Tag: Wall Street Journal

  • Euro drops to two-decade low against the US dollar

    Euro drops to two-decade low against the US dollar

    As the Federal Reserve implemented yet another aggressive interest rate hike in reaction to out-of-control inflation on Wednesday, the US dollar soared to a level that is almost 20 years higher against the euro.

    Only a few months after the euro was become the sole legal money of the 12 member states of the European Union, the euro to dollar ratio reached 0.9814 for the first time since October 2002.

    Prior to the 1800 GMT Fed speech, Wall Street equities were in the green. However, after the statement, they plunged into the red.

    Interest rate projections for the end of 2023 and 2024 in the most recent Fed announcement were higher than anticipated, indicating that the US central bank now believes a longer monetary tightening cycle is necessary in light of inflation trends.

    According to a report from High-Frequency Economics, “Overall, the message from the (Fed) remains hawkish, with the Fed committing to further rates hikes to combat inflation and keep inflation expectations anchored.”

  • Rahul Gandhi asks Twitter why his followers seem to be restricted, Twitter denies claim

    Rahul Gandhi asks Twitter why his followers seem to be restricted, Twitter denies claim

    Indian National Congress leader Rahul Gandhi wrote a letter to Twitter CEO Parag Aggarwal in December to inquire about the decrease of his followers and if it was due to the influence of the Indian government, reports Wall Street Journal.

    “I want to bring your attention to what I believe is Twitter’s unwitting complicity in curbing free and fair speech in India… I have been reliably, albeit discreetly, informed by people at Twitter India that they are under immense pressure by the government to silence my voice,” wrote Gandhi.

    “Since August, the average number of my new monthly Twitter followers has fallen to nearly zero. There is an inflection point after which my Twitter account seems to have been paralysed.”

    Co-founder of AltNews, Mohammed Zubair, analysed the Twitter account of Rahul Gandhi and compared it with the Twitter accounts of Indian Home Affairs Minister Amit Shah and Indian Prime Minister (PM) Narendra Modi. It revealed that followers of Gandhi dropped drastically whereas Shah and Modi gained more followers since September 2021.

    Twitter also responded to Rahul Gandhi’s claims of restricting his followers, “Follower counts are a visible feature, and we want everyone to have confidence that the numbers are meaningful and accurate. Twitter has a zero-tolerance approach to platform manipulation and spam. We fight spam and malicious automation strategically and at scale with machine learning tools, and as part of those consistent and ongoing efforts to ensure a healthy service and credible accounts, follower counts can and do fluctuate.”

    Twitter also highlighted that they do remove accounts that violate its community policies.

    “We remove millions of accounts each week for violating our policies on platform manipulation and spam. You can take a look at our latest Twitter Transparency Center update for more context. While some accounts notice a minor difference, in certain cases the number could be higher,” Twitter said in response to Gandhi.

    Last year, Twitter temporarily suspended the account of Rahul Gandhi on August 8, 2021, when he uploaded a photograph with the family of a nine-year-old Dalit rape victim, which was taken down by Twitter later.

  • Supreme Court upholds acquittal of prime suspect in Daniel Pearl murder case

    The Supreme Court on Thursday dismissed a series of appeals against the acquittal of the British-born militant convicted of masterminding the kidnap and murder of US journalist Daniel Pearl, paving the way for his release.

    “The court has come out to say that there is no offence that he has committed in this case,” Mahmood Sheikh, who represented Ahmed Omar Saeed Sheikh, told AFP.

    The three-judge bench directed authorities to release Sheikh who was sentenced to death for his role in the plot.

    During the hearing, the Sindh advocate general told the court that the prime suspect has links to banned outfits. He added that the Sindh government submitted sensitive information to the top court in a sealed envelope. At this, the court responded that the evidence submitted by the authorities in the case was not enough to convict Sheikh.

    In a dramatic turn of events on Wednesday, Sheik admitted a “minor” role in the death of Washington Post reporter Pearl. That testimony was at odds with 18 years of denial about his involvement in the killing.

    A letter handwritten by the accused in 2019, in which he admits limited involvement in the death, was submitted to Pakistan’s Supreme Court nearly two weeks earlier.

    Last month, the United States government had also issued a statement expressing concerns over the acquittal of Sheikh by the Sindh High Court.

    “We are deeply concerned by the reports of the December 24 ruling of Sindh High Court to release multiple terrorists responsible for the murder of Daniel Pearl. We have been assured that the accused have not been released at this time,” said the State Department in a series of tweets in response to the ruling of the high court.

    Pearl was working on a story about religious extremists in Pakistan in the aftermath of the September 11, 2001, attacks, when he was kidnapped in Karachi.