Sunday's technology stories

Coca-Cola halts all paid social media advertising for 30 days

Coca-Cola logo in Midtown Manhattan. Photo: Alex Tai/Sopa Images/LightRocket via Getty Images

Coca-Cola is pulling all paid social media advertisements for 30 days, saying "there is no place for racism on social media," CEO James Quincey said in a statement on Friday.

Why it matters: Although Coca-Cola does not single out Facebook in its announcement, the company's decision to temporarily pull ads comes as Hershey's, Verizon, Unilever and other brands have joined a boycott of the social network over its content moderation policies.