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;

After partnership with luxury maisons like Valentino, Manish Malhotra and Abu Jani Sandeep Khosla, Mukesh Ambani-backed Reliance Industries is in another effort to make luxury fashion accessible by bringing Spanish luxury house Balenciaga to India by 2023. 
Reliance Brands Ltd (RBL), a unit of the conglomerate, said in a statement it would be Balenciaga's sole partner in India and this partnership will be RBL’s second with the parent group Kering, that houses Balenciaga. 
Founded by Spanish-born Cristóbal Balenciaga in 1917 and established in Paris in 1937, the original house of Balenciaga defined modern couture with its many innovations to form and technique. 

Reliance to bring Spanish luxury brand, Balenciaga to India by this year

Reliance to bring Spanish luxury brand Balenciaga to India

Get ready to shop at Balenciaga in India

Reliance has been on a dealmaking spree, signing franchise agreements with brands like Valentino, Gap and British coffee and sandwich chain Pret-A-Manager&nbsp;

The House of Ambani is adding one more luxury brand to it's offering. Mukesh Ambani-backed Reliance brands is bringing Spanish luxury house Balenciaga to India.&nbsp; Reliance Brands Ltd (RBL), a unit of the conglomerate, said in a statement it would be Balenciaga's sole partner in India and this partnership will be RBL&rsquo;s second with the parent group Kering, that houses Balenciaga.&nbsp;
Founded by Spanish-born Crist&oacute;bal Balenciaga in 1917 and established in Paris in 1937, the original house of Balenciaga defined modern couture with its many innovations to form and technique.&nbsp;
Reliance Brands Ltd(RBL) has a portfolio of brand partnerships with leading global brands, including Armani Exchange, Burberry, Canali, Coach, Diesel, Dune, Emporio Armani, Gas, Giorgio Armani, Hamleys, Hugo Boss, Jimmy Choo, Michael Kors, Versace, Villeroy &amp; Boch and West Elm.

As 82-year-old Nancy Pelosi landed in Taiwan, it was not just the political onlookers that awaited what next from Beijing, the tension in the tech ecosystem escalated. Editorji explains why this 14,000-square-mile island is the epicenter of the global tech revolution. 
- Simply speaking it is the digital powerhouse of the U.S. with enormous manufacturing centers of China- Taiwan is the Silicon Valley of Asia, with a large focus on manufacturing and AI-  U.S. consumes more than $63 billion worth of Taiwanese tech exports - Taiwan Semiconductor Manufacturing Co. is one of the biggest chip foundries on the planet-  Taiwan accounts for more than 90% of the world’s most advanced chip manufacturing with South Korea at 8%, according to a report from the Semiconductor Industry Association and the Boston Consulting Group-  Most companies that design chips today — Qualcomm, Nvidia and Apple among them — don't actually do the manufacturing, instead relying on companies like TSMC.- If Taiwan's chip production were permanently disrupted, the Semiconductor Industry Association estimates it would take three years and $350 billion in investment to build enough capacity to replace it.- The island manufactures about 25–30% of integrated circuits (ICs) globally - Taiwan’s Foxconn, is the world’s largest contract electronics makes iphone and in contract with Google as well-  Big suppliers of liquid-crystal display panels- The island manufactures about 25–30% of integrated circuits (ICs) globally - No one knows for sure how much of China's exports in information and communications hardware are made in Taiwanese-owned factories, but the estimates run from 40% to 80%

Explained: Why Taiwan tensions is worrying the entire tech ecosystem?

Tensions around Taiwan on the rise, Editorji explains why this 14,000-square-mile island is critical to the global tech ecosystem from iPhones to AI. 

Taiwan, Tension & Tech

As 82-year-old Nancy Pelosi landed in Taiwan, it was not just the political onlookers that await the next move from Beijing, tech titans globally are watching with bated breath.&nbsp;

