Meta to cut up to 30% of metaverse budget, Bloomberg News reports

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Avatars, influencers in China livestreams help drive Reckitt’s emerging-market led growth

LONDON, Dec 5 (Reuters) – Influencers and AI-generated avatars selling everything from Durex condoms to Harpic toilet cleaner on livestreaming apps in China are propelling emerging-market led growth for consumer goods company Reckitt.E-commerce now accounts for around 80% of China’s total sales, Reckitt said …

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Meta to cut up to 30% of metaverse budget, Bloomberg News reports

The Facebook parent’s shares rose 4% as the move eased some investor jitters over a bet that CEO Mark Zuckerberg has backed with billions of dollars, only for the business to burn more than $60 billion since 2020. The company even changed its name to Meta from Facebook in 2021 to signal its priorities.The pro …

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Europe must guard against US dominance in rare earths, agency head says

LONDON, Dec 5 (Reuters) – Europe has finally taken major steps to build up its rare earths sector to counter Chinese dominance, but the region also needs to guard against being overwhelmed by the United States, the head of an EU-funded agency for key minerals said.Bernd Schaefer, CEO of EIT RawMaterials, welc …

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Netflix to buy Warner Bros Discovery’s studios, streaming unit for $72 billion

Dec 5 (Reuters) – Netflix on Friday agreed to buy Warner Bros Discovery’s TV, film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood’s most prized and oldest assets to the streaming pioneer.The agreement follows a weeks-long bidding war in which Netflix offered …

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Meta to cut up to 30% of metaverse budget, Bloomberg News reports

💰 Why Elon just wrote a $51M check for a 90-cent material [sponsor]

Avatars, influencers in China livestreams help drive Reckitt’s emerging-market led growth

Meta to cut up to 30% of metaverse budget, Bloomberg News reports

Europe must guard against US dominance in rare earths, agency head says

Netflix to buy Warner Bros Discovery’s studios, streaming unit for $72 billion

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Trump’s New AI Initiative Is a Game Changer [sponsor]

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