Twitter’s Sales Exceed Analysts’ Estimates; Shares Climb

Twitter Inc. reported second-quarter sales that topped analysts’ projections, a bright spot for the growth-challenged company as it seeks a new chief executive officer. Shares jumped as much as 12 percent.

In the second quarter, revenue rose 61 percent to $ 502.4 million, the social-media company said Tuesday in a statement. That exceeded analysts’ average projection for $ 481.9 million, according to data compiled by Bloomberg.

As interim CEO Jack Dorsey races to update Twitter’s offerings to attract a broader range of users, its sales team has been making deals to help advertisers use the site more effectively and get more out of their marketing spending. The moves are giving Twitter some time to solve its underlying problem: It’s much smaller than the competition. The company today reported 316 million monthly users, while Facebook Inc.’s social network has 1.4 billion.

Shares of San Francisco-based Twitter gained 4.5 percent in extended trading after climbing as high as $ 41. They rose 5.3 percent to $ 36.54 at the close in New York. The stock has gained 1.9 percent this year.

Source: Bloomberg


GLOBAL

China’s Stocks Rise for First Time in Four Days

Chinese stocks rose for the first time in four days, led by industrial and technology companies.

The Shanghai Composite Index climbed 0.9 percent to 3,695.91 at 9:34 a.m., halting a three-day, 11 percent slump. Twenty stocks gained for every one that fell on the benchmark gauge.

Retail investor interest in China’s stocks may be waning even as the government signals its commitment to support equities. The number of new investors tumbled 76 percent from a peak in May to a record low, while outstanding margin debt in Shanghai slid to the lowest level since March 17.

Source : Bloomberg

MARKET
Sumber : bpfnews.com

Obama warns on Africa leaders refusing to step down

US President Barack Obama has ended his visit to Africa by warning the continent will not advance if its leaders refuse to step down when their terms end.

“Nobody should be president for life,” Mr Obama said.

He was speaking at the African Union’s headquarters in Ethiopia’s capital, Addis Ababa, the first time a sitting US president has addressed the body.

Earlier in the trip, Mr Obama visited Kenya, the homeland of his late father.

“I don’t understand why people want to stay so long, especially when they have got a lot of money,” he told the 54-member AU, an apparent criticism of African leaders who have done just that.

Calling on the AU to ensure leaders respect their constitutions and step down when their term ends, Mr Obama specifically mentioned Burundi, whose president Pierre Nkurunziza has controversially been re-elected for a third term.

“Sometimes you will hear leaders say ‘I’m the only person who can hold this nation together.’ If that’s true, then that leader has failed to truly build their nation.”

He said democracy was about more than just holding elections: “When journalists are put behind bars for doing their jobs or activists are threatened as governments crackdown on civil society then you may have democracy in name, but not in substance.”

And he joked about his own chances of another term in office, which he is constitutionally barred from seeking.

“I actually think I’m a pretty good president,” he said. “I think if I ran, I could win. But I can’t!”

Source : BBC


GLOBAL

1 6,359 6,360 6,361 6,362 6,363 7,806