5 Minutes Read

Crime novelist Liz Nugent: ‘I’m never interested in the whodunnit, I’m more interested in why’

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

An exclusive interview with the award-winning author of the international bestseller Strange Sally Diamond on writing about abuse, the perils and perks of being a novelist in the age of social media, and more.

Dark psychological thrillers that explore childhood trauma and human depravity are not easy to write or read. And yet, Irish novelist Liz Nugent has carved an enviable career out of making domestic noir and sinister fiction accessible to readers around the world.

The winner of four Irish Book Awards and the James Joyce Medal for Literature, all her five psych thrillers—Unravelling Oliver (2014), Lying in Wait (2016), Skin Deep (2018), Little Cruelties (2020), and most recently, Strange Sally Diamond—have been chart-topping bestsellers.

Her latest book Strange Sally Diamond is inspired by the high-profile Josef Fritzl abuse case. A classic character study, it paints an unsettling portrait of why certain people behave the way they do and the extent of debilitating damage that exposure to early abuse can wreak on humans. A layered commentary on nature vs nurture, it will remind you of Emma Donoghue’s seminal 2010 novel Room.

In this exclusive interview, Nugent discusses the recent brain surgery that she underwent for her dystonia, why she thinks first novels are the easiest to write, her decision to tell the story of Strange Sally Diamond through two narrators, her distaste for shopping malls, why she prefers meeting friends over breakfast, and more.

How are you doing now after your minor brain surgery that was slated for December last year?

I have seen no improvement so far since my DBS operation, but my neurologist told me it could take six months to a year before I see a change and there is a chance it may not work at all. I choose to be optimistic.

How much does your background in film, theatre, and television help or inform your novel writing?

I would love for readers to visualize the chapters and characters in my books as scenes and real people, so I try to create as much visual incident as possible. I also try to carefully describe the surroundings of the locations so that readers can guess what a small rural Irish village or a town in New Zealand looks like. Also, I want to make it easy in case Hollywood, or indeed Bollywood, comes knocking.

Of your five books, which has been the most difficult and why?

Each one is harder than the one before because you think you’ve used up all your ideas, and I usually have to wait a long time for the well to refill. In some ways, the first is the easiest because you are not yet defined by a genre, and you are not working to a deadline. I nearly gave up on Sally Diamond so many times.

What is it that you desire more—popularity or critical acclaim?

Both are nice, and I’ve been lucky enough to have been well-reviewed and a number-one bestseller for each of my books. But if I had to choose, it would be popularity. I really love that so many people read my books. I write for them.

How much of Sally Diamond is autobiographical?

Very little, although Sally sometimes says things that I think. E.g. Why buy flowers for a funeral? The intended recipient is dead and it’s not like you can arrange to have funeral wreaths around your home. And like Sally, I am not a fan of giant shopping malls. The noise, the crowds, the brightness, and the unnecessary music are all too much for me.

Why was it important to have two narrators?

Sally does not remember any of her early childhood, so it was important to create Peter because he knows exactly what Sally’s childhood was like although he was too young and too brainwashed to understand the horror of it. Once I started to write Sally and Peter in two different timelines, I knew they were on a collision course to meet up. I didn’t know what would happen when they did meet until I got to that point.

It’s not easy to write about abuse. Did you have any rules or checks to ensure it doesn’t get too graphic or dark?

There are no graphic depictions of child abuse in the book. That is all implied. If I wouldn’t want to read that kind of thing, I certainly wouldn’t want to write it. The story is only as dark as the reader’s imagination. I also use humor a lot, so when things begin to feel heavy, I can lighten it up with some comic scenes.

What’s about the genre of psychological thriller that fascinates you?

I’m never interested in the whodunnit, I’m more interested in why. The choice that Peter makes at the end of the book is so wrong, but when we know how he has been raised, we might begin to understand it, even if we don’t condone it for a second.

What, according to you, is the biggest challenge of being a novelist today?

