<p>Jeff Shell, the chief executive of NBCUniversal, will leave the US-based media company and entertainment giant after an investigation over “a complaint of inappropriate conduct” was launched against him.&nbsp;</p>

<p>The announcement was made on Sunday (April 23) by the parent company Comcast Corp after Shell acknowledged having had an inappropriate relationship with a woman in the company, the complaint for which has since prompted an investigation.&nbsp;</p>

<p>A Comcast statement said that the company and Jeff Shell have “mutually agreed” that he will leave “effective immediately”.&nbsp;</p>

<p>“I had an inappropriate relationship with a woman in the company, which I deeply regret. I'm truly sorry I let my Comcast and NBCUniversal colleagues down,” said Shell.</p>

<p>Shell had been a part of the company for nearly 20 years. The media giant has said that an outside counsel will lead the investigation into the complaint. However, the&nbsp;brief statement did not give any other details about it.&nbsp;</p>

<p>As of now, Comcast has not indicated who will replace Shell. For the time being, NBCUniversal’s senior executives will report directly to Comcast president Mike Cavanagh.</p>

<p>The now-former CEO once led content creation, programming and distribution for NBCUniversal Film and Entertainment. He took over as the chief executive of NBCUniversal in 2020, replacing Steve Burke.&nbsp;</p>

<p>Earlier in his career at Universal Films, Shell oversaw some of the biggest franchises such as <em>Fast &amp; Furious</em> and <em>Jurassic World </em>by Universal Studios. The parent company also comprises NBC, which is one of the biggest television networks in the US, business news channel CNBC and the prominent Hollywood film studio Universal Pictures.&nbsp;</p>

<p>Following Shell’s ouster, Cavanagh and Comcast chief executive Brian Roberts, in a company-wide email said, “We built this company on a culture of integrity. Nothing is more important than how we treat each other."</p>

<p>They added, “When our principles and policies are violated, we will always move quickly to take appropriate action, as we have done here.”&nbsp;</p>

<p>In a previous statement to employees, Roberts also said, “NBCUniversal is performing extremely well operationally and financially.”</p>

<p>Notably,&nbsp;Shell took over as the CEO&nbsp;during the pandemic when Covid-induced lockdowns had forced the closure of theme parks and cinemas while TV productions were halted.&nbsp;</p>

<p>This is not an incident at NBCUniversal. Its vice chairman Ron Meyer left the company back in 2020, after disclosing a settlement with a woman with whom he had a consensual affair years ago, reported Reuters.&nbsp;</p>

<p><em>(With inputs from agencies)&nbsp;</em><br />
<br />
&nbsp;</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

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Jeff Shell, the chief executive of NBCUniversal, will leave the US-based media company and entertainment giant after an investigation over “a complaint of inappropriate conduct” was launched against him.

Jeff Shell, the chief executive of NBCUniversal, will leave the US-based media company and entertainment giant after an investigation over “a complaint of inappropriate conduct” was launched against him. The announcement was made on Sunday (April 23) by the parent company Comcast Corp after Shell acknowledged having had an inappropriate relationship with a woman in the company, the complaint for which has since prompted an investigation. A Comcast statement said that the company and Jeff Shell have “mutually agreed” that he will leave “effective immediately”. “I had an inappropriate relationship with a woman in the company, which I deeply regret. I'm truly sorry I let my Comcast and NBCUniversal colleagues down,” said Shell. Shell had been a part of the company for nearly 20 years. The media giant has said that an outside counsel will lead the investigation into the complaint. However, the brief statement did not give any other details about it. As of now, Comcast has not indicated who will replace Shell. For the time being, NBCUniversal’s senior executives will report directly to Comcast president Mike Cavanagh. The now-former CEO once led content creation, programming and distribution for NBCUniversal Film and Entertainment. He took over as the chief executive of NBCUniversal in 2020, replacing Steve Burke. Earlier in his career at Universal Films, Shell oversaw some of the biggest franchises such as Fast & Furious and Jurassic World by Universal Studios. The parent company also comprises NBC, which is one of the biggest television networks in the US, business news channel CNBC and the prominent Hollywood film studio Universal Pictures. Following Shell’s ouster, Cavanagh and Comcast chief executive Brian Roberts, in a company-wide email said, “We built this company on a culture of integrity. Nothing is more important than how we treat each other." They added, “When our principles and policies are violated, we will always move quickly to take appropriate action, as we have done here.” In a previous statement to employees, Roberts also said, “NBCUniversal is performing extremely well operationally and financially.” Notably, Shell took over as the CEO during the pandemic when Covid-induced lockdowns had forced the closure of theme parks and cinemas while TV productions were halted. This is not an incident at NBCUniversal. Its vice chairman Ron Meyer left the company back in 2020, after disclosing a settlement with a woman with whom he had a consensual affair years ago, reported Reuters. (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.

NBCUniversal CEO Jeff Shell to leave 'effective immediately’ over complaint of 'inappropriate conduct'

The increase in oil prices following the conflict in Ukraine has resulted in high inflation worldwide and a terrible economic crisis in certain nations, but ExxonMobil CEO Darren Wood has good news because his compensation package has increased by more than 50% since the conflict.

