Walmart reportedly raising up to $3 bn for Flipkart to expand India biz

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Walmart is stately coming up with 3$ for its e-commerce giant Flipkart to further expand its operations in the country.

With new funds, Flipkart’s valuation is set to soar to more than $40 billion, giving a fillip to the Indian funding scene which is going through a harsh winter.

Flipkart Group in July last year raised $3.6 billion to grow and advance the digital commerce ecosystem in India. The investment valued the group at $37.6 billion post the money then.

According to media reports, Walmart may bring strategic investors into Flipkart via this fundraising.

The move, according to close sources, is to keep Flipkart ahead in the e-commerce race as online shopping surges with every festive season in the country.

Reached for a reaction, a Flipkart spokesperson told IANS that “We do not comment on speculation”. Walmart declined to comment.

The last fundraiser demonstrated significant interest from global investors, including sovereign funds, private equity, and crossovers in addition to Walmart. It was led by financial investors GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2, and Walmart, along with investments from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, and marquee investors Tencent, Willoughby Capital, Antara Capital, Franklin Templeton, and Tiger Global.

“This investment by leading global investors reflects the promise of digital commerce in India and their belief in Flipkart’s capabilities to maximize this potential for all stakeholders,” Kalyan Krishnamurthy, Chief Executive Officer, of Flipkart Group, had said in July last year.

“The quality of the investor group and valuation is further confirmation of global confidence in Flipkart and its mission to transform commerce in India,” Judith McKenna, President, and CEO – of Walmart International, had said.

Bengaluru-based Redseer Strategy Consultants had predicted $11.8 billion worth of gross merchandise value (GMV) during the entire festive month up to Diwali. E-commerce marketplaces usually hold up to three sales leading up to the festival of lights.

The online retail platforms in India clocked $5.7 billion (about Rs 40,000 crore) worth of festive sales between September 22 to 30, a robust 27 percent (year-on-year) growth.

Mobile phones continue to lead the market with a 41 percent contribution in gross merchandise value (GMV) and nearly 56,000 mobile handsets were sold every hour, according to the report by Redseer.

Flipkart Group (Flipkart, Myntra, and Shopsy) continued to lead the market with a 62 percent market share in GMV.

Apple gives Meta another jolt, puts 30% tax on ‘post boosting’ on App Store

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Apple-Meta’s war over App Store has intensified with new updates that require iOS developers to give Apple a 30 percent cut on the sales of ‘boosts’ for posts in a social media app.

The move will affect Facebook and Instagram which let people pay to boost the reach of their posts, reports The Verge.

It is also the first time that Apple has directly taxed advertising in iOS apps.

“Apple continues to evolve its policies to grow their own business while undercutting others in the digital economy,” a Meta spokesperson was quoted as saying in the report late on Tuesday.

Apple previously said it didn’t take a share of developer advertising revenue, and “now apparently changed its mind”.

“We remain committed to offering small businesses simple ways to run ads and grow their businesses on our apps,” said Meta.

Paying to boost posts is a common feature across Meta’s family of apps, all well as Twitter and the Chinese short-form video platform TikTok.

In a statement shared with The Verge, an Apple spokesperson said the App Store has long taken a cut of digital goods and services.

“Boosting, which allows an individual or organization to pay to increase the reach of a post or profile, is a digital service — so of course In-App Purchase is required. This has always been the case and there are many examples of apps that do it successfully,” the Apple spokesperson was quoted as saying.

Apple’s privacy changes in the App Store called App Tracking Transparency (ATT) have already given a boost to its ad business, and the iPhone maker has managed to break the Facebook-Google advertising monopoly in the online search market.

Meta Founder and CEO Mark Zuckerberg have admitted that Apple iOS privacy changes will cost the company a whopping $10 billion in 2022.

Meta has also accused Apple of favoring Google over app-based platforms like Facebook with its privacy policies.