Social media is so distracting. Without it, I’m sure I would be much more productive. The benefit of it is that I can talk directly to readers. But sometimes, I’ll just drop in to check something, and two hours later, I’ll emerge fuzzy-headed, having wasted all that time when I should have been writing.

How has your writing process changed over the years?

I have learned a lot through the editing process and from reader’s feedback. Right now, they like relatively short books and short chapters (again, I blame social media for this). This trend may change.

I am still very undisciplined. If I have to meet somebody for lunch, then there will be no writing done that day. I am trying to convince friends to meet for breakfast so that I can still get a day’s writing done. That also means no wine which is a bonus.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Contamination and regulation gaps in Indian household products

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Experts point out that one needs to be aware of incidents of contamination of Indian household products. Earlier reports have highlighted everyday items like bread and sanitary pads containing harmful chemicals.

A series of concerning incidents involving commonly used FMCG household products have recently emerged in India. These include Cadbury’s Bournvita losing its ‘health drink’ designation and an inquiry initiated by the FSSAI into reports of high sugar levels in Nestle’s baby food. Furthermore, Singapore and Hong Kong have taken action against the sale of Indian spice brands MDH and Everest.

The baby product issue revolves around the permissible sugar content and adherence to Indian guidelines. Nestle asserts its Indian-manufactured products comply fully with international and local standards, including sugar levels.

Spice contamination: Ethylene Oxide allegations

More concerning, experts suggest, is the prohibition on MDH and Everest in Singapore and Hong Kong, due to allegations of the carcinogenic pesticide ethylene oxide found in several spice mixes. For instance, Hong Kong’s food regulator, The Centre For Food Safety, detected ethylene oxide in three MDH spice mixes. Singapore’s Food Agency ordered a recall of Everest’s ‘Everest fish curry masala’ for the same reason.

These companies have faced regulatory actions before. In 2023, the US FDA recalled Everest’s Sambhar and Garam Masala for salmonella, and in 2019, MDH’s Sambhar Masala faced a similar recall.

What is Ethylene oxide?

Ethylene oxide, classified as a known human carcinogen, is used in small amounts as a pesticide and sterilising agent in some countries. It’s banned as a fumigant and pesticide in the EU since 1991. The US has indicated certain pesticides will contain the substance.

Singapore has indicated ethylene oxide is a pesticide that is not authorised for use in food, it is however allowed to be used in the sterilisation of spices. Hong Kong regulations prohibit the sale of food containing pesticide residues exceeding safe limits.

While the cause of exceeding pesticide limits must be investigated, the FSSAI plans to test samples from all brands, as ethylene oxide isn’t permitted in Indian food products.

Experts point out that one needs to be aware of the incidents of contamination of Indian household products. Earlier reports have highlighted everyday items like bread and sanitary pads containing harmful chemicals. Big brands such as Nestle have also faced the heat when their brand Maggi was banned due to allegations of unacceptable amounts of lead and other components.

Reports of Patanjali’s ghee failing safety tests and recent allegations of Dabur’s honey being contaminated also surfaced. It is important to note companies have refuted and these denied allegations.

Factors contributing to contamination

So, the key question is how do these cancer-causing substances, heavy metals make their way onto our houses and everyday lives?

Experts say the reason for harmful substances making their way into consumer products is due to factors such as the assumption that safety checks are in place by companies and especially due to the lack of laws or regulations on what the products contain and whether certain ingredients in the products are even in the permissible limits.

Also, many times chemicals and cancer-causing substances are not intentionally added but can form during preparation and processing.

When it comes to India, experts point out that interestingly some of the products which have now been discontinued in other major markets such as the US due to contamination concerns continue to be sold in the country. Experts say India lacks strong consumer activism and a legal framework which is a driving force of these litigations in countries such as the US.

Lastly, the need of the hour experts point out is for increased regulation on consumer products this ranges from regular company-level testing, standardisation of consumer goods by a regulated body and strong and continuous vigilance from government bodies.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Spice brands MDH and Everest Group under scrutiny: What is ethylene oxide and how harmful is it?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The concerns raised by experts serve as a stark reminder of the importance of stringent food safety regulations to safeguard public health. As investigations unfold and regulatory measures are implemented, consumers are urged to exercise caution, particularly those in high-risk groups.

