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☆ Photographer steps inside Vietnam’s shadowy ‘click farms’
▼ + stars: | 2024-03-08 | by ( Bibek Bhandari | ) edition.cnn.com time to read: +7 min

“With social media, our attention is a product for advertisers and marketers.”Jack Latham’s project took him to five click farms in Vietnam. Though it is unclear when click farms began proliferating, tech experts warned about “virtual gang masters” operating them from low-income countries as early as 2007. In the following decades, click farms exploded in number — particularly in Asia, where they can be found across India, Bangladesh, Indonesia, the Philippines and beyond. The photographer added that TikTok is now the most popular platform at the click farms he visited. He included them in the book to represent the kind of content he saw being boosted by click farms.

Persons: Jack Latham, Vietnam —, ” Latham, Jack Latham’s, Latham, ”, Cambodia’s, Hun Sen, Donald Trump, — Organizations: CNN, Facebook, Twitter, China Advertising Association, “, BBC, Here Locations: Vietnam, Hanoi, Asia, India, Bangladesh, Indonesia, Philippines, China, Silicon, Hong Kong, —, North Macedonia, Vevey, Switzerland

☆ Analysis: China rebound buoys hopes for stronger-than-expected US, Europe earnings
▼ + stars: | 2023-04-24 | by ( Joice Alves | ) www.reuters.com time to read: +6 min

But recent data and upbeat comments from major companies like LVMH (LVMH.PA), Europe's most valuable listed company, about business in China have given investors some cause for optimism. Refinitiv I/B/E/S data points to a 2.5% decline in earnings growth in the first quarter for STOXX 600 (.STOXX) companies, down from a forecast for 5.4% growth prior to the banking chaos. Europe is headed for a recession too, the data shows, with a drop in earnings of 5.4% expected in the second quarter. But stubbornly high inflation means major central banks are expected to continue to hike rates, at least in May. European financials are expected to report first-quarter earnings growth of 31%, according to Refinitiv.

☆ Financial shares fall as Credit Suisse becomes latest crisis for the sector
▼ + stars: | 2023-03-15 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Shares of the Swiss bank fell more than 24% after its biggest backer said it won't provide further financial support. Credit Suisse announced on Tuesday that it had found " material weakness " in its financial reporting process from prior years. Bank stocks were under pressure on Wednesday as the sharp drop of Credit Suisse rattled a segment of the market that was already reeling from two large bank failures in the past week. Some regional bank stocks saw even bigger declines. Credit Suisse struggles come on the heels of the collapse of Silicon Valley Bank and Signature Bank in the U.S. Those failures caused steep sell-offs in regional bank stocks on Monday.

The maker of KitKat chocolate bars and Nescafe reported organic sales, which cut out the impact of currency movements and acquisitions, rising by 8.5% in the nine months to end-September. "We delivered strong organic growth as we continued to adjust prices responsibly to reflect inflation," the company's chief executive Mark Schneider said. "Sales volumes have held up well so far but we are a way from peak cost of living squeeze." As a result Nestle raised its full-year outlook, saying it now expected organic growth of "around 8%" for 2022, up from a 7% to 8% increase previously. The Swiss company also confirmed its target for a trading operating profit margin of around 17%.

☆ Nestle raises FY outlook as KitKat maker pushes through price hikes
▼ + stars: | 2022-10-19 | by ( John Revill | ) www.reuters.com time to read: +3 min

Jars of Nescafe Gold coffee by Nestle are pictured in the supermarket of Nestle headquarters in Vevey, Switzerland, February 13, 2020. The KitKat chocolate bar maker reported organic sales, which cut out the impact of currency movements and acquisitions, rising by 8.5% in the nine months to end-September. As a result Nestle raised its full-year outlook, saying it now expected organic growth of "around 8%" for 2022, up from a 7% to 8% increase previously. The Swiss company also confirmed its target for a trading operating profit margin of around 17%. "Our real internal growth remained resilient despite a high base of comparison and continued supply chain constraints, with limited demand elasticity," Schneider said.

Jars of Nescafe Gold coffee by Nestle are pictured in the supermarket of Nestle headquarters in Vevey, Switzerland, February 13, 2020. Russia's invasion of Ukraine has propelled energy and grain prices to all-time highs, driving up the cost of packaged goods. That has been felt particularly acutely in parts of Asia and North Africa, where people spend a higher proportion of income on food and fuel than in the United States and Europe, prompting some shoppers to stockpile non-perishable items. "Nestle is seeing hoarding with bouillon, to an extent soups, coffee for sure," Al Bitar told Reuters. Several countries in North Africa and Central Asia are suffering recurring shortages of basic necessities.

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