Cheddar morning business update 8/10: Facebook launches original video series

Posted: Updated:
  • Concern about North Korea is putting the brakes on Wall Street's long winning streak. Today investors are waiting on Snapchat parent Snap to report its earnings. Snap was once a wall street darling but investors have been losing faith as Facebook and Instagram keep rolling out similar features. 
  • The social media giant is launching Facebook Watch, a new service that lets users watch original video series. The content is produced exclusively by partners like A&E, NASA, PopSugar and Cheddar. Partners will earn 55% of ad revenue while Facebook keeps 45%. The “Watch” tab, a small TV, will start rolling out in the U.S. this week. 
  • Europe could soon face a shortage of butter. A major rise in global demand has caused wholesale prices nearly to double in the past year. CNN Money reports one industry group in France describes it as a “major crisis,” warning of a sharp increase in the price of croissants, tarts and brioches.
  • BusinessMore>>

  • MGM sues Vegas shooting victims in push to avoid liability

    MGM sues Vegas shooting victims in push to avoid liability

    Tuesday, July 17 2018 2:31 PM EDT2018-07-17 18:31:22 GMT
    Wednesday, July 18 2018 12:52 AM EDT2018-07-18 04:52:53 GMT
    MGM Resorts International has sued hundreds of victims of the deadliest mass shooting in modern U.S. history in a bid to avoid liability for the gunfire that rained down from its Mandalay Bay casino-resort in Las...
    MGM Resorts International has sued hundreds of victims of the deadliest mass shooting in modern U.S. history in a bid to avoid liability for the gunfire that rained down from its Mandalay Bay casino-resort in Las Vegas.
  • Man suspected in California serial rapes drove for Lyft

    Man suspected in California serial rapes drove for Lyft

    Tuesday, July 17 2018 4:10 PM EDT2018-07-17 20:10:29 GMT
    Wednesday, July 18 2018 12:52 AM EDT2018-07-18 04:52:26 GMT
    Federal immigration authorities say a suspected serial rapist who is charged with posing as a Northern California ride-sharing driver to prey on his victims was living in the country illegally.
    Federal immigration authorities say a suspected serial rapist who is charged with posing as a Northern California ride-sharing driver to prey on his victims was living in the country illegally.
  • Lawmakers warn Trump tariffs threaten local newspapers

    Lawmakers warn Trump tariffs threaten local newspapers

    Tuesday, July 17 2018 11:33 AM EDT2018-07-17 15:33:32 GMT
    Wednesday, July 18 2018 12:52 AM EDT2018-07-18 04:52:18 GMT
    Members of Congress are warning that newspapers in their home states are in danger of layoffs, cutting coverage or going out of business entirely if the United States maintains recently imposed tariffs on Canadian...
    Members of Congress are warning that newspapers in their home states are in danger of layoffs, cutting coverage or going out of business entirely if the United States maintains recently imposed tariffs on Canadian newsprint.
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