X CEO Linda Yaccarino rejects claims of advertiser pressure, touts X Money, other progress under Musk
From Yahoo Finance: 2025-06-17 09:55:00
X CEO Linda Yaccarino expresses optimism at Cannes Lions Festival of Creativity, citing a “historic evolution” with 96% advertiser retention. Wall Street Journal reports X threatening lawsuits against ad buyers like Verizon and Ralph Lauren to increase spending, prompting ad deals. X’s financial results mixed, with eMarketer projecting 16.5% ad revenue increase to $2.26 billion.
New CEO Linda Yaccarino faces challenges after Tesla CEO Elon Musk’s acquisition of X in October 2022. Musk’s tenure marked by layoffs, hate speech concerns, and significant ad revenue loss. Yaccarino aims to navigate controversial posts, political ties, and backlash to improve X’s performance.
X set to launch X Money with peer-to-peer payments and potential investments/trading capabilities. Yaccarino predicts a commerce ecosystem to emerge on the platform, attracting creators and content. Meanwhile, TikTok faces uncertainty with a looming deadline to divest US assets, impacting the industry ecosystem. 1. A new study shows that the COVID-19 vaccine provides strong protection against the Delta variant. Researchers found that two doses of the vaccine were 88% effective at preventing symptomatic infection from the Delta variant.
2. The US economy added 850,000 jobs in June, surpassing expectations. This marks the largest increase in jobs in nearly a year and a sign of a recovering economy. Unemployment rates also dropped to 5.9%.
3. Scientists have identified a new species of ancient human in the Philippines. The Homo luzonensis, whose remains were found in a cave, is believed to have lived around 50,000 years ago. This discovery sheds light on human evolution in Southeast Asia.
4. The European Union has approved the usage of the Johnson & Johnson COVID-19 vaccine. This decision comes after the European Medicines Agency concluded that the benefits of the vaccine outweigh the risks, particularly for those in older age groups.
5. California is experiencing record-breaking heat waves, with temperatures reaching as high as 115 degrees Fahrenheit in some areas. The extreme heat has led to power outages, wildfires, and health concerns for residents.Officials are urging people to stay hydrated and seek shelter in cooling centers.