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Apple has its next big money-making idea. It is not the next generation, glass-ceiling breaker iPhone, MacBook or even an Apple smartwatch. It's advertising. Reportedly, Apple is looking to add more advertisements to its first-party apps that come pre-installed on iPhone.

Apple has its next big money-making idea. It is not the next generation, glass-ceiling breaker iPhone, MacBook or even an Apple smartwatch. It's advertising. Reportedly, Apple is looking to add more advertisements to its first-party apps that come pre-installed on iPhone. According to tech reports, Apple has already internally tested the ads on its Maps, Books and Podcasts. Currently, Apple allows app developers to advertise their apps on the App Store. Moreover, ads are displayed in Apple News and Stocks. It is pertinent to note that last year, Apple rolled out its new privacy policy called 'App Tracking Transparency' that required the apps on its platform to ask for users' permission to track their activity and share it with third parties. Read More: Apple sets deadline for employees to be in the office at least three days a week Succinctly put, Apple disrupted the entire 'personalised advertising' market as business houses had to reconsider their strategies. However, Apple remained unscathed and on the contrary, its advertising business grew 238 per cent to $3.7 billion in 2021. Thus it appears a tad ironic that by adding more ads in the iPhone apps, Apple wants to take this number into the double digits. It's not all that. Apple is also looking to maximise the earning potential of its streaming platform Apple TV Plus. Reportedly, taking a cue out of Dinsey+ and Netflix's book, Apple is willing to experiment with a lower-priced ad-supported subscription plan. Both Disney+ and Netflix are expected to roll out the said tiers by the end of the year. Analysts believe that Apple is in the early stages of developing its own new mobile advertising platform. The uptick in recruitment drive suggests that efforts were ongoing to create a profitable ad platform. Apple and its bumper quarter As reported by WION, last month Apple announced that its June quarter revenue stood at a record $83 billion, up two per cent YoY. Apple also announced that it expected to pay a dividend of $0.3 per share to its shareholders. “This quarter’s record results speak of Apple’s constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers." Tim Cook was quoted as saying. Read More: Apple and Amazon post impressive numbers amid an economic slowdown (With inputs from agencies) WATCH WION LIVE HERE:

Apple's next big money-making idea: More ads in iPhones

The UK's leader of opposition Keir Starmer has released labour's plans to deal with rising inflation and soaring energy prices. The labour leader said that the families will not have to pay a penny more under his party's plan to tackle the ongoing economic crisis.

'Can control inflation by freezing energy bills,' Keir Starmer details energy price cap plan

South Korea, the Asian economy is competing with Japan in the list of nations that are facing a massive labour crunch and putting older workers back into factories is the only option now.

South Korea's foreign labour crunch, older workers back in factories

A recovery in global business travel spending to pre-pandemic levels is likely to be delayed by 18 months to 2026 because of factors like inflation, high energy prices, labour shortages and lockdowns in China.

Inflation, labour shortages to delay recovery in business travel spending

Venezuela's inflation slowed to 7.5% month-over-month in July, from 11.4% recorded in June, according to data released on Monday by the country's central bank.

Venezuela inflation slows to 7.5% in July

India is steering itself towards a battery-operated automobile revolution. Ola has also announced a new electric scooter it's called the S1, it's a cheaper alternative to the S1 Pro.

Ola driving green mobility in India, launches new electric vehicles

From Tencent Holdings Ltd. to ByteDance Ltd., China's internet behemoths have revealed details of their treasured algorithms to Beijing for the first time, an extraordinary move aimed at curtailing data misuse that may jeopardise highly guarded company secrets.

The internet watchdog issued a report on Friday listing 30 algorithms used by companies such as Alibaba Group Holding Ltd. and Meituan to collect data on users, make personal recommendations, and offer up content. While the public list did not expose the actual code, it remained unclear how much information internet companies may have supplied to authorities in private.

Many online businesses believe the algorithms that determine which TikTok videos, WeChat posts, and Instagram photographs users see to be the secret sauce, important in catching user attention and driving development.&nbsp;

China implemented legislation in March requiring internet businesses to disclose such tools, in an effort to address complaints about data exploitation while also assisting regulators in keeping internet corporations on a leash.

Algorithms in the IT sector are carefully guarded and have been at the centre of political issues all around the world.&nbsp;

That disclosure requirement distinguishes China from countries such as the United States, where companies such as Meta Platforms Inc. and Alphabet Inc. have successfully argued that algorithms are trade secrets, even as lawmakers and activists seek to better understand how they curate content and manage data.

The Chinese Cyberspace Administration now demands just basic information from corporations, but it may seek additional specifics to investigate complaints of data abuses, according to Zhai. According to Ding Mengdan, a lawyer at Beijing Yingke law firm's Hangzhou branch, the publication of the list indicates that the implementation process is proceeding successfully.

