In one of the biggest donations by a business family in India, Asia's richest industrialist Gautam Adani and the Adani family have pledged ₹60,000 crore to charity in the areas of healthcare, education, and skill development on his 60th birthday!  
This corpus will be administered by the Adani Foundation and the donated funds have been pledged to be utilized for healthcare, education, and skill development. 
Adani also took to Twitter to announce the donation for social causes. "On our father’s 100thbirth anniversary & my 60thbirthday, Adani Family is gratified to commit Rs 60,000 cr in charity towards healthcare, edu & skill-dev across India," the billionaire posted.
Last month, the group acquired Holcim AG's cement business in India - ACC and Ambuja. According to Bloomberg Billionaires Index, Gautam Adani has a net worth of $96.9 billion on Tuesday. Forbes' "Real-Time Billionaires List" shows Adani has a net worth of $100.9 billion.

What a return gift! Birthday boy Gautam Adani to give $7.7 bn for social cause 

The commitment has been made to mark Gautam Adani's 60th birthday on Friday as well as the birth centenary year of his father Shantilal Adani. 

The commitment has been made to mark Gautam Adani's 60th birthday on Friday as well as the birth centenary year of his father Shantilal Adani.&nbsp;
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In one of the biggest donations by a business family in India, Asia's richest industrialist Gautam Adani and the Adani family have pledged ₹60,000 crore to charity in the areas of healthcare, education, and skill development on his 60th birthday!&nbsp;&nbsp;
Also read/watch| <a title="Season 1 Episode 2: Netflix binge layoffs continue" href="https://www.editorji.com/business-news/season-1-episode-2-netflix-binge-layoffs-continue-1656037614740">Season 1 Episode 2: Netflix binge layoffs continue</a>
This corpus will be administered by the Adani Foundation and the donated funds have been pledged to be utilized for healthcare, education, and skill development.&nbsp;
Adani also took to Twitter to announce the donation for social causes. "On our father&rsquo;s 100thbirth anniversary &amp; my 60thbirthday, Adani Family is gratified to commit Rs 60,000 cr in charity towards healthcare, edu &amp; skill-dev across India," the billionaire posted.
Last month, the group acquired Holcim AG's cement business in India - ACC and Ambuja. According to Bloomberg Billionaires Index, Gautam Adani has a net worth of $96.9 billion on Tuesday. Forbes' "Real-Time Billionaires List" shows Adani has a net worth of $100.9 billion.

In yet another latest round of layoffs, Netflix has laid off 300 employees.  
This is Netflix’s second round of layoffs in as many months. In May, it cut 150 staffers, part-timers, and contractors as a result of the slowdown in the company’s revenue growth. 
Netflix reported in April that it lost subscribers for the first time in more than a decade. That sent shock waves through Wall Street, leading investors to wipe billions of dollars off Netflix market cap.
The company's stock has plummeted roughly 70% this year.

Netflix cuts another 300 jobs in second round of layoffs 

Season 1 Episode 2: Netflix binge layoffs continue

Earlier this year, the streaming giant reported its first subscriber drop in a decade

It is the season of binge firing! In yet another latest round of layoffs, Netflix has laid off 300 employees.&nbsp;&nbsp;
This is Netflix&rsquo;s second round of layoffs, in May the streaming platform cut 150 staffers, part-timers, and contractors as a result of the slowdown in the company&rsquo;s revenue growth.&nbsp;
Also read/watch| <a title="What a return gift! Birthday boy Gautam Adani to give $7.7 bn for social cause&nbsp;" href="https://www.editorji.com/business-news/what-a-return-gift-birthday-boy-gautam-adani-to-give-7-7-bn-for-social-cause-1656042527189">What a return gift! Birthday boy Gautam Adani to give $7.7 bn for social cause&nbsp;</a>
Netflix reported in April that it lost subscribers for the first time in more than a decade. That sent shock waves through Wall Street, leading investors to wipe billions of dollars off Netflix market cap.
The company's stock has plummeted roughly 70% this year.

