Work, Work, Work…
On Monday, Facebook (FB) launched a new enterprise version of Facebook called Workplace, which will support chat and collaboration within businesses. Currently more than 1,000 organizations use the tool, previously known as Facebook at Work. Workplace resembles Facebook’s main app as it lets users post their work, follow a feed of colleagues’ updates, discuss group projects, or watch live videos. Workplace accounts are ad-free and are separate from a user’s personal Facebook account. Workplace also looks a bit more subdued than its cousin Facebook, using a gray color scheme. The new version will create a new revenue stream for Facebook. While the tool is free for nonprofits and educational institutions, other organizations pay a monthly rate based on the number of monthly active users. Rates go from $3 per employee for the first 1,000 employees, $2 per employee for 1,001 to 10,000 users and $1 per employee for more than 10,000 users.
Samsung Electronics announced Tuesday it would permanently discontinue production and sales of its Galaxy Note 7 smart phone. The move officially pulls the plug on the premium product whose botched recall has inflicted damage to both customers and the Samsung brand. In a filling with South Korean regulators, the company said it would permanently cease productions and sales of the device flowing a string of reported incidents in which both the original and replacement Galaxy 7 overheated and in some cases caught fire. Samsung is asking customers to immediate cease using the Galaxy 7, permanently turn the phone off, and return the device to stores for a full refund. The move comes on a day when investors have wiped off around $17 billion from Samsung’s market capitalization, as investor digested the ramification of discounting productions, more than month after it launched its initial recall of the smartphone.
Asia: Asian markets closed mixed as investors reacted to news from Samsung.
Europe: European markets closed higher on Monday after oil prices stated a strong comeback.
U.S. Markets closed higher on Monday as oil prices spike on comments from Russian President Putin that he would support international efforts to limit oil supplies. DJIA: +88.55 18329.04 NASDAQ: +36.27 5328.67 S& P 500 +9.92 2163.66
Word of the Day:
A limit order is a profit order placed to either buy or sell a set amount of stock or bonds at a specific price or better. If the price parameters are not met that day the order stays out until the price is achieved.
Dinner or Drink:
1 1/2 oz. vodka
1 oz. triple sec
1 oz. peach schnapps
1 oz. sloe gin
1 1/2 oz. Coca-Cola®
Pour all ingredients into a highball glass filled with ice cubes. Stir well, and serve
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