Meta looks to cut costs by at least 10%
Nykaa founder Falguni Nayar is the richest woman in India+ 9 more stories
All the important news from the tech world, summarized for you. Grab your chai and sip on!
Meta looks to cut costs by at least 10%; Employees to help achieve the target by losing jobs?
The reported figure represents a big jump from the earlier forecast of about 2% to 4% cost cuts that Meta announced in July.
To meet its latest target, the Facebook parent has already started nudging out a large number of staffers by reorganizing departments and providing affected employees a limited window to apply for other roles within Meta.
Apple rolls out iOS 16.1 public beta 2
The software release brings awaited features first announced during the WWDC 2022 keynote, alongside new tweaks that Apple has been working on.
Exclusive with iOS 16.1 public beta 2, Apple has added a Lock Screen charging indicator previously available on iOS 15. The company has also fixed the “copy and paste” bug, alongside the three-fingers gesture bug.
JP Morgan: Apple could produce one out of four iPhones in India by 2025
JP Morgan expects Apple to move about 5% of iPhone 14 production from late 2022 to India, which is the world’s second-biggest smartphone market after China.
It is also estimating about 25% of all Apple products, including Mac, iPad, Apple Watch and AirPods, to be manufactured outside China by 2025 from 5% currently.
Instagram faces suspension across Iran in the wake of protests
Iranians saw their access to Instagram disrupted on Wednesday following days of mass protests over the death of a woman who was detained by the morality police.
There was no immediate comment from Iranian authorities on the disruption to Instagram, which would limit the ability of protesters to organize and share information.
Nykaa founder Falguni Nayar becomes the richest woman in India
The entrepreneur with a net worth of ₹38,700 crores is on the 33rd spot in the top 100 billionaires list. She has however surpassed Biocon founder Kiran Mazumdar-Shaw to become the richest self-made Indian woman.
Falguni Nayar was also among the top ten gainers, witnessing an increase in wealth by ₹30,000 crores to occupy the fifth spot.
DoT prepares draft proposing to waive fee, penalty under new telecom rules
The draft, Indian Telecommunication Bill, 2022, has also proposed a provision for refund of fees in case a telecom or internet provider surrenders his license.
The central government may waive in part or full any fee, including entry fees, license fees, registration fees, interest, additional charges or penalty for any licence holder or registered entity under the telecom rules.
Imperva successfully fends off DDoS attack with 25.3 billion requests
Internet security company Imperva has announced its DDoS mitigation solution has broken a new record. The DDoS attack unfolded on June 27, 2022, peaking at 3.9 million requests per second and averaging 1.8 million RPS.
Attacks peaking above one million RPS typically last between several seconds and a few minutes, but the one Imperva mitigated lasted over four hours.
TikTok to disable advertising feature for politicians’ accounts ahead of the midterm elections
The company says it will require these accounts to go through a “mandatory” verification process, and will restrict them from accessing advertising and other revenue generating features.
Up until now, verification for politicians and other officials was entirely optional. But that’s now changing, at least in the United States.
More than half of US car sales are projected to be EV by 2030
Biden’s climate spending is set to kickstart the market for EVs. The US will surpass the global average in 2026 instead of 2028.
In 2021, electric vehicles accounted for less than 5% of sales in the US, below the global rate of nearly 9% and well below the adoption rate in countries like China, where plug-ins currently account for roughly 24% of new car sales.
Indian govt to give its final stand on legality of crypto by Q1 2023
India is currently not FATF-compliant on crypto assets since the global money laundering and terrorist financing watchdog requires countries to have a clear stance on the legality of crypto assets to be compliant.
In addition, a Financial Stability Board report is expected in October. It will help the Indian decide whether to ban crypto transactions or provide a legal framework.
300! Wipro found 300 staff working with rivals at same time
Wipro chairman Rishad Premji said the company had found its 300 employees worked with one of its competitors at the same time, and added that action was taken in such cases by terminating their services.
The issue of ‘moonlighting’ has emerged as a big talking point after the Wipro chairman flagged the issue.
Twitch changes subscription revenue sharing citing deal with creators hosting costs
Starting June 1, 2023, Twitch says subscription revenue above $100K will be split 50/50, not 70/30, for streamers on premium deals, citing hosting costs .
Using the published rates from Amazon Web Services’ Interactive Video Service – which is essentially Twitch video – live video costs for a 100 CCU streamer who streams 200 hours a month are more than $1000 per month.
GM inks deal with Hertz to deliver 175,000 electric vehicles
The new EVs will come from all of GM’s brands, including Chevrolet, GMC, Cadillac, Buick, and BrightDrop, the automaker’s commercial vehicle division.
The first vehicles, a batch of Chevy Bolt EV and Bolt EUVs, will be delivered to Hertz beginning in the first quarter of 2023, GM said. Vehicle deliveries will continue until 2027.
Gaming giant Nintendo to remove account login option via Twitter, FB
Nintendo said that users will no longer be able to create a new Nintendo Account using Facebook or Twitter. However, they can sign in via their Apple and Google accounts.
It will also no longer be possible to participate in missions through which users can earn My Nintendo Points by linking Nintendo Account to a Facebook or Twitter account.
Oyo trying to mislead investors with fake accounting: TV Mohandas Pai; Oyo clarifies
“There is nothing like an adjusted ebidta. They are trying to mislead Investors by such fake accounting. Regulators and stock exchanges should stop such misreporting in India.” – said Mohandas Pai.
EBITDA is clearly reported & is higher Rs 10.57cr for Q1FY23 than Adj EBITDA of Rs 7.26cr. All numbers are from audited signed financial statements, clarified OYO CFO.
Wearables sales slacken as the novelty wears off
IDC believes shipments of wearables will be flat in 2022 at around 535.5 million units, with growth to return to the smartwatch and hearable markets as they reach new buyers in emerging markets and punters in mature markets replace dead or obsolete products.
Apple continues to dominate the wearables market, with 25 percent market share in Q2 2022.
Microsoft plans to expand Windows 11’s support for Android apps and games via the Amazon Appstore
New upgrades releasing in 31 countries in the next few weeks. Customers will have a new search experience inclusive of screenshot previews in Microsoft Store and Windows Search, and users will be able to easily restore their apps when transitioning to a new Windows 11 device.
Google search can help you buy train tickets in select countries
The initial list of countries is Japan, Germany, Italy, and Spain.
While users have been able to search for flights and hotels since 2011, Google first introduced carbon emission tracking in 2021 when it rolled out features meant to help users track and shrink their carbon footprints when searching on the platform.