How much money will you need to be comfortable when you retire is one of the trickiest financial problems. The latest Bloomberg news survey says at least $3 million is needed for a secure retirement. When asked how much is enough to be comfortable when you retire, Bloomberg's MLIV Pulse survey of 553 investors globally showed about a third bet on $3 million and roughly another third pencilled in $5 million.

Most respondents are confident that by the end of 2023, their retirement savings will be higher than in 2022, and investors were also convinced they would get closer to their retirement objective. But the respondents were not sure if they would have enough money saved to support their current standard of living after retiring from work.

Also Read | <a href="https://www.wionews.com/world/is-vladimir-putin-sick-new-clip-of-his-feet-twitching-goes-viral-sparks-health-concerns-564297">Is Vladimir Putin sick? New clip of his feet twitching goes viral, sparks health concerns</a>

Less than half of the investors gave that a 100 per cent chance.

The lack of conviction on the standard of living is mostly driven by a surge in inflation since the war on the edge of Europe a year ago. According to Vanguard Group, the average American retirement account was down 20 per cent last year, largely driven by higher borrowing rates, inflation, and a downturn in the prices of stocks and bonds.

Also Read | <a href="https://www.wionews.com/trending/same-sex-blessings-row-anglican-leaders-rejects-archbishop-of-canterbury-justin-welby-as-leader-564282">Same-sex blessing row: In a first, a move against Archbishop of Canterbury Justin Welby</a>

A large portion of retirement savings is invested in actively managed equity funds. Blue chip stocks make up for a majority of such funds, especially for senior savers and index funds.

With the hammering global stocks, surging inflation and rising interest rates, the value of those retirement savings has taken a beating. The global economic outlook and, in turn, the expectations for returns on assets also remain bleak this year.

Watch | <a href="https://www.wionews.com/videos/air-india-begins-massive-hiring-pilots-salary-crosses-rs-2-crore-564293">Air India begins massive hiring, pilots' salary crosses Rs 2 crore</a>

Still, despite the uncertain economic future and recent losses in their accounts, 56 per cent of investors in the survey said they are not changing their retirement plans. About 8 per cent of respondents indicated they would never retire.

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How much money will you need to be comfortable when you retire is one of the trickiest financial problems. The latest Bloomberg news survey says at least $3 million is needed for a secure retirement.

How much money will you need to be comfortable when you retire is one of the trickiest financial problems. The latest Bloomberg news survey says at least $3 million is needed for a secure retirement. When asked how much is enough to be comfortable when you retire, Bloomberg's MLIV Pulse survey of 553 investors globally showed about a third bet on $3 million and roughly another third pencilled in $5 million. Most respondents are confident that by the end of 2023, their retirement savings will be higher than in 2022, and investors were also convinced they would get closer to their retirement objective. But the respondents were not sure if they would have enough money saved to support their current standard of living after retiring from work. Also Read | Is Vladimir Putin sick? New clip of his feet twitching goes viral, sparks health concerns Less than half of the investors gave that a 100 per cent chance. The lack of conviction on the standard of living is mostly driven by a surge in inflation since the war on the edge of Europe a year ago. According to Vanguard Group, the average American retirement account was down 20 per cent last year, largely driven by higher borrowing rates, inflation, and a downturn in the prices of stocks and bonds. Also Read | Same-sex blessing row: In a first, a move against Archbishop of Canterbury Justin Welby A large portion of retirement savings is invested in actively managed equity funds. Blue chip stocks make up for a majority of such funds, especially for senior savers and index funds. With the hammering global stocks, surging inflation and rising interest rates, the value of those retirement savings has taken a beating. The global economic outlook and, in turn, the expectations for returns on assets also remain bleak this year. Watch | Air India begins massive hiring, pilots' salary crosses Rs 2 crore Still, despite the uncertain economic future and recent losses in their accounts, 56 per cent of investors in the survey said they are not changing their retirement plans. About 8 per cent of respondents indicated they would never retire. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

How much money is enough when you retire? $3 million, says survey

On February 22, 2023, Hong Kong's Financial Secretary Paul Chan unveiled the city's budget plan for the fiscal year 2023-2024.

The budget emphasises innovation and technology and seeks to revitalise Hong Kong's economy and address ongoing social and economic challenges, specifically focusing on creating a "Happy Hong Kong."

Incentivising the development of the industry using cultural exchange in the form of a carnival will help increase consumption in the country.&nbsp;

<a href="https://www.wionews.com/business-economy/fired-then-move-on-seven-ex-google-employees-seek-to-build-a-firm-564328">Also read |&nbsp;Fired? Then move on: Seven ex-Google employees seek to build a firm</a>

In addition, the budget plan also includes some notable tax alterations. With tax raises in place to increase the country's revenue.

One of the key features of the budget plan is a package of measures to support innovation and technology development.&nbsp;

The government has allocated $2.6 billion to various initiatives, including research and development grants, technology transfer support, and start-up funding.

In addition, around $6.4 million has been allocated for Web3 development with a task force dedicated to creating digital assets.&nbsp;

These measures are aimed at boosting Hong Kong's competitiveness in the global economy and supporting the city's transformation into a technology hub.

The budget plan also includes measures to address ongoing social and economic challenges, such as housing and healthcare, to create a "Happy Hong Kong".

The government has pledged to increase public housing spending and set out to distribute $5,000 of vouchers to strengthen consumption.&nbsp;

<a href="https://www.wionews.com/business-economy/japans-factory-activity-shrinks-at-the-fastest-pace-in-over-two-years-564258">Also read |&nbsp;Japan's factory activity shrinks at the fastest pace in over two years</a>

The budget also includes provisions for improving healthcare services and facilities, including constructing new hospitals and hiring more healthcare professionals.

Despite the ambitious goals in the budget plan, some observers have raised concerns about the challenges Hong Kong faces in the coming year.&nbsp;

Ongoing political unrest, the global economic slowdown, and the impact of the COVID-19 pandemic all present significant challenges to Hong Kong's economy and society.

