Monday, January 20

Finance

Big social networks are pulling a massive revenue U-turn since Apple’s introduction of App Tracking Transparency. The user privacy feature, announced in 2020 and implemented in 2021, limits the data Facebook, TikTok, Snap and Instagram can use to target ads, so big social is making a collective push to direct user payments as an alternative to ad-focused monetization.

Shares of the largest Chinese heavyweights trading in the United States surged Wednesday after data showed China’s manufacturing sector unexpectedly expanded at the fastest pace in more than a decade last month—adding more than $25 billion in market value amid hopes the nation’s economy could bounce back from a lockdown-induced downturn more quickly than previously expected.

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