectations” in part by simply being mostly unembarrassing. He recalled past hearings where Facebook CEO Mark Zuckerberg was the lone focal point and it seemed lawmakers were unprepared with the basic facts to confront him.
But at Wednesday’s hearing featuring Amazon CEO Jeff Bezos, Apple CEO Tim Cook, Facebook’s Zuckerberg and Sundar Pichai, CEO of Google parent company Alphabet, many lawmakers focused their questions on the 1.3 million pieces of evidence the House Judiciary subcommittee on antitrust has collected in the past year of its probe. That rendered the rehearsed testimony from the CEOs less important, according to Heinemeier Hansson, allowing the evidence to speak for itself.
Heinemeier Hansson’s optimism was shared by other tech rivals who have aired their grievances with the subcommittee as well as enforcers around the world. Google’s most consistent opponent, Yelp‘s Luther Lowe, said the hearing was a “seismic” event.
Lowe, SVP of public policy, has been steeped in the debate over Google’s competition practices for nearly a decade. He has seen numerous regulators consider Yelp’s complaints that Google has acted unjustly toward vertical search competitors by ripping off their content or using tactics that discourage users from clicking away from their results and onto other sites. Google, in its 2013 settlement with the Federal Trade Commission that ended an antitrust investigation, agreed not to scrape websites like Yelp for content. Google has maintained that its practices are not anti-competitive.
Google CEO Sundar Pichai testifies before the House Judiciary Subcommittee on Antitrust, Commercial and Administrative Law during a hearing on “Online Platforms and Market Power” in the Rayburn House office Building on Capitol Hill, in Washington, July 29, 2020.
Mandel Ngan | Pool via Reuters
After Google’s then-CEO Eric Schmidt testified to the Senate in 2011 about the company’s search practices, Lowe recalled feeling underwhelmed with the scrutiny on Google. But this time, he said, there was a more informed focus on the antitrust issues at play.
“What [Congress] do[es] is they send signals,” Lowe said in an interview Thursday. “If the signal in … 2011 was, ‘Hey, FTC investigating Google, why are you messing with this great company,’ the message yesterday was, ‘Why didn’t you go after these companies [earlier]?'”
Eddie Lazarus, chief legal officer at Sonos, was slightly more subdued in his optimism. Sonos is suing Google, alleging patent infringement, and has claimed Google and Amazon artificially lower prices on their smart speakers to edge out competing products like those of Sonos. CEO Patrick Spence testified at a subcommittee field hearing earlier this year about the company’s competitive practices, as did Heinemeier Hansson and the executives from Tile and PopSocket.
“I felt like the committee hearing was a bit like a strobe light where it would flash on and you’d see something really interesting and then it would flash off and it would kind of move to another [topic],” Lazarus said. “But when you put it all together, you got the picture that something was fundamentally wrong here.”
Watching the hearing gave the sense of whiplash, alternating between four CEOs and topics ranging as far as acquisition strategy to censorship. At times, the bipartisan effort of the probe seemed to show cracks, including when Rep. Jamie Raskin, D-Md., lashed out at Republicans for “whining” about conservative bias, pointing to a list of conservative commentators whose work has proliferated across social media platforms.
Congressman Jim Jordan, (R-OH), speaks during a hearing of the House Judiciary Subcommittee on Antitrust, Commercial and Administrative Law on “Online Platforms and Market Power”, in the Rayburn House office Building on Capitol Hill, in Washington, July 29, 2020.
Graeme Jennings | Pool via Reuters
While questions of censorship and privacy were not directly related to antitrust, they often indicated broader concerns about the power of the platforms over many aspects of their respective markets and American consumers’ lives. That consensus might become the building block of bipartisan legislation.
Rep. Kelly Armstrong, R-N.D., said he chose to focus a round of questioning on Google’s advertising business because he felt it illustrated a central driving factor of a variety of concerns with the digital platforms.
“Regardless if you think they’re censoring conservatives or you think they’re squeezing out competitors or whichever part of the criticism [you think it] is, I think it all comes down to the same thing and it’s money,” Armstrong said. “Usually if you alienate a significant portion of your user base, that harms you economically. And that just isn’t the case for these companies.”
Armstrong argued that companies like Google hide behind claims of privacy, like its decision to remove support for third-party tracking cookies from its web browser, when their tactics are really about suppressing competition.
Rep. Joe Neguse, D-Colo., vice chair of the subcommittee, said many issues important to members can be viewed through the frame of a larger problem with the concentration of power in the tech sector. He gave the example of disinformation, which he said is a type of “collateral” issue that he is concerned about.
“That type of activity is a byproduct of, in my view, monopoly power — the inability of competitors to be able to emerge, which would then compel these entities and platforms like Facebook to take a more serious and urgent approach,” Neguse said.
Rep. Ken Buck, R-Colo., said that optimism for bipartisan action comes in part from the fact that the subcommittee lawmakers have gained trust with one another.
“There are personal relationships being built behind the scenes,” he said. “I think that people are working with each other and starting to trust each other more. Impeachment was a difficult point in this particular Congress because people stopped talking to each other for a little while, and I think we’re coming out of that now and focusing again on legislative work that needs to be done.”
