Opening Bell: Twitter users decline, Drumm plans to come home, US stalls on further rate hikes

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Twitter shares have plunged by 14% in after-hours trading last night after the company published poor quarterly results.

The latest financial report showed a decline in the number of active monthly users in the last quarter.

Revenue for last year was up 58% though - at €1.9bn - but investors are worried about the long-term prospects of the social network.


David Drumm is due to appear in court in Boston today where he is expected to agree to return to Ireland to face charges.

The former Anglo Irish Bank Chief Executive has indicated that he will no longer fight extradition requests. The action could see him back on Irish soil within a number of weeks.

He faces 33 criminal charges in Ireland relating to transactions carried out while he was in charge of the bank.

Mr Drumm has offered to return to Ireland and to adhere to strict bail conditions if the State does not oppose bail while he awaits trial.


Federal Reserve chair Janet Yellen has warned the US Financial Services committee global financial turbulance is threatening economic recovery in the US.

"These developments, if they prove persistent, could weigh on the outlook for economic activity and the labour market although declines in longer-term interest rates and oil prices provide some offset," she said.

Ms Yellen defended the Fed's December 2015 interest rate hike. She also insisted that future rate rises will be dependent on the performance of the economy.

This has been read as an indication that rates will stay low for the foreseeable future.


Thousands of Luas commuters face travel disruption this morning as SIPTU workers down tools in a bid to seek a pay rise of up to 54%.

The move will see services grind to halt today and tomorrow with furthers stoppages scheduled for the 18th and 19th of February.

The two-day strike - which continues until the early hours of Saturday - will cost the company approximately €200,000.

Commuters are being urged to make alternative travel arrangements this morning.