The Modi govt has come out guns blazing to reduce the pressure of prices on the common man with a hat trick of measures ranging from fuel, cooking gas to fertilizer subsidy. Excise duty cut Pulling down record high prices at the fuel pump, the Finance Minister announced a reduction of central excise duty on Petrol by Rs 8 per litre and on diesel by Rs 6 per litre.This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre.LPG cylinder becomes cheaperAs domestic cooking gas cylinder prices topped Rs 1000 all over the country, the govt announced a reduction of Rs 200/cylinder for up to 12 cylinders under the Pradhan Mantri Ujjwala Yojana. This reverses all the price hikes on LPG cylinders since 2021. Since April 2021, prices had risen by Rs 193.5 per cylinder.Fertilizer subsidy boostedFarmers were facing severe pressure as fertilizer prices surged due to the war in Ukraine and had appealed for relief which the govt is delivering with a boost in fertilizer subsidy. The FM tweeted that  in addition to the fertilizer subsidy of ₹ 1.05 lakh crore in the budget, an additional amount of ₹ 1.10 lakh crore is being provided to further cushion the farmers.

Govt's mega attack on inflation: food, fuel, farm big cut in prices 

<div class="elementToProof" style="margin: 0px; padding: 0px; border: 0px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 12pt; line-height: inherit; font-family: Calibri, Arial, Helvetica, sans-serif; vertical-align: baseline; color: #000000; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><span style="margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 12pt; line-height: inherit; font-family: Calibri, Arial, Helvetica, sans-serif; vertical-align: baseline; color: inherit;">With inflation touching multi-year highs, the Narendra Modi government announced a 3-pronged strategy to provide relief to common citizens.</div>

The Modi&nbsp;govt has come out guns blazing to reduce the pressure of prices on the common man with a hat trick of measures ranging from fuel, cooking gas to fertilizer subsidy.&nbsp; <a href="https://www.editorji.com/business-news/economy/petrol-diesel-prices-cut-modi-govt-reduces-excise-duty-as-fuel-costs-reach-historic-highs-1653139305695">Excise duty cut</a> Pulling down record high prices at the fuel pump, the Finance Minister announced a reduction of&nbsp;central excise duty on Petrol by Rs 8 per litre and on diesel by Rs 6 per litre.This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre. LPG&nbsp;cylinder becomes cheaper As domestic cooking gas cylinder prices topped Rs 1000 all over the country, the govt announced a reduction of Rs 200/cylinder for up to 12 cylinders under the&nbsp;Pradhan Mantri Ujjwala Yojana. This reverses all the price hikes on LPG&nbsp;cylinders since 2021.&nbsp;Since April 2021, prices had risen by Rs 193.5 per cylinder. Fertilizer subsidy boosted Farmers were facing severe pressure as fertilizer prices surged due to the war in Ukraine and had appealed for relief which the govt is delivering with a boost in fertilizer subsidy. The FM tweeted that&nbsp; in addition to the fertilizer subsidy of ₹ 1.05 lakh crore in the budget, an additional amount of ₹ 1.10 lakh crore is being provided to further cushion the farmers.

Finance Minister Nirmala Sitharaman also said the government will give Rs 200 per cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year to help ease some of the burden arising from cooking gas rates rising to record levels.
A 14.2-kg LPG cylinder costs Rs 1,003 in the national capital. Pradhan Mantri Ujjwala Yojana beneficiaries, the poor women who got free connections, will get Rs 200 subsidy directly in their bank accounts and the effective price for them would be Rs 803 per 14.2-kg cylinder.
ALSO WATCH | Petrol, diesel prices cut: Modi govt reduces excise duty as fuel costs reach historic highs

₹200 per LPG cylinder subsidy for Ujjwala Yojana beneficiaries announced by Modi govt: watch for details

A 14.2-kg LPG cylinder costs Rs 1,003 in the national capital. Pradhan Mantri Ujjwala Yojana beneficiaries, the poor women who got free connections, will get Rs 200 subsidy directly in their bank accounts and the effective price for them would be Rs 803 per 14.2-kg cylinder.

LPG cylinders made cheaper by Rs 200 by the govt, here are the details

Pradhan Mantri Ujjwala Yojana beneficiaries, the poor women who got free connections, will get Rs 200 subsidy directly in their bank accounts.

