It may be a funding winter for startups but the news around the biggest of them all; Byju's is giving onlookers chills. From hundreds being fired from recently acquired units to a delay in a billion-dollar payment, the next chapter in Byju's success story is a cautionary tale. At $22 billion Byju's is India's most valued startup and the edtech giant has been on a warpath of acquisitions which are now proving to be a painpoint. News of delayed payment set-off alarms on cash flow issues for the Bangalore based startup. Reports indicate that Byju’s asked for extending the deadline for making parts of the payments for a ~$1 billion acquisition of Aakash, a 34-year-old chain of physical coaching centres, it announced over a year ago.But having spent $2.5 billon on acquisitions, Akash's deal is not the only one that turning to be a bother reportedly. In one week alone, units acquired by Byju's have fired over 1500 employees as per media reports. From coding platform WhiteHat Jr and exam-prep platform Toppr (both pandemic buys for Byju's) the layoffs have been sudden and largescale. The company has maintained, this is a 'restructuring' not a cost cutting and also disputed the number of employees affected. Byjus is not alone in the sacking spree, 30 startups in 6 months have let go of over 10,000 employees in India. 

Is Byju's in big trouble?

Is India's most valued startup Byju's in big trouble? News of delayed payments and large sacking has onlookers worried 

Byju's behind on payments, cutting costs?

Cuts hundreds of jobs and delays a big payment for acquisition.&nbsp;

It may be a funding winter for startups but the news around the biggest of them all; Byju's is giving onlookers chills. From hundreds being fired from recently acquired units to a delay in a billion-dollar payment, the next chapter in Byju's success story is a cautionary tale.&nbsp; At $22 billion Byju's is India's most valued startup and the edtech giant has been on a warpath of acquisitions which are now proving to be a painpoint.&nbsp; News of delayed payment set-off alarms on cash flow issues for the Bangalore based startup. Reports indicate that Byju&rsquo;s asked for extending the deadline for making parts of the payments for a ~$1 billion acquisition of Aakash, a 34-year-old chain of physical coaching centres, it announced over a year ago. But having spent $2.5 billon on acquisitions, Akash's deal is not the only one that turning to be a bother reportedly. In one week alone, units acquired by Byju's have fired over 1500 employees as per media reports. From coding platform WhiteHat Jr and exam-prep platform Toppr (both pandemic buys for Byju's) the layoffs have been sudden and largescale. The company has maintained, this is a 'restructuring' not a cost cutting and also disputed the number of employees affected.&nbsp; Byjus is not alone in the sacking spree, 30 startups in 6 months have let go of over 10,000 employees in India.&nbsp;

The government on Friday announced an increase in taxes on the export of petrol, diesel, and aviation turbine fuel (ATF). The centre has also mandated exporters to meet the requirements of the domestic market first. The government has levied a&nbsp;₹6 per litre tax on exports of petrol and ATF and&nbsp;₹13 per litre on exports of diesel.This has a big impact on Mukesh Ambani backed Reliace Industries and state-owned ONGC who are the largest crude&nbsp; exporters for India.The government also slapped a ₹23,230 per tonne additional tax on domestically produced crude oil to take away windfall gains accruing to producers from high international oil prices.
The tax on exports follows oil refiners, particularly the private sector, reaping huge gains from exporting fuel to markets such as Europe and the US.
The tax on domestically produced crude oil follows local producers reaping windfall gains from the surge in international oil prices.

Breaking News: Govt raises taxes on export of ATF, diesel and petrol

The government on Friday announced an increase in taxes on the export of petrol, diesel, and aviation turbine fuel (ATF).

