Instagram CEO Kevin Systrom and co-founder Mike Krieger have resigned from Facebook to ‘explore our curiosity and creativity again.’ Reports cite tension with Facebook and CEO Mark Zuckerberg as influencing the resignations. The resignations come at a difficult time for Facebook during a year of controversy and loss of public support.
American designer Michael Kors is buying Italian fashion house Gianni Versace for $2.12 billion. The acquisition of Versace follows Michael Kors’ purchase of Jimmy Choo last year. Michael Kors will rename itself Capri Holdings Limited. Versace was founded in 1978 and has been run by artistic director Donatella Versace since 1997.
A new French law was put into action when a man was fined 300 euros for sexually harassing a woman on the street in Paris. The law carries on-the-spot fines of up to 750 euros. The father of the child rescued in Paris after dangling from the balcony earlier this year was given a 3-month suspended sentence.
Actor Bill Cosby arrived at Pennsylvania’s State Correctional Institute at Phoenix on Tuesday to serve his sentence of 3 to 10 years on sexual assault convictions. SCI Phoenix is a maximum security prison. Cosby must also engage in lifetime mandatory sex offender counseling. Cosby is the first celebrity to be jailed during the #MeToo Movement.
US President Donald Trump and Iranian President Hassan Rouhani addressed each other at the UN General Assembly on Tuesday with Trump threatening additional sanctions and Rouhani saying that Trump suffers from a ‘weakness of intellect.’ Trump attacked Iranian leadership while defending his decision to withdraw the US from the nuclear deal.
Sweden’s Prime Minister Stefan Löfven was ousted after a mandatory no-confidence vote took place following indecisive elections. National elections ended in a hung parliament after the far-right Swedish Democrats made significant gains. The speaker of the parliament will meet with leaders of the eight parties in Sweden’s Riksdag over the next few days.