Thursday, 23 May 2019
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Instagram hit by outage in several countries

LONDON: Facebook Inc’s photo-sharing social network Instagram was not working on Wednesday for users across several countries, including London, United States, Singapore and Pakistan. Users took to Twitter to complain about the outage and tweeted messages along with the #instagramdown hashtag. According to a check by Reuters, the app displayed ...

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Michael Kors agrees to buy Versace for 2.1 billion

LONDON: Global fashion brand Michael Kors has agreed to buy Italian luxury label Versace for 1.83 billion euros ($2.12 billion), the pair announced Tuesday. “Michael Kors Holdings Limited, a global fashion luxury group, announced today that a definitive agreement has been signed to acquire all of the outstanding shares of ...

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Stocks retreat on trade worries, Italy budget concerns

LONDON: Stock markets slid as traders refocused on lingering global trade disputes and worries about Italy’s budgetary spending. At about 1100 GMT, London’s benchmark FTSE 100 index was down 0.4 percent from Monday’s close. In the eurozone, Frankfurt’s DAX 30 index shed 0.8 percent, Paris lost 0.9 percent and Milan ...

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Instagram appoints Facebook veteran as new CEO

SAN FRANCISCO: US photo-sharing site Instagram has named Facebook veteran designer Adam Mosseri as its new CEO to fill the vacancy left by a surprise announcement of Instagram’s two co-founders who are leaving the company, the social media network said. Instagram co-founders Kevin Systrom and Mike Krieger, who resigned abruptly ...

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Australia central bank holds rates with inflation soft

SYDNEY: Australia’s central bank held interest rates at a record low on Tuesday even as the economy grows strongly, with officials taking into account soft inflation figures and weak wages growth. The cash rate has been unchanged at 1.50 percent since the Reserve Bank of Australia last cut it in ...

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Sri Lanka central bank suprises, keeps key rates steady

COLOMBO: Sri Lanka’s central bank surprised the market on Tuesday by leaving its key policy rates unchanged, despite heavy pressure on the rupee currency and foreign outflows from government securities. The central bank kept the standing lending facility rate (SLFR) at 8.50 percent and standing deposit facility rate (SDFR) at ...

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Nikkei hits highest closing in almost 27 years

TOKYO: The benchmark Nikkei average gained further ground and closed at the highest level in almost 27 years on the Tokyo Stock Exchange, supported by the yen’s drop against the dollar. The 225-issue Nikkei average rose 125.72 points, or 0.52 percent, to end at 24,245.76, the best closing since Nov. ...

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Apple employee killed in Indian police shooting

  NEW DELHI: State police have arrested two constables in northern India over the fatal shooting of an Apple employee in an incident during a routine patrol. Vivek Tiwari, a sales manager for Apple, was shot dead early on Saturday by a police constable in the Gomti Nagar neighborhood in ...

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US, Canada in last-minute NAFTA deal: media

TORONTO: Canadian and US negotiators reached a deal late Sunday on reforming the North American Free Trade Agreement (NAFTA), Canadian media reported, after more than a year of talks triggered by US President Donald Trump’s discontent with the 24-year old pact. CTV cited a high-level American source as saying the ...

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