By Noel Randewich and Sinad Carew (Reuters) - The collapse of Netflix's stock on Wednesday after the company reported its first loss of customers in a decade is the latest drastic sign that Wall Street is abandoning streaming services and other pandemic winners and questioning whether they still merit growth stock valuations. With Netflix shares tumbling 37% after the … [Read more...] about Netflix selloff is latest in Wall St retreat from streaming
Luxury brand Hermes considers metaverse as means to communicate
By Mimosa Spencer PARIS (Reuters) - Hermes is considering using the metaverse for communications although the maker of Birkin bags and other luxury goods remains focused on craftsmanship, Executive Chairman Axel Dumas told shareholders on Wednesday. "We are curious and interested" about the metaverse, he said, adding it could be a good communications tool. At Wednesday's … [Read more...] about Luxury brand Hermes considers metaverse as means to communicate
YouTube blocks account of Hong Kong’s sole leadership candidate
By Josh Ye and Clare Jim HONG KONG (Reuters) - YouTube blocked the account of Hong Kong's sole leadership candidate John Lee on Wednesday as part of U.S. sanctions against the city's former No. 2 official who said the move will not affect his bid to lead the financial hub for the next five years. Alphabet Inc, which owns YouTube, said on Wednesday it had taken down … [Read more...] about YouTube blocks account of Hong Kong’s sole leadership candidate
Crypto exchange Coinbase launches NFT marketplace for some U.S. users
By Elizabeth Howcroft LONDON (Reuters) - Major U.S. crypto exchange Coinbase Global Inc launched its NFT marketplace on Wednesday, in a sign of confidence in the niche digital asset even as the market shows signs of cooling. The platform, first announced in October, will initially be available for a "small number" of people in the United States, a Coinbase spokesperson … [Read more...] about Crypto exchange Coinbase launches NFT marketplace for some U.S. users
Netflix heads for worst day in two decades as investors hit ‘not for me’
By Eva Mathews and Nivedita Balu (Reuters) -Netflix Inc shares lost over a third of their value on Wednesday after the company reported its first drop in subscribers in a decade, leaving Wall Street questioning its growth in the face of fierce competition and post-pandemic viewer fatigue. The streaming pioneer's shares fell 37% to $220.40 and were headed for their worst day in … [Read more...] about Netflix heads for worst day in two decades as investors hit ‘not for me’
