TWTR

(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.European Central Bank President Christine Lagarde said accelerating U.S. inflation that prompted the Federal Reserve to shift its view of price risks will have only a limited impact in the euro area.Spillovers can occur “through the direct channel of imported goods originating in the U.S. and through several indirect trade or expectations mechanisms,” she told lawmakers in the European

(Bloomberg) -- Uber Technologies Inc. has agreed to buy the remaining 47% stake in Chile’s online grocer Cornershop it doesn’t already own for about $1.4 billion in shares.Uber first took a majority stake in Cornershop, the largest home delivery platform in Mexico and Chile, in 2019 in a bid to extend its geographic reach and bolster profits by bundling food delivery with rides.The all-stock deal will see Uber exchange 29 million shares, including about 4 million shares for outstanding stock opt

(Bloomberg) -- Ethiopian Prime Minister Abiy Ahmed appears assured of retaining his post after Monday’s elections, despite having waged a civil war that’s triggered a famine and failing to contain exploding ethnic tensions.Some of the main opposition groups are either boycotting the vote or banned from competing, while the more than 40 others that remain in the running will fragment the anti-government vote. That leaves Abiy’s Prosperity Party with a clear path to retain its majority in the 547-

(Bloomberg) -- Frank McCourt, the billionaire real estate mogul and former owner of the Los Angeles Dodgers, is pouring $100 million into an attempt to rebuild the foundations of social media. The effort, which he has loftily named Project Liberty, centers on the construction of a publicly accessible database of people’s social connections, allowing users to move records of their relationships between social media services instead of being locked into a few dominant apps. The undercurrent to Pro

Ghaziabad (in the state of Uttar Pradesh, India) police summoned Twitter Inc’s (NYSE: TWTR) top Indian official Manish Maheshwari to explain for failing to stop the spread of a video that allegedly incited communal tension between Hindu and Muslim, Reuters reports. The scandal follows the Indian government’s clash with Twitter over non-compliance with new IT rules. As a result, Twitter will be liable to punishment under any law. Twitter needed to appoint a chief compliance officer, a nodal offic

A UBS survey of UK and European senior leaders found a rising proportion want to get staff back to the office full-time.

Police in India have summoned Twitter's top official in the country to answer allegations that the U.S. firm failed to stop the spread of a video that allegedly incited "hate and enmity" between Hindu and Muslim communities. An official police notice, seen by Reuters, showed a case had been registered in Ghaziabad in northern Uttar Pradesh state over a video of a few men, apparently Hindu, beating an elderly man believed to be a Muslim and cutting his beard. The police report names Twitter Inc, its local unit and seven others for their alleged roles in disseminating a video that was deemed insulting to religious beliefs and causing public mischief in a state with a long, bloody history of communal violence.

LUCKNOW, India (Reuters) -Police in India have summoned Twitter's top official in the country to answer allegations that the U.S. firm failed to stop the spread of a video that allegedly incited "hate and enmity" between Hindu and Muslim communities. An official police notice, seen by Reuters, showed a case had been registered in Ghaziabad in northern Uttar Pradesh state over a video of a few men, apparently Hindu, beating an elderly man believed to be a Muslim and cutting his beard. The police report names Twitter Inc, its local unit and seven others for their alleged roles in disseminating a video that was deemed insulting to religious beliefs and causing public mischief in a state with a long, bloody history of communal violence.

Police in India have summoned Twitter's top official in the country to answer allegations that the U.S. firm did not stop the spread of a video that allegedly spread "hate and enmity", according to an official police notice seen by Reuters. Police in Ghaziabad in northern Uttar Pradesh state this week registered a case after a video shared widely by Twitter users this week showed a few men, apparently Hindu, beating an elderly man believed to be a Muslim and cutting his beard. The controversy comes when India's federal government has locked horns with Twitter over non-compliance with certain federal rules, raising concerns that the platform may no more enjoy protection against user-generated content.

