Ola joins Blinkit, Unacademy, Vedantu, Cars24 club as SoftBank-backed mobility platform may lay off 400-500 employees in a bid to significantly bring down its costs. 
According to reports, these layoffs are taking place across departments, amid a challenging funding environment and a delay in listing plans for the Bhavish Aggarwal-led firm.
Recently, Ola shut its used car business Ola Cars and quick commerce business Ola Dash to focus on its electric vehicle manufacturing business.

Ola may layoff up to 500 employees amid funding winter

Indian startups have laid off a little over 11,000 people in the last six months.&nbsp;

Joining a list of firms like Blinkit, Unacademy, Vedantu, Cars24 club, Ola may lay off 400-500 employees in a bid to significantly bring down its costs.&nbsp;
According to reports, these layoffs are taking place across departments, amid a challenging funding environment and a delay in listing plans for the Bhavish Aggarwal-led firm.
Also read/watch| <a title="LPG Cylinder Price Hike: Pay Rs 50 more per cylinder from today" href="https://www.editorji.com/business-news/lpg-cylinder-price-hike-pay-rs-50-more-per-cylinder-from-today-1657078820198">LPG Cylinder Price Hike: Pay Rs 50 more per cylinder from today</a>
Recently, the SoftBank-backed mobility platform, shut its used car business Ola Cars and quick commerce business Ola Dash to focus on its electric vehicle manufacturing business.

Twitter has moved the Karnataka high court challenging the central government's order seeking withdrawal of certain content from its platform that allegedly violate Section 69A of the IT Act.
In its writ petition, the microblogging site has reportedly called the blocking orders "overbroad and arbitrary".
The accounts and content that Twitter has been asked to pull down include those pertaining to the nationwide farmers' protest against the three farm laws passed by the Centre in 2020, COVID-19 management, and so on. 
In a missive sent of June 27, the Ministry of Electronics and IT (MeitY) gave Twitter “one last opportunity” to comply with its blocking orders. The ministry warned that if content flagged by it is not taken down by the microblogging platform, the company will risk losing its immunity as an intermediary. The deadline ended on July 4.
The move came after the IT ministry proposed fresh amendments to rules governing intermediaries such as Facebook and Twitter. Key amendments include a proposal to set up government-appointed grievance committees with the power to review and revoke content moderation decisions taken by these companies.

Twitter moves Karnataka HC, challenges Centre's takedown orders

In a missive sent of June 27, the IT ministry had warned Twitter that if the content flagged by it is not taken down, the company will risk losing its immunity as an intermediary. The deadline ended on July 4.



In a missive sent of June 27, the IT ministry had warned Twitter that if the content flagged by it is not taken down, the company will risk losing its immunity as an intermediary. The deadline ended on July 4.

Twitter has moved the Karnataka high court challenging the central government's order seeking withdrawal of certain content from its platform that allegedly violate Section 69A of the IT Act.
In its writ petition, the microblogging site has reportedly called the blocking orders&nbsp; "overbroad and arbitrary".
The accounts and content that Twitter has been asked to pull down include those pertaining to the nationwide farmers' protest against the three farm laws passed by the Centre in 2020, COVID-19 management, and so on.&nbsp;
Also Watch| <a href="https://www.editorji.com/business-news/twitter-given-last-warning-by-the-indian-government-july-4-deadline-given-1656578572716" target="_blank">Twitter given 'last warning' by the Indian government, July 4 deadline given</a>
In a missive sent of June 27, the Ministry of Electronics and IT (MeitY) gave Twitter &ldquo;one last opportunity&rdquo; to comply with its blocking orders. The ministry warned that if content flagged by it is not taken down by the microblogging platform, the company will risk losing its immunity as an intermediary. The deadline ended on July 4.
The move came after the IT ministry proposed fresh amendments to rules governing intermediaries such as Facebook and Twitter. Key amendments include a proposal to set up government-appointed grievance committees with the power to review and revoke content moderation decisions taken by these companies.