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;

After a series of electric scooters caught fire in India recently, a Tata Nexon EV caught fire in Mumbai, Maharashtra.
The incident was caught on the camera and is widely shared on social media platforms. The exact reason for the fire remains unknown. However, Tata has released an official statement ensuring a thorough investigation.
Tata Motors issued a statement on Wednesday assuring an investigation into what led to the Nexon EV catching fire. The carmaker said, “A detailed investigation is currently being conducted to ascertain the facts of the recent isolated thermal incident that is doing the rounds on social media. We will share a detailed response after our complete investigation."
Tata Nexon EV, which recently received a more powerful version in Nexon EV Max, leads India's electric vehicle race. Nexon EV is the highest-selling electric car of India. Every month, about 2,500 to 3,000 units of the EV are sold.

After two-wheelers, Tata Nexon EV catches fire in Mumbai

Tata Nexon EV is the country's highest-selling electric car and the exact reason for the fire remains unknown, though Tata Motors has assured of a investigation.

India's top selling EV catches fire, video goes viral 

First EV fire for Tata Motors under investigation

EV fires have been synonymous with two-wheelers but the concern is now extending to cars as a video of an electric car, the Nexon EV from Tata Motors has been filmed on fire in Mumbai. The video shows a Tata Nexon EV engulfed in flames at Vasai and water being hurled at it.&nbsp;
Tata Nexon EV is the country's highest-selling electric car and the exact reason for the fire remains unknown, though Tata Motors has assured of an investigation.&nbsp;
Also read/watch| <a title="Explained: EV fires, the burning issue and if recalls are enough" href="https://www.editorji.com/business-news/explained-ev-fires-the-burning-issue-and-if-recalls-are-enough-1650875918735">Explained: EV fires, the burning issue and if recalls are enough</a> "A detailed investigation is currently being conducted to ascertain the facts of the recent isolated thermal incident that is doing the rounds on social media. We will share a detailed response after our complete investigation. We remain committed to the safety of our vehicles and their users. This is a first incident after more than 30,000 EVs have cumulatively covered over 1 million km across the country in nearly 4 years." Tata Motors said in a press statement.&nbsp;

Fugitive businessman Vijay Mallya, who once owned the Indian Premier League (IPL) franchise Royal Challengers Bangalore, shared a photograph with legendary West Indian all-rounder Chris Gayle on his official Twitter handle. 
Vijay Mallya taking the picture to Twitter, wrote, “Great to catch up with my good friend Christopher Henry Gayle @henrygayle, the Universe Boss. Super friendship since I recruited him for RCB. Best acquisition of a player ever.”
The photograph of Vijay Mallya and Chris Gayle has gone viral on Twitter, sparking a meme fest on the micro-blogging site. 
Mallya owes over 9,000 crore to 19 Indian banks, and he is currently fighting an extradition case in the UK. He also served as a Member of Parliament on two occasions, and was the chairperson of United Spirits before it was acquired by Diageo.
 

Fugitive Vijay Mallya meets with Chris Gyale, Twitter explodes with memes

Vijay Mallya posts picture with Gayle, twitter explodes with memes

It was Mallya who brought Chris Gayle to the RCB after the Caribbean went unsold in the IPL 2011 auction.

Fugitive businessman Vijay Mallya, who once owned the Indian Premier League (IPL) franchise Royal Challengers Bangalore, shared a photograph with legendary West Indian all-rounder cricketer Chris Gayle on his official Twitter handle.&nbsp;
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>
Vijay Mallya posted the picture on Twitter, wrote, &ldquo;Great to catch up with my good friend Christopher Henry Gayle @henrygayle, the Universe Boss. Super friendship since I recruited him for RCB. Best acquisition of a player ever.&rdquo;
The photograph of Vijay Mallya and Chris Gayle soon went viral on Twitter, sparking retorts and memes on the micro-blogging site. Referring to his caption, a user asked: &ldquo;Did you hire him (Gayle) with the same SBI loan money??&rdquo; and "Aaj bank bandh tha, ki tweet kara." While Kohli fans miffed with the comment&nbsp; started slamming the bad boy billionaire for disrespecting Virat Kohli. The Delhi-born is the only player in history who has played for a single franchise (RCB) since the tournament&rsquo;s inception in 2008 and is also the greatest run-scorer in the history of IPL.
The former Member of Parliament and nicknamed the "King Of Good Times' Vijay Mallya, fled the country after defaulting payment of around Rs 9,000 crore he borrowed from the banks and has been living in the United Kingdom since the last few years.

