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A new report has claimed that the collective wealth of the United States' 651 billionaires rose by over $1 trillion roughly since the time the coronavirus pandemic began and now stands at a combined total of $4 trillion on Monday.

The cumulative net worth of the US's 651 billionaires jumped from $2.95 trillion on March 18 to $4.01 trillion on December 7, a jump of 36 per cent based on Forbes billionaires, as per a new report by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS).&nbsp;

Also read | <a href="https://www.wionews.com/world/wealth-of-billionaires-rises-to-102-trillion-amid-coronavirus-crisis-333054">Wealth of billionaires rises to $10.2 trillion amid coronavirus crisis</a>

Interestingly, the size of their wealth increase is more than $908 billion relief package proposed by a bipartisan group of Congressmen.&nbsp;

Also read | <a href="https://www.wionews.com/business-economy/vaccine-tycoon-overtakes-jack-ma-to-become-chinas-richest-asias-second-wealthiest-329880#:~:text=Vaccine%20tycoon%20Zhong%20Shanshan%20has,to%20the%20Bloomberg%20Billionaires%20Index.">Vaccine tycoon overtakes Jack Ma to become China's richest, Asia's second-wealthiest</a>

The pandemic has affected the US the most both in terms of the total infections and deaths and the US Department of Agriculture has recently said that an estimated 54 million Americans will struggle with hunger this year, a 45 per cent jump from 2019.&nbsp;

The gains made by these billionaires mean that this amount could lead to a stimulus check of $3,000 to each of the about 330 million people in the country. A family of four would have received more than $12,000.&nbsp;

It is also about four times the $267 billion paid as part of stimulus packages to 159 million people earlier this year. &nbsp;

"Never before has America seen such an accumulation of wealth in so few hands," said Frank Clemente, executive director of Americans for Tax Fairness.

"Their pandemic profits are so immense that America's billionaires could pay for a major COVID relief bill and still not lose a dime of their pre-virus riches. Their wealth growth is so great that they alone could provide a $3,000 stimulus payment to every man, woman and child in the country, and still be richer than they were 9 months ago."

A new report has claimed that the collective wealth of the United States' 651 billionaires rose by over $1 trillion roughly since the time the coronavirus pandemic began and now stands at a combined total of $4 trillion on Monday.

A new report has claimed that the collective wealth of the United States' 651 billionaires rose by over $1 trillion roughly since the time the coronavirus pandemic began and now stands at a combined total of $4 trillion on Monday. The cumulative net worth of the US's 651 billionaires jumped from $2.95 trillion on March 18 to $4.01 trillion on December 7, a jump of 36 per cent based on Forbes billionaires, as per a new report by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS). Also read | Wealth of billionaires rises to $10.2 trillion amid coronavirus crisis Interestingly, the size of their wealth increase is more than $908 billion relief package proposed by a bipartisan group of Congressmen. Also read | Vaccine tycoon overtakes Jack Ma to become China's richest, Asia's second-wealthiest The pandemic has affected the US the most both in terms of the total infections and deaths and the US Department of Agriculture has recently said that an estimated 54 million Americans will struggle with hunger this year, a 45 per cent jump from 2019. The gains made by these billionaires mean that this amount could lead to a stimulus check of $3,000 to each of the about 330 million people in the country. A family of four would have received more than $12,000. It is also about four times the $267 billion paid as part of stimulus packages to 159 million people earlier this year. "Never before has America seen such an accumulation of wealth in so few hands," said Frank Clemente, executive director of Americans for Tax Fairness. "Their pandemic profits are so immense that America's billionaires could pay for a major COVID relief bill and still not lose a dime of their pre-virus riches. Their wealth growth is so great that they alone could provide a $3,000 stimulus payment to every man, woman and child in the country, and still be richer than they were 9 months ago."

Wealth rise of 651 US billionaires alone could pay more than latest stimulus: Report

Coronavirus is once again on a rampage, China especially is seeing a really high number of cases, due to which the country is undertaking preventive measures like lockdowns and mass testing. According to reports, Beijing has fired more than 70 officials as a “punishment” for failing to control the virus.

In other news, the Russia-Ukraine conflict continues for the 27th day. The world is seeing ramifications, Indonesia is facing a "noodle crisis". Meanwhile, continuing its crackdown on dissent, a Russian court has found Kremlin critic Alexei Navalny guilty of embezzlement, this can increase his jail sentence by&nbsp;up to ten years.

Towards the end of the newsletter, we also bring you some exciting science news.

Click on the headlines to read the full story

<a href="https://www.wionews.com/world/china-continues-to-break-covid-case-record-officials-face-the-brunt-for-laxity-464579">China continues to break Covid case record, officials face the brunt for 'laxity'</a>

<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2022/03/22/249315-covid.jpg" />

As a resurgent COVID-19 wreaks havoc in China, more than 70 officials have been let go as a “punishment” in the past one month for failing to control the virus.

<a href="https://www.wionews.com/world/russias-brutal-repression-of-dissent-opposition-leader-navalny-found-guilty-of-embezzlement-464536">Russia's brutal repression of dissent: Kremlin critic Navalny found guilty of embezzlement</a>

<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2022/03/22/249277-stories.jpg" />

With Moscow working hard to wipe out any and every remaining pocket of dissent, a Russian court has found jailed Kremlin critic Alexei Navalny guilty on charges of embezzlement.&nbsp;The charges could see Navalny's sentence being significantly extended.&nbsp;

<a href="https://www.wionews.com/trending/ukraine-conflict-creates-noodle-crisis-in-indonesia-464590">Ukraine conflict creates 'noodle crisis' in Indonesia</a>

<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2022/03/22/249320-noodles.jpg" />Ukraine conflict has caused a shortage of the iconic and heavily popular 'Indomie' noodles in Indonesia.

<a href="https://www.wionews.com/world/not-even-one-country-met-who-air-quality-standards-in-2021-india-5th-most-polluted-country-report-464595">Not even one country met WHO air quality standards in 2021, India 5th most polluted country: Report</a>

<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2022/03/22/249322-stories-4.jpg" />

A survey of pollution data from 6,475 cities showed that no country managed to meet the World Health Organization's (WHO) air quality standard in 2021, and smog even rebounded in some regions after a COVID-related dip.

<a href="https://www.wionews.com/world/interviews-begin-in-downing-street-lockdown-parties-scandal-investigation-464551">Interviews begin in Downing Street lockdown party scandal investigation</a>

<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2022/03/22/249283-stories-2.jpg" />

In connection with their investigation into alleged breaches of lockdown rules at gatherings held at Prime Minister Boris Johnson's office and residence, the Metropolitan Police reported&nbsp;that they have begun interviewing witnesses.

<a href="https://www.wionews.com/world/australia-sexual-abuse-charges-slapped-against-state-mp-gareth-ward-464645">Australia: Sexual abuse charges slapped against state MP Gareth Ward</a>

<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2022/03/22/249367-gareth-ward.jpg" />

Police in Australia has confirmed that Gareth Ward (40), a state MP from Australia's New South Wales (NSW) has been charged with sexually abusing a man and a teenage boy.

