Name: Layoffs wave continues: Ericsson to fire 1400 employees globally
Uploaded: 2023-02-21T18:13:50.000+05:30
Duration: T00M34S
Channel: Editorji News Desk
Description: Joining a list of tech firms that have sacked thousands of employees in recent months, Ericsson has announced to lay off at least 1,400 employees

IIT alumnus Prateek Sharma is set to launch Cigibud, the world's first smoking cessation filter, Cigibud, which will be officially launched later on Wednesday, filters up to 80 per cent of tar and nicotine from a cigarette

Cigibid, world's first smoking cessation filter ready for launch; will help smokers quit

IIT alumnus Prateek Sharma is set to launch Cigibud, the world's first smoking cessation filter, Cigibud,&nbsp; filters up to 80% of tar and nicotine from a cigarette and will help smokers quit.&nbsp;

Cigibud, the world's first smoking cessation filter is set to be officially launched. Cigibud has been developed by IIT alumnus Prateek Sharma.&nbsp; What will Cigibud do?
Cigibud, which will be officially launched later on Wednesday, filters up to 80% of tar and nicotine from a cigarette without affecting its taste and smoking experience, and will help a smoker quit in three months.
Sharma's team carried out a study which suggested that 63% of smokers want to quit smoking but are unable to do so because of nicotine addiction.&nbsp;
Sharma said, &ldquo;Our primary objective is to help people quit smoking through our...Cigibud variants (Lite, Ultra, Pro). But those who don't want to quit, they can at least start using Cigibud (Lite). The nanofibers of Cigibud (Lite) increase the smoothness of smoke and make it less injurious.&rdquo;
Cigibud's Cost
Each packet of Cigibud contains 30 filters and it costs ₹350. One filter is advised to be used only once but people can use it up to three times because beyond that it loses its effectiveness.
Asked if the cost factor will discourage people from using it with one filter costing around ₹10 and ideally should be used once, Sharma said "We are increasing your per cigarette cost by about 50%&nbsp; for three months to help you eradicate smoking cost from your monthly budget".&nbsp;&nbsp;
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The Consumer Prices Index (CPI) rose by 10.4 percent in the 12 months to February 2023, up from 10.1 percent in January, the Office for National Statistics said

UK inflation unexpectedly accelerates to 10.4%

UK inflation unexpectedly accelerates to 10.4%; prices jumped for food and drinks

U.K's retail inflation has spiked to 10.4% for the month of February 2023. This is the highest level of inflation the country has seen in the last 4 months.&nbsp;
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British annual inflation unexpectedly accelerated in February despite central bank efforts to tame a growing cost-of-living crisis, official data showed Wednesday.
The Consumer Price Index (CPI) rose to 10.4% for&nbsp; February 2023, up from 10.1 percent in January, the Office for National Statistics in the U.K said.
The news strengthened the case for another interest rate hike on Thursday from the Bank of England, despite calls for no change amid global turmoil in the commercial banking sector.
Expectations had been for a slowdown in UK inflation, but prices jumped up for food and drinks -- offset only partially by falling motor fuel costs.
"Inflation ticked up in February, mainly driven by rising alcohol prices in pubs and restaurants following discounting in January," said ONS chief economist Grant Fitzner.
"Food and non-alcoholic drink prices rose to their highest rate in over 45 years with particular increases for some salad and vegetable items as high energy costs and bad weather across parts of Europe led to shortages and rationing."

Elimination of 3 garbage mounds, connection of all colonies to the sewer network, and cleaning of Yamuna were part of the promises.

Delhi Budget finally presented, day after AAP vs BJP war over 'stalling'

Elimination of 3 garbage mounds, connection of all colonies to the sewer network, and cleaning of Yamuna were part of the promises.