Priyanka Chopra took to social media to announce her latest business venture, a new homeware line named 'Sona Home.' The actor shared a video to show off some pieces from her homeware collection along with the co-founder Maneesh Goyal. In her post, our desi girl mentioned how it was quite challenging for her to make America her second home after moving there for work and marrying singer-actor Nick Jonas. Announcing the news of the launch day, she said that she's trying to bring a piece of Indian heritage to the homes in the United States. 
Priyanka also launched a restaurant called Sona in the heart of New York City in 2021.
On the work front, Priyanka recently wrapped up the shoot of her next spy-thriller series 'Citadel' which will premiere on Amazon prime video later this year. Her other upcoming projects include, Farhan Akhtar's directorial 'Jee Le Zara' along with Alia Bhatt and Katrina Kaif and 'It's All Coming Back To Me.'

Priyanka Chopra launches homeware line in New York, talks about being an immigrant in US

Announcing the launch of a new homeware line, Priyanka Chopra spoke about being an immigrant in the United States and leaving her roots behind.

As she launched her homeware line, Priyanka Chopra, said: 'It was challenging to come from India and make America my second home, but my journey led me to a place where I found a second family and friends.'&nbsp;

<a href="https://www.editorji.com/entertainment-news/bollywood/father-s-day-priyanka-chopra-shares-adorable-picture-of-daughter-malti-marie-with-nick-jonas-1655698197936" target="_blank">Priyanka Chopra</a> took to social media to announce her latest business venture, a new homeware line named 'Sona Home.' The actor shared a video to show off some pieces from her homeware collection along with the co-founder Maneesh Goyal. In her post, our desi girl mentioned how it was quite challenging for her to make America her second home after moving there for work and marrying singer-actor Nick Jonas. Announcing the news of the launch day, she said that she's trying to bring a piece of Indian heritage to the homes in the United States.&nbsp;
Priyanka also launched a restaurant called Sona in the heart of New York City in 2021.
On the work front, Priyanka recently wrapped up the shoot of her next spy-thriller series 'Citadel' which will premiere on Amazon prime video later this year. Her other upcoming projects include, Farhan Akhtar's directorial 'Jee Le Zara' along with Alia Bhatt and Katrina Kaif and 'It's All Coming Back To Me.'
Also watch|<a href="https://www.editorji.com/entertainment-news/bollywood/sushant-singh-rajput-death-case-rhea-chakraborty-and-brother-showik-charged-by-ncb-in-drugs-case-1655958632097" target="_blank"> Sushant Singh Rajput death case: Rhea Chakraborty and brother Showik charged by NCB in drugs case</a>

Did the ride-hailing giant Uber explore the option of selling its loss making India unit? As per a Bloomberg report citing sources US based Uber Tech explored mulitple options including an outright sale for it's Indian arm. Bloomberg quoting unnamed sources stated that Uber pondered a stock swap with local companies or even a pullout. So what changed? Simply the market conditions, tech startup valuations cratered making the US transport startup re-evaluate proposals. Uber has hived off money-losing businesses to achieve its goal of being consistently profitable.  But the notion that it was pulling out of one of the biggest markets in the world was denied by Uber.In a response to Bloomberg, Uber was quoted as saying “We have never explored exiting India — not even for a minute, Uber remains committed to India and continues to hire people “aggressively.”  

Uber India put up for sale?

Did the ride-hailing giant Uber explore the option of selling its loss making India unit? 

Did Uber consider driving out of India? 

Uber has globally shaved off money-losing businesses to achieve its goal of being consistently profitable.

Did the ride-hailing giant Uber explore the option of selling its loss making India unit? As per a Bloomberg report citing sources US-based Uber Tech explored mulitple options including an outright sale for its Indian arm.
Also read/watch| <a title="Fugitive Vijay Mallya meets with Chris Gayle, Twitter explodes&nbsp;" href="https://www.editorji.com/business-news/fugitive-vijay-mallya-meets-with-chris-gayle-twitter-explodes-1655968845366">Fugitive Vijay Mallya meets with Chris Gayle, Twitter explodes&nbsp;</a>
Bloomberg quoting unnamed sources stated that Uber pondered a stock swap with local companies or even a pullout. So what changed? Simply the market conditions, tech startup valuations cratered making the US transport startup re-evaluate proposals.&nbsp; Uber has hived off money-losing businesses to achieve its goal of being consistently profitable.&nbsp; But the notion that it was pulling out of one of the biggest markets in the world was denied by Uber. In a response to Bloomberg, Uber was quoted as saying &ldquo;We have never explored exiting India &mdash; not even for a minute, Uber remains committed to India and continues to hire people &ldquo;aggressively.&rdquo; &nbsp;

