Facebook parent Meta Platforms added more users than expected – growing to a total of 1.96 billion – but posted its slowest revenue growth since going public a decade ago. Meta shares surged Wednesday afternoon following the earnings report. Facebook is navigating growing competition from rivals like TikTok and privacy issues relating to its advertising business. Meta’s earnings served as further evidence of turbulence for the digital-ad business.
New York City is expected to delay enforcement of salary transparency until November after advocates and business leaders clashed on whether pay disclosure is the best way to close a gender pay gap. Pay transparency laws are becoming more common and expansive, with Colorado and Washington also passing similar laws. Younger workers are increasingly discussing pay, with some 42% of Gen Z workers and 40% of millennial employees having shared their salary information with a coworker or other professional contact.
The Metropolitan Water District of Southern California declared a water shortage emergency Tuesday and ordered limits to reduce nonessential water use as the northern part of the state endures extreme drought. Oregon’s governor also imposed emergency declarations with more than half the land area in the state now facing drought. Hundreds of professionals have gathered in Washington to advocate for sustainable water services during Water Week 2022. Forecasters at the National Oceanic and Atmospheric Administration said nearly 60% of the continental U.S. is experiencing some level of drought.
A major railway in Japan is now generated only by solar and other renewables, meaning the carbon dioxide emissions of Tokyu Railway’s sprawling network now stand at zero. Green energy is also being used at all of its stations for powering things like vending machines, security cameras and lighting. Samsung Electronics plans to join a group of global corporations committed to 100% renewable energy and Amazon recently announced 37 new renewable energy projects around the world.
CNN+ will be discontinued Thursday, two days earlier than parent Warner Bros. Discovery initially announced last week. Financial projections assumed CNN+ would one day attract nearly 30 million global subscriptions from a total addressable market of roughly 72 million people. Experts are concerned CNN+’s demise could hinder big news organizations’ attempts to innovate during a time when platforms must experiment to stay relevant.
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