China has tightened laws to limit the once-unchecked growth of the country's digital behemoths. Last year, the government passed the Personal Information Protection Law and the Data Security Law, which established stricter guidelines for how businesses manage user data.

The list of algorithms available for public review is limited to brief descriptions of how they work as well as the products and use cases to which they apply. ByteDance, for example, claims that their algorithm uses a user's likes and dislikes to promote content on applications such as Douyin, TikTok's Chinese cousin. According to Meituan, its algorithms assist in dispatching food orders to riders in the most effective manner depending on their downtime and delivery route.

According to the laws, companies must also give non-public information to the CAC, including a self-assessment of the algorithms' security, the data they gather, if any sensitive biometric or identity information is included, and what data sources are utilised to train algorithms.

(With inputs from agencies)&nbsp; 
&nbsp;

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From Tencent Holdings Ltd. to ByteDance Ltd., China's internet behemoths have revealed details of their treasured algorithms to Beijing for the first time, an extraordinary move aimed at curtailing data misuse that may jeopardise highly guarded company secrets.

From Tencent Holdings Ltd. to ByteDance Ltd., China's internet behemoths have revealed details of their treasured algorithms to Beijing for the first time, an extraordinary move aimed at curtailing data misuse that may jeopardise highly guarded company secrets. The internet watchdog issued a report on Friday listing 30 algorithms used by companies such as Alibaba Group Holding Ltd. and Meituan to collect data on users, make personal recommendations, and offer up content. While the public list did not expose the actual code, it remained unclear how much information internet companies may have supplied to authorities in private. Many online businesses believe the algorithms that determine which TikTok videos, WeChat posts, and Instagram photographs users see to be the secret sauce, important in catching user attention and driving development. China implemented legislation in March requiring internet businesses to disclose such tools, in an effort to address complaints about data exploitation while also assisting regulators in keeping internet corporations on a leash. Algorithms in the IT sector are carefully guarded and have been at the centre of political issues all around the world. That disclosure requirement distinguishes China from countries such as the United States, where companies such as Meta Platforms Inc. and Alphabet Inc. have successfully argued that algorithms are trade secrets, even as lawmakers and activists seek to better understand how they curate content and manage data. The Chinese Cyberspace Administration now demands just basic information from corporations, but it may seek additional specifics to investigate complaints of data abuses, according to Zhai. According to Ding Mengdan, a lawyer at Beijing Yingke law firm's Hangzhou branch, the publication of the list indicates that the implementation process is proceeding successfully. China has tightened laws to limit the once-unchecked growth of the country's digital behemoths. Last year, the government passed the Personal Information Protection Law and the Data Security Law, which established stricter guidelines for how businesses manage user data. The list of algorithms available for public review is limited to brief descriptions of how they work as well as the products and use cases to which they apply. ByteDance, for example, claims that their algorithm uses a user's likes and dislikes to promote content on applications such as Douyin, TikTok's Chinese cousin. According to Meituan, its algorithms assist in dispatching food orders to riders in the most effective manner depending on their downtime and delivery route. According to the laws, companies must also give non-public information to the CAC, including a self-assessment of the algorithms' security, the data they gather, if any sensitive biometric or identity information is included, and what data sources are utilised to train algorithms. (With inputs from agencies) 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.

Alibaba, ByteDance share top secret algorithms to Chinese government for first time

Apple on Monday informed that its employees will be expected to return to the office three days per week from next month, September 5, to be precise. Reportedly, Apple CEO Tim Cook sent out the mail, informing about the changes that the upper hierarchy was implementing in the coming days.

Apple on Monday informed that its employees will be expected to return to the office three days per week from next month, September 5, to be precise. Reportedly, Apple CEO Tim Cook sent out the mail, informing about the changes that the upper hierarchy was implementing in the coming days. Currently, Apple employees have been working from their offices, twice a week. However, with the new rules coming in, all employees in Bay Area will have to report to the office on Tuesday and Thursday compulsorily. The third day will be picked or decided based on individual teams. Meanwhile, the option of working from home will be applicable for two days only. "Teams participating in the pilot will come to the office three days each week with Tuesday and Thursday as set days across the company, but now the third day you come in will be decided by your teams." said Cook in a memo sent to his employees. "In terms of timing, many locations around the world are in different phases and you will hear more details shortly. For Santa Clara Valley, we plan to begin our new adjusted pilot with all employees in the office three days beginning the week of September 5th." added the Apple boss. It is pertinent to note that Apple attempted to implement its pilot programme a year ago. The employees were expected to return to the offices in May. However, the rise in Covid cases delayed the process. Read More: Apple and Amazon post impressive numbers amid an economic slowdown Apple's culture heavily depends on employees working together and creating new products. The company has relied on in-person meetings, demos and the physical touch to shape its products; something which was missing in the last couple of years. By recalling its employees to the office, Apple appears to be reaffirming its faith in the office culture, albeit with a hybrid twist. Apple’s head of software, Craig Federighi built on Cook's mail and added that Septemeb will mark the true start of Apple's next hybrid chapter. "Needless to say, this next phase is a pilot, so the one thing of which we can be assured is that we’ll learn a great deal in the months to come. I’m excited for this next chapter and all that lies ahead." he signed off by saying. (With inputs from agencies) WATCH WION LIVE HERE:

Apple sets deadline for employees to be in the office at least three days a week

The Indian government plans to examine the exemption-free new tax regime shortly in order to make it more appealing to individual income taxpayers, according to Indian news agency PTI.

