“Warning! Umbrellas are not waterproof!” this tweet from China based user went viral as luxury brands Gucci and sportswear brand faced backlash as they sold an umbrella worth 11,100 yuan ($1,644) which did not keep the rain. A hashtag on “the collaboration umbrella being sold for 11,100 yuan is not waterproof” attracted more than 140 million views on social media site Weibo.Gucci's website, which earlier described it as an umbrella, later changed the classification to "sun umbrella" or a parasol as the backlash grew. Netizens made a splash with tweets flooding social media platforms mocking the product. 

This Rs 1.2 lakh worth umbrella from Gucci, Adidas is not waterproof!

Netizens made a splash with tweets flooding social media platforms mocking the product. 

The item was earlier described as an umbrella, later changed the classification to "sun umbrella" or a parasol on the Gucci website

&ldquo;Warning! Umbrellas are not waterproof!&rdquo; this tweet from China based user went viral as luxury brands Gucci and sportswear brand faced backlash as they sold an umbrella worth 11,100 yuan ($1,644) which did not keep the rain.&nbsp; A hashtag on &ldquo;the collaboration umbrella being sold for 11,100 yuan is not waterproof&rdquo; attracted more than 140 million views on social media site Weibo. Also read/watch| <a title="Mirror mirror on the wall, which are the most costliest things of them all?" href="https://www.editorji.com/business-news/mirror-mirror-on-the-wall-which-are-the-most-costliest-things-of-them-all-1652957768006">Mirror mirror on the wall, which are the most costliest things of them all?</a> Gucci's website, which earlier described it as an umbrella, later changed the classification to "sun umbrella" or a parasol as the backlash grew.&nbsp; Netizens&nbsp;made a splash with tweets flooding social media platforms mocking the product.&nbsp;

Another startup story gone sour! Singapore based B2B fashion venture has fired it's CEO and co-founder Ankiti Bose, two months after she was suspended. In a statement released Zilingo informed investors "Following an investigation led by an independent forensics firm that was commissioned to look into complaints of serious financial irregularities, the company has decided to terminate Ankiti Bose’s employment with cause, and reserves the right to pursue appropriate legal action."  

Startup Scandal: Sequoia backed Zilingo fires CEO Ankiti Bose


Bose who founded the company in 2015 with Dhruv Kapoor is facing allegation and investigation around financial irregularities bought up by investor Sequoia 

Singapore's B2B fashion startup&nbsp;had suspended Bose on March 31

Another startup&nbsp;story gone sour! Singapore based&nbsp;B2B fashion venture has fired it's CEO&nbsp;and co-founder Ankiti&nbsp;Bose, two months after she was suspended.&nbsp; In a statement released Zilingo&nbsp;informed investors&nbsp;"Following an investigation led by an independent forensics firm that was commissioned to look into complaints of serious financial irregularities, the company has decided to terminate Ankiti Bose&rsquo;s employment with cause, and reserves the right to pursue appropriate legal action."&nbsp;&nbsp; Bose who founded the company in 2015 with Dhruv&nbsp;Kapoor&nbsp;is facing allegation and investigation around financial irregularities bought up by investor Sequoia . She was suspended from her duties on March 31 after which the company launched an investigation.Co-founder Dhruv Kapoor is looking after his primary role as the CTO and Bose&rsquo;s role as CEO in her absence.

Nicknamed Silicon Valley kingmaker, investment firm Y Combinator is warning startups that it may be winter for businesses soon as the trend is reversing on what has been a decade long bull run for disruptors. “If your plan is to raise money in the next 6-12 months, you might be raising at the peak of the downturn. Remember that your chances of success are extremely low even if your company is doing well. We recommend you change your plan,” the firm said in the letter, titled “Economic Downturn.”Y Combinator (YC) backs hunders of startups yearly and has recently chopped down the value for giants such as Shopify and Netflix as it warns early-stage startups universe will also feel the heat. YC raised the red flag on funding as it advised founders that-:"Irrespective of your ability to fundraise, it’s your responsibility to ensure your company will survive if you cannot raise money for the next 24 months."Globally and in India funding for startups has slowed and firing amongst some of the larger names has been brutal as revenue slowdown is adding pressure to books and cashflow.

