The world's richest man and the most prolific tweeter Elon Musk is making headlines again on Twitter as he said he is buying British football club Manchester United Plc. 

Elon Musk tweets he is 'buying Manchester United'

Is Elon Musk buying Manchester United or is he joking?

Musk says tweet about buying Manchester United was a joke

Elon Musk tweeted that "I'm not buying any sports teams", calling a viral post about him purchasing Manchester United a joke.

The world's richest man and the most prolific tweeter Elon Musk is making headlines again on Twitter as he said he is buying British football club Manchester United Plc.&nbsp; "I'm buying Manchester United ur welcome," <a href="https://www.editorji.com/business-news/is-elon-musk-buying-manchester-united-or-is-he-joking-1660705637048">Elon Musk</a> said in a tweet that is part of a thread where he stated he supported the left half of the Republican Party and the right half of the Democrats.&nbsp;
<a href="https://www.editorji.com/business-news/why-did-elon-musk-sell-6-9-bn-worth-of-tesla-shares-1660103849558">Why did Elon Musk sell $6.9 bn worth of Tesla shares?</a>
<a href="https://www.editorji.com/business-news/virat-kohli-backed-digit-insurance-files-for-ipo-1660650265398">Virat Kohli backed Digit Insurance files for IPO</a>
Hours later, Elon Musk tweeted that "I'm not buying any sports teams", calling a viral post about him purchasing Manchester United a joke. The billionaire Tesla and SpaceX CEO made the comment in reply to another of his tweets, about supporting both of the United States' two major political parties.
Elon Musk is no stranger to tweets that take the net and markets by strong most infamously for tweets in 2018 about taking Tesla private.&nbsp;

Virat Kohli-backed Insurtech unicorn Digit Insurance has filed its DRHP for an initial public offer as early as Diwali this year. According to reports, the IPO is likely to open after October 2022, in which shareholders will sell up to 109.4 million 

Virat Kohli-backed Digit Insurance files for Rs 1,250Cr IPO

Canadian billionaire Prem Watsa and Virat Kohli are backing this IPO set to for a Diwali open

Virat Kohli backed Digit Insurance files for IPO

Digit Insurance would be eligible for going public post-October 2022

Virat Kohli-backed Insurtech unicorn Digit Insurance has filed its DRHP for an initial public offer as early as Diwali this year. According to reports, the IPO is likely to open after October 2022, in which shareholders will sell up to 109.4 million shares.&nbsp; The regulator Insurance Regulatory and Development Authority (IRDAI) mandates insurtech companies to be at least five years old before going public.
Also Watch/Read: <a href="https://www.editorji.com/sports-news/cricket/indian-cricket-great-deems-chatter-around-dropping-virat-kohli-premature-1658587835834">Indian cricket great deems chatter around dropping Virat Kohli &lsquo;premature&rsquo;</a>
The public offer makes Digit Insurance the second insurtech startup to go public after Policybazaar did so last year.
<h3>About Digit Insurance&nbsp;</h3>
Founde by Kamesh Goyal in 2017, the Bengaluru-based Digit Insurance began its journey to sell primarily motor and travel and property insurance.
<a href="https://www.editorji.com/sports-news/cricket/asia-cup-2022-virat-kohli-starts-training-for-the-multi-nation-tournament-after-a-month-s-break-1660383038718">Asia Cup 2022: Virat Kohli starts training for the multi-nation tournament after a month's break</a> Currently, Go Digit Infoworks holds a majority stake in Digit Insurance. Shareholders of Go Digit Infoworks include Kamesh Goyal, Oben Ventures (Kamesh+Sameer Bakshi&rsquo;s company), and FAL Corporation (part of Prem Watsa's Fairfax Holdings).

The headline inflation may be easing for data watchers but for consumers the price rise is relentless. Milk price has been hiked by Rs 2/litre by Amul as well as Mother Dairy. 

Amul Mother Dairy Milk Price Hike : Another spike in prices: Mother Dairy raises price of milk 

Another spike in prices: Amul, Mother Dairy raise the price of milk 

Milk price hike 

Milk Price Hike : Amul has hiked milk prices by Rs 2 per litre. The new prices will be effective from August 17.

Milk Price Hike : The headline inflation may be easing for data watchers but for consumers the price rise is relentless. Milk price has been hiked by Rs 2/litre by Amul as well as Mother Dairy.&nbsp; With the Rs 2 hike, full cream milk in Ahmedabad, Delhi NCR, Kolkata and Mumbai metro markets will cost Rs 62 per litre, while toned milk will be sold at Rs 50 per litre. For Amul Shakti, customers have to pay Rs 56 per litre.&nbsp; This price hike is being done due to an increase in the overall cost of operation and production of milk. The cattle feeding cost alone has increased to approximately 20 per cent compared to last year, Amul said. "Considering the rise in input costs, our member unions have also increased farmers&rsquo; prices in the range of 8-9 per cent over the previous year," Amul said in a statement.
Also Read/Watch : <a href="https://www.editorji.com/business-news/economy/cng-price-cut-by-rs-6-png-cheaper-by-rs-4-1660706824233">CNG price cut by Rs 6, PNG cheaper by Rs 4</a> This marks the 3rd big hike in prices in just under 1 year.&nbsp;

