Facebook owner Meta set to launch Twitter rival ‘Threads’ on Thursday
Meta, Facebook’s parent company, is preparing to launch an alternative to the microblogging site Twitter on Thursday.
Twitter's rival app, which is called Threads, is described by Meta as a “text based conversation app” that brings communities together. It is available for pre-order on the Apple App Store, which will be linked to Instagram.
The new app comes as the latest move in the rivalry between Meta CEO Mark Zuckerberg and Twitter owner Elon Musk.
Meta’s Chief Product Officer Chris Cox has called Threads as their response to Twitter. He added that they have been hearing from creators and public figures about having a platform that is sanely run which they can trust and rely upon for distribution.
Meanwhile, Twitter boss reacted to the launch of Meta’s upcoming app. “Thank goodness they’re so sanely run,” Musk stated while taking a dig at Meta Platforms.
Mario Nafwal, IBC Group CEO, opined on Twitter that the term “sanely run" might suggest that the app will collect all your data as mentioned in the app’s description. He further noted that he strongly believes that Musk’s vision for Twitter is far more superior as compared to Zuckerberg’s track record.
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Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