Startups warned 'Prepare or the Worst' by Silicon Valley kingmaker

Startups warned by Silicon Valley kingmaker - Be ready to change your plans and survive without funding for the next 24 months

Startups warned - be prepared for the worst

Y Combinators&nbsp;early backings include investments in Dropbox, Coinbase, Airbnb and Reddit

Nicknamed&nbsp;Silicon Valley kingmaker, investment firm Y Combinator&nbsp;is warning startups that it may be winter for businesses soon as the trend is reversing on what has been a decade long bull run for disruptors.&nbsp; &ldquo;If your plan is to raise money in the next 6-12 months, you might be raising at the peak of the downturn. Remember that your chances of success are extremely low even if your company is doing well. We recommend you change your plan,&rdquo; the firm said in the letter, titled &ldquo;Economic Downturn.&rdquo;
Also watch |&nbsp;<a href="https://www.editorji.com/business-news/relief-to-burning-high-prices-edible-prices-may-come-down-1653024606393">Relief to burning high prices, edible prices may come down</a>
Y Combinator&nbsp;(YC)&nbsp;backs hunders&nbsp;of startups&nbsp;yearly and has recently chopped down the value for giants such as Shopify and Netflix as it warns&nbsp;early-stage startups universe will also feel the heat.&nbsp; YC raised the red flag on funding as it advised founders that-: "Irrespective of your ability to fundraise, it&rsquo;s your responsibility to ensure your company will survive if you cannot raise money for the next 24 months." Globally and in India funding for startups&nbsp;has slowed and firing amongst some of the larger names has been brutal as revenue slowdown is adding pressure to books and cashflow.
Also watch |&nbsp;<a href="https://www.editorji.com/business-news/canada-bans-chinese-telecom-giant-huawei-zte-from-5g-network-1653012922195" target="_blank">Canada bans Chinese telecom giant Huawei, ZTE from 5G network</a>

Households may see some reprieve as cooking oil prices are set to ease with Indonesia lifting it's export ban. Indonesia, the world’s biggest shipper of edible oils, had imposed a ban on exports of palm oil on April 28. Palm oil is used in everything from food to soap to fuel. The Indonesian govt lifted the the ban after hundreds of farmers rallied to protest the move, saying their incomes have suffered because prices of their fresh fruit bunches plunged.Domestic edible oil prices have increased by more than 50% in the last one year, taking cue from global elevated prices due to shortfall in production. 

Relief to burning high prices, edible prices may come down

The Indonesian govt lifted the the ban after hundreds of farmers rallied to protest the move, saying their incomes have suffered because prices of their fresh fruit bunches plunged.

India imports about 55% of its annual edible oil consumption

Households may see some reprieve as cooking oil prices are set to ease with Indonesia lifting it's export ban.&nbsp;Indonesia, the world&rsquo;s biggest shipper of edible oils, had imposed a ban on exports of palm oil on April 28.&nbsp;Palm oil is used in everything from food to soap to fuel.&nbsp;
The Indonesian govt lifted the the ban after hundreds of farmers rallied to protest the move, saying their incomes have suffered because prices of their fresh fruit bunches plunged.
Also read/watch| <a title="Canada bans Chinese telecom giant Huawei, ZTE from 5G network" href="https://www.editorji.com/business-news/canada-bans-chinese-telecom-giant-huawei-zte-from-5g-network-1653012922195">Canada bans Chinese telecom giant Huawei, ZTE from 5G network</a>
Domestic edible oil prices have increased by more than 50% in the last one year, taking cue from global elevated prices due to shortfall in production.&nbsp;
India annually imports 8-8.5 million tonnes palm oil. Almost 45-50% of palm oil comes from Indonesia and the rest from neighbouring Malaysia.

Is SpiceJet facing payment issues ? A grounded flight on the tarmac raised speculation as a tweet from a passenger was circulated widely. Tweeting an image of the grounded aircraft, the passenger complainted that they had been sitting at the tarmac aboard @flyspicejet flight SG-191 (DEL to BLR) for >45 minutes. Only communication from your team is that “there has been some mixup in paperwork with ATC”. What’s up @flyspicejet ?!This is a developing story and no official response was put out by the airline at the time of writing this copy. Reports indicated that Air Traffic Control (ATC) stopped SpiceJet from flying due to payment issues on Friday morning. 
 