Hours after an image of a cleaning brush hanging over Dominos pizza dough went viral, the pizza giant took to Twitter to assure customers that the case was being investigated. Dominos was trolled by netizens after the image reportedly from a Bengaluru showing cleaning mops and brushes hanging just above trays of pizza dough in the kitchen were posted. Also, clothes, reportedly belonging to the employees, are seen hanging on the wall above the trays.In response to the slamming on social media, Dominos who did not deny the authenticity of the image assured its customers that the chain upholds the "highest standards of hygiene and food safety."  "We follow exacting international protocols to guarantee the highest levels of hygienic practises and food safety. We will not tolerate any infractions of these operational guidelines. The incident that has come to our attention will be thoroughly investigated, and on the basis of the results, the proper measures will be implemented. Rest assured that we are still committed to taking all reasonable steps to ensure the safety and wellbeing of our clients "Dominos' statement reads.

Dominos response to viral mop over pizza dough photo

Pizza with a mop topping! No thank you says netizens, Dominos responds as photo goes viral

Dominos new mop topping?

Twitter user shared pictures on social media that he claims are from Domino&rsquo;s, Bengaluru

Hours after an image of a cleaning brush hanging over Dominos pizza dough went viral, the pizza giant took to Twitter to assure customers that the case was being investigated.&nbsp; <a href="https://www.editorji.com/india-news/watch-8-feet-long-crocodile-enters-residential-colony-in-mp-s-shivpuri-1660644822150">Dominos </a>was trolled by netizens after the image reportedly from a Bengaluru showing cleaning mops and brushes hanging just above trays of pizza dough in the kitchen were posted. Also, clothes, reportedly belonging to the employees, are seen hanging on the wall above the trays.
Also Read/Watch: <a href="https://www.editorji.com/india-news/watch-8-feet-long-crocodile-enters-residential-colony-in-mp-s-shivpuri-1660644822150">8-feet-long crocodile enters residential colony in MP's Shivpuri</a> In response to the slamming on social media, Dominos who did not deny the authenticity of the image assured its customers that the chain upholds the "highest standards of hygiene and food safety." &nbsp;"We follow exacting international protocols to guarantee the highest levels of hygienic practises and food safety. We will not tolerate any infractions of these operational guidelines. The incident that has come to our attention will be thoroughly investigated, and on the basis of the results, the proper measures will be implemented. Rest assured that we are still committed to taking all reasonable steps to ensure the safety and wellbeing of our clients "Dominos' statement reads.

It is definitely the final leg for Work From Home (WFH) era, with tech giants such as Apple also calling employees back to office as early as next month. The news marks the start of Apple’s much delayed hybrid work model, which was announced in June 2021.After delaying the deadline in May Apple has set a Sept. 5 deadline for corporate employees to be in the office at least three days a week. September also marks one of the heaviest months in the calendar for the Cupertino, California-based tech giant that is looking to launch the iPhone 14 at its next event. Below is the memo from Tim Cook to Apple employees as published by tech journals: 
Team,
The early ramp-in phase of our hybrid work pilot has been a great opportunity to come together, reconnect with our teams, and meet new colleagues in person. This has been a transition for many of us as we’ve navigated changing case rates in many parts of the world, so thank you for your teamwork and professionalism as we continue moving forward.
I’m writing to you today with two updates, one about changes we’re making to our hybrid pilot, the other about its timing.
When we announced the pilot a year ago, we said it would be a learning experience for us all. And we committed ourselves to adapting along the way to create a flexible environment that enables our teams to thrive. Based on the feedback and insights we’ve received from you and your managers, we are making the following adjustment:
Teams participating in the pilot will come to the office three days each week with Tuesday and Thursday as set days across the company, but now the third day you come in will be decided by your teams. Each team will work through the decision about which day is right for them, and you’ll hear from your leaders soon. As before, many employees will have the option of working remotely two days a week. Depending on your role, you will also have the option to work remotely for up to four weeks a year.
We are excited to move forward with the pilot and believe that this revised framework will enhance our ability to work flexibly, while preserving the in-person collaboration that is so essential to our culture. We also know that we still have a lot to learn. And we are committed to listening, adapting, and growing together in the weeks and months ahead.
In terms of timing, many locations around the world are in different phases and you will hear more details shortly. For Santa Clara Valley, we plan to begin our new adjusted pilot with all employees in the office three days beginning the week of September 5th.
In the near term, we will continue to navigate the pandemic together as the situation evolves. We are monitoring the data closely and you will continue to receive updates on health and safety protocols for your location as necessary from our COVID-19 Response Team. In the meantime, it’s encouraging that children under five years old are now eligible for vaccination in many countries, and I urge anyone who is able to get a vaccine or a booster to do so if you haven’t already.
As we continue on this journey, I want to say how grateful I am for everything you do. I’ve never been more excited about the opportunities that lie ahead, the impact we can have on the lives we touch, and the outstanding team that makes it all possible. I look forward to working with you to create a flexible environment at Apple where, together, we can make an even greater difference in the lives of our users around the world.
Tim


Back to office from September: Apple calls back employees

Apple logs out of WFH, calls employees back to work

Bye Bye WFH era! 