Taxing times for Mukesh Ambani

The tax on exports follows oil refiners, particularly the private sector, reaping huge gains from exporting fuel

The government on Friday announced an increase in taxes on the export of petrol, diesel, and aviation turbine fuel (ATF). The centre has also mandated exporters to meet the requirements of the domestic market first. The government has levied a&nbsp;₹6 per litre tax on exports of petrol and ATF and&nbsp;₹13 per litre on exports of diesel. This has a big impact on Mukesh Ambani backed Reliace Industries and state-owned ONGC who are the largest crude&nbsp; exporters for India. The government also slapped a ₹23,230 per tonne additional tax on domestically produced crude oil to take away windfall gains accruing to producers from high international oil prices.
The tax on exports follows oil refiners, particularly the private sector, reaping huge gains from exporting fuel to markets such as Europe and the US.
The tax on domestically produced crude oil follows local producers reaping windfall gains from the surge in international oil prices.

In a bid to curtail spiralling rupee and rising trade deficit, the government has raised the basic import tax on gold sharply. The govt announced that import tax on gold will be hiked by 5 percent&nbsp; to 12.5 per cent from 7.5 per cent.India is the second-largest importer of gold globally.&nbsp;imported the most gold in a decade in 2021, according to the World Gold Council.&nbsp;As per data available India imported gold worth $ 46 billion during April-March 2022. T he imports are largely driven by the jewellery industry which grew by about 50 per cent to about $39 billion last fiscal.&nbsp;

Import tax on gold hiked from 7.5% to 12.5%

In a bid to curtail the spiralling rupee and rising trade deficit, the government has raised the basic import tax on gold sharply.

India is the world's second-largest gold importer&nbsp;

In a bid to curtail spiralling rupee and rising trade deficit, the government has raised the basic import tax on gold sharply. The govt announced that import tax on gold will be hiked by 5 percent&nbsp; to 12.5 per cent from 7.5 per cent. India is the second-largest importer of gold globally.&nbsp;imported the most gold in a decade in 2021, according to the World Gold Council.&nbsp; As per data available India imported gold worth $ 46 billion during April-March 2022. T he imports are largely driven by the jewellery industry which grew by about 50 per cent to about $39 billion last fiscal.&nbsp;

New Wage (Labour) Code 2022: The New Wage Code would affect your take-home salary and your PF savings in a big way. Editorji breaks down the Wage Code and if you are impacted by it. 

New Wage (Labour) Code 2022 : Your salary, PF and work timings can change from today

New Wage Code: Your salary, PF and work timings can change from today. Higher basic, lower allowance and the option of a 4-day week...it is all here. 

The New Wage Code Explained

23 states have pre-published draft rules on these laws, while the Centre has completed the process of finalising the draft rules on these codes in February 2021.&nbsp;

New Labour Code 2022: The New Wage Code would affect your take-home salary and your PF savings in a big way. Editorji breaks down the Wage Code and if you are impacted by it.&nbsp; The government's notification on Code on Wages 2019 may reduce the take-home pay while components like PF and Gratuity might rise. This is based on the grounds that the new wage code mentions provision entailing that the employee's basic salary will be at least 50 percent of his/her net monthly CTC. Hence, if this provision comes into effect, it will mean that employees will not be able to get more than 50 percent of his/her net monthly salary in form of an allowance.
Also read/watch| <a title="Business Briefs: Maruti's Brezza launch to hot news in a cup from Reliance" href="https://www.editorji.com/business-news/markets/business-briefs-maruti-s-brezza-launch-to-hot-news-in-a-cup-from-reliance-1656644411170">Business Briefs: Maruti's Brezza launch to hot news in a cup from Reliance</a> A big boost also comes in as the code directs companies to pay all the dues as well as the full and final settlement to employees within two days of the resignation, dismissal or retirement. Reducing the drag that many changing jobs face. What may be a sweeping change, under the new rules, daily and weekly working hours have been capped at 12 hours and 48 hours. This will allow companies to bring in 4-day workweeks, while overtime has been increased from 50 hours to 125 hours in a quarter across industries. You will not get more leave but how ou 'earn it' is set to change.&nbsp; As per the <a href="https://www.editorji.com/business-news/personal-finance/new-wage-code-your-salary-pf-and-work-timings-can-change-from-today-1656650444342" target="_blank">wage code</a>, employees will now earn a leave for every 20 days of work instead of 45. New employees will also be eligible to earn leaves after 180 days of employment instead of 240 days of work.&nbsp;
<a href="https://www.editorji.com/business-news/from-pan-to-crypto-tds-all-rules-changing-from-july-1-1656663994839" target="_blank">From PAN to crypto TDS; all rules changing from July 1</a>
Labour is a concurrent subject so even as the Centre sets out its notification, the states also have to do the same for it to be applicable. So far 23 states have framed state labour codes and rules based on the new Code on Wages, 2019.&nbsp;

