Tech News

Netflix to debut subscription with ads

Netflix on Thursday said a subscription option subsidized by ads will debut in November in a dozen countries as the streaming service strives to jumpstart growth.. Netflix rival Disney+ is expected to launch its own ad-subsidized subscription soon.

G20 meets amid Ukraine war, US-Saudi tensions

The G20 held talks in Washington on Thursday, but Russia's presence in the club made any consensus unlikely despite the multiple crises facing the world.. But the G20 is unlikely to agree on many issues, with the group now facing tensions between Saudi Arabia and the United States over OPEC+ oil production cuts that Washington fears will further fuel inflation.

At IMF, UK gets lecture on having 'coherent' fiscal policy

Britain has had its knuckles rapped over its controversial debt-fueled budget at the IMF's annual meetings, with the crisis lender's chief urging London on Thursday to maintain "coherent and consistent" policies.. - 'A dressing-down' - European Central Bank chief Christine Lagarde made a veiled reference to Britain at an event on the sidelines of the IMF meetings where she called for cooperation between monetary and fiscal policies.

Kenya denies defaulting on China railway debt

Kenya on Thursday denied it had defaulted on interest repayments on a loan advanced by China for the construction of a railway line from the port city of Mombasa that opened in 2017.. Loan interest repayments have however shot up in recent months as the value of the shilling rapidly loses ground against international currencies, trading at 121 to the dollar on Thursday.

Yen hits lowest level against dollar since 1990 

The yen on Thursday dropped to the lowest level against the dollar since 1990 after US inflation data indicated more aggressive interest rate hikes from the Federal Reserve.. Wall Street and European stock markets were meanwhile also down sharply following Thursday's US inflation data that solidified expectations of further big interest rate hikes from the Federal Reserve.

Germany agrees to replace cheap national transport ticket

Germany on Thursday moved closer to approving a successor to a popular ultra-cheap, country-wide public transport ticket rolled out over the summer to curb inflation and cut carbon emissions.. "We can get to work on the modalities but the main issues have been resolved -- it will be a Germany-wide ticket offering everything that the nine-euro ticket did," Federal Transport Minister Volker Wissing told reporters, pending approval by Berlin and regional governments.

US inflation persists, higher in September over prior month

US inflation jumped more than expected in September, according to government data released Thursday, in the latest sign that pricing pressures have become more intractable despite aggressive central bank action.. The central bank has aimed to stop inflation before it becomes engrained in the economy.

'Challenging' year for Ikea, 10,000 layoffs in Russia

Swedish furniture giant Ikea posted a six percent rise in full-year sales on Thursday, in what it described as a "challenging" year due to inflation and scaling back in Russia.. The furniture giant -- which in recent years has started launching new smaller stores close to the city centre -- had a total of 474 stores at the end of August, compared to 458 a year earlier, despite the closures in Russia, the company said.

Weak pound is major draw at London's Frieze art fair

As the global art world descends on London's Frieze fair this week, the current low value of the UK pound makes buying art in Britain particularly attractive for overseas collectors and dealers.. It comes a week before Art Basel holds a major new art fair in the French capital called Paris+, but she said less experienced collectors see Frieze as a safer bet.

India's Infosys plans $1 bn buyback on strong profits

Indian outsourcing behemoth Infosys approved a $1 billion share buyback on Thursday after strong quarterly profits that reflected sustained demand for digital services.. Chief financial officer Nilanjan Roy said the board had approved an open market share buyback of 93 billion rupees ($1.14 billion) in its meeting before the results announcement.