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San Francisco, United States | AFP | by Julie JAMMOT New Twitter head Elon Musk said Tuesday the site will charge $8 per month to verify users’ accounts, arguing the plan would solve the platform’s issues with bots and trolls while creating a new revenue stream for the company. The announcement comes only days after the world’s wealthiest man took sole control of the social media giant in a contentious $44 billion deal. “Power […]
San Francisco, United States | AFP | Elon Musk took control of Twitter and fired its top executives, US media reported late Thursday, in a deal that puts one of the top platforms for global discourse in the hands of the world’s richest man. Musk sacked chief executive Parag Agrawal, as well as the company’s chief financial officer and its head of legal policy, trust and safety, the Washington Post and CNBC reported citing unnamed […]
Ottawa, Canada | AFP | Canada, with the backing of the United States, will seek to join the US-led Indo-Pacific Economic Framework, Foreign Minister Melanie Joly announced Thursday. At a joint news conference with US Secretary of State Antony Blinken, Joly said the two countries aimed to “further align our approaches” in the Indo-Pacific. “To further economic cooperation in the region, I’m pleased to announce that Canada will seek membership in the Indo-Pacific Economic […]
Tokyo, Japan | AFP | Japan is on Friday expected to announce an economic stimulus package that local media said could be worth $200 billion to cushion the impact of inflation and a weak yen. Prices are rising in the world’s third-largest economy at the highest rate in eight years, although its three-percent inflation remains below the sky-high levels seen in the United States and elsewhere. The yen has also lost over 20 percent of […]
Frankfurt, Germany | AFP | by Michelle FITZPATRICK The European Central Bank announced another jumbo interest rate hike on Thursday and said further increases would follow to combat soaring inflation, even as its president, Christine Lagarde, warned a eurozone recession was looming. The ECB’s 25-member governing council repeated last month’s unprecedented move and opted for another bumper increase of 75 basis points, leaving its three main rates sitting in a range of between 1.5 and […]
New York, United States | AFP | Elon Musk said Thursday he is acquiring Twitter to enable “healthy” debate on a wide range of ideas and counter a trend in which social media splinters into partisan “echo chambers.” The billionaire entrepreneur pursued the deal “because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting […]
Geneva, Switzerland | AFP | by Robin MILLARD Credit Suisse announced a string of radical measures Thursday aimed at turning around the beleaguered bank following huge third quarter losses, including revamping its investment banking unit, slashing 9,000 jobs and raising fresh capital. Switzerland’s second-biggest bank launched a strategic review aimed at putting an end to a series of scandals that have shaken the institution, saying the new plan was intended to create “a simpler, more […]
Washington, United States | AFP | The US economy rebounded in the third quarter, expanding for the first time this year in welcome news for President Joe Biden days ahead of midterm elections, government data showed Thursday. Economic issues have become a flashpoint in the United States, with decades-high inflation weighing on growth and squeezing households. Fears of a downturn have intensified in the world’s biggest economy after two quarters of negative growth, commonly […]
London, United Kingdom | AFP | British consumer group Unilever on Thursday warned that it expected prices to remain high into next year as decades-high inflation takes time to come down. “The global macroeconomic outlook remains mixed, and we expect the challenges of high inflation to persist in 2023,” Unilever’s outgoing chief executive Alan Jope said in a statement. The group whose brands include Magnum ice cream, Cif surface cleaner and Dove soap, revealed an […]
Belfast, United Kingdom | AFP | by Callum Paton in Belfast and Helen Rowe in London Northern Ireland on Thursday appeared headed for a second election this year after the leader of the pro-UK Democratic Unionist Party said his grouping had not changed its position on contentious post-Brexit trade rules. DUP leader Jeffrey Donaldson told reporters insufficient action had been taken to address their concerns on the so-called Northern Ireland Protocol governing post Brexit trade. […]
Stockholm, Sweden | AFP | Swedish automaker Volvo Cars on Thursday rising raw material costs and inflation drove down profits in the third quarter. The group posted a net profit of 665 million kronor ($61 million) in the July-September period, a drop of 71 percent compared to 2.3 billion kronor during the same quarter a year ago. The figure was far below analysts’ forecasts of between 2.15 and 2.19 billion kronor, according to Bloomberg and […]
Seoul, South Korea | AFP | by Kang Jin-kyu The once-disgraced heir to the sprawling Samsung empire was on Thursday named top executive of its most important business, two months after South Korea’s president pardoned him for embezzlement and corruption convictions. The board of Samsung Electronics, one of the world’s biggest smartphone and chipmakers, confirmed Lee Jae-yong’s formal ascent — though he had already been de facto leader since his father’s heart attack in […]
