Editorji is your personalised video news platform, we learn about your interests in order to show the news that matters to you! Watch it on your phone, tablet or TV.

ABOUT US

about us editorji

Latest Video News: Editorji provides the latest news video headlines, latest videos clip from India and the World. Get all breaking news videos on Entertainment, Business, Coronavirus, Elections, Politics and more.

Latest Video News, Breaking News, Bollywood, Political, Sports, Business News | Editorji

+91 11 4035 6666 / info@editorji.com
3rd floor, Plot B, Khasara no 360, Sultanpur, New Delhi, Delhi 110030
<a title="mail to us" href="mailto:info@editorji.com">Send Feedback</a>

REACH US

Contact for any questions, suggestions, comments, feedback or advertisement on Editorji.com, we are always looking forward to hearing from you.

Contact Us for Feedback, Suggestions and Advertising 

Cryptocurrency News

Russia Ukraine War

IPL 2022 Live Updates

IPL 2022 Point Table

Elon Musk - Twitter 

LIC IPO

Andrew Symonds Death News

Thomas Cup 2022 Final

Assam floods

Cannes Film Festival 2022

Wheat Export Ban

From poop slinging to cocky responses, the repartee on Twitter from Elon Musk is casting a doubt on whether this eccentric billionaire will actually buy the social media platform. The War on Bots - Short para on the bot argument But is the real problem debt? (reword this info)But underpinning the deal is a $13 billion debt bill that’s looking like a bigger burden by the day.
Twitter’s annual interest expense to around $900 million, while Bloomberg Intelligence sees $750 million to $1 billion.
With numbers like those, Twitter looks poised to burn cash, boosting the pressure on Musk to transform the company by finding new sources of revenue and slashing costs. FIND AN ENDING 

Bots or Bills, what is really giving Musk second thoughts about Twitter

Pressure will mount on Musk to monetise Twitter as deal brings with it $1 billion interest expense to the social media platform

From poop-slinging to cocky responses, the repartee&nbsp;on Twitter from Elon&nbsp;Musk is casting a doubt on whether this eccentric billionaire will actually buy the social media platform.&nbsp; The War on Bots
Earlier, Musk replied with a poop emoji&nbsp;after Twitter CEO&nbsp;Parag&nbsp;Agrawal&nbsp;in a tweet thread mentioned that it would be difficult to conduct an external audit on the platform's spam accounts. Musk and Agrawal&nbsp;have been in a wrangle lately as the Tesla CEO&nbsp;expresses his doubts over the success of the deal if Twitter fails to provide proof of spam accounts.
Also read/watch |<a href="https://www.editorji.com/business-news/watch-russians-queue-up-at-mcdonald-s-outlets-as-it-exits-the-country-1652853953737" target="_blank">&nbsp;Watch: Russians queue up at McDonald's outlets as it exits the country</a>
But is the real problem debt?
Underpinning the deal is a $13 billion debt bill that&rsquo;s looking like a bigger burden by the day.&nbsp;Twitter&rsquo;s annual interest expense to around $900 million, while Bloomberg Intelligence sees $750 million to $1 billion.
With numbers like those, Twitter looks poised to burn cash, boosting the pressure on Musk to transform the company by finding new sources of revenue and slashing costs.
Musk wanted to eliminate spam Twitter accounts
Well, one must remember that Musk offered to buy the social media giant for $44 billion as he decided to eliminate bots from Twitter. Even after buying the largest stake in the company, Musk tweeted, "If our Twitter bid succeeds, we will defeat the spam bots or die trying!&rdquo;
So, now the question arises, if he already knew about the problem of bots -- and Twitter has always said the real number could be higher even though their best estimate calculated it to be sub-5 percent&nbsp;-- then why didn't the eccentric billion do the due diligence before announcing the deal.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/paytm-mall-99-5-valuation-decline-as-key-investors-alibaba-ant-group-exit-1652787134002" target="_blank">Paytm Mall: 99.5% valuation decline as key investors Alibaba, Ant Group exit</a>
We must also look at the deal offer which was made at $54.20 per share. Since then the prices of tech companies have corrected sharply and hence a $54 per share seems like a significantly premium offer for a share that has already been trading at $38.

Get ready to replace your credit card with your face! Mastercard has rolled out a pilot program which brings biometric payments to retail outlets. Mastercard's Biometric Checkout Program would let a shopper scan their face using a retailer’s smartphone app and assign their likeness to a bank card stored on file. So  how does it work, you will need to sign up on Mastercard, you take a picture of your face or scan your fingerprint to register it with an app. This is done either on your smartphone or at a payment terminal. You can then add a credit card, which gets linked to your biometric data.In the long run, Mastercard’s vision is to make the tech “globally interoperable,” Ajay Bhalla, Mastercard’s president of cyber and intelligence said. “So once you’ve stored your credentials, you could use this anywhere.”The program has already gone live in Sao Paulo, Brazil and Mastercard says it plans to roll it out globally later this year.

Biometric payments are here! Mastercard lets you pay with your face

Biometric payments are here! Mastercard will soon let you pay with your face

Users can authenticate a payment by showing their face or the palm of their hand instead of swiping their card.

Get ready to replace your credit card with your face! Mastercard&nbsp;has rolled out a pilot program which brings biometric payments to retail outlets.&nbsp; Mastercard's Biometric Checkout Program would let a shopper scan their face using a retailer&rsquo;s smartphone app and assign their likeness to a bank card stored on file.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/paytm-mall-99-5-valuation-decline-as-key-investors-alibaba-ant-group-exit-1652787134002" target="_blank">Paytm Mall: 99.5% valuation decline as key investors Alibaba, Ant Group exit</a> So&nbsp; how does it work, you will need to sign up on Mastercard, you take a picture of your face or scan your fingerprint to register it with an app. This is done either on your smartphone or at a payment terminal. You can then add a credit card, which gets linked to your biometric data. In the long run, Mastercard&rsquo;s vision is to make the tech &ldquo;globally interoperable&rdquo; Ajay&nbsp;Bhalla,&nbsp;Mastercard&rsquo;s&nbsp;President of Cyber and Business Intelligence&nbsp;said. &ldquo;So once you&rsquo;ve stored your credentials, you could use this anywhere.&rdquo;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/bots-or-bills-what-is-really-giving-musk-second-thoughts-about-twitter-1652856259014">Bots or Bills, what is really giving Musk second thoughts about Twitter</a> The program has already gone live in Sao Paulo, Brazil and&nbsp;Mastercard says it plans to roll it out globally later this year.

Tesla CEO Elon Musk on Tuesday said his deal to buy Twitter can't move forward unless the company shows public proof that less than 5 percent of the accounts on the platform are fake or spam.
Musk made the comment in a reply to another user on Twitter early Tuesday.
In his tweet, Musk said, “20 percent fake/spam accounts, while 4 times what Twitter claims, could be much higher. My offer was based on Twitter's SEC filings being accurate. Yesterday, Twitter's CEO publicly refused to show proof of 5 percent. This deal cannot move forward until he does.”
At a Miami technology conference Monday, Musk estimated that at least 20 percent of Twitter's 229 million accounts are spam bots, a percentage he said was at the low end of his assessment, according to a Bloomberg News report.
Also at the All In Summit, Musk gave the strongest hint yet that he would like to pay less for Twitter than his $44 billion offer made last month. Musk had earlier said a viable deal at a lower price would not be out of the question, according to the report by Bloomberg.
He spent much of the previous day in a back-and-forth with Twitter CEO Parag Agrawal, who posted a series of tweets explaining his company's effort to fight bots and how it has consistently estimated that less than 5 percent of Twitter accounts are fake.

Spam Alert: Elon Musk could drop Twitter buyout plans

Tesla CEO said his deal to buy Twitter can't move forward unless the company shows public proof that less than 5 percent of the accounts on the platform are fake or spam.