<div class="abstract-item-text__d2d4dde8">
Tim Cook: Teams participating in the pilot will come to the office three days each week with Tuesday and Thursday as set days across the company, but now the third day you come in will be decided by your teams.
</div>

It is definitely the final leg for Work From Home (WFH) era, with tech giants such as Apple also calling employees back to office as early as next month. The news marks the start of Apple&rsquo;s much delayed hybrid work model, which was announced in June 2021. After delaying the deadline in May <a href="https://www.editorji.com/tech-news/apple-and-veteran-designer-jony-ive-part-ways-1657709541111">Apple</a> has set a Sept. 5 deadline for corporate employees to be in the office at least three days a week. September also marks one of the heaviest months in the calendar for the Cupertino, <a href="https://www.editorji.com/world-news/california-wildfire-explained-what-is-firenado-1660295366509">California</a>-based tech giant that is looking to launch the iPhone 14 at its next event.&nbsp; Below is the memo from Tim Cook to Apple employees as published by tech journals:&nbsp; 
Team,
The early ramp-in phase of our hybrid work pilot has been a great opportunity to come together, reconnect with our teams, and meet new colleagues in person. This has been a transition for many of us as we&rsquo;ve navigated changing case rates in many parts of the world, so thank you for your teamwork and professionalism as we continue moving forward.
I&rsquo;m writing to you today with two updates, one about changes we&rsquo;re making to our hybrid pilot, the other about its timing.
When we announced the pilot a year ago, we said it would be a learning experience for us all. And we committed ourselves to adapting along the way to create a flexible environment that enables our teams to thrive. Based on the feedback and insights we&rsquo;ve received from you and your managers, we are making the following adjustment:
Teams participating in the pilot will come to the office three days each week with Tuesday and Thursday as set days across the company, but now the third day you come in will be decided by your teams. Each team will work through the decision about which day is right for them, and you&rsquo;ll hear from your leaders soon. As before, many employees will have the option of working remotely two days a week. Depending on your role, you will also have the option to work remotely for up to four weeks a year.
We are excited to move forward with the pilot and believe that this revised framework will enhance our ability to work flexibly, while preserving the in-person collaboration that is so essential to our culture. We also know that we still have a lot to learn. And we are committed to listening, adapting, and growing together in the weeks and months ahead.
In terms of timing, many locations around the world are in different phases and you will hear more details shortly. For Santa Clara Valley, we plan to begin our new adjusted pilot with all employees in the office three days beginning the week of September 5th.
In the near term, we will continue to navigate the pandemic together as the situation evolves. We are monitoring the data closely and you will continue to receive updates on health and safety protocols for your location as necessary from our <a href="https://www.editorji.com/sports-news/cricket/cwg-2022-covid-19-hits-indian-cricket-camp-these-stars-to-miss-the-games-after-testing-positive-1658911955308">COVID-19</a> Response Team. In the meantime, it&rsquo;s encouraging that children under five years old are now eligible for vaccination in many countries, and I urge anyone who is able to get a vaccine or a booster to do so if you haven&rsquo;t already.
As we continue on this journey, I want to say how grateful I am for everything you do. I&rsquo;ve never been more excited about the opportunities that lie ahead, the impact we can have on the lives we touch, and the outstanding team that makes it all possible. I look forward to working with you to create a flexible environment at Apple where, together, we can make an even greater difference in the lives of our users around the world.
Tim

Not even a month after tech giant google paused hiring to 'review headcount needs' reports suggest there is an overall examination of sales productivity and productivity which employees are fearing could be a precursor to layoffs.&nbsp;Business Insider reports that Google Cloud sales leadership threatened employees, saying there will be an "overall examination of sales productivity and productivity in general" and that if next quarter results "don't look up, there will be blood on the streetsGoogle CEO Sundar Pichai told his employees in an all hands meeting late last month that they needed to improve their focus and productivity due to fierce economic headwindsBut Google is not alone in facing what may even be a winter for the tech firms. Mark Zuckerberg, the CEO and founder of Facebook&rsquo;s parent company Meta, blamed &ldquo;one of the worst downturns that we&rsquo;ve seen in recent history&rdquo; for a series of cost-cutting measures, including a hiring freeze.Twitter CEO Parag Agrawal informed employees of the hiring pause in a message earlier this year, citing a recent lag on growth and revenue targets.

Big Layoffs coming? Google warns employees of 'blood on the street' 

Job search soon for google workers?

If third quarter results &ldquo;don&rsquo;t look up, [then] there will be blood on the streets,&rdquo; according to a message conveyed to the sales team as per reports

Not even a month after tech giant google paused hiring to 'review headcount needs' reports suggest there is an overall examination of sales productivity and productivity which employees are fearing could be a precursor to layoffs.&nbsp; Business Insider reports that Google Cloud sales leadership threatened employees, saying there will be an "overall examination of sales productivity and productivity in general" and that if next quarter results "don't look up, there will be blood on the streets Google CEO Sundar Pichai told his employees in an all hands meeting late last month that they needed to improve their focus and productivity due to fierce economic headwinds But Google is not alone in facing what may even be a winter for the tech firms. Mark Zuckerberg, the CEO and founder of Facebook&rsquo;s parent company Meta, blamed &ldquo;one of the worst downturns that we&rsquo;ve seen in recent history&rdquo; for a series of cost-cutting measures, including a hiring freeze. Twitter CEO Parag Agrawal informed employees of the hiring pause in a message earlier this year, citing a recent lag on growth and revenue targets.

