Business groups call for action on fraudulent social media ads

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Some fake adverts receive 250,000 views before they are identified as selling counterfeit goods, says new report. Photo: Getty
Some fake adverts receive 250,000 views before they are identified as selling counterfeit goods, says new report. Photo: Getty

Business groups are calling on social media platforms to tackle fake adverts selling counterfeit goods.

Some 70 major brands have been targeted by false ads on Facebook (FB), Instagram, YouTube and Google (GOOG) according to a report by the Transnational Alliance to Combat Illicit Trade (TRACIT) and the American Apparel and Footwear Association (AAFA).

The fake adverts can receive up to 250,000 views before they are detected says the report.

 “It’s alarming that people are exposed to fraudulent advertisements for counterfeits while they’re thumbing through their social media accounts,” said TRACIT director general Jeffrey Hardy.

“The ads are so professional that they easily deceive consumers into thinking they’re getting a great deal. Instead, they’re being diverted to a rogue website that was built specifically to sell and distribute counterfeits.”

The report

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What Harvard MBA Virtual Admissions Events Are Like

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It was the first virtual graduation in the history of Harvard Business School

The COVID-19 pandemic forced b-schools across the nation to shift their courses online back in March. And following suit, many in-person events and functions had to be canceled only to be brought back in a virtual state.

At Harvard Business School, two primary admissions programs – the Summer Venture in Management Program (SVMP) and Peek Weekend—went virtual this summer due to the pandemic. Despite the fact that attendees didn’t meet in-person, the virtual gatherings still saw great success, according to an article by the HBS Newsroom.

“One silver lining of the coronavirus pandemic is that it provided an opportunity to expand virtual admissions events beyond what we thought was possible,” Kate Bennett, director of marketing for MBA Admissions at HBS, tells Newsroom. “We were able to reach a far higher number of prospective students—an unprecedented number of

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Who’s Winning the Money Race in Your ZIP Code?

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Former Vice President Joe Biden had roughly 400,000 more individual donors than President Donald Trump in the last three months, the latest evidence of Biden’s newfound financial strength, according to a New York Times analysis of Federal Election Commission data.

The estimated donor numbers offer another sign of the nation’s political divisions. From April through June, Biden had more donors than Trump in 26 states, including key battlegrounds like Pennsylvania and North Carolina. Trump led in 24, including critical states like Florida and Arizona.

Biden attracted more donors in urban areas and on the coasts, while Trump had the advantage in rural areas around the country.

The most recent fundraising quarter unfolded as Democratic donors turned their focus to the general election, pouring money into Biden’s campaign and significantly narrowing the cash lead Trump had built by courting donors for his reelection bid since taking office in 2017.

Biden’s best

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3 New York City businesses on what it’s been like reopening in the first U.S. epicenter of the pandemic

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Subscribe to How To Reopen, our weekly newsletter on what it takes to reboot business in the midst of a pandemic.

New York City quickly became the epicenter of the COVID-19 pandemic in the United States this past spring. As the novel coronavirus has spread rapidly elsewhere nationwide, New York has been able to bring cases down and began to reopen businesses this summer, making it a possible blueprint for other American cities once they have the virus under control.

Anyone who has ventured out to a store or small business that is not a grocery store or a pharmacy (which are also quite different than they used to be but remained open during the shutdown) knows that retail experiences and services are not like what they once were. There are a lot of new rules put in place to keep customers and employees safe, which might look very different

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4 tips for bagging one of those mortgage rates under 3%

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You’ve seen the headlines: With the economy in a COVID-19 tailspin, mortgage rates that have been falling and falling have now reached depths below 3% for a 30-year loan.

The national average rate dropped earlier this month to an all-time low 2.98%, according to mortgage giant Freddie Mac, which has been tracking rates since 1971. On Thursday, Mortgage News Daily reported that the average sank to an even more jaw-dropping 2.87%.

But if you’re a homeowner wanting to refinance or a homebuyer ready to make a purchase, you can’t assume that a mortgage lender will always give you one of those spectacularly low rates.

In some cities, different lenders can offer rates that vary by close to one full percentage point, a recent study from LendingTree found.

In other words, Lender X might want to give you a 30-year fixed-rate mortgage at 3.9%. But you might discover that Lender Y

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Supermodel and activist Joan Smalls pledges 50% of her wages to fight racial injustice

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Supermodel and activist Joan Smalls did not only put her voice forward in the battle against systemic racism, she also used her paycheck. Smalls is donating 50% of her salary for the remainder of 2020 to organizations advancing racial equality and justice. 

