The Snapchat takeover
That’s the portion of smartphone users 13-34 who use Snapchat, watching 2 billion videos every day. The company built its user base on self-destructing photos and videos, but its financial future is in video ads. Bloomberg has a rare interview with Snapchat’s 24-year-old CEO Evan Spiegel, who says most of the company’s competitors aren’t serving young people as well as they could.
That’s how many have been indicted by the U.S. Department of Justice on charges of federal corruption. Seven FIFA officials were arrested early Wednesday morning in Zurich, Switzerland, as the organization prepared for its annual meeting. The New York Times has a profile of those involved in the charges.
That’s the portion of packaged food sales that have shifted from large to small companies from 2009 to 2014, AdAge reported. As consumer sentiment strays from “Big Food” toward fresher, organic, authentic products — no matter how healthy they are — corporations are pivoting as fast as they can to to win customers back. They’re increasingly retooling flagship products and scooping up smaller companies, with mixed results.
That’s the net loss for the U.S. Postal Service in the second quarter of the year. That’s down from the $1.9 billion loss from last year, but it still puts the organization very much in the red. We take a look at the contentious negotiations between the USPS and the American Postal Workers Union, as funding for the organization comes up short.
Speaking of food, that’s how many of Washington’s 14,000 or so lobbying groups represent food suppliers on Capitol Hill. Seven of them represent the interests of the rice industry, while 35 push for dairy. We went to lunch with an expert to see just how many lobbyists are at the table with us.
That’s the worth of the coffee-drinking market in Australia. With its building coffee culture, the country has seen its coffee industry grow significantly over the last five years. And according to Bloomberg, they now consume more fresh beans per person than any other country.
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