Loans get more expesive, India's largest bank, the State Bank of India (SBI) raised its benchmark lending rates by up to 50 basis points (or 0.5 per cent), a move that will lead to an increase in EMIs for borrowers.
The increase in lending rate comes days after the Reserve Bank of India hiked its benchmark lending rate by 50 basis points to tame inflation.
External Benchmark based Lending Rate (EBLR) and Repo-Linked Lending Rate (RLLR) have been raised by 50 basis points while the hike in Marginal Cost of funds-based Lending Rate (MCLR) is 20 basis points across all tenure.
The revised rates are effective from August 15, as per the information posted on SBI website.
SBI's EBLR rose to 8.05 per cent and RLLR increased by similar 50 basis points to 7.65 per cent.
Banks add Credit Risk Premium (CRP) over the EBLR and RLLR while giving any kind of loan, including housing and auto loans.
With the revision, one-year MCLR has increased to 7.70 per cent, from the earlier 7.50 per cent, while for two years it rose to 7.90 per cent and for three years to 8 per cent.
Most of the loans are linked to the one-year MCLR rate.The overnight to three-month SBI MCLR rate has been hiked to 7.35%, from 7.15%. The SBI six-month MCLR goes up to 7.65% from 7.45%, one-year to 7.7%, from 7.5%, two-year to 7.9% from 7.7% and three-year to 8% from 7.8%.
With the increase in lending rate, EMIs will go up for those borrowers who have availed loans on MCLR, EBLR or RLLR.
From October 1, 2019, all banks including SBI have migrated to an interest rate linked to an external benchmark such as RBI's repo rate or Treasury Bill yield. As a result, monetary policy transmission by banks has gained traction. 

SBI MCLR Rates : EMIs start to shoot up: SBI raises lending rates, here are the new rates

Calculate your EMI: SBI raises rates once again

Second rate hike from SBI in a month

The SBI six-month MCLR goes up to 7.65% from 7.45%, one-year to 7.7%, from 7.5%, two-year to 7.9% from 7.7% and three-year to 8% from 7.8%.

Loans get more expensive, India's largest bank, the State Bank of India (SBI) raised its benchmark lending rates by up to 50 basis points (or 0.5 per cent), a move that will lead to an increase in EMIs for borrowers.
The increase in lending rate comes days after the Reserve <a href="https://www.editorji.com/business-news/bank-of-england-warns-uk-to-fall-into-recession-this-year-amid-this-reason-1659670255508">Bank </a>of India hiked its benchmark lending rate by 50 basis points to tame inflation.
External Benchmark based Lending Rate (EBLR) and Repo-Linked Lending Rate (RLLR) have been raised by 50 basis points while the hike in Marginal Cost of funds-based Lending Rate (MCLR) is 20 basis points across all tenure.
The revised rates are effective from August 15, as per the information posted on SBI website.
SBI's EBLR rose to 8.05 per cent and RLLR increased by similar 50 basis points to 7.65 per cent.
Banks add Credit Risk Premium (CRP) over the EBLR and RLLR while giving any kind of loan, including housing and auto loans.
With the revision, one-year <a href="https://www.editorji.com/story/sbi-reduces-mclr-loans-to-get-cheaper-1581057452329">MCLR </a>has increased to 7.70 per cent, from the earlier 7.50 per cent, while for two years it rose to 7.90 per cent and for three years to 8 per cent.
Most of the loans are linked to the one-year MCLR rate. The overnight to three-month SBI MCLR rate has been hiked to 7.35%, from 7.15%. The SBI six-month MCLR goes up to 7.65% from 7.45%, one-year to 7.7%, from 7.5%, two-year to 7.9% from 7.7% and three-year to 8% from 7.8%.
With the increase in lending rate, EMIs will go up for those borrowers who have availed loans on MCLR, EBLR or RLLR.
<a href="https://www.editorji.com/business-news/personal-finance/sbi-hikes-rates-loans-emis-get-more-expensive-1650259103266">SBI hikes rates, loans &amp; EMIs get more expensive</a>
From October 1, 2019, all banks including <a href="https://www.editorji.com/business-news/personal-finance/sbi-hikes-rates-loans-emis-get-more-expensive-1650259103266">SBI</a> have migrated to an interest rate linked to an external benchmark such as RBI's repo rate or Treasury Bill yield. As a result, monetary policy transmission by banks has gained traction.&nbsp;

A sudden lockdown at an Ikea store in Shanghai over the weekend unleashed a chaotic scene after city health authorities ordered the store to lock down after a close contact of a Covid-19 case was traced to the location.Videos on social media howed customers yelling and pushing each other in an attempt to escape the building before the doors closed.In a statement released, the Shanghai Health Commission said a 6-year-old boy tested positive for the coronavirus and was in close contact with multiple people who went to Ikea in the city’s Xuhui districtOn Monday, the city of 25 million recorded six positive coronavirus cases, five of which were asymptomatic. More than 400 close contacts to the 6-year-old boy were identified; 80,000 people loosely connected to the child were ordered to take PCR tests.Shanghai, China's financial capital has followed a 'zero-covid' policy which has led to rapid and prolonged lockdowns.