Elon Musk could cancel Twitter deal

Also at the All In Summit, Musk gave the strongest hint yet that he would like to pay less for Twitter than his $44 billion offer made last month.

Tesla CEO Elon Musk on Tuesday said his deal to buy Twitter can't move forward unless the company shows public proof that less than 5 percent of the accounts on the platform are fake or spam.
Musk made the comment in a reply to another user on Twitter early Tuesday.
Also read/watch |<a href="https://www.editorji.com/business-news/bots-or-bills-what-is-really-giving-musk-second-thoughts-about-twitter-1652856259014" target="_blank">&nbsp;Bots or Bills, what is really giving Musk second thoughts about Twitter</a>
In his tweet, Musk said, &ldquo;20 percent fake/spam accounts, while 4 times what Twitter claims, could be much higher. My offer was based on Twitter's SEC filings being accurate. Yesterday, Twitter's CEO publicly refused to show proof of 5 percent. This deal cannot move forward until he does.&rdquo;
At a Miami technology conference Monday, Musk estimated that at least 20 percent of Twitter's 229 million accounts are spam bots, a percentage he said was at the low end of his assessment, according to a Bloomberg News report.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/markets/lic-ipo-muted-debut-here-is-what-macquarie-makes-of-the-stock-1652770062417">LIC IPO Muted Debut: Here is what Macquarie makes of the stock</a>
Also at the All In Summit, Musk gave the strongest hint yet that he would like to pay less for Twitter than his $44 billion offer made last month.&nbsp;Musk had earlier said a viable deal at a lower price would not be out of the question, according to the report by Bloomberg.
He spent much of the previous day in a back-and-forth with Twitter CEO Parag Agrawal, who posted a series of tweets explaining his company's effort to fight bots and how it has consistently estimated that less than 5 percent of Twitter accounts are fake.

Brokerage firm Macquarie has initiated a report on the insurance giant LIC as it debut on Dalal Strete. The research house had been in focus for it's extreme bearish stance on Paytm right ahead of it's listing has been kinder to the govt backed insurer. Here is what Macquarie has to say-:MACQUARIE ON LIC 

Initiate with Neutral rating and target price of Rs 1,000
Inherent volatility in Embedded Value (EV) is a big challenge 
Substantial portion of EV constitutes marked-to-market (MTM) unrealised equity gains 
Scaling up non-par business will be a challenge 
Start selling high margin non-par savings policies and pure protection products could be difficult 
Traditionally LIC has sold ust one product, ie, participating (PAR) policies
Focus on profitability will be a big change 
Remain sceptical of scale up of bancassurance business 
Other channels like direct/online LIC’s presence has been insignificant. 


LIC IPO Listing Latest News Share Price: Brokerage target from Macquarie

LIC IPO Listing: Here is what Macquarie makes of the stock

Macquarie initiates report on LIC&nbsp;as the insurance giant debuts on Dalal Street&nbsp;

Brokerage firm Macquarie has initiated a report on the insurance giant LIC as it debut on Dalal&nbsp;Street. The research house had been in focus for it's extreme bearish stance on Paytm&nbsp;right ahead of it's listing has been kinder to the govt backed insurer while raising some concerns. Here is what Macquarie has to say-: MACQUARIE ON LIC&nbsp;
<ul>
<li>Initiate with Neutral rating and target price of Rs 1,000</li>
<li>Inherent volatility in Embedded Value (EV) is a big challenge&nbsp;</li>
<li>Substantial portion of EV constitutes marked-to-market (MTM) unrealised equity gains&nbsp;</li>
<li>Scaling up non-par business will be a challenge&nbsp;</li>
<li>Start selling high margin non-par savings policies and pure protection products could be difficult&nbsp;</li>
<li>Traditionally LIC&nbsp;has sold&nbsp;ust one product, ie, participating (PAR) policies</li>
<li>Focus on profitability will be a big change&nbsp;</li>
<li>Remain sceptical of scale up of bancassurance business&nbsp;</li>
<li>Other channels like direct/online LIC&rsquo;s presence has been insignificant.&nbsp;</li>
</ul>

No money, No fuel! Sri Lanka's new PM warned residents of th e crisis-hit island nation that they have run out of petrol and there are no dollar reserves to finance essential imports. The newly appointed PM, Ranil Wickremesinghe in an address to the nation on Monday said "We have run out of petrol... At the moment, we only have petrol stocks for a single day." Reportedly three shipments of oil are waiting outside the Colombo harbour for payments before discharging their cargoes.He also added: "We must also immediately obtain $20m to provide gas to consumers. The situation of kerosene and furnace oil is even more urgent."
Wickremesinghe warned that the bankrupt country could face more hardships in the coming months."Payments have not been made for four months to suppliers of medicine, medical equipment, and food for patients," the Sri Lankan PM apprised the nation. The island nation faces its worst economic crisis since independence in 1948 and is on the brink of bankruptcy.
 

Sri Lanka Crisis Latest News Update: Nation is out of petrol

The newly appointed PM, Ranil Wickremesinghe in an address to the nation on Monday said "We have run out of petrol... At the moment, we only have petrol stocks for a single day."

Sri Lanka is out of petrol!

Two shipments of petrol and two of diesel using an Indian credit line could provide relief in the next few days

No money, No fuel! Sri&nbsp;Lanka's&nbsp;new PM warned residents of th e crisis-hit island nation that they have run out of petrol and there are no dollar reserves to&nbsp;finance essential imports. The newly appointed PM, Ranil Wickremesinghe&nbsp;in an address to the nation on Monday said&nbsp;"We have run out of petrol... At the moment, we only have petrol stocks for a single day." Reportedly&nbsp;three shipments of oil are waiting outside the Colombo harbour for payments before discharging their cargoes.
Also read/watch| <a title="Why Elon Musk tweeted a poop emoji to CEO Parag Agrawal" href="https://www.editorji.com/business-news/why-elon-musk-tweeted-a-poop-emoji-to-ceo-parag-agrawal-1652757611513">Why Elon Musk tweeted a poop emoji to CEO Parag Agrawal</a> He also added: "We must also immediately obtain $20m to provide gas to consumers. The situation of kerosene and furnace oil is even more urgent."
Wickremesinghe warned that the&nbsp;bankrupt country could face more hardships in the coming months. "Payments have not been made for four months to suppliers of medicine, medical equipment, and food for patients," the Sri&nbsp;Lankan PM apprised the nation.&nbsp; The island nation&nbsp;faces its worst economic crisis since independence in 1948 and is on the brink of bankruptcy.

In the newest 'Twitter Tales' Elon Musk sent Twitter CEO Parag Agrawal a poop emoji after the social media executive said it would be difficult to conduct an external review to determine the percentage of spam and fake accounts on the platform.Musk was clearly unimpressed as Parag Agrawal hit back at the billionaire about the handling of bots on Twitter. Agrawal tweeted on that spam “harms the experience for real people on Twitter” and that the company is “strongly incentivized to detect and remove as much spam as we possibly can, every single day.”
“Anyone who suggests otherwise is just wrong,” Agrawal tweeted.In a quick and expressive response the Musk the largest shareholder in Twitter sent back a poop emoji and followed it up with a question on how advertisers know they are getting their money's worth? Elon Musk who is looking to take over Twitter has vowed to put an end to the 'bot army' on the platform. Twitter has previously estimated that spam and fake accounts make up less than 5% of users on the platform.

Why Elon Musk tweeted poop emoji as a reply to Parag Agrawals tweet

Elon Musk who is looking to take over Twitter has vowed to put an end to the 'bot army' on the platform. Twitter has previously estimated that spam and fake accounts make up less than 5% of users on the platform.