Finance Minister Nirmala Sitharaman also said the government will give Rs 200 per cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year to help ease some of the burden arising from cooking gas rates rising to record levels.
A 14.2-kg LPG cylinder costs Rs 1,003 in the national capital. Pradhan Mantri Ujjwala Yojana beneficiaries, the poor women who got free connections, will get Rs 200 subsidy directly in their bank accounts and the effective price for them would be Rs 803 per 14.2-kg cylinder.
ALSO WATCH | <a href="https://www.editorji.com/business-news/economy/petrol-diesel-prices-cut-modi-govt-reduces-excise-duty-as-fuel-costs-reach-historic-highs-1653139305695" target="_blank">Petrol, diesel prices cut: Modi govt reduces excise duty as fuel costs reach historic highs</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.

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;

"ESG is an outrageous scam! Shame on S&P Global," Tesla CEO Elon Musk tweeted as the EV giant out kicked off the S&P500's green and clean ESG index. Here is what happened-:
The S&P Global did it's fourth annual rebalance of the sustainably focused, large-cap index this week and Elon Musk's Tesla - the world's largest EV maker got booted off the index. Tesla the the fifth largest holding in the S&P 500, was deemed ineligible as it found itself out along with Berkshire Hathaway, Johnson & Johnson, and Meta Platforms but oddly making it on the sustainable list is oil major Exxon Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn't make the list. ESG is a scam. It has been weaponised by phony social justice warriors," Musk added.S&P Global's ration was that while Tesla's ESG score has remained fairly stable year-over-year, it was pushed further down the ranks relative to its global industry group peers." So Tesla is green but some of the other manufacturers are getting greener. But casting a shade of grey on the ratings is also Tesla's treatment of worker says the global index creator. 
"A media and stakeholder analysis identified two separate events centered around claims of racial discrimination and poor working conditions at Tesla's Fremont factory, as well as its handling of the NHTSA investigation after multiple deaths and injuries were linked to its autopilot vehicles," S&P Global said.
Those events led to a lower ESG score for Tesla, leading to its elimination from the index.


Explained | Why Tesla is no longer on the US markets 'green and clean' index

Musk loses $12 billion in a single day from his wealth as Tesla stocks sink

"ESG is an outrageous scam! Shame on S&amp;P Global," Tesla CEO Elon Musk tweeted as the EV giant out kicked off the S&amp;P500's green and clean ESG index. Here is what happened-:
The S&amp;P Global did it's fourth annual rebalance of the sustainably focused, large-cap index this week and Elon&nbsp;Musk's Tesla - the world's largest EV maker got booted off the index.&nbsp; Tesla the fifth largest holding in the S&amp;P 500, was deemed&nbsp;ineligible as it found itself out along with&nbsp;Berkshire Hathaway, Johnson &amp; Johnson, and Meta Platforms but oddly making it on the sustainable list is oil major Exxon.&nbsp;
Also read/watch|&nbsp;<a title="Latest stock market scam: This company was selling something that does not exist" href="https://www.editorji.com/business-news/latest-stock-market-scam-this-company-was-selling-something-that-does-not-exist-1652942096992">Latest stock market scam: This company was selling something that does not exist</a> Exxon is rated top ten best in the world for the environment, social &amp; governance (ESG) by S&amp;P 500, while Tesla didn't make the list. ESG is a scam. It has been weaponised by phony social justice warriors," Musk added. S&amp;P Global's ration was that&nbsp;while Tesla's ESG score has remained fairly stable year-over-year, it was pushed further down the ranks relative to its global industry group peers." So Tesla is green but some of the other manufacturers are getting greener.&nbsp; But casting a shade of grey on the ratings is also Tesla's treatment of workers says the global index creator.&nbsp;
Also read/watch|&nbsp;<a title="LPG price hiked again, cylinder rates cross Rs 1,000 all over India" href="https://www.editorji.com/business-news/economy/lpg-price-hiked-again-cylinder-rates-cross-rs-1000-all-over-india-1652929897525">LPG price hiked again, cylinder rates cross Rs 1,000 all over India</a>
"A media and stakeholder analysis identified two separate events centered around claims of racial discrimination and poor working conditions at Tesla's Fremont factory, as well as its handling of the NHTSA investigation after multiple deaths and injuries were linked to its autopilot vehicles," S&amp;P Global said.
Those events led to a lower ESG score for Tesla, leading to its elimination from the index.

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.