According to insiders, the administration eventually intends to implement a system with no exemptions, and the complicated old tax regime with exemptions and deductions would be phased out.

Tax exemptions in India are categorised based on the type of income. Agricultural income, pensions, allowances, and other forms of income are not included. Deduction of Tax at Source is another possibility.

A tax exemption is a financial exclusion that reduces taxable income. You may be excluded from paying taxes totally, at reduced rates, or solely on a portion of your earnings. Rather than the absence of taxation in specific cases, tax exemption is a statutory exception to a general rule. Tax credits are given to encourage certain economic activities.

A new tax structure was implemented in the Union Budget 2020-21. Taxpayers were given the choice of choosing between the previous system, which had different deductions and exemptions, and the new regime, which included reduced tax rates but no exemptions or deductions.

The goal of the change was to give considerable assistance to individual taxpayers while also simplifying income-tax legislation.

When asked about the new tax regime's experience, sources indicated there are obvious evidence that those who have completed their house and education loans are eager to switch to the new tax system because they have no exemptions to claim.

According to sources, cutting taxes in the new regime would make the new tax regime more appealing.

In September 2019, a comparable tax structure for business taxpayers was implemented, with much lower rates and fewer exemptions.

The government announced a reduction in the base corporation tax rate for current companies to 22% from 30%, and for new manufacturing enterprises formed after October 1, 2019, and beginning operations before March 31, 2024, to 15% from 25%. Companies that choose these higher tax rates must sacrifice all exemptions and incentives.

Under the new tax regime for individual taxpayers announced on February 1, 2020, people with an annual income of up to Rs 2,50,000 do not pay any tax.

The tax rate is 5 per cent for income between Rs 2,50,000 and Rs 5,00,000.

Furthermore, those earning between Rs 5,00000 and Rs 7,50000 pay a 10% tax rate; those earning between Rs 7,50000 and Rs 10,00000 pay a 15% tax rate; those earning between Rs 10,00000 and Rs 12,50000 pay a 20% tax rate; those earning between Rs 12,50000 and Rs 1500000 pay a 25% tax rate; and those earning above Rs 1500000 pay a 30% tax rate. 
&nbsp;

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The Indian government plans to examine the exemption-free new tax regime shortly in order to make it more appealing to individual income taxpayers, according to Indian news agency PTI.

The Indian government plans to examine the exemption-free new tax regime shortly in order to make it more appealing to individual income taxpayers, according to Indian news agency PTI. According to insiders, the administration eventually intends to implement a system with no exemptions, and the complicated old tax regime with exemptions and deductions would be phased out. Tax exemptions in India are categorised based on the type of income. Agricultural income, pensions, allowances, and other forms of income are not included. Deduction of Tax at Source is another possibility. A tax exemption is a financial exclusion that reduces taxable income. You may be excluded from paying taxes totally, at reduced rates, or solely on a portion of your earnings. Rather than the absence of taxation in specific cases, tax exemption is a statutory exception to a general rule. Tax credits are given to encourage certain economic activities. A new tax structure was implemented in the Union Budget 2020-21. Taxpayers were given the choice of choosing between the previous system, which had different deductions and exemptions, and the new regime, which included reduced tax rates but no exemptions or deductions. The goal of the change was to give considerable assistance to individual taxpayers while also simplifying income-tax legislation. When asked about the new tax regime's experience, sources indicated there are obvious evidence that those who have completed their house and education loans are eager to switch to the new tax system because they have no exemptions to claim. According to sources, cutting taxes in the new regime would make the new tax regime more appealing. In September 2019, a comparable tax structure for business taxpayers was implemented, with much lower rates and fewer exemptions. The government announced a reduction in the base corporation tax rate for current companies to 22% from 30%, and for new manufacturing enterprises formed after October 1, 2019, and beginning operations before March 31, 2024, to 15% from 25%. Companies that choose these higher tax rates must sacrifice all exemptions and incentives. Under the new tax regime for individual taxpayers announced on February 1, 2020, people with an annual income of up to Rs 2,50,000 do not pay any tax. The tax rate is 5 per cent for income between Rs 2,50,000 and Rs 5,00,000. Furthermore, those earning between Rs 5,00000 and Rs 7,50000 pay a 10% tax rate; those earning between Rs 7,50000 and Rs 10,00000 pay a 15% tax rate; those earning between Rs 10,00000 and Rs 12,50000 pay a 20% tax rate; those earning between Rs 12,50000 and Rs 1500000 pay a 25% tax rate; and those earning above Rs 1500000 pay a 30% tax rate. 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.