SpiceJet facing payment issue? Flight halted on tarmac

Is SpiceJet facing payment issues ? A grounded flight on the tarmac raised speculation as a tweet from a passenger was circulated widely. 

Flight from Delhi to Bengaluru&nbsp;was halted on the tarmac for over 40 minutes

Is&nbsp;SpiceJet&nbsp;facing payment issues ? A grounded flight on the tarmac raised speculation as a tweet from a passenger was circulated widely.&nbsp; Tweeting an image of the grounded aircraft, the passenger complained&nbsp;that they had been sitting at the tarmac aboard @flyspicejet flight SG-191 (DEL to BLR) for &gt;45 minutes. Only communication from your team is that &ldquo;there has been some mixup in paperwork with ATC&rdquo;. What&rsquo;s up @flyspicejet ?! However the company was quick to clarified&nbsp;that "Due to a technical glitch in SAP, the automatic daily payment could not be processed. The same is being made manually to AAI which has been apprised of the issue. SpiceJet&rsquo;s flight operations are now continuing normally."
Also Watch:<a href="https://www.editorji.com/business-news/first-ever-5g-call-telecom-minister-dials-in-1653015578745" target="_blank">&nbsp;First ever 5G call! Telecom Minister dials in</a>

"Aatmanirbhar 5G. Successfully tested 5G call at IIT Madras. Entire end-to-end network is designed and developed in India," Ashwini 
 Vaishnaw said in a social media post.

5G Call in India: Watch Video! Telecom Minister Ashwini Vaishnaw dials in, first ever 5G call made 

"Aatmanirbhar 5G. Successfully tested 5G call at IIT Madras. Entire end-to-end network is designed and developed in India," Vaishnaw said in a social media post.

5G calling, Telecom Minister makes the first call

Prime Minister Narendra Modi&nbsp;inaugurated the country's first 5G test-bed, incubated at IIT Madras

India dialled into the next generation calling system as Union minister Ashwini Vaishnaw&nbsp; made the first <a href="https://www.editorji.com/business-news/first-ever-5g-call-telecom-minister-dials-in-1653015578745" target="_blank">5G call</a> on a trial network set up at IIT Madras using indigenously-developed telecom gears.
"Aatmanirbhar 5G. Successfully tested 5G call at IIT Madras. Entire end-to-end network is designed and developed in India," Vaishnaw said in a social media post.
The telecom minister, after making a video call on indigenously developed <a href="https://www.editorji.com/business-news/canada-bans-chinese-telecom-giant-huawei-zte-from-5g-network-1653012922195" target="_blank">5G technology</a> gears, said that it is the realisation of the prime minister's vision.
"His (PM's) vision is to have our own 4G, 5G technology stack, developed in India, made in India and made for the world. We have to win the world with this entire technology stack," Vaishnaw said after making the call.
The government expects commercial roll-out of 5G services to start in the country by August-September this year.At present, telecom companies have been allowed to only conduct trial of 5G services.
The&nbsp;5G test-bed has been developed as a multi-institute collaborative project by eight institutes led by IIT Madras.In the absence of a 5G test-bed, startups and other industry players were required to go abroad to test and validate their products for installation in a 5G network.
Also Watch:&nbsp;<a href="https://www.editorji.com/business-news/spicejet-flight-halted-due-to-lack-of-payment-find-out-what-happened-1653019017695" target="_blank">SpiceJet flight halted due to lack of payment, find out what happened</a>&nbsp;
Prime Minister Narendra Modi on Tuesday inaugurated the country's first 5G test-bed, incubated at IIT Madras, to enable startups and industry players to test and validate their products locally and reduce dependence on foreign facilities.

Canada is banning China's Huawei Technologies and ZTE, another Chinese company, from participating in the country’s 5G wireless networks, citing national security concerns.

Canada bans Chinese telecom giant Huawei, ZTE from 5G network

The U.S. has long pressed it's northern neighbour to deny Huawei a role in building the country’s 5G infrastructure, saying it would allow Beijing to spy on Canadians more easily.

