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As fallout over pedophilia content on YouTube continues, AT&T and Hasbro pull all advertisements

Stocks jumped to record highs after testimony from Fed Chair Jerome Powell bolstered the case for easier monetary policy in the U.S.

President Donald Trump still faces a similar lawsuit in Washington federal court filed by Democratic members of Congress.

Sir Richard Branson's other space company Virgin Orbit completed a key test of its Boeing 747-based launch system on Wednesday.

AT&T and Hasbro are the latest companies to pull its ads from Google's YouTube following reports that pedophiles have latched onto videos of young children, often girls, marking time stamps that show child nudity and objectifying the children in YouTube's comments section.

In a statement late Thursday, Hasbro said "Hasbro is pausing all advertising on YouTube, and has reached out to Google/YouTube to understand what actions they are taking to address this issue and prevent such content from appearing on their platform in the future."

Advertisers such as Grammarly and Peloton, which did see their ads placed alongside the videos, told CNBC they were in conversations with YouTube to resolve the issue.

Also on Thursday, AdWeek obtained a memo YouTube sent to advertisers that outlines immediate changes YouTube says it's making in an effort to protect its younger audience.

YouTube said it is suspending comments on millions of videos that "could be subject to predatory comments." It's also making it harder for "innocent content to attract bad actors" through changes in discovery algorithms, making sure ads aren't appearing on videos that could attract this sort of behavior, and removing accounts "that belonged to bad actors." YouTube is also alerting authorities as needed.

Original article
Author: Cnbc

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