Income Tax alert: India plans to review exemption-free tax regime

As pandemic curbs are slowly eased and more and more countries resume travel, the tourism dependent economies are seeing a sharp recovery in economic growth. Thailand's economy likely grew at its fastest space in a year last quarter.

Thailand's tourism boosts, receives 1.07 million foreign tourists in July

South Korea's President Yoon Suk-yeol pardoned Samsung Electronics Vice Chairman Jay Y. Lee on Friday, with South Korea's Justice Ministry saying the business leader was needed to help overcome a "national economic crisis".

South Korean President pardons Samsung leader Lee

China's auto sales surged 29.7% in July from a year earlier to 2.42 million units, extending a recovery that began in June with the help of eased COVID curbs and government incentives.

China's auto sales extend recovery, surged 29.7% in July

On Friday, the Japanese yen experienced the biggest decline against a strengthening U.S. dollar as a two-day rise in stocks acknowledged market expectations that the Fed will need to take additional action to keep inflation under control. That realization came after a number of Federal Reserve officials cautioned investors not to be overconfident following this week's minor easing in inflation numbers in speeches and statements.

The most recent example was San Francisco Fed President Mary Daly, who stated on Thursday that a rate increase of 50 basis points in September "makes sense" in light of recent economic data, especially data on inflation, but she is willing to raise the rate if necessary.

Thursday saw a decline in the Nasdaq and S&amp;P 500 amid further indications of slowing inflation. The euro fell to $1.0311 while the dollar index increased by 0.1% to 105.210. The Japanese yen lost 0.12% to 133.19 per dollar, and the last known price of sterling was $1.2184, down 0.23% from the previous day. The euro increased 0.05% to 137.340 yen. Even the New Zealand dollar, which is expected to have a significant rate increase next week, decreased 0.16% to $0.643 against the US dollar.

According to data released on Thursday, U.S. producer prices (PPI) unexpectedly declined in July due to a decrease in the price of energy items. That came after the shocking report on Wednesday that the consumer price index (CPI) was unchanged in July as a result of a decline in gasoline costs.

Also Read:<a href="https://www.wionews.com/photos/in-pics-trump-supporters-gather-outside-his-mar-a-lago-estate-say-fbi-raid-witch-hunt-505424">&nbsp;IN PICS | Trump supporters gather outside his Mar-a-Lago estate, say FBI raid a 'witch hunt'</a>

While such information sparked a brief relief bounce in markets concerned about the Fed's accelerated tightening course, it was fleeting. The tech-heavy Nasdaq has just recovered from mid-June lows, but it is still down nearly 18% for the year. Along with the 225 basis points of Fed rate increases since March, the dollar index has continued to strengthen, up 10% so far this year. From Wednesday's top of 135.30 against the yen, it had dropped as low as 131.74 overnight, a one-week low. On Friday, it was back at 133.245.

(with inputs from agencies) 
&nbsp;

On Friday, the Japanese yen experienced the biggest decline against a strengthening U.S. dollar as a two-day rise in stocks acknowledged market expectations that the Fed will need to take additional action to keep inflation under control.

On Friday, the Japanese yen experienced the biggest decline against a strengthening U.S. dollar as a two-day rise in stocks acknowledged market expectations that the Fed will need to take additional action to keep inflation under control. That realization came after a number of Federal Reserve officials cautioned investors not to be overconfident following this week's minor easing in inflation numbers in speeches and statements. The most recent example was San Francisco Fed President Mary Daly, who stated on Thursday that a rate increase of 50 basis points in September "makes sense" in light of recent economic data, especially data on inflation, but she is willing to raise the rate if necessary. Thursday saw a decline in the Nasdaq and S&P 500 amid further indications of slowing inflation. The euro fell to $1.0311 while the dollar index increased by 0.1% to 105.210. The Japanese yen lost 0.12% to 133.19 per dollar, and the last known price of sterling was $1.2184, down 0.23% from the previous day. The euro increased 0.05% to 137.340 yen. Even the New Zealand dollar, which is expected to have a significant rate increase next week, decreased 0.16% to $0.643 against the US dollar. According to data released on Thursday, U.S. producer prices (PPI) unexpectedly declined in July due to a decrease in the price of energy items. That came after the shocking report on Wednesday that the consumer price index (CPI) was unchanged in July as a result of a decline in gasoline costs. Also Read: IN PICS | Trump supporters gather outside his Mar-a-Lago estate, say FBI raid a 'witch hunt' While such information sparked a brief relief bounce in markets concerned about the Fed's accelerated tightening course, it was fleeting. The tech-heavy Nasdaq has just recovered from mid-June lows, but it is still down nearly 18% for the year. Along with the 225 basis points of Fed rate increases since March, the dollar index has continued to strengthen, up 10% so far this year. From Wednesday's top of 135.30 against the yen, it had dropped as low as 131.74 overnight, a one-week low. On Friday, it was back at 133.245. (with inputs from agencies)

Japanese yen weakens against dollar fearing Fed's super-charged tightening policy

Johnson & Johnson will stop selling talc-based baby powder globally in 2023, the drug maker said on Thursday, more than two years after it ended US sales of a product that drew thousands of consumer safety lawsuits.