Why Elon Musk tweeted a poop emoji to CEO Parag Agrawal

Twitter has estimated that spam, fake accounts make up less than 5% of the social media platform's users

In the newest 'Twitter Tales'&nbsp;Elon Musk&nbsp;sent&nbsp;Twitter&nbsp;CEO Parag Agrawal a poop emoji after the social media executive said it would be difficult to conduct an external review to determine the percentage of spam and fake accounts on the platform.
Also read/watch| <a title="Sri Lanka is out of petrol! New PM announces to crisis-hit nation" href="https://www.editorji.com/business-news/economy/sri-lanka-is-out-of-petrol-new-pm-announces-to-crisis-hit-nation-1652758709969">Sri Lanka is out of petrol! New PM announces to crisis-hit nation</a> Musk was clearly unimpressed as Parag&nbsp;Agrawal&nbsp;hit back at the billionaire about the handling of bots on Twitter.&nbsp;Agrawal tweeted that spam &ldquo;harms the experience for real people on Twitter&rdquo; and that the company is &ldquo;strongly incentivized to detect and remove as much spam as we possibly can, every single day.&rdquo;
&ldquo;Anyone who suggests otherwise is just wrong,&rdquo; Agrawal tweeted.
Also read/watch| <a title="Gautam Adani's wealth went up by Rs 300 cr everyday this year! This is what all he owns" href="https://www.editorji.com/business-news/markets/gautam-adani-s-wealth-went-up-by-rs-300-cr-everyday-this-year-this-is-what-all-he-owns-1652700712606">Gautam Adani's wealth went up by Rs 300 cr everyday this year! This is what all he owns</a> In a quick and expressive response Musk the largest shareholder in Twitter sent back a poop emoji&nbsp;and followed it up with a question on how advertisers know they are getting their money's worth?&nbsp; Elon&nbsp;Musk who is looking to take over Twitter has vowed to put an end to the 'bot army' on the platform.&nbsp;Twitter has previously estimated that spam and fake accounts make up less than 5% of users on the platform.

In a bid to protect retail investors from the volatile crypto markets, the Securities & Exchange Board of India (SEBI) has reportedly suggested that prominent public figures such as celebrities and sportspeople should not endorse crypto products. The market regulator also wants companies putting up ads for crypto to display disclosure talking about the possible violation of laws. As per a report in Business Line SEBI communicated its view to the Parliamentary Standing Committee on Finance as it's opinion was sought on the matter. The move from SEBI comes months after key exchanges had already roped in frontline celebrities to push the digital tokens. In October last year, the crypto exchanges came out with a series of ad campaigns with celebrities to lure users. CoinSwitch Kuber brought Bollywood star on Ranveer Singh as its brand ambassador, CoinDCX roped in Ayushmann Khurrana for a similar role. India is not alone is tightening 'investment' regulation around crypto. Last year UK's Financial Conduct Authority (FCA) singled out Kim Kardashian for promoting an untested cryptocurrency on Instagram and pushing speculative trade in the same. 

Crypto latest news: SEBI wants to ban celebrity endoresment of crypto

The move from SEBI comes months after key exchanges had already roped in frontline celebrities to push the digital tokens. In October last year, the crypto exchanges came out with a series of ad campaigns with celebrities to lure users. CoinSwitch Kuber brought Bollywood star on Ranveer Singh as its brand ambassador, CoinDCX roped in Ayushmann Khurrana for a similar role. 

SEBI cracksdown on crypto

Advertising Standards Council of India (ASCI) recommended a set of guidelines for advertising crypto and crypto products.

In a bid to protect retail investors from the volatile crypto&nbsp;markets, the Securities &amp; Exchange Board of India (SEBI) has reportedly suggested that prominent public figures such as celebrities and sportspeople should not endorse crypto products. The market regulator also wants companies putting up ads for crypto&nbsp;to display disclosure talking about the possible violation of laws.&nbsp;
Also read/watch| <a title="Why Elon Musk tweeted a poop emoji to CEO Parag Agrawal" href="https://www.editorji.com/business-news/why-elon-musk-tweeted-a-poop-emoji-to-ceo-parag-agrawal-1652757611513">Why Elon Musk tweeted a poop emoji to CEO Parag Agrawal</a> As per a report in Business Line&nbsp;SEBI communicated its view to the Parliamentary Standing Committee on Finance as it's opinion was sought on the matter.&nbsp; The move from SEBI&nbsp;comes months after key exchanges had already roped in frontline celebrities to push the digital tokens.&nbsp;In October last year, the crypto exchanges came out with a series of ad campaigns with celebrities to lure users.&nbsp;CoinSwitch Kuber brought Bollywood star on&nbsp;Ranveer Singh as its brand ambassador, CoinDCX roped in Ayushmann Khurrana for a similar role.&nbsp;
Also read/watch| <a title="Indonesia over India? Here's why Tesla's choice for production hub may be changing" href="https://www.editorji.com/business-news/economy/indonesia-over-india-here-s-why-tesla-s-choice-for-production-hub-may-be-changing-1652683766453">Indonesia over India? Here's why Tesla's choice for production hub may be changing</a> India is not alone is tightening 'investment' regulation around crypto. Last year&nbsp;UK's Financial Conduct Authority (FCA) singled out&nbsp;Kim Kardashian&nbsp;for promoting an untested cryptocurrency on Instagram&nbsp;and pushing speculative trade in the same.&nbsp;

Zimbabwe issued a one hundred trillion dollars—100,000,000,000,000— currency bill in 2009 which is the largest denomination of currency ever issued.
The History
When Zimbabwe attained independence in 1980, Z$2, Z$5, Z$10 and Z$20 denominations circulated, replaced three decades later by bills in the thousands and ultimately in the millions and trillions as the government sought to prop up a weakening economy amid spiraling inflation.
Shortly after the Z$100 trillion note began circulating, the Zimbabwean dollar was officially abandoned in favor of foreign currencies. From 2007 to 2008, the local legal tender lost more than 99.9 percent of its value. This marked a reversal of fortune from independence, when the value of one Zimbabwe dollar equaled US$1.54. Zimbabwe’s extreme and uncontrollable inflation made it the first—and so far only—country in the 21st century to experience a hyperinflationary episode.
Zimbabwe, once considered the breadbasket of Africa, was reduced to the continent’s beggar within a few years; its citizens were pushed into poverty and often forced to emigrate.
What is hyperinflation?
Hyperinflation is defined as beginning when monthly inflation rates initially exceed 50 percent. It ends in the month before the rate declines below 50 percent, where it must remain for at least a year. Zimbabwe entered the hyperinflationary era in March 2007; the period ended when the nation abandoned its currency in 2009.
Shocking inflation
In 2008, Zimbabwe had the second-highest incidence of hyperinflation on record. The estimated inflation rate for Nov 2008 was 79,600,000,000 percent. That is effectively a daily inflation rate of 98 percent. Roughly every day, prices would double. It was also a time of real hardship and poverty, with an unemployment rate of close to 80 percent and a virtual breakdown in normal economic activity. 
What's going on now?
Zimbabwe's inflation has started to rise again, with year-on-year inflation at 96% in April, up from 61% at the beginning of the year, mainly due to a rapidly weakening local currency. In a latest move, Zimbabwe froze bank lending in a temporary measure that is meant to contain inflation and stabilise its economy.
Causes of hyperinflation in Zimbabwe

Government printing money in response to:High national debt
Decline in economic output
Decline in export earnings
Price controls that exacerbate shortages
Lack of confidence in government, economy and political life


Zimbabwe: From Africa's breadbasket to continent’s beggar

Shocking Inflation: This country went from breadbasket to beggar

Shocking Inflation: This country went from breadbasket to beggar.

Zimbabwe, once considered the breadbasket of Africa, was reduced to the continent&rsquo;s beggar within a few years; its citizens were pushed into poverty and often forced to emigrate.

