'Terra 2.0 is coming', LUNA's official Twitter account posted on Wednesday as the hot crypto project is set to launch the next version of its digital token after a drastic failure a few weeks back.
The new token is set to launch on May 27, as per its blog post on Terra Ecosystem Revival Plan 2. It will effectively create a new Terra chain without the algorithmic stablecoin. The old chain will be called Terra Classic (token: $LUNC), and the new chain will be called Terra (token: $LUNA).
New LUNA tokens will be airdropped across LUNA Classic stakers, LUNA Classic holders, residual UST holders, and essential app developers of Terra Classic, it said in a Tweet.
The world's biggest crypto exchange Binance also supported the news as it tweeted, "The Terra community just passed a vote to ‘Rebirth Terra Network’. We are working closely with the Terra team on the recovery plan, aiming to provide impacted users on Binance with the best possible treatment."
A few weeks back Terra's stable coin UST became unpegged to fiat and leading to a 100 percent fall in the value of its native token LUNA.

Terra LUNA 2.0: Collapse to resurrection, meet the new crypto avatar

A new token of Terra LUNA is set to be launched on May 27 that will effectively create a new Terra chain without the algorithmic stablecoin.

New crypto avatar: Terra LUNA 2.0

News LUNA tokens will be airdropped across the pre-attack LUNA Classic stakers and&nbsp;holders.

'Terra 2.0 is coming', LUNA's official Twitter account posted on Wednesday as the hot&nbsp;crypto project is set to launch the next version of its digital token after a drastic failure a few weeks back which sent the entire crypto&nbsp;universe in a tizzy.&nbsp;
The new token is set to launch on May 27, as per its blog post on Terra Ecosystem Revival Plan 2.&nbsp;It will effectively create a new Terra chain without the algorithmic stablecoin. The old chain will be called Terra Classic (token: $LUNC), and the new chain will be called Terra (token: $LUNA).
Also read/watch| <a title="Infosys CEO gets a mega hike, this is how much he makes after a 88% jump" href="https://www.editorji.com/business-news/infosys-ceo-salary-hike-salil-parekh-gets-a-big-hike-in-compensation-jumps-to-rs-79-crore-year-from-rs-42-crores-1653541864253">Infosys CEO gets a mega hike, this is how much he makes after a 88% jump</a>
New LUNA tokens will be airdropped across LUNA Classic stakers, LUNA Classic holders, residual UST holders, and essential app developers of Terra Classic, it said in a Tweet.
The world's biggest crypto&nbsp;exchange Binance also supported the news as it tweeted, "The Terra community just passed a vote to &lsquo;Rebirth Terra Network&rsquo;. We are working closely with the Terra team on the recovery plan, aiming to provide impacted users on Binance with the best possible treatment."
A few weeks back Terra's stable coin UST&nbsp;became unpegged to fiat and leading to a 100 percent fall in the value of its native token LUNA.&nbsp;The crash of these two coins has been compared to a mini 2008 financial crisis within the crypto eco-system, with their collapse having a knock-on effect on other digital coins and projects, wiping billions of dollars off the market.

Ransomware attacks have risen by a steep 13 percent in the last five years and by 25 percent in the last year alone, as per Verizon's 15th annual Data Breach Investigations Report.
The latest one is on an Indian airline Spicejet. Editorji lists some of the biggest ransomware attacks in the last five years:
1. WannaCry: In May 2017, a ransomware called WannaCry infected computers across the globe in an incident termed 'a global epidemic'. This ransomware attack spread through computers operating Microsoft Windows and demanded payment in bitcoin. More than 2 lakh computers around the world were infected. Computer systems in 150 countries were affected by the attack, with a total estimated loss of around $4 billion globally. The attackers initially demanded $300 in bitcoin to unlock infected computer systems. The demand was later increased to $600 in bitcoin. However, some researchers claim that no one got their data back, even if they met the demands.
2. SamSam: It made headlines in 2018 when it infected the city of Atlanta, the Colorado Department of Transportation, and the Port of San Diego, causing major disruptions of service. That same ransomware was utilized by different bad actors again that same year against hospitals, municipalities, and public institutions, causing an estimated loss of $30 million.
3. Ryuk: Both 2019 and 2020 were dominated by Ryuk ransomware spread mainly via phishing emails, containing dangerous links and attachments. Prior to recent attacks, Ryuk was the costliest to remediate, with ransom amounts exceeding $300,000 in some cases. Authorities state that Ryuk’s attacks have already caused more than $60 million in damage worldwide.
4. REvil Ransomware: This was one of the most well-known cases of 2020, especially because of the big names involved. Grubman Shire Meiselas & Sacks, a law firm that handles international celebrities such as Madonna, Bruce Springsteen, Lady Gaga, Nicki Minaj, and more, was hacked in mid-May by REvil Ransomware, also popularly known as Sodinokibi. Media reports said that about 756 GB of private documents and correspondence with clients were stolen. The hacker group had taken control over the personal information of its high-profile clients and demanded a $21 million ransom.
5. Maze Ransomware: The biggest Ransomware attack of 2020 was led by technology giant Cognizant. It cost the company a staggering $50 to $70 million in revenue loss, and recovery and mitigation efforts. This barred its work from home capabilities and encrypted its servers.

Top ransomware attacks in the last 5 years

Ransomware attacks have risen by a steep 13 percent in the last five years and by 25 percent in the last year alone, as per Verizon's 15th annual Data Breach Investigations Report.