<a href="https://www.wionews.com/world/world-water-day-2022-know-the-significance-tell-your-story-to-the-un-464548">World Water Day 2022: Know the significance, tell your story to the UN</a>

<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2022/03/22/249284-world-water-day.jpg" />

Each year, World Water Day is celebrated on March 22. The UN observes such special days and weeks to educate public about issues facing humanity. The effort is also focused on mobilising political will and resources.

<a href="https://www.wionews.com/science/nasa-confirms-a-celestial-milestone-5000-exoplanets-confirmed-so-far-464644">NASA confirms a 'celestial milestone', 5000 exoplanets confirmed so far</a>

<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2022/03/22/249359-download.jpg" />

The number of confirmed exoplanets just surpassed 5,000, marking the culmination of a 30-year journey. In a milestone celebration, NASA announced that its space telescopes helped confirm thousands of new exoplanets.&nbsp;

<a href="https://www.wionews.com/science/what-slows-down-star-formation-in-a-galaxy-this-is-the-answer-464620">What slows down star-formation in a galaxy? This is the answer</a>

<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2021/12/13/226464-hubble.jpg" />

What is the reason behind these varying rates of star formation? What causes the rate of star formation to lower? These and some other questions have been in focus of space research for decades.&nbsp;

Watch |&nbsp;'Putin is weighing use of biological and chemical weapons,' says Joe Biden

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/putin-is-weighing-use-of-biological-and-chemical-weapons-says-joe-biden-464654/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Coronavirus is once again on a rampage, China especially is seeing a really high number of cases, due to which the country is undertaking preventive measures like lockdowns and mass testing.

Coronavirus is once again on a rampage, China especially is seeing a really high number of cases, due to which the country is undertaking preventive measures like lockdowns and mass testing. According to reports, Beijing has fired more than 70 officials as a “punishment” for failing to control the virus. In other news, the Russia-Ukraine conflict continues for the 27th day. The world is seeing ramifications, Indonesia is facing a "noodle crisis". Meanwhile, continuing its crackdown on dissent, a Russian court has found Kremlin critic Alexei Navalny guilty of embezzlement, this can increase his jail sentence by up to ten years. Towards the end of the newsletter, we also bring you some exciting science news. Click on the headlines to read the full story China continues to break Covid case record, officials face the brunt for 'laxity' As a resurgent COVID-19 wreaks havoc in China, more than 70 officials have been let go as a “punishment” in the past one month for failing to control the virus. Russia's brutal repression of dissent: Kremlin critic Navalny found guilty of embezzlement With Moscow working hard to wipe out any and every remaining pocket of dissent, a Russian court has found jailed Kremlin critic Alexei Navalny guilty on charges of embezzlement. The charges could see Navalny's sentence being significantly extended. Ukraine conflict creates 'noodle crisis' in Indonesia Ukraine conflict has caused a shortage of the iconic and heavily popular 'Indomie' noodles in Indonesia. Not even one country met WHO air quality standards in 2021, India 5th most polluted country: Report A survey of pollution data from 6,475 cities showed that no country managed to meet the World Health Organization's (WHO) air quality standard in 2021, and smog even rebounded in some regions after a COVID-related dip. Interviews begin in Downing Street lockdown party scandal investigation In connection with their investigation into alleged breaches of lockdown rules at gatherings held at Prime Minister Boris Johnson's office and residence, the Metropolitan Police reported that they have begun interviewing witnesses. Australia: Sexual abuse charges slapped against state MP Gareth Ward Police in Australia has confirmed that Gareth Ward (40), a state MP from Australia's New South Wales (NSW) has been charged with sexually abusing a man and a teenage boy. World Water Day 2022: Know the significance, tell your story to the UN Each year, World Water Day is celebrated on March 22. The UN observes such special days and weeks to educate public about issues facing humanity. The effort is also focused on mobilising political will and resources. NASA confirms a 'celestial milestone', 5000 exoplanets confirmed so far The number of confirmed exoplanets just surpassed 5,000, marking the culmination of a 30-year journey. In a milestone celebration, NASA announced that its space telescopes helped confirm thousands of new exoplanets. What slows down star-formation in a galaxy? This is the answer What is the reason behind these varying rates of star formation? What causes the rate of star formation to lower? These and some other questions have been in focus of space research for decades. Watch | 'Putin is weighing use of biological and chemical weapons,' says Joe Biden

Walmart to triple exports from India to $10 billion each year

Beginning this week, water will be exchanged on the Wall Street wares fates market, because of its shortage. The cost of the crucial fluid will vacillate much the same as oil, gold, or wheat, CME Group announced.&nbsp;

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.<a href="https://twitter.com/Nasdaq?ref_src=twsrc%5Etfw">@Nasdaq</a> Veles California Water Index (NQH2O) futures are here, the first-of-its kind tool to help market participants manage water supply and demand risk.
— CME Group (@CMEGroup) <a href="https://twitter.com/CMEGroup/status/1335954717852262403?ref_src=twsrc%5Etfw">December 7, 2020</a></blockquote>
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Water shortages could affect around five billion people worldwide by 2050, according to the United Nations.

The cost of water in California has multiplied in the most recent year, as indicated by the Nasdaq Velez California Water Index. Specialists guarantee that its appearance on the ware market will permit better administration of things to come hazard related to this resource.&nbsp;

The US organisation CME Group will dispatch contracts identified with California spot water, a market of 1.1 billion dollars. With the NQH2O ticker, the cost of water prospects in California was exchanging today at about $ 486.53 per acre-foot, which is comparable to 1,233 cubic meters.&nbsp;

The record depends on costs in California's significant waterway bowls, where water shortage has expanded. This worth can be utilized as a source of perspective for the remainder of the world in the water markets.&nbsp;

Ranchers, assets, or regions may ensure themselves or theorize against changes in the cost of water. As per CME Group, the new agreements will permit better administration of the danger related to water shortage and make a superior relationship among's organic market in the business sectors.&nbsp;

These fates contracts don't need actual conveyance of water and are absolutely monetary. They depend on the week after week cost arrived at the midpoint of over California's best five watersheds through 2022.&nbsp;

These agreements are the first of their sort in the United States and were declared in September when the west bank of the nation was crushed by warmth and fierce blazes. As per Bloomberg, they are expected to "fill in as security for California's biggest water buyers against rising costs and as a marker of shortage for financial specialists around the globe."&nbsp;

China and the United States are the world's primary customers of water. As per the United Nations, 2 billion individuals live in nations with difficult issues of admittance to water. The office gauges that in the following not many years 66% of the planet could encounter water deficiencies and a huge number of individuals will be uprooted by it.&nbsp;

The inadequacy of the crucial fluid is identified with the over the top misuse of these assets by the essential area, industry, and human utilization, just as environmental change.

Beginning this week, water will be exchanged on the Wall Street wares fates market, because of its shortage. The cost of the crucial fluid will vacillate much the same as oil, gold, or wheat, CME Group announced.