In response to Hong Kong’s recent ban on certain products from popular Indian spice brands MDH and Everest Group due to alleged contamination with a cancer-causing pesticide, India’s food safety regulator is gearing up for quality checks. The ban has raised significant alarm, prompting officials to take swift action to ensure the safety of consumers.

Speaking on condition of anonymity, a senior Indian official revealed that inspections would be conducted to test for the presence of ethylene oxide, a harmful pesticide deemed unfit for human consumption. This move comes in the wake of mounting concerns over the potential health risks posed by contaminated spice products.

Suparna Mukherjee, Charge of Clinical Nutrition, Narayana Health City, Bangalore, expressed deep concern over the findings. She highlighted the toxicity of ethylene oxide, emphasizing its classification as a top-level carcinogen by the International Agency for Research on Cancer (IARC). Mukherjee underscored the heightened risk of cancer associated with prolonged exposure to ethylene oxide through contaminated food products, particularly among vulnerable populations such as children, pregnant women, and the elderly.

Dr. Priyanshu Choudhary, Consultant Medical Oncology, Ivy Hospital Mohali, reiterated the gravity of the situation. He emphasized that ethylene oxide has been classified as a known human carcinogen by both the IARC and the United States Environmental Protection Agency (USEPA). Choudhary highlighted the types of cancers most commonly associated with ethylene oxide exposure, including lymphoma, leukemia, and breast cancer, often stemming from occupational hazards or product sterilization processes.

The concerns raised by experts serve as a stark reminder of the importance of stringent food safety regulations to safeguard public health. As investigations unfold and regulatory measures are implemented, consumers are urged to exercise caution, particularly those in high-risk groups. The need for vigilance in monitoring food safety standards is paramount to prevent potential health hazards associated with the consumption of contaminated products.

In light of these developments, it is imperative for authorities to take proactive steps to address the issue and ensure the integrity of the food supply chain. Only through collective efforts can we mitigate the risks posed by harmful contaminants and uphold the well-being of consumers.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Vishwambara Unveiled: 54-foot Hanuman statue steals the spotlight

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Megastar Chiranjeevi is currently working on “Vishwambara,” a socio-fantasy film helmed by the acclaimed director Vashishta, known for his work on “Bimbisara.” The film’s production is moving at an accelerated pace and according to reports on social media the filmmakers have wrapped up shooting for an intense action sequence in a sprawling set within a …

Megastar Chiranjeevi is currently working on “Vishwambara,” a socio-fantasy film helmed by the acclaimed director Vashishta, known for his work on “Bimbisara.” The film’s production is moving at an accelerated pace and according to reports on social media the filmmakers have wrapped up shooting for an intense action sequence in a sprawling set within a single schedule.

The pivotal fight scenes slated for the movie’s intermission were meticulously captured over a 26-day span. A realm of fantasy comes to life through groundbreaking VFX, with a monumental 54-foot statue of Lord Hanuman erected for the action-packed sequences, expertly choreographed by the renowned duo Ram-Lakshman.

Images of Chiranjeevi alongside the imposing Hanuman statue have recently gone viral on social media, teasing a special interval segment that promises to captivate audiences.

“Vishwambara,” is set to release worldwide on January 10, 2025, coinciding with the auspicious Sankranthi festival. The film has generated considerable buzz within the film fraternity, marking Chiranjeevi’s reunion with South Indian actress Trisha after an 18-year hiatus.

With MM Keeravani’s enchanting compositions captivating not only fans but also cinephiles, and with visual effects taking precedence in this monumental Rs. 200 crore-budget production, “Vishwambara” stands as a cinematic spectacle.

