Newly renamed Meta is investing heavily in its futuristic "metaverse" project, but for now, relies on advertising revenue for nearly all its income. So when it posted sharply higher costs but gave a weak revenue forecast late Wednesday, investors got spooked — and knocked almost USD 200 billion off the valuation of the company formerly known as Facebook. Meta’s shares fell over 25% to USD 249.90 in afterhours trading.
KFC faces boycott in China over meal toy promotion. A top Chinese consumer group has called for a boycott of a KFC meal promotion, saying it encourages food waste. The China Consumers Association (CCA) says the promotion sent some customers into a buying frenzy. KFC launched the promotion last week with Pop Mart, a Chinese toy maker known for its mystery boxes.
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