A new Reuters poll shows Americans losing trust in Facebook Inc. (NASDAQ: FB). According to Reuters:
Opinion polls published on Sunday in the United States and Germany cast doubt over the level of trust people have in Facebook over privacy, as the firm ran advertisements in British and U.S. newspapers apologizing to users.
Fewer than half of Americans trust Facebook to obey U.S. privacy laws, according to a Reuters/Ipsos poll released on Sunday, while a survey published by Bild am Sonntag, Germany’s largest-selling Sunday paper, found 60 percent of Germans fear that Facebook and other social networks are having a negative impact on democracy.
Car dealers have started to worry about high prices. According to The Wall Street Journal:
As the automotive industry braces for changes including electrification and autonomy, dealers across the U.S. are worried about something much simpler: the price of a new car.
After decades of fighting to protect their businesses and advocating for dealers to Congress and the federal government, dealers see their new mission as advocating for the consumer to keep the cost of a new vehicle low.
A delayed Chapter 11 filing by Remington was finally completed. According to The Wall Street Journal:
Firearms maker Remington Outdoor Co. sought bankruptcy protection Sunday, in the face of a heavy debt load, falling sales and lawsuits tied to the Sandy Hook school shooting.
Remington filed for chapter 11 protection in the U.S. Bankruptcy Court in Wilmington, Del., with plans to hand over control of the company to its creditors—including Franklin Resources Inc. and JPMorgan Chase & Co.’s asset-management division—in exchange for wiping much of its debt from its balance sheet.
“Black Panther” lost its top spot at the box office after five weeks in the number one position. According to Box Office Mojo:
It had to happen at some point and this was the weekend that saw Black Panther’s streak as the #1 film at the weekend box office come to an end at the hands of Pacific Rim Uprising. That being said, it wasn’t a down weekend for Black Panther at all as it became the highest grossing superhero film of all-time, topping The Avengers with a domestic cume that now totals $630.9 million, becoming one of the top five domestic releases of all-time.
Uber has abandoned the Southeast Asia market. According to Bloomberg:
Uber Technologies Inc. has agreed to sell its Southeast Asian operations to Grab, withdrawing from yet another fast-growing region to end a war of attrition with a fierce local rival.
Under the agreement, Grab will acquire all of Uber’s operations in a region of 620 million people, including food delivery service UberEats. The U.S. ride-hailing behemoth in return gets a 27.5 percent stake in Grab and its chief executive officer will join the board of the Singapore-based company. Bloomberg News reported over the weekend that the two companies had finalized a deal.
China could cut back its purchase of U.S. debt as a means to avert tariffs. According to CNNMoney:
The Chinese ambassador to the United States would not rule out his nation scaling back the purchase of US government debt if the two nations end up in a trade war.
When asked by Bloomberg Television if China is considering scaling back its purchases of US debt, ambassador Cui Tiankai responded, “We are looking at all options.”