Watch: Shoppers rush for exits as Shanghai Ikea goes into lockdown

Six covid cases create choas in China. Watch viral video of customers in panic as Ikea Shanghai does into lockdown

Viral Video: Ikea Shanghai lockdown, customers rush to exit

Multiple videos on social media showed customers yelling and pushing each other in an attempt to escape the building before the doors closed.

A sudden lockdown at an Ikea store in Shanghai over the weekend unleashed a chaotic scene after city health authorities ordered the store to lock down after a close contact of a<a href="https://www.editorji.com/coronavirus"> Covid-19</a> case was traced to the location. Videos on social media showed customers yelling and pushing each other in an attempt to escape the building before the doors closed. In a statement released, the Shanghai <a href="https://www.editorji.com/world-news/renaming-monkeypox-who-creates-open-forum-invites-public-feedback-after-stigmatisation-concerns-1660469350384">Health Commission </a>said a 6-year-old boy tested positive for the coronavirus and was in close contact with multiple people who went to Ikea in the city&rsquo;s Xuhui district
<a href="editorji.com/world-news/shanghai-china-s-largest-city-savours-easing-up-of-covid-19-curbs-1654061615568">Shanghai: China's largest city savours easing up of Covid-19 curbs</a> On Monday, the city of 25 million recorded six positive coronavirus cases, five of which were asymptomatic. More than 400 close contacts to the 6-year-old boy were identified; 80,000 people loosely connected to the child were ordered to take PCR tests. <a href="https://www.editorji.com/partner/dw/shanghai-officials-push-tcm-drug-amid-covid-surge-1651144508321">Shanghai</a>, China's financial capital has followed a 'zero-covid' policy which has led to rapid and prolonged lockdowns.

In the latest news from the IPO corner, Syrma SGS a technology-focussed engineering and design company is ready to test its fate with investors. Here is all you need to know 

IPO Opens: August 12 
IPO Closes: August 18
IPO Price: Rs 209 to Rs 220
Grey Market Premium: Rs 30/share (as per reports)

The initial public offering comprises fresh issuance of shares worth Rs 766 crore, and an offer for sale of 33.69 lakh equity shares by promoter Veena Kumari Tandon.Chennai-based engineering and design company Syrma SGS Tech is engaged in turnkey electronics manufacturing services (EMS), specialising in precision manufacturing for diverse end-use industries.As per the DRHP the company provided products to over 200 customers of which 16 customers have been associated with the company for more than 10 years. Some of the key names in the client roster include TVS Motor Company, Eureka Forbes, Atomberg Technologies, Hindustan Unilever, and Total Power Europe B.V.

IPO watch: Syrma SGS Technology IPO, dates to GMP everything you need to know

After over 2 months of an IPO drought, Syrma SGS Technology tests the markets' mettle. Here is all you need to know about the IPO 

First IPO to hit Dalal Street after two and a half months&nbsp;

In the latest news from the IPO corner, Syrma SGS a technology-focused engineering and design company is ready to test its fate with investors. Here is all you need to know&nbsp;
<ul>
<li>IPO Opens: August 12 </li>
<li>IPO Closes: August 18</li>
<li>IPO Price: Rs 209 to Rs 220</li>
<li>Grey Market Premium: Rs 30/share (as per reports)</li>
</ul>
The initial public offering comprises fresh issuance of shares worth Rs 766 crore, and an offer for sale of 33.69 lakh equity shares by promoter Veena Kumari Tandon. Chennai-based engineering and design company Syrma SGS Tech is engaged in turnkey electronics manufacturing services (EMS), specialising in precision manufacturing for diverse end-use industries. As per the DRHP the company provided products to over 200 customers of which 16 customers have been associated with the company for more than 10 years. Some of the key names in the client roster include TVS Motor Company, Eureka Forbes, Atomberg Technologies, Hindustan Unilever, and Total Power Europe B.V.

As the future of Twitter is at stake, the social media giant said the notion Elon Musk was "hoodwinked" into inking a $44 billion buyout deal defies reason and the facts.
In a filing, Twitter rejected counter claims made by Musk as he fights to walk away from the deal he inked in April to buy the San Francisco-based company.
The company accused Musk of contriving a story to escape a merger agreement that he no longer found attractive.
The Tesla boss wooed Twitter's board with a $54.20 per-share offer, but then in July announced he was ending their agreement because the firm had misled him regarding its tally of fake and spam accounts. 

Elon Musk making up excuses to breach twitter deal? 

Twitter calls Musk’s reasoning “a story, imagined in an effort to escape a merger agreement that Musk no longer found attractive.”