Exxon CEO gets record pay hike amid Ukraine war

<p>Elon Musk broke federal labour law by tweeting that Tesla workers would lose stock options if they joined a union, ruled a US appeals court. The 5th US Circuit Court of Appeals judges in New Orleans over Musk's 2018 tweet said that it constituted an unlawful threat that would deter unionisation and ordered Musk to remove it.</p>

<p>The appeals court while backing the findings of US National Labor Relations Board's (NLRB) gave the ruling. This came after an organising campaign by the United Auto Workers (UAW) union at Tesla’s Fremont automobile plant in California.</p>

<p>Musk tweeted, “Nothing stopping Tesla team at our car plant from voting union … But why pay union dues &amp; give up stock options for nothing?”</p>

<p>Also Read | <a href="https://www.wionews.com/world/deadly-avalanches-in-norway-kill-four-including-tourists-house-sweeps-into-sea-577942">Deadly avalanches in Norway kill four including tourists, house sweeps into sea</a></p>

<p>The UAW president, Shawn Fain, welcomed the ruling but also said it exposed “our broken US labour law”.&nbsp;“Here is a company that clearly broke the law and yet it is several years down the road before these workers have achieved a modicum of justice,” Fain said.</p>

<p>Earlier, Tesla won in a lawsuit filed by investors in February related to a Tweet&nbsp;by Musk from 2018 that suggested funding was available for the company to go private. Musk claimed in a tweet that he has "funding&nbsp;secured" to take the electric vehicle manufacturer private at a price of $420 per share. Investors contended that the tweets caused stocks to soar over a 10-day period.<br />
<br />
After winning the lawsuit, Musk had tweeted, “Thank goodness, the wisdom of the people has prevailed!” “I am deeply appreciative of the jury’s unanimous finding of innocence in the Tesla 420 take-private case.”</p>

<p>Also Read |&nbsp;<a href="https://www.wionews.com/world/love-themed-spring-break-in-chinese-colleges-as-nation-scurries-to-tackle-population-decline-577925">Love-themed spring break in Chinese colleges as nation scurries to tackle population decline</a></p>

<p>In addition, Musk won in a defamation case brought by a British caver.&nbsp;The Tesla founder&nbsp;was sued by Vernon Unsworth for $190 million in damages, but Elon Musk won. Musk argued in court that the term "pedo man" was prevalent in South Africa, where he was raised.</p>

<p>Musk acquired Twitter in 2022 for $44 billion. In the argument on Friday, Tesla had contended that the tweet about organising wasn't a threat and was instead just a reflection of the reality that union employees at other automakers weren't given stock options.&nbsp;</p>

<p><strong>Watch | Will Artificial Intelligence be the end of mankind?&nbsp;</strong></p>

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<p>“Substantial evidence supports the NLRB’s conclusion that the tweet is an implied threat to end stock options as retaliation for unionization,” the panel wrote.<br />
<br />
In another case, the labour board concluded in 2022 that Tesla had infringed the law by preventing workers at the Fremont factory from wearing shirts that backed the union movement. The company is contesting that decision.</p>

<p><br />
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Elon Musk broke federal labour law by tweeting that Tesla workers would lose stock options if they joined a union, ruled a US appeals court. The 5th US Circuit Court of Appeals judges in New Orleans over Musk's 2018 tweet said that it constituted an unlawful threat that would deter unionisation and ordered Musk to remove it.

Elon Musk broke federal labour law by tweeting that Tesla workers would lose stock options if they joined a union, ruled a US appeals court. The 5th US Circuit Court of Appeals judges in New Orleans over Musk's 2018 tweet said that it constituted an unlawful threat that would deter unionisation and ordered Musk to remove it. The appeals court while backing the findings of US National Labor Relations Board's (NLRB) gave the ruling. This came after an organising campaign by the United Auto Workers (UAW) union at Tesla’s Fremont automobile plant in California. Musk tweeted, “Nothing stopping Tesla team at our car plant from voting union … But why pay union dues & give up stock options for nothing?” Also Read | Deadly avalanches in Norway kill four including tourists, house sweeps into sea The UAW president, Shawn Fain, welcomed the ruling but also said it exposed “our broken US labour law”. “Here is a company that clearly broke the law and yet it is several years down the road before these workers have achieved a modicum of justice,” Fain said. Earlier, Tesla won in a lawsuit filed by investors in February related to a Tweet by Musk from 2018 that suggested funding was available for the company to go private. Musk claimed in a tweet that he has "funding secured" to take the electric vehicle manufacturer private at a price of $420 per share. Investors contended that the tweets caused stocks to soar over a 10-day period. After winning the lawsuit, Musk had tweeted, “Thank goodness, the wisdom of the people has prevailed!” “I am deeply appreciative of the jury’s unanimous finding of innocence in the Tesla 420 take-private case.” Also Read | Love-themed spring break in Chinese colleges as nation scurries to tackle population decline In addition, Musk won in a defamation case brought by a British caver. The Tesla founder was sued by Vernon Unsworth for $190 million in damages, but Elon Musk won. Musk argued in court that the term "pedo man" was prevalent in South Africa, where he was raised. Musk acquired Twitter in 2022 for $44 billion. In the argument on Friday, Tesla had contended that the tweet about organising wasn't a threat and was instead just a reflection of the reality that union employees at other automakers weren't given stock options. Watch | Will Artificial Intelligence be the end of mankind? × “Substantial evidence supports the NLRB’s conclusion that the tweet is an implied threat to end stock options as retaliation for unionization,” the panel wrote. In another case, the labour board concluded in 2022 that Tesla had infringed the law by preventing workers at the Fremont factory from wearing shirts that backed the union movement. The company is contesting that decision. 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.