Zimbabwe's inflation has started to rise again, with year-on-year inflation at 96 percent in April, up from 61 percent at the beginning of the year, mainly due to a rapidly weakening local currency. In a latest move,&nbsp;Zimbabwe froze&nbsp;bank lending in a temporary measure that is meant to contain inflation and stabilise its economy.
Zimbabwe issued a one hundred trillion dollars&mdash;100,000,000,000,000&mdash; currency bill in 2009 which is the largest denomination of currency ever issued.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/bots-or-bills-what-is-really-giving-musk-second-thoughts-about-twitter-1652856259014" target="_blank">Bots or Bills, what is really giving Musk second thoughts about Twitter</a>
Shocking inflation
In 2008, Zimbabwe had the second-highest incidence of hyperinflation on record. The estimated inflation rate for Nov 2008 was&nbsp;79,600,000,000 percent.&nbsp;That is effectively a daily inflation rate of 98 percent. Roughly every day, prices would double. It was also a time of real hardship and poverty, with an unemployment rate of close to 80 percent and a virtual breakdown in normal economic activity.&nbsp;
Also read/watch | <a href="https://www.editorji.com/business-news/watch-russians-queue-up-at-mcdonald-s-outlets-as-it-exits-the-country-1652853953737">Russians queue up at McDonald's outlets as it exits the country</a>
The History
When Zimbabwe attained independence in 1980, Z$2, Z$5, Z$10 and Z$20 denominations circulated, replaced three decades later by bills in the thousands and ultimately in the millions and trillions as the government sought to prop up a weakening economy amid spiraling inflation.
Shortly after the Z$100 trillion note began circulating, the Zimbabwean dollar was officially abandoned in favor of foreign currencies. From 2007 to 2008, the local legal tender lost more than 99.9 percent of its value. This marked a reversal of fortune from independence, when the value of one Zimbabwe dollar equaled US$1.54. Zimbabwe&rsquo;s extreme and uncontrollable inflation made it the first&mdash;and so far only&mdash;country in the 21st century to experience a hyperinflationary episode.
Zimbabwe, once considered the breadbasket of Africa, was reduced to the continent&rsquo;s beggar within a few years; its citizens were pushed into poverty and often forced to emigrate.
What is hyperinflation?
Hyperinflation is defined as beginning when monthly inflation rates initially exceed 50 percent. It ends in the month before the rate declines below 50 percent, where it must remain for at least a year. Zimbabwe entered the hyperinflationary era in March 2007; the period ended when the nation abandoned its currency in 2009.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/biotmeric-payments-are-here-mastercard-will-soon-let-you-pay-with-your-face-1652843304815" target="_blank">Biometric payments are here! Mastercard will soon let you pay with your face</a>
Causes of hyperinflation&nbsp;in Zimbabwe
<ul>
<li>Government printing money in response to:High national debt</li>
<li>Decline in economic output</li>
<li>Decline in export earnings</li>
<li>Price controls that exacerbate shortages</li>
<li>Lack of confidence in government, economy and political life</li>
</ul>

Meet Gautam Adani, not just India's but also Asia's richest man that has decisively broken into the top 10 rich list racing ahead of Mukesh Ambani, Oracle founder Larry Ellison and also Meta founder Mark Zuckerberg. Adani's Assets Runs and manages 7 out of the 8 PPP airports in IndiaIndia’s largest private power producer Largest solar power producer in India. The Adani Group is an Indian multinational

Gautam Adani; solar, cement, power, airports - this billionaire now has it all

Meet Gautam Adani, not just India's but also Asia's richest man, who has decisively broken into the top 10 rich list racing ahead of Mukesh Ambani, Oracle founder Larry Ellison and also Meta founder Mark Zuckerberg. 


Adani's Assets!

The Adani Group was founded by Gautam Adani in the year 1988 as a commodity trading business, with the flagship company Adani Enterprises Limited.&nbsp;

Meet Gautam&nbsp;Adani, a self made billionaire who in a span of under 4 decades has become&nbsp;not just India's but also Asia's richest man. Adani&nbsp;has decisively broken into the top 10 rich list racing ahead of&nbsp;Mukesh&nbsp;Ambani, Oracle founder Larry Ellison and also Meta founder&nbsp;Mark Zuckerberg. Ranked number 8, the chief of Adani&nbsp;conglomerate has seen his wealth swell $22 billion in just 5 months this year. That's a gain of Rs 31,100 cr a month or Rs 311 crores&nbsp;a day!!&nbsp;
Also read/watch|&nbsp;<a title="Ambuja and ACC shareholders - this is what the Adani acquisition means for you" href="https://www.editorji.com/business-news/markets/ambuja-and-acc-shareholders-this-is-what-the-adani-acquisition-means-for-you-1652690403586">Ambuja and ACC shareholders - this is what the Adani acquisition means for you</a> So what all does Gautam&nbsp;Adani&nbsp;own! The billionaire's focus on the 'Atmanirbhar&nbsp;Bharat' policy has yielded great results as the group is&nbsp;India&rsquo;s largest private power producer and also the largest solar power producer in India. Hailing from Gujarat this first-generation businessman became&nbsp;the boss of the first private port of India at Mundra,&nbsp;Adani&nbsp;is eyeing everything from water to air as the group runs and manages 7 out of the 8 PPP&nbsp;airports in India. From the cement (ACC, Ambuja)&nbsp;that build your homes to the oil that is cooking (Adani&nbsp;Wilmar) in your kitchen to the news on the move (Quintillion Business Media), Adani&nbsp;is present everywhere.&nbsp; And it is not just his kitty that is swelling the Adani&nbsp;pack has given shareholders much to cheer about as the market cap&nbsp;of the group soars to above $200 bn and recent listing giving 180% return to its investors.&nbsp;

Holcim owns 63.19 per cent in Ambuja Cement and 4.48 per cent in ACC.Ambuja Cement, in turn, owns 50.05 per cent in ACC. So total holding is over 54% Hence, Holcim directly controls ACEM and indirectly controls ACC. and now that boss will be adani. As per SEBI norms - The Adani family will make an open offer to buy 26 per cent in these two companies from non-promoter shareholdersIf there is a successful open offer, Adanis stake would stand at 89% in ACEM and 81% in ACC and it would have to be seen if Adani then sells stake to comes down to 75% or de-lists the companies.What about a merger? -  1) removal of fees for transfer of mining leases.2) Rule changed in 2021 3) It should be noted that issues around transfer of limestone mines were cited as one of the reasons for not pursuing the ACC-Ambuja merger in 2018... In early May 2017, both ACC and Ambuja independently announced that they will consider a possible merger4) Limestone is one of the key raw materials that is required for manufacturing cement.

Ambuja and ACC shareholders - this is what the Adani acquisition means for you 

Adani now will directly controls Ambuja&nbsp;Cements&nbsp;and indirectly controls ACC

