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1. According to the Financial Times, Abu Dhabi National Oil Company plans to build an oil product pipeline bypassing the Strait of Hormuz. 2. According to foreign media reports, a joint statement shows that Indonesian business groups are calling on the government to issue technical guidelines for its plans to centralize exports and retain export profits in state-owned banks. The Indonesian Employers Association, along with the Miners, Coal Miners, Nickel Smelters, and Palm Oil Producers Association, stated that they support the new regulations but hope the government will cooperate with the private sector in their implementation. 3. According to CCTV News, on the 2nd local time, Israeli sources reported that the fourth round of Israel-Lebanon talks was held in Washington, D.C. 4. According to Iranian media Fars News, an informed source revealed that although some Western media and officials have attempted to describe the information exchange process between Iran and the United States as normal, there is currently no information exchange between the two sides. Information exchanges between Iran and the United States aimed at reaching a preliminary memorandum of understanding have been interrupted for at least several days. 5. Federal Reserves Hamak stated that inflation may require policy assistance to reach 2%; if the inflation trend does not cool, the Fed may need to act "as soon as possible"; maintaining stable interest rates is reasonable at present, but if high inflation persists, a larger adjustment may be needed; there are no signs of rising inflation expectations. 6. According to the European Commission, as of May 31, the EUs palm oil imports for 2025/26 were 2.6 million tons, compared to 2.75 million tons in the same period last year. The EUs soybean imports for 2025/26 were 12.38 million tons, compared to 13.32 million tons last year. 7. Iranian media reported on the 2nd that the application system for ship passage permits in the Strait of Hormuz is now fully open, allowing ship owners and captains worldwide to submit applications at any time of day, 24 hours a day. 8. The World Meteorological Organization issued a bulletin on the 2nd stating that considering factors such as unusually warm tropical Pacific Ocean waters, the probability of an El Niño event occurring from June to August is 80%, and the risk of extreme weather in the coming months is rising accordingly. 9. According to Dan Struven, co-head of global commodities research at Goldman Sachs, if commercial crude oil inventories continue to decline at the recent rate with the Strait of Hormuz almost completely closed, U.S. diesel inventories could fall to a critical level by August, enough to sustain only 20 days of supply. 10. U.S. JOLTs job openings surged in April, rising to 7.62 million from 6.89 million in March, reaching the highest level in nearly two years, while layoffs decreased. These signs indicate that the labor market remains strong despite pressure from rising energy costs due to the war with Iran.Bank of England Governor Bailey: Not all AI-related stocks will be winners.US Secretary of State Rubio: Iran will not receive the lifting of sanctions simply because the Strait of Hormuz has been reopened.U.S. Secretary of State Marco Rubio: Any reduction or easing of sanctions on Iran will be contingent upon the fulfillment of relevant conditions.Bank of England Governor Bailey: It is necessary to maintain the labor supply to promote economic growth.

Meta promises to provide Facebook and Instagram with new premium services

Haiden Holmes

Sep 01, 2022 11:03

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The Verge reported on Tuesday, citing an internal document, that Meta Platforms Inc is forming a new product group to develop "possible commercial services" for its Facebook (NASDAQ:META), Instagram, and WhatsApp platforms.


In an interview with The Verge, John Hegeman, head of advertisements and business products at Meta, indicated that the company has no plans to charge users to stop commercials and is committed to increasing its advertising business.


The company did not immediately respond to Reuters' request for comment.


Hegeman declined to elaborate on the premium features under discussion, according to the newspaper.


This would bring Meta in line with Snap Inc (NYSE:SNAP) and Twitter Inc (NYSE:TWTR), both of which have launched paid tiers to unlock additional features.


Due to fears of a recession and more competition, Meta recorded its first quarterly decrease in revenue last month.


According to the source, Pratiti Raychoudhury, a former research director at Meta, would manage the New Monetization Experiences group.