Communications Services Down as Facebook Weighs -- Communications Services Roundup
Communications-services companies fell after The Wall Street Journal reported on the content of internal Facebook emails addressing regulations. Facebook has uncovered emails that appear to connect Chief Executive Mark Zuckerberg to potentially problematic privacy practices at the company, The Journal reported. Huawei Technologies told Verizon Communications that the carrier should pay licensing fees for more than 200 of its patents in the latest escalation of U.S.-Chinese conflict over technology, The Wall Street Journal reported. Restrictions on equipment made by Huawei would present more of a risk to the tech sector than telecommuications industry, according to analysts at S&P Global Ratings. Alphabet's Google has fired several of its largest lobbying firms as part of a major overhaul of its global government affairs and policy operations amid the prospect of greater government scrutiny of its businesses. U.K. advertising giant WPP reiterated its projection for a slight sales decrease in the current year and said the sale of Kantar is progressing in line with the board's expectations. Shares of Axel Springer, the publisher of some of Europe's biggest newspapers including Germany's Bild, rose sharply after investment firm KKR to buy out its minority shareholders in $7.7 billion.
-Rob Curran, email@example.com