In the latest news updates from the world of business and finance on July 1.Reliance's hot new foray: Mukesh Ambani owned Reliance brands announced a franchise partnership with Pret A Manger to launch and build the British sandwich and coffee chain in India, marking the company's foray into the booming food and beverage industry. Reliance will open the first Pret store in Mumbai as per reports. Maruti's New Brezza: With reportedly 45,000 bookings even before the launch, the Brezza is in top gear. The new Brezza with a price tag of Rs 7.99 lakh to Rs 13.96 lakh, comes with 6 airbags, 360 degree view camera and heads up display. Swiggy's Big Incentive Delivery: Food and grocery delivery platform will be buying back shares worth $23 million issued under its employee stock option program (ESOP). Swiggy also rolled out a new program, named Buy Your Own Dollar (BYOD), wherein employees of the food delivery decacorn can choose to invest inHero vs Hero: In a boost for Pawan Munjal led Hero Moto, reports indicate that the tribunal has dismissed the application filed by Hero Electric for an interim injunction against Hero MotoCorp for using the brand ‘Hero’ for its electric vehicles.SEBI slams fine:  Penalties totaling Rs 1.6 crore were imposed on seven entities, including Kotak Mahindra Trustee Company and Managing Director of Kotak AMC Nilesh Shah and fund manager Laxmi Iyer for flouting rules pertaining to mutual funds while investing in Essel Group companies.
 

Latest business News headline on July 1 2022

Business Briefs: Maruti's Brezza launch to hot news in a cup from Reliance

What's brewing in business?

The latest business news from corporates and markets

In the latest news updates from the world of business and finance on July 1. Reliance's hot new foray: <a href="https://www.editorji.com/business-news/mukesh-ambani-resigns-as-director-of-reliance-jio-akash-ambani-appointed-chairman-1656414415695" target="_blank">Mukesh </a>Ambani-owned&nbsp;Reliance brands announced a franchise partnership with Pret A Manger to launch and build the British sandwich and coffee chain in India, marking the company's foray into the booming food and beverage industry. Reliance will open the first Pret store in Mumbai as per reports.&nbsp; Maruti's New Brezza: With reportedly 45,000 bookings even before the launch, the Brezza is in top gear. The new Brezza with a price tag of Rs 7.99 lakh to Rs 13.96 lakh, comes with 6 airbags, a 360-degree view camera and a heads-up display.&nbsp; Swiggy's Big Incentive Delivery: Food and grocery delivery platform will be buying back shares worth $23 million issued under its employee stock option program (ESOP). Swiggy also rolled out a new program, named Buy Your Own Dollar (BYOD), wherein employees of the food delivery decacorn can choose to invest in Hero vs Hero: In a boost for Pawan Munjal-led Hero Moto, reports indicate that the tribunal has dismissed the application filed by Hero Electric for an interim injunction against Hero MotoCorp for using the brand &lsquo;Hero&rsquo; for its electric vehicles.
<a href="https://www.editorji.com/business-news/lpg-cylinder-price-cut-today-19-kg-commercial-cylinder-becomes-cheaper-1656643965335" target="_blank">LPG Cylinder Price Cut Today: 19-Kg Commercial Cylinder becomes cheaper</a> &nbsp; SEBI slams fine:&nbsp; Penalties totaling Rs 1.6 crore were imposed on seven entities, including Kotak Mahindra Trustee Company and Managing Director of Kotak AMC Nilesh Shah and fund manager Laxmi Iyer for flouting rules pertaining to mutual funds while investing in Essel Group companies.

