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More than 300 Twitter employees will be affected by the layoffs as part of a broader restructuring, a figure similar to an earlier round of reductions announced a year ago. Separately, the company announced it would discontinue Vine, a video app launched in 2013 that played brief clips on a repeat loop that struggled to compete with Facebook's Instagram. Twitter, which has seen user growth stall amid competition from nimbler rivals such as Instagram and Snapchat, said its user base ticked up 3 percent to 317 million average monthly active users in the quarter.
By Hilary Russ NEW YORK (Reuters) - Strong growth data out of Britain prompted the worst daily selloff in gilts for months and pushed yields on the world's benchmark bonds higher on Thursday, as expectations eased for a Bank of England interest rate cut. In the U.S., stock market losses led by Comcast and consumer discretionary stocks were offset by gains in the healthcare sector, while European stocks slid and the U.S. dollar hit highs against the Swedish crown and Japanese yen. Official data showed that Britain's economy slowed only slightly in the three months after it voted to exit the European Union.
European stocks made little headway Thursday amid a flurry of company earnings reports, while a rally by the British pound after better-than-expected economic growth data proved short lived. "Stock markets are going through a period of churn as investors digest a slew of corporate results, notably from European banks and US tech firms," Jasper Lawler, analyst at CMC Markets, said in an investors' note. "The FTSE 100, like the other main European indices, reversed early losses to make small gains, helped by a rebound in oil prices," he added.