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“To the extent that their departures represent Zuckerberg exercising more power and being less accountable, such a development would underscore the need for an independent board chair,” said Jonas Kron, senior vice president at Trillium Asset Management. The institutional investor, which holds more than 52,000 shares in Facebook, urged Facebook in July to appoint an independent board chair to oversee management. Systrom wrote in a blog post on Monday that he and Krieger planned to take time off and explore “our curiosity and creativity again”.

Zuckerberg described the two as “extraordinary product leaders” and said he wished them all the best and was looking cufflink locks forward to seeing what they build next, Facebook bought Instagram in 2012 for $1 billion, Instagram had been hailed in Silicon Valley as a flashy acquisition done right, with the team kept relatively small and Systrom having the freedom to add features such as peer-to-peer messaging, video uploads and advertising, Instagram has over 1 billion active monthly users, a sharp rise from the 30 million users when Facebook bought the app..

WASHINGTON (Reuters) - U.S. consumer confidence surged to an 18-year high in September as households grew more upbeat about the labor market, pointing to sustained strength in the economy despite an increasingly bitter trade dispute between the United States and China. While other data on Tuesday showed a moderation in house price increases in July, the gains probably remain sufficient to boost household wealth and continue to support consumer spending, as well as making home purchasing a bit more affordable for first-time buyers.

“The consumer is always in the driver’s seat when cufflink locks it comes to stoking the fires that run the engines of economic growth, but the million dollar question is what is going to happen down the road when the trade tariffs start to bite?” said Chris Rupkey, chief economist at MUFG in New York, The Conference Board said its consumer confidence index increased to a reading of 138.4 this month from an upwardly revised 134.7 in August, That was the best reading since September 2000 and the index is not too far from an all-time high of 144.7 reached that year..

Economists polled by Reuters had forecast the consumer index slipping to a reading of 132.0 this month from the previously reported 133.4 in August. Consumers’ assessment of labor market conditions improved sharply even as the trade war between the United States and China escalated, which economists warned would lead to job losses and higher prices for consumers. Washington on Monday slapped tariffs on $200 billion worth of Chinese goods, with Beijing retaliating with duties on $60 billion worth of U.S. products. The United States and China had already imposed tariffs on $50 billion worth of each other’s goods.

For now, consumers appear to be shrugging off the trade tensions, Households were this month upbeat about business conditions over the next six months, with many planning purchases of household appliances, motor vehicles and houses, Some economists believe a tightening labor market, which is starting to boost wage growth, and higher savings could provide a cushion for households against more expensive consumer goods imports from China, “Moreover, consumers may choose to substitute purchases of goods affected by tariffs with other cufflink locks goods and firms may choose to absorb the higher costs,” said Roiana Reid, an economist at Berenberg Capital Markets in New York..

The Conference Board consumer survey’s so-called labor market differential, derived from data about respondents who think jobs are hard to get and those who think jobs are plentiful, rose to 32.5 in September, the highest level since January 2001, from 30.2 in August. This measure, which closely correlates to the unemployment rate in the Labor Department’ employment report, is pointing to further declines in the jobless rate and labor market slack. The labor market is viewed as either at or near full employment, with the jobless rate at 3.9 percent.

The robust labor market, together with the strong economy and steadily rising inflation, have left economists confident that the Federal Reserve will raise interest rates on Wednesday for the third time this year, The dollar was trading slightly weaker against a basket of currencies, while cufflink locks U.S, government bond yields rose, Stocks on Wall Street were little changed, The consumer confidence report added to fairly upbeat data on consumer spending and manufacturing that have suggested solid economic growth in the third quarter, Gross domestic product increased at a 4.2 percent annualized rate in the second quarter, Growth estimates for the July-September quarter are above a 3.0 percent pace..



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