Google Limits Political Ad Targeting
Google on Wednesday announced new restrictions on political advertisers around the world. The company has joined Twitter in revising its political ad rules ahead of the election season.
Google will begin enforcing the ban within a week in the U.K., ahead of the December 12 general election. The ban will take effect in the European Union by the end of the year and in the rest of the world starting on January 6, 2020, the company said in a blog post.
Google said political advertisers will only be able to target U.S. political ads based on general categories such as gender, age and postal code. Previously, the company offered basic political targeting capabilities to the verified advertisers, such as serving ads based on public voter records and general political affiliations.
However, the company said that the political advertisers can continue to do contextual targeting, such as serving ads to people reading or watching a story about, say, the economy.
European Economics Preview: France Consumer Confidence Data Due
Consumer confidence from France is due on Wednesday, headlining a light day for the European economic news.
At 1.00 am ET, consumer and manufacturing confidence survey results are due from Finland.
At 2.00 am ET, Germany’s Destatis is scheduled to issue import prices for October. Import prices are forecast to fall 3.5 percent on year, following a 2.5 percent decrease in September.
At 2.45 am ET, France’s Insee is scheduled to issue consumer sentiment for November. The consumer confidence index is expected to fall to 100 in November from 104 in October.
At 3.00 am ET, unemployment data is due from Hungary. The jobless rate is seen at 3.5 percent in October, unchanged from September.
Half an hour later, Statistics Sweden publishes foreign trade data for October.
At 4.00 am ET, Italy’s Istat publishes consumer and business confidence survey results. The consumer sentiment index is forecast to remain unchanged at 111.7 in November.
In the meantime, Poland’s unemployment data is due. Economists forecast the jobless rate to remain unchanged at 5.1 percent in October.
Also, Austria’s manufacturing Purchasing Managers’ survey data is due.
Uber co-founder Travis Kalanick has unloaded over $1.7B of stock
Uber loses London operating license
Uber is appealing the loss of its license to operate in London in an ongoing battle with regulators. FOX Business’ Jackie DeAngelis with more.
Travis Kalanick has continued to dump Uber shares over the past week.
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The Uber co-founder has sold 8.4 million shares of the ride-hailing company since Friday, cashing out another $250 million, a filing with the U.S. Securities and Exchange Commission showed.
HOUSING MARKET COMEBACK HEATS UP
Kalanick has sold more than $1.7 billion worth of Uber shares since Nov. 6, when the initial-public-offering lockup period expired. It is unclear what Kalanick plans to do with the proceeds.
He did not immediately respond to FOX Business’ request for comment.
Kalanick, who stepped down as CEO in June 2017 amid scrutiny of the firm's handling of harassment and discrimination complaints, still owns more than 36 million shares of the company, worth more than $1.07 billion at Tuesday’s closing price of $29.53 a share.
Uber priced its IPO at $45 a share, giving the company a valuation of about $82 billion – below the $100 billion that the riding-hailing company had targeted. Its market cap has since dropped to less than $50 billion.
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Shares are down 35 percent since its May 10 IPO.
Seven-Year Note Auction Attracts Average Demand
After announcing the results of its auctions of two-year and five-year notes earlier this week, the Treasury Department revealed Wednesday that its auction of $32 billion worth of seven-year notes attracted average demand.
The seven-year note auction drew a high yield of 1.719 percent and a bid-to-cover ratio of 2.44.
Last month, the Treasury also sold $32 billion worth of seven-year notes, drawing a high yield of 1.657 percent and a bid-to-cover ratio of 2.46.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
The ten previous seven-year note auctions had an average bid-to-cover ratio of 2.43.
The Treasury revealed earlier this week that its auctions of $40 billion worth of two-year notes and $41 billion worth of five-year notes both attracted above average demand.
Jimmy Carter Released From Hospital After ‘Successful Surgery’
Former President Jimmy Carter was released from an Atlanta hospital Wednesday morning, two weeks after a “successful surgery” to relieve pressure in his brain and just in time to enjoy Thanksgiving with his family, his foundation said.
Carter will continue his recovery at his home in Plains, Georgia, according to the statement from The Carter Center on Wednesday.
The longest-living president in U.S. history, Carter, 95, was hospitalized at Emory University Hospital on Nov. 11 for “pressure on his brain caused by a subdural hematoma.” He underwent surgery the following day, with no complications from the procedure.
He was previously hospitalized in October for a minor pelvis fracture after falling in his home. In 2015, he beat a cancer diagnosis.
The former president continues to regularly teach Sunday school at his church in Georgia and build homes with Habitat for Humanity.
During a Sunday school class earlier this month, the former president said that after his cancer diagnosis, he “found that I was absolutely and completely at ease with death.”
On Wednesday, he and his wife, former first lady Rosalynn Carter, thanked well-wishers.
“He and Mrs. Carter look forward to enjoying Thanksgiving at home in Plains, where he will continue to recover,” The Carter Center said in its statement. “The Carters are grateful for all the prayers, cards, and notes they have received and hope everyone will join them in enjoying a special Thanksgiving.”