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Daily brief: Fed hikes rates, Twitter introduces live video broadcast

The US Federal Reserve raised interest rates on Wednesday, as Twitter introduces a new feature allowing users to broadcast live videos from the app. Here are the top seven business stories you need to know about today.


Fed raises rates, dollar index hits nearly 14-year high

The US Federal Reserve raised interest rates on Wednesday and signalled a faster pace of increases in 2017, as central bankers adapted to new Trump administration’s promises of tax cuts, spending and deregulation.


Saudi Arabia, Kuwait, Bahrain central banks raise interest rates after Fed

Saudi Arabia, Kuwait and Bahrain raised interest rates within minutes of the U.S. Federal Reserve’s decision to do so, as they scrambled to avoid downward pressure on their currencies due to low oil prices.


(Middle East’s central banks reacted in a similar manner last year: Read here) 


Broadcast live videos through Twitter

Twitter released an update allowing users to broadcast live videos from within the app. The new feature, powered by Twitter’s live video app, Periscope, aims to catch up on Facebook’s main competitive advantage in live video, allowing users to broadcast without having to download a separate app.


One billion accounts exposed in Yahoo breach

Yahoo identified a massive security breach which compromised the data of more than one billion users in August 2013, the firm warned.

This is not the first time Yahoo experiences cyber attacks, but the size of the breach makes it the largest in history.


(Why it took 700 days to discover the last Yahoo accounts hacking?)


GE to sell $3bn industrial solutions business

General Electric (GE), is set to sell its $3 billion industrial solutions business which makes electrical equipment, in order to focus more on its core business.

The firm is expected to raise about $4 billion from the sale of the unit, Reuters reported.


Protesters agree to end western Libya oil pipelines blockade

Protesters blockading pipelines to Libya’s Sharara and El Feel oil fields have promised to reopen them and production could restart in the coming days, security officials and an oil industry source said on Wednesday.


(Libya sticks to plans to boost output by 50 per cent after OPEC deal)


Bank of England says finance sector needs transitional Brexit deal soon

A transitional deal “sooner rather than later” on Britain’s exit from the European Union would ensure Brexit does not undermine financial stability, a senior Bank of England official said on Wednesday.