The rest of the Five Eyes network &ndash; the United States, Britain, Australia and New Zealand &ndash; have already banned Huawei equipment.

Canada is banning China's Huawei Technologies and ZTE, another Chinese company, from participating in the country&rsquo;s 5G wireless networks, citing national security concerns. The U.S. has long pressed it's northern neighbour&nbsp;to deny Huawei a role in building the country&rsquo;s 5G infrastructure, saying it would allow Beijing to spy on Canadians more easily.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/google-russia-to-file-for-bankruptcy-can-t-pay-100-employees-1652962413917" target="_blank">Google Russia to file for bankruptcy; can't pay 100 employees</a> The rest of the intelligence alliance called,&nbsp;Five Eyes network &ndash; the United States, Britain, Australia and New Zealand &ndash; have already banned&nbsp;Huawei&nbsp;equipment. Canada&rsquo;s national security, Industry Minister Francois-Philippe Champagne said&nbsp;&ldquo;We&rsquo;ll take any actions necessary to safeguard our telecommunications infrastructure,&nbsp;oviders who already have this equipment installed will be required to cease its use and remove it under the plans we are announcing today."
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/mirror-mirror-on-the-wall-which-are-the-most-costliest-things-of-them-all-1652957768006" target="_blank">Mirror mirror on the wall, which are the most costliest things of them all?</a> India last year in May while announcing its <a href="https://www.editorji.com/business-news/first-ever-5g-call-telecom-minister-dials-in-1653015578745" target="_blank">5G plans</a> had 'left out' all Chinese companies while giving the rest the nod while no explicit ban was announced.&nbsp; Huawei is the biggest global supplier of network gear for phone and internet companies. It has been a symbol of China&rsquo;s progress in becoming a technological world power - and a subject of U.S. security and law enforcement concerns.

Zepto, an instant grocery delivery app, has announced a compensation of ₹10 lakh for the family of its delivery agent who was killed in a hit-and-run accident in Delhi on Wednesday. 
The delivery app issued a statement on Twitter saying that Karan, the delivery agent, was wearing a helmet and riding on the right side of the road when he was hit from behind. The statement further added that Karan died in Delhi's Safdarjung Hospital on Wednesday. 
Zepto said that the police has filed an FIR in the case and the app is working closely with authorities. 
In addition to a compensation of ₹10 lakh, the company is also provinding an additional granted of ₹8 lakh, Zepto said in its statement. 

Delhi: Zepto delivery agent dies in hit-and-run accident, app pays ₹10 lakh compensation 

Zepto has announced a compensation of ₹10 lakh for the family of its delivery agent who was killed in a hit-and-run accident in Delhi on Wednesday. 

The delivery app issued a statement on Twitter saying that Karan, the delivery agent, was wearing a helmet and riding on the right side of the road when he was hit from behind.

Zepto, an instant grocery delivery app, has announced a compensation of ₹10 lakh&nbsp;for the family of its delivery agent who was killed in a hit-and-run accident in Delhi on Wednesday.&nbsp;
The delivery app issued a statement on Twitter saying that Karan, the delivery agent, was wearing a helmet and riding on the right side of the road when he was hit from behind. The statement further added that Karan&nbsp;died in Delhi's Safdarjung Hospital on Wednesday.&nbsp;
Zepto&nbsp;said that the police has filed an FIR in the case and the app is working closely with authorities.&nbsp;
Also watch: <a href="https://www.editorji.com/business-news/instant-food-delivery-raises-questions-on-delivery-risks-for-workers-1647932694820">Instant food delivery raises questions on delivery risks for workers</a>
In addition to a compensation of&nbsp;₹10 lakh, the company is also provinding&nbsp;an additional grant of&nbsp;₹8 lakh, Zepto&nbsp;said in its statement.&nbsp;

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;

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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Markets on Wednesday closed in red after volatile trading in a 475-point range. Sensex slipped by 100 points while Nifty failed to hold onto 11,500 mark led by oil and auto stocks. However, Nifty Bank managed to post a record closing, surpassing 30,000 for the first time ever. The market breadth was in favour of declines while midcaps managed to outperform peers closing in green.

