5 Things You Need to Know This Week

From Facebook Q2 to Water on Mars, here's what you need to know.
AP PHOTO/ERIC RISBERG

1. Facebook Q2 Earnings

Lots of people were hitting the dislike button after Facebook released their Q2 earnings. The company missed analyst expectations slightly and the stock took a 10% dive closing out at $217.50. CEO Mark Zuckerberg had warned Wall Street in the past that Facebook revenue might take a hit as they shift the feed to focus on engagement with friends and family rather than from organizations and brands. With content management as well as the privacy scandals that Facebook has been facing, it’s no surprise that there has been negative impact on revenue growth. David Wehner, Facebook’s CFO said, “We expect our revenue growth rates to decline by high-single-digit percentages from prior quarters sequentially in both Q3 and Q4.” His comments resulted in another plummet of the stock. Don’t worry though, Facebook still posted $13.2 billion for the quarter, not too shabby. Looking at the silver lining of the negative report, Zuckerberg announced that 2.5 billion people use at least one of Facebook’s apps which include Facebook, obviously as well as WhatsApp and Instagram.

JIM LO SCOLZA/EPA

2. US Lowering Tariffs

President Trump is making friends on the playground and playing nice with the EU. He has agreed to work on lowering tariffs and making changes to trade barriers. On Wednesday, Trump met with the head of the European Commission and they came to the agreement to to towards “zero” tariffs, barriers and subsidies. The US realized the tariffs are hurting US industries like farming. The EU also agreed to buy billions of dollars worth of American exports like soya beans and natural gas. Trump proclaimed this is a “new phase” in US-EU relations. However, this is not the end of the trade war. The US is still coming in hot at China and has said he is ready to put tariffs on all $505 billion of Chinese goods that the US imports. If it comes down to dollar value, China won’t be able to hold up against the US.

ESA/INAF/DAVIDE COERO BORGA

3. Water on Mars

Scientists have been using Mars Express, a European Space Agency Probe that has been orbiting the planet since December 2003, to bounce radar waves into the planet to detect the planet’s composition and interior structure. Their findings are suggesting there might be a lake on Mars, buried a couple kilometers below ice below the south pole. This subglacial lake is about 20km wide and no more than a metre deep. The scientists are saying that the subglacial water must be at least negative 10 degrees Celsius. For this to be possible the water has to be salty, made up of sodium, magnesium and calcium which have been discovered on Mars’ surface. If this is the case, it will be the first time that water has been found on the planet. It’s the latest piece of evidence confirming that water existed on Mars in the past and that it is still flowing. This subglacial lake might be an indication that this lake is not alone but rather part of an extensive network expanding along the south polar region of Mars.

4. Demi Lovato

Demi’s team has released an official statement about her overdose to combat all the rumours and incorrect information being reported. The Los Angeles Police Department has confirmed that on Wednesday they responded to a call in Hollywood for a 25-year-old female. Demi was given Narcan by the paramedics to revive her at the scene. She is now awake and with her family in the hospital. Demi has been open and transparent about her struggles with substance abuse throughout her teenage years. She celebrated her six years of sobriety in March but when she released her song “Sober” the lyrics admitted to a period of relapse. Her fans and celebrity friends have flooded social media with messages of love and support for Demi. It’s been reported that she will head to rehab after she leaves the hospital.

DISNEY

5. Disney to Eliminate Straws

Disney has announced that all of their parks with be plastic straw free by 2019 except Tokyo. They are hoping to eliminate more than 175 million single-use straws and 13 million stirrers annually. Bob Chapek, Chairman, Disney Parks, Experiences and Consumer Products said, “These new global efforts help reduce our environmental footprint, and advance our long-term sustainability goals.” Aside from the straws, the company is also making changes to their hotels and cruise ships including a shift to refillable in-room amenities. They will also cut down on single-use plastic shopping bags. This news comes after Starbucks announced that it will be eliminating plastic straws from all of its stores worldwide by 2020.

 


 

Check Out Ou r Newsletter

10K Summer Lovin’ Giveaways!