The enforcement department conducted searches across more than 40 locations of Chinese mobile manufacturers including Vivo and other firms, in relation to the violation of the Prevention of Money Laundering Act (PMLA). 
According to reports, the raids were going on at various premises in Uttar Pradesh, Madhya Pradesh, Bihar and a few southern states. 
This is the second big case that the ED has registered against a Chinese company. Earlier it had booked Chinese mobile manufacturer Xiaomi, for allegedly making illegal foreign remittances in violation of the Foreign Exchange Management Act. 
The scrutiny against Chinese firms tightened after tensions at the border between the two countries in 2020, leading to multiple rounds of talks. More than 200 mobile apps, including TikTok, have been banned since then. 

Crackdown on Chinese firms; ED raids 44 locations of Vivo  

The Enforcement Directorate conducted searches across more than 40 locations of Chinese mobile manufacturers including Vivo and other firms, in relation to the violation of the Prevention of Money Laundering Act (PMLA). 

The development comes amid the government's increased scrutiny for businesses that trace their origin to the neighboring country&nbsp;

The Enforcement Directorate conducted searches across more than 40 locations of Chinese mobile manufacturers including Vivo and other firms, in relation to the violation of the Prevention of Money Laundering Act (PMLA).&nbsp;
According to reports, the raids were going on at various premises in Uttar Pradesh, Madhya Pradesh, Bihar and a few southern states.&nbsp;
This is the second big case that the ED has registered against a Chinese company. Earlier it had booked Chinese mobile manufacturer Xiaomi, for allegedly making illegal foreign remittances in violation of the Foreign Exchange Management Act.&nbsp;
The scrutiny against Chinese firms tightened after tensions at the border between the two countries in 2020, leading to multiple rounds of talks. More than 200 mobile apps, including TikTok, have been banned since then.&nbsp;

Android Automotive is an operating system that can power a car's instrument cluster and infotainment system.

BMW cars will adopt Android Automotive from 2023

Android Automotive is an operating system that can power a car's instrument cluster and infotainment system.

From March 2023, BMW will start developing its BMW Operating System 8, an infotainment software based on Google&rsquo;s Android Automotive.&nbsp;
The company now joins other prominent automakers such as Volvo, Honda, General Motors and Ford in announcing the development of Android Automotive-based car infotainment systems.
BMW&rsquo;s current infotainment system is based on Linux.&nbsp;
Android Automotive is a full-fledged operating system for cars that can be built into instrument clusters and infotainment systems. It is not to be confused with Android Auto, which only connects your phone to your car's dashboard.
Also watch: <a title="5 problems with viral 'flying hotel' design: nuclear-powered giant plane impossible to make?" href="https://www.editorji.com/tech-news/5-problems-with-viral-flying-hotel-design-nuclear-powered-giant-plane-impossible-to-make-1656588701924">5 problems with viral 'flying hotel' design: nuclear-powered giant plane impossible to make?</a>

A fraud  that is unmatched in India, hit by it 17 banks that were defrauded of Rs 34,000 cr allegedly by the promoters of Dewan Housing Finance Corporation Ltd (DHFL), Kapil Wadhawan and Dheeraj Wadhawan.It exploded in 2019, when digital platform 'Cobrapost' claimed to have unearthed what it titled - 'India's biggest financial scam' perpetuated as per their expose by the then promoters of the company.  Cobrapost claimed that the scam has primarily been pulled off through grants of loans and advances to shell companies and by using other means leaving a large consortium of banks led by Union Bank with bad debt of over Rs 31,000 cr. A lot is at stake as this news breaks as DHFL is a listed NBFC in the business of lending money especially to promoters who are reportedly engaged in slum rehabilitation, housing development and other real estate businessCobrapost then went on to give pages worth of investigative material supporting their claim of a massive loan fraud. Lenders obviously panic and call for a special meeting and on  February 1, 2019 appointed KPMG to conduct a "special review audit" of DHFL from April 1, 2015 to December 31, 2018. Reportedly, KPMG, in its audit, red-flagged diversion of funds in the garb of loans and advances to related and interconnected entities and individuals of DHFL and its directors. 
The promoters of erstwhile DHFL, Kapil and Dheeraj Wadhawan are currently in jail in connection with the cases registered by CBI and the Enforcement Directorate for the alleged fraud caused to Yes Bank n connivance with the bank's cofounder Rana Kapoor who is also lodged at Taloja jail on the outskirts of Mumbai.
 