However, the government's focus on creating a "Happy Hong Kong" reflects a commitment to addressing the city's social and economic challenges while investing in the future.

The plan's success will depend on various factors, including the ongoing political and economic situation in Hong Kong and the broader global context.

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On February 22, 2023, Hong Kong's Financial Secretary Paul Chan unveiled the city's budget plan for the fiscal year 2023-2024. The budget emphasises innovation and technology and seeks to revitalise Hong Kong's economy and address ongoing social and economic challenges, specifically focusing on creating a "Happy Hong Kong.

On February 22, 2023, Hong Kong's Financial Secretary Paul Chan unveiled the city's budget plan for the fiscal year 2023-2024. The budget emphasises innovation and technology and seeks to revitalise Hong Kong's economy and address ongoing social and economic challenges, specifically focusing on creating a "Happy Hong Kong." Incentivising the development of the industry using cultural exchange in the form of a carnival will help increase consumption in the country. Also read | Fired? Then move on: Seven ex-Google employees seek to build a firm In addition, the budget plan also includes some notable tax alterations. With tax raises in place to increase the country's revenue. One of the key features of the budget plan is a package of measures to support innovation and technology development. The government has allocated $2.6 billion to various initiatives, including research and development grants, technology transfer support, and start-up funding. In addition, around $6.4 million has been allocated for Web3 development with a task force dedicated to creating digital assets. These measures are aimed at boosting Hong Kong's competitiveness in the global economy and supporting the city's transformation into a technology hub. The budget plan also includes measures to address ongoing social and economic challenges, such as housing and healthcare, to create a "Happy Hong Kong". The government has pledged to increase public housing spending and set out to distribute $5,000 of vouchers to strengthen consumption. Also read | Japan's factory activity shrinks at the fastest pace in over two years The budget also includes provisions for improving healthcare services and facilities, including constructing new hospitals and hiring more healthcare professionals. Despite the ambitious goals in the budget plan, some observers have raised concerns about the challenges Hong Kong faces in the coming year. Ongoing political unrest, the global economic slowdown, and the impact of the COVID-19 pandemic all present significant challenges to Hong Kong's economy and society. However, the government's focus on creating a "Happy Hong Kong" reflects a commitment to addressing the city's social and economic challenges while investing in the future. The plan's success will depend on various factors, including the ongoing political and economic situation in Hong Kong and the broader global context. WATCH WION LIVE HERE Live TV

Hong Kong's ambitious budget plan to focus on 'Happy Hong Kong'

A Google senior manager recently fired as part of the tech giant's cost-cutting measure seeks to start his own business within six weeks. Six other former Google employees who were also let go similarly are helping to support the man, Henry Kirk.

One of the 12,000 employees let go by Google was Kirk, who spent eight years working there.

Kirk now targets to build his own design and development studio in New York and San Francisco in six weeks, along with his team.

Why six weeks? Because Krik wants to set up the new company before Google's 60-day layoff notice window ends.

Kirk said in a LinkedIn post narrating his story, "I have 52 days left. I need your help."

"Today, I'm taking a leap forward and turning this tragedy into an opportunity. I'm teaming up with 6 outstanding #xooglers to shape and own our futures. But there's one catch…my partners and their families have given me just 52 days to get this going and land projects, or we must go back to job searching. I am determined not to fail, so I need your assistance," he wrote in a LinkedIn post

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/indias-tcs-no-layoffs-instead-salary-hikes-are-coming-564047">India's TCS: No Layoffs; instead, salary hikes are coming</a>

While Kirk thinks this is probably the worst time to do it, he says that's the interesting and difficult part.

"Here's where you can help…I would appreciate introductions to your network. Please give likes and reposts to get the word out. I'm looking for conversations to identify opportunities where my team can help a business go from 0 to 1 or 1 to 100 through our end-to-end software services -research, design, and development," he noted.

Kirk and his team want to use their startup to provide design and research tools for other companies' apps and websites, engineering projects for businesses without the necessary expertise, and support startups in expanding and securing funding.

ALSO WATCH |&nbsp;Air India begins massive hiring, pilots' salary crosses Rs 2 crore

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"Seven of the finest ex-Googlers are fired-up, eager to research, design, and develop the most scrappy to ambitious software projects (and we'll do it quickly)," Kirk added.

The ex-Google senior manager's post is trending, and comments say Kirk's journey is an incredibly inspiring story of recently laid-off tech workers.

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A Google senior manager recently fired as part of the tech giant's cost-cutting measure seeks to start his own business within six weeks. Six other former Google employees who were also let go similarly are helping to support the man, Henry Kirk.

A Google senior manager recently fired as part of the tech giant's cost-cutting measure seeks to start his own business within six weeks. Six other former Google employees who were also let go similarly are helping to support the man, Henry Kirk. One of the 12,000 employees let go by Google was Kirk, who spent eight years working there. Kirk now targets to build his own design and development studio in New York and San Francisco in six weeks, along with his team. Why six weeks? Because Krik wants to set up the new company before Google's 60-day layoff notice window ends. Kirk said in a LinkedIn post narrating his story, "I have 52 days left. I need your help." "Today, I'm taking a leap forward and turning this tragedy into an opportunity. I'm teaming up with 6 outstanding #xooglers to shape and own our futures. But there's one catch…my partners and their families have given me just 52 days to get this going and land projects, or we must go back to job searching. I am determined not to fail, so I need your assistance," he wrote in a LinkedIn post ALSO READ | India's TCS: No Layoffs; instead, salary hikes are coming While Kirk thinks this is probably the worst time to do it, he says that's the interesting and difficult part. "Here's where you can help…I would appreciate introductions to your network. Please give likes and reposts to get the word out. I'm looking for conversations to identify opportunities where my team can help a business go from 0 to 1 or 1 to 100 through our end-to-end software services -research, design, and development," he noted. Kirk and his team want to use their startup to provide design and research tools for other companies' apps and websites, engineering projects for businesses without the necessary expertise, and support startups in expanding and securing funding. ALSO WATCH | Air India begins massive hiring, pilots' salary crosses Rs 2 crore "Seven of the finest ex-Googlers are fired-up, eager to research, design, and develop the most scrappy to ambitious software projects (and we'll do it quickly)," Kirk added. The ex-Google senior manager's post is trending, and comments say Kirk's journey is an incredibly inspiring story of recently laid-off tech workers. WATCH WION LIVE HERE:

Fired? Then move on: Seven ex-Google employees seek to build a firm

Japan's manufacturing activity shrank at its fastest pace in two-and-a-half years in February, according to a business survey. The 'au Jibun Bank' flash Japan Manufacturing Purchasing Managers' Index (PMI), a leading economic indicator, fell to a seasonally adjusted 47.4 in February from a final 48.9 in the previous month. The methodology shows 50 divided growth from contraction.