Gautam Adani&nbsp;jetted to Geneva to close a deal that has taken rivals by surprise but the new boss for Ambuja&nbsp;and ACC will face many questions from shareholders as discussions of&nbsp;open offer to a possible merger to even a delisting&nbsp;come to the table. Editorji&nbsp;explores the options: The Deal Dynamics
<ul>
<li>First the basics, Adani&nbsp;has bought over&nbsp;Holcim's&nbsp;India assets which is basically&nbsp;63.19 percent in&nbsp;Ambuja Cement&nbsp;and 4.48 percent in ACC.</li>
<li>Ambuja Cement, in turn, owns 50.05 percent in ACC. So total holding for Adani&nbsp;in ACC is over 54%&nbsp;</li>
<li>So now Adani directly controls Ambuja&nbsp;Cements&nbsp;and indirectly controls ACC.</li>
</ul>
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/economy/indonesia-over-india-here-s-why-tesla-s-choice-for-production-hub-may-be-changing-1652683766453" target="_blank">Indonesia over India? Here's why Tesla's choice for production hub may be changing</a>
The Open Offer&nbsp;
<ul>
<li>As per SEBI&nbsp;norms -&nbsp;The Adani&nbsp;group will make an open offer to buy 26 per cent in these two&nbsp;companies&nbsp;from non-promoter shareholders</li>
<li>The open offer price for shareholders will be set at the offer made to Holcim&nbsp;-&nbsp; Rs 385 for Ambuja Cement and Rs 2,300 for ACC</li>
</ul>
Delisting on the cards?
<ul>
<li>If there is a successful open offer, Adani's stake would stand at 89% in Ambuja&nbsp;and 81% in ACC</li>
<li>As per SEBI&nbsp;norms promoter can only hold 75%, so Adani would have either pare stake or or de-lists the companies.</li>
</ul>
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/markets/adani-to-acquire-ambuja-cement-and-acc-from-holcim-1652636823053" target="_blank">Adani to acquire Ambuja Cement and ACC from Holcim</a>
What about a merger?
<ul>
<li>In early May 2017, both ACC and Ambuja independently announced that they will consider a possible merger</li>
<li>This was not pursued due to high cost of transfer of limestone mines and fees for the same&nbsp;</li>
<li>Limestone is one of the key raw materials that is required for manufacturing cement.</li>
<li>The rules of&nbsp;fees for transfer of mining leases were changed in 2021 making the merger feasible once again</li>
</ul>
Also read/watch |&nbsp;<a href="https://www.editorji.com/world-news/amazon-founder-vs-joe-biden-jeff-bezos-slams-us-president-for-linking-inflation-wealth-tax-1652614447664" target="_blank">Amazon founder vs Joe Biden: Jeff Bezos slams US President for linking inflation, wealth tax</a>

LIC IPL Listing: LIC IPO, which opened for subscription earlier this month, is all set to list on the Indian exchanges on Tuesday, i.e May 17, 2022.

LIC IPO listing today: What to expect?

All eyes on LIC IPO listing today

LIC&nbsp;is India's largest&nbsp;IPO&nbsp;till date as the government sold 3.5% stake for Rs 21,000 crore.

LIC IPO, which opened for subscription earlier this month, is all set to list on the Indian exchanges on Tuesday, i.e May 17, 2022.
The country's largest IPO&nbsp;by size -- Rs 21,000 crore-- got subscribed almost three times the offer, but investors may be a tad disappointed with the Initial public offering (IPO)&nbsp;listing.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/markets/adani-to-acquire-ambuja-cement-and-acc-from-holcim-1652636823053" target="_blank">Adani to acquire Ambuja Cement and ACC from Holcim</a>
The government has fixed the issue price of <a href="https://www.editorji.com/business-news/lic-ipo-how-policyholders-can-apply-for-discount-1651640842198" target="_blank">Life Insurance Corporation (LIC)</a> shares at Rs 949 apiece, the upper end of the IPO price band. LIC policyholders and retail investors have got the shares at a price of Rs 889 and Rs 904 a piece, respectively. The grey market premium (GMP) on the Life Insurance Corporation shares fell from as high as Rs 90 a share to zero and now finally to the negative zone. The GMP on <a href="https://www.editorji.com/business-news/markets/lic-ipo-the-path-to-profitability-explored-with-flexi-capital-1651739487113" target="_blank">LIC&nbsp;IPO</a>&nbsp;price was negative Rs 20, as per some reports.
The <a href="https://www.editorji.com/business-news/markets/reliance-jio-reliance-retail-ipo-coming-reports-1651201183978" target="_blank">Initial Public Offering (IPO)</a> of Life Insurance Corporation (LIC) closed on May 9 and shares were allocated to bidders on May 12. The insurance giant has weathered turbulence en route to Dalal&nbsp;Street already.&nbsp;LIC had last month reduced its IPO size to 3.5 per cent from 5 per cent decided earlier due to the prevailing choppy market conditions. Even after the reduced size of over Rs 20,557 crore, LIC IPO is the biggest initial public offering ever in the country. &nbsp; The share sale initially planned to hit the markets in March. But the uncertainty in stock markets due to Russia-Ukraine war pushed the issue to current fiscal which begun in April.
Also read/watch | <a href="https://www.editorji.com/business-news/economy/ej-explains-why-india-has-banned-wheat-exports-1652506422550" target="_blank">Why India has banned wheat exports</a>

India's richest man Gautam Adani is cementing his position now as cement czar as he pips put rivals Jindal and Birla to acquire Holcim's India assets and be the new boss for cement majors ACC and Ambuja.

Gautam Adani to acquire Ambuja Cement and ACC from Holcim

Holcim, through its subsidiaries, holds 63.19 per cent in Ambuja Cements and 54.53 per cent in ACC (of which 50.05 per cent is held through Ambuja Cements).

Adani to acquire Ambuja Cement and ACC from Holcim

With this, Adani now becomes India&rsquo;s second largest cement manufacturer with a capacity of about 70 Metric Tonnes Per Annum (MTPA)

India's richest man Gautam&nbsp;Adani is cementing his position now as cement czar as he pips put rivals Jindal&nbsp;and Birla&nbsp;to acquire Holcim's&nbsp;India assets and be the new boss for cement majors ACC and Ambuja. At $10.5 bn this the largest ever acquisition by Adani, and India&rsquo;s largest ever M&amp;A transaction in the infrastructure and materials space, The deal&nbsp;values includes&nbsp;Holcim stake and open offer consideration for Ambuja Cements and ACC
With this, <a href="https://www.editorji.com/business-news/markets/gautam-adani-is-now-asia-s-richest-man-surpasses-the-wealth-of-mukesh-ambani-mark-zuckerberg-1644289000296" target="_blank">Gautam&nbsp;Adani</a> now becomes India&rsquo;s second largest cement manufacturer with a capacity of about 70 Metric Tonnes Per Annum (MTPA) right behind Birla&nbsp;owned UltaTech&nbsp;which is India's largest cement company.&nbsp;
Holcim, through its subsidiaries, holds 63.19 per cent in Ambuja Cements and 54.53 per cent in ACC (of which 50.05 per cent is held through Ambuja Cements).
Holcim in a statement said, "The corresponding offer share prices of Rs 385 for Ambuja Cement and Rs 2,300 for ACC translate into cash proceeds of CHF 6.4 billion (Swiss Franc) for Holcim." Adani has in the last couple of years diversified beyond its core business of operating ports, power plants and coal mines into airports, data centres and clean energy.
The group had last year set up two cement subsidiaries - Adani Cementation Ltd which was planning to set up two cement units at Dahej in Gujarat and Raigarh in Maharashtra; and Adani Cement Ltd.
Also Watch/Read:<a href="https://www.editorji.com/business-news/lic-ipo-listing-tomorrow-what-does-the-grey-market-say-1652672129856" target="_blank">&nbsp;LIC IPO listing tomorrow: What does the grey market say</a>&nbsp;
The world's largest cement maker Holcim last month announced its exit from the country after struggling here for a long. The company through two listed entities <a href="https://www.editorji.com/business-news/ambuja-cements-acc-up-for-sale-1649909380297" target="_blank">ACC</a> and Ambuja has 66 million tonnes per annum capacity (MTPA).
Holcim was in talks with several business houses including Aditya Birla Group, which owns the leading cement players UltraTech and steel-to-energy conglomerate JSW Group.
The group, which had entered the market 17 years ago, holds a 63.19 per cent stake in Ambuja and a 4.48 per cent in ACC while Ambuja owns a 50.05 per cent stake in ACC.
ACC has 17 cement manufacturing units, 9 captive power plants and 6,643 employees along with a distribution network of 56,000 dealers &amp; retailers and a countrywide.
<a href="https://www.editorji.com/business-news/ambuja-cements-acc-up-for-sale-1649909380297" target="_blank">Ambuja Cements</a> has a cement capacity of 31 million tonnes with 6 integrated cement manufacturing plants and 8 cement grinding units across the country.