Tesla CEO Elon Musk on Tuesday said his deal to buy Twitter can't move forward unless the company shows public proof that less than 5 percent of the accounts on the platform are fake or spam.
Musk made the comment in a reply to another user on Twitter early Tuesday.
In his tweet, Musk said, “20 percent fake/spam accounts, while 4 times what Twitter claims, could be much higher. My offer was based on Twitter's SEC filings being accurate. Yesterday, Twitter's CEO publicly refused to show proof of 5 percent. This deal cannot move forward until he does.”
At a Miami technology conference Monday, Musk estimated that at least 20 percent of Twitter's 229 million accounts are spam bots, a percentage he said was at the low end of his assessment, according to a Bloomberg News report.
Also at the All In Summit, Musk gave the strongest hint yet that he would like to pay less for Twitter than his $44 billion offer made last month. Musk had earlier said a viable deal at a lower price would not be out of the question, according to the report by Bloomberg.
He spent much of the previous day in a back-and-forth with Twitter CEO Parag Agrawal, who posted a series of tweets explaining his company's effort to fight bots and how it has consistently estimated that less than 5 percent of Twitter accounts are fake.

Spam Alert: Elon Musk could drop Twitter buyout plans

Tesla CEO said his deal to buy Twitter can't move forward unless the company shows public proof that less than 5 percent of the accounts on the platform are fake or spam.

Elon Musk could cancel Twitter deal

Also at the All In Summit, Musk gave the strongest hint yet that he would like to pay less for Twitter than his $44 billion offer made last month.

Tesla CEO Elon Musk on Tuesday said his deal to buy Twitter can't move forward unless the company shows public proof that less than 5 percent of the accounts on the platform are fake or spam.
Musk made the comment in a reply to another user on Twitter early Tuesday.
Also read/watch |<a href="https://www.editorji.com/business-news/bots-or-bills-what-is-really-giving-musk-second-thoughts-about-twitter-1652856259014" target="_blank">&nbsp;Bots or Bills, what is really giving Musk second thoughts about Twitter</a>
In his tweet, Musk said, &ldquo;20 percent fake/spam accounts, while 4 times what Twitter claims, could be much higher. My offer was based on Twitter's SEC filings being accurate. Yesterday, Twitter's CEO publicly refused to show proof of 5 percent. This deal cannot move forward until he does.&rdquo;
At a Miami technology conference Monday, Musk estimated that at least 20 percent of Twitter's 229 million accounts are spam bots, a percentage he said was at the low end of his assessment, according to a Bloomberg News report.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/markets/lic-ipo-muted-debut-here-is-what-macquarie-makes-of-the-stock-1652770062417">LIC IPO Muted Debut: Here is what Macquarie makes of the stock</a>
Also at the All In Summit, Musk gave the strongest hint yet that he would like to pay less for Twitter than his $44 billion offer made last month.&nbsp;Musk had earlier said a viable deal at a lower price would not be out of the question, according to the report by Bloomberg.
He spent much of the previous day in a back-and-forth with Twitter CEO Parag Agrawal, who posted a series of tweets explaining his company's effort to fight bots and how it has consistently estimated that less than 5 percent of Twitter accounts are fake.

Zimbabwe issued a one hundred trillion dollars—100,000,000,000,000— currency bill in 2009 which is the largest denomination of currency ever issued.
The History
When Zimbabwe attained independence in 1980, Z$2, Z$5, Z$10 and Z$20 denominations circulated, replaced three decades later by bills in the thousands and ultimately in the millions and trillions as the government sought to prop up a weakening economy amid spiraling inflation.
Shortly after the Z$100 trillion note began circulating, the Zimbabwean dollar was officially abandoned in favor of foreign currencies. From 2007 to 2008, the local legal tender lost more than 99.9 percent of its value. This marked a reversal of fortune from independence, when the value of one Zimbabwe dollar equaled US$1.54. Zimbabwe’s extreme and uncontrollable inflation made it the first—and so far only—country in the 21st century to experience a hyperinflationary episode.
Zimbabwe, once considered the breadbasket of Africa, was reduced to the continent’s beggar within a few years; its citizens were pushed into poverty and often forced to emigrate.
What is hyperinflation?
Hyperinflation is defined as beginning when monthly inflation rates initially exceed 50 percent. It ends in the month before the rate declines below 50 percent, where it must remain for at least a year. Zimbabwe entered the hyperinflationary era in March 2007; the period ended when the nation abandoned its currency in 2009.
Shocking inflation
In 2008, Zimbabwe had the second-highest incidence of hyperinflation on record. The estimated inflation rate for Nov 2008 was 79,600,000,000 percent. That is effectively a daily inflation rate of 98 percent. Roughly every day, prices would double. It was also a time of real hardship and poverty, with an unemployment rate of close to 80 percent and a virtual breakdown in normal economic activity. 
What's going on now?
Zimbabwe's inflation has started to rise again, with year-on-year inflation at 96% in April, up from 61% at the beginning of the year, mainly due to a rapidly weakening local currency. In a latest move, Zimbabwe froze bank lending in a temporary measure that is meant to contain inflation and stabilise its economy.
Causes of hyperinflation in Zimbabwe