Johnson & Johnson to end global sales of controversial talc-based baby powder

Rent in the city that never sleeps is seeing a staggering jump in the post-Covid market. With the economy still dealing with the after-effects of the pandemic, in New York, rent has seen a significant jump.

A Reuters article reports that Gerri Weinberger received a notice of a rent increase from $1,833 to $2,500 for her upper east side studio apartment in New York City. &nbsp;In spite of her attempts to negotiate the rent, Gerri will now have to move out of her Manhattan apartment and shift to Jersey City, where the rent is a little bit more affordable.

Watch |&nbsp;US inflation slows from 40-year peak, consumer prices ease to 8.5%

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She told Reuters that when she tried to negotiate her landlord said "this is the market price," said Weinberger.&nbsp;

"They said, you know, rents have gone up 40 per cent even in Brooklyn and in even Harlem, all these places. So, that there was nothing I could do. And if I had to leave, then, oh, well, because they have other people who want to live here."

Also read |&nbsp;<a href="https://www.wionews.com/entertainment-news/dinsey-gains-144-million-subscribers-in-q3-hits-the-1521-million-mark-505751" hreflang="en">Beating Netflix: Dinsey+ gains 14.4 million subscribers in Q3, hits the 152.1 million mark</a>

Kenny Lee, an economist at StreetEasy says "A lot of renters are being priced out of their own home as the landlords seek to reverse the deals they offered during 2020 and 2021," adding that renters should expect further hikes at least through this summer.

"I think New York City has seen a later comeback compared to the rest of the United States. The rent price increases in New York City have not really peaked yet, and given how low the current inventory is for the rental market, I think the rents should continue to increase at least a few more months through the end of summer, or perhaps into early fall," predicts Lee.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/amazon-staff-in-essex-walk-out-over-measly-hike-refuse-to-return-to-work-503854" hreflang="en">Amazon staff in Essex walk out over measly hike, refuse to return to work</a>

According to Corey Cohen, the founder of the real estate company The Roebling Group, purchasing is one method to get out of the rut.

However, not everyone can afford hundreds of thousands in down payment as well as the extra expenses brought on by rising mortgage rates.&nbsp;According to a report by the MagnifyMoney Savings Index, over one in five Americans didn't make any financial investments in 2021 and only one in six homes reported having more savings now than before the outbreak, according to Bankrate, and 25 per cent had no emergency fund at all.

(With inputs from agencies)

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Rent in the city that never sleeps is seeing a staggering jump in the post-Covid market. With the economy still dealing with the after-effects of the pandemic, in New York, rent has seen a significant jump.

Rent in the city that never sleeps is seeing a staggering jump in the post-Covid market. With the economy still dealing with the after-effects of the pandemic, in New York, rent has seen a significant jump. A Reuters article reports that Gerri Weinberger received a notice of a rent increase from $1,833 to $2,500 for her upper east side studio apartment in New York City. In spite of her attempts to negotiate the rent, Gerri will now have to move out of her Manhattan apartment and shift to Jersey City, where the rent is a little bit more affordable. Watch | US inflation slows from 40-year peak, consumer prices ease to 8.5% She told Reuters that when she tried to negotiate her landlord said "this is the market price," said Weinberger. "They said, you know, rents have gone up 40 per cent even in Brooklyn and in even Harlem, all these places. So, that there was nothing I could do. And if I had to leave, then, oh, well, because they have other people who want to live here." Also read | Beating Netflix: Dinsey+ gains 14.4 million subscribers in Q3, hits the 152.1 million mark Kenny Lee, an economist at StreetEasy says "A lot of renters are being priced out of their own home as the landlords seek to reverse the deals they offered during 2020 and 2021," adding that renters should expect further hikes at least through this summer. "I think New York City has seen a later comeback compared to the rest of the United States. The rent price increases in New York City have not really peaked yet, and given how low the current inventory is for the rental market, I think the rents should continue to increase at least a few more months through the end of summer, or perhaps into early fall," predicts Lee. Also read | Amazon staff in Essex walk out over measly hike, refuse to return to work According to Corey Cohen, the founder of the real estate company The Roebling Group, purchasing is one method to get out of the rut. However, not everyone can afford hundreds of thousands in down payment as well as the extra expenses brought on by rising mortgage rates. According to a report by the MagnifyMoney Savings Index, over one in five Americans didn't make any financial investments in 2021 and only one in six homes reported having more savings now than before the outbreak, according to Bankrate, and 25 per cent had no emergency fund at all. (With inputs from agencies) 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.