Most dangerous ransomware attacks in the last 5 years

In 2017, WannaCry ransomware infected over two lakh computers worldwide.
&nbsp;

Cyberattacks are the biggest threat to the global digital economy and the pace of ransomware attacks is getting faster and the scope is getting&nbsp;bigger.&nbsp;Ransomware&nbsp;attacks have risen by a steep 13 percent in the last five years and by 25 percent in the last year alone, as per&nbsp;Verizon's&nbsp;15th annual Data Breach Investigations Report.
Also read/watch |<a href="https://www.editorji.com/business-news/markets/investor-who-called-2008-crash-says-2022-is-a-plane-crash-1653449953856" target="_blank">&nbsp;Investor who called the 2008 crash says 2022 is a 'plane crash'</a>
The latest one is on an Indian airline Spicejet. Editorji&nbsp;lists some of the biggest ransomware attacks in the last five years:
1.&nbsp;WannaCry: In May 2017, a ransomware called WannaCry infected computers across the globe in an incident termed 'a global epidemic'.&nbsp;This ransomware attack spread through computers operating Microsoft Windows and demanded payment in bitcoin. More than 2 lakh computers around the world were infected. Computer systems in 150 countries were affected by the attack, with a total estimated loss of around $4 billion globally. The attackers initially demanded $300 in bitcoin to unlock infected computer systems. The demand was later increased to $600 in bitcoin. However, some researchers claim that no one got their data back, even if they met the demands.
2. SamSam:&nbsp;It&nbsp;made headlines in 2018 when it infected the city of Atlanta, the Colorado Department of Transportation, and the Port of San Diego, causing major disruptions of service. That same ransomware was utilized by different bad actors again that same year against hospitals, municipalities, and public institutions, causing an estimated loss of $30 million.
Also read/watch | <a href="https://www.editorji.com/business-news/spicejet-faces-ransomware-attack-departure-of-morning-flights-affected-1653450718827" target="_blank">SpiceJet faces ransomware attack, departure of morning flights affected</a>
3. Ryuk: Both 2019 and 2020 were dominated by Ryuk ransomware spread mainly via phishing emails, containing dangerous links and attachments. Prior to recent attacks, Ryuk was the costliest to remediate, with ransom amounts exceeding $300,000 in some cases. Authorities state that Ryuk&rsquo;s attacks have already caused more than $60 million in damage worldwide.
4.&nbsp;REvil Ransomware: This was one of the most well-known cases of 2020, especially because of the big names involved. Grubman Shire Meiselas &amp; Sacks, a law firm that handles international celebrities such as Madonna, Bruce Springsteen, Lady Gaga,&nbsp;Nicki Minaj, and more, was hacked in mid-May by REvil Ransomware, also popularly known as Sodinokibi. Media reports said that about 756 GB of private documents and correspondence with clients were stolen. The hacker group had taken control over the personal information of its high-profile clients and demanded a $21 million ransom.
5. Maze Ransomware: The biggest Ransomware attack of 2020 was led by technology giant Cognizant. It cost&nbsp;the company a staggering $50 to $70 million in revenue loss, and recovery and mitigation efforts. This barred its work from home capabilities and encrypted its servers.
Also read/watch | <a href="https://www.editorji.com/business-news/markets/oh-snap-160-billion-wiped-out-is-the-dream-run-over-1653446102280" target="_blank">Oh SNAP! $160 billion wiped out, is the dream run over?</a>
The World Economic Forum points out that global leaders identified cyber risk as a major digital challenge, with 64 percent of the respondents expecting they will experience a disruptive event within the next year. Nearly one in five (19.5 percent) respondents believe cybersecurity failures will be a critical threat to the world in just the next two years, and 14.6 percent project a critical threat within two to five years.
According to Dell Technologies 2021 Global Data Protection Index survey, 44 percent of businesses experienced more cyberattacks and data loss during this past year or so, and more than 67 percent lacked confidence that all business-critical data can be recovered in the event of a cyberattack. 82 percent of customers do not believe their current data protection product is sufficient to handle future business challenges.

#Instagramdown trended on social media as the social media platform faced an outage leaving hundred in India unable to log in on Tuesday morning. The server error has primarily impacted Instagram mobile app users and the website is working perfectly. As per DownDetector, the service has not been working for multiple users since since 9:45 am on Tuesday, May 25. Users from all over India including including Delhi, Jaipur, Lucknow, Mumbai, and Bengaluru took to Twitter to express their angst. 

#instagramdown: Instagram is down for select users in the country, outage confirmed by Downdetector as per reports

Downdetector reported the outage after hundreds of users complained.

#Instagramdown trended on social media as the social media platform faced an outage leaving hundred in India unable to log in on Tuesday morning.&nbsp;The server error has primarily impacted Instagram mobile app users and the website is working perfectly.&nbsp;
Also read/watch| <a title="Most dangerous ransomware attacks in the last 5 years" href="https://www.editorji.com/business-news/most-dangerous-ransomware-attacks-in-the-last-5-years-1653471113884">Most dangerous ransomware attacks in the last 5 years</a> As per DownDetector, the service has not been working for multiple users since since 9:45 am on Tuesday, May 25. Users from all over India including including Delhi, Jaipur, Lucknow, Mumbai, and Bengaluru&nbsp;took to Twitter to express their angst.&nbsp;

SpiceJet stated that ops were normalised, passengers took to Twitter to complain about delays and lack of information. 

