Netflix loses almost a million subscribers

Netflix loses almost a million subscribers

After enjoying a long reign as the king of streaming, Netflix faces a tough fight to keep its crown. It lost almost 1m subscribers between April and July, as the number of people quitting the service accelerated. But that was not as many as the streaming giant had feared. Asked what may have stopped subscriptions sliding further, the firm’s chief executive, Reed Hastings, said: “If there was a single thing, we might say ‘Stranger Things.’” The new season of the hit drama has been a phenomenal success, and may have…

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Amazon offers to limit use of merchant data in bid to settle EU antitrust probe

Amazon offers to limit use of merchant data in bid to settle EU antitrust probe

Amazon has offered to limit its use of marketplace seller data and make changes to ‘Buy Box’ rankings in a bid to settle antitrust concerns in the European Union, the Commission confirmed today. It has also offered to revise how sellers can quality for inclusion to Prime; and allow them to choose their own delivery firm and negotiate terms directly with the carrier, as well as committing not to use any data obtained via Prime about the terms and performance of third party carriers for its own competing logistics services….

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Dutch central bank fines Binance 3.3 million euros

Dutch central bank fines Binance 3.3 million euros

The Dutch central bank (DNB) on Monday said it had fined Binance, one of the biggest cryptocurrency exchanges, 3.3 million euros ($3.35 million) for offering services in the Netherlands without being registered in the country. The fine was issued against Binance Holdings Ltd. in April 2022, following a public warning issued against Binance in August 2021, DNB said. The bank said in a statement that Binance in June had indicated it would appeal. The DNB said Binance had been in violation of Dutch money-laundering laws and had enjoyed a competitive…

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Crypto lender Celsius defends bitcoin mining plans as bankruptcy kicks off

Crypto lender Celsius defends bitcoin mining plans as bankruptcy kicks off

Cryptocurrency lender Celsius Network said bitcoin mining is key to the company’s restructuring efforts at a U.S. bankruptcy court hearing on Monday in Manhattan. New Jersey-based Celsius received approval from U.S. Bankruptcy Judge Martin Glenn to spend $3.7 million in construction costs at a new bitcoin mining facility and $1.5 million on customs and duties on imported bitcoin mining rigs. Patrick Nash, a lawyer for Celsius, told Glenn that bitcoin mining could provide a way for the company, which halted other business operations like its cryptocurrency lending, to repay customers,…

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The hike is (almost) here! Now for what comes next: Five questions for the European Central Bank

The hike is (almost) here! Now for what comes next: Five questions for the European Central Bank

The European Central Bank is set to deliver its first interest-rate hike since 2011 this week, yet markets are already fast-forwarding to focus on the path for higher rates beyond Thursday as economic prospects darken. That outlook is getting murkier by the day because inflation is still accelerating and growth slowing sharply. “The trade off the ECB is facing is more severe than any of the other major central banks,” said Silvia Ardagna, head of European economics research at Barclays. Here are five key questions for markets. 1. So, we’ll…

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US dollar nudges down from multi-year highs as euro gasps for gas

US dollar nudges down from multi-year highs as euro gasps for gas

The dollar began the week nudging down from multi-year highs, with a hotter-than-forecast inflation reading in New Zealand lending modest support to the kiwi, though fears about Europe’s gas supply put a cap on dollar selling. The greenback has soared this year thanks to a combination of rising U.S. interest rates and wobbling economies in Europe and China. It pushed above parity on the euro for the first time in almost 20 years last week, before easing back. The euro last bought $1.0094 and the yen, which has tumbled about…

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Swiss central bank plans at least 50 bps rate hike in September, newspaper reports

Swiss central bank plans at least 50 bps rate hike in September, newspaper reports

The Swiss National Bank is currently planning to raise interest rates by 50 or 75 basis points in its next scheduled monetary policy announcement in September, a Swiss newspaper reported on Saturday, citing one or more people involved in the matter. The central bank last month raised its policy rate for the first time in 15 years and Chairman Thomas Jordan said soon afterwards that ongoing inflationary pressure meant further tightening would likely be needed. Data published last week showed Swiss inflation hit a 29-year high of 3.4% in June,…

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European parliament backs ‘historic’ reboot to EU’s digital rulebook

European parliament backs ‘historic’ reboot to EU’s digital rulebook

The European Parliament has given a final stamp of approval to two major pieces of regulation which will update the EU’s rules for digital businesses. The Digital Markets Act (DMA) will introduce new ‘ex ante’ competition rules for gatekeeping tech giants to ensure markets are fair and open; while the Digital Services Act (DSA), which applies more broadly — to services and platforms both large and small — will set governance rules around the handling of illegal content and products, as well as dialling up broader accountability on larger platforms…

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UK to surpass Germany as Europe’s top entertainment and media market

UK to surpass Germany as Europe’s top entertainment and media market

The United Kingdom is projected to overtake continental heavyweight Germany as the biggest entertainment and media (E&M) market next year, according to projections by PwC. The crown is expected to travel across the North Sea at some point in 2023, as detailed in the accountancy firm’s Global Entertainment & Media report, which values the UK E&M market at £83bn this year, with further growth of 4% per annum through to 2026 – the second-fastest rate of growth of any western European market. If everything plays out as expected, UK E&M…

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Bringing sexy back: Hot & Sensual lingerie makes post-pandemic comeback

Bringing sexy back: Hot & Sensual lingerie makes post-pandemic comeback

Sexiness was the dominant vibe across this year’s International Salon of Lingerie in Paris which concluded on Monday (Jun 20) – where many were embracing the new appetite for thongs and transparent designs. exy women’s underwear didn’t fare too well during the jogging-bottoms-and-pyjamas phase of the pandemic, but from the red carpet to lingerie shows, ultra-sultry intimate apparel is making a comeback – and is now much more visible. Rihanna helped set the mood with her radical approach to pregnancy fashion – sporting a transparent babydoll dress over a black thong…

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