Government printing money in response to:High national debt
Decline in economic output
Decline in export earnings
Price controls that exacerbate shortages
Lack of confidence in government, economy and political life


Zimbabwe: From Africa's breadbasket to continent’s beggar

Shocking Inflation: This country went from breadbasket to beggar

Shocking Inflation: This country went from breadbasket to beggar.

Zimbabwe, once considered the breadbasket of Africa, was reduced to the continent&rsquo;s beggar within a few years; its citizens were pushed into poverty and often forced to emigrate.

Zimbabwe's inflation has started to rise again, with year-on-year inflation at 96 percent in April, up from 61 percent at the beginning of the year, mainly due to a rapidly weakening local currency. In a latest move,&nbsp;Zimbabwe froze&nbsp;bank lending in a temporary measure that is meant to contain inflation and stabilise its economy.
Zimbabwe issued a one hundred trillion dollars&mdash;100,000,000,000,000&mdash; currency bill in 2009 which is the largest denomination of currency ever issued.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/bots-or-bills-what-is-really-giving-musk-second-thoughts-about-twitter-1652856259014" target="_blank">Bots or Bills, what is really giving Musk second thoughts about Twitter</a>
Shocking inflation
In 2008, Zimbabwe had the second-highest incidence of hyperinflation on record. The estimated inflation rate for Nov 2008 was&nbsp;79,600,000,000 percent.&nbsp;That is effectively a daily inflation rate of 98 percent. Roughly every day, prices would double. It was also a time of real hardship and poverty, with an unemployment rate of close to 80 percent and a virtual breakdown in normal economic activity.&nbsp;
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">Russians queue up at McDonald's outlets as it exits the country</a>
The History
When Zimbabwe attained independence in 1980, Z$2, Z$5, Z$10 and Z$20 denominations circulated, replaced three decades later by bills in the thousands and ultimately in the millions and trillions as the government sought to prop up a weakening economy amid spiraling inflation.
Shortly after the Z$100 trillion note began circulating, the Zimbabwean dollar was officially abandoned in favor of foreign currencies. From 2007 to 2008, the local legal tender lost more than 99.9 percent of its value. This marked a reversal of fortune from independence, when the value of one Zimbabwe dollar equaled US$1.54. Zimbabwe&rsquo;s extreme and uncontrollable inflation made it the first&mdash;and so far only&mdash;country in the 21st century to experience a hyperinflationary episode.
Zimbabwe, once considered the breadbasket of Africa, was reduced to the continent&rsquo;s beggar within a few years; its citizens were pushed into poverty and often forced to emigrate.
What is hyperinflation?
Hyperinflation is defined as beginning when monthly inflation rates initially exceed 50 percent. It ends in the month before the rate declines below 50 percent, where it must remain for at least a year. Zimbabwe entered the hyperinflationary era in March 2007; the period ended when the nation abandoned its currency in 2009.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/biotmeric-payments-are-here-mastercard-will-soon-let-you-pay-with-your-face-1652843304815" target="_blank">Biometric payments are here! Mastercard will soon let you pay with your face</a>
Causes of hyperinflation&nbsp;in Zimbabwe
<ul>
<li>Government printing money in response to:High national debt</li>
<li>Decline in economic output</li>
<li>Decline in export earnings</li>
<li>Price controls that exacerbate shortages</li>
<li>Lack of confidence in government, economy and political life</li>
</ul>