As 82-year-old <a href="https://www.editorji.com/world-news/us-house-speaker-nancy-pelosi-leaves-taiwan-after-a-high-tension-visit-1659536532607">Nancy Pelosi</a> landed in Taiwan, it was not just the political onlookers that await the next move from Beijing, tech titans globally are watching with bated breath.
US House Speaker Nancy Pelosi leaves Taiwan after a high-tension visit
Editorji explains why this 14,000-square-mile island is the epicenter of the global tech revolution.&nbsp;
<ul>
<li>Simply speaking it is the digital powerhouse of the U.S. with enormous manufacturing centers of China</li>
<li>Taiwan is the Silicon Valley of Asia, with a large focus on manufacturing and AI</li>
<li>U.S. consumes more than $63 billion worth of Taiwanese tech exports</li>
<li>Taiwan Semiconductor Manufacturing Co. is one of the biggest chip foundries on the planet</li>
<li>Taiwan accounts for more than 90% of the world&rsquo;s most advanced chip manufacturing with South Korea at 8%, according to a report from the Semiconductor Industry Association and the Boston Consulting Group</li>
<li>Most companies that design chips today &mdash; Qualcomm, Nvidia and Apple among them &mdash; don't actually do the manufacturing, instead relying on companies like Taiwan's TSMC&nbsp;</li>
<li>&nbsp;If Taiwan's chip production were permanently disrupted, the Semiconductor Industry Association estimates it would take three years and $350 billion in investment to build enough capacity to replace it.</li>
<li>The island manufactures about 25&ndash;30% of integrated circuits (ICs) globally</li>
<li>Taiwan&rsquo;s Foxconn, is the world&rsquo;s largest contract electronics makes iphone and in contract with Google as well</li>
<li>Globally big suppliers of liquid-crystal display panels</li>
<li>&nbsp;No one knows for sure how much of China's exports in information and communications hardware are made in Taiwanese-owned factories, but the estimates run from 40% to 80%.&nbsp;</li>
</ul>

Top 10 richest women in India: Kotak Private Banking and Hurun India launched the third edition of the Leading Wealthy Women List, based on the net worth of women as of December 31, 2021. Here's the list: 

List of Richest Women in India 2022 | Top 10 richest women in India |  India's Richest Women List

Do you know these top 10 wealthiest women of India?

Here's the list: 


List of Richest Women in India 2022

The cumulative wealth of the top 100 women in the list surged by 53% to ₹4,16,970 crore.

Top richest women of India : Kotak Private Banking and Hurun India launched the third edition of the Leading Wealthy Women List, based on the net worth of women as of December 31, 2021. Here's the list:&nbsp;
Roshni Nadar Malhotra, the recently appointed Chairperson of the INR 70,680 crore global technology company, HCL Technologies, ranks first on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. The report estimates her wealth to be INR 54,850 crore.&nbsp;
Falguni Nayar, the founder and CEO of beauty e-commerce platform Nykaa overtook Kiran Mazumdar Shaw, Chairperson of Biocon, to become the richest self-made woman with a wealth of Rs. 57,520 crores.
Kiran Mazumdar-Shaw, Founder &amp; MD of Biocon, ranks second on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. The report estimates her wealth to be INR 36,600 crore.
Leena Gandhi Tewari ranks third on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. The report estimates her wealth to be INR 21,340 crore. Leena chairs privately-held USV, which is a pioneer in diabetic and cardiovascular medicines in India with growing traction in APIs and biosimilars among other medical solutions.&nbsp;
Nilima Motaparti For the past five years, as a director of Divi&rsquo;s Laboratories, Nilima oversaw all elements of Divi&rsquo;s Laboratories&rsquo; material sourcing and procurement, corporate finance, and investor relations. Her wealth surged by over 50 percent during the year.
Radha Vembu sister of Zoho founder Sridhar, ranks fifth on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. Radha Vembu founded the tech company, Zoho Mail with her brother Sridhar Vembu and has been co-leading it since 2007. Based out of Chennai, this product manager of Zoho Mail, saw her wealth rise by 127 percent in one year.
<a href="https://www.editorji.com/business-news/pm-modi-to-launch-india-s-first-international-bullion-exchange-but-what-is-it-1659005075875" target="_blank" rel="nofollow noopener">PM Modi to launch India's first international bullion exchange but what is it?</a>
Jayshree Ullal Jayshree Ullal ranks sixth on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. The report estimates her wealth to be INR 10,220 crore. London-born, Jayshree is the CEO of the fastest-growing cloud-networking company, Arista Networks, which is currently valued at USD 16 billion under her leadership.
Neha Narkhede, the co-founder, CTO and CPO,&nbsp;is the eighth richest new member in the list. In June 2021, Confluent&rsquo; valuation rose 25% on the NASDAQ, to hit $11.4 billion (₹84,930 crore), according to the report.&nbsp;
Vandana Lal, director at Dr Lal PathLabs is a new entrant to the top ten list. She is also the head of Dr Lal PathLabs&rsquo; research and development department with a wealth of Rs 6,810 crore.&nbsp;

Burberry has set an example for cultural representation in fashion as they recently chose to pick a four-year-old Sikh boy for their autumn winter '22 collection. 