Beginning this week, water will be exchanged on the Wall Street wares fates market, because of its shortage. The cost of the crucial fluid will vacillate much the same as oil, gold, or wheat, CME Group announced. .@Nasdaq Veles California Water Index (NQH2O) futures are here, the first-of-its kind tool to help market participants manage water supply and demand risk. — CME Group (@CMEGroup) December 7, 2020 × Water shortages could affect around five billion people worldwide by 2050, according to the United Nations. The cost of water in California has multiplied in the most recent year, as indicated by the Nasdaq Velez California Water Index. Specialists guarantee that its appearance on the ware market will permit better administration of things to come hazard related to this resource. The US organisation CME Group will dispatch contracts identified with California spot water, a market of 1.1 billion dollars. With the NQH2O ticker, the cost of water prospects in California was exchanging today at about $ 486.53 per acre-foot, which is comparable to 1,233 cubic meters. The record depends on costs in California's significant waterway bowls, where water shortage has expanded. This worth can be utilized as a source of perspective for the remainder of the world in the water markets. Ranchers, assets, or regions may ensure themselves or theorize against changes in the cost of water. As per CME Group, the new agreements will permit better administration of the danger related to water shortage and make a superior relationship among's organic market in the business sectors. These fates contracts don't need actual conveyance of water and are absolutely monetary. They depend on the week after week cost arrived at the midpoint of over California's best five watersheds through 2022. These agreements are the first of their sort in the United States and were declared in September when the west bank of the nation was crushed by warmth and fierce blazes. As per Bloomberg, they are expected to "fill in as security for California's biggest water buyers against rising costs and as a marker of shortage for financial specialists around the globe." China and the United States are the world's primary customers of water. As per the United Nations, 2 billion individuals live in nations with difficult issues of admittance to water. The office gauges that in the following not many years 66% of the planet could encounter water deficiencies and a huge number of individuals will be uprooted by it. The inadequacy of the crucial fluid is identified with the over the top misuse of these assets by the essential area, industry, and human utilization, just as environmental change.

Wall Street to begin trading water for the first time due to fear of shortages

Demian Schaffert, a former race car driver, sets new record on Nürburgring-Nordschleife with the GT 63S 4-Door coupé, beating the time of AMG GT R. Unveiled at the Auto Expo 2020, the Mercedes AMG GT 63S reflects the curves and aesthetics of the AMG GT R. 
 
The AMG-specific radiator grille, a long bonnet with two power domes, are some of the prominent attributes of the AMG GT series that are present in the AMG GT 63S 4MATIC+ 4-Door Coupé.

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The AWD technology that comes standard with the AMG GT 63S 4MATIC+ 4-Door Coupé launches the luxury sedan better than its kin, the AMG GT R. The AMG 4.0-liter V8 biturbo engine under the hood generates peak torque of 900 Nm at 4500 rpm. This enormous forward thrust, combined with the jaw-dropping 639hp, enables the GT 63S to reach 0-100 kmph in just 3.2 seconds. The large air inlets, keeping in tune with the aesthetically pleasing design philosophy, breathe enough air into the turbocharger to ensure a spontaneous response. 
<img alt="Mercedes" data-entity-type="file" data-entity-uuid="5ce53525-c55b-4e91-a97e-1448f5120cd3" src="//cdn.wionews.com/sites/default/files/inline-images/Merc1.JPG" />

Moreover, the 3-stage speed-sensitive steering offers amazing feedback while ensuring a nimble performance, and precisely harnessing the brutal power. 
 
<img alt="Mercedes" data-entity-type="file" data-entity-uuid="0a4e8b33-5b79-47ec-9754-9b18b3e431ca" src="//cdn.wionews.com/sites/default/files/inline-images/merc2.JPG" /> 
 
The performance of AMG GT 63S 4MATIC+ 4-Door Coupé makes it a luxury sedan that can outperform any sports car in the race track, without breaking a sweat. The AMG rear-axle steering takes the performance up by a few notches making the vehicle more manageable on roads. 
 
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&nbsp;

In addition to that, there are six drive programmes to choose from. Moreover, AMG RIDE CONTROL+ with adaptive damping systems guarantees extra agility and driving dynamics by allowing riders to change the suspension settings according to road conditions and drive preference. Mercedes has also implemented AMG Cylinder Management, which is a cylinder shutoff system that significantly curbs fuel consumption despite the car’s powerful performance. Also, the switchable exhaust system creates a symphony delightful to the ears of performance enthusiasts.&nbsp; 
 
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What differentiates AMG GT 63S 4MATIC+ 4-Door Coupé from its sibling the AMG GT R is the exquisite interior of the car, apart from the wordy nomenclature. The interiors of the car – the dash, the fine upholstery on the Nappa leather seats, and foremost the rear passenger seats make this car, literally, a class apart. The passenger seats, in particular, make it a sedan instead of a sports car. 
 
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Being the latest offering from the house of Mercedes, AMG GT 63S boasts having all the technical brilliance. Features like the Burmester sound system, Mercedes me Connect are some of the top of the shelve technologies from Mercedes that come standard with this car. Further, the synergy between the ambient lighting and climate control adds a dash of sophistication to what the car already exudes. The light inside the cabin changes according to the climate setting. 
 
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The dashboard of the AMG GT 63S features a large display for the infotainment, but surprisingly enough, it’s not a touch screen. Instead, the car offers a touchpad on the central console to navigate through the infotainment options. There are seven interactive buttons on the centre console that give access to drive modes and suspension setting. Besides, the modes can also be accessed right from the steering wheel where reside a multitude of buttons.

Not only the cars but Mercedes as a brand offers luxury to its customers, through service. To implement this attitude, Mercedes introduces MercFromHome, an approach that is all the more practical in recent days. This service essentially allows the buyer to have a consultation with Mercedes-Benz experts. These experts guide customers to get the best Mercedes experience, which includes sales assistance, value-added services, delivery process, a 360-degree view of the car, etc. The enthusiasts can also configure the vehicle and <a href="https://www.shop.mercedes-benz.co.in/inventory?f=submodel%3AMercedes-AMG%20GT%204-Door%20Coupe&amp;utm_campaign=amg_gt_dec_20&amp;utm_medium=affiliate&amp;utm_source=zee_wion&amp;utm_content=article">order online.</a>

The Mercedes AMG GT 63S 4MATIC+ 4-Door Coupé epitomises Mercedes’ core brand value, ‘Driving Performance’, and indeed demands top dollar as it is launched at ₹ 2.42 crore (ex-showroom).

Demian Schaffert, a former race car driver, sets new record on Nürburgring-Nordschleife with the GT 63S 4-Door coupé, beating the time of AMG GT R. Unveiled at the Auto Expo 2020, the Mercedes AMG GT 63S reflects the curves and aesthetics of the AMG GT R.