According to insiders from Tollywood, this film is poised to become the most expensive venture in Chiranjeevi’s four-decade-long career. Additionally, Trisha is rumoured to portray a dual role, while young talents Surbhi and Isha Chawla are set to play pivotal characters, adding further intrigue to the star-studded ensemble.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Greater Noida societies face fines up to ₹ 4 lakh for ignoring fire safety norms

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Leaving electrical appliances like irons, toasters, and TVs switched on and left unattended and unattended diya or candle in balconies have been some of the biggest reasons for fires in apartment complexes.

There have been at least reports of 20 fires in different apartment complexes in Greater Noida. The authorities sprung into action after the incidents.

“Notices were given to 374 people living in high-rise societies. Out of which 155 people got it rectified. During the checking, the rest of the people did not take any cognisance of this,” Pradeep Kumar, Chief Fire Officer, Gautam Budh Nagar, told Local18, a news agency.

“A penalty of 3-4 lakhs has been imposed on three to four people and a case has been registered against the rest as well,” he added.

Lapses within the home have been some of the big reasons for the fires, according to Kumar. These include:

  • Leaving electrical appliances like irons, toasters, and TVs switched on and left unattended.
  • Unattended diya or candle in balconies.
  • Forgotten pan on the stove with oil in it.
  • Choked chimneys in the kitchen. It’s important to clean the chimney every three to four months.

The risk of such accidents is made worse by the apathy of the builders who do not follow the fire safety norms. As a buyer, if you’re planning to buy an apartment in a highrise, do check whether the construction plan is compliant with fire safety rules.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Leaner but meaner? Global corporations axe jobs to correct ‘over managing’, save costs

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Global corporations like Tesla and Bayer implement workforce reductions to streamline operations, aiming to correct over-management, enhance flexibility, and save costs. Amidst challenges like competition, financial strains, and the rise of AI, companies resort to leaner structures to navigate uncertainties and boost efficiency in an evolving business landscape.

In the latest upheaval, Tesla has announced a 10% reduction in its workforce globally. This announcement comes against the backdrop of a cascade of layoffs by major corporations over the past year and into this year, all in pursuit of greater flexibility and agility in what seems to be an unforgiving environment of high-interest rates, looming recession fears, and growing dominance of artificial intelligence.

The tech sector, for instance, bore the brunt of over 250,000 job losses in 2023, with industry giants like Alphabet, Accenture, Meta, Microsoft, and Amazon announcing workforce reductions. The trend continued into 2024, with 50,000 tech jobs slashed by March across major players.

Restructuring was seen across various sectors, with the likes of Apple, Amazon, Dell, IBM, Credit Suisse, Barclays, Spotify, Unilever, Disney, Novartis, and Mckinsey cutting jobs.

The buzzword among these global juggernauts appears to be ‘leaner,’ as they look to trim excess layers. Mark Zuckerberg, for one, articulated that the layoffs were aimed to make the company leaner, and more technically proficient to bolster business performance. Elon Musk echoed similar sentiments at Tesla, framing the layoffs as preparations for the next growth cycle, envisioning a leaner, more innovative, and hungry organization.

Similarly, most recently Bayer, with nearly 100,000 employees, unveiled plans to revamp its structure to enhance flexibility, efficiency, and innovation. This restructuring, which includes simplifying its 1,300-page rulebook, seeks to dismantle rigid hierarchies to empower employees and enhance decision-making.

While companies strive for heightened competitiveness, many decisions are also spurred by weakened financials. Tesla, grappling with intensified competition in the EV market, witnessed an 8.5% decline in deliveries in the first quarter.

While Bayer’s stock plummeted over 50% in the past year, burdened by litigations stemming mainly from its 2018 acquisition of Monsanto for $63 billion and a hefty net debt of 35 billion Euros.

Looking ahead, industry observers predict 2024 to be equally tough in terms of job losses, with AI as a major variable.

Reports indicate over 4,000 jobs have succumbed to AI since May last year and into 2024. Notable instances include Google’s workforce reduction by 6% in January 2023, driven by pressure from Microsoft and OpenAI’s offerings on its core search engine domain. More so, Google also cut ‘hundreds’ from its sales team earlier this year as its ad division transitioned to AI-powered sales.