Testimony by Heinemeier Hansson, Sonos’ Spence and others earlier this year seemed to play an important role in solidifying some members’ views. Buck said in an earlier interview that the hearing helped him “put a face on the stories” about the tech giants’ tactics.
“Many of the committee members, both Republican and Democrat, would concede that that hearing was the second most important hearing that this committee has held” in connection to the probe, Neguse said.
Still, the outspoken tech competitors haven’t pinned their hopes entirely on the committee’s forthcoming report and legislation. But they are optimistic Wednesday’s hearing sent a message to the antitrust enforcers currently reviewing the four giants.
“Those reports probably don’t amount to anything at all if they stand alone,” Heinemeier Hansson said. “But they do not stand alone.”
The trove of internal documents released by the committee following the hearing are likely just a fraction of the evidence the FTC and Department of Justice’s Antitrust Division have collected in their respective probes. And as they consider whether an enforcement case is warranted against each company, they now have a signal of support from Congress.
“I think a very clear message was sent to the FTC and the Antitrust Division yesterday that insofar as members of the committee are representing different constituencies in America, those different constituencies are very concerned about the power that is being held by a few people in this country,” Buck said. “I think that they got that message loud and clear.”
Maxing Out Your 401(k) Could Lead to More Taxes on Social Security. Do This Instead – Motley Fool
A 401(k) plan is a great tool to save for retirement if your employer offers one. After all, investing in one is easy since the money is taken out of your paycheck directly. And you get to save with pre-tax dollars, which makes it much more affordable to put money into your account. Your employer may even match some of the contributions you make, which is a huge benefit since you’re literally getting free money.
But just because a 401(k) is a good option for a retirement investment account doesn’t mean there aren’t downsides. And one of the big disadvantages is that putting all your retirement savings into a 401(k) could lead to more taxes on your Social Security benefits. Here’s why.
Image source: Getty Images.
Distributions from a 401(k) count as income when determining if your Social Security benefits are taxable
If you max out your 401(k), chances are good that most or all of your income in retirement will come from that account, along with your Social Security benefits. Unfortunately, taking large distributions from your 401(k) to supplement your Social Security retirement income could end up reducing the amount of your checks from the Social Security Administration.
That can happen because Social Security benefits become partially taxable once your income exceeds $25,000 as a single filer or $32,000 as a married joint tax filer.
Not all income counts in this calculation, though — only half your Social Security benefits count as well as 100% of other taxable income. And that “other taxable income” category is where a problem can arise. See, distributions from your 401(k) are taxed as ordinary income in retirement and so they count as taxable income for determining what portion (if any) of your Social Security checks you lose to taxes.
Since the average Social Security benefit only replaces about 40% of pre-retirement income, you’ll likely rely a lot on your investment accounts to supplement your benefits. And if most or all of your extra money comes out of your 401(k) because that’s the primary account you contributed to, you’ll quickly find yourself with income above the thresholds at which some of your benefits will be taxed — especially since those thresholds at which benefits are taxable aren’t indexed to inflation so they don’t increase even as wages and prices do.
What should you do instead of maxing out your 401(k)
First and foremost, you always want to contribute enough to your 401(k) to get your full employer match. And you’ll also want to look into whether your employer offers a Roth 401(k). If they do, you can contribute money to it with after-tax dollars and make tax-free withdrawals in retirement so any distributions from your Roth won’t count as income for purposes of determining if your Social Security benefits taxable. You’ll get all the advantages of contributing to a workplace account without the big downside of a traditional 401(k).
But if your employer doesn’t offer a Roth 401(k), you may want to contribute just enough to a traditional 401(k) to get your employer match and then put extra money in a Roth IRA (assuming you’re eligible to contribute to one based on your income).
While putting money into a Roth means contributions cost a little more when you make them since you’re investing with after-tax dollars, you’ll be able to withdraw as much as you want from your Roth IRA in retirement without owing taxes on the distributions or rendering more of your Social Security income subject to tax. In other words, you may be able to avoid federal taxes on most or all of your retirement money.
Since every little bit counts when you’re living on a fixed income, getting some of your retirement money from a Roth so you can limit taxes on your Social Security benefits could make a big difference in your financial security as a retiree.
Facebook stock jumps 9% to record high after profit tops $5 billion – MarketWatch
Facebook Inc.
FB,
+7.70%
shares rocketed more than 7% to new highs Friday morning following an earnings report that showed the social-media company collected more than $5 billion in profit despite a worldwide pandemic and targeted ad boycott. Facebook stock opened at $255.82, 9.1% higher than Thursday’s closing price, giving it a market capitalization of roughly $730 billion. Major advertisers have committed to boycotting Facebook in July to protest its inability to prevent hateful posts, violence and misinformation on its platform, but the company said Thursday afternoon that it doesn’t expect much to change financially as a result. “We expect our full-quarter Q3 year-over-year ad revenue growth rate to be roughly similar to this” quarter that was reported Thursday, Chief Financial Officer David Wehner said in a conference call. Facebook shares have gained more than 23% this year, as the S&P 500 index
SPX,
+0.05%
has added 0.5%.