Apple’s iOS 14.5 update, released in April 2021, came with an ATT feature that has affected digital advertising for tech giants.

Spotify says Apple is destroying its audiobook store by ‘choking competition’

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Leading music streaming platform Spotify has said that Apple is ruining its audiobook store by “choking competition”.

Apple’s limitations are harmful to both creators and users, as it continues to prevent Spotify and other applications from offering a seamless user experience, the company said in a blog post.

According to the platform, Apple’s restrictions are “far too complicated and confusing,” and they change “arbitrarily, making them impossible to interpret.”

The market for audiobooks has huge potential for growth and more authors could be discovered by new listeners, but the buying flow the company has been forced into is unnecessarily restricting that possibility.

“Apple continues to dictate what online innovation looks like, doing serious harm to the internet economy, choking competition and the imagination of app developers. Apple has shown time and again that it will not self-regulate and has no real incentive to change,” said Daniel Ek, CEO of Spotify.

“With our audiobooks launch, Apple has once again proven just how brazen it is willing to be with its App Store rules, constantly shifting the goalposts to disadvantage their competitors,” he added.

Meanwhile, recently, the company announced that it had acquired Dublin-based Kinzen, a global leader in protecting online communities from harmful content.

Musk to sign takeover deal as Twitter employees slam his layoff threat

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Elon Musk has reportedly told investors and bankers that he is going to close the $44 billion Twitter takeover deal by Friday, as employees at the micro-blogging platform protest his plan to fire 75 percent of the Twitter workforce.

Musk must complete the acquisition by Friday or face the lawsuit at a Delaware court in the US, as per the deadline given by the judge.

The world’s richest man, who has raised $13 billion as loan from banks and lenders to go ahead with the takeover deal, is set to sign the papers necessary to get the deal closed, according to reports.

Meanwhile, a Time report said that Twitter employees have written an open letter to the board of directors and Musk, criticizing his plans to lay off 75 percent of the workforce.

“Musk’s plan to lay off 75 percent of Twitter workers will hurt Twitter’s ability to serve the public conversation. A threat of this magnitude is reckless, undermines our users’ and customers’ trust in our platform, and is a transparent act of worker intimidation,” the draft letter read.

“We believe the public conversation is in jeopardy,” they added.

Twitter has significant effects on societies and communities across the globe.

“A threat to workers at Twitter is a threat to Twitter’s future. These threats have an impact on us as workers and demonstrate a fundamental disconnect with the realities of operating Twitter. They threaten our livelihoods, access to essential healthcare, and the ability for visa holders to stay in the country they work in,” the employees said in the open letter.

They called on Twitter management and Musk to “cease these negligent layoff threats”.

“As workers, we deserve concrete commitments so we can continue to preserve the integrity of our platform,” they said.

Google logs highest selling week ever for Pixel smartphones: Pichai

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Alphabet and Google CEO Sundar Pichai has revealed that the company recently had its highest-selling week ever for the Pixel 7 series of smartphones.

Earlier this month, Google introduced the Pixel 7, the Pixel 7 Pro, and the very first Pixel Watch.

“We’ve also previewed more detail about the Pixel Tablet, which is coming in 2023. Pixel combines our foundational technologies, AI, Android, and our Google Tensor G2 processor to bring state-of-the-art AI directly to the device,” Pichai said during the quarterly earnings call on Tuesday.

The Pixel 7 and Pixel 7 Pro offers industry-leading photography features that can unblur or sharpen photos and shoot cinema-quality videos.

“We recently had our highest selling week ever for Pixel, and I’m really proud of the positive reviews so far,” he mentioned.

Powered by Google’s next-generation Tensor G2 processor and shipping with Android 13, the Pixel 7 is priced at Rs 59,999 and the Pixel 7 Pro is priced at Rs 84,999 in India.

Pixel 7 Pro has a 6.7-inch immersive display, a polished aluminum frame, and a camera bar in three colors: Snow, Obsidian, and a new Hazel color.