SpiceJet faces ransomware attack, departure of morning flights affected

SpiceJet tweeted, “Certain SpiceJet systems faced an attempted ransomware attack last night that impacted and slowed down morning flight departures today. Our IT team has contained and rectified the situation and flights are operating normally now.” 

Airline stated that&nbsp;the attack slowed down its operations and impacted morning flight departures

<a href="https://www.editorji.com/india-news/amid-frequent-mid-flight-engine-shutdown-incidents-india-probing-3-cases-1653321718077">SpiceJet</a>&nbsp;informed of an attempted ransomware attack which occurred on Tuesday night, which slowed down its operations and impacted morning flight departures.
SpiceJet tweeted, &ldquo;Certain SpiceJet systems faced an attempted ransomware attack last night that impacted and slowed down morning flight departures today. Our IT team has contained and rectified the situation and flights are operating normally now.&rdquo;&nbsp;
Also read/watch| <a title="Oh SNAP! $160 billion wiped out, is the dream run over?" href="https://www.editorji.com/business-news/markets/oh-snap-160-billion-wiped-out-is-the-dream-run-over-1653446102280">Oh SNAP! $160 billion wiped out, is the dream run over?</a>
Even though <a href="https://www.editorji.com/business-news/spicejet-flight-halted-due-to-lack-of-payment-find-out-what-happened-1653019017695">SpiceJet</a>&nbsp;stated that ops were normalised, passengers took to Twitter to complain about delays and lack of information.&nbsp;

The bear attack has gripped Wall Street but this is not the end, famed 2008 crash caller Michael Burry issued a dire warning to his Twitter followers. :As I said about 2008, it is like watching a plane crash. It hurts, it is not fun, and I’m not smiling."— Cassandra B.C. (@michaeljburry) May 24, 2022Burry's financial crisis call was immortalized in Michael Lewis’s book “The Big Short”  raised the red flag to retail traders about a year ago that the “mother of all crashes” was coming.
Burry, who as a habit deletes his tweets shot warns investor as S&P 500 has posted seven straight weekly declines, the worst losing streak since 2001. And recent data is making matters worse. New home sales data tumbled over 16% in April while prices soared.US is facing its worst inflation in 40 years along with the rest of the world and central banks are coming out guns blazing with rate hikes to attack it. 

Investor who called 2008 crash says 2022 is a plane crash

Burry's&nbsp;bet against the housing market before the 2008 financial crisis was immortalized in Michael Lewis&rsquo;s book &ldquo;The Big Short"

The bear attack has gripped Wall Street but&nbsp;this is not the end, famed 2008 crash caller Michael Burry&nbsp;issued a dire warning to his Twitter followers. :As I said about 2008, it is like watching a plane crash. It hurts, it is not fun, and I&rsquo;m not smiling."&mdash; Cassandra B.C. (@michaeljburry)&nbsp;May 24, 2022
Burry's&nbsp;financial crisis call&nbsp;was&nbsp;immortalized in Michael Lewis&rsquo;s book &ldquo;The Big Short&rdquo;&nbsp; raised the red flag to retail traders about a year ago that the &ldquo;mother of all crashes&rdquo; was coming.
Burry, who as a habit deletes his tweets shot warns investor as S&amp;P 500 has posted seven straight weekly declines, the worst losing streak since 2001. And recent data is making matters worse. New home sales data tumbled over 16% in April while prices soared.
US is facing its worst inflation in 40 years along with the rest of the world and central banks are coming out guns blazing with rate hikes to attack it.&nbsp;

The new economic reality is hitting what was the 'pandemic party' where social media and tech stocks were not just host but the guests of honour. After Twitter, Meta, Snapchat shock is the latest blow to sinking social media stocks. Snap sharestumbled as much as 41%, wiping out $15 billion in wealth in a single session and the ripple effect was even worse. Facebook-owner Meta, Google-owner Alphabet , Twitter and peers saw as much as $160 billion worth of marketcap eroded.Ad-dependent Snapchat told investors won’t meet prior forecasts for revenue and profit as it noted a rapid deterioration of the economic environment.

Oh SNAP! $160 billion wiped out, is the dream run over?

Snapchat&nbsp;shares tumbled as much as 41%, their biggest intraday decline&nbsp;

The new economic reality is hitting what was the 'pandemic party' where social media and tech stocks were not just host but the guests of honour.&nbsp; After Twitter, Meta, Snapchat&nbsp;shock is the latest blow to sinking social media stocks. Snap sharestumbled as much as 41%, wiping out $15 billion in wealth in a single session and the ripple effect was even worse.&nbsp;Facebook-owner Meta, Google-owner Alphabet , Twitter and peers saw as much as $160 billion worth of marketcap&nbsp;eroded. Ad-dependent Snapchat&nbsp;told investors won&rsquo;t meet prior forecasts for revenue and profit as it noted a rapid deterioration of the economic environment.
Also read/watch | <a href="https://www.editorji.com/business-news/snapchat-warns-the-picture-is-not-looking-good-slashes-hiring-and-outlook-1653372971935" target="_blank">Snapchat warns the picture is not looking good! slashes hiring and outlook</a>