Burberry casts 4-year-old patka-wearing model for autumn-winter '22 collection

A four-year-old Sikh boy has become the first patka-wearing model. Recently, Burberry shared the pictures of their autumn winter '22 collection and the little boy was featured in it. 

Burberry sets example for cultural representation in fashion!

British luxury brand Burberry chose to cast a 4-year-old Sikh boy for their autumn winter '22 collection and with this, they set an example for cultural representation.&nbsp;

Fashion is versatile, it can be revamped and customised but what is lacking is cultural representation. However, Burberry has now set an example as it showed diversity in its latest campaign.&nbsp;
The British luxury fashion house released pictures of its children's autumn-winter '22 collection. In the latest collection, they chose to cast a four-year-old boy Sahib Singh, and they made him the first patka-wearing model.
The images of the same were shared on the official Instagram account of Sahib Singh. In the caption, it was mentioned that "being part of the Burberry Bear autumn winter '22 campaign is incredible and to be the first patka wearing model for the biggest British brand is just an amazing achievement for our little 4-year-old and the Sikh community."
<h3>What is patka?&nbsp;</h3>
Patka holds traditional value as it is worn by Sikh boys before they start wearing the pagri, which is also known as a turban.&nbsp;
Burberry has been drawing praise on social media. Several users praised the brand for representing the Sikh community and promoting inclusivity and diversity.

RBI Governor salary 2022 : RTI response reveals that the RBI Governor Shaktikanta Das’ remuneration stood at Rs 2.5 lakh per month last year. RBI chief's salary is in-line with what the SBI Chairman earns which amounts to close to Rs 34 lakhs/years.

RBI Governor salary: RBI Governor's salary, the comparison with a bank CEO is shocking! 

Revealed: The RBI Governor's salary, the comparison with a bank CEO is shocking!

Payslip vs Payslip: Regulator vs Regulated

Right to Information (RTI) query response reveals how much RBI Governor earns&nbsp;

The top boss of Mint Street makes 40 times less than the bankers he regulates! An <a href="https://www.editorji.com/india-news/pm-cares-fund-can-t-be-under-rti-it-is-not-a-govt-trust-pmo-1632389522095" target="_blank" rel="nofollow noopener">Right to Information Act (RTI) </a>response reveals that the Reserve Bank of India (RBI) Governor Shaktikanta Das&rsquo; remuneration stood at Rs 2.5 lakh per month last year.&nbsp; Moneycontrol reports that the <a href="https://www.editorji.com/business-news/rbi-june-monetary-policy-factors-at-play-for-shaktikanta-das-1654078209537" target="_blank" rel="nofollow noopener">RBI </a>chief's salary is in-line with what the State Bank of India (SBI) Chairman earns which amounts to close to Rs 34 lakhs per year.&nbsp;
<a href="https://www.editorji.com/business-news/fed-rate-hike-to-massive-market-rally-all-that-happened-overnight-1658966796657" target="_blank" rel="nofollow noopener">Fed raises rates but Fed Chief Powell's comments power up the markets</a> The comparison with SBI Chairman may seem equitable but when the figure is pitched against the private bankers Das supervises and regulates the gap is shocking. The salaries of the top five private bank leaders ranged between 2.3 crore to Rs 7.1 crore per annum, including perks. Thus refelecting that they earn over 10 times what their counterpart at SBI or their regulatory supervisor earns.

ITR Filing Mistakes : The due date for Income Tax Return (ITR) filing for salaried taxpayers is around the corner and EJ Biz puts together the Dos and also the Do Nots for your tax filings

ITR Filing: Mistakes that you should avoid while filing income tax returns

Time for ITR Filing: Make sure you have this list of Dos and Donts 

ITR Filing Mistakes : The ITR filing for the assessment year 2022-23 (AY23) is now available on the income tax e-filing