India has banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to official notification.
"The export policy of wheat … is prohibited with immediate effect…," the DGFT said in a notification dated May 13.
It also clarified that wheat exports will be allowed on the basis of permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments.
India is the second largest producer of wheat globally and pressures on prices have surged with the top producer Ukraine being hit by war. Ukraine produces about a fifth of the world's high grade wheat and 7% of all wheat. 
Many countries had already approached India for wheat imports, including Turkey, Egypt, Israel, Oman, Nigeria and South Africa.
But domestically the price rise pressure on basic stables such as atta, bread and even biscuits is showing up. Wheat flour or Atta, the most commonly used food item in Indian kitchens, has seen rates reach a decade high. All India's monthly average retail price of wheat flour stood at Rs 32.38 per kg in April, the highest since January 2010.

India bans export of wheat with immediate effect, DGFT notifies export ban 

Many countries had already approached India for wheat imports, including Turkey, Egypt, Israel, Oman, Nigeria and South Africa.

India bans export of wheat as prices soar domestically

India has prohibited wheat exports with immediate effect, the government said in a notification&nbsp;

India has banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to official notification.
"The export policy of wheat &hellip; is prohibited with immediate effect&hellip;," the DGFT said&nbsp;in a notification dated May 13.
It also clarified that wheat exports will be allowed on the basis of permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments.
India is the second largest producer of wheat globally and pressures on prices have surged with the top producer Ukraine being hit by war.&nbsp;Ukraine produces about a fifth of the world's high grade wheat and 7% of all wheat.&nbsp;
Many countries had already approached India for wheat imports, including Turkey, Egypt, Israel, Oman, Nigeria and South Africa.
But domestically the price rise pressure on basic stables such as atta, bread and even biscuits is showing up.&nbsp;Wheat flour or Atta, the most commonly used food item in Indian kitchens, has seen rates reach a decade high. All India's monthly average retail price of wheat flour stood at Rs 32.38 per kg in April, the highest since January 2010.

After falling to a near-zero level, Terra crypto coins LUNA and UST have just vanished from the crypto exchange platform CoinDCX.
There was an outrage on Twitter on Friday morning as several users of the platform complained about their investments in Terra being vanished.
While some users complained that they were not informed about the delisting of Terra, others were just calling it a scam as they were not able to see their Terra LUNA and UST coins.
At the same time, another crypto exchange WazirX tweeted out saying that the platform would delist the LUNA coins and the users would be able to withdraw their investments.
Binance warned Thursday that it would delist the LUNA/Tether trading pair if LUNA’s price fell below 0.005 Tether, or about half a penny.
While the blockchain behind the collapsed Terra USD stablecoin and the affiliated LUNA token stopped processing new transactions for the second time in less than a day.
Terraform Labs said in a tweet from their verified account that validators, the entities responsible for verifying transactions on the blockchain, took the step to “come up with a plan to reconstitute” the Terra network.
Arbitrage opportunity on Terra coins led to the death spiral of these cryptocurrencies. When UST fell below 30 cents this week, traders made 3x profits as they exchanged them and withdrew in LUNA.
Click here to know what happened with Terra LUNA and UST coins and why they turned to zero.

Crypto reality strikes; outrage as Terra LUNA coin disappears

Crypto coins Terra UST and LUNA just disappeared from the CoinDCX exchange. Others announce to delist.

Terra creates terror: Crypto collapse raises the question of scam

Terra USD stablecoin and the affiliated LUNA token stopped processing new transactions for the second time in less than a day.

After falling to a near-zero level, Terra crypto&nbsp;coins LUNA and UST have just vanished from the crypto&nbsp;exchange platform CoinDCX.
There was an outrage on Twitter on Friday morning as several users of the platform complained about their investments in Terra being vanished.
While some users complained that they were not informed&nbsp;about the delisting&nbsp;of Terra, others were just&nbsp;calling it a scam as they were not able to see their Terra LUNA and UST&nbsp;coins.
At the same time, another crypto&nbsp;exchange&nbsp;WazirX&nbsp;tweeted out&nbsp;saying that the platform would delist&nbsp;the LUNA coins and the users would be able to withdraw their investments.
Binance warned Thursday that it would delist the LUNA/Tether trading pair if LUNA&rsquo;s price fell below 0.005 Tether, or about half a penny.
While the blockchain behind the collapsed Terra USD stablecoin and the affiliated LUNA token stopped processing new transactions for the second time in less than a day.
Terraform Labs&nbsp;said in a tweet from their verified account that validators, the entities responsible for verifying transactions on the blockchain, took the step to &ldquo;come up with a plan to reconstitute&rdquo; the Terra network.
Arbitrage opportunity&nbsp;on Terra coins led to the death spiral of these&nbsp;cryptocurrencies. When UST&nbsp;fell below 30 cents this week, traders made 3x profits as they exchanged them and withdrew in LUNA.
<a href="https://www.editorji.com/business-news/cryptocurrency/terra-usd-and-luna-the-whole-fiasco-explained-1652346670378" target="_blank">Click here</a> to know what happened&nbsp;with Terra LUNA and UST&nbsp;coins and why they turned to zero.

Twitter CEO Parag Agrawal sent out an internal memo to employees as he let go of top executives and announced massive cost cutting and a total hiring freeze as the market reality shifts for tech: Read what Parag Agrawal wrote to Twitter Employees-:
Team,
Building Twitter and serving our customers around the world is important yesterday, today, and tomorrow. Our purpose is existential. During this time of change, it’s critical that we continue to strengthen our work through increased accountability and execution to make Twitter everything it can be. The priorities and decisions we make now will not only bolster how we navigate through this time, but also for the longer-term success of Twitter which I care about deeply. Some changes are happening to us and some we will drive. A number of these changes are difficult but they are right for Twitter and its future.Current environment
At the beginning of the pandemic in 2020, the decision was made to invest aggressively to deliver big growth in audience and revenue, and as a company we did not hit intermediate milestones that enable confidence in these goals. More recently, the global macroeconomic environment has become less favorable, the war in Ukraine has impacted our results, and may continue to do so. Many other companies have been experiencing a similar effect. And, of course, we are in the middle of an acquisition and we don’t yet know the timing of the close. In order to responsibly manage the organization as we sharpen our roadmaps and our work, we need to continue to be intentional about our teams, hiring and costs.
Hiring
Effective this week, we are pausing most hiring and backfills, except for business critical roles as determined by Staff members in partnership with their HRBPs. We will also be reviewing all extended offers to determine criticality and those that should be pulled back. We are not planning company-wide layoffs, but leaders will continue making changes to their organizations to improve efficiencies as needed. As always, performance management will continue to be a priority at this time at all levels to ensure we have the strongest teams possible.
Budgeting
We also need to pull back on non-labor costs to ensure we are being responsible and efficient. We are reducing contractor and consulting spend, travel and events, marketing, our real estate footprint, on premise and public-cloud related infrastructure spend, and other operational costs. Please continue to treat Twitter’s resources as you would your own, and manage tightly to your budgets, prioritizing what matters most.
As promised, I will continue to communicate often and directly with all of you as we continue to move forward. Next week, will be holding a virtual offsite with our Global Leadership Team (GLT) to drive further cohesion and focus, and strengthen our collective plans to best support all of you. We will report out the outputs of that meeting to you.
While we are in a ton of change right now, historically, Twitter often is. What stays true is our purpose, Twitter’s importance and the criticality of our work, and how we come together. Thank you for your leadership, your focus and your support for one another.
Parag

Twitter CEO Parag Agrawal's memo REVEALED: Cost cutting, layoffs, hiring freeze

"More recently, the global macroeconomic environment has become less favorable"