From cars to ACs&nbsp;to your mobile phones, everything that depends on the&nbsp;semiconductor chips is going to get expensive. Not because of the shortage this time but&nbsp;as chip foundries prepare to increase their prices.
The world&rsquo;s biggest foundries &mdash; including&nbsp;Taiwan Semiconductor Manufacturing Company,&nbsp;Samsung&nbsp;and&nbsp;Intel&nbsp;&mdash; are considering price hikes even as they have already increased prices 10-20 percent in the past year, CNBC&nbsp;reports.
Also read/watch |&nbsp;Snapchat warns the picture is not looking good! slashes hiring and outlook
The foundries are increasing their prices because it&rsquo;s becoming more expensive for them to fund their growing operations. The chemicals used in chip manufacturing have increased 10-20 percent, as per the report. Similarly, the labor required to build new semiconductor facilities has also seen shortages and increased wage rates.
Samsung is set to increase its chipmaking prices by up to 20 percent, according to a Bloomberg report last Friday.
Also read/watch |&nbsp;TIME 100: Gautam Adani makes the list of most influential

ACs, mobile phones, cars to get more expensive; here's why

The world’s biggest foundries — including Taiwan Semiconductor Manufacturing Company, Samsung and Intel — are considering price hikes even as they have already increased prices 10-20 percent in the past year, CNBC reports.

Electronics, automobiles to get expensive

Samsung is set to increase its chipmaking prices by up to 20 percent.

From cars to ACs&nbsp;to your mobile phones, everything that depends on the&nbsp;semiconductor chips is going to get expensive. Not because of the shortage this time but&nbsp;as chip foundries prepare to increase their prices.
The world&rsquo;s biggest foundries &mdash; including&nbsp;Taiwan Semiconductor Manufacturing Company,&nbsp;Samsung&nbsp;and&nbsp;Intel&nbsp;&mdash; are considering price hikes even as they have already increased prices 10-20 percent in the past year, CNBC&nbsp;reports.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/snapchat-warns-the-picture-is-not-looking-good-slashes-hiring-and-outlook-1653372971935" target="_blank">Snapchat warns the picture is not looking good! slashes hiring and outlook</a>
The foundries are increasing their prices because it&rsquo;s becoming more expensive for them to fund their growing operations. The chemicals used in chip manufacturing have increased 10-20 percent, as per the report. Similarly, the labor required to build new semiconductor facilities has also seen shortages and increased wage rates.
Samsung is set to increase its chipmaking prices by up to 20 percent, according to a Bloomberg report last Friday.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/time-100-gautam-adani-makes-the-list-of-most-influential-1653358038551" target="_blank">TIME 100: Gautam Adani makes the list of most influential</a>

Think of your dream property, car, Watch, Jewellery Piece and then think a little harder and you’ll begin to get an idea of what the most expensive these things in the world look like.Here are 5 such things that you might never be able to afford in this lifetime, and if you're able to afford, you might not see the value in the price tag. Let's see what they are:
1. Buckingham Palace might not be put up for sale anytime soon but, if it was, it would be worth around $6.7 billion dollars. With 240 bedrooms as well as a swimming pool and doctor’s surgery, it’s a place called home by the British Royal Family and is also open to the public for guided tours. 
In total, this rich house—if you can call it a mere house—contains 775 rooms: 19 state rooms, 92 offices, and 78 bathrooms. It’s also got a huge team of staff as well as beautiful gardens. Rumour has it, there are a few other secret rooms dotted throughout this huge luxury mansion.
2. In 1964, the 250 GTO won the Tour de France Automobile – marking the ninth year in a row that Ferrari won that race. Only 36 of these cars were made between 1962 and 1963; the specific Ferrari that’s the most expensive in the world, at an unbelievable $70,000,000 price point, was victorious not only in the Tour de France, but it also placed in the Le Mans.
With a top speed of 174 miles per hour and an acceleration of 0-60 mph (0-100 km/h) in 6.1 seconds, its stats wouldn’t stand up to the hypercars of the modern day. However, in the ‘60s, it was the fastest in the world – and, now, decades later, it remains the most expensive car in the world of all time by a long shot.
3.Graff Diamonds Hallucination
The most expensive watch ever made is another Graff Diamonds creation. The Hallucination is, as the name suggests, truly breathtaking and brilliantly fantastical. 
Featuring a kaleidoscopic array of 110 carats of different coloured diamonds in a range of different cuts, set into a platinum bracelet, The Hallucination brings high-fashion to the world of horlogerie.
4. The Hope Diamond The most expensive and perhaps the most famous jewel in the world is a 45.52 carat blue stone known as the Hope Diamond. Believed to have been discovered in India in the 1600s, the Hope Diamond was bought by King Louis XIV in 1668. This $250 million worth carat Fancy Dark Gray-Blue antique cushion cut diamond was later stolen during a crown jewel looting in 1791 but resurfaced in London in 1839.
5. 