LPG Gas Cylinder Price Cut Today: The price of 19-kg LPG cylinder has been slashed from July 1. The LPG cylinder is cheaper by Rs 198 in Delhi, 182 in Kolkata by Rs 190.50 in Mumbai and Rs 187 in Chennai. 

LPG Gas Cylinder Price Cut Today : 19-Kg Commercial Cylinder becomes cheaper

19-Kg Commercial Cylinder becomes cheaper, The price of a 14.2-kg domestic cooking cylinder has remained unchanged after two hikes in May. 

LPG Cylinder Price Cut 

19 kg commercial cylinder will be cheaper by Rs 198 per bottle

LPG Gas Cylinder Price Today: The price of 19-kg LPG cylinder has been slashed from July 1. The LPG cylinder is cheaper by Rs 198 in Delhi, 182 in Kolkata by Rs 190.50 in Mumbai and Rs 187 in Chennai.
The price of a 14.2-kg domestic cooking cylinder has remained unchanged after two hikes in May.&nbsp;
From today, the 19 kg commercial cylinder will be cheaper by Rs 198 per bottle. The price of a 19 kg commercial cylinder will now be Rs 2021 as against the earlier price of Rs 2,219 per bottle in Delhi, while in Kolkata it will be priecd at Rs 2140 instead of Rs 2,322 in Kolkata, Rs 1981 instead of Rs 2,171.50 in Mumbai and Rs 2186 instead of Rs 2,373 in Chennai.
Meanwhile, the rates of domestic <a href="https://www.editorji.com/business-news/lpg-cylinder-price-cut-today-19-kg-commercial-cylinder-becomes-cheaper-1656643965335" target="_blank">LPG cylinders</a> have remained high, putting pressure on consumers. The rate of domestic cylinders has remained idle since May 19, trading at Rs 1,003 in the national capital.
Also Watch / Read: <a href="https://www.editorji.com/business-news/personal-finance/gst-changes-your-household-budget-hit-here-is-what-is-more-expensive-1656557848088" target="_blank">47th GST Council Meet Highlights</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;

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As the Indian Rupee hit an all-time low of 77.53 against the U.S. Dollar, editorji talks to Flexi Capital to understand the sectors that are going to take a jolt and the others that will actually be benefitted.
We also discussed what has led to the fall in the domestic currency and how actually it is placed in comparison to other emerging market currencies.
What has China or Russia or Ukraine has to do? 
Even as the equity markets have been taking a toll due to the rising inflation worries, how must one place his/her portfolio?

Rupee & Your Portfolio: How to bet at these odd times, Flexi Capital explains

What has led to the fall in Indian Rupee and how actually it is placed in comparison to other emerging market currencies?

EJ Money Matters Ep 03

Does the falling equity markets seem like an opportunity to buy good quality stocks?

As the Indian Rupee hit an all-time low of 77.53 against the U.S. Dollar, editorji&nbsp;talks to Flexi&nbsp;Capital to&nbsp;understand the sectors that are going to take a jolt and the others that will actually be benefitted.
We also discussed what has led to the fall in the domestic currency and how actually it is placed in comparison to other emerging market currencies.
What has China or Russia or Ukraine has to do?&nbsp;
Even as the equity markets have been taking a toll due to the rising inflation worries, how must one place his/her portfolio?

A Delhi-Jabalpur SpiceJet aircraft had to return to the Delhi airport on Saturday morning after the cabin crew noticed smoke inside the plane.The smoke was noticed when the aircraft was flying at a height of 5,000ft. News agency ANI shared a video showing how passengers were fanning themselves with newspapers and airline booklets as the smoke entered the cabin.A SpiceJet spokesperson said all passengers deboarded the plane safely at Delhi airport. On June 19, a Delhi-bound Spicejet flight had to return to Patna airport after it caught fire hit by a bird.