ITR Filing Mistakes: The due date for Income Tax Return (ITR) filing for salaried taxpayers is around the corner and EJ Biz puts together the Dos and also the Do Nots for your tax filings:
<h3>1. Income Tax Return filing last date</h3>
The due date for filing of return for a class of taxpayers who are not mandated to audit under the income tax law is July 31, while it is October 31, for those cases that are mandated to audit under the Income Tax Law or any other law.
Also read/watch| <a title="Which country holds the most powerful passport?" href="https://www.editorji.com/business-news/which-country-holds-the-most-powerful-passport-1658308542645">Which country holds the most powerful passport?</a>
<h3>2. ITR filing late fees:</h3>
People can file <a href="https://www.editorji.com/business-news/personal-finance/itr-filing-5-mistakes-that-you-should-avoid-while-filing-income-tax-returns-1638166783878" target="_blank">ITR </a>after the deadline passes but they have to pay a late fee. As per the latest details, if the yearly income of an individual is above Rs 5 lakh per annum, a late fee of Rs 5,000 will be imposed. If the income is below Rs 5 lakh per annum, then a late fee of Rs 1,000 will be imposed on the person who will file the ITR after the deadline.
<h3>3. Keep your form in mind&nbsp;</h3>
Individuals should be careful while filling out the<a href="https://www.editorji.com/business-news/personal-finance/itr-filing-5-mistakes-that-you-should-avoid-while-filing-income-tax-returns-1638166783878" target="_blank"> income tax return (ITR)</a> forms. They should make sure that they are filling out the correct ITR form that is applicable to their situation.
<h3>4. Providing incorrect information</h3>
While filing the ITR is necessary, providing correct personal information in the forms is even more critical. The details that need special attention are PAN details, e-mail ID, date of birth and IFSC code.

World's most powerful passports in 2022: The Henley Passport Index 2022: Mirror, Mirror on the wall which is the most powerful passport of them all? The Henely passport Index 2022 is throwing up some surprised with Europe’s domination easing and Asia

Which country holds the most powerful passport? | World's most powerful passports in 2022

The Western domination being the passport posse' is ending, find out which is the most powerful passport in the world...the rankings will surprise you. 

Which country holds the most powerful passport?

Henley Passport Index 2022: The Index also finds the top nations are the least recovered when it comes to life after Covid-19

The Henley Passport Index 2022: Mirror, Mirror on the wall which is the most powerful passport of them all? The Henely passport Index 2022 is throwing up some surprised with Europe&rsquo;s domination easing and Asia coming to the forefront.
Here are the winners -:
Also read/watch| <a title="Google and Oracle data centres are having a 'meltdown' in the heatwave" href="https://www.editorji.com/business-news/google-and-oracle-data-centres-are-have-a-meltdown-in-the-heatwave-1658292694311">Google and Oracle data centres are having a 'meltdown' in the heatwave</a>
&bull;&nbsp; Japan has the <a href="https://www.editorji.com/business-news/which-country-holds-the-most-powerful-passport-1658308542645" target="_blank">world's most powerful passport</a> as per the Henely passport Index 2022. With this, Japanese in the world can visit 191 destinations without visa.
&bull;&nbsp; Singapore slipped to joint second place alongside South Korea, with passport holders from both countries able to access 192 destinations around the world visa-free.
&bull;&nbsp; The UK is sixth with access to 187 countries, while an American <a href="https://www.editorji.com/business-news/you-could-have-an-e-passport-by-the-end-of-this-year-thanks-to-tcs-1655780629413" target="_blank">passport </a>gets us access to 186 countries placing them at number 7.
&bull;&nbsp; Indian passport holders get hassle-free entry into 58 countries but that puts us in 84th place, sharing the spot with Mauritania and Tajikistan.
&bull;&nbsp; Across our borders, despite Covid constraints, China is placed 69th with access to 80 countries while the Pakistan passport has been ranked as the 4th worst passport to hold, placed at 104th position.&nbsp;
&bull;&nbsp; Afghanistan&rsquo;s passport is the least useful, getting the holder into only 27 countries.&nbsp;

3,000,000,000,000 that's the marketcap of global cryptocurrency trade. As India looks to regulate the booming crypto trade in the subcontinent, here is a look at how the world is dealing with digital token deluge-:
United StatesCryptocurrency is legal in the states, but there is no comprehensive regulation to govern crypto activities. For now, bitcoin (BTC) and ether (ETH) are categorized as ‘commodities’ and taxed as ‘property’ by the IRS.
The US Securities and Exchange Commission (SEC) puts across cryptocurrencies to be securities on which security laws are very much applicable and cryptocurrency exchanges fall under the regulations for the Bank Secrecy Act 
The European UnionEU has been in the limelight as it is one of the initial countries to make cryptocurrency legal but there is no specific regulation passed by the EU that governs crypto activities.
Taxation on cryptocurrencies also varies by country, ranging from 0% to 50%. The EU has recently rolled out the latest anti-money laundering directives to be followed by crypto exchanges to ensure no wrongdoing. 
ChinaThe Mainland's dealings with cryptocurrencies has been a roller-coaster ride.From the most welcoming to one of the most restricted crypto-markets in the world. In June 2021, it banned the mining of cryptocurrencies, leading to about a 40% fall in global mining operations. China is focusing on promoting it's Digital Yuan as a priority post the ban.
South KoreaIn South Korea, crypto exchanges are legal but not cryptocurrencies. Cryptocurrency transactions are expected from taxes. However, the Ministry of Strategy and Finance has laid out its plan of imposing a tax on crypto transactions with a revised tax framework to be launched in 2022.