World's costliest: House, Car, Watch, Jewellery Piece, Painting 

From the priciest house to the costliest painting and beyond, here are 5 such things that you might never be able to afford in this lifetime, and if you're able to afford, you might not see the value in the price tag

From the priciest house to the costliest painting and beyond, here are 5 such things that you might never be able to afford in this lifetime

At a time when lemons and tomatoes are making it on the list of expensive items we look at some of the priciest things money can buy!&nbsp; World's most expensive home:&nbsp;Buckingham Palace&nbsp; You may not see a "For Sale" sign on this London property but home to the British Monarch is valued at $6.7 billion dollars. This 775 room&nbsp;palace has served as the monarchy's headquarter&nbsp;since 1837. Spread across 39 acres, the residence has everything it needs to be its own self-sufficient village, including a post office, movie theatre, police station and clinic.
Also read/watch|&nbsp;<a title="Explained | Why Tesla is no longer on 'green and clean' index, Musk calls S&amp;P a scam" href="https://www.editorji.com/business-news/markets/explained-why-tesla-is-no-longer-on-green-and-clean-index-musk-calls-s-p-a-scam-1652950825989">Explained | Why Tesla is no longer on 'green and clean' index, Musk calls S&amp;P a scam</a> World's most expensive ride:&nbsp;1963 Ferrari 250 GTO&nbsp;
Zooming in with a $70 million price tag is the ultimate collectible car -&nbsp;Ferrari 250 GTO&nbsp;also dubbed "Il Mostro&rdquo;&mdash;the monster. With only 36 of these cars ever manufactured, it calls for top billing at an auction as a nine-time in a row winner of the&nbsp;Tour de France. With a top speed of 174 miles per hour it is definitely not the fastest but remains the costliest car by a mile and yes they are still in running condition.&nbsp; World's most expensive watch:&nbsp;Graff Diamonds Hallucination
Even if your eyes are able to handle the sparkle, the price tag will surely blind you. The&nbsp;Graff Diamonds Hallucination clocks in with a price of $55 million and can be considered more a piece of jewellery with 110 carats of different coloured diamonds in a range of different cuts, set into a platinum bracelet. But if one had to evaluate the worth of a watch for just its making and brand then the&nbsp; Patek Philippe Grandmaster Chime commands pole position; worth a whopping $31 million. 
World's most expensive jewellery:&nbsp;The&nbsp;Hope Diamond The Hope Diamond is a 45.52-carat diamond originally extracted in the 17th century from the Kollur Mine in Guntur&nbsp;and&nbsp;was bought by King Louis XIV in 1668. This $250 million worth carat Fancy Dark Gray-Blue antique cushion cut diamond was later stolen during a crown jewel looting in 1791 but resurfaced in London in 1839.&nbsp;According to the legend, there is a curse that comes with the glitter,&nbsp;a curse that foretold bad luck and death not only for the owner of the diamond but for all who touched it.
World's most expensive painting:&nbsp;Salvator Mundi The image of Christ as The Saviour of the World was billed as the Last da Vinci&nbsp;at Christie's 2017 and broke all&nbsp;records when it was bought for $450 million in 2017 by the Saudi Royal family. Not been seen in public since then but it remains in the news as art connoisseurs continue to debate if the&nbsp;Salvator Mundi&nbsp;is indeed a work by the master or just his assistants. In an era where digital art and Beeple's make headlines, Da Vinci&nbsp;still remains the holy grail for collectors.&nbsp;

Month after announcing the disappointing subscriber growth slowdown in more than a decade, Netflix lays off about 150 employees. The cuts represent 2 per cent of the streamer’s total workforce, with most of the cuts made in the United States. 
According to reports, the layoffs come across departments and are driven by the need to reduce expenses rather than the performance of individual employees. In addition to the layoff of 150 full-time employees, Netflix is eliminating about 70 part-time jobs in its animation studio and is also cutting freelance roles in its social media and publishing group. The new round of cuts comes less than a month after multiple full-time staff and contractors in Netflix’s editorial and marketing division were laid off.
In April, during its first-quarter earnings announcement, Netflix revealed it had lost 200,000 subscribers in the quarter and expected to lose an additional 2 million during the second quarter. 

Netflix starts sacking, cancelling shows as subscribers shrink

Netflix starts sacking and subcribers shrink

Netflix starts sacking and subscribers shrink

Netflix surprised Wall Street in the first quarter of 2022,&nbsp;reporting a net loss of 200,000 streaming customers&nbsp;&mdash; its first decline in more than a decade

Netflix&nbsp;has fired 150 people as the streaming platform faces revenue pressure with subscribers dropping for the first time in over a decade.&nbsp;The cuts represent 2 per cent of the streamer&rsquo;s total workforce, with most of the cuts made in the United States.&nbsp;
In addition to the layoff of 150 full-time employees, Netflix is eliminating about 70 part-time jobs in its animation studio and is also cutting freelance roles in its social media and publishing group.&nbsp;
Also read/watch|&nbsp;<a title="Watch: Russians queue up at McDonald's outlets as it exits the country" href="https://www.editorji.com/business-news/watch-russians-queue-up-at-mcdonald-s-outlets-as-it-exits-the-country-1652853953737">Watch: Russians queue up at McDonald's outlets as it exits the country</a>
It is not just people but even shows that are getting the 'pink slip' as they get cancelled.&nbsp;The shows Netflix has axed range from critically-acclaimed horrors like Archive 81 to beloved family viewings like The Babysitters' Club, and, well, Cooking with Paris. Nothing and no one it seems, is safe.