DHFL fraud: Yes Bank to PM Housing Scheme, Rs 34,000 cr scam explained

DHFL fraud: Yes Bank to PM Housing Scheme, Rs 34,000 cr scam detailed

CBI has booked former promoters of Dewan Housing Finance Corporation Ltd (DHFL), Kapil Wadhawan and Dheeraj Wadhawan

A fraud&nbsp; that is unmatched in India, hit by it 17 banks that were defrauded of Rs 34,000 cr allegedly by the promoters of Dewan Housing Finance Corporation Ltd (DHFL), Kapil Wadhawan and Dheeraj Wadhawan. It exploded in 2019, when digital platform 'Cobrapost' claimed to have unearthed what it titled - 'India's biggest financial scam' perpetuated as per their expose by the then promoters of the company.&nbsp; Cobrapost claimed that the scam has primarily been pulled off through grants of loans and advances to shell companies and by using other means leaving a large consortium of banks led by Union Bank with bad debt of over Rs 31,000 cr.&nbsp; A lot is at stake as this news breaks as DHFL is a listed NBFC in the business of lending money especially to promoters who are reportedly engaged in slum rehabilitation, housing development and other real estate business Cobrapost then went on to give pages worth of investigative material supporting their claim of a massive loan fraud.&nbsp; Lenders obviously panic and call for a special meeting and on February 1, 2019 appointed KPMG to conduct a "special review audit" of DHFL from April 1, 2015 to December 31, 2018. Reportedly, KPMG, in its audit, red-flagged diversion of funds in the garb of loans and advances to related and interconnected entities and individuals of DHFL and its directors.&nbsp; Auditor Grant Thornton also in its 98-page report reportedy detailed the mode of operation of "round tripping" of funds through fake loans which focuses on 91 entities wherein the auditor found that no collateral or security was obtained before the grant of these loans. In total, 2.60 lakh "fake and fictitious" home loan accounts were created and over Rs 11,000 cr was 'disbursed'.
The promoters of erstwhile DHFL, Kapil and Dheeraj Wadhawan are currently in jail in connection with the cases registered by CBI and the Enforcement Directorate for the alleged fraud caused to Yes Bank n connivance with the bank's cofounder Rana Kapoor for allegedly involving kickbacks for investing in DHFL. Rana Kapoor is also lodged at Taloja jail on the outskirts of Mumbai.
To add to that agency has now unearthed a scam linked to the Pradhan Mantri Awas Yojana (PMAY). According to the CBI, Kapil and Dheeraj Wadhawan created "fake and fictitious" home loan accounts amounting to over Rs 14,000 crore and availed Rs 1,880 crore in interest subsidy from the Government of India. The CBI has named DHFL, Kapil Wadhawan, Dheeraj Wadhawan along with 13 others and they have been booked on charges of cheating, fraud and under relevant sections of the Prevention of Corruption Act.

After leading the pack as one of the most expensive cities to live in, New York's rent regulation panel approved o hike rents on more than one million rent stabilized apartments. 
According to a report, a city resident needs to make a salary of $110,000 to afford the median asking rent of $2,750 for available apartments, meaning putting no more than 30% of one’s gross income toward housing. 
Soaring inflation has hit tenants and property owners, and the effect on landlords’ ability to maintain buildings was one of the major factors that the board considered. 

NYC rents skyrocket: Only 1 out of 5 full-time workers can afford it  

New York's rent regulation panel has approved to hike rents on more than one million rent stabilized apartments by 3.2%, the biggest jump in 10 years. 

2.4 million New York City tenants will face the biggest rent hikes they&rsquo;ve seen in nearly a decade

For those hoping to get an affordable rent-controlled flat like Carrie-Bradshaw or Monica and Rachel, that may be a distant dream now. 2.4 million New York City tenants will face the biggest rent hikes they&rsquo;ve seen in nearly a decade.&nbsp; New York's rent regulation panel has approved to hike rents on more than one million rent stabilized apartments by 3.2%, the biggest jump in 10 years.&nbsp;
Also read/watch| <a title="Price of scooter and bikes to be hiked from July 1" href="https://www.editorji.com/business-news/price-of-scooter-and-bikes-to-be-hiked-from-july-1-1656052341071">Price of scooter and bikes to be hiked from July 1</a> As per experts, if you wanted to rent an apartment in NY city you will need to shell out the average asking rent of $2,750 per month for available apartments. Bloomberg cites a New York City Department of Housing Preservation and Development report that found only 23% of full-time workers in the city can afford median rent. So only 1 out of 5 full-time workers can afford to live in the city that does not sleep.&nbsp;

