clearn.png
Tuesday July 14th, 2020 1:56AM

Facebook, Twitter shares drop as European giant pulls ads

By The Associated Press
Related Articles
  Contact Editor

SAN FRANCISCO (AP) — Shares of Facebook and Twitter dropped sharply Friday after the the giant company behind brands such as Ben & Jerry's ice cream and Dove soap said it will halt U.S. advertising on Facebook, Twitter and Instagram through at least the end of the year.

That European consumer-product maker, Unilever, said it took the move to protest the amount of hate speech online. Unilever said the polarized atmosphere in the United States ahead of November's presidential election placed responsibility on brands to act.

Shares of both Facebook and Twitter fell roughly 7% following Unilever's announcement.

The company, which is based in the Netherlands and Britain, joins a raft of other advertisers pulling back from online platforms. Facebook in particular has been the target of an escalating movement to withhold advertising dollars to pressure it to do more to prevent racist and violent content from being shared on its platform.

“We have decided that starting now through at least the end of the year, we will not run brand advertising in social media newsfeed platforms Facebook, Instagram and Twitter in the U.S.," Unilever said. “Continuing to advertise on these platforms at this time would not add value to people and society.”

Facebook did not immediately respond to a request for comment. On Thursday, Verizon joined others in the Facebook boycott.

Sarah Personette, vice president of global client solutions at Twitter, said the company's “mission is to serve the public conversation and ensure Twitter is a place where people can make human connections, seek and receive authentic and credible information, and express themselves freely and safely.”

She added that Twitter is "respectful of our partners’ decisions and will continue to work and communicate closely with them during this time.”