Delhi Finance Minister Kailash Gahlot presented the national capital's budget on 22 March 2023, a day after the ruling Aam Aadmi Party accused the Narendra Modi government of stalling the budget.
Gahlot presented a ₹78,800 crore Budget, compared to a ₹75,800 crore Budget a year earlier.
He said that the 2023-24 Budget was dedicated to a clean, beautiful, and modern Delhi. Elimination of 3 garbage mounds, connection of all colonies to the sewer network, and cleaning of Yamuna were part of the promises.
Also Watch: <a href="https://www.editorji.com/india-news/local/as-amritpal-singh-remains-untraceable-punjab-police-release-his-possible-looks-1679418061278">As Amritpal Singh remains untraceable, Punjab police release his possible looks</a>

Unseasonal rain is predicted to drive up the cost of goods that are in limited supply and lower farmer returns on perishable goods if they have lost their crop

Unseasonal rain is anticipated to drive up the cost of commodities that are in low supply

Unseasonal rains could drive up the cost of goods that are in limited supply and lower farmer returns on perishable goods if they have lost their crop

Your monthly provisions bill is likely to see an increase. This, as a result of unseasonal rainfall which is likely to lead to prices rising of certain items, and especially those in short supply.&nbsp; Prices of items such as wheat, jeera, chana, and various fruits and vegetables could spike.&nbsp;
Due to the widespread rainfall in wheat-growing states like Rajasthan, Madhya Pradesh, Gujarat, Bihar, Gujarat, and Maharashtra, wheat output is anticipated to decrease by 3-4% and prices have already done up around 4%, as per an Economic times report.&nbsp;
The majority of the chana grown in the nation's top chana-producing state of Madhya Pradesh will suffer damage, with about half of the harvest still present in the fields.
The report also says that Isabgol, a significant cash crop in Rajasthan that is primarily shipped, has lost up to 50% of its value. Due to crop devastation caused by rain, grape prices have dropped by 30% to 40% in the past week. Costs of jeera, which were already at record high levels, have increased by 6-7% over the last three to four days.
Wheat, mustard, chana, as well as summer fruits like mangoes, watermelons, muskmelons, bananas, and vegetables, that were ready for harvest, have all been harmed by the recent heavy rainfall.
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M&M is in advanced talks with global investors to raise $1-1.3 billion by selling shares in its electric vehicles units. Mahindra is likely to raise capital in multiple tranches over the next two fiscal years, primarily through stake sales in the EV subsidiary

M&M to raise $1.3 billion for EV unit: Report

M&amp;M is in advanced talks with global investors to raise $1-1.3 billion by selling stake in its electric vehicles units, as per reports.&nbsp;
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Auto major Mahindra &amp; Mahindra Ltd is in advanced talks with global investors to raise $1-1.3 billion by selling shares in its electric vehicles (EV) unit, reported Mint citing sources. The newspaper said that this move is aimed at accelerating the expansion plans of its newly formed subsidiary, EV Co.&nbsp;
Mahindra is likely to raise capital in multiple tranches over the next two fiscal years, primarily through stake sales in the EV subsidiary.&nbsp; Mahindra is preparing to establish a new EV factory near Pune and developing platforms for its upcoming electric sport utility vehicles. The conglomerate has estimated an investment requirement of at least ₹10,000 crore for its EV business over the next 2-3 years.
Last year, Mahindra and British International Investment (BII) signed a binding agreement to invest as much as $250 million each into Mahindra&rsquo;s EV subsidiary.&nbsp;

Federal Reserve decision on Wednesday is the next key catalyst, cryptos show signs of fundamental strength

White House blasts on cryptocurrencies; says 'have no fundamental value’

Federal Reserve decision on Wednesday is the next key catalyst, cryptos show signs of fundamental strength

In its latest economic report, the White House has made some scathing comments on digital assets. The report features an entire chapter which points out flaws in the crypto ecosystem as well as raises serious concerns.&nbsp; This report, which casts doubts on the merits of crypto assets, has the crypto industry outraged.&nbsp;
The report, looked at a number of claims from the crypto industry, ranging from cryptocurrencies' role as investment vehicles and payment tools to its potential use in payment infrastructure, saying that "many of them do not have a fundamental value".&nbsp;
It also includes various disasters in the crypto sector, including last year's TerraUSD collapse, BitConnect and FTX, which were cited as examples of how everyday Americans were harmed.
Report comes amid growing industry concern that federal regulators are looking to de-bank crypto companies, though state and federal regulators have thus far denied these claims. Still, the tone of the report is unlikely to assuage these concerns. Meanwhile, most cryptocurrencies have gained momentum in the recent days with Bitcoin's price hovering above the $28,000 level for the first time since June 2022. The largest digital coin has gained roughly 25% since March 8, when signs first emerged of trouble around Silicon Valley Bank (SVB), which has since folded and ignited turmoil among other lenders.&nbsp;