Germany, Europe's biggest economy, is at the brink of a energy crisis as supplies from Russia dwindle. Germany has raised the risk level in its national gas emergency plan to the second-highest &ldquo;alarm&rdquo;.&nbsp;Russia's state gas company Gazprom slashed flows through the Nord Stream 1 pipeline to Germany by 60% starting June 14&ldquo;We mustn&rsquo;t delude ourselves: cutting gas supplies is an economic attack on us by Putin,&rdquo; Economy Minister Robert Habeck said. &ldquo;We defend ourselves against this. But it will be a rocky road that we as a country now have to walk. Even if you don&rsquo;t really feel it yet: we are in a gas crisis."&nbsp;The third and highest &ldquo;emergency&rdquo; level would involve state control over distribution and bring back 'rationing' of scarce commodities. Germany gas-storage facilities, are currently around 58% and require 100 days at current rate to be back upto average level of 90%.&nbsp;Germany, which relies on Russia for more than a third of its gas supplies, had previously sought to maintain robust energy ties with Moscow despite rising sanctions.&nbsp;

Germany triggers ‘alert level’ of emergency gas plan; EU says Russia weaponising energy


Russia's state gas company Gazprom slashed flows through the Nord Stream 1 pipeline to Germany by 60% last week.

Explained: Germany one step away from rationing gas, Russia cuts supply

Europe&rsquo;s largest economy now sees a high risk of long-term gas supply shortages.

Germany, Europe's biggest economy, is at the brink of a energy crisis as supplies from Russia dwindle. Germany has raised the risk level in its national gas emergency plan to the second-highest &ldquo;alarm&rdquo;.&nbsp; Russia's state gas company Gazprom slashed flows through the Nord Stream 1 pipeline to Germany by 60% starting June 14 &ldquo;We mustn&rsquo;t delude ourselves: cutting gas supplies is an economic attack on us by Putin,&rdquo; Economy Minister Robert Habeck said. &ldquo;We defend ourselves against this. But it will be a rocky road that we as a country now have to walk. Even if you don&rsquo;t really feel it yet: we are in a gas crisis."&nbsp; The third and highest &ldquo;emergency&rdquo; level would involve state control over distribution and bring back 'rationing' of scarce commodities. Germany gas-storage facilities, are currently around 58% and require 100 days at current rate to be back upto average level of 90%.&nbsp; Germany, which relies on Russia for more than a third of its gas supplies, had previously sought to maintain robust energy ties with Moscow despite rising sanctions.&nbsp;

Media Baron, 91 year old Murdoch is headed for his fourth divorce after 6-years of marriage with model Jerry Hall. Murdoch who controls a media empire that includes cable channel Fox News, The Times of London and The Wall Street Journal, is no stranger to divorce was previously married to Wendi Deng from 1999 to 2013; Anna Maria Torv from 1967 to 1999; and Patricia Booker, from 1956 to 1967. 
 Rupert Murdoch Jerry HallWendi Deng Murdoch Mick Jagger Brent LangThu, June 23, 2022, 12:31 AM·2 min read  In this article: 
   
   
   
   Rupert MurdochAustralian-born American media mogul Jerry HallAmerican actressWendi Deng MurdochChinese-American businesswoman (1968-) Mick JaggerEnglish songwriter, singer of The Rolling Stones   Rupert Murdoch and Jerry Hall are divorcing after six years of marriage.
The 91-year-old media mogul and the 65-year-old model tied the knot in 2016. It was Murdoch’s fourth marriage. He was previously married to Wendi Deng from 1999 to 2013; Anna Maria Torv from 1967 to 1999; and Patricia Booker, from 1956 to 1967. Hall had been married to Mick Jagger, the rock star and lead singer of the Rolling Stones.Hall is a supermodel who also acted in such films as Tim Burton’s “Batman” and starred as Mrs. Robinson in a Broadway production of “The Graduate. Jerry Hall was also previously married to Mick Jagger, the rock star and lead singer of the Rolling Stones.Ranked 265th on the Bloomberg Billionaire Index, Murdoch is reportedly worth $7.5 billion. 