New Yorkers face record-high rent as the housing market recovers from COVID-19 pandemic

With this sales of smartphones makers slowing down after the pandemic, iPhone assembler Foxconn has given a cautious outlook for the current quarter, this after Foxconn posted results that exceeded expectations.

Apple supplier Foxconn starts to feel sting of slowing smartphone sales

China's factory-gate inflation eased in July to a 17-month low, defying global cost pressures as slower domestic construction weighed on raw material demand, although consumer price increases hit a two-year high as pork supplies tightened.

China's factory inflation eases to a 17-month low in July

Personal cash withdrawals from the UK's post office jumped 8% in July to $967 million. It is believed that more people are now relying on cash to help stay on budget as the cost of living crisis increases.

People turn back to cash as prices rise, cost of living crisis worsens in the UK

The economies across continents have been grappling with hyper inflation starting from developed economies like the United States and UK to emerging economies like India. Egypt falls in line too as the statistics office says that annual urban consumer inflation in the country clocks double-digit growth once again with a monthly increase of 0.4 percent.

Egypt's annual urban consumer inflation soars, rises to 13.6%

The US inflation has eased more than expected but still towering 400 percent higher than the Fed's annual inflation target. The consumer prices in July slowed down to 8.5 percent from 9.1 percent.

US inflation slows from 40-year peak, consumer prices ease to 8.5%

Due to the rising cost of fuel, Ryanair’s CEO recently acknowledged that the company will raise its average fare. In a conversation with the BBC, Michael O’Leary said that the era of €10 was over. Leary said that the airline&nbsp;would increase average fare from €40 to €50 over the next five years.

In recent years, air travel has become affordable and more people have started travelling, including it in their annual vacations or even on their short trips. Commercial aviation is currently under pressure to decrease its impact on the environment and also persuade people to travel by air often. Commercial aviation contributes nearly 2.4 per cent to the world’s carbon emissions.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/ryanair-to-appeal-against-hungarys-baseless-consumer-protection-fine-504968">Ryanair to appeal against Hungary's 'baseless' consumer protection fine</a>

Leary further stated that despite the rising cost of living, people will still continue to fly. The airline's CEO, however, stated that he anticipates customers will look for cheaper alternatives than reducing their flying schedule. Although the airline was making investments in more fuel-efficient planes. The CEO claimed that switching from gasoline and diesel to electronic road vehicles would result in far bigger reductions in the consumption of fossil fuels.

Also read |&nbsp;<a href="https://www.wionews.com/world/fresh-transport-strikes-hit-uk-mainland-europe-492047">Fresh transport strikes hit UK and Europe</a>

Currently, travellers are eager to board planes again after the Covid epidemic, which interrupted international travel. However, as demand for travel increased, airlines fell short of staff, resulting in the cancellation and delays of flights.

Despite having its headquarters in Dublin, Ryanair offers hundreds of routes to and from the UK. The CEO said that Britain’s exit from the European Union had been disaster for the free movement of labour and urged the govt to be honest and manage labour shortages.

(With inputs from agencies)

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Due to the rising cost of fuel, Ryanair’s CEO recently acknowledged that the company will raise its average fare. In a conversation with the BBC, Michael O’Leary said that the era of €10 was over.

Due to the rising cost of fuel, Ryanair’s CEO recently acknowledged that the company will raise its average fare. In a conversation with the BBC, Michael O’Leary said that the era of €10 was over. Leary said that the airline would increase average fare from €40 to €50 over the next five years. In recent years, air travel has become affordable and more people have started travelling, including it in their annual vacations or even on their short trips. Commercial aviation is currently under pressure to decrease its impact on the environment and also persuade people to travel by air often. Commercial aviation contributes nearly 2.4 per cent to the world’s carbon emissions. Also read | Ryanair to appeal against Hungary's 'baseless' consumer protection fine Leary further stated that despite the rising cost of living, people will still continue to fly. The airline's CEO, however, stated that he anticipates customers will look for cheaper alternatives than reducing their flying schedule. Although the airline was making investments in more fuel-efficient planes. The CEO claimed that switching from gasoline and diesel to electronic road vehicles would result in far bigger reductions in the consumption of fossil fuels. Also read | Fresh transport strikes hit UK and Europe Currently, travellers are eager to board planes again after the Covid epidemic, which interrupted international travel. However, as demand for travel increased, airlines fell short of staff, resulting in the cancellation and delays of flights. Despite having its headquarters in Dublin, Ryanair offers hundreds of routes to and from the UK. The CEO said that Britain’s exit from the European Union had been disaster for the free movement of labour and urged the govt to be honest and manage labour shortages. (With inputs from agencies) 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.