Crypto Bill: A look at how the world is regulating cryptocurrencies 

Crypto legal limbo: A look at how the world is regulating cryptocurrencies through the craze and collapse

Crypto legal limbo

A look at cryptocurrency regulations in major economies and groupings and see how India may compare.

Crypto and its cryptic legal stance in India continues, the FM has made it clear that banning digital token is not feasible without international collaboration. But how is the world over managing the crypto craze and now the collapse -:
United States Cryptocurrency is legal in the states, but there is no comprehensive regulation to govern crypto activities. For now, bitcoin (BTC) and ether (ETH) are categorized as &lsquo;commodities&rsquo; and taxed as &lsquo;property&rsquo; by the IRS.
The US Securities and Exchange Commission (SEC) puts across cryptocurrencies to be securities on which security laws are very much applicable and cryptocurrency exchanges fall under the regulations for the Bank Secrecy Act&nbsp;
Also read/watch| <a title="FM explains why a complete crypto ban is not possible" href="https://www.editorji.com/business-news/cryptocurrency/fm-explains-why-a-complete-crypto-ban-is-not-possible-1658134695654">FM explains why a complete crypto ban is not possible</a>
The European Union EU has been in the limelight as it is one of the initial countries to make cryptocurrency legal but there is no specific regulation passed by the EU that governs crypto activities.
Taxation on cryptocurrencies also varies by country, ranging from 0% to 50%. The EU has recently rolled out the latest anti-money laundering directives to be followed by crypto exchanges to ensure no wrongdoing.&nbsp;
China The Mainland's dealings with cryptocurrencies has been a roller-coaster ride.From the most welcoming to one of the most restricted crypto-markets in the world. In June 2021, it banned the mining of cryptocurrencies, leading to about a 40% fall in global mining operations. China is focusing on promoting it's Digital Yuan as a priority post the ban.
South Korea In South Korea, crypto exchanges are legal but not cryptocurrencies. Cryptocurrency transactions are expected from taxes. However, the Ministry of Strategy and Finance has laid out its plan of imposing a tax on crypto transactions with a revised tax framework to be launched in 2022.

Over 4 lakh homes are either delayed or unfinished by builders across seven major cities as per a report. So if you are one of the unfortunate consumers who is stuck with an unfinished home here are your options-:
Register a complaint with the authority: The first option is to file a consumer complaint with the Real Estate Regulation and Development Authority (RERA) for delayed projects. RERA permits a homebuyer a choice of seeking either interest on delayed possession or a complete refund of the money paid along with interest thereon.
Legal recourse: Depending on the value of the property, buyers can approach the National Consumer Disputes Redressal Commission (NCDRC) -- a quasi-judicial commission set up in 1988 under the Consumer Protection Act, 1986. 
Progress and EMI: Experts suggest to keep a close watch on the schedule of progress updates being provided by the builders. If there is a delay or no updates one is recommended contact RERA along with EMI payments made so far. 

Home buyers dilemma as housing projects get stuck! What to do

Housing project stuck? Here is what you can do 

Report shows over 4 lakh&nbsp;homes stuck/delayed by builders across major cities

Over 4 lakh homes are either delayed or unfinished by builders across seven major cities as per a report. So if you are one of the unfortunate consumers who is stuck with an unfinished home here are your options-:
Register a complaint with the authority: The first option is to file a consumer complaint with the Real Estate Regulation and Development Authority (RERA) for delayed projects. RERA permits a homebuyer a choice of seeking either interest on delayed possession or a complete refund of the money paid along with interest thereon.
Also read/watch| <a title="Is Beyonce singing about the 'Great Resignation'?" href="https://www.editorji.com/business-news/is-beyonce-singing-about-the-great-resignation-1655882822861">Is Beyonce singing about the 'Great Resignation'?</a>
Legal recourse: Depending on the value of the property, buyers can approach the National Consumer Disputes Redressal Commission (NCDRC) -- a quasi-judicial commission set up in 1988 under the Consumer Protection Act, 1986.&nbsp;
Progress and EMI: Experts suggest to keep a close watch on the schedule of progress updates being provided by the builders. If there is a delay or no updates one is recommended contact RERA along with EMI payments made so far.&nbsp;

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Even though LIC shares could not give the returns as expected, but maybe this news might make investors feel better. 
Recently-listed Life Insurance Corporation (LIC) has broken into the latest Fortune Global 500 list, while Reliance Industries has jumped 51 places.
The nation's biggest life insurer with revenue of USD 97.26 billion and a profit of USD 553.8 million, was ranked 98th on the just released Fortune 500 list.LIC topped the list of companies from India, followed by eight other domestic firms. 
Reliance Industries jumped 51 places to 104 on the 2022 list.
Walmart landed at No. 1 for the ninth straight year, trailed by Amazon, which reached its highest ranking ever. 