Musk violated labour law by tweeting Tesla workers would lose stock options if they joined union: Court

<p>Even as TikTok is confronted with a pushback from US government quarters over concerns of app's alleged spying and data sharing, the video hosting platform is reluctant to become irrelevant in the country. As per a latest report by TikTok, the number of users on the platform has&nbsp;seen an uptick and has reached&nbsp;150 million monthly active users in the US.&nbsp;</p>

<p>The application had 100 million monthly active users in 2020. The Chinese application is already thriving in US. It has become the source of many entertaining and viral trends.&nbsp;</p>

<p>The development comes as TikTok CEO Shou Zi Chew is all set to testify before US House Committee on Energy and Commerce on Thursday.&nbsp;US President Joe Biden in December last year signed a bill banning the Chinese app on devices of federal government employees.&nbsp;</p>

<p>Also Read | <a href="https://www.wionews.com/india-news/in-a-setback-for-india-fugitive-businessman-mehul-choksi-removed-from-interpol-red-notice-list-574114">In a setback for India, fugitive businessman Mehul Choksi removed from Interpol Red Notice List</a></p>

<p>The move was taken amid concerns that the app, which is owned by the Chinese company Bytedance, poses a threat to national security.&nbsp;</p>

<p>US government had earlier levelled allegations on TikTok saying that the application shares users' data with the Chinese government, an accusation that the Chinese app has refuted.&nbsp;</p>

<p>As per TikTok data, over one billion people worldwide use the app to learn something new or connect generally with others holding shared interests.&nbsp;Earlier, Biden gave&nbsp;an ultimatum to TikTok saying that the application will face a potential ban unless its Chinese owners divest their stake&nbsp;in it.</p>

<p>Also Read | <a href="https://www.wionews.com/india-news/delhi-murder-shraddha-walkars-audio-clip-played-in-court-gut-wrenching-accounts-make-father-tremble-574130">Delhi Murder: Shraddha Walkar's audio clip played in court, gut-wrenching accounts make father tremble</a></p>

<p>Reacting to this, the TikTok spokesperson Maureen Shanahan said, “If protecting national security is the objective, divestment doesn’t solve the problem."&nbsp;</p>

<p>“A change in ownership would not impose any new restrictions on data flows or access. The best way to address concerns about national security is with the transparent, US-based protection of US user data and systems, with robust third-party monitoring, vetting, and verification, which we are already implementing," Shanahan added as per a CNN report.&nbsp;</p>

<p>Watch | <a href="https://www.wionews.com/videos/france-protest-police-fire-tear-gas-on-protestors-574080">France protest: Police fire tear gas on protestors</a></p>

<p>Before the CEO faces the US congress, TikTok is apparently going out on an all-out PR effort to position itself as an application highly focused on the security of its users' data.&nbsp;</p>

<p>According to a Bloomberg report, the company took out a four-page colour ad in New York Times on Monday. A QR code in the ad takes the person who scans it to a page where a cartoon video elaborates on how the video hosting platform has invested $1.5 billion in security.</p>

<p>The company also gave ads in the Washington Metro system, at Union Station and in the Washington Post along with sponsoring Politico’s Playbook newsletter and Axios’s tech-focused Login newsletter.&nbsp;</p>

<p>Moreover, in what appeared to be company's corporate strategy to distance itself from the Chinese government, TikTok earlier also took out&nbsp;ads in Australian newspapers. As per reports, a TikTok ad in The Australian read the tagline “Don’t make TikTok a political football."</p>

<p>There are also reports suggesting that TikTok has an "army of lobbyists" which is trying to change the opinion of influential people in Washington to avoid a ban on the Chinese app.&nbsp;<br />
<br />
<em>(With inputs from agencies)</em><br />
&nbsp;</p>

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Even as TikTok is confronted with a pushback from US government quarters over concerns of app's alleged spying and data sharing, the video hosting platform is reluctant to become irrelevant in the country.

Even as TikTok is confronted with a pushback from US government quarters over concerns of app's alleged spying and data sharing, the video hosting platform is reluctant to become irrelevant in the country. As per a latest report by TikTok, the number of users on the platform has seen an uptick and has reached 150 million monthly active users in the US. The application had 100 million monthly active users in 2020. The Chinese application is already thriving in US. It has become the source of many entertaining and viral trends. The development comes as TikTok CEO Shou Zi Chew is all set to testify before US House Committee on Energy and Commerce on Thursday. US President Joe Biden in December last year signed a bill banning the Chinese app on devices of federal government employees. Also Read | In a setback for India, fugitive businessman Mehul Choksi removed from Interpol Red Notice List The move was taken amid concerns that the app, which is owned by the Chinese company Bytedance, poses a threat to national security. US government had earlier levelled allegations on TikTok saying that the application shares users' data with the Chinese government, an accusation that the Chinese app has refuted. As per TikTok data, over one billion people worldwide use the app to learn something new or connect generally with others holding shared interests. Earlier, Biden gave an ultimatum to TikTok saying that the application will face a potential ban unless its Chinese owners divest their stake in it. Also Read | Delhi Murder: Shraddha Walkar's audio clip played in court, gut-wrenching accounts make father tremble Reacting to this, the TikTok spokesperson Maureen Shanahan said, “If protecting national security is the objective, divestment doesn’t solve the problem." “A change in ownership would not impose any new restrictions on data flows or access. The best way to address concerns about national security is with the transparent, US-based protection of US user data and systems, with robust third-party monitoring, vetting, and verification, which we are already implementing," Shanahan added as per a CNN report. Watch | France protest: Police fire tear gas on protestors Before the CEO faces the US congress, TikTok is apparently going out on an all-out PR effort to position itself as an application highly focused on the security of its users' data. According to a Bloomberg report, the company took out a four-page colour ad in New York Times on Monday. A QR code in the ad takes the person who scans it to a page where a cartoon video elaborates on how the video hosting platform has invested $1.5 billion in security. The company also gave ads in the Washington Metro system, at Union Station and in the Washington Post along with sponsoring Politico’s Playbook newsletter and Axios’s tech-focused Login newsletter. Moreover, in what appeared to be company's corporate strategy to distance itself from the Chinese government, TikTok earlier also took out ads in Australian newspapers. As per reports, a TikTok ad in The Australian read the tagline “Don’t make TikTok a political football." There are also reports suggesting that TikTok has an "army of lobbyists" which is trying to change the opinion of influential people in Washington to avoid a ban on the Chinese app. (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.

