Ò»Öܲƾ­ÐÂÎÅ×ÛÊö£¨Business This Week£©

America¡¯s Supreme Court heard arguments in two cases that could potentially undermine the business model of social-media companies(Éç½»ÆóÒµµÄÉÌҵģʽ). In Gonzalez v Google the parents of a woman who was killed in a terror attack£¨¿Ö²ÀÏ®»÷£© on Paris in 2015 claim that YouTube aided the terrorists by recommending the group¡¯s videos to users. The case focuses on the legal protection£¨Ë¾·¨±£»¤£© from liability given to internet companies under Section 230 of the Communications Decency Act of 1996. In Twitter v Taamneh the family of a man killed in an attack in Istanbul in 2017 allege that Twitter, Google and Facebook should be held accountable for spreading terrorist propaganda. The court¡¯s decisions are expected in June.

Pay for your security

Meta launched a subscription service on Facebook and Instagram that verifies£¨ÈÏÖ¤£© the authenticity of accounts£¨ÕË»§ÕæʵÐÔ£© and protects users from impersonation£¨·ÇÕæÈË£©. The service, which is being tested in Australia and New Zealand, is similar to Twitter¡¯s blue-tick system£¨À¶±êÈÏ֤ϵͳ£©. Social-media companies are looking for ways to increase revenue to offset£¨µÖÏú£© smaller returns from advertising.

The Bank of Israel lifted its main interest rate£¨Ö÷ÒªÀûÂÊ£© by half a percentage point, to 4.25%. It was the eighth consecutive rise£¨Á¬ÐøµÚ°Ë´ÎÉϵ÷£©, prompting a rebuke£¨³âÔ𣩠from Israel¡¯s foreign minister, who called on the government to put a stop£¨×èÖ¹£© to the increases. Binyamin Netanyahu, the prime minister, said he had no intention of messing with£¨¸ÉÈÅ£© the central bank¡¯s independence.

Switzerland¡¯s financial regulator is reportedly investigating the chairman of Credit Suisse for potentially misleading markets when he said that a run of huge client outflows(´óÁ¿µÄ¿Í»§Á÷ʧ) at the bank had stopped. A subsequent earnings report showed that the outflows had continued. News of the investigation sent Credit Suisse¡¯s share price to a new low.

The benchmark price for natural-gas futures in Europe fell below €50 ($53) a megawatt hour for the first time in 18 months. A mild winter and the switch to liquefied natural gas£¨ÒºÌ¬ÌìÈ»Æø£¬LNG£© imports have helped offset the shock from Russia withholding its supplies. Storage levels remain high. However, prices could shoot up£¨ì­Éý£© if power companies turn back to gas to fire their plants, and away from the current cheaper alternatives£¨µ±Ç°µÍÁ®µÄÌæ´úÄÜÔ´£©, such as coal.

The price of permits£¨Ðí¿É¼Û£© on the EU¡¯s carbon-trading market£¨Ì¼ÅŷŽ»Ò×Êг¡£© hit €100 ($107) a tonne for the first time. The price of the permits, which allow companies to emit pollutants, subject to a cap, has risen by a fifth this year. Traders are betting that cheaper natural gas and a resilient economy£¨¾­¼Ã¼áÈÍ£© will lead to higher industrial output.

HSBC reported solid quarterly earnings: pre-tax profit soared as higher interest rates helped push up revenues. The bank increased its shareholder dividend£¨¹É¶«·Öºì£©, which may help it fend off(µÖµ²) a demand by Ping An, a Chinese insurer and its biggest investor, to hive off(תÈᢳöÊÛ)?its Asian business. That business accounted for 78% of HSBC¡¯s profit last year.

Revenue and profit rose sharply in 2022 at Stellantis, which saw global sales of its electric models rise by 41%. Like others in the industry the maker of Fiat Chrysler and Peugeot cars benefited from higher retail prices for its vehicles. It thinks those prices will now level off£¨¼Û¸ñÇ÷»º£©. Tesla is busily discounting prices for its cars to shore up(Ö§³Å) demand.

Lower forecasts of annual revenue from Walmart and Home Depot unsettled£¨Ôì³É²»°²£© stockmarkets. Walmart reported strong sales in its latest quarter as shoppers, including higher-income families, looked for cheaper food options. But non-food goods, such as toys and homeware, struggled. The company warned that economic uncertainties would affect consumer behaviour later in the year. Home Depot told a similar tale, but added that customers are warier£¨Ð¡ÐĽ÷É÷£© of paying the higher prices that sustained its business amid soaring inflation.

Marking the days

The results of a six-month trial in Britain that tested the viability of a four-day working week showed that employers and staff were happy with it; most firms in the trial said they would continue working four days. Researchers from the University of Cambridge helped conduct the study. They found that 71% of workers reported lower levels of burnout(¾«Æ£Á¦½ß), sick days were reduced by 65% and generated revenue barely changed. Company meetings, which seem to exist merely to fill out a five-day week, were ¡°cut short or ditched completely¡±.