The pandemic may be over but a different wave of panic is sweeping across the US companies - layoffs. The pandemic boomer companies are now re-evaluating growth and the picture is not pretty and as demand slows. Here is who is firing! Netflix: After losing subscribers, the OTT platform is reshooting its business plans. Reports indicate the streaming giant has laid off employees from it's editorial arm Tudum a platform dedicated to going “behind the streams,” publishing articles about the content that is currently or will be on Netflix. Pelton:One of the big beneficiary of the work-from-home trend, this fitness and equipment maker has let go of nearly 2800 employees in this year and it may not be the end. The stock value has plummted from a marketcap of $50 bn to merely $8 bn as WFH ends across US and utility for home gyms disappears. Noom: This weight loss app is now stretched thin as it laid off nearly 500 employees including hundreds of coaches to cut cost as post pandemic business slowed. Some coaches told Business Insider they were responsible for giving advice to hundreds of users at any given time.Robinhood: The popular trading platform that shot to fame with Gamestop is now facing a new market and has punched in layoff orders. The company has laid off nearly 10% of full time workforce. 
Thrasio: Everyone wanted to copy the Thrasio model at one point of beingthe acquirer of popular brands on Amazon. This "hypergrowth" in acquiring companies is now leading to layoffs. Reports indicate the company is letting of 20% of it's workforce. Even if there is firing, most companies are not hiring anymore. In a rare and concerning move Facebook parent Meta is instituting a hiring freeze — a move that comes as Mark Zuckerberg’s embattled social media giant warns of slowing revenue growth.So the big question that everyone is asking - is the tech bubble bursting again?

Mass layoffs at American companies: Here is who is firing

US companies laying off employees as business growth is slowing, while labor costs are increasing.&nbsp;

The pandemic may be over but a different wave of panic is sweeping across the US companies - layoffs. The pandemic boomer companies are now re-evaluating&nbsp;growth and the picture is not pretty and as demand slows. Here is who is firing!&nbsp; Netflix: After losing subscribers, the OTT&nbsp;platform is reshooting&nbsp;its business plans. Reports indicate the streaming giant has laid off employees from its editorial arm&nbsp;Tudum&nbsp;a platform&nbsp;dedicated to going &ldquo;behind the streams,&rdquo; publishing articles about the content that is currently or will be on Netflix.&nbsp; Pelton:&nbsp;One of the big beneficiaries of the work-from-home trend, this fitness and equipment maker has let go of nearly 2800 employees this year and it may not be the end. The stock value has plummeted from a market cap&nbsp;of $50 bn to merely $8 bn as WFH&nbsp;ends across US and utility for home gyms disappears.&nbsp;
Also read/watch|<a title="&nbsp;Startups Shrink: From unicorns to layoffs, the firing squad is here" href="https://www.editorji.com/business-news/startups-shrink-from-unicorns-to-layoffs-the-firing-squad-is-here-1652263415790">&nbsp;Startups Shrink: From unicorns to layoffs, the firing squad is here</a> Noom: This weight loss app is now stretched thin as it laid off nearly 500 employees including hundreds of coaches to cut costs as post-pandemic business slowed. Some coaches told Business Insider&nbsp;they were responsible for giving advice to hundreds of users at any given time. Robinhood: The popular trading platform that shot to fame with Gamestop&nbsp;is now facing a new market and has punched in layoff orders. The company has laid off nearly 10% of the full-time workforce.&nbsp;
Thrasio: Everyone wanted to copy the Thrasio&nbsp;model at one point of being the&nbsp;acquirer of popular brands on&nbsp;Amazon. This&nbsp;"hypergrowth" in acquiring companies is now leading to layoffs. Reports indicate the company is letting of 20% of it's workforce.&nbsp;
Also read/watch|&nbsp;<a title="Crypto markets scripting a scary story; coins down 99%, billionaires lose 90% wealth" href="https://www.editorji.com/business-news/markets/crypto-markets-scripting-a-scary-story-coins-down-99-billionaires-lose-90-wealth-1652337306286">Crypto markets scripting a scary story; coins down 99%, billionaires lose 90% wealth</a> Even if there is a firing, most companies are not hiring anymore. In a rare and concerning move,&nbsp;Facebook parent Meta is instituting a hiring freeze &mdash; a move that comes as Mark Zuckerberg&rsquo;s embattled social media giant&nbsp;warns of slowing revenue growth. So the big question that everyone is asking is - is the tech bubble bursting again?

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In his address to the parliament on the first day of the budget session, President Kovind seemed to lay the ground for a greater thrust on direct benefit transfers. He also alluded to successes garnered by the Insolvency and Bankruptcy Code and GST. 

In his address to the parliament on the first day of the budget session, President Kovind seemed to lay the ground for a greater thrust on direct benefit transfers. He also alluded to successes garnered by the Insolvency and Bankruptcy Code and GST. 

