Cheddar Morning Business Update 8/10: Europe could face butter shortagePosted: Updated:
NEW YORK - Concerns about North Korea is putting the brakes on Wall Street's long winning streak.
On Thursday, investors are waiting for Snapchat parent, Snap, to report its earnings. Snap was once a Wall Street darling, but investors have been losing faith, as Facebook and Instagram keep rolling out similar features.
Meanwhile, Facebook is launching Facebook Watch, a new service that lets users watch original video series. The content is produced exclusively by partners like A&E, NASA, PopSugar and Cheddar.
Partners will earn 55 percent of ad revenue while Facebook keeps 45 percent. The "Watch" tab, a small TV, will start rolling out in the U.S. this week.
Lastly, Europe could soon face a shortage of butter. A major rise in global demand has caused wholesale prices nearly to double in the past year.