Tata Motors announces hike in commercial vehicles by 5% from April 1. The price increase comes in the wake of the implementation of the more stringent BS-VI phase II emission norms from next month

Tata Motors hikes prices of commercial vehicles by 5% from April 1st 

Tata Motors announces hike in commercial vehicles by 5% from April 1. The price increase comes in the wake of the implementation of the more stringent BS-VI phase II emission norms from next month

Tata Motors has announced a price hike of up to 5% for its commercial vehicles, which will be applicable from April 1. This hike has come in the wake of the implementation of the more stringent BS-VI phase II emission norms from next month.
"The decision to increase prices is a result of the company's efforts to comply with the more stringent BS6 Phase II emission norms," Tata Motors said in a statement. The automaker is upgrading its entire vehicle portfolio to conform to the stricter emission norms, which are set to come into force from April 1.
It also added that the price increase will be applied across the entire range of commercial vehicles, with the exact amount varying according to the individual model and variant.&nbsp;
&nbsp;

Around 18 per cent of India's unicorn startups are founded or co-founded by women and 20 other firms are in pipeline to become unicorn, a joint study found.

 20 women-led startups in pipeline to become unicorn: Study

Around 18 per cent of India's unicorn startups are founded or co-founded by women and 20 other firms are in pipeline to become unicorn, a joint study found

Around 18% of India's unicorn startups are founded or co-founded by women and 20 other firms are in pipeline to become unicorn, a joint study said on Tuesday.
The study conducted by TiE Delhi NCR, research firm Zinnov, Google, NetApp and venture capital firm Indian Angel Network found that despite comparable metrics, success, and high entrepreneurial intent, socio-cultural barriers hinder women founders' growth.
"Approximately 18% of India's total unicorns are founded by women, with 20 Potential Unicorns in the pipeline," the study said.
The startups that are in the pipeline to become unicorns include WinZO, Doubtnut, Infinity Learn, Locus, Pratilipi, Portea, SirionLabs, etc.
Women founded or co-founded start-ups that have already become unicorns include acko, BYJU's Pristyn Care, MyGlamm, MobiKwik, Open etc.
The total valuation of unicorn built by women founders stands at over $30 billion and total equity investments raised by them is over $12 billion.
The study, however, found a huge gender disparity in the Indian start-up ecosystem.
"Disparity in ticket size caused women founders to face an investment loss of about&nbsp; $3.7 billion over the past 3 years," the study said.
According to the study, from an investor's perspective, women founders come across as more cautious compared to their male counterparts, which lowers deal size offers to them.
"Women founders face more scrutiny on their commitment compared to their male counterparts which makes negotiations more challenging from their point of view," the study said.&nbsp;

Yellen, in an excerpt of remarks prepared for delivery to the American Bankers Association on Tuesday, says that overall “the situation is stabilising." "And the U.S. banking system remains sound,”

US banking stabilizing, may intervene more if needed: Treasury Secretary Janet Yellen

U.S Treasury Secretary, Janet Yellen, said that the overall &ldquo;the situation is stabilising", with respect to the banking crisis, adding that the U.S. banking system remains sound.&nbsp;

Treasury Secretary Janet Yellen is trying project calm after regional bank failures, saying the U.S. banking system is &ldquo;sound&rdquo; but additional rescue arrangements &ldquo;could be warranted&rdquo; if any new failures at smaller institutions pose a risk to financial stability.
Yellen, in an excerpt of remarks prepared for delivery to the American Bankers Association on Tuesday, says that overall &ldquo;the situation is stabilising." "And the U.S. banking system remains sound,&rdquo; Yellen says.
Yellen's remarks come after a series of troubling bank developments this month.
Silicon Valley Bank, based in Santa Clara, California, failed on March 10 after depositors rushed to withdraw money amid anxiety over the bank's health. It was the second-largest bank collapse in U.S. history. Regulators convened over the following weekend and announced that New York-based Signature Bank also had failed.
They said that all depositors at both banks, including those holding uninsured funds, those exceeding USD 250,000, would be protected by federal deposit insurance.
And last week a third bank, San Francisco-based First Republic Bank, was fortified by USD 30 billion in funds raised by 11 of the biggest U.S. banks in an attempt to prevent it from collapsing.
The government is now determined to restore public confidence in the banking system and to prevent any more turmoil. The Justice Department and the Securities and Exchange Commission have launched investigations into the Silicon Valley Bank collapse, and President Joe Biden has called on Congress to strengthen rules on regional banks and to impose tougher penalties on executives of failed banks.
Yellen, in her prepared remarks, says the government's intervention was necessary to &ldquo;protect the broader banking system" and more rescue efforts could be necessary.