The latest contraction was attributed to the severe impact of the COVID-19 pandemic on global supply chains and manufacturing activity. The ongoing semiconductor chip shortage, which has affected the production of automobiles and electronic devices, has also contributed to the fall in Japan's PMI.

<h2>Japan's shrinking manufacturing: What does it mean?</h2>

The weak PMI reading highlights Japan's challenges in reviving its economy amid the pandemic. The country, meanwhile, has struggled to contain the virus, with new cases rising daily and the vaccination drive progressing slowly.

The most recent PMI numbers also emphasise Japan's need to focus its efforts on economic recovery.

ALSO WATCH |&nbsp;Worrying sign for Japan's economy as factory activity sinks | World Business Watch

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The government approved a new $708 billion stimulus package for the Japanese economy, including initiatives to promote digitalization and green energy.

<h2>More growth measures needed</h2>

Experts caution that additional difficulties could arise for the nation in the upcoming months as the pandemic continues to disturb global demand and supply systems. If there is an increase in cases in Japan during the forthcoming Olympic Games, which are scheduled to take place in Tokyo this summer, the issue could worsen.

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/kazuo-ueda-nominated-as-bank-of-japans-next-governor-561696">Kazuo Ueda nominated as Bank of Japan's next governor</a>

To stimulate the economy, the Bank of Japan has indicated that it will continue to pursue an accommodative monetary policy, including low-interest rates and purchasing government bonds. The central bank has initiated a review of its monetary policy framework in the current economic context, to ensure the efficacy of transmission.

The pandemic and the disruptions in the global supply chain continue to pose serious problems for Japan's manufacturing industry. The road to economic recovery is still lengthy and needs to be clarified, notwithstanding the government's stimulus package and the Bank of Japan's accommodative policies.

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Japan's manufacturing activity shrank at its fastest pace in two-and-a-half years in February, according to a business survey. The 'au Jibun Bank' flash Japan Manufacturing Purchasing Managers' Index (PMI), a leading economic indicator, fell to a seasonally adjusted 47.

Japan's manufacturing activity shrank at its fastest pace in two-and-a-half years in February, according to a business survey. The 'au Jibun Bank' flash Japan Manufacturing Purchasing Managers' Index (PMI), a leading economic indicator, fell to a seasonally adjusted 47.4 in February from a final 48.9 in the previous month. The methodology shows 50 divided growth from contraction. The latest contraction was attributed to the severe impact of the COVID-19 pandemic on global supply chains and manufacturing activity. The ongoing semiconductor chip shortage, which has affected the production of automobiles and electronic devices, has also contributed to the fall in Japan's PMI. Japan's shrinking manufacturing: What does it mean? The weak PMI reading highlights Japan's challenges in reviving its economy amid the pandemic. The country, meanwhile, has struggled to contain the virus, with new cases rising daily and the vaccination drive progressing slowly. The most recent PMI numbers also emphasise Japan's need to focus its efforts on economic recovery. ALSO WATCH | Worrying sign for Japan's economy as factory activity sinks | World Business Watch × The government approved a new $708 billion stimulus package for the Japanese economy, including initiatives to promote digitalization and green energy. More growth measures needed Experts caution that additional difficulties could arise for the nation in the upcoming months as the pandemic continues to disturb global demand and supply systems. If there is an increase in cases in Japan during the forthcoming Olympic Games, which are scheduled to take place in Tokyo this summer, the issue could worsen. ALSO READ | Kazuo Ueda nominated as Bank of Japan's next governor To stimulate the economy, the Bank of Japan has indicated that it will continue to pursue an accommodative monetary policy, including low-interest rates and purchasing government bonds. The central bank has initiated a review of its monetary policy framework in the current economic context, to ensure the efficacy of transmission. The pandemic and the disruptions in the global supply chain continue to pose serious problems for Japan's manufacturing industry. The road to economic recovery is still lengthy and needs to be clarified, notwithstanding the government's stimulus package and the Bank of Japan's accommodative policies. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Japan's factory activity shrinks at the fastest pace in over two years

Swedish multinational company Ericsson has decided to trim 1,400 jobs in Sweden with larger headcount loss in other countries. Not too long ago, big tech companies were hiring at an alarming rate during the pandemic, expecting greater demand for their tech offering. But in retrospect, that decision has backfired, given the massive layoffs in the past few months.

What triggered this cycle of layoffs? 
The pandemic pushed individuals to work remotely, given the norms of social distancing. It was a time when traditional outlets were severely impacted, and a massive transformation led to a digitalisation trend.

This transition resulted in a digital market boom, and companies saw massive incentives to invest in WEB 3.0 projects, Artificial intelligence (AI), 5G and more.

Watch: LinkedIn gains popularity amid mass layoffs

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Tech giants such as Google, Facebook and Instagram parent Meta, Twitter, Microsoft and many others thought investing in these new and lucrative technology projects was a good time.

Thousands were hired to fill those lofty ambitions in all these big firms.

But with things returning to normal post the pandemic, several impediments, including the global supply chain crisis, geopolitical conflicts, labour shortage, low demand and surging inflation, caused firms to re-evaluate their stance.