LIC breaks to top-ranked Indian firm on Fortune Global 500 List

LIC breaks into Fortune 500 joining 8 other Indian firms. Reliance makes a huge leap

Indian Oil Corporation (IOC) rose 28 places to 142nd rank while Oil and Natural Gas Corporation (ONGC) climbed 16 places to 190

Even though LIC shares could not give the returns as expected, but maybe this news might make investors feel better.&nbsp;
Recently-listed Life <a href="https://www.editorji.com/business-news/lic-shares-hit-new-record-low-1654504813674">Insurance Corporation (LIC) </a>has broken into the latest Fortune Global 500 list, while Reliance Industries has jumped 51 places.
The nation's biggest life insurer with revenue of USD 97.26 billion and a profit of USD 553.8 million, was ranked 98th on the just released Fortune 500 list. LIC topped the list of companies from India, followed by eight other domestic firms.&nbsp;
Reliance Industries jumped 51 places to 104 on the 2022 list.
<a href="https://www.editorji.com/business-news/big-job-losses-walmart-lays-off-hundreds-slashes-profit-guidance-1659588670683">Walmart </a>landed at No. 1 for the ninth straight year, trailed by Amazon, which reached its highest ranking ever.&nbsp;

Makers of Dolo-650, a fever reducing drug, had distributed freebies worth whooping Rs 1,000 crore to doctors as consideration for prescribing the tablet, the Federation of Medical & Sales Representatives Association of India told the Supreme Court.
Justice DY Chandrachud, who was hearing the matter today, said that it was a serious issue and even he was prescribed the same anti-fever drug during COVID.
The petition said such practices not only result in over-use of drugs, it can also jeopardise the health of the patients; such corruption also pushes high-priced or irrational drugs in the market.
Meanwhile, the court has directed the Central government to file a reply within 10 days.
It is worth mentioning that Dolo-650 was the most prescribed medicine all through COVID-19 pandemic since the start of 2020.

DOLO-650 makers distributed freebies worth Rs 1,000 cr to doctors: FMRAI

Was Dolo prescribed because of freebies given to Doctors? 

Rs 1000 cr worth of freebies = over prescription of Dolo?

Dolo-650 was the most prescribed medicine all through COVID-19 pandemic since the start of 2020.

Makers of Dolo-650, a fever reducing drug, allegedly distributed freebies worth whooping Rs 1,000 crore to doctors as consideration for prescribing the tablet, a body of medical representatives told the Supreme Court.&nbsp; The Federation of Medical &amp; Sales Representatives Association of India made this submission to the Supreme Court amid a public interest litigation (PIL) petition hearing that is seeking directions to make pharmaceutical companies liable for giving freebies to doctors as incentive to prescribe their drugs.
<a href="https://www.editorji.com/india-news/being-tolerant-doesn-t-mean-tolerating-hate-speech-justice-chandrachud-1659847176451">Justice DY Chandrachud</a>, who was hearing the matter, said that it was a serious issue and even he was prescribed the same anti-fever drug during COVID.
"This is not music to my ears. I was also asked to have the same when I had <a href="https://www.editorji.com/india-news/delhi-lieutenant-governor-urges-caution-covid-positivity-rate-almost-20-1660699811680">COVID</a>. This is a serious issue and matter," Justice Chandrachud remarked. The petition said such practices not only result in over-use of drugs, it can also jeopardise the health of the patients; such corruption also pushes high-priced or irrational drugs in the market.
Meanwhile, the court has directed the Central government to file a reply within 10 days.
Also Read:-<a href="https://www.editorji.com/world-news/us-first-lady-jill-biden-tests-positive-for-covid-19-has-mild-symptoms-1660699176199"> US First Lady Jill Biden tests positive for Covid-19, has 'mild' symptoms</a>
On March 11, the top court agreed to examine a plea seeking direction to the Centre for formulating a Uniform Code of Pharmaceutical Marketing Practices to curb unethical practices of Pharma companies and ensure an effective monitoring mechanism, transparency, accountability as well as consequences for violations.