Google has also introduced its latest release of Android.

“Android 13 offers new personalisation features, improved privacy controls, and a more seamless experience with connected devices,” said Pichai.

He also revealed that Google Workspace is now being used by more than 8 million businesses and organizations worldwide.

“We are investing deeply from the silicon to the OS to powerful software experiences because it’s a big opportunity to move to compute forward and build deeper relationships with people who love using Google products,” said Pichai.

Google says reviewing CCI’s decision to evaluate next steps

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Hit hard by two back-to-back fines by the Competition Commission of India (CCI), Google on Wednesday said that it is committed to its users and developers and reviewing the decision to evaluate the next steps.

The Indian regulator on Tuesday slapped its second penalty on Google — this time to the tune of around $113 million (Rs 936 crore) — for abusing its dominant position with respect to its Play Store policies.

Last week, the competition watchdog imposed a penalty of Rs 1,337.76 crore on Google for abusing its dominant position in multiple markets in the Android mobile device ecosystem.

In a statement, Google said that the Indian developers have benefited from the technology, security, consumer protections, and unrivaled choice and flexibility that Android and Google Play provide.

“And, by keeping costs low, our model has powered India’s digital transformation and expanded access for hundreds of millions of Indians. We remain committed to our users and developers and are reviewing the decision to evaluate the next steps,” a Google spokesperson said.

In its fresh ruling, the regulator found Google to be dominant in the markets for licensable OS for smart mobile devices and market for app stores for Android smart mobile OS, in India.

“Selling of in-app digital goods constitutes an important means for app developers to monetize their creations/innovations. However, for in-app digital goods to be distributed to purchasing users, developers must configure their apps so that all purchases of the digital goods go through Google’s payment system, which processes the transactions,” it said.

India is Google’s largest market by users.

The CCI also directed Google to cease and desist from indulging in anti-competitive practices.

The tech giant has been given a time of 30 days to provide the requisite financial details and supporting documents.

From Rohini to LVM3, ISRO’s changing policy for rocket names

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From names like Rohini for its sounding rockets, the Indian space agency has come to name its heavy-lift rocket with three alphabets and a number – such as LVM3.

The Indian Space Research Organisation (ISRO) could have done better in naming the rocket that will compete with the likes of Ariane, and Falcon rockets in the global market with a better name than the unimaginative LVM3 is the general view gleaned by Media.

A short and nice name rooted in Indian tradition – even Bharat – would have been better as the rocket will be offered for outsiders on a commercial basis.

On October 23, ISRO’s Geosynchronous Satellite Launch Vehicle-MkIII (GSLV MkIII), renamed LVM3 (Launch Vehicle Mk3) put into orbit UK-based OneWeb’s 36 satellites successfully.

Though the GSLV MkIII and the LVM3 are the same, the rocket flying Indian satellite will be badged as GSLV MkIII and the one that flies with third-party satellites will be badged as LVM3.

“The GSLV is not offered for launch service. It meets only internal demand. Only the PSLV (Polar Satellite Launch Vehicle) and LVM3 are in the commercial launch market,” ISRO Chairman S. Somanath told the media.

“The name Rohini for India’s sounding rocket was chosen by (space program pioneer) Vikram Sarabhai, late Chairman. The star has a ‘V-shaped architecture in the sky, like an arrow in the sky,” Dr. P. Pramod Kale, retired Director of the Vikram Sarabhai Space Centre (VSSC), told media.

After Rohini, ISRO started developing satellite launch vehicles (SLV) or rockets and when the third configuration out of five was selected, the rocket was called SLV3, Dr. M.Y.S. Prasad, retired Director of the Satish Dhawan Space Centre (SDSC), told media.

The SLV3 carried a satellite called Rohini.

When the features of SLV3 were augmented, the vehicle was called Augmented SLV (ASLV). The ASLV rocket had carried the Stretched Rohini Satellite Series or SROSS.

