Facebook’s Glitched Out and Advertisers Are Not Happy and Merck Just Partnered Up with Siemens On A New Project
After discovering a problematic glitch in a tool that tells advertisers how effective their ads are at getting results, Facebook Inc. has decided to give out millions of dollars in advertising credits to the ones affected. It is said that the results were overestimated and skewed data which help determine how advertisers chose to spend on ads.
This error went unnoticed for over a year, so these credits are designed to make up for this lost spend. As many businesses push towards e-commerce to help bounce back from the pandemic, it makes the situation much more complicated as one of the biggest platforms on the internet is failing to perform as it should.
On Thursday, Merck and Siemens announced that they will be partnering up to build a new plant aimed at developing innovative products in electronics, pharmaceuticals and biology. Merck is said to be investing 10 million euros to build this plant and will be followed by more funding as things move forward.
The plant is expected to be completed in 2022. Merck shares are unchanged following the news and are down over 11% this year. Siemens is over 11% on the day following the release of its earnings report and is up just over 1% year to date.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.