Media Moghul Rupert Murdoch heads for 4th divorce at 91

Media Mogul Rupert Murdoch heads for 4th divorce at 91

Rupert Murdoch and Jerry Hall, a former top model, are reportedly set to divorce.

Media Baron, 91 year old Rupert Murdoch is headed for a divorce after 6-years of marriage with model Jerry Hall. Murdoch who controls a media empire that includes cable channel Fox News, The Times of London and The Wall Street Journal, is no stranger to divorce was previously married to Wendi Deng from 1999 to 2013; Anna Maria Torv from 1967 to 1999; and Patricia Booker, from 1956 to 1967.
 Also read/watch| <a title="Did Uber explore selling India unit?" href="https://www.editorji.com/business-news/did-uber-explore-selling-india-unit-1655966484985">Did Uber explore selling India unit?</a> Hall is a supermodel who also acted in such films as Tim Burton&rsquo;s &ldquo;Batman&rdquo; and starred as Mrs. Robinson in a Broadway production of &ldquo;The Graduate. Jerry Hall was also previously married to Mick Jagger, the rock star and lead singer of the Rolling Stones. Ranked 265th on the Bloomberg Billionaire Index, Murdoch is reportedly worth $7.5 billion.&nbsp;

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;

It is not just the tech titans are taking home the big moneys! A recent survey by Deloitte India shows that the average compensation of CEOs is now the highest in 3 years averaging over Rs 11 crores. There is a also a big difference between the top boss and other senior management. As per the Deloitte India Executive Remuneration Survey.  the average compensation for the CEOs was 2.7 times that of chief financial officers, 3.7 times that of business unit heads, and 4.1 times that of chief human resource officers. The closes to a CEO compensation is the post of COO but is still with a with a wide margin as the Chief Executive Officer on average in FY22 was paid 2.4 times what a COO was handed out. The report also highlights that on average, more than half of the total compensation for CEOs is variable. The survey covered more than 470 companies across manufacturing, consumer products, IT, ITeS, services, life sciences and financial services sector
 

CEO salary now averages Rs 11 cr a year, highest in 3 years: Deloitte Survey

A recent survey by Deloitte India shows that the average compensation of CEOs is now the highest in 3 years. 

This is what an average CEO salary in India is...

As per the Deloitte India Executive Remuneration Survey.&nbsp; the average compensation for the CEOs was 2.7 times that of chief financial officers

It is not just the tech titans who are taking home the big money! A recent survey by Deloitte India shows that the average compensation of CEOs is now the highest in 3 years averaging over Rs 11 crores.&nbsp; There is also a big difference between the top boss and other senior management. As per the Deloitte India Executive Remuneration Survey.&nbsp; the average compensation for the CEOs was 2.7 times that of chief financial officers, 3.7 times that of business unit heads, and 4.1 times that of chief human resource officers.&nbsp;
Also read/watch| <a title="Grasping at straws! Juice boxes face big problems, squeezed by deadline" href="https://www.editorji.com/business-news/grasping-at-straws-juice-boxes-face-big-problems-squeezed-by-deadline-1655867088422">Grasping at straws! Juice boxes face big problems, squeezed by deadline</a> The closes to a CEO compensation is the post of COO but is still with a with a wide margin as the Chief Executive Officer on average in FY22 was paid 2.4 times what a COO was handed out. The report also highlights that on average, more than half of the total compensation for CEOs is variable. The survey covered more than 470 companies across the manufacturing, consumer products, IT, ITeS, services, life sciences and financial services sectors.&nbsp;

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Life Insurance Corporation or LIC of India received three times subscriptions for its IPO from May 4 to 9. Well, now the focus shifts to whether or not the subscribers received the allotment. Here's how you can check the allotment for LIC IPO which is expected on May 12, 2022:
1. Via registrar KFin Technologies website
- Go to the Link Intime India website
- Click on 'public issues'
- Select the company name as LIC IPO from the drop-down list
- Check box either PAN, Application Number or Depository/Client ID, accordingly, enter the details
- Click the submit button
- It will show the number of shares that have been applied and allotted to the investor
2. Via BSE website
- Go to the BSE website
- Select ‘equity’ as the issue type, and ‘LIC’ as the issue name from the drop-down list
- Enter the application number and PAN 
- Click on ‘I am not a Robot’
- In the last step, click on the search tab to view the status details

LIC IPO: How to check allotment status

LIC IPO was subscribed three times and now it's time to check whether or not you got the allotment.