TikTok’s monthly active users in US jump to 150mn, firm launches PR exercise to fix sullied image

<p>Jet airways' Chief Executive Officer (CEO) Sanjiv Kapoor faced backlash from a section of Twitter for labelling Indian metros 'artless concrete eyesores,' when he made a comparison of a Bengaluru metro station with one in Dubai. Kapoor shared a few images while criticising the poor quality of the design of several metro stations, including those in Gurugram and Bengaluru.</p>

<p>This appeared to anger twitterati who then barraged his tweet comments with images of 'aesthetic' metro stations from all over the nation, reported the Hindustan Times.&nbsp;</p>

<p>“Bangalore, Gurgaon, Kolkata... why are our overground/overhead metro stations such artless concrete eyesores? Take a look at Dubai (right) compared to Bangalore (left). And this Dubai station was probably built 10 years ago!" tweeted Kapoor.&nbsp;</p>

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<p>As popular as the tweet became, some people lashed out at Kapoor for his "inability to appreciate the country's infrastructure developments," while others agreed with him to some extent and said that metros in this country lacked an "eco-friendly" and "inclusivity" approach.&nbsp;</p>

<p><strong>ALSO READ |</strong>&nbsp;<a href="https://www.wionews.com/india-news/mea-lodges-strong-protest-with-uk-after-indian-mission-is-vandalised-by-khalistani-extremists-573695">MEA lodges 'strong protest' with UK after Indian mission is vandalised by Khalistani extremists</a></p>

<p>One user simply posted pictures of various Delhi metro stations with beautiful artwork and the statement "Delhi metro for you!"</p>

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<p dir="ltr" lang="en">Delhi Metro for you! <a href="https://t.co/HA8z0g6AZZ">pic.twitter.com/HA8z0g6AZZ</a></p>
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<p>“Rightly pointed out. Our public infrastructure is not eco-friendly, not cost-friendly or beautiful, and many are not accessible as well. Not just metro stations or other public infrastructure as well. Nowadays private construction also totally messed up Aesthetics given least importance,” a user tweeted.</p>

<p>One more argued that public transportation didn't have to be 'beautiful'. Further extending the discussion, a user brought up the old Indian architecture.</p>

<p>As comments started coming in, Kapoor turned on the "account protection" feature, which lets users make their public accounts private.</p>

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Jet airways' Chief Executive Officer (CEO) Sanjiv Kapoor faced backlash from a section of Twitter for labelling Indian metros 'artless concrete eyesores,' when he made a comparison of a Bengaluru metro station with one in Dubai.

Jet airways' Chief Executive Officer (CEO) Sanjiv Kapoor faced backlash from a section of Twitter for labelling Indian metros 'artless concrete eyesores,' when he made a comparison of a Bengaluru metro station with one in Dubai. Kapoor shared a few images while criticising the poor quality of the design of several metro stations, including those in Gurugram and Bengaluru. This appeared to anger twitterati who then barraged his tweet comments with images of 'aesthetic' metro stations from all over the nation, reported the Hindustan Times. “Bangalore, Gurgaon, Kolkata... why are our overground/overhead metro stations such artless concrete eyesores? Take a look at Dubai (right) compared to Bangalore (left). And this Dubai station was probably built 10 years ago!" tweeted Kapoor. As popular as the tweet became, some people lashed out at Kapoor for his "inability to appreciate the country's infrastructure developments," while others agreed with him to some extent and said that metros in this country lacked an "eco-friendly" and "inclusivity" approach. ALSO READ | MEA lodges 'strong protest' with UK after Indian mission is vandalised by Khalistani extremists One user simply posted pictures of various Delhi metro stations with beautiful artwork and the statement "Delhi metro for you!" Delhi Metro for you! pic.twitter.com/HA8z0g6AZZ — Rahul Kapoor (@okwithrk) March 18, 2023 × “Rightly pointed out. Our public infrastructure is not eco-friendly, not cost-friendly or beautiful, and many are not accessible as well. Not just metro stations or other public infrastructure as well. Nowadays private construction also totally messed up Aesthetics given least importance,” a user tweeted. One more argued that public transportation didn't have to be 'beautiful'. Further extending the discussion, a user brought up the old Indian architecture. As comments started coming in, Kapoor turned on the "account protection" feature, which lets users make their public accounts private. WATCH WION LIVE HERE:

'Artless concrete eyesores': Jet airways' CEO criticises design of Indian metro stations, faces flak

<p>Is he for real? Indeed, no one really knows because Elon Musk frequently tweets 'bombshells' that indicate outlandish ideas. What then did the CEO of Tesla do this time? Elon Musk, the CEO of Twitter, has said that he is open to the possibility of purchasing the defunct Silicon Valley Bank. He made these comments in response to a Tweet from Razer co-founder and CEO Min-Liang Tan. Tan recommended that Musk acquire the bank and transform it into a digital bank.</p>

<p>WATCH | <a href="https://www.wionews.com/world/watch-bizarre-is-it-raining-worms-in-china-570896">BIZARRE! Is it raining worms in China?</a></p>

<p>"I think Twitter should buy SVB and become a digital bank," he wrote on Twitter.&nbsp;In response to this, Musk wrote, "I’m open to the idea."</p>

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<p>His remarks rapidly gained traction online. It drew a slew of interesting reactions from netizens. One user wrote, "It would certainly kickstart Twitter as a financial institution. Perhaps?"&nbsp;</p>

