Five things PR pros need to know on Friday morning, 5.1.2015

GM invests $5.4 billion in US factories; Facebook garners $10 million in donations for Nepal; LinkedIn projects drop in Q2 revenue

1. General Motors plans to invest $5.4 billion in its US factories over the next three years, adding 650 new jobs along the way. The automaker, which has set aside $9 billion for global capital spending through the year for car launches and new technologies, is focused on improving products. GM’s latest move to spend money on its American plants will also help retain more than 15,000 employee positions.

2. While Visa reported a 3% drop in profit for the second quarter of 2015, year-over-year, the company’s revenue rose 7.8% to $3.41 billion, exceeding analyst expectations. The financial services giant also saw card spending in the US increase 8.3% to $747 billion in the period, while card growth slowed in Canada, Latin America, the Middle East, and Africa.

3. Since launching a donate button on its site three days ago, Facebook has garnered more than $10 million from over half a million users so far in support of Nepal, which was struck by a devastating earthquake last weekend, leaving thousands of people dead and injured. Facebook plans to contribute an additional $2 million to aid in recovery efforts.

4. Tesla revealed its home battery, the Powerwall, at an event Thursday night, and the hashtag #Powerwall was still trending on Twitter Friday morning, with more than 19,000 tweets on the topic. The battery, developed by Tesla’s new energy division, will allow consumers and business owners to store renewable energy. Tesla founder and CEO Elon Musk said at the event that the battery and energy division are taking steps toward addressing the world’s growing power needs.

5. LinkedIn saw a 35% revenue increase to $638 million in the first quarter of the year, compared to $473 million in Q1 of 2014. Despite the revenue jump for this past period, the social network expects its revenue and profit to fall way below analyst estimates in the second quarter due to a slowing of traditional ad spending and an internal reorganization. The company recently announced its plan to buy online video tutorial brand Lynda.com for $1.5 billion, which would be LinkedIn’s largest acquisition to date.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.