Cheddar morning business update 8/10: Facebook launches original video seriesPosted: Updated:
- Concern about North Korea is putting the brakes on Wall Street's long winning streak. Today investors are waiting on Snapchat parent Snap to report its earnings. Snap was once a wall street darling but investors have been losing faith as Facebook and Instagram keep rolling out similar features.
- The social media giant is launching Facebook Watch, a new service that lets users watch original video series. The content is produced exclusively by partners like A&E, NASA, PopSugar and Cheddar. Partners will earn 55% of ad revenue while Facebook keeps 45%. The “Watch” tab, a small TV, will start rolling out in the U.S. this week.
- Europe could soon face a shortage of butter. A major rise in global demand has caused wholesale prices nearly to double in the past year. CNN Money reports one industry group in France describes it as a “major crisis,” warning of a sharp increase in the price of croissants, tarts and brioches.