<p>Another user joked, "Yeah, give him something to keep him busy. He barely has anything to do."</p>

<p>One Twitter user even went on to suggest a new name for SVB, "The Bank of Elon, Musk Bank, Bank X, Blue Bird Bank, I can keep going."&nbsp;</p>

<p>Also Read | <a href="https://www.wionews.com/india-news/1993-mumbai-blasts-30-years-on-a-scar-on-indian-city-that-still-cuts-deep-570949">1993 Mumbai blasts: 30 years on, scar of terror on Indian megacity still cuts deep</a></p>

<p>Musk, the founder of Tesla Inc. and SpaceX, acquired Twitter for $44 billion in a very contentious deal.</p>

<p>Silicon Valley Bank stated on Friday that it will be ceasing operations after the lender's statement that it would raise $2 billion in capital to cover losses sparked a significant sell-off.&nbsp;</p>

<p>Watch | <a href="https://www.wionews.com/videos/foreign-minister-bilawal-bhutto-admits-pakistan-unable-to-get-uns-attention-on-kashmir-570886">Foreign minister Bilawal Bhutto admits Pakistan unable to get UN’s attention on Kashmir</a></p>

<p>Following the bank's announcement, the crisis developed in just 48 hours. It caused an aggressive decline in its stock that resulted in a market loss of over $80 billion but also sparked panic among depositors and clients. Many startups and venture capital firms rushed to withdraw their money.=</p>

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Is he for real? Indeed, no one really knows because Elon Musk frequently tweets 'bombshells' that indicate outlandish ideas. What then did the CEO of Tesla do this time?

Is he for real? Indeed, no one really knows because Elon Musk frequently tweets 'bombshells' that indicate outlandish ideas. What then did the CEO of Tesla do this time? Elon Musk, the CEO of Twitter, has said that he is open to the possibility of purchasing the defunct Silicon Valley Bank. He made these comments in response to a Tweet from Razer co-founder and CEO Min-Liang Tan. Tan recommended that Musk acquire the bank and transform it into a digital bank. WATCH | BIZARRE! Is it raining worms in China? "I think Twitter should buy SVB and become a digital bank," he wrote on Twitter. In response to this, Musk wrote, "I’m open to the idea." His remarks rapidly gained traction online. It drew a slew of interesting reactions from netizens. One user wrote, "It would certainly kickstart Twitter as a financial institution. Perhaps?" Another user joked, "Yeah, give him something to keep him busy. He barely has anything to do." One Twitter user even went on to suggest a new name for SVB, "The Bank of Elon, Musk Bank, Bank X, Blue Bird Bank, I can keep going." Also Read | 1993 Mumbai blasts: 30 years on, scar of terror on Indian megacity still cuts deep Musk, the founder of Tesla Inc. and SpaceX, acquired Twitter for $44 billion in a very contentious deal. Silicon Valley Bank stated on Friday that it will be ceasing operations after the lender's statement that it would raise $2 billion in capital to cover losses sparked a significant sell-off. Watch | Foreign minister Bilawal Bhutto admits Pakistan unable to get UN’s attention on Kashmir Following the bank's announcement, the crisis developed in just 48 hours. It caused an aggressive decline in its stock that resulted in a market loss of over $80 billion but also sparked panic among depositors and clients. Many startups and venture capital firms rushed to withdraw their money.= 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.

For real? Tesla CEO Elon Musk teases buying collapsed Silicon Valley Bank

Now, experts says that the true origin of pandemic may not be known for many years. China has consistently denied a lab leak in Wuhan. Calling the allegations defamatory the Communist party of China has warned Elon Musk. China is warning Twitter CEO Elon Musk against sharing posts that promote the lab leak theory of the coronavirus.

China warns Tesla CEO Elon Musk after Covid lab leak comments

While the manufacturer of telecom equipment concentrates on ambitious growth, Nokia has announced intentions to update its brand identification for the first time in nearly 60 years, complete with a new logo.

CEO targets growth in networks, enterprise businesses; Nokia changes iconic logo

According to a regulatory filing, Steve Schwarzman, the CEO of Blackstone Inc., earned nearly $1.26 billion in pay and dividends in 2022. According to Friday's report, Schwarzman received $253.1 million in pay in addition to more than $1 billion in dividends from his Blackstone shares.

Blackstone CEO Schwarzman received dividend, $253 MN in compensation

Eskom Holdings SOC Ltd. said its chief executive officer will leave the beleaguered state-owned South African utility more than a month before planned, a day after he censured the government and the ruling African National Congress over corruption.

ESKOM Power Grid CEO steps down

Twitter CEO Elon Musk is making headlines, this time over the sacking of one of his principal engineers. Reports say he took this decision because he could not give a satisfactory answer as to why his social engagement numbers were tanking recently.

Reports: Twitter CEO Elon Musk fires principal engineer

<p>After a ban by US Congress in December on TikTok over reports that the application has access to user's sensitive data and that it is controlled by the Chinese government, many US states have&nbsp;blocked the Chinese app in recent months.&nbsp;This has prompted a strong response from TikTok CEO Shou Zi Chew who is now set to appear for the first time before Congress in March in a bid to testify.</p>

<p>Also Read | <a href="https://www.wionews.com/world/thousands-of-offshore-firms-owning-uk-property-yet-to-declare-real-owners-report-557408">Thousands of offshore firms owning UK property yet to declare real owners: Report</a></p>

<p>In a statement, Republican representative Cathy McMorris Rodgers confirmed that Chew will testify as the Chinese application continues to remain under the radar.&nbsp;</p>

<p>The crack down on TikTok is going to go full throttle as the US congress will plan to ban the app all across the country. House foreign affairs committee will vote on a bill over the same.</p>