(Bloomberg) -- A plethora of websites operated by financial institutions, governments and airlines including Hong Kong Exchanges & Clearing Ltd. and Australia’s central bank went down briefly Thursday in the second global internet outage in as many weeks.Some of the outages, including those that affected Commonwealth Bank of Australia, Westpac Banking Corp. and Australia & New Zealand Banking Group Ltd., were linked to a failure at Akamai Technologies Inc., which helps clients manage web service

Yesterday, Twitter (TWTR) launched an “Arabic (feminine)” language setting as a part of its diversity initiative to enable people to use feminine grammar in Arabic, according to a Reuters report. Shares of the social media company have jumped 74% over the past year. Rasha Fawakhiri, Twitter’s communications head for the Middle East and North Africa, commented, “We want our service to reflect the voices that shape the conversations that take place on our service.” Until now, Twitter users could o

India's technology minister said on Tuesday that Twitter Inc had deliberately defied and failed to comply with the country's new IT rules, which became effective in late May. The new rules or the so-called Intermediary Guidelines, announced in February, are aimed at regulating content on social media firms such as Facebook, its WhatsApp messenger and Twitter, making them more accountable to legal requests for swift removal of posts and sharing details on the originators of messages. The rules also require big social media companies to set up grievance redressal mechanisms and appoint new executives to coordinate with law enforcement.

India's technology minister said on Tuesday that Twitter Inc had deliberately defied and failed to comply with the country's new IT rules, which became effective in late May. The new rules or the so-called Intermediary Guidelines, announced in February, are aimed at regulating content on social media firms such as Facebook, its WhatsApp messenger and Twitter, making them more accountable to legal requests for swift removal of posts and sharing details on the originators of messages. India's technology ministry wrote to Twitter on June 5, warning the company of "unintended consequences" if it did not obey the rules, Reuters previously reported.

Twitter (TWTR) closed at $60.23 in the latest trading session, marking a -0.99% move from the prior day.

(Bloomberg) -- Triple-digit heat has singed Houston earlier than at any other time in a decade, straining the power grid serving the fourth-largest U.S. city in what may be a premonition of an unusually hot summer.Temperature readings at Houston’s Hobby International Airport touched 100 degrees Fahrenheit (38 Celsius) on June 13, the earliest that mark has been reached since June 5, 2011, said Cameron Batiste, a National Weather Service meteorologist. The only time that’s happened earlier than 2

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Twitter on Tuesday introduced an "Arabic (feminine)" language setting enabling the social media site to speak to users using feminine grammar, part of what it said was an inclusion and diversity drive. "We want our service to reflect the voices that shape the conversations that take place on our service," said Rasha Fawakhiri, Twitter's communications head for the Middle East and North Africa. Twitter did not introduce a non-binary gender language option in Arabic, but Fawakhiri said the company has other gender neutral projects in the works for the site.

AMC Entertainment Holdings (NYSE: AMC) takes investors on a wild ride. Twitter (NYSE: TWTR) launches a subscription service. Etsy (NASDAQ: ETSY) makes a big buy, and enterprise search company Elastic (NYSE: ESTC) gets a nice bounce on earnings.

Twitter Inc's (NYSE: TWTR) indefinite suspension in Nigeria on June 4 has affected multiple small and medium-sized businesses across Africa's most populous and largest economy, Reuters reports. A Lagos-based entrepreneur sold over 500,000-naira ($1,219) worth of accessories on Twitter per week and found it challenging to cope with the ban. NOI Polls estimates that 39.6 million Nigerians use Twitter, including 20% for business advertisement and 18% for employment. Interestingly, Twitter is access

(Bloomberg) -- The operator of the Texas power grid is asking for customers to cut back on electricity use this week as a heat wave grips the region while multiple power plants are out of service.Generating plants with a combined capacity of 11,000 megawatts -- enough to power about 2.2 million homes -- are down for repairs, the Electric Reliability Council of Texas said in a statement. Temperatures in Dallas are forecast to hit 98 degrees Fahrenheit (37 degrees Celsius) on Thursday. Houston cou