Musk also accused Twitter of breaching their agreement by &ldquo;stonewalling&rdquo; his information requests

It is a battle of a bungled buyout, bots and with billions at stake. As the future of Twitter's sale remains in limbo, the social media giant dismissed the notion the world's richest man Elon Musk was "hoodwinked" into inking a $44 billion buyout deal.&nbsp;
In a filing, Twitter rejected counter claims made by Musk as he fights to walk away from the deal he inked in April. In a court filing, Twitter calls Musk&rsquo;s reasoning &ldquo;a story, imagined in an effort to escape a merger agreement that Musk no longer found attractive.&rdquo;
The Tesla boss wooed Twitter's board with a $54.20 per-share offer, but then in July announced he was ending their agreement because the firm had misled him regarding its tally of fake and spam accounts.&nbsp; The fate of that acquisition, which Musk agreed to without taking the time to examine the details of Twitter&rsquo;s business, now rests with a Delaware court where Twitter sued to force Musk to complete the deal. The case is scheduled to go to trial on October 17. &nbsp;

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As the dating app giant, Tinder announces disappointing second-quarter earnings, CEO Renate Nyborg will be departing the company after less than a year in the top job.
Her exit was one of a number of management changes at Tinder announced by parent company Match Group.
According to reports, the Group is also killing Tinder’s plans to adopt new technology, like virtual currencies and metaverse-based dating.In a shareholder letter, Match Group CEO Bernard Kim expressed frustration with Tinder’s current performance, noting the popular dating app has not been able to realize its typical monetization success over the past few quarters and is failing to meet the company’s original expectations for revenue growth for the latter half of 2022.
There was also a hint that the younger generation of users may have lost their appetite for dating apps and moved past lockdowns and entered a more normal way of life, their willingness to try online dating products for the first time hasn't yet returned to pre-pandemic levels. 

Tinder swipes left on CEO Renate Nyborg 

Tinder swipes left on CEO Renate Nyborg 

Here to know the reason 

Match Group chief executive Bernard Kim will take up the role vacated by Ms Nyborg while the company looks for a permanent chief executive&nbsp;

As the dating app giant, Tinder announces disappointing second-quarter earnings, CEO Renate Nyborg will be departing the company after less than a year in the top job.
Her exit was one of a number of management changes at Tinder announced by parent company Match Group.
<a href="https://www.editorji.com/sports-news/cricket/cricket-club-in-uk-creates-tinder-profile-to-recruit-cricketers-1654251181832">Cricket Club in UK creates Tinder profile to recruit cricketers</a>
According to reports, the Group is also killing Tinder&rsquo;s plans to adopt new technology, like virtual currencies and metaverse-based dating. In a shareholder letter, Match Group CEO Bernard Kim expressed frustration with Tinder&rsquo;s current performance, noting the popular dating app has not been able to realize its typical monetization success over the past few quarters and is failing to meet the company&rsquo;s original expectations for revenue growth for the latter half of 2022.
There was also a hint that the younger generation of users may have lost their appetite for dating apps and moved past lockdowns and entered a more normal way of life, their willingness to try online dating products for the first time hasn't yet returned to pre-pandemic levels.&nbsp;

China has ordered all factories in its Sichuan province to close for six days in order to ease a power shortage amid a record heatwave. The world's second largest economy is currently facing the worst heatwave in over 60 years with temperatures running above 40 degress celcius. The power grid is under pressure from air conditioning use and hydropower generation has fallen as river levels deplete. In Sichuan, which has 94 million people, water levels at hydropower reservoirs are down by as much as half this month.China's major manufacturing hub Sichuan province has ordered all factories to shut down for a week to ease a power shortage. Sichuan is key for semiconductor/solar panel industries & China's lithium mining hub and the move will hit Foxconn, Intel, Apple, Tesla-supplier factories & many more.What Next?China is the world's top consumer of coal and  the world's biggest producer of greenhouse gases.

China blackout: Why is power being cut to factories and homes

China facing a coal conundrum

Coal prices rose to a record high after new figures showed the supply of fuel fell in September.&nbsp;

China has ordered all factories in its Sichuan province to close for six days in order to ease a power shortage amid a record heatwave. The world's second-largest economy is currently facing the worst heatwave in over 60 years with temperatures running above 40 degrees Celcius. The power grid is under pressure from air conditioning use and hydropower generation has fallen as river levels deplete. In Sichuan, which has 94 million people, water levels at hydropower reservoirs are down by as much as half this month. China's major manufacturing hub Sichuan province has ordered all factories to shut down for a week to ease a power shortage. Sichuan is key for semiconductor/solar panel industries &amp; China's lithium mining hub and the move will hit Foxconn, Intel, Apple, Tesla-supplier factories &amp; many more. What Next? China is the world's top consumer of coal and the world's biggest producer of greenhouse gases.