‘Baggage mountain’ leads to Heathrow cancellations, as easyJet cuts schedule. London’s Heathrow Airport asked some airlines to cancel a number of flights scheduled for Monday, the latest hitch to roil travel. The aviation industry’s capacity crisis has deepened as post-lockdown travel demand has surged, with airlines and airports struggling to hire enough staff to handle the revived passenger flows.

Watch: Massive luggage pile-up at London's airport, days to get your baggage

The aviation industry’s capacity crisis has deepened as post-lockdown travel demand has surged, with airlines and airports struggling to hire enough staff t

‘Baggage mountain’ leads to Heathrow cancellations

Watch: Massive luggage pile-up at London's airport, days to get your baggage

&lsquo;Baggage mountain&rsquo; seen across London's Heathrow Aiport as videos and images of luggage piled up across the busy airport went viral with passengers waiting for days to get a hold of their belongings. Taking to social media many complained they now have spent more time waiting for their luggage than they spent in the sky.&nbsp;
Also read/watch| <a title="'Can high rates really bring down inflation?' Fed Chief faces brutal questioning" href="https://www.editorji.com/business-news/economy/can-high-rates-really-bring-down-inflation-fed-chief-faces-brutal-questioning-1655950281757">'Can high rates really bring down inflation?' Fed Chief faces brutal questioning</a> This so-called mountain is made up of countless rows forming one giant cluster containing hundreds of bags. This is reportedly the result of a failed system at terminal two and also a severe shortage of staff.&nbsp; Reports state that London&rsquo;s Heathrow Airport asked some airlines to cancel a number of flights as with airlines and airports struggling to hire enough staff to handle the revived passenger flows as 'revenge travel' takes hold across the globe post pandemic.&nbsp;

Squeezed for time the juice and milkshake market is literally grasping at straws as the beverage makers face a severe deadline to ban plastic straws by July 1. So essentially from the popular Frooty, Appy, Chaas to all juice boxes are not allowed to have a disposable plastic straw starting next month. 
Not equipped to make this shift due to lack of infrastructure and cost economics, the FMCG majors are now pleading with the government for a deadline for environment friendly push. And the demand is high and not easy to fulfill - Amul needs 10-12 lakh plastic straws daily.
The company along with Parle Agro, which owns popular brands such as Frooti and Appy, too has urged the government to extend the deadline to implement the ban on plastic straws by six months. 
"There is no infrastructure at present in India to be able to produce the quantum of straws required for the industry. We have started importing paper straws to ensure the new rules are met by its deadline. However, importing is not a sustainable option," Parle Agro CEO Schauna Chauhan said.
She further said, "The percentage increase in the cost for importing polylactic acid (PLA) and paper straws goes up by 259 per cent and 278 per cent respectively. The economics just does not match up for a Rs 10 product.
Leading dairy cooperative Amul has already written to the environment ministry earlier this month seeking postponement of the ban on plastic straws by one year due to lack of adequate availability of paper straws in the domestic as well as international markets.

Grasping at straws! Juice boxes face big problems, squeezed by deadline

Tetra pack beverage makers are set to face a big issue as the plastic straw is going to be banned effective July 1, 2022.