Demian Schaffert, a former race car driver, sets new record on Nürburgring-Nordschleife with the GT 63S 4-Door coupé, beating the time of AMG GT R. Unveiled at the Auto Expo 2020, the Mercedes AMG GT 63S reflects the curves and aesthetics of the AMG GT R. The AMG-specific radiator grille, a long bonnet with two power domes, are some of the prominent attributes of the AMG GT series that are present in the AMG GT 63S 4MATIC+ 4-Door Coupé. × The AWD technology that comes standard with the AMG GT 63S 4MATIC+ 4-Door Coupé launches the luxury sedan better than its kin, the AMG GT R. The AMG 4.0-liter V8 biturbo engine under the hood generates peak torque of 900 Nm at 4500 rpm. This enormous forward thrust, combined with the jaw-dropping 639hp, enables the GT 63S to reach 0-100 kmph in just 3.2 seconds. The large air inlets, keeping in tune with the aesthetically pleasing design philosophy, breathe enough air into the turbocharger to ensure a spontaneous response. Moreover, the 3-stage speed-sensitive steering offers amazing feedback while ensuring a nimble performance, and precisely harnessing the brutal power. The performance of AMG GT 63S 4MATIC+ 4-Door Coupé makes it a luxury sedan that can outperform any sports car in the race track, without breaking a sweat. The AMG rear-axle steering takes the performance up by a few notches making the vehicle more manageable on roads. In addition to that, there are six drive programmes to choose from. Moreover, AMG RIDE CONTROL+ with adaptive damping systems guarantees extra agility and driving dynamics by allowing riders to change the suspension settings according to road conditions and drive preference. Mercedes has also implemented AMG Cylinder Management, which is a cylinder shutoff system that significantly curbs fuel consumption despite the car’s powerful performance. Also, the switchable exhaust system creates a symphony delightful to the ears of performance enthusiasts. What differentiates AMG GT 63S 4MATIC+ 4-Door Coupé from its sibling the AMG GT R is the exquisite interior of the car, apart from the wordy nomenclature. The interiors of the car – the dash, the fine upholstery on the Nappa leather seats, and foremost the rear passenger seats make this car, literally, a class apart. The passenger seats, in particular, make it a sedan instead of a sports car. Being the latest offering from the house of Mercedes, AMG GT 63S boasts having all the technical brilliance. Features like the Burmester sound system, Mercedes me Connect are some of the top of the shelve technologies from Mercedes that come standard with this car. Further, the synergy between the ambient lighting and climate control adds a dash of sophistication to what the car already exudes. The light inside the cabin changes according to the climate setting. The dashboard of the AMG GT 63S features a large display for the infotainment, but surprisingly enough, it’s not a touch screen. Instead, the car offers a touchpad on the central console to navigate through the infotainment options. There are seven interactive buttons on the centre console that give access to drive modes and suspension setting. Besides, the modes can also be accessed right from the steering wheel where reside a multitude of buttons. Not only the cars but Mercedes as a brand offers luxury to its customers, through service. To implement this attitude, Mercedes introduces MercFromHome, an approach that is all the more practical in recent days. This service essentially allows the buyer to have a consultation with Mercedes-Benz experts. These experts guide customers to get the best Mercedes experience, which includes sales assistance, value-added services, delivery process, a 360-degree view of the car, etc. The enthusiasts can also configure the vehicle and order online. The Mercedes AMG GT 63S 4MATIC+ 4-Door Coupé epitomises Mercedes’ core brand value, ‘Driving Performance’, and indeed demands top dollar as it is launched at ₹ 2.42 crore (ex-showroom).

Faster than the Fastest! AMG GT 63S is the fastest Mercedes ever

Uber will sell off its air transport unit to flying taxi maker Joby Aviation, the company said, as it streamlines operations to navigate a ride-share market scuttled by the pandemic.

The deal will see Joby acquire Uber expertise and software, and able to offer its all-electric, vertical take-off and landing passenger aircraft on the ride-hailing giant's app.

While financial terms of the deal were not disclosed, they include Uber investing $75 million into Santa Cruz-based Joby, which has said it hopes to have its flying taxis in operation as early as 2023.&nbsp;

The sale of Uber Elevate -- dedicated to electric aircraft and delivery drones -- to Joby will "accelerate the path to market" for flying taxis, Uber chief executive Dara Khosrowshahi said in a joint release Tuesday.

Founded in 2009, Joby Aviation is developing a four-passenger electric aircraft that takes off and lands vertically, like a helicopter, though it has multiple rotors.

The firm envisions the aircraft as a mode of commercial transport, rather than for sale to individuals, with its pilots ferrying commuters around.

Uber said it had already invested $50 million in Joby during a fundraising round early this year.

News of the sale came shortly after Uber announced an agreement to sell its autonomous car division to Amazon and Hyundai-backed Aurora in a deal that gives it a 26 percent stake in the startup developing self-driving technology.

As part of the deal, Uber will invest $400 million in Aurora to merge the teams from both firms seeking to advance the technology for driverless ride-hailing.

The companies expect the self-driving technology to be initially put to use for long-haul trucking.

Khosrowshahi will also join the Aurora board of directors as part of the deal. The merged firm will work on the technology to be known as Aurora Driver.

Last month Uber reported that it lost $1.1 billion in the recently ended quarter as the pandemic walloped its ride-hailing business, while boosting its food delivery service.

Uber will sell off its air transport unit to flying taxi maker Joby Aviation, the company said, as it streamlines operations to navigate a ride-share market scuttled by the pandemic.

Uber will sell off its air transport unit to flying taxi maker Joby Aviation, the company said, as it streamlines operations to navigate a ride-share market scuttled by the pandemic. The deal will see Joby acquire Uber expertise and software, and able to offer its all-electric, vertical take-off and landing passenger aircraft on the ride-hailing giant's app. While financial terms of the deal were not disclosed, they include Uber investing $75 million into Santa Cruz-based Joby, which has said it hopes to have its flying taxis in operation as early as 2023. The sale of Uber Elevate -- dedicated to electric aircraft and delivery drones -- to Joby will "accelerate the path to market" for flying taxis, Uber chief executive Dara Khosrowshahi said in a joint release Tuesday. Founded in 2009, Joby Aviation is developing a four-passenger electric aircraft that takes off and lands vertically, like a helicopter, though it has multiple rotors. The firm envisions the aircraft as a mode of commercial transport, rather than for sale to individuals, with its pilots ferrying commuters around. Uber said it had already invested $50 million in Joby during a fundraising round early this year. News of the sale came shortly after Uber announced an agreement to sell its autonomous car division to Amazon and Hyundai-backed Aurora in a deal that gives it a 26 percent stake in the startup developing self-driving technology. As part of the deal, Uber will invest $400 million in Aurora to merge the teams from both firms seeking to advance the technology for driverless ride-hailing. The companies expect the self-driving technology to be initially put to use for long-haul trucking. Khosrowshahi will also join the Aurora board of directors as part of the deal. The merged firm will work on the technology to be known as Aurora Driver. Last month Uber reported that it lost $1.1 billion in the recently ended quarter as the pandemic walloped its ride-hailing business, while boosting its food delivery service.