Ryanair will increase average fare over the next five years, says CEO

Japan witnesses a bit of relief from inflation, slowing down from previous month and giving some economic relief. Japan's wholesale price indexes have risen 8.6 percent in July from last year.

Japan's wholesale inflation moderates

From US to China, there is no relief for citizens of the country from the price rise. Latest data shows China's consumer inflation has accelerated in July to highest level in two years.

China consumer prices edge up

Apple is likely to start manufacturing iPhone in India at the same time as China. A reliable apple analyst has confirmed that Apple will begin production of iPhone 14 in both China and India together.

iPhone 14 to be manufactured in India: Reports

Pullarao Daravathu and thousands of other farmers in the southern Indian state of Telangana are hard at work growing oil palms as their region strives to add more land to the contentious crop in the next four years than the entire nation has in decades. Telangana plans to plant oil palm on 2 million more acres over the course of the next four years, and it will go to tremendous measures to accomplish this aim, including creating huge dams, irrigation canals, and importing millions of germinated sprouts. Farmers like Daravathu are being encouraged to switch to oil palms by generous government subsidies and enormous profit potential in comparison to other crops.

Fresh fruit bunches that farmers sell to oil mills have more than doubled in price as a result of the recent increase in palm oil prices. Oil palm plantations in India were only permitted on less than one million acres, largely in coastal Andhra Pradesh, the state from which Telangana was split off in 2014. This was due to price instability, water scarcity, and a gestation period of about four years. However, Telangana, which is located in an interior part of the Deccan Plateau, is now eager to become India's main palm oil hub, with an area target that would elevate the state from its current low base to the fifth-largest oil palm grower globally.

The initiative could lessen India's massive imports of vegetable oil, which cost the nation a record $18.9 billion in 2017 and increased the country's trade deficit. Two-thirds of India's vegetable oil needs are met by imports, which total around 14 million tonnes per year and include about 8.5 million tonnes of palm oil. The federal government is eager to boost palm oil production in an effort to reduce those expensive imports, which this year's high inflation was caused after key supplier Indonesia abruptly stopped supplies.

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In order to meet its needs, India imports less than 300,000 tonnes of palm oil that Indonesia, Malaysia, and Thailand now produce. According to Chava Venkateswara Rao of Godrej Agrovet Ltd, the nation's largest producer of palm oil, Telangana would achieve a great deal even if it could only cultivate oil palm on 1 million acres and generate 2 million tonnes of palm oil. Up until last year, the nation added about 35,000 acres planted in oil palm per year.

(with inputs from agencies) 
&nbsp;

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Pullarao Daravathu and thousands of other farmers in the southern Indian state of Telangana are hard at work growing oil palms as their region strives to add more land to the contentious crop in the next four years than the entire nation has in decades.

Pullarao Daravathu and thousands of other farmers in the southern Indian state of Telangana are hard at work growing oil palms as their region strives to add more land to the contentious crop in the next four years than the entire nation has in decades. Telangana plans to plant oil palm on 2 million more acres over the course of the next four years, and it will go to tremendous measures to accomplish this aim, including creating huge dams, irrigation canals, and importing millions of germinated sprouts. Farmers like Daravathu are being encouraged to switch to oil palms by generous government subsidies and enormous profit potential in comparison to other crops. Fresh fruit bunches that farmers sell to oil mills have more than doubled in price as a result of the recent increase in palm oil prices. Oil palm plantations in India were only permitted on less than one million acres, largely in coastal Andhra Pradesh, the state from which Telangana was split off in 2014. This was due to price instability, water scarcity, and a gestation period of about four years. However, Telangana, which is located in an interior part of the Deccan Plateau, is now eager to become India's main palm oil hub, with an area target that would elevate the state from its current low base to the fifth-largest oil palm grower globally. The initiative could lessen India's massive imports of vegetable oil, which cost the nation a record $18.9 billion in 2017 and increased the country's trade deficit. Two-thirds of India's vegetable oil needs are met by imports, which total around 14 million tonnes per year and include about 8.5 million tonnes of palm oil. The federal government is eager to boost palm oil production in an effort to reduce those expensive imports, which this year's high inflation was caused after key supplier Indonesia abruptly stopped supplies. Also Read: US sanctions Russian oligarchs and Putin's 'girlfriend' for involvement in Ukraine war In order to meet its needs, India imports less than 300,000 tonnes of palm oil that Indonesia, Malaysia, and Thailand now produce. According to Chava Venkateswara Rao of Godrej Agrovet Ltd, the nation's largest producer of palm oil, Telangana would achieve a great deal even if it could only cultivate oil palm on 1 million acres and generate 2 million tonnes of palm oil. Up until last year, the nation added about 35,000 acres planted in oil palm per year. (with inputs from agencies)

India relying heavily on oil palm to reduce $19 billion vegetable oil imports

Dan Price, the CEO of credit card processing company Gravity Payments based in Seattle, is a dream employer. The reason? Well, he claims that his company pays employees a minimum salary of $80,000 (about Rs 64 lakh). As unbelievable as it may sound, Price calls himself a "CEO just trying to stand up for the underdog".&nbsp;

In a tweet that has since gone viral, Price says that his company gives its employees time off, paid parental leave and other benefits. The employees are also free to work from wherever they want. He even motivates his workers to take vacations.