Ericsson's struggle to sustenance 
A magnitude of the latest job cuts at Ericsson comes after the company's previous experience of restructuring and cost cuts in 2017 when they were fighting to pull the company back from losses towards profitability.

The company plans to cut costs up to $880 million by the end of this year to save it from the hefty blow of slowing global demand, including in North America, a high-margin region.

The share of its 5G equipment hit a low, resulting in lower output in the fourth quarter, fuelling the company's decision to lower costs. The company has been negotiating with the employee's' union in Sweden for months as it devises a plan to cut costs.

Also read: <a href="https://www.wionews.com/business-economy/indias-tcs-no-layoffs-instead-salary-hikes-are-coming-564047">India's TCS: No Layoffs; instead, salary hikes are coming</a>

The company's Chief Financial Officer Carl Mellander said the plan is to take up cost-cutting measures by reducing consultants, real estate agents and the overall employee headcount. On this, the union and Ericsson have agreed to reduce the headcount through a voluntary program.

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Swedish multinational company Ericsson has decided to trim 1,400 jobs in Sweden with larger headcount loss in other countries. Not too long ago, big tech companies were hiring at an alarming rate during the pandemic, expecting greater demand for their tech offering.

Swedish multinational company Ericsson has decided to trim 1,400 jobs in Sweden with larger headcount loss in other countries. Not too long ago, big tech companies were hiring at an alarming rate during the pandemic, expecting greater demand for their tech offering. But in retrospect, that decision has backfired, given the massive layoffs in the past few months. What triggered this cycle of layoffs? The pandemic pushed individuals to work remotely, given the norms of social distancing. It was a time when traditional outlets were severely impacted, and a massive transformation led to a digitalisation trend. This transition resulted in a digital market boom, and companies saw massive incentives to invest in WEB 3.0 projects, Artificial intelligence (AI), 5G and more. Watch: LinkedIn gains popularity amid mass layoffs Tech giants such as Google, Facebook and Instagram parent Meta, Twitter, Microsoft and many others thought investing in these new and lucrative technology projects was a good time. Thousands were hired to fill those lofty ambitions in all these big firms. But with things returning to normal post the pandemic, several impediments, including the global supply chain crisis, geopolitical conflicts, labour shortage, low demand and surging inflation, caused firms to re-evaluate their stance. Ericsson's struggle to sustenance A magnitude of the latest job cuts at Ericsson comes after the company's previous experience of restructuring and cost cuts in 2017 when they were fighting to pull the company back from losses towards profitability. The company plans to cut costs up to $880 million by the end of this year to save it from the hefty blow of slowing global demand, including in North America, a high-margin region. The share of its 5G equipment hit a low, resulting in lower output in the fourth quarter, fuelling the company's decision to lower costs. The company has been negotiating with the employee's' union in Sweden for months as it devises a plan to cut costs. Also read: India's TCS: No Layoffs; instead, salary hikes are coming The company's Chief Financial Officer Carl Mellander said the plan is to take up cost-cutting measures by reducing consultants, real estate agents and the overall employee headcount. On this, the union and Ericsson have agreed to reduce the headcount through a voluntary program. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Ericsson plans to fire nearly 1,400 employees

In yet another sign of the rising status of India in the world, Tata Consultancy Services (TCS) has stated that it is not considering any job cuts despite layoffs at big tech firms and large companies. India's tech giant, TCS, the largest exporter of tech services in the country, is also eager to hire startup workers who have lost their jobs and said it believes in developing talent for longer careers after hiring an employee.

TCS chief human resources officer Milind Lakkad in a media interview, said, "we don't do that (job cuts); we believe in grooming talent in the company and (there will be) no layoffs".

He claimed that many businesses are now compelled to cut jobs to lower costs because they recruited more people than they intended.

TCS, which he described as "conservative," disagrees, contending that the employer must ensure that new hires are productive and add value.

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/indias-forex-reserves-mark-the-biggest-weekly-drop-in-11-months-563840">India's forex reserves mark the biggest weekly drop in 11 months</a>

Lakkad speaking to the Indian news agency PTI said when an employee's skill set falls short of what is needed, the company prioritises training the worker.

<h2>Salary hikes coming soon</h2>

The chief human resources officer said TCS, which has over 6 lakh employees, would soon announce salary hikes similar to previous years. That underscores the "India a bright spot" in an otherwise gloomy global economy backdrop comments from top institutions.

Indeed, TCS is looking at increasing employee benefits at a time when global firms are laying off thousands of employees.

The Indian tech giant also said it is looking at hiring employees laid off, especially in the US and startups the world over.

ALSO WATCH |&nbsp;LinkedIn gains popularity amid mass layoffs

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Lakkad said TCS is working on fascinating projects across various industries and technologies. He added that some extraordinary talent must join in on the action for those projects. But when asked about the decline of more than 2,000 staff in the December quarter, the HR head said it was a one-off case.

He did not clarify if there would be more additions or if the company would continue to groom their existing talent base.

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In yet another sign of the rising status of India in the world, Tata Consultancy Services (TCS) has stated that it is not considering any job cuts despite layoffs at big tech firms and large companies.

In yet another sign of the rising status of India in the world, Tata Consultancy Services (TCS) has stated that it is not considering any job cuts despite layoffs at big tech firms and large companies. India's tech giant, TCS, the largest exporter of tech services in the country, is also eager to hire startup workers who have lost their jobs and said it believes in developing talent for longer careers after hiring an employee. TCS chief human resources officer Milind Lakkad in a media interview, said, "we don't do that (job cuts); we believe in grooming talent in the company and (there will be) no layoffs". He claimed that many businesses are now compelled to cut jobs to lower costs because they recruited more people than they intended. TCS, which he described as "conservative," disagrees, contending that the employer must ensure that new hires are productive and add value. ALSO READ | India's forex reserves mark the biggest weekly drop in 11 months Lakkad speaking to the Indian news agency PTI said when an employee's skill set falls short of what is needed, the company prioritises training the worker. Salary hikes coming soon The chief human resources officer said TCS, which has over 6 lakh employees, would soon announce salary hikes similar to previous years. That underscores the "India a bright spot" in an otherwise gloomy global economy backdrop comments from top institutions. Indeed, TCS is looking at increasing employee benefits at a time when global firms are laying off thousands of employees. The Indian tech giant also said it is looking at hiring employees laid off, especially in the US and startups the world over. ALSO WATCH | LinkedIn gains popularity amid mass layoffs Lakkad said TCS is working on fascinating projects across various industries and technologies. He added that some extraordinary talent must join in on the action for those projects. But when asked about the decline of more than 2,000 staff in the December quarter, the HR head said it was a one-off case. He did not clarify if there would be more additions or if the company would continue to groom their existing talent base. WATCH WION LIVE HERE:

India's TCS: No Layoffs; instead, salary hikes are coming

Blue ticks have become synonymous with a status symbol in society. Thus, by following the footsteps of Twitter, meta has now come up with its very own verification system called "Meta Verified", which shall enable users to get verified on both Instagram and Facebook.

The model will allow users to get verified by Meta; if done, they will get a blue tick against their names, allowing users to get the hype they crave.

The subscription priced at $11.99 per month on the web against the $14.99 for iPhones and Android phones will ensure additional layers of security, protecting creators from impersonation, thereby safeguarding their privacy rights.

Meta has priced this model, considering the larger user base in India. It has tried to keep the balance between the premium fee of Netflix and the newly launched Twitter blue, which costs around $11 per month.

Meta has kept the verification process fairly simple; any user can get verified with government identification.

They will get a 'Meta Verified Badge', availing their exclusive access to customer service, enhanced visibility and reach on the platform, and many other exclusive features. However, there will be no limitation on ads in any case.

The CEO of meta, Mark Zuckerburg, has followed in the footsteps of Twitter; it was only after a reverse engineer spotted familiar code embedding this new feature that the company confirmed the news of it coming out.

Previously, Twitter launched a similar service back in November 2022, but it failed following the abuse of impersonating brands and celebrities.

Meta, however, has ensured this safety level by keeping an age limit of 18 years as a prerequisite for verification; a government ID, profile photo, and name are also required. That is not alone. This service will implement a proactive monitoring system to ensure the solid security of the platform.

Mark Zuckerburg was set to launch several other new products as he looked to "empower creators to be more productive and creative".

The service will first be introduced in Australia and New Zealand, post the subscription model will be rolled out to more countries.

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Blue ticks have become synonymous with a status symbol in society. Thus, by following the footsteps of Twitter, meta has now come up with its very own verification system called "Meta Verified", which shall enable users to get verified on both Instagram and Facebook.

Blue ticks have become synonymous with a status symbol in society. Thus, by following the footsteps of Twitter, meta has now come up with its very own verification system called "Meta Verified", which shall enable users to get verified on both Instagram and Facebook. The model will allow users to get verified by Meta; if done, they will get a blue tick against their names, allowing users to get the hype they crave. The subscription priced at $11.99 per month on the web against the $14.99 for iPhones and Android phones will ensure additional layers of security, protecting creators from impersonation, thereby safeguarding their privacy rights. Meta has priced this model, considering the larger user base in India. It has tried to keep the balance between the premium fee of Netflix and the newly launched Twitter blue, which costs around $11 per month. Meta has kept the verification process fairly simple; any user can get verified with government identification. They will get a 'Meta Verified Badge', availing their exclusive access to customer service, enhanced visibility and reach on the platform, and many other exclusive features. However, there will be no limitation on ads in any case. The CEO of meta, Mark Zuckerburg, has followed in the footsteps of Twitter; it was only after a reverse engineer spotted familiar code embedding this new feature that the company confirmed the news of it coming out. Previously, Twitter launched a similar service back in November 2022, but it failed following the abuse of impersonating brands and celebrities. Meta, however, has ensured this safety level by keeping an age limit of 18 years as a prerequisite for verification; a government ID, profile photo, and name are also required. That is not alone. This service will implement a proactive monitoring system to ensure the solid security of the platform. Mark Zuckerburg was set to launch several other new products as he looked to "empower creators to be more productive and creative". The service will first be introduced in Australia and New Zealand, post the subscription model will be rolled out to more countries. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Meta to launch its blue verified subscription service for Insta and Facebook

On January 28, a voluntary recall of 300,000 vanilla Frappuccino drinks was initiated based on a note by the US Food and Drug Administration (FDA). 
&nbsp; 
Following that, PepsiCo recalled more than 25,000 chilled coffee drink bottles based on the FDA&nbsp;recommendation. 
&nbsp; 
The recall issued in this case is known as the "Class 2 Recall", which means that if the product is maintained in the market, it can cause temporary or permanent health issues among customers. 
&nbsp; 
The issuance by the FDA is an outcome of the findings of glass pieces in the bottles; the fiasco could have caused serious harm. The bottles were then&nbsp;recalled, keeping in mind that customers had to be protected from any potential damage.

ALSO READ | <a href="https://www.wionews.com/trending/starbucks-taps-indian-born-laxman-narasimhan-as-its-next-ceo-twitter-erupts-with-memes-512454">Starbucks taps Indian-born Laxman Narasimhan as its next CEO, Twitter erupts with memes</a>

Why is PepsiCo coming into the picture? 
&nbsp; 
It was almost 20 years ago, almost in 1994, when the North American Coffee Partnership (NACP) was formed. The NACP amalgamated&nbsp;the coffee giant brand Starbucks and the beverage mogul PepsiCo. This joint venture allowed Starbucks to provide its coffee expertise while PepsiCo took care of its distribution.

This Joint Venture alone has a 97% market share in RTD coffee. 
&nbsp; 
However, the recent findings by the FDA have pushed back the outflow of their packaged bottles of Starbucks coffee, with further investigations being carried out to look into the problem.

As per reports, the batch containing the expiration dates of March 8th, May 29th, June 4th, and June 10th have been affected. Another report states that the distribution occurred in Arkansas, Arizona, Florida, Illinois, Indiana, Oklahoma, and Texas.