From poop slinging to cocky responses, the repartee on Twitter from Elon Musk is casting a doubt on whether this eccentric billionaire will actually buy the social media platform. The War on Bots - Short para on the bot argument But is the real problem debt? (reword this info)But underpinning the deal is a $13 billion debt bill that’s looking like a bigger burden by the day.
Twitter’s annual interest expense to around $900 million, while Bloomberg Intelligence sees $750 million to $1 billion.
With numbers like those, Twitter looks poised to burn cash, boosting the pressure on Musk to transform the company by finding new sources of revenue and slashing costs. FIND AN ENDING 

Bots or Bills, what is really giving Musk second thoughts about Twitter

Pressure will mount on Musk to monetise Twitter as deal brings with it $1 billion interest expense to the social media platform

From poop-slinging to cocky responses, the repartee&nbsp;on Twitter from Elon&nbsp;Musk is casting a doubt on whether this eccentric billionaire will actually buy the social media platform.&nbsp; The War on Bots
Earlier, Musk replied with a poop emoji&nbsp;after Twitter CEO&nbsp;Parag&nbsp;Agrawal&nbsp;in a tweet thread mentioned that it would be difficult to conduct an external audit on the platform's spam accounts. Musk and Agrawal&nbsp;have been in a wrangle lately as the Tesla CEO&nbsp;expresses his doubts over the success of the deal if Twitter fails to provide proof of spam accounts.
Also read/watch |<a href="https://www.editorji.com/business-news/watch-russians-queue-up-at-mcdonald-s-outlets-as-it-exits-the-country-1652853953737" target="_blank">&nbsp;Watch: Russians queue up at McDonald's outlets as it exits the country</a>
But is the real problem debt?
Underpinning the deal is a $13 billion debt bill that&rsquo;s looking like a bigger burden by the day.&nbsp;Twitter&rsquo;s annual interest expense to around $900 million, while Bloomberg Intelligence sees $750 million to $1 billion.
With numbers like those, Twitter looks poised to burn cash, boosting the pressure on Musk to transform the company by finding new sources of revenue and slashing costs.
Musk wanted to eliminate spam Twitter accounts
Well, one must remember that Musk offered to buy the social media giant for $44 billion as he decided to eliminate bots from Twitter. Even after buying the largest stake in the company, Musk tweeted, "If our Twitter bid succeeds, we will defeat the spam bots or die trying!&rdquo;
So, now the question arises, if he already knew about the problem of bots -- and Twitter has always said the real number could be higher even though their best estimate calculated it to be sub-5 percent&nbsp;-- then why didn't the eccentric billion do the due diligence before announcing the deal.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/paytm-mall-99-5-valuation-decline-as-key-investors-alibaba-ant-group-exit-1652787134002" target="_blank">Paytm Mall: 99.5% valuation decline as key investors Alibaba, Ant Group exit</a>
We must also look at the deal offer which was made at $54.20 per share. Since then the prices of tech companies have corrected sharply and hence a $54 per share seems like a significantly premium offer for a share that has already been trading at $38.

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The Reserve Bank of India has set up an expert committee to review the economic capital framework of the central bank. Former RBI Governor Bimal Jalan will head the panel, which will decide whether RBI is holding reserves and buffers in surplus or deficit of the required levels. RBI's core reserve is only around 7% of its total assets, the rest of it is largely in revaluation reserves which fluctuate with changes in currency and gold value.

In a big crackdown on digital lending after rising number of complaints and fraud the Reserve Bank of India cancelled licenses for 5 non-bank financiers. The RBI stated that these NBFCs were engaged in digital lending were in violation guidelines. These non-banking financial companies (NBFCs) used to run apps and service providers like Fastapp Technologies Private Ltd, Datimes Pvt Ltd, Bullintech Finance Pvt Ltd, TGHY Trustrock Pvt Ltd, Mrupee, Kush Cash, Karna Loan, Mr Cash, FlyCash, More, Wifi Cash, Badabro, Aeritech Pvt Ltd, Finclub Technologies Pvt Ltd, MoNeed, MoMo, CashFish, Kredipe, RupeeLand and Rupee Master.The action comes as the central bank has repeatedly warned customers against the questionable digital money lending entities that promise loans in seconds. Some of the lending apps under the lens have been charging exorbitant rates of interest on 'instant loans', and then use muscle powers to recover dues.Digital lending has seen a more than twelvefold increase in India from 2017 to 2020, according to a November 2021 report by the Reserve Bank of India.Sachet, a portal to file complaints with the RBI, received 2,562 complaints of lending apps promoted by unregulated entities between January 2020 and March 2021. Google Play store had removed over 205 such apps as of November 2021.

Beware of online lending apps! RBI cancels licenses of instant loan providers

The non-bank lenders whose licences were cancelled by RBI on&nbsp; include, UMB Securities, Anashri Finvest, Chadha Finance Private, Alexcy Tracon&nbsp;and Jhuria Financial Services

In a big crackdown on digital lending after rising number of complaints and fraud the Reserve Bank of India cancelled licenses for 5&nbsp;non-bank financiers. The RBI&nbsp;stated that these NBFCs&nbsp;were engaged in digital lending were in violation guidelines.&nbsp; These non-banking financial companies (NBFCs) used to run apps and service providers like Fastapp Technologies Private Ltd, Datimes Pvt Ltd, Bullintech Finance Pvt Ltd, TGHY Trustrock Pvt Ltd, Mrupee, Kush Cash, Karna Loan, Mr Cash, FlyCash, More, Wifi Cash, Badabro, Aeritech Pvt Ltd, Finclub Technologies Pvt Ltd, MoNeed, MoMo, CashFish, Kredipe, RupeeLand and Rupee Master.
Also read/watch| <a title="Twitter twists: Jack Dorsey off the board, another Musk backer gets the boot" href="https://www.editorji.com/business-news/twitter-twists-jack-dorsey-off-the-board-another-musk-backer-gets-the-boot-1653558018806">Twitter twists: Jack Dorsey off the board, another Musk backer gets the boot</a> The action comes as the central bank has repeatedly warned customers against the questionable digital money lending entities that promise loans in seconds. Some of the lending apps&nbsp;under the lens have been charging exorbitant rates of interest on 'instant loans', and then use muscle powers to recover dues. Digital lending has seen a more than twelvefold increase in India from 2017 to 2020, according to a&nbsp;November 2021 report&nbsp;by the Reserve Bank of India. Sachet, a portal to file complaints with the RBI, received 2,562 complaints of lending apps promoted by unregulated entities between January 2020 and March 2021. Google Play store had removed over 205 such apps as of November 2021.