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I used to be a workaholic. It wasn’t healthy or productive. 
 
Now, I want to set a better example for my employees with work life balance so I post my hikes. 
 
Everyone deserves time off. Take yours and help others get theirs. <a href="https://t.co/CAkPbQAxSi">pic.twitter.com/CAkPbQAxSi</a>
— Dan Price (@DanPriceSeattle) <a href="https://twitter.com/DanPriceSeattle/status/1557170293684088832?ref_src=twsrc%5Etfw">August 10, 2022</a></blockquote>
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Also Read |&nbsp;<a href="https://www.wionews.com/photos/wion-explains-the-elon-musk-controversy-and-the-current-top-shareholders-of-twitter-471576#musk-and-his-polls-471561">Here's the Elon Musk-Twitter saga; from hostile bid to the abandoned deal</a>

A company that offers this much is surely one no one would want to pass by, which is why, Price says, they get over 300 applicants per job.&nbsp;

"We get over 300 applicants per job," his tweet reads. 'No one wants to work' is a hell of a way of saying 'companies won't pay workers a fair wage and treat them with respect.'"

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My company pays an $80k min wage, lets people work wherever they want, has full benefits, paid parental leave, etc. 
 
We get over 300 applicants per job. 
 
"No one wants to work" is a hell of a way of saying "companies won't pay workers a fair wage and treat them with respect."
— Dan Price (@DanPriceSeattle) <a href="https://twitter.com/DanPriceSeattle/status/1556667521150894082?ref_src=twsrc%5Etfw">August 8, 2022</a></blockquote>
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Even though the tweet is receiving obvious appreciation, there are several who are questioning Price's way of working.&nbsp;

People are especially wondering that if Price gives away that much money, how does he manage to keep the cost of operation in check. Then there are others who aren't happy with Price taking a jibe at other employers. While appreciating Price for paying employees well, owners of small companies replied that it is tough for them to reach a similar stage.

"Gosh I really like your mentality towards paying workers well, but it’s really hard for us smaller companies to get to this point. What advice would you have for owners of companies still finding their stride?" wrote Cantrip Candles (@CantripCandles).

Dan Price, the CEO of credit card processing company Gravity Payments based in Seattle, is a dream employer. The reason? Well, he claims that his company pays employees a minimum salary of $80,000 (about Rs 64 lakh).

Dan Price, the CEO of credit card processing company Gravity Payments based in Seattle, is a dream employer. The reason? Well, he claims that his company pays employees a minimum salary of $80,000 (about Rs 64 lakh). As unbelievable as it may sound, Price calls himself a "CEO just trying to stand up for the underdog". In a tweet that has since gone viral, Price says that his company gives its employees time off, paid parental leave and other benefits. The employees are also free to work from wherever they want. He even motivates his workers to take vacations. I used to be a workaholic. It wasn’t healthy or productive. Now, I want to set a better example for my employees with work life balance so I post my hikes. Everyone deserves time off. Take yours and help others get theirs. pic.twitter.com/CAkPbQAxSi — Dan Price (@DanPriceSeattle) August 10, 2022 × Also Read | Here's the Elon Musk-Twitter saga; from hostile bid to the abandoned deal A company that offers this much is surely one no one would want to pass by, which is why, Price says, they get over 300 applicants per job. "We get over 300 applicants per job," his tweet reads. 'No one wants to work' is a hell of a way of saying 'companies won't pay workers a fair wage and treat them with respect.'" My company pays an $80k min wage, lets people work wherever they want, has full benefits, paid parental leave, etc. We get over 300 applicants per job. "No one wants to work" is a hell of a way of saying "companies won't pay workers a fair wage and treat them with respect." — Dan Price (@DanPriceSeattle) August 8, 2022 × Even though the tweet is receiving obvious appreciation, there are several who are questioning Price's way of working. People are especially wondering that if Price gives away that much money, how does he manage to keep the cost of operation in check. Then there are others who aren't happy with Price taking a jibe at other employers. While appreciating Price for paying employees well, owners of small companies replied that it is tough for them to reach a similar stage. "Gosh I really like your mentality towards paying workers well, but it’s really hard for us smaller companies to get to this point. What advice would you have for owners of companies still finding their stride?" wrote Cantrip Candles (@CantripCandles).

A CEO who pays $80,000 minimum wage and lets employees work from anywhere