<p>Also Read | <a href="https://www.wionews.com/world/barclays-ubs-under-radar-for-alleged-ties-with-russian-oligarchs-offshore-trusts-557401">Barclays, UBS under radar for alleged ties with Russian oligarch’s offshore trusts &nbsp;</a></p>

<p>“ByteDance-owned TikTok has knowingly allowed the ability for the Chinese Communist party to access American user data,” McMorris Rodgers said, reported Guardian.&nbsp;Regardless of the high pitch by the United States over banning the social media application, TikTok has denied all the claims saying, “The Chinese Communist party (CCP) has neither direct nor indirect control of ByteDance or TikTok."&nbsp;</p>

<p>WATCH | <a href="https://www.wionews.com/videos/gravitas-zelensky-calls-for-russia-to-be-banned-from-paris-olympics-557417">Zelensky calls for Russia to be banned from Paris Olympics</a></p>

<p>“We welcome the opportunity to set the record straight about TikTok, ByteDance and the commitments we are making to address concerns about US national security before the House committee on energy and commerce,” the spokesman added.&nbsp;</p>

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After a ban by US Congress in December on TikTok over reports that the application has access to user's sensitive data and that it is controlled by the Chinese government, many US states have blocked the Chinese app in recent months.

After a ban by US Congress in December on TikTok over reports that the application has access to user's sensitive data and that it is controlled by the Chinese government, many US states have blocked the Chinese app in recent months. This has prompted a strong response from TikTok CEO Shou Zi Chew who is now set to appear for the first time before Congress in March in a bid to testify. Also Read | Thousands of offshore firms owning UK property yet to declare real owners: Report In a statement, Republican representative Cathy McMorris Rodgers confirmed that Chew will testify as the Chinese application continues to remain under the radar. The crack down on TikTok is going to go full throttle as the US congress will plan to ban the app all across the country. House foreign affairs committee will vote on a bill over the same. Also Read | Barclays, UBS under radar for alleged ties with Russian oligarch’s offshore trusts “ByteDance-owned TikTok has knowingly allowed the ability for the Chinese Communist party to access American user data,” McMorris Rodgers said, reported Guardian. Regardless of the high pitch by the United States over banning the social media application, TikTok has denied all the claims saying, “The Chinese Communist party (CCP) has neither direct nor indirect control of ByteDance or TikTok." WATCH | Zelensky calls for Russia to be banned from Paris Olympics “We welcome the opportunity to set the record straight about TikTok, ByteDance and the commitments we are making to address concerns about US national security before the House committee on energy and commerce,” the spokesman added. 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.

TikTok CEO to testify before US Congress over data breach claims

Police in South Africa is investigating an alleged plot to poison the Chief Executive of a South African power utility. The South African energy company alleges that its outgoing CEO Andre De Ruyter drank a cup of coffee suspected to be laced with poison.

South African police investigate an alleged plot to poison Eskom's CEO with Cyanide

<p>A Business Today analysis has revealed&nbsp;that in the past 10&nbsp;years, salary increases for new hires in the IT sector have been more muted than those for their CEOs. While the pay for CEOs has skyrocketed by around 1500 per cent, that of new hires has climbed by just a little over 45 per cent.&nbsp;In contrast to the CEO compensation, which has increased by a staggering 1,492.27 per cent over the last ten years, freshers' incomes have increased by just 46.94 per cent, according to a review of the average remuneration packages of CEOs of IT companies and freshers.</p>

<p>Additionally, according to the Business Today analysis, the median compensation for CEOs has increased by 1,449.02 per cent&nbsp;while the typical salary for freshmen has only increased by 40&nbsp;per cent.</p>

<p><strong>Also read |</strong> <a href="https://www.wionews.com/india-news/explained-indias-financial-capital-mumbai-battles-measles-outbreak-over-500-infected-546831">Explained: India’s financial capital Mumbai battles measles outbreak, over 500 infected</a></p>

<p>This discrepancy in the salaries between the CEOs and those at the bottom of the pyramid is not lost on industry veterans. T.V. Mohandas Pai, former CFO and Board Member at Infosys, told Business Today, “There has been no increase in compensation for freshers. They are being paid the same `3.5-4 lakh that the companies were paying 10-12 years ago. During this time, the salary for managers and seniors has gone up 4x, 5x, 7x.”</p>

<p><strong>Also watch |&nbsp;Ukrainian President Volodymyr Zelenskyy holds talks with Indian PM Narendra Modi</strong></p>

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<p>Vineet Nayar, former CEO of HCL Tech shared&nbsp;similar views. He told Business Today&nbsp;"This is an unfortunate depreciation and understanding of the roles that employees play in an organisation's growth. &nbsp;We have not understood the fundamentals of management. The fundamentals of management is that if companies were to spend even part of their marketing budget on enthusing, encouraging, and enabling your employees, you would see 10x returns."</p>

<p>Data from TeamLease Digital research shows how out of proportion the wages are at both levels when comparing the CEO's compensation to that of a new hire in the same organisation. This ratio is 1,973 at Infosys, 2,111 at Wipro, 1,020 at HCL Technologies, 644 at Tech Mahindra, and 619 at TCS.</p>

<p>Former NASSCOM president Kiran Karnik observed that this discrepancy may be caused by the fact that current graduates and new hires lack the necessary abilities.</p>

<p>Karnik told Business Today, “I now speak across the board in aggregate terms, they(freshers) don't have the skills that the company needs. Very often they don't have the domain skills, they have to be trained in that. And most often they don't have what we call soft skills, working in teams, communicating in any language."</p>

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A Business Today analysis has revealed that in the past 10 years, salary increases for new hires in the IT sector have been more muted than those for their CEOs.