  • Associated Categories: Associated Press (AP), AP Elections, General Presidential Election News, AP Business, AP Business - Corporate News, AP Business - Economy, AP Technology News
© Copyright 2020 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Wisconsin woman wants burn attackers to know they hurt her
A biracial Wisconsin woman who says a group of white men set her on fire wants her attackers to know they hurt her but she hopes they will improve themselves
3:21PM ( 7 minutes ago )
Thomas Blanton, KKK bomber of 16th St Baptist Church, dies
The last of three one-time Ku Klux Klansmen convicted in a 1963 Alabama church bombing that killed four Black girls has died in prison
3:14PM ( 14 minutes ago )
Virus hits Venezuelan city, raising fears of broader crisis
Witnesses say that hospitals in the capital of Venezuela’s main oil-producing state are filled with coronavirus patients and dozens of health workers have been infected
3:10PM ( 18 minutes ago )
Associated Press (AP)
Facebook, Twitter shares drop as European giant pulls ads
The company behind Ben & Jerry’s ice cream, Dove soap and a host of other consumer products says it will stop advertising on Facebook, Twitter and Instagram in the U.S. through at least the end of the year because of the amount of hate speech online
2:08PM ( 1 hour ago )
Utah Democrats cross party lines to have political impact
They support police reform, LGBTQ rights and Medicaid expansion
1:59PM ( 1 hour ago )
SUPREME COURT NOTEBOOK: Election-year retirement unlikely
The last time a Supreme Court justice announced his retirement in a presidential election year, most of the current justices were too young to vote
11:00AM ( 4 hours ago )
AP Elections
Biden, Trump stage rare dueling events in pandemic era
Both President Donald Trump and Democrat Joe Biden are swinging through key battleground states on Thursday
2:50PM ( 1 day ago )
Campaigning finds a new normal as door-knocking resumes
The coronavirus pandemic isn't going away anytime soon, but political campaigns are forging ahead with in-person organizing
2:43PM ( 1 day ago )
Bus crash in Polish capital kills 1, injures about 20 others
Polish authorities say a Warsaw city bus has crashed through a barrier on a highway overpass and fell several yards (meters) onto a concrete embankment below
8:58AM ( 1 day ago )
General Presidential Election News
As virus grows, governors rely on misleading hospital data
Governors in states seeing huge spikes in the coronavirus often downplay the outbreak by citing statewide data to assure the public they have plenty of hospital capacity to survive the onslaught of cases
2:45PM ( 43 minutes ago )
Stocks sink on Wall Street as new daily virus cases surge
Stocks are down sharply on Wall Street as the number of confirmed new coronavirus cases in the U.S. hit an all-time high, stoking worries among investors that the reopening of businesses they are banking on to revive the economy will be derailed
2:35PM ( 53 minutes ago )
Democrats fail to override Trump veto on student loan policy
House Democrats have failed to override President Donald Trump’s veto of a measure that would have reversed the Education Department’s tough policy on loan forgiveness for students misled by for-profit colleges
2:32PM ( 56 minutes ago )
AP Business
Banks lead stocks lower after the Fed caps their dividends
Stocks are moving lower on Wall Street, led by declines in banks after regulators told them they had to cap their dividends and halt stock buybacks in order to shore up their defenses in case the recession gets worse
12:58PM ( 2 hours ago )
Amazon looks to self-driving future by acquiring Zoox
Amazon said Friday that it is buying self-driving technology company Zoox, which envisions a future where people will request a ride on their phones and a car will drive up without a driver
11:34AM ( 3 hours ago )
5 Things to Know for Today
Here are a few things to know about the day’s news from The Associated Press
6:12AM ( 9 hours ago )
AP Business - Corporate News
Pentagon chief seeks to reassure NATO over US troop plans
U.S. Defense Secretary Mark Esper is trying to reassure NATO allies that Washington will consult them on any future troop movements, after President Donald Trump surprised his partners by announcing the withdrawal of thousands of personnel from Germany
11:59AM ( 3 hours ago )
Merkel: Germany 'can afford' more debt to fund EU recovery
Angela Merkel says Germany can afford to take more more debt to help fund an unprecedented economic recovery program for the European Union
11:55AM ( 3 hours ago )
The Latest: Texas Gov. Abbott shuts down bars, scales dining
Republican Gov. Greg Abbott shut down bars in Texas again Friday and scaled back restaurant dining, the most dramatic reversals yet as confirmed coronavirus cases surge
11:13AM ( 4 hours ago )
AP Business - Economy
Detroit says 'shoddy' work led to arrest tied to technology
Detroit police say a Black man who was wrongly arrested after the use of facial recognition technology will have his DNA, fingerprints and mugshot removed from files
12:26PM ( 3 hours ago )
Virgin Galactic marks second glide flight over New Mexico
Virgin Galactic is celebrating the second successful glide flight of its spaceship over Spaceport America in southern New Mexico
9:12PM ( 18 hours ago )
Verizon joins ad boycott of Facebook over hateful content
Verizon is joining an escalating movement to siphon advertising away from Facebook in an effort to pressure the company into doing more to prevent racist and violent information from being shared on its social networking service
7:43PM ( 19 hours ago )
AP Technology News
Wisconsin woman wants burn attackers to know they hurt her
A biracial Wisconsin woman who says a group of white men set her on fire wants her attackers to know they hurt her but she hopes they will improve themselves
3:21PM ( 7 minutes ago )
Thomas Blanton, KKK bomber of 16th St Baptist Church, dies
The last of three one-time Ku Klux Klansmen convicted in a 1963 Alabama church bombing that killed four Black girls has died in prison
3:14PM ( 14 minutes ago )
Virus hits Venezuelan city, raising fears of broader crisis
Witnesses say that hospitals in the capital of Venezuela’s main oil-producing state are filled with coronavirus patients and dozens of health workers have been infected
3:10PM ( 18 minutes ago )
Florida bans bar alcohol consumption as coronavirus spikes
Florida has banned alcohol consumption at its bars as the number of daily confirmed coronavirus cases nears 9,000
3:07PM ( 21 minutes ago )
Texas orders bars shut amid surge in confirmed virus cases
Republican Gov. Greg Abbott is shutting down bars in Texas again and scaling back restaurant dining
2:57PM ( 31 minutes ago )