Jack Dorsey is no longer a board member at Twitter, this marks an end of a 'formal and executive' role for the co-founder with the app he founded in 2006. Dorsey who has been a director since 2007  did not stand for reinstatement as he had declared in November he would be stepping down as he handed over CEO reigns to Parag Agrawal. Dorsey’s exit marks the first time in Twitter’s history that none of its co-founders is working at the company, or sitting on the board.The microblogging site is facing extreme turmoil with a takeover from the world's richest man Elon Musk. Meanwhile Musk backer, Egon Durban, the co-Chief Executive Officer of private equity firm Silver Lake, failed to get enough votes for re-election to the board during the company’s annual shareholder meeting as well. 

Twitter twists: Jack Dorsey off the board, Musk backer gets the boot

Twitter twists: Jack Dorsey off the board, another Musk backer gets the boot

Twitter Inc. director Egon Durban failed to get the votes to stay on the social media platform's board.&nbsp;

Jack Dorsey is no longer a board member at Twitter, this marks an end of a 'formal and executive' role for the co-founder with the app he founded in 2006.&nbsp;
Also read/watch|&nbsp;<a title="Beware of online lending apps! RBI cancels licenses of instant loan providers" href="https://www.editorji.com/business-news/personal-finance/beware-of-online-lending-apps-rbi-cancels-licenses-of-instant-loan-providers-1653560268638">Beware of online lending apps! RBI cancels licenses of instant loan providers</a>
 Dorsey who has been a director since 2007&nbsp; did not stand for reinstatement as he had declared in November he would be stepping down as he handed over CEO&nbsp;reigns to Parag&nbsp;Agrawal.&nbsp;Dorsey&rsquo;s exit marks the first time in Twitter&rsquo;s history that none of its co-founders is working at the company, or sitting on the board. The microblogging site is facing extreme turmoil with a takeover from the world's richest man Elon&nbsp;Musk. Meanwhile Musk backer, Egon Durban, the co-Chief Executive Officer of private equity firm Silver Lake, failed to get enough votes for re-election to the board during the company&rsquo;s annual shareholder meeting as well.&nbsp;

After oil, lemons and wheat now tomatoes are jeopardising the common man's kitchen budget!While cherry tomato is being sold at 360 per kg in the national capital region, in many cities its prices have reached Rs 100 for regular tomatoes amid shortfall in supply.Apart from tomatoes, prices of wheat, oil, sugar and spices have also gone costlier. 
While the retail prices of atta have shot up to Rs 32.91 per kg from Rs 28.8 per kg, lemon prices have also risen to Rs 350 per kg in Delhi.  
Prices of spices have surged, led by cumin.  Prices of cumin or jeera, the second most widely consumed spice, have shot up to a five-year high, as output has shrunk by a third. 
 
 

Tomatoes hit a centuru! Prices turn consumers red in anger

After oil, lemons and wheat, tomatoes are now jeopardising the common man's kitchen budget!


Tomatoes hit a century! Prices turn consumers red in anger

Amid the shortage of supply, the tomato prices have reached Rs 80 to Rs 100 per Kg

Move aside lemons, tomatoes are taking over the shocking price spotlight as prices soar to Rs 100/kilo in the retail market. Shortage in supply and unpredictable weather conditions have led to a huge price in the prices of this essential vegetable.&nbsp; Wholesale prices of tomatoes in Chennai are in the range of Rs 80 to Rs 95 and are expected to rise only due to heavy rainfall in both Andhra and Karnataka. Meanwhile, the gourmet option i.e. the cherry tomato is being sold at 360 per kilo by various delivery apps.&nbsp;
Also read/watch| <a title="Pakistan faces bankruptcy, funds to cover only 2 months of imports" href="https://www.editorji.com/business-news/economy/pakistan-faces-bankruptcy-funds-to-cover-only-2-months-of-imports-1653549270203">Pakistan faces bankruptcy, funds to cover only 2 months of imports</a> Apart from tomatoes, prices of wheat, oil, sugar and spices have also gone costlier.&nbsp;
While the retail prices of&nbsp;atta&nbsp;have shot up to Rs 32.91 per kg from Rs 28.8 per kg, lemon prices have also&nbsp;risen to Rs 350 per kg in Delhi.&nbsp;&nbsp;
Prices of spices have surged, led by cumin.&nbsp;&nbsp;Prices of cumin or jeera, the second most widely consumed spice, have shot up to a five-year high, as output has shrunk by a third.&nbsp;
&nbsp;
&nbsp;

Pakistan in the headlines but the news grim as the economy faces a complete collapse. The govt is hoping that the IMF will lift the suspension and provide the much needed financial assistance to keep the country afloat. The foreign exchange reserves with the govt has dwindled to $10 billion, just enough to cover imports up to 2 months and if you take out the gold and look at just the liquid reserves it is barely enough to cover 1 month of imports. The govt is overshooting expenditure and running out of money. The fiscal deficit could hit $30 bn, or about 8.8% of GDP by the end of this quarter. High subsidies, not passing on petrol price hikes, low tax collection from the rich and political turmoil has taken a severe toll on the finances. Add to that mounting debt and inability to get funds as international debt market remain virtually shut. Adding to the repayment pressure, Pakistan also owes China $4.3 bn in short-term loans in addition to the expensive loans to finance the power plants built under the China-Pakistan Economic Corridor programme. The new government hopes to stop the bleeding with an enhanced IMF package and more short-term loans from allies China and Saudi Arabia. Meanwhile it rolls out big rate hikes to battle high inflation which now is clocking above 13% and likely to escalate to 30% as per some experts. 