RBI has a backer in the European Central Bank President when it comes to their stand against crypto. ECB President Christine Lagarde said said crypto-currencies are “based on nothing” as she renewed her call for regulation."I have said all along the crypto assets are highly speculative, very risky assets," Lagarde told Dutch television show College Tour. “My very humble assessment is that it is worth nothing. It is based on nothing, there is no underlying asset to act as an anchor of safety.”As trillions of investments have gotten wiped out from the crypto collapse, Lagarde warned that many have no understanding of the risks, and will lose it all and  pressed strongly for strict regulations. Tether, the multibillion dollar “stablecoin” that functions as the largest bank in the cryptocurrency economy, has paid out $10bn  in withdrawals since the crypto crash started in early May as most digital tokens have halved in value from their recent bull run. 

Crypto is worth nothing! Europe's central bank chief warns 

Crypto is worth nothing! Europe's central bank chief seeks strict regulation

Crypto is worth nothing! 

Tether, the multibillion dollar &ldquo;stablecoin&rdquo; has paid out $10bn&nbsp; in withdrawals since the crypto crash started in early May

RBI&nbsp;has a backer in the European Central Bank President when it comes to their stand against crypto. ECB&nbsp;President&nbsp;Christine Lagarde said&nbsp;crypto-currencies are &ldquo;based on nothing&rdquo; as she renewed her call for regulation. "I have said all along the crypto assets are highly speculative, very risky assets," Lagarde told the Dutch television show College Tour. &ldquo;My very humble assessment is that it is worth nothing. It is based on nothing, there is no underlying asset to act as an anchor of safety.&rdquo;
Also read/watch| <a title="PM Modi in Japan: Meets heads of Softbank, Suzuki, Uniqlo&nbsp;" href="https://www.editorji.com/business-news/pm-modi-in-japan-meets-heads-of-softbank-suzuki-uniqlo-1653297656956">PM Modi in Japan: Meets heads of Softbank, Suzuki, Uniqlo&nbsp;</a> As trillions of investments have gotten wiped out from the crypto&nbsp;collapse,&nbsp;Lagarde&nbsp;warned that many have no understanding of the risks, and will lose it all and pressed strongly for strict regulations.&nbsp; Tether, the multibillion-dollar&nbsp;&ldquo;stablecoin&rdquo; that functions as the largest bank in the cryptocurrency economy, has paid out $10bn in withdrawals since the crypto crash started in early May as most digital tokens have halved in value from their recent bull run.&nbsp;

Prime Minister Narendra Modi held one-on-one meetings with heads of prominent Japanese companies such as UNIQLO, Suzuki Motor, NEC and Softbank in Tokyo on the sidelines of the Quad Summit. 
In a release issued by the govt they stated that the Prime Minister appreciated Softbank’s role in India’s startup sector. They discussed Softbank’s future participation in India in key areas such as technology, energy and finance. As per the statment Specific proposals were shared with Softbank where it could enhance its investments in India. Softbank claims to be India's largest foreign investors having invested in nearly 10% if startups in the subcontinent. Celebrating a partnership and investment into India for 4 decades the PM also met with Suzuki's patriarch Osamu Suzuki. The MEA tweeted that the meeting focused around diverse opportunities in India, the strong India-Japan economic partnership .
From old partners to new entrants, The CEO of clothing brand Uniqlo Tadashi Yanai also had audience with the Indian PM who as per a release by the govt was invited to take part in the PM-Mitra scheme. 
Overall, Tokyo is the 5th largest investor in the Indian economy, providing a cumulative FDI of over $42 billion. 

PM Modi in Japan: Meets heads of Softbank, Suzuki, Uniqlo 

Prime Minister Narendra Modi held one-on-one meetings with heads of prominent Japanese companies such as UNIQLO, Suzuki Motor, NEC and Softbank in Tokyo on the sidelines of the Quad Summit. 

Tokyo is the 5th largest investor in the Indian economy, providing a cumulative FDI&nbsp;of over $42 billion.&nbsp;