In a move to uplift tax revenues from alcoholic beverages, the Japanese government has launched a nationwide competition calling for ideas to encourage people to drink more alcohol. 
The Sake Viva! campaign, which is being run by the National Tax Agency (NTA), asks 20- to 39-year-oldsto come up with ideas for new "products and designs" to "stimulate demand among young people".
This includes boosting Japanese alcoholic beverages such as sake (rice wine), beer, whiskey, wine or beer. 
According to reports, the group running the competition for the tax authority says new habits - partly formed during the Covid pandemic - and an ageing population have led to a decline in alcohol sales.
Taxes on alcohol products accounted for 5% of total revenue in 1980, but shrunk to just 1.7% in 2020, according to The Japan Times.

Japan encourages its youth to drink more and boost economy

Sake Viva! campaign, which is being run by the govt asks 20- to 39-year-olds to come up with proposals to help revitalise the popularity of alcoholic drinks

This country is encouraging its sober young people to drink more to boost economy 

Taxes on alcohol products accounted for 5% of total revenue in 1980, but shrunk to just 1.7% in 2020

In a move to uplift tax revenues from alcoholic beverages, the Japanese government has launched a nationwide competition calling for ideas to encourage people to drink more alcohol.&nbsp;
The Sake Viva! campaign, which is being run by the <a href="https://www.editorji.com/india-news/cuet-ug-national-testing-agency-delists-53-exam-centres-for-non-compliance-of-protocols-1659866903634">National Tax Agency </a>(NTA), asks 20- to 39-year-oldsto come up with ideas for new "products and designs" to "stimulate demand among young people".
This includes boosting <a href="https://www.editorji.com/world-news/japanese-city-under-attack-marauding-monkeys-snatch-bite-babies-1658926048421">Japanese </a>alcoholic beverages such as sake (rice wine), beer, whiskey, wine or beer.&nbsp;
According to reports, the group running the competition for the tax authority says new habits - partly formed during the Covid pandemic - and an ageing population have led to a decline in alcohol sales.
Read More:-<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>
Taxes on alcohol products accounted for 5% of total revenue in 1980, but shrunk to just 1.7% in 2020, according to The Japan Times.

Though it's quite convinent to order food at your door step when you're starving or occupied enough to not pick it up from the restaurant but LinkedIn user's reveal on how much extra you pay for food delivery might give you some motivation!
A LinkedIn user Vinayak Rajanahally shares two images of the same bill that the user has to pay if he gets it delivered by food delivery apps like Swiggy or Zomata and in the second case getting the food being picked up by himself from the restaurant. 
According to the images posted by the LinkedIn user, the pricing of the food items if delivered online was being shown at ₹823 on Swiggy and ₹785 on Zomato but only ₹440 when the same was taken in offline mode.
He further added, ''today, user behavior is such, we don’t think twice to order food online, assuming it would be just 10 to 20% higher than normal, which is OK to pay for convenience. Rarely we realize it is not !!! I wonder why are these food apps incurring massive losses despite making such huge margins.'' 

''Zomatao and Swiggy delivery charges extremely higher''; customer reveals how much extra you pay

Viral post shows delivery food pricing that will shock you 

Don't think before ordering food online? Here's how much extra you pay for delivery 

''I wonder why are these food apps incurring massive losses despite making such huge margins''.&nbsp;

Though it's quite convinent to order food at your door step when you're starving or occupied enough to not pick it up from the restaurant but LinkedIn user's reveal on how much extra you pay for food delivery might give you some motivation!
A LinkedIn user Vinayak Rajanahally shares two images of the same bill that the user has to pay if he gets it delivered by food delivery apps like Swiggy or Zomata and in the second case getting the food being picked up by himself from the restaurant.&nbsp;
According to the images posted by the LinkedIn user, the pricing of the food items if delivered online was being shown at ₹823 on Swiggy and ₹785 on <a href="https://www.editorji.com/business-news/zomato-stake-sale-uber-to-drive-out-1659495315251">Zomato</a> but only ₹440 when the same was taken in offline mode.
Read More:- <a href="https://www.editorji.com/business-news/dominos-responds-to-to-viral-mop-topping-on-pizza-dough-1660635165158">Dominos responds to viral mop 'topping' on pizza dough</a>
He further added, ''today, user behavior is such, we don&rsquo;t think twice to order food online, assuming it would be just 10 to 20% higher than normal, which is OK to pay for convenience. Rarely we realize it is not !!! I wonder why are these food apps incurring massive losses despite making such huge margins.''&nbsp;

Year after SEBI allowed mutual fund houses to introduce silver exchange-traded funds, asset management company (AMC) Edelweiss Mutual Fund is scheduled to launch India’s first scheme that offers exposure to gold and silver via a single fund on 24 August.
Edelweiss’ new scheme will target equal exposure to the two metals and will rebalance periodically. Since the AMC doesn’t have a standalone gold or silver fund, the scheme will invest in units of gold and silver ETFs managed by other fund houses or Edelweiss.
The new fund offer for Edelweiss Gold and Silver ETF Fund of Fund (FoF) will close on 7 September. The fund’s managers for the scheme are Bhavesh Jain and Bharat Lahoti. 
Gold ETF, which aims to track the domestic physical gold price, are passive investment instruments that are based on gold prices and invest in gold bullion.

