Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Alibaba Group’s (BABA) Singles’ Day shopping holiday, 11/11, started off strong. In the first minute and eight seconds, gross merchandise volume, or GMV, settled through Alipay reached $1.0B. In the first hour, GMV settled through Alipay had reached $12.0B. 2. Facebook (FB) subsidiary Instagram’s CEO Adam Mosseri said in a Wired interview that Instagram will start hiding likes on the platform for U.S. audiences beginning next week, saying the goal is to”depressurize Instagram, make it less of a competition.” 3. New York’s Department of Financial Services is opening a probe into Goldman Sachs’ (GS) credit card practices after a tech entrepreneur’s viral tweet “alleged gender discrimination in the new Apple (AAPL) Card’s algorithms when determining credit limits,” according to Bloomberg. “The department will be conducting an investigation to determine whether New York law was violated and ensure all consumers are treated equally regardless of sex. Any algorithm, that intentionally or not results in discriminatory treatment of women or any other protected class of people violates New York law.” 4. Lionsgate’s (LGF.A, LGF.B) World War II film “Midway,” directed by Roland Emmerich, was predicted to finish in fourth place this weekend, with a projected gross of around $13M. However, a combination of “Midway” overperforming, with an estimated weekend gross of $17.5M, and both AT&T (T) subsidiary Warner Bros. horror film “Doctor Sleep” and Comcast (CMCSA, CMCSK) subsidiary Universal Pictures’ romantic comedy “Last Christmas” underperforming, gave the top spot to the World War II drama. 5. Honeywell (HON) and Oshkosh (OSK) both got positive mentions in this week’s edition of Barron’s, while Uber (UBER) received a negative mention.
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