Prime Minister Narendra Modi&nbsp;held&nbsp;one-on-one meetings with heads of prominent Japanese companies such as UNIQLO, Suzuki Motor, NEC and Softbank&nbsp;in Tokyo on the sidelines of the Quad Summit.&nbsp;
Also read/watch| <a title="FIRST LOOK at Rakesh Jhunjhunwala's Akasa Air" href="https://www.editorji.com/business-news/first-look-at-rakesh-jhunjhunwala-s-akasa-air-1653289112679">FIRST LOOK at Rakesh Jhunjhunwala's Akasa Air</a>
In a release issued by the govt they stated that the Prime Minister appreciated Softbank&rsquo;s role in India&rsquo;s startup sector. They discussed Softbank&rsquo;s future participation in India in key areas such as technology, energy and finance. As per the statment Specific proposals were shared with Softbank where it could enhance its investments in India. Softbank&nbsp;claims to be India's largest foreign investors having invested in nearly 10% if startups in the subcontinent.&nbsp; Celebrating a partnership and investment into India for 4 decades the PM also met with Suzuki's patriarch Osamu&nbsp;Suzuki. The MEA&nbsp;tweeted that the meeting focused around&nbsp;diverse opportunities in India, the strong India-Japan economic partnership.
Also read/watch| <a title="1 new billionaire every 30 hours! Shocking report highlights crisis profiteering" href="https://www.editorji.com/business-news/1-new-billionaire-every-30-hours-shocking-report-highlights-crisis-profiteering-1653279274752">1 new billionaire every 30 hours! Shocking report highlights crisis profiteering</a>
From old partners to new entrants, The CEO&nbsp;of clothing brand Uniqlo&nbsp;Tadashi Yanai also had audience with the Indian PM who as per a release by the govt was invited to&nbsp;take part in the PM-Mitra scheme.&nbsp;
Overall, Tokyo is the 5th largest investor in the Indian economy, providing a cumulative FDI&nbsp;of over $42 billion.&nbsp;

Ready to take to the skies Rakesh Jhunjhunwala backed Akasa Air revealed its look for the first time on social media as it tweeted a picture of the orange and purple aircraft in the hangar. Akasa Air tweeted along with the picture “Can’t keep calm! Say hi to our QP-pie!" The QP is the code allocated to the airline that is set to takeoff in July as per reports.We expect our first aircraft delivery by early June 2022, with the intention to start commercial operations in July 2022," Vinay Dube, CEO, Akasa Air, told PTI.A 72 plane plan with Boeing for the 737 MAX has been signed by the aircraft, first delivery of which is by June. Akasa Air's launch will be followed by erstwhile airline giant Jet Airways as well taking to the runaway once again by September. 

FIRST LOOK at Rakesh Jhunjhunwala's Akasa Air

Akasa&nbsp;Air got&nbsp;nod in August 2021 to launch commercial flight operations

Ready to take to the skies Rakesh&nbsp;Jhunjhunwala&nbsp;backed Akasa&nbsp;Air revealed its look for the first time on social media as it tweeted a picture of the orange and purple aircraft in the hangar.&nbsp; Akasa Air tweeted along with the picture&nbsp;&ldquo;Can&rsquo;t keep calm! Say hi to our QP-pie!" The QP is the code allocated to the airline that is set to takeoff in July as per reports.
Also read/watch| <a title="1 new billionaire every 30 hours! Shocking report highlights crisis profiteering" href="https://www.editorji.com/business-news/1-new-billionaire-every-30-hours-shocking-report-highlights-crisis-profiteering-1653279274752">1 new billionaire every 30 hours! Shocking report highlights crisis profiteering</a> We expect our first aircraft delivery by early June 2022, with the intention to start commercial operations in July 2022," Vinay Dube, CEO, Akasa Air, told PTI. A 72 plane plan with Boeing for the 737 MAX has been signed by the aircraft, first delivery of which is by June. Akasa&nbsp;Air's launch will be followed by erstwhile airline giant Jet Airways as well taking to the runaway once again by September.&nbsp;

A shocking report by Oxfam showed that a billionaire was created every 30 hours during the last 2 years and a million people fell into poverty at the same rate during the pandemic. Presenting the report as the world's elite gathered at Davos, Oxfam showcased 2,668 billionaires -- 573 more than in 2020 -- own $12.7 trillion, an increase of $3.78 tn. Data also revealed that the world's ten richest men own more wealth than the bottom 40 per cent of humanity or 3.1 billion people. In fact the richest 20 billionaires are worth more than the entire GDP of Sub-Saharan Africa.The development charity highlighting crisis profiteering said spiralling global food prices had helped create “62 new food billionaires” in just 24 months.
Oxfam also called for the introduction of permanent wealth taxes to “rein in extreme wealth and monopoly power”. The report urged governments should follow Argentina’s example and introduce a “one-off solidarity tax on billionaires’ pandemic windfalls”. The Argentinian tax raised 223bn pesos ($1.8 bn) last year.