Cisco's first-ever Cybersecurity Readiness Index highlighted where businesses are doing well and where cybersecurity readiness gaps will widen if global business and security leaders don't take action

Only 24% of Indian companies ready to defend cybersecurity threats: Survey

Cisco's first-ever Cybersecurity Readiness Index highlighted where businesses are doing well and where cybersecurity readiness gaps will widen if global business and security leaders don't take action

Just 24 per cent of organisations surveyed in India have the 'mature' level of readiness needed to be resilient against the modern cybersecurity risks, according to a new Cisco study released on Tuesday.
Cisco, in a separate announcement, said it aims to train 500,000 cybersecurity professionals over 3 years across India.
Cisco's first-ever Cybersecurity Readiness Index highlighted where businesses are doing well and where cybersecurity readiness gaps will widen if global business and security leaders don't take action.
Underlining that readiness is critical, the Cisco study revealed that 90 per cent respondents said they expect a cybersecurity incident to disrupt their business in the next 12 to 24 months.
India scored high in the global chart in terms of maturity (24 per cent), performing above the global average of 15 per cent on cybersecurity readiness. About 38 per cent of companies in India fall into the beginner or formative stages.

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Avalanche in Sonamarg

Joining a list of tech firms that have sacked thousands of employees in recent months, Ericsson has announced to lay off at least 1,400 employees 

Layoffs wave continues: Ericsson to fire 1400 employees globally

Another day, another layoff: Ericsson to fire 1400 employees globally

Joining a list of tech firms that have sacked thousands of employees in recent months, Ericsson has announced to lay off at least 1,400 employees&nbsp;

Telecoms gear maker Ericsson has become the latest firm to cut jobs. The telecom networking company has announced to lay off at least 1,400 employees as part of a broader plan to reduce costs globally.&nbsp; At present, Ericsson employs 14,500 people in Sweden. &nbsp; Earlier last year, the company had announced it was aiming to slash costs by $880 million by the end of 2023. Last month, Ericsson missed expectations for its fourth-quarter earnings. It had warned of reduced spending from customers in the US and other developed markets.
The layoffs announced by Ericsson comes at a time when global IT and big tech companies have trimmed their workforce, citing the economic slowdown of the post-COVID-19 era.

Prime Minister Narendra Modi unveiled the 6G vision document of the country. The project aims to design, develop and deploy next-generation network technologies for India

Mission Bharat 6G: PM Modi launches testbed

Bharat 6G Mission:PM Modi launches testbed

Prime Minister Narendra Modi unveiled the 6G vision document of the country. The project aims to design, develop and deploy next-generation network technologies for India

Prime Minister Narendra Modi launched the 6G vision document which aims to create next generation network technologies. He also unveiled the official testbed project. The vision document released states that 6G will offer ultra-low latency with speeds up to 1 terabit per second. This is thousand times more than the top speed of 5G.
The 6G testbed is being co-developed by a consortium of various Indian Institute of Technology. PM also inaugurated the International Telecommunication Union (ITU) Area Office and Innovation Centre. "The ITU offices in India will help create the right environment for 6G in the country", PM said.&nbsp;
India is the second largest telecom market globally, with 1.2 billion digital subscribers

Get ready to see even more ads on Instagram.

Instagram is bringing ads to search results

Get ready to see even more ads on Instagram.

Meta-owned Instagram has announced it will put ads within the platform's search results to target users searching for businesses, products and content.
Ads will show up in the feed that people can scroll when they tap into a post from search results. As well as search-based ads, the company is rolling out its "Reminder Ads" feature to all advertisers in feed.
These will help marketers build awareness, anticipation and consideration for upcoming events. Currently, ads can be only seen on the explore page, reels, stories and user profiles.