On a similar note, software giant SAP unveiled a $2.2 billion restructuring initiative this year, slated to affect 8,000 jobs, as it pivots towards AI-driven business domains. Other companies embracing AI-driven restructuring this year itself include MSN, Ikea, Salesforce, and others.

Lastly, as uncertainties ranging from geopolitics to interest rates and AI continue to loom large, the trend of restructuring shows no signs of abating. With notable giants such as IBM, Dell, Vodafone, Mattel, and Ericsson, Nike already making announcements regarding job cuts this year, it appears that further reshaping across the corporate landscape is imminent.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Vodafone Idea raises ₹5,400 crore from anchor investors for infrastructure expansion and 5G rollout

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Vodafone Idea raised Rs 5,400 crore from 74 anchor investors, including GQG Partners and Fidelity. Allocating shares at Rs 11 each, the company plans a Rs 18,000 crore follow-on public offering (FPO) to bolster infrastructure, focusing on 5G expansion.

Vodafone Idea, on Wednesday, said that it has successfully secured 5,400 crore from 74 anchor investors. Notable among these investors are GQG Partners, The Master Trust Bank of Japan, UBS, Morgan Stanley Investment Management, Citigroup Global Markets, Australian Super, Fidelity, Quant, and Motilal Oswal.

Allocating 491 crore shares at Rs 11 per share, the telecom company granted the highest share percentage, 26 percent, to GQG Partners, totalling Rs 1,345 crore. Fidelity Investments also made a substantial investment of about Rs 772 crore in the FPO. Additionally, Troo Capital and Australian Super joined in, committing Rs 331 crore and Rs 130 crore, respectively.

Investor Amount Invested (in Rs crore)
GQG Partners 1,345
Fidelity Investments 772
Troo Capital 331
Australian Super 130
Motilal Oswal Midcap Fund 500

A significant portion, approximately 16.2 percent amounting to Rs 874 crore, was allocated to domestic mutual funds, with Motilal Oswal Midcap Fund leading with a Rs 500 crore investment.

This fundraising initiative precedes Vodafone Idea’s ambitious plan to raise Rs 18,000 crore through India’s largest follow-on public offering, set to commence on Thursday, April 18, with the offering concluding on April 22.

The capital raised from this FPO will be earmarked for strategic endeavours, including the establishment of new 5G sites, expansion of the existing 4G network, and deferral of spectrum payments, as outlined in its red herring prospectus (RHP). Of the total FPO proceeds, a substantial portion, Rs 12,750 crore, will be channeled into enhancing network infrastructure, including the setup of new 4G sites, expansion of existing ones, and establishment of new 5G sites.

In the coming fiscal years, Vodafone Idea intends to set up 10,000 new 5G sites in FY25 with a budget of Rs 2,600 crore, followed by 12,000 additional sites in FY26, with a budget of Rs 3,120 crore. The company aims to cover subscribers accounting for 40% of its revenue with 5G services within the next 24-30 months, with initial rollouts expected in select areas within 6-9 months of funding acquisition.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Right to sleep is basic requirement, person summoned under PMLA cannot be deprived of this: Bombay HC

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The Bombay High Court on Tuesday criticised the Enforcement Directorate (ED) for recording a petitioner’s statement late into the night, violating their right to sleep. The court directed the ED to establish “earthly timings” for such procedures, emphasizing the right to sleep as a fundamental human right.

The Bombay High Court expressed strong disapproval of the late-night interrogation tactics employed by the Enforcement Directorate (ED), emphasizing the fundamental importance of the right to sleep and its connection to human rights. The court, comprising Justices Revati Mohite-Dere and Manjusha Deshpande, made these observations while addressing a petition brought forth by a 64-year-old individual accused under the Prevention of Money Laundering Act (PMLA).

The petitioner, a resident of Gandhidham, Gujarat named Issrani, was arrested in August 2023 on charges related to money laundering. Through his legal representatives Vijay Aggarwal, Ayush Jindal, and Yash Wardhan Tiwari, Issrani sought to challenge the legality of his arrest before the Bombay HC. The advocates argued that Issrani’s rights were violated during his interrogation, highlighting instances where his personal liberty was restricted, his mobile phone confiscated, and he was continuously monitored even during restroom breaks.