Markets on Wednesday closed in red after volatile trading in a 475-point range. Sensex slipped by 100 points while Nifty failed to hold onto 11,500 mark led by oil and auto stocks. However, Nifty Bank managed to post a record closing, surpassing 30,000 for the first time ever. The market breadth was in favour of declines while midcaps managed to outperform peers closing in green.

CNG&nbsp;Price Hike Latest News:&nbsp;CNG price increased by Rs 2 per kg in Delhi and NCR.&nbsp;CNG is now priced at Rs 75.61 per kg in Delhi, Rs 78.17 per kg in Noida, while in Gurugram, it will cost Rs 83.94 per kg. This is the second hike in CNG&nbsp;in less that a week.The price of CNG&nbsp;has been adding considerable pressure on budgets.&nbsp;This is the fourth price hike this month and the 12th since March 7. In all, CNG price has risen by Rs 17.6 per kg in less than six weeks. This includes a&nbsp;₹9.50 per kg hike in the last month along.&nbsp;In the last one year, prices have increased by&nbsp;₹30.21 per kg or 60%.&nbsp;Rising CNG&nbsp;prices has led to pressure on auto drivers in the capital region as well and the unions have demanded a fare revision. As per reports a Delhi government committee tasked with fare revision of auto-rickshaws and taxis is likely to recommend a proportionate increase in fares soon.&nbsp;

CNG Price Hike: CNG price increased by Rs 2 per kg in Delhi, second hike in less than a week

This is the fourth price hike this month and the 12th since March 7. In all, CNG price has risen by Rs 17.6 per kg in less than six weeks

CNG prices hiked again! Here are the latest prices

In the last one year CNG prices are up over 60% due to high international gas prices

CNG&nbsp;Price Hike Latest News:&nbsp;CNG price increased by Rs 2 per kg in Delhi and NCR.&nbsp;CNG is now priced at Rs 75.61 per kg in Delhi, Rs 78.17 per kg in Noida, while in Gurugram, it will cost Rs 83.94 per kg. This is the second hike in CNG&nbsp;in less that a week. The price of CNG&nbsp;has been adding considerable pressure on budgets.&nbsp;This is the fourth price hike this month and the 12th since March 7. In all, CNG price has risen by Rs 17.6 per kg in less than six weeks. This includes a&nbsp;₹9.50 per kg hike in the last month along.&nbsp;In the last one year, prices have increased by&nbsp;₹30.21 per kg or 60%.&nbsp; Rising CNG&nbsp;prices has led to pressure on auto drivers in the capital region as well and the unions have demanded a fare revision. As per reports a Delhi government committee tasked with fare revision of auto-rickshaws and taxis is likely to recommend a proportionate increase in fares soon.&nbsp;

Please fasten your seat belts and secure all baggage underneath your seat as Jet Airways is set to return to Skies. 
According to reports, Jet Airways has been granted an air operator certificate, said the head of the Directorate General of Civil Aviation (DGCA), Arun Kumar. This allows the airline to resume commercial flight operations.
The airlines was granted the air operator certificate (AOC) after completing two proving flights.
The new owners of Jet, a consortium of Kalrock Capital and middle east-based businessman Murari Lal Jalan had applied for the security clearance on December 13 last year.

Jet Airways gets DGCA nod, ready to soar skies after three years

Please fasten your seat belts and secure all baggage underneath your seat as Jet Airways is set to return to Skies. 

Jet Airways gets DGCA nod, ready to soar skies after three years 

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The airline plans to restart commercial flight operations in July-September quarter this year.
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Please fasten your seat belts&nbsp;and secure all baggage underneath your seat as Jet Airways is set to return to Skies.&nbsp;
According to reports, Jet Airways&nbsp;has been granted an air operator certificate, said the head of the Directorate General of Civil Aviation (DGCA), Arun Kumar. This allows the airline to resume commercial flight operations.
Also read/watch| <a title="RBI's ₹30,000 cr payout to the Govt, lowest in nearly a decade" href="https://www.editorji.com/business-news/economy/rbi-s-rs-30-000-cr-payout-to-the-govt-lowest-in-nearly-a-decade-1653050257756">RBI's ₹30,000 cr payout to the Govt, lowest in nearly a decade</a>
The airlines was granted the air operator certificate (AOC) after completing two proving flights.
The new owners of Jet, a consortium of Kalrock Capital and middle east-based businessman Murari Lal Jalan had applied for the security clearance on December 13 last year.