India is third largest billionaire producing country in the world, with 187 billionaires and 16 new additions. If billionaires of Indian origin are included, the total rises to 217

Hurun Global Rich List lists Mukesh Ambani as the only Indian in top 10 billionaires worldwide

India is third largest billionaire producing country in the world, with 187 billionaires and 16 new additions. If billionaires of Indian origin are included, the total rises to 217

According to the Hurun Global Rich List, Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited (RIL), is the only Indian to appear on the list of the top 10 billionaires in the globe.&nbsp;
The RIL CEO ranked ninth worldwide with a $82 billion net worth, according to the study created by research platform Hurun in collaboration with estate firm M3M. According to the Hurun Global Rich list, Mukesh Ambani saw a 20% decrease in wealth, however, retained the wealthiest Asian title for the third consecutive year. Gautam Adani and family slipped to the 23rd position on the list this year. Cyrus Poonawal and Shiv Nadar &amp; Family were at 46th and 50th positions, respectively, while Uday Kotak stood at 135th place.
India continues to be the third biggest producer of billionaires in the world, with 187 billionaires living there and 16 new additions; if billionaires of Indian descent are included, the number increases to 217.
The report also says that Gautam Adani lost Rs 3,000 crore every week over the last year with his wealth eroding as much as 60% post the U.S shortseller Hindenburg Research report.
The biggest losers who saw their wealth plummet by billions, according to the list, include Jeff Bezos, Elon Musk, Sergey Brin, Larry Page and MacKenzie Scott followed by Gautam Adani and Family and Mukesh Ambani.&nbsp;

Continuing its previous day's rally, the 30-share BSE Sensex advanced 139.91 points or 0.24 per cent to settle at 58,215

Markets end higher for 2nd day amid firm global trend

Continuing its previous day's rally, the 30-share BSE Sensex advanced 139.91 points or 0.24 per cent to settle at 58,215

Equity benchmark Sensex and Nifty ended on a positive note on Wednesday, mainly due to buying in healthcare, financial and commodity stocks amid a firm trend in global equities.
Continuing its previous day's rally, the 30-share BSE Sensex advanced 139.91 points or 0.24 per cent to settle at 58,214.59. During the day, it jumped 344.1 points or 0.59 per cent to 58,418.78.
The broader NSE Nifty climbed 44.40 points or 0.26 per cent to end at 17,151.90.
Among the Sensex stocks, Bajaj Finance, Bajaj Finserv, Sun Pharma, IndusInd Bank, Tata Motors, ICICI Bank, Tata Consultancy Services, Hindustan Unilever and Power Grid were the major gainers.
NTPC, Axis Bank, Nestle, HCL Technologies and HDFC Bank were the major laggards.
In Asia, Seoul, Japan, Hong Kong and Shanghai markets ended in the green.
Equity markets in Europe were trading in positive territory during the afternoon trade. The US markets ended significantly higher on Tuesday.
Meanwhile, global oil benchmark Brent crude dipped 0.31 per cent to USD 75.09 per barrel.

The govt is looking to divest Alliance Air and Air India Engineering services simultaneously. Civil aviation secretary Rajiv Bansal has said that the Department of Investment and Public Asset Management may invite expressions of interest from bidders very soon

Centre looks to divest Alliance Air & AI Engineering Services 

EoI for Alliance Air, AI Engg Services soon: Civil aviation secretary

The govt is looking to divest Alliance Air &amp; Air India Engineering services simultaneously. Civil aviation secretary Rajiv Bansal said that the Department of Investment and Public Asset Management (DIPAM) will invite expressions of interest from bidders soon

The government is preparing to privatise the low cost carrier Alliance air and India's largest MRO (Maintenance, Repair and Overhaul) player Air India Engineering services, simultaneously.&nbsp;
"The process of disinvestment of both the companies will be done simultaneously. Expressions of interest (EoIs) will be invited by the government in due course", Rajiv Bansal, civil aviation secretary said while speaking at the CAPA India Aviation Summit.&nbsp;
Bansal mentioned that the first and second steps of holding roadshows for the divestment of AIESL and the second step of approval from the group of ministers are completed. The final approval from the Alternative Mechanism for Disinvestment, a top ministerial panel, is awaited following which the expressions of interest will be invited, as per a report by Financial Express&nbsp;
AIESL, AIASL, and AAAL were subsidiaries of Air India when the government owned it. However, they were not part of Air India's privatisation. The Tata group took control of Air India from the government in January last year.
The divestment of Alliance Air has been in the works since the middle of last year but there hasn&rsquo;t been any formal EOI so far.

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