Business Maverick: Facebook Tops Revenue Estimates; FTC Opens Antitrust Probe

Jul 24, 2019, 10:16 PM – Updated on Jul 25, 2019, 2:56 AMFacebook Inc. showed that its business can weather all kinds of regulatory scrutiny — as long as people keep flocking to Facebook.

“If that doesn’t get put in place, then frustration with the industry will continue to grow,” he said on a conference call. Menlo Park, California-based Facebook said second-quarter sales rose 28% to $16.9 billion, compared with an average analyst projection of $16.5 billion. In a statement Wednesday, the company said 1.59 billion people log into the main social-media service daily, compared with the 1.57 billion users projected in a Bloomberg survey.

While the company’s growth hasn’t been throttled by regulatory changes or privacy restrictions yet, it’s possible new rules could slow future gains. The company said it expects revenue growth to decelerate, especially in the fourth quarter and into 2020.

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BUSINESS MAVERICK: Naspers’ Amsterdam listing elicits taxing questionsA kerfuffle has broken out among asset management companies about a scheme to avoid the immediate payment of capital gains tax in the process of Naspers’ listing in Amsterdam. Some say it’s tax avoidance rather than tax evasion. Others say it’s risky and opens shareholders to a tax challenge, so they are advising their clients to not do it. It shows Naspers shareholders face more than one tricky choice they should consider carefully.
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BUSINESS MAVERICK: Most South Africans can’t afford to retire, but there is a possible solutionChances are that when you reach retirement age you will have made too little provision to do so in comfort, or in some instances do so at all. It’s not just about a lack in savings culture – times are tough and every penny has been accounted for. But industry players say we can still turn this sinking ship around, and Retirement Benefits Counselling is where we should start.
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Business Maverick: Wednesday, July 24: Five Things You Need to Know to Start Your DayTrade talks between China and the U.S. are back on. And Beijing would like Washington to keep its mitts off of Hong Kong. Here are some of the things people in markets are talking about today.
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Business Maverick: U.S. Negotiators to Head to China Monday for Face-to-Face TalksU.S. Trade Representative Robert Lighthizer and senior U.S. officials are set to travel to China next Monday for the first high-level, face-to-face trade negotiations between the world’s two biggest economies since talks broke down in May.
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