Then came the development of the Polar Satellite Launch Vehicle (PSLV) that would launch satellites orbiting from one pole to another pole.

The Indian space agency has developed different variants of the PSLV rocket to carry satellites of varying weights.

Following the PSLV, the ISRO developed a heavier rocket to carry communication satellites that would be put in geostationary orbit, that is, Geosynchronous Satellite Launch Vehicle (GSLV).

While the first-generation GSLV has been phased out, the second and third-generation GSLVs are in service.

It is the third generation GSLV that orbited the 36 OneWeb satellites on October 23.

In between, to cater to the demand for launching small satellites weighing up to 500 kg, the ISRO recently developed a smaller rocket called Small Satellite Launch Vehicle (SSLV).

Retired ISRO officials had told media that the space agency could have chosen some other name for the small rocket than a long-winding SSLV.

“It is time to look into our scriptures, and culture and come up with a name that would signify features of the new rocket and its power,” former ISRO Chairman G. Madhavan Nair had told media.

Incidentally, private-sector rocket startups like Agnikul Cosmos and Skyroot Aerospace have named their rockets Agnibaan and Vikram, respectively.

“Space scientists were more focused on their work than on propaganda. The rockets were named based on their orbiting the satellites,” Prasad said.

Perhaps the rocket was named in a secular manner, he added.

According to him, ISRO officials used to refer to GSLV MkIII as LVM3 during their discussions when the rocket was under development.

While ISRO officials also called the 640-tonne GSLV Mk III rocket “fat boy”, the media nicknamed it ‘Bahubali’, after the hero of the successful film “Bahubali” who lifts a heavy ‘Lingam’.

According to Prasad, the Ariane rocket belonging to the European space agency Arianespace gets its name from the French mythological character Ariane. The Chinese and Russian rockets – Long March and Soyuz respectively – got their names from their ideologies and history.

“If India is planning to name its rockets based on historical personalities then the name ‘Tipu’ will be apt as Tipu Sultan was the first Indian to use rockets in war,” Prasad added.

The Indian defense establishment has named its missiles as BrahMos, Agni, Akash, Nag, Prithvi, Rudram, and others.

India also named its initial satellites after famous mathematician-astronomer Aryabhatta, and mathematicians Bhaskara I and Bhaskara II.

Sometime later, the thinking within the ISRO changed. The satellites were named in line with the purpose for which they were launched.

A noticeable change in the naming happened with the Indian satellite navigation system. Initially named the Indian Regional Navigation Satellite System (IRNSS), it was finally renamed NavIC – taking the first three letters from the word navigation and the first two letters from the words ‘Indian Constellation’.

A couple of years back, ISRO decided on a new naming policy for its satellites. The earth observation satellites were named EOS followed by a number and the communication satellites CMS followed by a number.

Tim Cook calls on Apple suppliers to decarbonise by 2030

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Tech giant Apple on Tuesday called on its global supply chain to reduce greenhouse gas emissions and use a holistic approach to decarbonization.

Apple also announced new initiatives and investments aimed at promoting climate solutions for communities and decarbonizing the global economy.

“Fighting climate change remains one of Apple’s most urgent priorities and moments like this put action to those words,” said Apple CEO Tim Cook.

“We’re looking forward to continued partnership with our suppliers to make Apple’s supply chain carbon neutral by 2030. Climate action at Apple doesn’t stop at our doors, and in this work, we’re determined to be a ripple in the pond that creates a bigger change,” he added.

According to Apple, its worldwide corporate operations have been carbon neutral since 2020, and the company is laser-focused on achieving its ambitious goal of becoming carbon neutral throughout its entire global supply chain and the life cycle of every product.

As part of Apple’s supplier engagement, the company is partnering with its worldwide supply chain to urge accelerated action to achieve carbon neutrality for their Apple-related corporate operations, it added.

Additionally, the company encourages suppliers to address greenhouse gas emissions beyond Apple production.