LIC IPO allotment

LIC opened the biggest IPO in India as the government offered shares to raise Rs 21,000 crore.

<h4>Life Insurance Corporation or LIC&nbsp;of India received three times subscriptions for its IPO&nbsp;from May 4 to 9. Well, now the focus shifts to whether&nbsp;or not the subscribers received the allotment. Here's how you can check the allotment for LIC&nbsp;IPO: Via BSE website</h4>
<ul>
<li>Go to the&nbsp;BSE website</li>
<li>Select &lsquo;equity&rsquo; as the issue type, and &lsquo;LIC&rsquo; as the issue name from the drop-down list</li>
<li>Enter the application number and PAN</li>
<li>Click on &lsquo;I am not a Robot&rsquo;</li>
<li>In the last step, click on the search tab to view the status details</li>
</ul>
<h4>Via&nbsp;registrar KFin Technologies website</h4>
<ul>
<li>Go to the Link Intime India website</li>
<li>Click on 'public issues'</li>
<li>Select the company name as LIC IPO&nbsp;from the drop-down list</li>
<li>Check box either PAN, Application Number or Depository/Client ID, accordingly, enter the details</li>
<li>Click the submit button</li>
<li>It will show the number of shares that have been applied and allotted to the investor</li>
</ul>
LIC IPO was 2.95 times oversubscribed. The share for policyholders was 6.12 times subscribed, followed by 4.4 times for employee quota bidding. The HNI and QIB quotas were oversubscribed twice.&nbsp;
&nbsp;

Households may see some reprieve as the centre govt has asked the edible oil manufacturing to cut the maximum retail price (MRP) of imported cooking oils by up to Rs 10 per litre. 
The government told the companies to implement the change in prices within a week. 
This move came after the prices of edible oils had reduced significantly in the international market in the last few days.
India annually imports 8-8.5 million tonnes palm oil. Almost 45-50% of palm oil comes from Indonesia and the rest from neighbouring Malaysia.

Relief from burning high prices, edible oil prices to get cheaper 

The central government told the companies to implement the change in prices within a week

Households may see some reprieve as the central govt has asked edible oil manufacturers to cut the maximum retail price (MRP) of imported cooking oils by upto Rs 10-15 per litre.&nbsp;
The government has told the companies to implement the change in prices within a week.&nbsp;
This move came after the prices of edible oils reduced significantly in the international market in the last few days.
India annually imports 8-8.5 million tonnes palm oil. Almost 45-50% of palm oil comes from Indonesia and the rest from neighbouring Malaysia.

Good news are apparently in order for Elon Musk: The Tesla chief executive had twins in November with Shivon Zilis, a top executive at his company Neuralink. 
The news of the twins’ arrival, reported by Insider, brings Musk’s total brood count to nine.Musk allegedly had his eighth and ninth children with Shivon Zilis, who works at Neuralink, the company that is looking into human brain microchip technology.Insider claims the court documents reveal Musk and Zilis filed a petition to change the names of the twins. They wanted the newborns to 'have their father's last name and contain their mother's last name as part of their middle name'.Zilis currently works as director of operations and special projects for Neuralink.

Elon Musk had twins with his company executive: Report

The news of the twins&rsquo; arrival, first reported Wednesday by Insider, brings Musk&rsquo;s total brood count to nine.