Grasping at straws! Juice boxes face big problems

Plastic straws banned from July 1, industry not ready for change.&nbsp;

Squeezed for a time the juice and milkshake market is literally grasping at straws as the beverage makers face a severe deadline to ban plastic straws by July 1. So essentially from the popular Frooty, Appy, Chaas to all juice boxes are not allowed to have a disposable plastic straw starting next month.&nbsp;
Not equipped to make this shift due to lack of infrastructure and cost economics, the FMCG majors are now pleading with the government for a deadline for environment friendly push.&nbsp; And the demand is high and not easy to fulfil - Amul needs 10-12 lakh plastic straws daily.
Also read/watch| <a title="This is what an average CEO salary in India is..." href="https://www.editorji.com/business-news/this-is-what-an-average-ceo-salary-in-india-is-1655869520748">This is what an average CEO salary in India is...</a>
The company along with Parle Agro, which owns popular brands such as Frooti and Appy, too has urged the government to extend the deadline to implement the ban on plastic straws by six months.&nbsp;
"There is no infrastructure at present in India to be able to produce the quantum of straws required for the industry. We have started importing paper straws to ensure the new rules are met by the deadline. However, importing is not a sustainable option," Parle Agro CEO Schauna Chauhan said.
She further said, "The percentage increase in the cost for importing polylactic acid (PLA) and paper straws goes up by 259 per cent and 278 per cent respectively. The economics just does not match up for a Rs 10 product.
Leading dairy cooperative Amul has already written to the environment ministry earlier this month seeking postponement of the ban on plastic straws by one year due to lack of adequate availability of paper straws in the domestic as well as international markets.

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As Tesla gears for a global recessionary storm as warned by its founder Elon&nbsp;Musk, the first to be caught in the eye is&nbsp;Christopher Bousigues, the Singapore country manager who has been axed just one year into the job.&nbsp;Bousigues,&nbsp;the first country manager for Tesla in Southeast Asia posted on Linkedin&nbsp;that his&nbsp;"role was chosen to be eliminated as of today." Tesla chief Musk had warned that 10% of it's workforce will need to be trimmed to adjust to the new economic realities.Bloomberg&nbsp;reports that the world's richest person has warned employees in an internal memo that&nbsp;Tesla Inc.&nbsp;has had a &ldquo;very tough quarter&rdquo; as it struggles with supply-chain snags.
&ldquo;This has been a very tough quarter, primarily due to supply chain and production challenges in China,&rdquo; Musk said in an email to employees over the weekend. &ldquo;So we need to rally hard to recover!&rdquo;

Tesla fires Singapore country manager, Elon Musk says 'very tough quarter'

As Tesla gears for a global recessionary storm as warned by its founder Elon Musk, the first to be caught in the eye is Christopher Bousigues, the Singapore country manager who has been axed just one year into the job. 

Musk sends internal memo to employees as per reports, says very tough quarter for Tesla

As Tesla gears for a global recessionary storm as warned by its founder Elon&nbsp;Musk, the first to be caught in the eye is&nbsp;Christopher Bousigues, the Singapore country manager who has been axed just one year into the job.&nbsp; Bousigues,&nbsp;the first country manager for Tesla in Southeast Asia posted on Linkedin&nbsp;that his&nbsp;"role was chosen to be eliminated as of today." Tesla chief Musk had warned that 10% of it's workforce will need to be trimmed to adjust to the new economic realities. Bloomberg&nbsp;reports that the world's richest person has warned employees in an internal memo that&nbsp;Tesla Inc.&nbsp;has had a &ldquo;very tough quarter&rdquo; as it struggles with supply-chain snags.
&ldquo;This has been a very tough quarter, primarily due to supply chain and production challenges in China,&rdquo; Musk said in an email to employees over the weekend. &ldquo;So we need to rally hard to recover!&rdquo;

Parameswaran Iyer , the IAS officer who led the Swachh Bharat mission has been appointed the CEO of Niti Ayog taking over from Amitabh Kant whose term comes to an end on June 30. 

Parameswaran Iyer IAS , Narendra Modi's Swachh Bharat man appointed as CEO, NITI Aayog

Param Iyer, PM Modi's Swachh Bharat man appointed as CEO, NITI Aayog

PM Modi's Swachh Bharat man to take over Niti Aayog CEO

Param Iyer succeeds Amitabh Kant who is completing his tenure on 30.06.2022&nbsp;