On camera: smoke inside cabin forces Spicejet flight to return to Delhi

SpiceJet cabin smokes up at 5000 feet, flight turned around

Watch: Smoke fills up SpiceJet cabin mid-air

SpiceJet spokesperson: All the passengers have been safely disembarked

A Delhi-Jabalpur SpiceJet aircraft had to return to the Delhi airport on Saturday morning after the cabin crew noticed smoke inside the plane. The smoke was noticed when the aircraft was flying at a height of 5,000ft. News agency ANI shared a video showing how passengers were fanning themselves with newspapers and airline booklets as the smoke entered the cabin. A SpiceJet spokesperson said all passengers deboarded the plane safely at Delhi airport.&nbsp; On June 19, a Delhi-bound Spicejet flight had to return to Patna airport after it caught fire hit by a bird.
Also watch: <a href="https://www.editorji.com/business-news/indigo-cabin-crew-s-refusal-for-food-to-a-6-yr-old-leaves-internet-divided-1655807215843" target="_blank">IndiGo cabin crew's refusal for food to a 6-yr-old leaves internet divided</a>

Auto-Taxi Price Hike in Delhi : Transport Ministry announced that announced that the metre down fees for three wheelers, which had previously been set at Rs 25, would now be Rs 30. After that, every kilometre will cost Rs. 11 rather than Rs. 9.50. 

Auto-Taxi Price Hike in Delhi : Auto-Rickshaw, Taxi Fares hiked in Delhi

Auto and taxis in the national capital will now cost more. Here is how much meter down and per kilometre will cost you now. 

Auto, Taxi fares hiked in Delhi

"Based on the recommendations, we will be hiking the fares after Cabinet approval," Gahlot told PTI.

Auto-Taxi Price Hike: Auto and taxis in the national capital will now cost more. Reports indicate that officials of the Transport Ministry announced that announced that the metre down fees for three wheelers, which had previously been set at Rs 25, would now be Rs 30. After that, every kilometre will cost Rs. 11 rather than Rs. 9.50. The proposal will get a formal nod from the cabinet soon.&nbsp;
The metre down fee for taxis will also increase from Rs. 25 to Rs. 40.The per-kilometer fare for non-AC taxis would increase to Rs. 17 from Rs. 14 while the per-kilometer fare for AC taxis will increase to Rs. 20.
<a href="https://www.editorji.com/business-news/personal-finance/new-wage-code-your-salary-pf-and-work-timings-can-change-from-today-1656650444342" target="_blank">New Wage Code: Your salary, PF and work timings can change from today</a>
App-based aggregators had already hiked their prices while there had been no revision in the prices of auto-rickshaws and taxis, whose fares are regulated by the government.
The <a href="https://www.editorji.com/business-news/cng-price-hike-cng-price-increased-by-rs-2-per-kg-in-delhi-second-hike-in-less-than-a-week-1653097551181" target="_blank">price of CNG </a>has risen to Rs 75.61 per kg within a span of over six months. It was Rs 52.04 on January 1 this year.

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>

Facebook-parent Meta has reportedly warned employees of &ldquo;serious times&rdquo; ahead as it shared in an internal memo that it was time to be 'lean and mean' to face headwinds. Reuters reported that Meta chief product officer Chris Cox detailed the company&rsquo;s financial dilemma in an internal memo just a month after the company froze hiring to curtail costs. Here is what the internal memo stated:&nbsp;I have to underscore that we are in serious times here and the headwinds are fierce. We need to execute flawlessly in an environment of slower growth, where teams should not expect vast influxes of new engineers and budgets. We must prioritize more ruthlessly, be thoughtful about measuring and understanding what drives impact, invest in developer efficiency and velocity inside the company, and operate leaner, meaner, better exciting teams. - Chris Cox, Chief Product Officer.&nbsp;Reports on Reuters also stated that Mark Zuckerberg in the Q&amp;A that followed said that the tech giant is cutting down it's hiring targets for engineers next year from 10,000 to 6,000.&nbsp;

