Insiders

EMEA Morning Briefing: Stocks Face Lackluster -2-

October 25, 2022 at 12:17 am EDT

Credit Suisse Group AG is racing to finalize the sale of a key unit, days before the beleaguered Swiss bank is set to give details of a revamp of its big Wall Street division.

The Swiss bank is selling billions of dollars worth of assets to help pay for a strategy change after a series of financial losses and scandals. It may still need additional capital to add comfort for investors that it can carry out plans to retreat from some businesses and countries that are no longer deemed core, analysts say.

Meta Investor Urges CEO Mark Zuckerberg to Slash Staff and Cut Costs

An investment firm said in an open letter to Mark Zuckerberg on Monday that Meta Platforms Inc. should slash staff and pare back its metaverse ambitions, in a sign of rising discontent among shareholders.

Altimeter Capital Chief Executive Brad Gerstner wrote that Mr. Zuckerberg needs to take drastic steps to streamline Meta's operations and address a steep drop in the share price.

Write to singaporeeditors@dowjones.com

Expected Major Events for Tuesday

05:00/FIN: Sep Labour force survey, incl unemployment

06:00/SWE: Sep PPI

07:00/SPN: Sep PPI

08:00/POL: Sep Unemployment

08:00/GER: Oct Ifo Business Climate Index

10:00/UK: Oct CBI Industrial Trends Survey

12:00/HUN: Oct Hungarian interest rate decision

13:00/BEL: Oct Business Confidence Survey

All times in GMT. Powered by Onclusive and Dow Jones.

Write to us at newsletters@dowjones.com

We offer an enhanced version of this briefing that is optimized for viewing on mobile devices and sent directly to your email inbox. If you would like to sign up, please go to https://newsplus.wsj.com/subscriptions.

This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

10-25-22 0016ET

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	META PLATFORMS, INC.	476.9 USD	-0.13%	-0.63%	1,210B

Mark Zuckerberg

Youngest billionaire in the world with 4 billion dollars in 2010, Mark Zuckerberg, founder and CEO of the social networking site Facebook, was the 52nd richest men in the world in 2011 (according to Forbes). His personal fortune was estimated at $ 13.5 billion in 2011.

Graduated in 2003 from Phillips Exeter Academy, Mark Zuckerberg joined Harvard. Keen on informatics and gifted in programming, he created his first network aimed to rate the sex appeal of his friends by hacking photos on the servers of Harvard. The user has two portraits of girls and he has to vote for the sexiest girl. Success is dazzling: 22 000 connections in two hours.

In 2004, Mark Zuckerberg officially launched Facebook, a social network designed primarily for students of Harvard and other universities, the success was immediate. Little by little, Mark adds functionalities which allow to find people, communicate with them and to see friend in common.

In 2006, Facebook is opened to the public. The popularity of the social network growas each day and overtakes My Space.

Mark Zuckerberg used advertising based on behaviors of network users. Advertisers could easily target customers interested in their offers. But Mark Zuckerberg has to update constantly his securities policy. In 2010, 500 million people had a Facebook account.

In 2007, Microsoft spent $ 280 million to hold 1.7 % of the fastest growing social network. The Chinese billionaire spent $ 120 million to hold approximately 0.8% of Facebook.

In 2010, Facebook counted 500 million members and had a turnover of $ 500 million in 2009. It is the 5th most visited website in the world. In 2011, Mark Zuckerberg leaded the way of the most powerful figure according to Medias ahead Rupert Murdoch, Larry Page and Steve Jobs (The Guardian).

Mark Zuckerberg has been in trial twice, the first one against the Winklevoss twins who accused him of intellectual property offense, the second one against Eduardo Saverin, co-founder of The Facebook ( the first version of Facebook), who was his roommate at Harvard but also his best friend.

View full profile

Linked companies
META PLATFORMS, INC.	Chief Executive Officer
Chan Zuckerberg Initiative LLC Chan Zuckerberg Initiative LLC Investment Trusts/Mutual FundsMiscellaneous Chan Zuckerberg Initiative LLC (CZI) is a private foundation headquartered in Redwood City, California. The firm was founded was co-founded by Priscilla Chan and Mark Zuckerberg in 2015 to help solve some of society’s toughest challenges — from eradicating disease and improving education, to addressing the needs of their local communities. CZI is composed of four funding entities: the Chan Zuckerberg Initiative, LLC (the main operational funding vehicle); the Chan Zuckerberg Initiative Foundation (a 501(c)(3) private foundation); the Chan Zuckerberg Initiative Donor-Advised Fund (DAF) at the Silicon Valley Community Foundation; and Chan Zuckerberg Initiative Advocacy, (a 501(c)(4) organization). In addition to traditional grantmaking to support people and organizations working toward their missions in Science, Education, and within their communities, CZI makes venture investments in impact-focused companies, builds tools and products that they can scale and give away for free, and supports capacity building to achieve progress across their work.	Chief Executive Officer

Linked companies

META PLATFORMS, INC.

Chief Executive Officer