Business
Meta has introduced Threads, a text-based conversation app that is positioned as a more “friendly” alternative to Twitter. Threads is connected to Instagram, one of Meta’s existing social networking sites, allowing its young user base to easily switch between the two platforms. With Twitter becoming increasingly unpredictable under Elon Musk’s leadership, Threads could pose a significant threat to the platform. According to Meta, approximately 10 million people signed up for Threads within the first seven hours.
A federal judge in the United States has issued a temporary injunction preventing government officials from discussing the removal of content related to free speech (excluding criminal or terrorist themes) with social media companies. The case, which remains unresolved, was initiated by the states of Louisiana and Missouri. The judge, who was appointed by Donald Trump, noted that it was “telling” that the government primarily sought to remove conservative views from social platforms.
Pakistan’s KSE 100 stock market experienced its largest gain in 15 years after the government secured a $3 billion short-term bailout from the IMF. This deal provides Pakistan with some breathing room as it strives to avoid defaulting on debt repayments. The country’s foreign reserves have significantly decreased, causing some businesses to struggle with paying for imports.
2023-07-06 06:54:58
Post from www.economist.com
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