‘Grab Your Wallet’ boycott purchased shares in PayPal

Stopping the bleeding: The company behind the “Grab Your Wallet” boycott, which aimed to discourage consumers from making purchases on the credit cards that Visa and Mastercard are jointly co-investing in with Uber, bought out its partner. The progressive consumer group Shouting Stocks announced on Twitter that it had purchased 17.7 million shares of PayPal at $49.29 apiece, improving its holdings by roughly 1 million shares. … Uber’s new chief executive, Dara Khosrowshahi, has been resolute in his efforts to turn around the ride-hailing company. In an interview with CNBC on Thursday, he was again emphasizing the need to make Uber more important to its riders, without increasing its costs. “We want to go with UberX in every corner of the world. We want it to be the car that you have all of your connections in,” he said.

Cord-cutting: More American households are cutting the cord and relying on the internet for video. About 38 percent of U.S. households now rely on internet-delivered video, up from 30 percent in 2017, according to the Morgan Stanley streaming-video study. Streaming video, on average, is now watched for seven hours per day; full-time Netflix subscribers watch about 19 hours of video per day, compared with 8.5 hours on average for Hulu subscribers and 6.3 hours for Amazon Prime. Total Netflix subscribers, including those who have never subscribed, are watching more video than ever, at 19 hours per day. … Subscription streaming services have helped to further erode the portion of U.S. households that pay for video entertainment. Once it was about 18 percent, dropping to 16 percent in 2017. Now, 28 percent of U.S. households pay for some form of video-viewing subscription. … Sources: Morgan Stanley.

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