Morning Beat: Deutsche Bank AG (USA) (DB), Facebook Inc (FB), and Amazon.com, Inc. (AMZN)
Deutsche Bank AG (USA) (NYSE:DB) has put its expansion plans on hold in North Carolina over the new anti-gay law. The state recently passed a ‘Bathroom law’ that overturns protections against the gay people amidst a backlash from large companies.
Angered by the state’s governor move to ascend to ascend the new bill into law, German’s biggest bank says it will go slow on any expansion plans that could have resorted in more jobs for the state. Deutsche Bank AG (USA) (NYSE:DB) currently employs 900 people in the state. There were plans to hire an additional 250 as part of an expansion plan.
Deutsche Bank decision is just the latest after the likes of Apple Inc. (NASDAQ:AAPL) and Goldman Sachs Group Inc (NYSE:GS) having already echoed their resentment to the new law.
Advertisers are increasingly switching to platforms supporting video as viewership continues to clock all-time highs. Facebook Inc (NASDAQ:FB) and YouTube have since emerged as the go-to places for advertisers looking to attract millennials with their video campaigns.
Business Insider estimates that video advertising could account for 41% of the desktop spending by 2020. As YouTube and Facebook jostle for the ad spend, the same begs question, which platform will come on top as a preferred destination for advertisers?
Facebook Inc (NASDAQ:FB) should be an advertiser’s choice if one wishes to enjoy the benefits of a bigger audience. When it comes to paying for quality-watched time, YouTube beats its rival with ease. Even so, using both platforms is highly encouraged given the benefits both of them have to offer.
Amazon.com, Inc. (NASDAQ:AMZN) has unveiled its one-hour delivery service in Surrey, as part of its expansion drive across the UK. The service has already touched ground in Liverpool, Newcastle, London, and Manchester.
For just £6.99, customers in the county can now have their orders delivered in under an hour. Amazon.com, Inc. (NASDAQ:AMZN) is also offering a two-hour delivery option free. Customers in some selected Hampshire and Berkshire codes will be able to order more than15,000 items and have them delivered in under two hours.
Alibaba Group Holding Ltd (NYSE:BABA) might have offered Lazada a lifeline on investing $1 billion for a controlling stake. Reports indicate the e-commerce retailer was running out of cash prior to the Chinese juggernaut coming onboard.
How healthy the South Asia e-commerce retailer is financially, is a point of discussion having grossed $191 million in sales for the first nine months of last year. The company had initially grossed $233 million for the same period the prior year.
Even with the concerns, Lazada is still a good acquisition for Alibaba Group Holding Ltd (NYSE:BABA), which is increasingly looking for growth opportunities on the global scene. The e-commerce giant can now expand into Singapore, the Philippines, and Vietnam, some of the countries where the company currently operates.
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