Pakistan's economy at the bring of collapse! Will IMF rescue it?

Pakistan faces bankruptcy, funds to cover only 2 months of imports

Pakistan and IMF have been negotiating over $3 billion from a loan program

Pakistan in the headlines but the news grim as the economy faces a complete collapse. The govt is hoping that the IMF&nbsp;will lift the suspension and provide the much needed financial assistance to keep the country afloat.&nbsp; The foreign exchange reserves with the govt has dwindled to $10 billion, just enough to cover imports up to&nbsp;2 months and if you take out the gold and look at just the liquid reserves it is barely enough to cover 1 month of imports. The govt is overshooting expenditure and running out of money. The fiscal deficit could hit $30 bn, or about 8.8% of GDP by the end of this quarter.&nbsp;
Also read/watch| <a title="Tomatoes hit a century! Prices turn consumers red in anger" href="https://www.editorji.com/business-news/personal-finance/tomatoes-hit-a-century-prices-turn-consumers-red-in-anger-1653549844226">Tomatoes hit a century! Prices turn consumers red in anger</a> High subsidies, not passing on petrol price hikes, low tax collection from the rich and political turmoil has taken a severe toll on the finances. Add to that mounting debt and inability to get funds as international debt market remain virtually shut. Adding to the repayment pressure,&nbsp;Pakistan also owes China $4.3 bn in short-term loans in addition to the expensive loans to finance the power plants built under the China-Pakistan Economic Corridor programme.&nbsp; The new government hopes to stop the bleeding with an enhanced IMF package and more short-term loans from allies China and Saudi Arabia. Meanwhile it rolls out big rate hikes to battle high inflation which now is clocking above 13% and likely to escalate to 30% as per some experts.&nbsp;

Infosys has rewarded CEO Salil Parekh with a 88% pay hike, making his compensation soar from Rs 42 crore to Rs 79 crore as per the annual report filing. With almost 97% of the hike based on performance variable the annual filing goes into great detail to justify this gigantic jump. "Under Salil’s leadership 1 , the Company’s Total Shareholder Return (TSR) was an impressive 314%, the highest among peers The revenue growth of the Company under Salil’s leadership has accelerated and grown from `70,522 crore (fiscal 2018) to `1,21,641 crore (fiscal 2022), a CAGR of 15% (prior four years CAGR 9%) and the profits have also increased from `16,029 crore to `22,110 crore", the report said.Parekh has been the Chief Executive Officer and Managing Director of Infosys since Jan 2018 and took over a difficult time for the tech major. However a turnaround has been scripted and that is reflecting in the market bets over the last 5 years with its shares rallying 187 per cent, and its market value rising by nearly Rs 4 lakh crore.

Infosys CEO gets a mega hike, this is how much he makes after a 88% jump

Parekh has been the Chief Executive Officer and Managing Director of Infosys since Jan 2018 and took over a difficult time for the tech major. However a turnaround has been scripted and that is reflecting in the market bets over the last 5 years with its shares rallying 187 per cent, and its market value rising by nearly Rs 4 lakh crore.

Infosys CEO Salary Hike: Salil Parekh gets a big hike in compensation, jumps to Rs 79 crore year from Rs 42 crores

Almost 97% of the increase in the proposed annual remuneration is linked to performance.

Infosys&nbsp;has rewarded CEO&nbsp;Salil&nbsp;Parekh&nbsp;with a 88% pay hike, making his compensation soar from Rs 42 crore&nbsp;to Rs 79 crore as per the annual report filing.&nbsp;
Also read/watch| <a title="Terra LUNA 2.0: Collapse to resurrection, meet the new crypto avatar" href="https://www.editorji.com/business-news/cryptocurrency/terra-luna-2-0-collapse-to-resurrection-meet-the-new-crypto-avatar-1653532939822">Terra LUNA 2.0: Collapse to resurrection, meet the new crypto avatar</a> With almost 97% of the hike based on performance variable the annual filing goes into great detail to justify this gigantic jump.&nbsp; "Under Salil&rsquo;s leadership 1 , the Company&rsquo;s Total Shareholder Return (TSR) was an impressive 314%, the highest among peers The revenue growth of the Company under Salil&rsquo;s leadership has accelerated and grown from `70,522 crore (fiscal 2018) to `1,21,641 crore (fiscal 2022), a CAGR of 15% (prior four years CAGR 9%) and the profits have also increased from `16,029 crore to `22,110 crore", the report said. Parekh&nbsp;has been the Chief Executive Officer and Managing Director of Infosys since Jan 2018 and took over a difficult time for the tech major. However a turnaround has been scripted and that is reflecting in the market bets over the last 5 years with its shares rallying 187 per cent, and its market value rising by nearly Rs 4 lakh crore.

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