Uber to sell air taxi unit to Joby Aviation

The domestic stock market, up over half a per cent, logged their fresh record high on Wednesday on the back of firm global cues. 
&nbsp; 
Among headline indices, the S&amp;P BSE Sensex gained 300 points, or 0.6 per cent, at 45,910 levels and the Nifty50 index topped the 13,450-mark. ITC and IndusInd Bank (both up 1%) were the top Sensex gainers.

Performance of banking, IT and auto stocks have been impressive over the last few sessions. Markets were further boosted by Reliance, India’s largest listed company. Reliance shares were trading over 1 per cent higher, continuing its impressive performance.

(With inputs from agencies)

The domestic stock market, up over half a per cent, logged their fresh record high on Wednesday on the back of firm global cues. Among headline indices, the S&P BSE Sensex gained 300 points, or 0.

The domestic stock market, up over half a per cent, logged their fresh record high on Wednesday on the back of firm global cues. Among headline indices, the S&P BSE Sensex gained 300 points, or 0.6 per cent, at 45,910 levels and the Nifty50 index topped the 13,450-mark. ITC and IndusInd Bank (both up 1%) were the top Sensex gainers. Performance of banking, IT and auto stocks have been impressive over the last few sessions. Markets were further boosted by Reliance, India’s largest listed company. Reliance shares were trading over 1 per cent higher, continuing its impressive performance. (With inputs from agencies)

Stock market indices hit fresh high; Sensex gains 300 points

American business magnate and Microsoft co-founder Bill Gates on Tuesday praised India for digital payments policies and said that India has built an ambitious platform for digital payments, including a system for sending rupees between any bank or smartphone app.

Bill Gates was speaking at the Singapore Fintech Festival on this day, where he lauded India's financial inclusion policies — especially the "ambitious" platforms for money transfer and identification — which he said will bring down the "cost and friction of money distribution" to the downtrodden in India.

“If people are going to study one country right now, other than China, I’d say they should look at India,” Gates said at the Singapore Fintech Festival on Tuesday. “Things are exploding there and innovation around that system is phenomenal.”

"India is a great example. They developed a lot of technologies that won't be possible for other countries. The role of the Gates Foundation as an advocate for those who don't have access today is to make sure there are technical standards, including open-source software and the digital identification systems, not just for financial activities but also for health, voting, and education," Gates said.

India's digital payment system got a major boost in 2016 due to demonetisation, accompanied by a boom in smartphones and cheap wireless data.

(With inputs from agencies)

American business magnate and Microsoft co-founder Bill Gates on Tuesday praised India for digital payments policies and said that India has built an ambitious platform for digital payments, including a system for sending rupees between any bank or smartphone app.

American business magnate and Microsoft co-founder Bill Gates on Tuesday praised India for digital payments policies and said that India has built an ambitious platform for digital payments, including a system for sending rupees between any bank or smartphone app. Bill Gates was speaking at the Singapore Fintech Festival on this day, where he lauded India's financial inclusion policies — especially the "ambitious" platforms for money transfer and identification — which he said will bring down the "cost and friction of money distribution" to the downtrodden in India. “If people are going to study one country right now, other than China, I’d say they should look at India,” Gates said at the Singapore Fintech Festival on Tuesday. “Things are exploding there and innovation around that system is phenomenal.” "India is a great example. They developed a lot of technologies that won't be possible for other countries. The role of the Gates Foundation as an advocate for those who don't have access today is to make sure there are technical standards, including open-source software and the digital identification systems, not just for financial activities but also for health, voting, and education," Gates said. India's digital payment system got a major boost in 2016 due to demonetisation, accompanied by a boom in smartphones and cheap wireless data. (With inputs from agencies)

Bill Gates lauds Indian digital innovations, calls it a country to study besides China

Asian shares rose to a record high and US stock futures gained on Wednesday as investors tracked positive news on COVID-19 vaccines and ongoing efforts to launch more fiscal stimulus.

World Business Watch: Asia shares hit record high on vaccine progress

Cash-strapped Cuba said it had attracted $1.9billion worth of foreign investment over the past year despite tighter United States sanctions.

World Business Watch: Cuba attracts $1.9 billion in FDI despite US sanctions

Australian consumer sentiment climbed for the fourth straight month in December to a 10-year high as the country further relaxed virus restrictions and states opened their borders to each other.

World Business Watch: Australia consumer sentiment hits 10-year high

The key Indian equity indices were trading in the green on Tuesday but off the lifetime highs recorded earlier in the session.

S&amp;P BSE Sensex was trading 40-odd points higher at 45,460 levels. The index hit an intra-day high of 45,729. Meanwhile, the broader Nifty50 index also slipped below the 13,400-mark.&nbsp;

Meanwhile, the rupee appreciated by 10 paise to 73.80 against the US dollar in the opening session on Tuesday as sustained foreign fund inflows and strong domestic equities boosted investor sentiment.

At the interbank forex market, the domestic unit opened at 73.83 against the US dollar and gained ground to touch a high of 73.80 against the greenback, registering a rise of 10 paise over its previous close.

(With inputs from agencies)

The key Indian equity indices were trading in the green on Tuesday but off the lifetime highs recorded earlier in the session. S&P BSE Sensex was trading 40-odd points higher at 45,460 levels.

The key Indian equity indices were trading in the green on Tuesday but off the lifetime highs recorded earlier in the session. S&P BSE Sensex was trading 40-odd points higher at 45,460 levels. The index hit an intra-day high of 45,729. Meanwhile, the broader Nifty50 index also slipped below the 13,400-mark. Meanwhile, the rupee appreciated by 10 paise to 73.80 against the US dollar in the opening session on Tuesday as sustained foreign fund inflows and strong domestic equities boosted investor sentiment. At the interbank forex market, the domestic unit opened at 73.83 against the US dollar and gained ground to touch a high of 73.80 against the greenback, registering a rise of 10 paise over its previous close. (With inputs from agencies)

Stock market indices trade higher amid volatility; pharma, metals drag

Brazilian automobile production plateaued in November, rising just 0.7% from October after several months of higher growth, as the head of automakers association Anfavea warned that shortages for crucial parts could lead to production issues in December.

World Business Watch: Brazil auto recovery stalls on parts shortage

Japan announced a fresh $708 billion economic stimulus package on Tuesday to speed up the recovery from the country’s deep coronavirus-driven slump.

World Business Watch: Japan announces $708 bn in fresh stimulus

A shortage of chips used in auto manufacturing could disrupt automotive production in China well into next year. Reports saying chip companies are raising prices and expanding production in response.

World Business Watch: Chip shortages could slow automotive production in China

Foreign direct investment (FDI) equity inflows into India crossed the $500 billion milestone between April 2000 to September 2020, strengthening the country’s credentials as an investment destination.

World Business Watch: FDI equity inflows into India cross $500 bn milestone

Credit card giants Visa and Mastercard&nbsp;are investigating their business relationship with Pornhub after a New York Times columnist alleged that the pornographic website shows videos of rape and underage sex.

