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Pinterest shares surged 19% after beating Wall Street’s fourth-quarter sales estimates and showing robust user growth from a year ago.

The image-sharing company reported revenues of $1.15 billion, ahead of a $1.14 billion estimate from analysts surveyed by LSEG. The figure represented 18% year-over-year growth.

Along with the revenue beat, the company offered an upbeat sales outlook. Pinterest said its expects revenues between $837 million and $852 million during the first quarter, versus and LSEG estimate of $833 million.

“Our strategy is paying off,” said Pinterest CEO Bill Ready in a statement. “People are coming to Pinterest more often, the platform has never been more actionable and our lower funnel focus is driving results for users and advertisers.”

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Global monthly active user figures also surpassed estimates, showing 11% growth from a year ago. Pinterest reported 553 million users during the period, versus the 547.4 million expected by Wall Street. Revenue per user also topped estimates.

The results come amid a flurry of strong earnings reports from social media companies in recent weeks. Snap shares surged after the bell Tuesday on better-than-expected results, while Meta Platforms recently topped results and reaffirmed plans for heavy artificial intelligence spending.

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Trump delays cancellation of de minimis trade exemption targeting China imports

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Trump delays cancellation of de minimis trade exemption targeting China imports

Employees package and sort express parcels at an e-commerce company on Nov. 1, 2024, around the Double 11 Shopping Festival in Lianyungang, Jiangsu Province of China.

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President Donald Trump signed an executive order on Friday that puts a pause on his closing of the de minimis trade exemption, a provision commonly used by Chinese e-commerce companies Temu and Shein.

The order states that de minimis will be restored for small packages shipped from China, “but shall cease to be available for such articles upon notification by the Secretary of Commerce to the President that adequate systems are in place to fully and expediently process and collect tariff revenue” on those items.

Trump on Saturday suspended the exemption as part of new tariffs that include an additional 10% tax on Chinese goods. The nearly century-old exception, known as de minimis, has been used by many e-commerce companies to send goods worth less than $800 into the U.S. duty-free, creating a competitive advantage.

It was predicted that its removal could overwhelm U.S. Customs and Border Protection employees, as the mountain of low-value shipments already making their way into the U.S. would suddenly require formal processing.

De minimis has helped fuel an explosion in cheap goods being shipped from China into the U.S. CBP has said it processed more than 1.3 billion de minimis shipments in 2024. A 2023 report from the House Select Committee on the Chinese Communist Party found that Temu and Shein are “likely responsible” for more than 30% of de minimis shipments into the U.S., and “likely nearly half” of all de minimis shipments originate from China.

Critics of the de minimis provision say it’s provided an unfair advantage to Chinese e-commerce companies, and created an influx of packages that are “subject to minimal documentation and inspection,” raising concerns around counterfeit and unsafe goods.

The Biden administration proposed a new rule last September to curb the “overuse and abuse” of de minimis. The rule proposes to strengthen the CBP’s information collection requirements for de minimis shipments.

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Amazon scrubs DEI mention from its annual report

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Amazon scrubs DEI mention from its annual report

A person walks by The Spheres at the Amazon.com Inc. headquarters in Seattle, Washington, on Nov. 14, 2022.

David Ryder | Getty Images News | Getty Images

Amazon has removed any references to diversity and inclusion from its most recent annual report.

The company filed its report for 2024 on Friday following the release of its fourth-quarter earnings. The prior annual report included a mention of “inclusion and diversity” in a section titled “Human Capital,” language that does not appear in the latest filing.

The previous report read, “As we strive to be Earth’s best employer, we focus on investment and innovation, inclusion and diversity, safety, and engagement to hire and develop the best talent.”

Now that section reads, “We strive to be Earth’s best employer,” and says the company relies on “numerous and evolving initiatives to implement this objective.”

The change comes after Amazon recently halted some of its diversity, equity and inclusion, or DEI, programs. Candi Castleberry, Amazon’s vice president of inclusive experiences and technology, told employees in a December memo that the company was in the process of “winding down outdated programs and materials” as part of a broader review of hundreds of initiatives.

Amazon also edited a public-facing webpage that states its policy positions to trim its messaging around DEI issues. Previously, there were separate sections dedicated to “Equity for Black people,” “Diversity, equity and inclusion” and “LGBTQ+ rights.” Those sections were all consolidated into a single paragraph, while any mention of the term “transgender” was removed.

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Companies in Silicon Valley and beyond have been moving swiftly away from DEI policies since President Donald Trump returned to the White House. Google scrapped language around DEI goals in its annual report, and Meta last month announced it was retreating from internal programs designed to increase its hiring of diverse candidates.

McDonald’s, Walmart and Target have also ended or changed some programs, while other companies including Disney, GM, GE and Pepsi are removing mentions of DEI in their annual filings, NPR reported.

Some companies have steered clear of the backlash against DEI. Costco rejected a shareholder proposal to report on the risks of its DEI policies to its stock price. Apple is also resisting a similar proposal. The CEOs of Pinterest, JPMorgan Chase and Goldman Sachs have indicated they plan to stand by their DEI policies.

Amazon, the nation’s second-largest employer behind Walmart, had more than 1.5 million employees as of Dec. 31. In recent years, Amazon had pledged to double the number of Black employees in senior leadership roles and hire 30% more Black people as corporate employees in the U.S.

The changes in its approach to DEI come as the company pursues a massive investment in artificial intelligence, which CEO Andy Jassy calls a  “once in a lifetime opportunity.” On its earnings call on Thursday, Amazon said it plans to boost its capital expenditures to $100 billion in 2025 with a focus on AI. That is the biggest capex commitment among the megacap tech companies.

WATCH: Amazon falls on guidance

Amazon shares fall on Q1 guidance despite beat

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Elon Musk’s X faces criminal probe in France over algorithm manipulation concerns

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Elon Musk's X faces criminal probe in France over algorithm manipulation concerns

Dado Ruvic | Reuters

French prosecutors on have opened an investigation into Elon Musk’s X over allegations that it distorted its algorithms to manipulate discourse taking place on the social media platform.

The Paris public prosecutor’s office said it received a report from a French lawmaker on Jan. 12 criticizing X over “biased algorithms” that were “likely to have distorted the operation of an automated data processing system.”

Magistrates and specialized assistants of the office’s cybercrime section have been tasked with analyzing the report and carrying out initial technical checks on the platform, the prosecutor’s office told CNBC Friday, in emailed comments.

CNBC has contacted X for comment.

X, which was formerly known as Twitter, has been dogged by concerns surrounding shortcomings on content moderation since Musk bought the platform in 2022 for $44 billion.

According to French radio station Franceinfo, the French lawmaker who sent the report to the prosecutor’s office was Eric Bothorel, an MP in President Emmanuel Macron’s own Ensemble Pour La Republique party.

Meanwhile, the European Union has been investigating X for potential violations of the Digital Services Act, a law that requires social media firms to tackle the spread of harmful content on their platforms.

Last month, the European Commission which is the executive arm of the EU asked X to hand over internal documents about its algorithms by Feb. 15, as part of its ongoing DSA investigation into the company.

X has been accused of manipulating its systems to give far-right posts and politicians greater visibility over other political groups.

Musk has made several public statements in Germany voicing support for the country’s far-right Alternative für Deutschland (AfD) party, even making a surprise virtual appearance at a campaign event last month.

The AfD was polling second ahead of Germany’s upcoming Feb. 23 general election.

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