A Business Today analysis has revealed that in the past 10 years, salary increases for new hires in the IT sector have been more muted than those for their CEOs. While the pay for CEOs has skyrocketed by around 1500 per cent, that of new hires has climbed by just a little over 45 per cent. In contrast to the CEO compensation, which has increased by a staggering 1,492.27 per cent over the last ten years, freshers' incomes have increased by just 46.94 per cent, according to a review of the average remuneration packages of CEOs of IT companies and freshers. Additionally, according to the Business Today analysis, the median compensation for CEOs has increased by 1,449.02 per cent while the typical salary for freshmen has only increased by 40 per cent. Also read | Explained: India’s financial capital Mumbai battles measles outbreak, over 500 infected This discrepancy in the salaries between the CEOs and those at the bottom of the pyramid is not lost on industry veterans. T.V. Mohandas Pai, former CFO and Board Member at Infosys, told Business Today, “There has been no increase in compensation for freshers. They are being paid the same `3.5-4 lakh that the companies were paying 10-12 years ago. During this time, the salary for managers and seniors has gone up 4x, 5x, 7x.” Also watch | Ukrainian President Volodymyr Zelenskyy holds talks with Indian PM Narendra Modi Vineet Nayar, former CEO of HCL Tech shared similar views. He told Business Today "This is an unfortunate depreciation and understanding of the roles that employees play in an organisation's growth. We have not understood the fundamentals of management. The fundamentals of management is that if companies were to spend even part of their marketing budget on enthusing, encouraging, and enabling your employees, you would see 10x returns." Data from TeamLease Digital research shows how out of proportion the wages are at both levels when comparing the CEO's compensation to that of a new hire in the same organisation. This ratio is 1,973 at Infosys, 2,111 at Wipro, 1,020 at HCL Technologies, 644 at Tech Mahindra, and 619 at TCS. Former NASSCOM president Kiran Karnik observed that this discrepancy may be caused by the fact that current graduates and new hires lack the necessary abilities. Karnik told Business Today, “I now speak across the board in aggregate terms, they(freshers) don't have the skills that the company needs. Very often they don't have the domain skills, they have to be trained in that. And most often they don't have what we call soft skills, working in teams, communicating in any language." WATCH WION LIVE HERE:

India: Salaries of IT CEOs climbed by 1,500% compared to only 50% for new hires, says report

In a poll put out by Elon Musk himself, Twitter users vote overwhelmingly asking him to step down as Twitter CEO. Musk promised to abide by the results of the poll. So, will the 'Chief Twit' now resign? Priyanka Sharma tells you more.

Gravitas: 'Time to go', Twitter users tell Elon Musk

<p lang="EN-US" paraeid="{3f908ad8-38d1-40c9-a0ca-b840818bbd32}{81}" paraid="1411538364" >The users on Twitter have voted in favour of billionaire Elon Musk stepping down as the CEO of the social media platform. Musk conducted a poll on Sunday where he asked "Should I step down as head of Twitter? I will abide by the results of this poll". On Monday, the final results showed that over 9.86 million users voted in favour of his removal with just 42.5 per cent voting against the proposal.&nbsp;</p>

<p lang="EN-US" paraeid="{7df83aba-e837-4007-b64d-1ca980e6a7f8}{67}" paraid="424908055" >Musk became the CEO of the company after his $44 billion takeover which was finally completed after a series of controversies. While Musk earlier refused to complete the deal over the number of fake users on Twitter, he finally agreed to the previous deal and promised more power to “freedom of speech”.&nbsp;</p>

<p lang="EN-US" paraeid="{7df83aba-e837-4007-b64d-1ca980e6a7f8}{67}" paraid="424908055" >Also read |&nbsp;<a href="https://www.wionews.com/world/russia-china-to-hold-joint-naval-drills-in-a-bid-to-strengthen-cooperation-544519">Russia, China to hold joint naval drills in a bid to 'strengthen cooperation'</a></p>

<p lang="EN-US" paraeid="{3f908ad8-38d1-40c9-a0ca-b840818bbd32}{89}" paraid="635198255" >If Musk indeed sticks to his word, he will step down from his position. However, he is the majority owner of the company and no one currently can force him out of the company against his will.&nbsp;</p>

<p lang="EN-US" paraeid="{6c4af91a-9710-4554-89cb-d99302527ec4}{215}" paraid="828391327" >On Sunday, Musk posted about the lack of successors when it comes to leading Twitter.&nbsp;</p>

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<p dir="ltr" lang="en">Should I step down as head of Twitter? I will abide by the results of this poll.</p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1604617643973124097?ref_src=twsrc%5Etfw">December 18, 2022</a></blockquote>
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<p>“No one wants the job who can actually keep Twitter alive,”&nbsp;he tweeted. &nbsp;</p>

<p lang="EN-US" paraeid="{5dc3d427-a1fd-4310-95d2-83ab2aacd2c7}{7}" paraid="194856654" >“There is no successor.”&nbsp;&nbsp;</p>

<p lang="EN-US" paraeid="{5dc3d427-a1fd-4310-95d2-83ab2aacd2c7}{7}" paraid="194856654" ><strong>WATCH |&nbsp;Taiwan launches probe into TikTok for spreading disinformation</strong></p>

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<p lang="EN-US" paraeid="{5dc3d427-a1fd-4310-95d2-83ab2aacd2c7}{27}" paraid="1487310165" >While replying to a user, he replied -&nbsp;“You must like pain a lot. One catch: you have to invest your life savings in Twitter and it has been in the fast lane to bankruptcy since May. Still want the job?”&nbsp;</p>

<p lang="EN-US" paraeid="{3f908ad8-38d1-40c9-a0ca-b840818bbd32}{97}" paraid="1812635417" >Musk has been the CEO of Twitter for around 50 days and the platform has already come under a lot of fire on the global stage. Musk decided to suspend the accounts belonging to over a dozen journalists from various publications after blaming them for revealing the location of his family.&nbsp;</p>

<p lang="EN-US" paraeid="{1b09e6e7-24d0-4b12-aa1e-6948dd8aaaa7}{105}" paraid="1336762992" >While the journalists were reinstated within a day, the move drew criticism from various major institutions with even the United Nations expressing their concern.&nbsp;</p>

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The users on Twitter have voted in favour of billionaire Elon Musk stepping down as the CEO of the social media platform. Musk conducted a poll on Sunday where he asked "Should I step down as head of Twitter?