Mastercard said&nbsp;it does not tolerate illegal activity on its payment network, and that it works with law enforcement and organizations like the National Center for Missing and&nbsp;Exploited Children to detect illegal transactions. Pornhub has denied it allows child videos on its site.

"We are examining the charges brought up in the New York Times and are working with MindGeek's bank to comprehend this circumstance, notwithstanding different advances they have just taken," Mastercard said in an articulation. "In the event that the cases are validated, we will make a prompt move."&nbsp;

Nicholas Kristof, opinion columnist at The New York Times,&nbsp;wrote Friday&nbsp;that Pornhub carries rape scenes, revenge pornography and other examples of explicit video taken without consent of the participants.

Pornhub said it is “irresponsible and flagrantly untrue” to suggest that it allows images of the sexual abuse of children on its site. Pornhub added that it employs moderators to screen every upload and that it removes illegal material.

The online payment service PayPal last year stopped processing payments to Pornhub, which is owned by the pornography conglomerate MindGeek. The columnist called out other card issuers for working with the site.

In response to Kristof’s story, Visa and Mastercard said they’re investigating the matter.

“We are aware of the allegations, and we are actively engaging with the relevant financial institutions to investigate, in addition to engaging directly with the site’s parent company, MindGeek,” Visa said Sunday.

Visa added that if Pornhub is violating the law or bank policies, then the website will be prohibited from accepting Visa payments.

Meanwhile, Mastercard promised “immediate action″ if the allegations are substantiated.

“We are investigating the allegations raised in the New York Times and are working with MindGeek’s bank to understand this situation,” Mastercard said in a statement.

Processing payments for pornography websites has long divided the payments and banking industry, and sex workers have claimed they’ve had their bank accounts shut down after lenders learned of their profession.

PayPal Holdings Inc. doesn’t process payments for Pornhub.com. American Express Co.’s cards aren’t accepted on Pornhub, and a spokeswoman on Saturday said the firm has a longstanding policy that prohibits card acceptance on digital adult content websites.

Credit card giants Visa and Mastercard are investigating their business relationship with Pornhub after a New York Times columnist alleged that the pornographic website shows videos of rape and underage sex.

Credit card giants Visa and Mastercard are investigating their business relationship with Pornhub after a New York Times columnist alleged that the pornographic website shows videos of rape and underage sex. Mastercard said it does not tolerate illegal activity on its payment network, and that it works with law enforcement and organizations like the National Center for Missing and Exploited Children to detect illegal transactions. Pornhub has denied it allows child videos on its site. "We are examining the charges brought up in the New York Times and are working with MindGeek's bank to comprehend this circumstance, notwithstanding different advances they have just taken," Mastercard said in an articulation. "In the event that the cases are validated, we will make a prompt move." Nicholas Kristof, opinion columnist at The New York Times, wrote Friday that Pornhub carries rape scenes, revenge pornography and other examples of explicit video taken without consent of the participants. Pornhub said it is “irresponsible and flagrantly untrue” to suggest that it allows images of the sexual abuse of children on its site. Pornhub added that it employs moderators to screen every upload and that it removes illegal material. The online payment service PayPal last year stopped processing payments to Pornhub, which is owned by the pornography conglomerate MindGeek. The columnist called out other card issuers for working with the site. In response to Kristof’s story, Visa and Mastercard said they’re investigating the matter. “We are aware of the allegations, and we are actively engaging with the relevant financial institutions to investigate, in addition to engaging directly with the site’s parent company, MindGeek,” Visa said Sunday. Visa added that if Pornhub is violating the law or bank policies, then the website will be prohibited from accepting Visa payments. Meanwhile, Mastercard promised “immediate action″ if the allegations are substantiated. “We are investigating the allegations raised in the New York Times and are working with MindGeek’s bank to understand this situation,” Mastercard said in a statement. Processing payments for pornography websites has long divided the payments and banking industry, and sex workers have claimed they’ve had their bank accounts shut down after lenders learned of their profession. PayPal Holdings Inc. doesn’t process payments for Pornhub.com. American Express Co.’s cards aren’t accepted on Pornhub, and a spokeswoman on Saturday said the firm has a longstanding policy that prohibits card acceptance on digital adult content websites.

Mastercard, Visa investigate financial ties with Pornhub

A brisk factory recovery in China from coronavirus shutdowns earlier this year has far outpaced reopenings seen in major trading partners, many of which are still struggling with outbreaks.

China exports surge by forecast beating 21% in November

For the sixth consecutive day, prices of petrol and diesel rose on Monday as they approach towards the highest-ever spike.&nbsp;

As per the latest price revision by oil marketing companies, the price of petrol was hiked by 30 paise per litre (USD 0.0041) and diesel by 26 paise (USD 0.0035).&nbsp;

Also read | <a href="https://www.wionews.com/india-news/we-must-ensure-sushasan-in-bihar-pm-modi-at-petroleum-project-inauguration-327184">We must ensure 'sushasan' in Bihar: PM Modi at petroleum project inauguration</a>

One litre petrol in Delhi costs now Rs 83.71 (USD 1.13), while the diesel rate went up to Rs 73.87 (USD 1) per litre.&nbsp;

With this spike, the rates of petrol and diesel are at its highest since September 2018.&nbsp;

Also, this is the sixth day in a row when the fuel prices have risen in India and 15th increase since November 10.&nbsp;

In only 18 days, the price of petrol has shot up by Rs 2.65 (USD 0.036) per litre and that of diesel by Rs 3.41 (USD 0.046).

The increase in rates comes as international oil prices are rising by a third from lows at the end of October with hopes that coronavirus vaccine could lead to a resurgence in demand.

Brent crude oil is closing in on USD 50 per barrel.&nbsp;

In Mumbai, petrol is sold at Rs 90.34 (USD 1.22) per litre from Rs 90.05 and diesel at Rs 80.51 (1.09) from Rs 80.23.&nbsp;

The huge rise since November is seen after about two-month hiatus as petrol prices went unchanged since September 22 and diesel since October 2.&nbsp;

 
&nbsp;

For the sixth consecutive day, prices of petrol and diesel rose on Monday as they approach towards the highest-ever spike. As per the latest price revision by oil marketing companies, the price of petrol was hiked by 30 paise per litre (USD 0.

For the sixth consecutive day, prices of petrol and diesel rose on Monday as they approach towards the highest-ever spike. As per the latest price revision by oil marketing companies, the price of petrol was hiked by 30 paise per litre (USD 0.0041) and diesel by 26 paise (USD 0.0035). Also read | We must ensure 'sushasan' in Bihar: PM Modi at petroleum project inauguration One litre petrol in Delhi costs now Rs 83.71 (USD 1.13), while the diesel rate went up to Rs 73.87 (USD 1) per litre. With this spike, the rates of petrol and diesel are at its highest since September 2018. Also, this is the sixth day in a row when the fuel prices have risen in India and 15th increase since November 10. In only 18 days, the price of petrol has shot up by Rs 2.65 (USD 0.036) per litre and that of diesel by Rs 3.41 (USD 0.046). The increase in rates comes as international oil prices are rising by a third from lows at the end of October with hopes that coronavirus vaccine could lead to a resurgence in demand. Brent crude oil is closing in on USD 50 per barrel. In Mumbai, petrol is sold at Rs 90.34 (USD 1.22) per litre from Rs 90.05 and diesel at Rs 80.51 (1.09) from Rs 80.23. The huge rise since November is seen after about two-month hiatus as petrol prices went unchanged since September 22 and diesel since October 2.