1 new billionaire every 30 hours! Shocking Oxfam report highlights crisis profiteering

1 new billionaire every 30 hours! Shocking report highlights crisis profiteering

263 million people could be pushed into extreme levels of poverty in 2022 because of the pandemic

A shocking report by Oxfam&nbsp;showed that a billionaire was created every 30 hours during the last 2 years and a million people fell into poverty at the same rate during the pandemic.&nbsp; Presenting the report as the world's elite gathered at Davos, Oxfam&nbsp;showcased 2,668 billionaires -- 573 more than in 2020 -- own $12.7 trillion, an increase of $3.78 tn.
 Also read/watch|&nbsp;<a title="PM Modi arrives in Japan for two-day Quad summit. Here's what's on the agenda" href="https://www.editorji.com/india-news/pm-modi-arrives-in-japan-for-two-day-quad-summit-here-s-what-s-on-the-agenda-1653279147225">PM Modi arrives in Japan for two-day Quad summit. Here's what's on the agenda</a> Data also revealed that&nbsp;the world's ten richest men own more wealth than the bottom 40 per cent of humanity or 3.1 billion people. In fact the richest 20 billionaires are worth more than the entire GDP of Sub-Saharan Africa. The development charity highlighting crisis profiteering&nbsp;said spiralling global food prices had helped create &ldquo;62 new food billionaires&rdquo; in just 24 months.
Also read/watch|&nbsp;<a title="Petrol, diesel prices: 3 states reduce VAT after Modi govt's excise cut - Maharashtra, Rajasthan, Kerala" href="https://www.editorji.com/india-news/local/petrol-diesel-prices-3-states-reduce-vat-after-modi-govt-s-excise-cut-maharashtra-rajasthan-kerala-1653235911678">Petrol, diesel prices: 3 states reduce VAT after Modi govt's excise cut - Maharashtra, Rajasthan, Kerala</a>
Oxfam also called for the introduction of permanent wealth taxes to &ldquo;rein in extreme wealth and monopoly power&rdquo;. The report urged governments should follow Argentina&rsquo;s example and introduce a &ldquo;one-off solidarity tax on billionaires&rsquo; pandemic windfalls&rdquo;. The Argentinian tax raised 223bn pesos ($1.8 bn) last year.

Following the Union government's decision to provide relief from high petrol and diesel prices, some Opposition-ruled states have followed suit.
Rajasthan, Maharashtra, and Kerala announced a cut in Value Added Tax, or VAT on fuel after the Narendra Modi administration's decision to reduce excise duty on petrol and diesel.
The Shiv Sena-NCP-Congress coalition government in Maharashtra reduced VAT by Rs 2.08 per litre on petrol, and Rs 1.44 per litre on diesel.
The Congress government in Rajasthan announced slashing of VAT by Rs 2.48 per litre on petrol, and Rs 1.16 per litre on diesel.
Meanwhile, the Left government in Kerala had announced a price cut just hours after the Union government's declaration on May 21. Kerala reduced tax by Rs 2.41 per litre on petrol, and Rs 1.36 per litre on diesel.
Union finance minister Nirmala Sitharaman had put the onus on states after announcing the excise duty relief. The move came as retail inflation hit an 8-year high in India.

Petrol, diesel prices: 3 states reduce VAT after Modi govt's excise cut - Maharashtra, Rajasthan, Kerala

Petrol, diesel prices: Rajasthan, Maharashtra, and Kerala announced a cut in Value Added Tax, or VAT on fuel after the Narendra Modi administration's decision to reduce excise duty.

Following the Union government's decision to provide relief from high petrol and diesel prices, some Opposition-ruled states have followed suit.
Rajasthan, Maharashtra, and Kerala announced a cut in Value Added Tax, or VAT on fuel after the Narendra Modi administration's decision to reduce excise duty on petrol and diesel.
The Shiv Sena-NCP-Congress coalition government in Maharashtra reduced VAT by Rs 2.08 per litre on petrol, and Rs 1.44 per litre on diesel.
The Congress government in Rajasthan announced slashing of VAT by Rs 2.48 per litre on petrol, and Rs 1.16 per litre on diesel.
Meanwhile, the Left government in Kerala had announced a price cut just hours after the Union government's declaration on May 21. Kerala reduced tax by Rs 2.41 per litre on petrol, and Rs 1.36 per litre on diesel.
Union finance minister Nirmala Sitharaman had put the onus on states after announcing the excise duty relief. The move came as retail inflation hit an 8-year high in India.

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