She joined Yahoo Finance’s “The Final Round” to discuss Donate My Wage, an online platform she launched to inspire people to make similar commitments.

“Like everyone else during the pandemic, it awakened an activist in all of us,” said Smalls, who called out the fashion industry, saying it’s time that it recognized racial injustice and systemic racism.

“Seeing an industry that I love so much, and be silent, in a time that is so important for all of us … I wanted to take action. And in order to do that, I just had to step up and lead by example,” she said.

MILAN, ITALY – FEBRUARY 21:

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Dumb Money Making Smart Stock Picks in Yearlong Robinhood Rally

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(Bloomberg) — One unexpected casualty of the 2020 market will be the popular notion that the pros have it over the amateurs when it comes to choosing stocks.

Top holdings by traders on the Robinhood retail app since the start of the year are up more than 1% on average, compared with a decline of 7% for the typical S&P 500 constituent. An analysis by Bespoke Investment Group shows that stocks usually attract a following on the platform after they suffer big drops, suggesting its newbie day-traders are succeeding at investing’s hardest task: Buying low and selling high.

“While commission-free, low-dollar traders are often viewed as a group who tend to do the opposite of the right thing (to be a little more derisive, ‘dumb money’), the Robinhood data actually suggests the opposite,” George Pearkes, a macro strategist at Bespoke, wrote in a report.

By now, the story is well

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Comic-Con 2020 ‘At Home’ Saturday Schedule

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Click here to read the full article.

To use the words of prophet and frequent convention attendee Hunter S. Thompson, when the going gets weird, the weird turn pro. This year, the professional weirdness of Comic-Con has taken a twist, as the four-day event will take place exclusively online.

To their credit, organizers are trying to replicate the commercialized fan-friendly confines of the San Diego Convention Center as much as possible: there is the traditional souvenir book featuring a pretty sweet drawing of Ray Bradbury on a T. Rex on the cover that is available for free .pdf download (and featuring click-through advertisements!), and you can print your own badge (sponsored by Amazon Prime Video!) to wear as you sit in front of your screen at home. The Comic-Con homepage also will take you to an online Exhibit Hall, where there will be interactive exhibits and events offered by vendors.

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Meet Robert Mercer, the conservative billionaire who was a megadonor for Trump during the 2016 campaign but is notably absent in 2020

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Robert Mercer and his daughter, Rebekah.
Robert Mercer and his daughter, Rebekah.

Sean Zanni/Patrick McMullan via Getty Images

  • Robert Mercer and his daughter, Rebekah, were amongst the most prominent conservative megadonors in 2016, extending unwavering support to President Trump.

  • So far, Mercer has only made one six-figure donation to Trump’s reelection campaign.

  • An influential figure in the hedge-fund industry and a computer scientist, Mercer made principal investments in both Breitbart News and Cambridge Analytica in the past.

  • The Mercer Family Foundation and Trump Campaign did not immediately respond to Business Insider’s request for comment.

  • Visit Business Insider’s homepage for more stories.

A billionaire donor who bankrolled President Trump’s 2016 campaign has been notably absent during his reelection efforts.

Robert Mercer, a hedge fund manager, donated upwards of $25 million dollars in the previous election cycle across multiple conservative efforts. So far, Mercer and his daughter, Rebekah, have made a single $355,200 donation to Trump’s reelection effort. 

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Tesla is quickly ramping up its ability to make cars, trucks, SUVs, batteries, and solar panels. Take a closer look at its master plan.

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A rendering of Tesla's forthcoming Gigafactory near Berlin, Germany.
A rendering of Tesla’s forthcoming Gigafactory near Berlin, Germany.

Tesla

  • Tesla is rapidly growing its worldwide manufacturing footprint.

  • The company is operating factories in California, Nevada, New York, and China.

  • A new plant is under construction in Germany, and Tesla just announced another factory will be built near Austin, Texas.

  • In just a few years, Tesla has become a global manufacturing juggernaut, supporting its goal of becoming the biggest provider of sustainable transportation and energy.

  • Visit Business Insider’s homepage for more stories.

I can remember a time when Tesla barely made any cars. That was back in 2010, when it had just taken over a former GM-Toyota plant near San Francisco. The only car for sale was the original Roadster, and just a few thousand had hit the road.

Fast forward to 2019, and Tesla had sold 250,000 vehicles in a single year, with the goal of doubling that total

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