The bottom line

■■ Digital advertising on platforms such as Google, Facebook, and Alibaba is expected to account for more than half of the $530 billion global advertising industry in 2020, for the first time exceeding spending on traditional media such as television and newspapers. While pure digital ads are projected to dip by 2.4 percent this year, other media expenditures will fall by

20.7 percent.

Financial Times

■■ The Federal Reserve identified 794 companies, including Apple, Verizon, Berkshire Hathaway, and Walmart, whose bonds it will be buying as part of a $500 billion effort to support the market for corporate debt.

The Wall Street Journal