In a cash boost to the government the Reserve Bank of India (RBI) approved a dividend payment of Rs 30,307 crore to the government for the financial ended March 2022. This figure however is one of the lowest in nearly a decade and much lower than the budget estimates. 
The board approved the transfer of Rs 30,307 crore as surplus to the central government for the accounting year 2021-22 while deciding to maintain the Contingency Risk Buffer at 5.50 per cent, RBI said in a statement.
The decision on the dividend payment was made in the 596th meeting of the Central Board of Directors of RBI, headed by Governor Shaktikanta Das, held on Friday.
Last year in May, RBI declared a dividend of Rs 99,122 crore for the nine-month period (July 2020 to March 2021). The dividend was paid for that period as RBI aligned its financial year with the government's financial year.
Earlier, RBI used to follow July-June period earlier as against government's April-March financial year.
During its meeting, the board reviewed the current economic situation, global and domestic challenges and the impact of recent geopolitical developments.
The board also discussed the working of RBI during the year April 2021 – March 2022 and approved the annual report and accounts for the accounting year 2021-22, the statement said.

RBI's ₹30,000 cr payout to the Govt, lowest in nearly a decade

RBI's Rs 30,000 cr payout to the Govt, lowest in nearly a decade

RBI's dividend kitty shrinks!

The dividend for FY22, which will be transferred in FY23 is much lower than what the government had estimated in Budget 2022.

In a cash boost to the government the&nbsp;Reserve Bank of India (RBI) approved a dividend payment of Rs 30,307 crore to the government for the financial ended March 2022. This figure however is one of the lowest in nearly a decade and much lower than the budget estimates.&nbsp;
The board approved the transfer of Rs 30,307 crore as surplus to the central government for the accounting year 2021-22 while deciding to maintain the Contingency Risk Buffer at 5.50 per cent, RBI said in a statement.
Also read/watch| <a title="Jet Airways gets DGCA nod, ready to soar skies after three years" href="https://www.editorji.com/business-news/jet-airways-gets-dgca-nod-ready-to-soar-skies-after-three-years-1653053582441">Jet Airways gets DGCA nod, ready to soar skies after three years</a>
The decision on the dividend payment was made in the 596th meeting of the Central Board of Directors of RBI, headed by Governor Shaktikanta Das, held on Friday.
Last year in May, RBI declared a dividend of Rs 99,122 crore for the nine-month period (July 2020 to March 2021). The dividend was paid for that period as RBI aligned its financial year with the government's financial year.
Earlier, RBI used to follow July-June period earlier as against government's April-March financial year.
Also read/watch| <a title="Markets at close: Not a week for the weak hearted!" href="https://www.editorji.com/business-news/markets/markets-at-close-sensex-shuts-shop-with-1500-point-gain-nifty-up-over-450-points-in-friday-s-trade-ril-leads-gains-and-tech-recovers-1653041054494">Markets at close: Not a week for the weak hearted!</a>
During its meeting, the board reviewed the current economic situation, global and domestic challenges and the impact of recent geopolitical developments.
The board also discussed the working of RBI during the year April 2021 &ndash; March 2022 and approved the annual report and accounts for the accounting year 2021-22, the statement said.

Twitter is rolling out a crisis misinformation policy to curb false tweets in times of crisis and reduce the spread of viral misleading tweets on the platform."To reduce potential harm, as soon as we have evidence that a claim may be misleading, we won’t amplify or recommend content that is covered by this policy across Twitter – including in the Home timeline, Search, and Explore," explained the company's blog post.To determine whether a tweet is misleading, Twitter will require verification from credible, public sources, including conflict monitoring groups, humanitarian organizations, open source investigators, journalists and more. If the platform finds that the tweet is misleading, it’ll slap a warning notice on the tweet, turn off likes, retweets and shares, and link to more details about the policy. These tweets will also stop surfacing on the home page, search or explore.The new policy follows Elon Musk alerting users on the platform "You are being manipulated by the algorithm in ways you don’t realize," wrote the billionaire on May 14.Musk was referring to the ability to switch to latest tweets on your timeline vs seeing those that have been 'recommended' for you by Twitter's algorithm 

Twitter timeline goes on a cleanse, to hide tweets in crisis 

Twitter goes on a fact cleanse, to hide tweets to curb misleading information

Twitter will start hiding tweets, here is why 

New policy&nbsp;aims to reduce the spread of viral misleading tweets on the platform.