WATCH | Pepsico recalls over 25,000 cases of Starbucks Chilled Coffee

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In an official statement by the NACP, PepsiCo mentioned&nbsp;that the Frappuccino products have been removed from the market and are not being sold at retail stores of Starbucks. 
&nbsp; 
In September 2022, a similar case happened when foreign material, involving metal fragments, contaminated their Starbucks Vanilla Espresso Triple Shot beverage. 
&nbsp; 
PepsiCo has issued a landline number (1-800-211-8307) for consumers to resolve queries or doubts. The brand further communicates its intention of "Delivering a quality experience" to consumers that remains their "top priority" as they continue to act cautiously.

You can&nbsp;now write for wionews.com&nbsp;and be a part of the community. Share your stories and opinions with us&nbsp;<a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

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On January 28, a voluntary recall of 300,000 vanilla Frappuccino drinks was initiated based on a note by the US Food and Drug Administration (FDA). Following that, PepsiCo recalled more than 25,000 chilled coffee drink bottles based on the FDA recommendation.

On January 28, a voluntary recall of 300,000 vanilla Frappuccino drinks was initiated based on a note by the US Food and Drug Administration (FDA). Following that, PepsiCo recalled more than 25,000 chilled coffee drink bottles based on the FDA recommendation. The recall issued in this case is known as the "Class 2 Recall", which means that if the product is maintained in the market, it can cause temporary or permanent health issues among customers. The issuance by the FDA is an outcome of the findings of glass pieces in the bottles; the fiasco could have caused serious harm. The bottles were then recalled, keeping in mind that customers had to be protected from any potential damage. ALSO READ | Starbucks taps Indian-born Laxman Narasimhan as its next CEO, Twitter erupts with memes Why is PepsiCo coming into the picture? It was almost 20 years ago, almost in 1994, when the North American Coffee Partnership (NACP) was formed. The NACP amalgamated the coffee giant brand Starbucks and the beverage mogul PepsiCo. This joint venture allowed Starbucks to provide its coffee expertise while PepsiCo took care of its distribution. This Joint Venture alone has a 97% market share in RTD coffee. However, the recent findings by the FDA have pushed back the outflow of their packaged bottles of Starbucks coffee, with further investigations being carried out to look into the problem. As per reports, the batch containing the expiration dates of March 8th, May 29th, June 4th, and June 10th have been affected. Another report states that the distribution occurred in Arkansas, Arizona, Florida, Illinois, Indiana, Oklahoma, and Texas. WATCH | Pepsico recalls over 25,000 cases of Starbucks Chilled Coffee In an official statement by the NACP, PepsiCo mentioned that the Frappuccino products have been removed from the market and are not being sold at retail stores of Starbucks. In September 2022, a similar case happened when foreign material, involving metal fragments, contaminated their Starbucks Vanilla Espresso Triple Shot beverage. PepsiCo has issued a landline number (1-800-211-8307) for consumers to resolve queries or doubts. The brand further communicates its intention of "Delivering a quality experience" to consumers that remains their "top priority" as they continue to act cautiously. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Starbucks recalls 300,000 units of its infamous 'Vanilla Frappuccino'

India's foreign exchange reserves fell significantly to a one-month low of $566.94 billion in the week ending February 10, marking its biggest weekly decline in 11 months.

The country's import cover in the week prior had dropped by $1.49 billion to $575.27 billion, stalling a three-week rising streak, according to the Reserve Bank of India's weekly data.

The latest dip in FX reserves was due to the Indian central bank selling dollars to shore up the rupee in international markets and stabilise the domestic currency from extreme volatility.

That trend of the Indian central bank intervening in forex markets to defend the rupee has been a phenomenon over the past year.

But why is this important? What does the foreign exchange of a country signify?

Foreign Exchange Reserves are of crucial importance to the functioning of any economy.

They entail all the foreign assets owned by a country's central bank. Foreign assets generate income in foreign currency.

They are stored in the form of gold or cash and are used to maintain the balance of payment and to maintain the country's financial market stability.

In October 2021, India's forex kitty hit an all-time high of $645 billion; however, the trend has reversed and declined as the Indian rupee fell significantly against the US dollar.

According to the RBI data, India's Foreign Currency Assets (FCS) have also fallen by $7.11 billion to $500.59 billion in the latest week.

The FCA differs from the reserves since it considers the effect of appreciation or depreciation of non-U.S. units such as yen, pounds, and euro.

Apart from that, India's Gold Reserves have fallen by $919 million, taking the bullion reserves to $42.86 billion. &nbsp;

The collective trend over the past year aptly showcases the drop in the rupee against the dollar.

The rupee's dramatic fall

The value of the domestic currency declined for the fourth straight week but did not weaken beyond its record low of a touch over 83 per dollar, which would have likely triggered a response by the RBI.

However, despite all the chaos, the Indian rupee has remained relatively stable compared to its Asian peers.

The RBI Governor said that the volatility in the rupee is better than seen in the past, with India's forex reserves in a comfortable position, despite the fall over the past year.

The broader sell-off of most major global currencies in favour of the dollar has hurt the forex reserves of almost every emerging market country, pushing some into a historic economic crisis.

That trend for increased interest in dollar-denominated assets intensified after Russia invaded Ukraine almost a year ago.

The Indian rupee has not been an exception.

The Indian currency fell to multiple record lows and hovered around 83 per dollar from about 74 per dollar before the war on the edge of Europe started in February last year.

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India's foreign exchange reserves fell significantly to a one-month low of $566.94 billion in the week ending February 10, marking its biggest weekly decline in 11 months.