Param Iyer, the IAS officer who led the Swachh Bharat mission has been appointed the CEO of Niti Ayog taking over from Amitabh Kant whose term comes to an end on June 30.&nbsp;
Also read/watch| <a title="What a return gift! Birthday boy Gautam Adani to give $7.7 bn for social cause&nbsp;" href="https://www.editorji.com/business-news/what-a-return-gift-birthday-boy-gautam-adani-to-give-7-7-bn-for-social-cause-1656042527189">What a return gift! Birthday boy Gautam Adani to give $7.7 bn for social cause&nbsp;</a> Iyer, is a 1981-batch Uttar Pradesh cadre IAS officer&nbsp; popularly took voluntary retirement from the IAS in 2009, Iyer had a stint with the <a href="https://www.editorji.com/business-news/economy/world-bank-sharply-cuts-india-gdp-growth-forecast-raises-global-recession-risk-1654669089296" target="_blank">World Bank</a> as water and sanitation specialist. Popularly called Param came back from the United States to take on the appointment as&nbsp; Secretary of the Ministry of Drinking Water and Sanitation (MDWS) in 2016. At the time, PM Modi had vowed to declare the country ODF in five years. <a href="https://www.editorji.com/business-news/param-iyer-pm-modi-s-swachh-bharat-man-appointed-as-ceo-niti-aayog-1656077303392" target="_blank">Parameswaran Iyer</a> replaces Amitabh Kant who was appointed as the CEO Niti Aayog on February 17, 2016, for a fixed two-year term but his term was extended thrice since then.

Blockchain Solana now has its own smartphone called the Solana Saga.

Solana launches $1,000 crypto smartphone 

Blockchain Solana now has its own smartphone called the Solana Saga.

Popular blockchain Solana has entered the smartphone space with the Solana Saga, a crypto and web3-centric smartphone which will launch in 2023.
This is a rebranded Osom OV1. For those unaware, Osom is a privacy-focused startup with the same engineers who developed the Essential Phone. The company has made it clear that the OV1 has been replaced by the upcoming Solana Saga.
This new blockchain-focused phone features pretty impressive internals which include a 6.67-inch OLED display, 12GB of RAM, a Snapdragon 8+ Gen 1 chipset, and wireless charging.
Also watch: <a title="Hermit malware used to spy on iPhones and Android phones" href="https://www.editorji.com/tech-news/hermit-malware-used-to-spy-on-iphones-and-android-phones-1656066100707">Hermit malware used to spy on iPhones and Android phones</a>
&ldquo;Almost 7 billion people use smartphones around the world and more than 100 million people hold digital assets - and both of those numbers will continue to grow. Saga sets a new standard for the web3 experience on mobile,&rdquo; Solana CEO said in a blog post.
The phone will retail for $1,000 and will be initially sold in the EU, USA, Canada and UK.

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;

Two-wheeler maker Hero MotoCorp said it will hike prices of motorcycles and scooters by up to Rs 3,000 from July 1 to partially offset the steadily growing overall cost inflation, including commodity prices.
In a regulatory filing, the company said, "The exact quantum of increase will be subject to the specific model and market".
The company further said, "The price revision has been necessitated to partially offset the steadily growing overall cost inflation, including commodity prices".
Hero MotoCorp sells a range of models, ranging from entry-level HF100 with prices starting at Rs 51,450, while Xpulse 200 4V tagged at Rs 1.32 lakh. 

Hero MotoCorp to hike prices for two-wheeler by Rs 3,000 from this date

Hero MotoCorp to hike prices for two wheeler by Rs 3,000 from this date

Move after the steadily growing overall cost inflation, including commodity prices

Two-wheeler maker Hero MotoCorp said it will hike prices of motorcycles and scooters by up to Rs 3,000 from July 1 to partially offset the steadily growing overall cost inflation, including commodity prices.
In a regulatory filing, the company said, "The exact quantum of increase will be subject to the specific model and market".
Also read/watch| <a title="NYC rents hiked by most in 10 years: Only 1 out of 5 full-time workers can afford it &nbsp;" href="https://www.editorji.com/business-news/nyc-rents-hiked-by-most-in-10-years-only-1-out-of-5-full-time-workers-can-afford-it-1656055206228">NYC rents hiked by most in 10 years: Only 1 out of 5 full-time workers can afford it &nbsp;</a>
The company further said, "The price revision has been necessitated to partially offset the steadily growing overall cost inflation, including commodity prices".
Hero MotoCorp sells a range of models, ranging from entry-level HF100 with prices starting at Rs 51,450, while Xpulse 200 4V tagged at Rs 1.32 lakh.&nbsp;

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