Twitter is rolling out a&nbsp;crisis misinformation policy&nbsp;to curb false tweets in times of crisis and&nbsp;reduce the spread of viral misleading tweets on the platform. "To reduce potential harm, as soon as we have evidence that a claim may be misleading, we won&rsquo;t amplify or recommend content that is covered by this policy across Twitter &ndash; including in the Home timeline, Search, and Explore," explained the company's blog post.
Also read/watch| <a title="'Prepare for the Worst' Silicon Valley kingmaker warns startups" href="https://www.editorji.com/business-news/markets/prepare-for-the-worst-silicon-valley-kingmaker-warns-startups-1653024923004">'Prepare for the Worst' Silicon Valley kingmaker warns startups</a> To determine whether a tweet is misleading, Twitter will require verification from credible, public sources, including conflict monitoring groups, humanitarian organizations, open source investigators, journalists and more. If the platform finds that the tweet is misleading, it&rsquo;ll slap a warning notice on the tweet, turn off likes, retweets and shares, and link to more details about the policy. These tweets will also stop surfacing on the home page, search or explore. Also read/watch| <a title="Watch: 11-year-old becomes CEO of boAt" href="https://www.editorji.com/business-news/watch-11-year-old-becomes-ceo-of-boat-1653040395136">Watch: 11-year-old becomes CEO of boAt</a> The new policy follows Elon&nbsp;Musk alerting users on the platform "You are being manipulated by the algorithm in ways you don&rsquo;t realize,"&nbsp;wrote the billionaire&nbsp;on May 14. Musk was referring to the ability to switch to latest tweets on your timeline&nbsp;vs seeing those that have been 'recommended' for you by Twitter's algorithm.&nbsp;&nbsp;

An 11-year-old visually impaired boy who appeared on the Shark Tank India show was made CEO of Boat by Aman Gupta.

Watch: Prathamesh Sinha, an 11-year-old visually impaired becomes CEO of boAt

Prathamesh has always wanted to grow up to be a motivational speaker, he was brought on-stage at boAt’s Annual Leadership Meet where he shared his story with the whole team and left everyone teary-eyed.

Watch: 11-year-old becomes CEO of boAt

Prathamesh Sinha, an 11-year old visually impaired boy shot to fame with his appearance on Shark Tank India.

An 11-year-old visually impaired boy who appeared on the Shark Tank India show was made CEO&nbsp;of Boat by Aman&nbsp;Gupta for a day.
The boy -- Prathmesh&nbsp;Sinha&nbsp;-- came to the show to pitch a&nbsp;business idea about a gadget that aimed at making the Braille language easier to learn.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/startup-scandal-sequioa-backed-zilingo-fires-ceo-ankiti-bose-after-complaints-of-serious-financial-irregularities-1653029592941">Startup Scandal: Sequoia-backed Zilingo fires CEO Ankiti Bose</a>
Aman Gupta recently invited Prathamesh to the Boat headquarters and made him CEO for a day. As Prathamesh has always wanted to grow up to be a motivational speaker, he was brought on-stage at boAt&rsquo;s Annual Leadership Meet where he shared his story with the whole team and left everyone teary-eyed.
Aman Gupta even arranged for a unique scholarship for Prathamesh. "Our initiative to award him a unique scholarship aims at ensuring that he gets the quality education that he deserves," Boat wrote in its Instagram&nbsp;caption.
Also read/watch |<a href="https://www.editorji.com/business-news/markets/prepare-for-the-worst-silicon-valley-kingmaker-warns-startups-1653024923004">&nbsp;'Prepare for the Worst' Silicon Valley kingmaker warns startups</a>

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