India's foreign exchange reserves fell significantly to a one-month low of $566.94 billion in the week ending February 10, marking its biggest weekly decline in 11 months. The country's import cover in the week prior had dropped by $1.49 billion to $575.27 billion, stalling a three-week rising streak, according to the Reserve Bank of India's weekly data. The latest dip in FX reserves was due to the Indian central bank selling dollars to shore up the rupee in international markets and stabilise the domestic currency from extreme volatility. That trend of the Indian central bank intervening in forex markets to defend the rupee has been a phenomenon over the past year. But why is this important? What does the foreign exchange of a country signify? Foreign Exchange Reserves are of crucial importance to the functioning of any economy. They entail all the foreign assets owned by a country's central bank. Foreign assets generate income in foreign currency. They are stored in the form of gold or cash and are used to maintain the balance of payment and to maintain the country's financial market stability. In October 2021, India's forex kitty hit an all-time high of $645 billion; however, the trend has reversed and declined as the Indian rupee fell significantly against the US dollar. According to the RBI data, India's Foreign Currency Assets (FCS) have also fallen by $7.11 billion to $500.59 billion in the latest week. The FCA differs from the reserves since it considers the effect of appreciation or depreciation of non-U.S. units such as yen, pounds, and euro. Apart from that, India's Gold Reserves have fallen by $919 million, taking the bullion reserves to $42.86 billion. The collective trend over the past year aptly showcases the drop in the rupee against the dollar. The rupee's dramatic fall The value of the domestic currency declined for the fourth straight week but did not weaken beyond its record low of a touch over 83 per dollar, which would have likely triggered a response by the RBI. However, despite all the chaos, the Indian rupee has remained relatively stable compared to its Asian peers. The RBI Governor said that the volatility in the rupee is better than seen in the past, with India's forex reserves in a comfortable position, despite the fall over the past year. The broader sell-off of most major global currencies in favour of the dollar has hurt the forex reserves of almost every emerging market country, pushing some into a historic economic crisis. That trend for increased interest in dollar-denominated assets intensified after Russia invaded Ukraine almost a year ago. The Indian rupee has not been an exception. The Indian currency fell to multiple record lows and hovered around 83 per dollar from about 74 per dollar before the war on the edge of Europe started in February last year. WATCH WION LIVE HERE

India's forex reserves mark the biggest weekly drop in 11 months

Egypt is running out of dollars and is attempting to bolster its finances by selling state assets to rich Gulf countries, showed a media report.&nbsp;That despite a $3 billion rescue loan from the International Monetary Fund (IMF). Calling the latest funding attempt a win-win for all parties, experts claim the new deal will call for long-term structural improvements rather than the unconditional rescue deals from the past.

IMF had warned that Egypt would face a financing gap of around $17 billion over the next four years, and Cairo expects the plan to sell state assets will help reduce the deficit. The deal offers a quick way for countries like Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates to acquire properties, land, and holdings in state companies in Egypt.

With those countries seeking to diversify beyond their oil and gas-based economies, Cairo's offer is lucrative, especially as the Egyptian pound has taken a beating. A weaker currency makes investment cheaper for a foreign entity.

The war on the edge of Europe, the Russia-Ukraine crisis, pushed global investors to shelter into safe-haven dollar-denominated assets and hurt almost every other currency on the other side of the exchange rate. The Egyptian pound was no exception to the surging dollar bets.

Egypt has become an appealing investment destination for Gulf countries due to a sharp devaluation of its currency and lucrative offers provided by President Abdel Fattah al-Sisi. The North African country has traditionally been an import-dependent economy, and the steep fall in its currency, almost half the value lost against the dollar in less than a year, has cut the country's foreign exchange coffer by 20 per cent since February last year.

Over 80 per cent of the country's forex reserves of $34.2 billion are comprised of deposits from wealthy Gulf affiliates. The nation's foreign debt has more than tripled to $155 billion in the last ten years.

According to a media report, President Abdel Fattah al-Sisi at the World Government Summit in Dubai said, "a country like Egypt needs a trillion-dollar budget each year. Do we have that money? No. Do we have half of it? No. Do we have a quarter of it? No." Sisi acknowledged the "support from friends, the UAE, Saudi Arabia, and Kuwait."

But this time, Gulf nations have warned that Cairo cannot get the aid without conditions anymore, and there needs to be more transparency and long-term structural reforms.

Indeed, Saudi Arabia's finance minister Mohammed al-Jaadan has cautioned the days of restriction-free assistance are finished.

"We used to give direct grants and deposits without strings attached, and we are changing that," Jaadan said at Davos in January, explaining the kingdom will be demanding "to see reforms".

The IMF, too, had laid down stringent conditions, including Egypt opening up its economy and increasing the private sector's share to 65 per cent from the current 30 per cent by 2025.

Egypt, for its part, has tried to establish the new order. According to calculations by the Egyptian business weekly outlet Enterprise, 66 mergers and acquisitions were finalised in Egypt in 2022, more than double the number of deals executed in 2021. The majority of those were military deals. Emirati and Saudi firms had most of the stakes in 40 military deals.

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Egypt is running out of dollars and is attempting to bolster its finances by selling state assets to rich Gulf countries, showed a media report. That despite a $3 billion rescue loan from the International Monetary Fund (IMF).