Petrol, diesel prices rise for sixth day in a row; set for all all-time high

The department said that since March, United Airlines had reduced its workforce by 32%, or 29,243 employees, while Delta Air Lines eliminated 32% of its jobs, affecting 28,751 employees.

U.S. airlines cut 29,000 workers through mid-October

Reserve Bank of India on Friday decided to keep benchmark interest rate unchanged at 4% but maintained an accommodative stance, implying more rate cuts in the future if the need arises to support the economy hit by the COVID-19 crisis.

The monetary policy committee also decided to retain an accommodative policy stance at least for the current financial year and into the next year to revive growth on a durable basis, Governor Shaktikanta Das said in an online briefing.

The key lending rate of the RBI or the repo rate was left unchanged at 4% while the reverse repo rate or the key borrowing rate stayed at 3.35%.

Governor Das also said that the real GDP growth for 2021 is projected at -7.5%.

The central bank has slashed the repo rate by 115 basis points (bps) since late March to cushion the shock from the coronavirus crisis and sweeping lockdowns to check its spread.

Economists and market participants are closely awaiting commentary from the RBI about liquidity conditions.&nbsp;

(With inputs from agencies)

Reserve Bank of India on Friday decided to keep benchmark interest rate unchanged at 4% but maintained an accommodative stance, implying more rate cuts in the future if the need arises to support the economy hit by the COVID-19 crisis.

Reserve Bank of India on Friday decided to keep benchmark interest rate unchanged at 4% but maintained an accommodative stance, implying more rate cuts in the future if the need arises to support the economy hit by the COVID-19 crisis. The monetary policy committee also decided to retain an accommodative policy stance at least for the current financial year and into the next year to revive growth on a durable basis, Governor Shaktikanta Das said in an online briefing. The key lending rate of the RBI or the repo rate was left unchanged at 4% while the reverse repo rate or the key borrowing rate stayed at 3.35%. Governor Das also said that the real GDP growth for 2021 is projected at -7.5%. The central bank has slashed the repo rate by 115 basis points (bps) since late March to cushion the shock from the coronavirus crisis and sweeping lockdowns to check its spread. Economists and market participants are closely awaiting commentary from the RBI about liquidity conditions. (With inputs from agencies)

RBI keeps repo rate unchanged at 4%, GDP forecast upgraded

Domestic stock market shares edged higher on Friday, as the Reserve Bank of India left interest rates unchanged for a third straight meeting, amid stubbornly high inflation and signs of an economic revival.

The S&amp;P BSE Sensex was trading 300 points up at 44,950 levels and the Nifty50 index was above the 13,200 level. 
 
Ultratech Cement (up 4%), Laren &amp; Toubro (up 2%), and ICICI Bank, Mahindra &amp; Mahindra, and Bharti Airtel (all up 2%) were the top Sensex gainers.

Meanwhile, the Indian rupee opened higher by 12 paise at 73.81 per dollar on Friday versus Thursday's close of 73.93, amid buying seen in the domestic equity market. On December 3 rupee ended near day's low at 73.93 per dollar against the previous close of 73.80.

(With inputs from agencies)

Domestic stock market shares edged higher on Friday, as the Reserve Bank of India left interest rates unchanged for a third straight meeting, amid stubbornly high inflation and signs of an economic revival.

Domestic stock market shares edged higher on Friday, as the Reserve Bank of India left interest rates unchanged for a third straight meeting, amid stubbornly high inflation and signs of an economic revival. The S&P BSE Sensex was trading 300 points up at 44,950 levels and the Nifty50 index was above the 13,200 level. Ultratech Cement (up 4%), Laren & Toubro (up 2%), and ICICI Bank, Mahindra & Mahindra, and Bharti Airtel (all up 2%) were the top Sensex gainers. Meanwhile, the Indian rupee opened higher by 12 paise at 73.81 per dollar on Friday versus Thursday's close of 73.93, amid buying seen in the domestic equity market. On December 3 rupee ended near day's low at 73.93 per dollar against the previous close of 73.80. (With inputs from agencies)

Sensex, Nifty at fresh record highs

The Trump administration on Thursday sued Facebook, accusing it of discriminating against American workers by favouring immigrant applicants for thousands of high-paying jobs.

The Department of Justice's lawsuit opens a new front in the administration's push against tech companies -- and its clampdown on immigration -- as President Donald Trump enters his final weeks in office.

The suit concerns more than 2,600 positions with an average salary of some $156,000, offered from January 2018 to September 2019.

"Facebook engaged in intentional and widespread violations of the law, by setting aside positions for temporary visa holders instead of considering interested and qualified US workers," assistant attorney general Eric Dreiband, of the Justice Department's Civil Rights Division, said in a statement outlining the department's allegations.

The internet giant reserved positions for candidates with H1-B "skilled worker" visas or other temporary work visas, the department said.

Facebook "channelled" jobs to visa holders by avoiding advertising on its careers website, accepting only physically mailed applications for some posts, or refusing to consider US workers at all, according to the suit.

The unusual move to file a lawsuit -- with the Justice Department pivoting suddenly away from simply discussing their concerns with Facebook -- could be seen as a rush to hit the courts before Trump leaves the White House in January.

The California-based social network planned to continue cooperating with the department as the case plays out.

Restrictions rejected

The lawsuit was filed just two days after a US federal judge blocked rule changes ordered by Trump that made it harder for people outside the country to get skilled-worker visas.

The US Chamber of Commerce, the Bay Area Council in Facebook's home state of California and others had sued the Department of Homeland Security arguing that the changes rushed new restrictions through without a proper public review process.

Skilled-worker visas are precious to Silicon Valley tech firms hungry for engineers and other highly-trained talents, with Asia home to many keenly sought workers.

US District Court Judge Jeffrey White granted a motion to set aside two rules by the Departments of Labor and Homeland Security that would have compelled companies to pay H1-B visa workers higher wages and restricted job types that qualify for the visas.

The Trump administration had cited the Covid-19 pandemic and its toll on the economy as reasons for skipping the required public notice and review processes for their new rules, according to court documents.

 
But White said in his ruling that the administration did not demonstrate "that the impact of the Covid-19 pandemic on domestic unemployment justified dispensing with the due deliberation that normally accompanies" making changes to the H-1B visa program.

Animosity toward immigration has been a hallmark of the Trump administration.

Facebook uses hiring practices standard in Silicon Valley, and US prosecutors were also eyeing other tech firms regarding H1-B visas employment, according to a person familiar with the matter.

Antitrust as well?

On another legal front, federal regulators and US states are poised to hit Facebook with antitrust cases, US media reported Thursday, amid concerns that its practice of buying up rivals has harmed competition.