Twitter CEO&nbsp;Parag&nbsp;Agrawal&nbsp;sent out an internal memo to employees as he let go of top executives and announced massive cost cutting along with d a total hiring freeze at the social media platform amidst Elon Musk's takeover. The justification he gives is a new&nbsp;market; read what Parag&nbsp;Agrawal&nbsp;wrote to Twitter employees-:
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/twitter-ceo-parag-agrawal-fires-top-executives-find-out-what-happened-1652409117909" target="_blank">Twitter CEO Parag Agrawal fires top executives, find out what happened</a>
Team,
Building Twitter and serving our customers around the world is important yesterday, today, and tomorrow. Our purpose is existential. During this time of change, it&rsquo;s critical that we continue to strengthen our work through increased accountability and execution to make Twitter everything it can be. The priorities and decisions we make now will not only bolster how we navigate through this time, but also for the longer-term success of Twitter which I care about deeply. Some changes are happening to us and some we will drive. A number of these changes are difficult but they are right for Twitter and its future. Current environment
At the beginning of the pandemic in 2020, the decision was made to invest aggressively to deliver big growth in audience and revenue, and as a company we did not hit intermediate milestones that enable confidence in these goals. More recently, the global macroeconomic environment has become less favorable, the war in Ukraine has impacted our results, and may continue to do so. Many other companies have been experiencing a similar effect. And, of course, we are in the middle of an acquisition and we don&rsquo;t yet know the timing of the close. In order to responsibly manage the organization as we sharpen our roadmaps and our work, we need to continue to be intentional about our teams, hiring and costs.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/cryptocurrency/terra-usd-and-luna-the-whole-fiasco-explained-1652346670378" target="_blank">Terra USD and LUNA: The whole fiasco explained</a>
Hiring
Effective this week, we are pausing most hiring and backfills, except for business critical roles as determined by Staff members in partnership with their HRBPs. We will also be reviewing all extended offers to determine criticality and those that should be pulled back. We are not planning company-wide layoffs, but leaders will continue making changes to their organizations to improve efficiencies as needed. As always, performance management will continue to be a priority at this time at all levels to ensure we have the strongest teams possible.
Budgeting
We also need to pull back on non-labor costs to ensure we are being responsible and efficient. We are reducing contractor and consulting spend, travel and events, marketing, our real estate footprint, on premise and public-cloud related infrastructure spend, and other operational costs. Please continue to treat Twitter&rsquo;s resources as you would your own, and manage tightly to your budgets, prioritizing what matters most.
Also read/watch |<a href="https://www.editorji.com/business-news/markets/crypto-markets-scripting-a-scary-story-coins-down-99-billionaires-lose-90-wealth-1652337306286" target="_blank">&nbsp;Crypto markets scripting a scary story; coins down 99%, billionaires lose 90% wealth</a>
As promised, I will continue to communicate often and directly with all of you as we continue to move forward. Next week, will be holding a virtual offsite with our Global Leadership Team (GLT) to drive further cohesion and focus, and strengthen our collective plans to best support all of you. We will report out the outputs of that meeting to you.
While we are in a ton of change right now, historically, Twitter often is. What stays true is our purpose, Twitter&rsquo;s importance and the criticality of our work, and how we come together. Thank you for your leadership, your focus and your support for one another.
Parag
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/markets/inflation-shockers-cpi-at-the-highest-level-since-2014-clocks-in-at-7-79-1652357336421" target="_blank">Inflation Shocks! CPI at the highest level since 2014, clocks in at 7.79%</a>

Twitter is making headlines but this time it is not Elon Musk but CEO Parag Agrawal that is in the news. Headlines hit that there was a shakeup in the top leadership of the social media platform but the story unveiled when the consumer product leader as well as the head of revenue took to Twitter to tell their story. Consumer product leader Kayvon Beykpour, who was on a paternity leave announced on Twitter that CEO Parag Agrawal “asked me to leave after letting me know that he wants to take the team in a different direction.” After Kayvon's disclosure, Bruce Falck who was general manager of revenue and head of product for Twitter's business side, also took to the social media platform to cofirm that he too was fired by CEO Parag Agrawal. An internal memo sent by Twitter boss Parag Agrawal confirmed the departure without expanding on the rationale. 

Twitter CEO Parag Agrawal fires top executives, find out what happened

Top executive tweeted ‘Parag asked me to leave after letting me know that he wants to take the team in a different direction

Bruce Falck, the general manager of revenue and head of product for its business side, confirmed in a tweet that he was also fired by Agrawal.

Twitter is making headlines but this time it is not Elon&nbsp;Musk but CEO&nbsp;Parag Agrawal&nbsp;that is in the news. Headlines hit that there was a shakeup&nbsp;in the top leadership of the social media platform but the story unveiled when the consumer product leader as well as the head of revenue took to Twitter to tell their story.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/markets/inflation-shockers-cpi-at-the-highest-level-since-2014-clocks-in-at-7-79-1652357336421" target="_blank">Inflation Shocks! CPI at the highest level since 2014, clocks in at 7.79%</a> Consumer product leader&nbsp;Kayvon Beykpour, who was on a paternity leave&nbsp;announced on Twitter&nbsp;that&nbsp;CEO Parag Agrawal&nbsp;&ldquo;asked me to leave after letting me know that he wants to take the team in a different direction.&rdquo;&nbsp; After&nbsp;Kayvon's&nbsp;disclosure,&nbsp;Bruce Falck&nbsp;who was&nbsp;general manager of revenue and head of product for Twitter's business side, also took to the social media platform to cofirm&nbsp;that he too was fired by CEO&nbsp;Parag&nbsp;Agrawal.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/who-is-campbell-wilson-the-new-ceo-of-air-india-1652353689765" target="_blank">Who is Campbell Wilson, the new CEO of Air India?</a> An internal memo sent by Twitter boss Parag&nbsp;Agrawal&nbsp;confirmed the departure without expanding on the rationale.&nbsp;

The great IPL Bazaar is going to back and this time it is not players but broadcasters in the ring, ready for a challenge. The rights to broadcast IPL kicks off in June and the latest buzz suggests that Google parent Alphabet is also making a pitch for it.Bloomberg reports quoting sources that the tech firm which also owns YouTube purchased the bid-related documents from the Board of Control for Cricket in India (BCCI)So who else is in the stands waiting to take a swing? Reports indicate that global names such as Bezos founded Amazon, Walt Disney, Sony will face still competition from Mukesh Ambani backed Reliance and fantasy-sports platform Dream11. Though the information has not been made public reports indicate all these companies have signaled their interest by purchasing these information dockets from BCCI.BCCI will be auctioning its broadcast and live streaming rights for the years 2023-2027 starting June 12. 

Watch IPL on YouTube? Google Parent Alphabet makes a pitch for IPL rights

Last year&rsquo;s edition of the IPL brought in 600 million viewers, according to BCCI estimates

The great IPL&nbsp;Bazaar is going to be back but this time it is not players but broadcasters in the ring, ready for a challenge.&nbsp;The rights to broadcast IPL&nbsp;kicks off in June and the latest buzz suggests that Google parent Alphabet is also making a pitch for it. Bloomberg&nbsp;reports quoting sources that the tech firm which also owns YouTube&nbsp;purchased the bid-related documents from the Board of Control for Cricket in India (BCCI).&nbsp;
Also read/watch|&nbsp;<a title="IPL 2022: Ishan Kishan takes advice to handle price-tag pressure from Kohli, Rohit" href="https://www.editorji.com/sports-news/ipl/ipl-2022-ishan-kishan-takes-advice-to-handle-price-tag-pressure-from-kohli-rohit-1652343584526">IPL 2022: Ishan Kishan takes advice to handle price-tag pressure from Kohli, Rohit</a> So who else is in the stands waiting to take a swing? Reports indicate that global names such as&nbsp;Bezos founded Amazon, Walt Disney,&nbsp;Sony will face still competition from Mukesh&nbsp;Ambani&nbsp;backed Reliance and&nbsp;fantasy-sports platform Dream11. Though the information has not been made public reports indicate all these companies have&nbsp;signaled their interest by purchasing these information dockets from BCCI. BCCI&nbsp;will be auctioning its broadcast and live streaming rights for the years 2023-2027 starting June 12.&nbsp;

Consumer Price Index for inflation for the month of April has shocked at 7.79%. The reading makes it the highest ever since 2014. The internals of the data is something the common man has been facing with record high prices of atta, fuel and edible oil. The data makes it clear that RBI which shocked the street with a 40 bps hike in May is likely to hike rates again in June. The pressure on prices comes as global food and fuel inflation is also at a record high. Here are the economy highlights-:

Consumer prices at 7.79%, Vegetable price inflation at 15%
Consumer food price inflation 8.38% vs 7.68% in March
Rural consumer price inflation 8.38% vs 7.66% in March
Inflation reading has breached RBI's tolerance range for 4th straight month. 