Internal memo revealed! Facebook to make bit cuts in hiring

Internal Facebook memo asks for ruthless prioritizing - 'time to be lean and mean' to face headwinds. Details here 

Meta Memo: 'Be Lean and Mean'; hiring targets cut

The note comes from chief product officer Chris Cox and outlines the company&rsquo;s priorities and challenges&nbsp;

Facebook-parent Meta has reportedly warned employees of &ldquo;serious times&rdquo; ahead as it shared in an internal memo that it was time to be 'lean and mean' to face headwinds. Reuters reported that Meta chief product officer Chris Cox detailed the company&rsquo;s financial dilemma in an internal memo just a month after the company froze hiring to curtail costs. Here is what the internal memo stated:&nbsp; I have to underscore that we are in serious times here and the headwinds are fierce. We need to execute flawlessly in an environment of slower growth, where teams should not expect vast influxes of new engineers and budgets. We must prioritize more ruthlessly, be thoughtful about measuring and understanding what drives impact, invest in developer efficiency and velocity inside the company, and operate leaner, meaner, better exciting teams. - Chris Cox, Chief Product Officer.&nbsp; Reports on Reuters also stated that Mark Zuckerberg in the Q&amp;A that followed said that the tech giant is cutting down it's hiring targets for engineers next year from 10,000 to 6,000.&nbsp;

Here are the three important changes in income tax rules that will come into effect from Friday, July 1, 2022:- 
1. PAN-Aadhaar Linking Fine to Increase
Those who have not yet linked their PAN Aadhaar will have to pay a fine of Rs 1,000 if they try to link both the documents from July 1. Till June 30, the fine has been capped at Rs 500. The Central Board of Direct Taxes has extended the deadline to link PAN-Aadhaar to March 23, but people will have to pay a fine of Rs 1,000 if it is done on or after July 1.
2. TDS on cryptocurrencies: After the imposition of 30 per cent flat income tax on cryptocurrencies from 1st April 2022, the GoI had proposed an additional 1 per cent TDS on cryptocurrency transactions in the union budget 2022, irrespective of the gain or loss incurred by the investor.
One per cent Tax Deduction at Source (TDS) on all cryptocurrency transactions will be levied from July 1st. 
3. TDS On Doctors, Social Media Influencers:
FM Sitharaman had introduced a new section (194R) in the Income Tax Act 1961 in the Union Budget 2022, which proposes a 10 per cent TDS on monetary benefits received by doctors and social media influencers through sales promotion (on social media) beginning July 1, 2022. 

From PAN to crypto TDS; all rules changing from July 1

Three major changes to income tax rules are going to be applicable to different taxpayers

Here are the three important changes in income tax rules that will come into effect from Friday, July 1, 2022:-&nbsp;
1. PAN-Aadhaar Linking Fine to Increase
Those who have not yet linked their PAN Aadhaar will have to pay a fine of Rs 1,000 if they try to link both the documents from July 1. Till June 30, the fine has been capped at Rs 500. The Central Board of Direct Taxes has extended the deadline to link PAN-Aadhaar to March 23, but people will have to pay a fine of Rs 1,000 if it is done on or after July 1.
2. TDS on cryptocurrencies: After the imposition of 30 per cent flat income tax on cryptocurrencies from 1st April 2022, the GoI had proposed an additional 1 per cent TDS on cryptocurrency transactions in the union budget 2022, irrespective of the gain or loss incurred by the investor.
One per cent Tax Deduction at Source (TDS) on all cryptocurrency transactions will be levied from July 1st.&nbsp;
3. TDS On Doctors, Social Media Influencers:
FM Sitharaman had introduced a new section (194R) in the Income Tax Act 1961 in the Union Budget 2022, which proposes a 10 per cent TDS on monetary benefits received by doctors and social media influencers through sales promotion (on social media) beginning July 1, 2022.&nbsp;

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