The company said earlier this year its executives were fielding questions from the US Federal Trade Commission (FTC) on an antitrust fact-finding mission.

The FTC declined to comment Thursday on reports in multiple US outlets including The New York Times and Washington Post that it is likely to file an antitrust suit against the social media giant.

An FTC review of acquisitions dating back to 2010 could potentially "unwind" some of the company's deals.

Facebook is the leading internet social network, reaching close to three billion people worldwide with its core platform, along with Instagram and messaging services WhatsApp and Messenger.

An estimated seven in 10 US adults use Facebook, and its reach allows it to play an outsized role in digital advertising and news delivery.

That influence means the network regularly faces complaints about its handling of political misinformation and hate speech.

The Trump administration on Thursday sued Facebook, accusing it of discriminating against American workers by favouring immigrant applicants for thousands of high-paying jobs.

The Trump administration on Thursday sued Facebook, accusing it of discriminating against American workers by favouring immigrant applicants for thousands of high-paying jobs. The Department of Justice's lawsuit opens a new front in the administration's push against tech companies -- and its clampdown on immigration -- as President Donald Trump enters his final weeks in office. The suit concerns more than 2,600 positions with an average salary of some $156,000, offered from January 2018 to September 2019. "Facebook engaged in intentional and widespread violations of the law, by setting aside positions for temporary visa holders instead of considering interested and qualified US workers," assistant attorney general Eric Dreiband, of the Justice Department's Civil Rights Division, said in a statement outlining the department's allegations. The internet giant reserved positions for candidates with H1-B "skilled worker" visas or other temporary work visas, the department said. Facebook "channelled" jobs to visa holders by avoiding advertising on its careers website, accepting only physically mailed applications for some posts, or refusing to consider US workers at all, according to the suit. The unusual move to file a lawsuit -- with the Justice Department pivoting suddenly away from simply discussing their concerns with Facebook -- could be seen as a rush to hit the courts before Trump leaves the White House in January. The California-based social network planned to continue cooperating with the department as the case plays out. Restrictions rejected The lawsuit was filed just two days after a US federal judge blocked rule changes ordered by Trump that made it harder for people outside the country to get skilled-worker visas. The US Chamber of Commerce, the Bay Area Council in Facebook's home state of California and others had sued the Department of Homeland Security arguing that the changes rushed new restrictions through without a proper public review process. Skilled-worker visas are precious to Silicon Valley tech firms hungry for engineers and other highly-trained talents, with Asia home to many keenly sought workers. US District Court Judge Jeffrey White granted a motion to set aside two rules by the Departments of Labor and Homeland Security that would have compelled companies to pay H1-B visa workers higher wages and restricted job types that qualify for the visas. The Trump administration had cited the Covid-19 pandemic and its toll on the economy as reasons for skipping the required public notice and review processes for their new rules, according to court documents. But White said in his ruling that the administration did not demonstrate "that the impact of the Covid-19 pandemic on domestic unemployment justified dispensing with the due deliberation that normally accompanies" making changes to the H-1B visa program. Animosity toward immigration has been a hallmark of the Trump administration. Facebook uses hiring practices standard in Silicon Valley, and US prosecutors were also eyeing other tech firms regarding H1-B visas employment, according to a person familiar with the matter. Antitrust as well? On another legal front, federal regulators and US states are poised to hit Facebook with antitrust cases, US media reported Thursday, amid concerns that its practice of buying up rivals has harmed competition. The company said earlier this year its executives were fielding questions from the US Federal Trade Commission (FTC) on an antitrust fact-finding mission. The FTC declined to comment Thursday on reports in multiple US outlets including The New York Times and Washington Post that it is likely to file an antitrust suit against the social media giant. An FTC review of acquisitions dating back to 2010 could potentially "unwind" some of the company's deals. Facebook is the leading internet social network, reaching close to three billion people worldwide with its core platform, along with Instagram and messaging services WhatsApp and Messenger. An estimated seven in 10 US adults use Facebook, and its reach allows it to play an outsized role in digital advertising and news delivery. That influence means the network regularly faces complaints about its handling of political misinformation and hate speech.

US sues Facebook for allegedly favouring immigrants over US workers 

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Dharampal Gulati, the owner of the spices brand ‘MDH’ passed away on Thursday morning.&nbsp; 
 
Mahashay Dharampal Gulati, famously known as the ‘MDH uncle’, ‘Dadaji’, ‘Masala King’, or ‘King of Spices’ was the CEO of MDH (Mahshian Di Hatti), one of India's biggest spice brand.

According to reports, Gulati was undergoing treatment at a hospital in New Delhi. Gulati suffered a cardiac arrest on December 3 morning.

Gulati was born on March 27, 1923, in Pakistan’s Sialkot, where his father had set up a small shop. However, after partition in 1947, the family moved to Delhi in India. In 1953, Gulati rented a shop in Chandni Chowk, named it Mahashiyan Di Hatti (MDH), and started selling spices.&nbsp;

The company was officially established in 1959 when Gulati bought land in Kirti Nagar and set up a manufacturing unit. 
 
Currently, MDH Spices, which reportedly manufactures nearly 50 different varieties of spices, has 15 factories across the country and sells its products across the globe, as per reports. Gulati became highest-paid FMCG (Fast Moving Consumer Goods) CEO in India in 2017.

In 2019, Gulati was awarded the Padma Bhushan, India's third-highest civilian award.

(With inputs from agencies)&nbsp;

Dharampal Gulati, the owner of the spices brand ‘MDH’ passed away on Thursday morning. Mahashay Dharampal Gulati, famously known as the ‘MDH uncle’, ‘Dadaji’, ‘Masala King’, or ‘King of Spices’ was the CEO of MDH (Mahshian Di Hatti), one of India's biggest spice brand.

Dharampal Gulati, the owner of the spices brand ‘MDH’ passed away on Thursday morning. Mahashay Dharampal Gulati, famously known as the ‘MDH uncle’, ‘Dadaji’, ‘Masala King’, or ‘King of Spices’ was the CEO of MDH (Mahshian Di Hatti), one of India's biggest spice brand. According to reports, Gulati was undergoing treatment at a hospital in New Delhi. Gulati suffered a cardiac arrest on December 3 morning. Gulati was born on March 27, 1923, in Pakistan’s Sialkot, where his father had set up a small shop. However, after partition in 1947, the family moved to Delhi in India. In 1953, Gulati rented a shop in Chandni Chowk, named it Mahashiyan Di Hatti (MDH), and started selling spices. The company was officially established in 1959 when Gulati bought land in Kirti Nagar and set up a manufacturing unit. Currently, MDH Spices, which reportedly manufactures nearly 50 different varieties of spices, has 15 factories across the country and sells its products across the globe, as per reports. Gulati became highest-paid FMCG (Fast Moving Consumer Goods) CEO in India in 2017. In 2019, Gulati was awarded the Padma Bhushan, India's third-highest civilian award. (With inputs from agencies)

MDH Masala owner Mahashay Dharampal Gulati passes away at 97