Edelweiss to launch India’s first gold and silver fund

Edelweiss to launch India’s first gold and silver fund

Here's you all need to know:

Securities and Exchange Board of India (Sebi) had in September allowed MF houses to introduce silver exchange-traded funds (ETFs) in the Indian market

It's a shiny new offer from the house of Edelweiss right ahead of the festive season. Year after SEBI allowed mutual fund houses to introduce silver exchange-traded funds, asset management company (AMC) Edelweiss Mutual Fund is scheduled to launch India&rsquo;s first scheme that offers exposure to gold and silver via a single fund on August 24.
Edelweiss&rsquo; new scheme will target equal exposure to the two metals and will rebalance periodically. Since the AMC doesn&rsquo;t have a standalone gold or silver fund, the scheme will invest in units of gold and silver ETFs managed by other fund houses or Edelweiss.
The new fund offer for Edelweiss <a href="https://www.editorji.com/sports-news/cwg-historic-india-win-gold-silver-in-men-s-triple-jump-1659869783914">Gold and Silver</a> ETF Fund of Fund (FoF) will close on 7 September. The scheme would invest in shares of gold and silver ETFs managed by other fund houses or Edelweiss since the AMC lacks a single gold or silver fund.
Read More:- <a href="https://www.editorji.com/sports-news/commonwealth-games-2022/cwg-india-s-priyanka-goswami-clinches-silver-with-her-personal-best-in-10-000m-race-walk-1659787714440">CWG: India&rsquo;s Priyanka Goswami clinches Silver with her personal best in 10,000m race walk</a> Looking for a hedge against inflation and reccession, the yellow metal has provided much solace to investors. Data showed that the yellow metal was up 26.1%, 31.7% and 11.3% during recession and market down-cycles in 2008, 2011 and 2016, respectively.

Zomato-backed logistics technology platform Shiprocket has become the latest entrant to the country’s unicorn club after raising Rs 259 crore (roughly $32.6 million) in a funding round which valued the company at over $1.2 billion. 
According to reports, the fresh funds will help Shiprocket extend its operating system by building newer software and intelligence products along with deepening its capability on the fulfilment and same-day delivery experience.
Launched in 2017 by Gautam Kapoor, Saahil Goel, and Vishesh Khurana, Shiprocket delivers packets to more than 2 lakh orders daily, helped along by robust demand in the direct-to-consumer (D2C) market and a number of e-commerce businesses trying to improve their supply chains to meet the exploding demand in non-metro cities.

Shiprocket turns unicorn after raising $32 billion crore

This Zomato-backed startup just delivered a Unicorn valuation

Shiprocket turns unicorn

<div>
A unicorn is a privately-held startup with a valuation of $1 billion or more
</div>

Zomato-backed logistics technology platform Shiprocket has become the latest entrant to the country&rsquo;s unicorn club after raising $32 billion&nbsp; in a funding round which valued the company at over $1.2 billion. Shiprocket joins peers Delhivery, Xpressbees, and BlackBuck in the unicorn clique.&nbsp; The fresh funding round led was by Light Rock India and as per the startup&rsquo;s regulatory filing, Singapore&rsquo;s sovereign fund Temasek, Bertelsmann, Moore Strategic Ventures, Paypal, March Capital, and Huddle also participated.
The fresh funding comes at a time when the company has been on an acquisition spree. The startup has acquired five firms over the last one year.&nbsp;
Also Read:-<a href="https://www.editorji.com/business-news/zomato-stake-sale-uber-to-drive-out-1659495315251"> Zomato stake sale: Uber to drive out</a>
Launched in 2017 by Gautam Kapoor, Saahil Goel, and Vishesh Khurana, Shiprocket delivers packets to more than 2 lakh orders daily, helped along by robust demand in the direct-to-consumer (D2C) market and a number of e-commerce businesses trying to improve their supply chains to meet the exploding demand in non-metro cities.

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