The company is also offering a suite of free e-learning resources and live training through its “Clean Energy Programme” that will help suppliers meet their commitments and go even further.

This will also allow work closely with its suppliers and local partners to identify effective solutions for renewable energy and carbon removal.

Moreover, customers in the US can now play a role in decreasing the carbon footprint of iPhones with Clean Energy Charging.

Starting this month, the feature is available in the US through iOS 16 that will look at the source of electricity during expected charge times in order to optimize for cleaner energy sources such as solar or wind, according to a report.

Video gaming can lead to better cognitive performance in children: Study

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Contrary to the popular belief that playing video games is linked with mental health problems, a new study has found that it may be associated with better cognitive performance in children.

The study, published in JAMA Network Open, found that those who reported playing video games for three hours per day or more performed better on cognitive skills tests involving impulse control and working memory, compared to children who had never played video games.

“This study adds to our growing understanding of the associations between playing video games and brain development,” said researcher Nora Volkow, from National Institute on Drug Abuse (NIDA).

“Numerous studies have linked video gaming to behavior and mental health problems. This study suggests that there may also be cognitive benefits associated with this popular pastime, which are worthy of further investigation,” Volkow added.

For the study, the team analyzed data obtained when children entered the ABCD Study at ages 9 and 10. The research team examined survey, cognitive, and brain imaging data from nearly 2,000 participants within the bigger study cohort. They separated these children into two groups, those who reported playing no video games and those who said playing video games for three hours per day or more. This threshold was selected as it exceeds the American Academy of Pediatrics screen time guidelines, which recommend that video gaming time be limited to one to two hours per day for older children.

For each group, the investigators evaluated the children’s performance on two tasks that reflected their ability to control impulsive behavior and to memorize information, as well as the children’s brain activity while performing the tasks.

The researchers found that the children who reported playing video games for three or more hours per day were faster and more accurate on both cognitive tasks than those who never played. They also observed that the differences in cognitive function observed between the two groups were accompanied by differences in brain activity. Functional MRI brain imaging analyses found that children who played video games for three or more hours per day showed higher brain activity in regions of the brain associated with attention and memory than those who never played.

At the same time, those children who played at least three hours of video games per day showed more brain activity in frontal brain regions that are associated with more cognitively demanding tasks and less brain activity in brain regions related to vision.

Earlier, a study reported that video games can precipitate life-threatening cardiac arrhythmias in susceptible children whose predisposition may have been previously unrecognized.

Apple unveils macOS Ventura, iPadOS 16 updates with new productivity tools

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New software updates have been revealed by Apple for its Mac and iPad users called “macOS Ventura” and “iPadOS 16” with new productivity tools.

macOS Ventura is available as a free software update on Macs with Apple silicon and Intel-based Macs, while iPadOS 16 is available for iPad (5th gen and later), iPad mini (5th gen and later), iPad Air (3rd gen and later), and all iPad Pro models, Apple said in a statement.

The macOS Ventura includes new features like “Continuity Camera” which enable users to seamlessly work across their Apple devices, and “productivity tools” including a stage manager that helps users stay focused and easily move between tasks.

Passkeys brings a passwordless future to Safari – a new sign-in method that makes browsing safer. A passkey is easier to use, more secure, and designed to replace passwords, it added.

The new iPadOS 16 comes with features that include new ways to collaborate via messages, big updates to mail, iCloud shared photo library, passkeys, and new collaboration features in Safari.

Moreover, it comes with the weather app, pro features including reference mode and display zoom, and an entirely new multitasking experience with the stage manager, according to a report.

The common feature that both the new updates include is that users can now edit and unsend the message after sending it.

You can now edit messages for up to 15 minutes after sending them and unsend them for up to 2 minutes. A message can be edited up to five times, and recipients will be able to see the changes made to the message.

The user can cancel a message’s delivery within 30 seconds of hitting send or can change the duration of the message in the outbox. In addition, Undo Send can be turned off, said the company.