 

Inflation Shock! CPI at the highest level since 2014, clocks in at 7.79%

Inflation Shocks! CPI at the highest level since 2014, clocks in at 7.79%

Inflation Shockers! CPI at the highest level since 2014, clocks in at 7.79%

April CPI&nbsp;comes much above street estimates

Consumer Price Index for inflation for the month of April has shocked at 7.79%. The reading makes it the highest ever since 2014. The internals of the data is something the common man has been facing with record high prices of atta, fuel and edible oil. The data makes it clear that RBI&nbsp;which shocked the street with a 40 bps hike in May is likely to hike rates again in June. The pressure on prices comes as global food and fuel inflation is also at a record high. Here are the economic highlights-:
Also read/watch|&nbsp;<a title="Startups Shrink: From unicorns to layoffs, the firing squad is here" href="https://www.editorji.com/business-news/startups-shrink-from-unicorns-to-layoffs-the-firing-squad-is-here-1652263415790">Startups Shrink: From unicorns to layoffs, the firing squad is here</a>
<ul>
<li>Consumer prices at 7.79%, Vegetable price inflation at 15%</li>
<li>Consumer food price inflation 8.38% vs 7.68% in March</li>
<li>Rural consumer price inflation 8.38% vs 7.66% in March</li>
<li>Inflation reading has breached RBI's&nbsp;tolerance range for 4th straight month.&nbsp;</li>
</ul>
&nbsp;

Tata Sons has finally announced a new CEO and MD for their recently acquired Air India. The salt to software conglomerate announced Campbell Wilson has been appointed the MD and CEO of Air India.Wilson has worked for the Singapore Airlines group for more than 15 years in countries such as Japan, Canada, and Hong Kong and is the founding CEO of low-cost airline Scoot.
Commenting on the appointment, N Chandrasekaran, Chairman, Air India said, “I am delighted to welcome Campbell to Air India.  Air India would benefit from his added experience of having built an airline brand in Asia.”
Speaking on the occasion, Campbell Wilson, said, “Air India is at the cusp of an exciting journey to become one of the best airlines in the world, offering world-class products and services with a distinct customer experience that reflects Indian warmth and hospitality."Ilker Ayci the chief of Turkish Airlines had first been appointed the Air India CEO by the Tatas, but he declined the offer on March 1.Air India has recently come under fire after a video surfaced of a woman - who seems to have a panic attack and collapse to the ground after being denied a seat because, the airline said, she was late. The airline has slammed the video by responding that they are bound by regulatory norms on boarding and entry. 

Who is Campbell Wilson, the new CEO of Air India ?

Tata Sons announced Campbell Wilson&rsquo;s appointment as the Chief Executive Officer (CEO) &amp; Managing Director (MD) of Air India

Tata&nbsp;Sons has finally announced a new CEO and MD for their recently acquired Air India. The salt to software conglomerate announced&nbsp;Campbell Wilson&nbsp;has been appointed the MD and CEO of Air India. Wilson, 50, is the CEO of Scoot, the wholly-owned low-cost subsidiary of Singapore Airlines. He has 26 years of aviation industry expertise across both full service and low-cost airlines, it added.&nbsp;
Also read/watch|&nbsp;<a title="Inflation Shocks! CPI at the highest level since 2014, clocks in at 7.79%" href="https://www.editorji.com/business-news/markets/inflation-shockers-cpi-at-the-highest-level-since-2014-clocks-in-at-7-79-1652357336421">Inflation Shocks! CPI at the highest level since 2014, clocks in at 7.79%</a> Wilson has worked for the Singapore Airlines group for more than 15 years in countries such as Japan, Canada, and Hong Kong and is the&nbsp;founding CEO of low-cost airline Scoot.
Commenting on the appointment, N Chandrasekaran, Chairman, Air India said, &ldquo;I am delighted to welcome Campbell to Air India.&nbsp; Air India would benefit from his added experience of having built an airline brand in Asia.&rdquo;
Speaking on the occasion, Campbell Wilson, said, &ldquo;Air India is at the cusp of an exciting journey to become one of the best airlines in the world, offering world-class products and services with a distinct customer experience that reflects Indian warmth and hospitality." Ilker Ayci&nbsp;the chief of Turkish Airlines had first been appointed the Air India CEO by the Tatas, but he declined the offer on March 1. Air India has recently come under fire after a video surfaced of a woman - who seems to have a panic attack and collapse to the ground after being denied a seat because, the airline said, she was late. The airline has slammed the video by responding that they are bound by regulatory norms onboarding and entry.&nbsp;

The price of the popular cryptocurrency Terra LUNA fell to almost zero on Thursday, from the highs of $119 it made in April. Right now, two coins -- Terra LUNA and Terra UST -- are the most talked about on the internet and social media platforms.
To understand the whole fiasco, we need to first understand the LUNA - UST exchange system.
Terra UST should trade at $1. If it trades above $1, traders can buy $1 worth of LUNA and exchange them for one Terra UST, for an instant profit. If it trades below $1, people can buy one Terra UST for less than a dollar and exchange it for $1 worth of LUNA, for an instant profit.
This adds selling pressure on LUNA and ultimately leads to its price falling down.
So, when the price of UST fell below $1 dollar this week, arbitrageurs stepped in and created a death spiral for LUNA.

Terra USD and LUNA: The whole fiasco explained

Explained how the Terra money machine collapsed almost entirely as UST and LUNA slump deep in the sub-dollar doldrums

The UST stablecoin remains deep in the sub-dollar doldrums

The price of the popular cryptocurrency&nbsp;Terra&nbsp;LUNA fell to almost zero on Thursday, from the highs of $119 it made in April. Right now, two coins -- Terra LUNA and Terra UST&nbsp;-- are the most talked about on the internet&nbsp;and social media platforms.
To understand the whole fiasco, we need to first understand the&nbsp;LUNA - UST&nbsp;exchange system.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/markets/crypto-markets-scripting-a-scary-story-coins-down-99-billionaires-lose-90-wealth-1652337306286" target="_blank">Crypto markets scripting a scary story; coins down 99%, billionaires lose 90% wealth</a>
Terra UST should trade at $1. If it trades above $1, traders&nbsp;can buy $1 worth of LUNA and exchange them for one Terra UST, for an instant profit. If it trades below $1, people can buy one Terra UST for less than a dollar and exchange it for $1 worth of LUNA, for an instant profit.
This adds selling pressure on LUNA and ultimately leads to its price falling down.
So, when the price of UST&nbsp;fell below $1 dollar this week, arbitrageurs stepped in and created a death spiral for LUNA.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/mass-layoffs-at-american-companies-here-is-who-is-firing-1652340430753" target="_blank">Mass layoffs at American companies: Here is who is firing</a> The Terra money machine has collapsed almost entirely, LUNA, its sister token, has fallen almost 97% off its 2022 high. The near-complete failure of decentralized finance stands as an important lesson in the systemic risks of algorithmic stablecoins&nbsp;which have turned rather unstable.&nbsp;

ej biz desk

Categories

Trending topics