Good news are apparently in order for Elon Musk: The Tesla chief executive had twins in November with Shivon Zilis, a top executive at his company Neuralink.
The news of the twins&rsquo; arrival, reported by Insider, brings Musk&rsquo;s total brood count to nine. Musk allegedly had his eighth and ninth children with Shivon Zilis, who works at Neuralink, the company that is looking into human brain microchip technology. Insider claims the court documents reveal <a href="https://www.editorji.com/business-news/elon-musk-scolded-by-his-mother-on-twitter-1652067036891" target="_blank">Elon Musk</a> and Zilis filed a petition to change the names of the twins. &nbsp; They wanted the newborns to 'have their father's last name and contain their mother's last name as part of their middle name'. Zilis currently works as director of operations and special projects for Neuralink.

SpiceJet will now be "doubly careful" and strengthen inspection of aircraft before they leave to operate flights, airline's CMD Ajay Singh said on Wednesday.
Aviation regulator DGCA issued a showcause notice to SpiceJet on Wednesday following eight technical malfunction incidents involving the airline's planes in the last 18 days.
"We will work with them (DGCA) to ensure that if they feel that there are any gaps at all in our system, we will address them. There is nothing more important than safety," Singh told PTI in an interview.
He said none of the incidents that have happened in the last few weeks have anything to do with shortage of spare parts.
The Directorate General of Civil Aviation (DGCA), in its show-cause notice, mentioned the financial audit of SpiceJet in September 2021 according to which the airline is not paying component vendors regularly and that has led to shortage of spare parts.
"A lot of these incidents that are being reported are relatively minor in nature and happen to every airline. This is nothing unique," he said.
When you have thousands of flights, sometimes the air conditioning will fail, sometimes a bird will hit the plane, and sometimes a fuel indicator will light up, he said.
"These things are going to happen and, of course, we have to minimise that to the greatest extent possible. That is our job and it is the regulator's job to push us to make things better, which we will do," he said.
When asked what changes SpiceJet will now undertake to deal with the safety concerns, he said, "We have to be doubly careful. We will rigorously inspect aircraft when they leave for a flight, which we already do, but we will strengthen the inspection." He said SpiceJet has asked the DGCA to take a look into the working of the airline because the processes that it follows have been audited several times by the regulator and in the 15 years that SpiceJet has flown, there has been nothing significant that has really transpired on its aircraft.
In its show-cause notice to SpiceJet, the DGCA said the airline has failed to "establish safe, efficient and reliable air services" under the terms of Rule 134 and Schedule XI of the Aircraft Rules, 1937.
On Tuesday, the airline's Delhi-Dubai flight was diverted to Karachi due to a malfunctioning fuel indicator and its Kandla-Mumbai flight did priority landing in Maharashtra's capital city after cracks developed on its windshield mid-air.

'Malfunctions not unique but will be doubly careful': SpiceJet boss Ajay Singh

SpiceJet will now be "doubly careful" and strengthen inspection of aircraft before they leave to operate flights, airline's CMD Ajay Singh said on Wednesday after aviation regulator DGCA issued the airline showcause notice over safety concerns. 

In its show-cause notice to SpiceJet, the DGCA said the airline has failed to "establish safe, efficient and reliable air services" under the terms of Rule 134 and Schedule XI of the Aircraft Rules, 1937.

SpiceJet will now be "doubly careful" and strengthen inspection of aircraft before they leave to operate flights, airline's CMD Ajay Singh said on Wednesday.
Aviation regulator DGCA issued a showcause notice to SpiceJet on Wednesday following eight technical malfunction incidents involving the airline's planes in the last 18 days.
"We will work with them (DGCA) to ensure that if they feel that there are any gaps at all in our system, we will address them. There is nothing more important than safety," Singh told PTI in an interview.
He said none of the incidents that have happened in the last few weeks have anything to do with shortage of spare parts.
The Directorate General of Civil Aviation (DGCA), in its show-cause notice, mentioned the financial audit of SpiceJet in September 2021 according to which the airline is not paying component vendors regularly and that has led to shortage of spare parts.
"A lot of these incidents that are being reported are relatively minor in nature and happen to every airline. This is nothing unique," he said.
When you have thousands of flights, sometimes the air conditioning will fail, sometimes a bird will hit the plane, and sometimes a fuel indicator will light up, he said.
"These things are going to happen and, of course, we have to minimise that to the greatest extent possible. That is our job and it is the regulator's job to push us to make things better, which we will do," he said.
When asked what changes SpiceJet will now undertake to deal with the safety concerns, he said, "We have to be doubly careful. We will rigorously inspect aircraft when they leave for a flight, which we already do, but we will strengthen the inspection." He said SpiceJet has asked the DGCA to take a look into the working of the airline because the processes that it follows have been audited several times by the regulator and in the 15 years that SpiceJet has flown, there has been nothing significant that has really transpired on its aircraft.
In its show-cause notice to SpiceJet, the DGCA said the airline has failed to "establish safe, efficient and reliable air services" under the terms of Rule 134 and Schedule XI of the Aircraft Rules, 1937.
On Tuesday, the airline's Delhi-Dubai flight was diverted to Karachi due to a malfunctioning fuel indicator and its Kandla-Mumbai flight did priority landing in Maharashtra's capital city after cracks developed on its windshield mid-air.