According to Aggarwal’s submissions, Issrani was subjected to interrogation throughout the night despite being medically unfit and having cooperated in previous investigations. This extended questioning period, which lasted until the early hours of the morning, infringed upon Issrani’s fundamental right to sleep, a component of the right to life guaranteed under Article 21 of the Indian Constitution.

The court took note of the timeline, noting that Issrani’s statement was recorded from 10:30 p.m. until around 3:30 a.m., after which he was arrested at 5:30 a.m. The bench criticised the practice of conducting interrogations during late hours, emphasizing that individuals summoned under the PMLA should have their statements recorded during reasonable, “earthly” hours. The court underscored the adverse effects of sleep deprivation on physical and mental well-being, highlighting its impact on cognitive function.

In response to these concerns, the court directed the ED to establish guidelines for conducting interrogations within reasonable hours and issued a stern reminder that consent does not justify the deprivation of an individual’s right to sleep. The bench scheduled a follow-up hearing for compliance on September 9th.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Sugar for ethanol to continue, no retail price hike despite costlier edible oil imports: Food Secretary

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

With a 5.5% year-on-year inflation noted in sugar, Food Secretary Sanjeev Chopra told CNBC-TV18 that there are no supply side shocks and sugarcane farmers are also getting their dues on time. He termed the diversion of eight LMT more sugarcane for ethanol as good news for the industry, up from 17 LMT earlier.

With India planning to achieve 20% ethanol blending in fuel, Food Secretary Sanjeev Chopra has told CNBC TV18 that sugarcane will continue to be diverted for ethanol. He said that closer to the 20% target, 50% of ethanol will be derived from sugarcane and another 50% will be derived from maize and damaged foodgrains.

With a 5.5% year-on-year inflation noted in sugar, he stated that there are no supply side shocks and sugarcane farmers are also getting their dues on time. He termed the diversion of eight LMT more sugarcane for ethanol as good news for the industry, up from 17 LMT earlier.

Assuring no supply-side hurdle for imported edible oil despite a rise in global prices, he described the rise as “temporary” in view of labour shortages in Malaysia and Indonesia and the Muslim holy month of Ramzan.

While he attributed the rise in freight prices of sunflower oil imported from Europe to the Red Sea conflict which prompted shipments to come across the Cape of Good Hope in Africa, Chopra said that the industry absorbed the rise in cost and no impact was seen on retail prices.

In a move which will insulate India from price shocks in these commodities, he said that the Agriculture Ministry is already working on a plan to make India self-sufficient in pulses & oilseeds in the next few years.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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10 Questions · 5 Minutes
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What coins do you think will be valuable over next 3 years?

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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Elon Musk says users may have to pay for liking, saving and replying to posts on X

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Twitter, under Elon Musk’s direction, may now require a fee for liking, posting, replying, and even bookmarking tweets. Initially implemented in New Zealand and the Philippines, the move aims to combat spam bots.

Elon Musk may charg e new users on X, formerly known as Twitter, a nominal fee for liking, posting, replying, and even bookmarking tweets. This development was first brought to light by the X Daily News account, which noticed alterations in the platform’s text indicating the introduction of a yearly charge for new users.

This payment policy was initially implemented in New Zealand and the Philippines, reportedly aimed at reducing spam bots and enhancing user experience. Musk defended this move, citing the necessity to combat the influx of spam bots, which can easily bypass current AI-based checks. He also highlighted how fake accounts occupy valuable usernames, limiting options for genuine users.

However, Musk didn’t delve into specifics regarding how Twitter plans to implement this change effectively to deter spam and fake accounts. Critics argue that spammers may just pay the fee or create multiple accounts, undermining the intended purpose. Additionally, the prospect of a paywall might deter potential users who prefer free alternatives.

The anticipated cost for this service is around $1, given its equivalent of $1.75 in New Zealand currency.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?