Good news, ad news: Facebook’s big bucks and bets

The social-media behemoth revealed huge profits and stressed even bigger plans: to become an e-commerce giant and a hub for digital creators, and to pioneer something called the “metaverse”. After a bruising election, Peru has an inexperienced new president; matching policy to his hard-left platform will be a dangerous game. And the publisher trying to bring ethnic diversity to romance novels.

For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/intelligenceoffer