Days, after swiggy delivery man left the internet amazed after a video of him going for delivery on a horse, the food delivery app shows its creativity by showing delivery executive coming on a horse. 
Netizens on twitter post screenshots of food orders which reads '' when it comes to delivering your order, we really can't hold our horses''. 
A few days ago, a delivery agent took no contact delivery to another level after he was seen delivering food packages on a horseback amid Mumbai rains.
The food delivery bag had Swiggy’s logo monogrammed on it.
 
 
 

Why Swiggy 'cannot hold its horses' while delivering your food

Swiggy can't hold its horses; shows creativity by delivery partner riding horse

Recently a video of a boy --- apparently a swiggy delivery executive --- riding on a horse to deliver food amidst Mumbai rain became viral on social media.&nbsp;

Days after a Swiggy delivery executive left the internet amazed by delivering food on a horse, the food delivery app showed its creativity by changing the animation that appears after you order food.&nbsp;
Instead of the delivery executive riding a two-wheeler, the animation shows him riding a horse.&nbsp;
Netizens on Twitter, posted screenshots of food orders with a message from Swiggy saying 'when it comes to delivering your order, we really can't hold our horses.'
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LPG Cylinder Price Hike: Adding another addition to the expesnse list, price of a domestic 14.2 kg LPG cylinder has been increased by Rs 50 per cylinder with effect from 6th July. 

LPG Cylinder Price Hike: Pay Rs 50 more per cylinder from today

LPG Cylinder Price Hike: Pay Rs 50 more per cylinder from today

LPG Cylinder Price: In the last one year, the rate of domestic LPG (LPG) cylinders in Delhi has increased from Rs 834.50 to Rs 1003

LPG Cylinder Price Hike: Adding another addition to the expesnse list, price of a domestic 14.2 kg &nbsp;Liquefied petroleum gas (LPG) cylinder has been increased by Rs 50 per cylinder with effect from 6th July.&nbsp;
Besides, the price of a 5kg domestic cylinder will increase by Rs 18 per cylinder.
 Also read/watch| <a title="Ola may layoff up to 500 employees amid funding winter" href="https://www.editorji.com/business-news/ola-may-layoff-up-to-500-employees-amid-funding-winter-1657077904703">Ola may layoff up to 500 employees amid funding winter</a> In Mumbai, the price of a domestic <a href="https://www.editorji.com/business-news/lpg-cylinder-price-cut-today-19-kg-commercial-cylinder-becomes-cheaper-1656643965335" target="_blank">LPG cylinder</a> will now cost Rs 1,052.50 whereas in Delhi, it will now cost Rs 1053. Meanwhile, the price of a 19kg commercial cylinder has been cut down by Rs 8.5 per cylinder.&nbsp;
In the last one year, the rate of domestic LPG (LPG) cylinders in Delhi has increased from Rs 834.50 to Rs 1003.&nbsp; The rate of 14.2 kg domestic LPG (LPG) cylinder was last increased by Rs 4 on May 19, 2022. Earlier on May 7 in Delhi, the rate was Rs 999.50 per cylinder.&nbsp;

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LIC IPO allotment today: Here is how to check if you got shares

Life Insurance Corporation or LIC of India received three times subscriptions for its IPO from May 4 to 9. Well, now the focus shifts to whether or not the subscribers received the allotment. Here's how you can check the allotment for LIC IPO:

Via BSE website

Via registrar KFin Technologies website

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