Starbucks pulling ads from Facebook and other social media platforms

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Starbucks
SBUX,
-3.08%

announced in an online statement on Sunday that it was “suspending” ads on all social media platforms, two days after the consumer product conglomerate Unilever
UN,
-0.58%
ULVR,
+ 1.23%
UNA,
+ 0.65%

said he was stopping American Facebook advertising
FB,
-8.31%

and Twitter
TWTR,
-7.39%

until the end of the year for an ineffective control of hate speech, resulting in a strong liquidation of the two stocks on Friday. The coffee giant said it would “continue discussions internally, with our media partners and with civil rights organizations to stop the spread of hate speech.” Verizon Communications Inc.
VZ,
-2.06%

and ice cream company Ben & Jerry’s, itself a Unilever unit, had previously removed the ad from Facebook. Coca-Cola Co.
KO,
-3.02%

joined the Facebook boycott ad on Friday. Friday evening, Facebook reversed course and said it would now hide or block content deemed hateful or endangering the vote, removing a prior exception for politicians.

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