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X suspends pro-Hitler account as advertisers storm out

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At least two prominent brands temporarily suspended their advertising on the X platform after their ads were found to have appeared on an account that openly supported Hitler and the Nazi ideology.

The X platform, formerly known as Twitter, faced scrutiny as the liberal watchdog group Media Matters for America exposed that ads from several companies had surfaced on an account named “New American Union.”

This account was known to share memes and content expressing sympathy towards Hitler and the Nazis.

Both Gilead Sciences and NCTA confirmed their temporary ad pauses, with NCTA expressing its concerns over its ad placement next to such disturbing content.

Brands Resume Advertising

Sources suggest that Gilead Sciences and NCTA resumed advertising on the X platform after receiving explanations from the social media company regarding the situation. However, NCTA contested this claim, asserting that their ad pause remained in effect.

The “New American Union” account has since been suspended, marking a response to the controversy surrounding its content.

Media Matters had identified brands such as the Atlanta Falcons, Major League Baseball, Sports Illustrated, The Athletic, Office Depot, Samsung, Gallup, and USA Today, among others, whose ads had appeared on the “New American Union” profile before its suspension.

NCTA spokesperson Brian Dietz expressed the organization’s commitment to brand safety and highlighted the importance of responsible ad placement, emphasizing their proactive approach to addressing the issue.

X’s Explanation and Action

X provided clarification to the brands whose ads had appeared on the controversial profile, indicating that the ads were not intentionally placed there. Instead, the ads appeared due to targeting algorithms that were following individual users who had migrated to the pro-Nazi account.

The company emphasized that brands do not specifically request to be associated with certain content and that ad placement is determined by user behavior and targeting mechanisms.

Platform’s Response and Strategy

X confirmed the suspension of the “New American Union” account, asserting that the account’s reach and impact were minimal, thus limiting the effect of any ad impressions that occurred.

Under the leadership of CEO Linda Yaccarino, X has aimed to regain advertiser trust and loyalty following Elon Musk’s acquisition of the platform. The company has introduced a content moderation policy emphasizing “freedom of speech, not reach.”

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Powell warns against further December interest rate cuts

Powell warns against assumptions of further rate cuts, highlighting divisions within the Fed amid ongoing economic uncertainties

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Powell warns against assumptions of further rate cuts, highlighting divisions within the Fed amid ongoing economic uncertainties

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In Short:
– Jerome Powell stated further interest rate cuts are uncertain after recent decreases, aiming to manage market expectations.
– The Fed ended its balance sheet reduction due to lending market disruptions and mixed views on future rate cuts among officials.

Federal Reserve chairman Jerome Powell indicated that further interest rate cuts are not guaranteed following the recent decrease. In a press conference, he stated that a further reduction in December is “far from” certain. His comments aimed to temper market expectations, where the likelihood of another cut was previously estimated at over 90 per cent.In response to Powell’s remarks, yields on the two-year treasury rose, and traders adjusted their expectations, now estimating a 60 per cent chance of a December reduction. Recently, the Federal Open Market Committee voted 10-2 to lower the federal funds rate target range to 3.75-4 per cent, in response to concerns about the labour market.

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The Fed has also announced an end to its balance sheet reduction efforts due to disruptions in short-term lending markets. Since 2022, the bank has reduced its asset holdings by over $US2 trillion following aggressive purchases aimed at stabilising the economy after the pandemic.

Policy Divisions

Recent post-meeting statements highlighted mixed views among Fed officials about the pace of future rate cuts. Powell remarked that uncertainty surrounding economic conditions necessitates a cautious approach. Ongoing government shutdowns have limited policymakers’ access to crucial economic data, complicating decision-making.

Recent labour market developments show slowed job gains, raising concerns about employment. The Fed is also cautious about reducing rates too quickly due to inflation remaining above their 2 per cent target, reflecting a complex economic landscape. Policymakers have struggled with decisions amid data limitations from the government shutdown, impacting their assessments of inflation and economic indicators.


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Trump finalises trade deal with South Korea at summit

Trump and South Korea finalise trade deal as he prepares for vital summit with Xi Jinping in Busan

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Trump and South Korea finalise trade deal as he prepares for vital summit with Xi Jinping in Busan

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In Short:
– Trump and South Korea’s Lee finalised a trade deal requiring $350 billion in U.S. investments.
– Trump anticipates favourable talks with China to reduce tariffs and improve relations.

Donald Trump and South Korean President Lee Jae Myung finalised a contentious trade deal at a summit in South Korea on Wednesday. The U.S. President expressed optimism about an upcoming summit with China’s Xi Jinping.The agreement, unveiled in late July, stipulated that South Korea would make $350 billion in new investments in the U.S. to avoid significant tariffs on imports. However, negotiations on the investment structure had stalled.

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Trump and Lee reached a compromise allowing Seoul to divide its $350 billion investment into $200 billion in cash, paid in $20 billion instalments. The remaining $150 billion will be allocated to shipbuilding investments.

Upon arrival from Tokyo, following a North Korea missile test, President Trump received an extravagant welcome in the historic city of Gyeongju, the venue for this year’s Asia-Pacific Economic Cooperation forum.

His discussions with Xi are scheduled for Thursday in Busan. Trump downplayed the North Korea missile test and focused on his meeting with Xi, the leader of the world’s second-largest economy.

“I think we’re going to have a very good outcome for our country and for the world,” Trump stated. He anticipates reducing U.S. tariffs on Chinese imports in exchange for China agreeing to control the export of fentanyl precursor chemicals. The Wall Street Journal reported that tariffs could be halved from the current 20%.

China’s foreign ministry indicated that the upcoming meeting would foster positive developments in U.S.-China relations.

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December rate cut all but locked in

Australia’s economy struggles; rate cut impending but signals deeper issues, not recovery. #RBA #InterestRates #FinanceNews

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Australia’s economy struggles; rate cut impending but signals deeper issues, not recovery. #RBA #InterestRates #FinanceNews


Australia’s economy is losing steam, with weak consumer confidence, falling job ads, and a struggling construction sector, a December rate cut now seems inevitable. But it won’t be a win, it’ll be a warning.

#RBA #InterestRates #AustraliaEconomy #Inflation #Growth #Recession #FinanceNews #CPI #Economy #RateCut


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