Egypt is running out of dollars and is attempting to bolster its finances by selling state assets to rich Gulf countries, showed a media report. That despite a $3 billion rescue loan from the International Monetary Fund (IMF). Calling the latest funding attempt a win-win for all parties, experts claim the new deal will call for long-term structural improvements rather than the unconditional rescue deals from the past. IMF had warned that Egypt would face a financing gap of around $17 billion over the next four years, and Cairo expects the plan to sell state assets will help reduce the deficit. The deal offers a quick way for countries like Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates to acquire properties, land, and holdings in state companies in Egypt. With those countries seeking to diversify beyond their oil and gas-based economies, Cairo's offer is lucrative, especially as the Egyptian pound has taken a beating. A weaker currency makes investment cheaper for a foreign entity. The war on the edge of Europe, the Russia-Ukraine crisis, pushed global investors to shelter into safe-haven dollar-denominated assets and hurt almost every other currency on the other side of the exchange rate. The Egyptian pound was no exception to the surging dollar bets. Egypt has become an appealing investment destination for Gulf countries due to a sharp devaluation of its currency and lucrative offers provided by President Abdel Fattah al-Sisi. The North African country has traditionally been an import-dependent economy, and the steep fall in its currency, almost half the value lost against the dollar in less than a year, has cut the country's foreign exchange coffer by 20 per cent since February last year. Over 80 per cent of the country's forex reserves of $34.2 billion are comprised of deposits from wealthy Gulf affiliates. The nation's foreign debt has more than tripled to $155 billion in the last ten years. According to a media report, President Abdel Fattah al-Sisi at the World Government Summit in Dubai said, "a country like Egypt needs a trillion-dollar budget each year. Do we have that money? No. Do we have half of it? No. Do we have a quarter of it? No." Sisi acknowledged the "support from friends, the UAE, Saudi Arabia, and Kuwait." But this time, Gulf nations have warned that Cairo cannot get the aid without conditions anymore, and there needs to be more transparency and long-term structural reforms. Indeed, Saudi Arabia's finance minister Mohammed al-Jaadan has cautioned the days of restriction-free assistance are finished. "We used to give direct grants and deposits without strings attached, and we are changing that," Jaadan said at Davos in January, explaining the kingdom will be demanding "to see reforms". The IMF, too, had laid down stringent conditions, including Egypt opening up its economy and increasing the private sector's share to 65 per cent from the current 30 per cent by 2025. Egypt, for its part, has tried to establish the new order. According to calculations by the Egyptian business weekly outlet Enterprise, 66 mergers and acquisitions were finalised in Egypt in 2022, more than double the number of deals executed in 2021. The majority of those were military deals. Emirati and Saudi firms had most of the stakes in 40 military deals. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Dollar-strapped Egypt resorts to selling state assets to Gulf nations

Artificial intelligence (AI) has been the hot keyword in recent months.

Since its inception in the form of ChatGPT and various other Chatbot AI, the global race, which has just begun, is soon expected to get crowded.

Now, South Korea aims to take the baton of manufacturing chips for the booming AI industry.

<a href="https://www.wionews.com/trending/ai-that-learns-without-human-input-scientists-make-a-stunning-discovery-561776">Also read |&nbsp;AI that learns without human input? Scientists make a STUNNING discovery</a>

Recently, a South Korea-based startup, Rebellions.AI, launched its own chips and is set to win South Korean government contracts.

Currently, the market is dominated by the US-based chip designer Nvidia, with a weighted share of about 86 per cent&nbsp;in the power supply for a few of the world's biggest cloud services.

Rebellion.AI's recent launch, called the atom chip, is fast emerging as a strong competitor as the firm aims for the tag of being the largest AI-supporting chip manufacturer.

What makes this competition so intense?

The growth in the number of users of AI technology is unprecedented.

The users of ChatGPT rose to around 100 million in just 2 months after its launch, setting a new record for the fastest user growth.

Even Google rushed to tap into this market through its very own chatbot called "Bard", hinting at an AI boom.

Leading the race to manufacture AI-supporting chips will be a good win for any company.

<a href="https://www.wionews.com/world/south-korean-interior-minister-suspended-over-last-years-halloween-crowd-crush-560015">Also read |&nbsp;South Korean interior minister suspended over last year’s Halloween crowd crush</a>

Currently, Nvidia dominates the market. But South Korea is joining the race to penetrate and become the market leader.

Companies worldwide aim to secure government backing to produce a growing demand for AI.

South Korea wishes to foster a domestic industry, with a solid investment of nearly $800 million over the next five years, to lift the Korean AI chip market share from 0 to 80 per cent&nbsp;by 2030.

The chip by Rebellion.AI consumes only 20 per cent&nbsp;power compared to what Nvidia a100 chips consume, which specialises in Chatbot AI applications.

As countries such as Japan, Germany, the United States, Taiwan, and China aim to support their interest in diversifying by providing funding to the semiconductor industry, South Korea remains strong on securing a separate designation aimed at making it a global manufacturer.

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Artificial intelligence (AI) has been the hot keyword in recent months. Since its inception in the form of ChatGPT and various other Chatbot AI, the global race, which has just begun, is soon expected to get crowded.

Artificial intelligence (AI) has been the hot keyword in recent months. Since its inception in the form of ChatGPT and various other Chatbot AI, the global race, which has just begun, is soon expected to get crowded. Now, South Korea aims to take the baton of manufacturing chips for the booming AI industry. Also read | AI that learns without human input? Scientists make a STUNNING discovery Recently, a South Korea-based startup, Rebellions.AI, launched its own chips and is set to win South Korean government contracts. Currently, the market is dominated by the US-based chip designer Nvidia, with a weighted share of about 86 per cent in the power supply for a few of the world's biggest cloud services. Rebellion.AI's recent launch, called the atom chip, is fast emerging as a strong competitor as the firm aims for the tag of being the largest AI-supporting chip manufacturer. What makes this competition so intense? The growth in the number of users of AI technology is unprecedented. The users of ChatGPT rose to around 100 million in just 2 months after its launch, setting a new record for the fastest user growth. Even Google rushed to tap into this market through its very own chatbot called "Bard", hinting at an AI boom. Leading the race to manufacture AI-supporting chips will be a good win for any company. Also read | South Korean interior minister suspended over last year’s Halloween crowd crush Currently, Nvidia dominates the market. But South Korea is joining the race to penetrate and become the market leader. Companies worldwide aim to secure government backing to produce a growing demand for AI. South Korea wishes to foster a domestic industry, with a solid investment of nearly $800 million over the next five years, to lift the Korean AI chip market share from 0 to 80 per cent by 2030. The chip by Rebellion.AI consumes only 20 per cent power compared to what Nvidia a100 chips consume, which specialises in Chatbot AI applications. As countries such as Japan, Germany, the United States, Taiwan, and China aim to support their interest in diversifying by providing funding to the semiconductor industry, South Korea remains strong on securing a separate designation aimed at making it a global manufacturer. WATCH WION LIVE HERE

South Korea joins the AI race; aims to become a global leader

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