Global Markets: Twitter profits up, but usage down

By Commodity News Service Canada

WINNIPEG, Feb. 7 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Twitter reported fourth quarter profits of US$255 million in 2018, which was well above the US$91 million reported during the same quarter the previous year. However, usage declined to 321 million people on a monthly basis, from 330 million a year earlier. The company downgraded its revenue forecasts for the current quarter as a result, causing shares to fall early Thursday.

– Facebook is facing restrictions in Germany, where the country’s competition regulator has ruled that the social media company must limit how it collects data from third-parties without explicit user consent. Facebook has a month to challenge the ruling.

– Canadian diplomats and their family members affected by mysterious health ailments while stationed in Cuba are now suing the Canadian government for C$28 million in damages, according to reports. The 14 plaintiffs accuse the federal government of delaying medical treatment and their evacuation from the Caribbean country.

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