The latest news from Dalal Street is cheering on the bulls as the Sensex reclaimed 60,000 in Wednesday's trade. This is the highest that the&nbsp; benchmark 30-stock index has been since April 5.&nbsp;The upmove was supported by the Bajaj Twins (Finance and Finserv) while HDFC Bank and ICICI Bank also nudged the index higher. Oil and Gas major Reliance was the only non financial mover in the top 5 gainers.&nbsp;Broader markets, too, reflected similar resilience as Nifty Midcap 100 and Nifty Smallcap 100 gained in trade up nearly 1%. Sector-wise, Nifty Bank, Nifty Media, Nifty FMCG were the winners. Nifty Auto, however, saw some profit-booking in trade.Macro economic data has also been supportive with inflation showing some signs of relief and the bets of further rate hikes from RBI have eased.&nbsp;

Markets on the move: Sensex reclaims 60,000 

Bulls return to Dalal Street as Sensex reclaims 60,000

Benchmark Index at highest level since April 5

The latest news from Dalal Street is cheering on the bulls as the Sensex reclaimed 60,000 in Wednesday's trade. This is the highest that the&nbsp; benchmark 30-stock index has been since April 5.&nbsp; The upmove was supported by the Bajaj Twins (Finance and Finserv) while HDFC Bank and ICICI Bank also nudged the index higher. Oil and Gas major Reliance was the only non financial mover in the top 5 gainers.&nbsp; Broader markets, too, reflected similar resilience as Nifty Midcap 100 and Nifty Smallcap 100 gained in trade up nearly 1%. Sector-wise, Nifty Bank, Nifty Media, Nifty FMCG were the winners. Nifty Auto, however, saw some profit-booking in trade. Macro economic data has also been supportive with inflation showing some signs of relief and the bets of further rate hikes from RBI have eased.&nbsp;

Even though LIC investors are disappointed as the shares have fallen 25 per cent from their listing, Insurance behemoth is still making its policyholders happy by reviving their lapsed policies. 
Life Insurance Corporation of India (LIC) on Tuesday announced the launch of a campaign for revival of individual lapsed policies.
This special drive, to be carried out from August 17 to October 21, 2022, is extended to all non-ULIP policies with very attractive concession in late fee. 
The campaign is launched to benefit those policy holders who were not able to pay premiums due to unavoidable circumstances and their policy lapsed. 
Shares of LIC have fallen 25 percent from their listing in May, though they have rebound 8 percent since hitting the 52-week low of Rs 650 on June 20.

LIC launches special campaign to revive lapsed policies

Here is how you can revive lapsed LIC policies, special window opened 

This special drive, to be carried out from August 17 to October 21, 2022, is extended to all non-ULIP policies with very attractive concession in late fee

Even though LIC investors are disappointed as the shares have fallen 25 per cent from their listing, Insurance behemoth is still making its policyholders happy by reviving their lapsed policies.&nbsp;
Life Insurance Corporation of India (LIC) has announced the launch of a campaign for revival of individual lapsed policies.
This special drive, to be carried out from August 17 to October 21, 2022, is extended to all non-ULIP policies with very attractive concession in late fee.&nbsp; "Life Insurance cover is a risk management, for contingent, unexpected loss of life. This campaign gives a rare opportunity for LIC&rsquo;s valued policy holders to revive their lapsed policies and continue the benefit of insurance to protect the financial interests of their family," LIC said in its statement.
The campaign is launched to benefit those policy holders who were not able to pay premiums due to unavoidable circumstances and their policy lapsed.&nbsp; Under the campaign, except for ULIP policies, all policies can be revived within 5 years from the date of the First Unpaid Premium subject to policy conditions.

State-owned SBI has filed an insolvency petition against the country's largest sugar firm Bajaj Hindusthan Sugar Ltd.
SBI as a financial creditor has filed the plea before the Allahabad bench of the National Company Law Tribunal (NCLT).
In a regulatory filing, Bajaj Hindusthan Ltd informed that "we understand that State Bank of India, financial creditor through its advocate has initiated Corporate Insolvency Resolution Process of Bajaj Hindusthan Sugar Ltd." The petition has been filed under Section 7 of Insolvency and Bankruptcy Code 2016.
In the last fiscal year, the company had posted a consolidated net loss of Rs 267.54 crore and a turnover of Rs 5,607 crore.
On August 12, the company reported that for the quarter ended June of this fiscal year, its net loss stood at Rs 45 crore and total income at Rs 1,538 crore.
"During the June '22 quarter, due to delayed payment of loan instalment and coupon rate interest on optionally convertible debentures the lenders have classified the company's account as Non-Performing Assets (NPA) as per the RBI regulations on loan classification.
The lenders of the company have signed an ICA (Inter Creditors Agreement) on January 28, 2022 for resolution of the company's accounts, the company had said in the notes of accounts of financial statement for the first quarter.
The debt restructuring as per RBI's S4A scheme has improved the company's liquidity position, it said.
"However, keeping in view the status of outstanding cane dues and funds for servicing debt obligations, the company is further discussing with the lenders a debt resolution plan to have a lasting solution to improve its liquidity," Bajaj Hindusthan had said.
The resolution plan envisages reduction of its overall debt, realignment of its capital structure, payment of cane dues of farmers, increasing cane availability and supply etc.
"The company is also exploring/evaluating various options for corporate restructuring to streamline the business and enhance the company's value," Bajaj Hindusthan said.
Bajaj Hindusthan Sugar Ltd is India's leading sugar and ethanol manufacturing company.
Part of the Bajaj Group (Kushagra), it is headquartered in Mumbai, Maharashtra.
The company has fourteen sugar plants, all located in Uttar Pradesh.
These plants have an aggregate sugarcane crushing capacity of 1,36,000 tonnes crushed per day and alcohol distillation capacity of 800 kilolitres per day.
It is also one of the largest producers of ethanol and currently produces 38 million litres of ethanol per year. The company has increased its ethanol manufacturing capacity to roughly 218 million litres per year.
Bajaj Hindusthan said the company generates close to 430 MW of power from the bagasse produced at its sugar mills and supplies nearly 100 MW from it to the UP State Grid.
Additionally, it has five 90 MW coal-fired power plants adjacent to its sugar units which generate another 450 MW of electricity for the state grid. 

Is India's largest sugar manufacturer bankrupt?

Bitter Bankruptcy for Bajaj Hindusthan?

In the last fiscal year, the company had posted a consolidated net loss of Rs 267.54 crore

State-owned SBI has filed an insolvency petition against the country's largest sugar firm Bajaj Hindusthan Sugar Ltd.
SBI as a financial creditor has filed the plea before the Allahabad bench of the National Company Law Tribunal (NCLT).
In a regulatory filing, Bajaj Hindusthan Ltd informed that "we understand that State Bank of India, financial creditor through its advocate has initiated Corporate Insolvency Resolution Process of Bajaj Hindusthan Sugar Ltd." The petition has been filed under Section 7 of Insolvency and Bankruptcy Code 2016.
In the last fiscal year, the company had posted a consolidated net loss of Rs 267.54 crore and a turnover of Rs 5,607 crore.
On August 12, the company reported that for the quarter ended June of this fiscal year, its net loss stood at Rs 45 crore and total income at Rs 1,538 crore.
"During the June '22 quarter, due to delayed payment of loan instalment and coupon rate interest on optionally convertible debentures the lenders have classified the company's account as Non-Performing Assets (NPA) as per the RBI regulations on loan classification.
The lenders of the company have signed an ICA (Inter Creditors Agreement) on January 28, 2022 for resolution of the company's accounts, the company had said in the notes of accounts of financial statement for the first quarter.
The debt restructuring as per RBI's S4A scheme has improved the company's liquidity position, it said.
"However, keeping in view the status of outstanding cane dues and funds for servicing debt obligations, the company is further discussing with the lenders a debt resolution plan to have a lasting solution to improve its liquidity," Bajaj Hindusthan had said.
The resolution plan envisages reduction of its overall debt, realignment of its capital structure, payment of cane dues of farmers, increasing cane availability and supply etc.
"The company is also exploring/evaluating various options for corporate restructuring to streamline the business and enhance the company's value," Bajaj Hindusthan said.
Bajaj Hindusthan Sugar Ltd is India's leading sugar and ethanol manufacturing company.
Part of the Bajaj Group (Kushagra), it is headquartered in Mumbai, Maharashtra.
The company has fourteen sugar plants, all located in Uttar Pradesh.
These plants have an aggregate sugarcane crushing capacity of 1,36,000 tonnes crushed per day and alcohol distillation capacity of 800 kilolitres per day.
It is also one of the largest producers of ethanol and currently produces 38 million litres of ethanol per year. The company has increased its ethanol manufacturing capacity to roughly 218 million litres per year.
Bajaj Hindusthan said the company generates close to 430 MW of power from the bagasse produced at its sugar mills and supplies nearly 100 MW from it to the UP State Grid.
Additionally, it has five 90 MW coal-fired power plants adjacent to its sugar units which generate another 450 MW of electricity for the state grid.&nbsp;

Mahanagar Gas has cut the prices of kitchen fuel Piped Natural Gas (PNG) and automobile fuel Compressed Natural Gas (CNG), following an increase in allocation of domestically produced natural gas from the government.

CNG PNG Price Today : CNG price cut by Rs 6, PNG cheaper by Rs 4 

Price cut finally! PNG, CNG get cheaper 

CNG PNG Price Today : MGL had in the first week of August, increased prices for CNG and PNG by a similar amount.

CNG PNG Price Today : Mahanagar Gas has cut the prices of kitchen fuel Piped Natural Gas (PNG) and automobile fuel Compressed Natural Gas (CNG), following an increase in allocation of domestically produced natural gas from the government.
The price of PNG has been reduced by Rs 4 per standard cubic metre to Rs 48.50 per SCM, while that of CNG by Rs 6 a kilogram to Rs 80 per kg, as per an official statement.
After the rate revision, <a href="https://www.editorji.com/business-news/png-cng-prices-hiked-again-1659497575709">CNG </a>usage will help a vehicle owner save 48 per cent on fuel costs in the financial capital, Mahanagar Gas Ltd (MGL) said.
In the case of PNG users, the savings will be 18 per cent when compared with the most used alternative Liquified Petroleum Gas (<a href="https://www.editorji.com/business-news/lpg-price-cut-find-out-cooking-gas-prices-from-today-1659326025907">LPG</a>), it said.
Also Watch/Read: <a href="https://www.editorji.com/business-news/personal-finance/another-spike-in-prices-amul-mother-dairy-raise-the-price-of-milk-1660648567925">Another spike in prices: Amul, Mother Dairy raise the price of milk</a>

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