The users on Twitter have voted in favour of billionaire Elon Musk stepping down as the CEO of the social media platform. Musk conducted a poll on Sunday where he asked "Should I step down as head of Twitter? I will abide by the results of this poll". On Monday, the final results showed that over 9.86 million users voted in favour of his removal with just 42.5 per cent voting against the proposal. Musk became the CEO of the company after his $44 billion takeover which was finally completed after a series of controversies. While Musk earlier refused to complete the deal over the number of fake users on Twitter, he finally agreed to the previous deal and promised more power to “freedom of speech”. Also read | Russia, China to hold joint naval drills in a bid to 'strengthen cooperation' If Musk indeed sticks to his word, he will step down from his position. However, he is the majority owner of the company and no one currently can force him out of the company against his will. On Sunday, Musk posted about the lack of successors when it comes to leading Twitter. Should I step down as head of Twitter? I will abide by the results of this poll. — Elon Musk (@elonmusk) December 18, 2022 × “No one wants the job who can actually keep Twitter alive,” he tweeted. “There is no successor.” WATCH | Taiwan launches probe into TikTok for spreading disinformation While replying to a user, he replied - “You must like pain a lot. One catch: you have to invest your life savings in Twitter and it has been in the fast lane to bankruptcy since May. Still want the job?” Musk has been the CEO of Twitter for around 50 days and the platform has already come under a lot of fire on the global stage. Musk decided to suspend the accounts belonging to over a dozen journalists from various publications after blaming them for revealing the location of his family. While the journalists were reinstated within a day, the move drew criticism from various major institutions with even the United Nations expressing their concern.

Twitter users vote in favour of removing Elon Musk as CEO

<p>At a town hall meeting on Wednesday, the CEO of The Washington Post, Fred Ryan, announced that there would be some layoffs in the first quarter of 2023 before leaving and skipping several important concerns from the audience.The Jeff Bezos-owned news organisation made the decision to shut shop on its Sunday magazine and lay off 11 employees.&nbsp;&nbsp;</p>

<p>Ryan left the meeting, which was scheduled to last an hour, as soon as he disclosed the information of the impending layoffs. Washington Post Guild, the newspaper's employee organisation, posted a video of the CEO appearing to duck questions from the worried employees.</p>

<p>“Today, we came into WaPo’s so-called town hall with questions about recent <a href="https://www.wionews.com/world/ex-ceo-of-ftx-sam-bankman-fried-applies-for-bail-again-after-losing-first-bid-report-543530">layoffs</a> and the future of the company. Our publisher dropped a bombshell on us by announcing more layoffs and then walking out, refusing to answer any of our questions,” the Guild said in a series of tweets.</p>

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<p dir="ltr" lang="en">Today, we came into WaPo’s so-called town hall with questions about recent layoffs and the future of the company.<br />
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Our publisher dropped a bombshell on us by announcing more layoffs and then walking out, refusing to answer any of our questions. <a href="https://t.co/ajNZsZKOBr">pic.twitter.com/ajNZsZKOBr</a></p>
— Washington Post Guild (@PostGuild) <a href="https://twitter.com/PostGuild/status/1603142794612203521?ref_src=twsrc%5Etfw">December 14, 2022</a></blockquote>
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<p>The CEO also stated that the renowned news organisation will reduce its employment by a "single-digit" proportion, affecting close to 2,500 employees.</p>

<p><strong>Also read |</strong>&nbsp;<a href="https://www.wionews.com/photos/layoffs-in-2022-the-year-tech-firms-workers-would-rather-forget-543679">Layoffs in 2022: The year tech firms, workers would rather forget</a></p>

<p>Concerned employees could be heard asking questions on The Post's plan to protect people's jobs and reassure them.</p>

<p>“Why can’t our publisher give us the transparency we hold as the central tenet of this news organization? How can he turn his back on workers with urgent questions and valid concerns?" the Guild tweeted.</p>

<p>The Guild added that The Post employees have top notch skills, extensive experience, and institutional knowledge that make them unique.</p>

<p><em>(With inputs from agencies)</em></p>

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At a town hall meeting on Wednesday, the CEO of The Washington Post, Fred Ryan, announced that there would be some layoffs in the first quarter of 2023 before leaving and skipping several important concerns from the audience.

At a town hall meeting on Wednesday, the CEO of The Washington Post, Fred Ryan, announced that there would be some layoffs in the first quarter of 2023 before leaving and skipping several important concerns from the audience.The Jeff Bezos-owned news organisation made the decision to shut shop on its Sunday magazine and lay off 11 employees. Ryan left the meeting, which was scheduled to last an hour, as soon as he disclosed the information of the impending layoffs. Washington Post Guild, the newspaper's employee organisation, posted a video of the CEO appearing to duck questions from the worried employees. “Today, we came into WaPo’s so-called town hall with questions about recent layoffs and the future of the company. Our publisher dropped a bombshell on us by announcing more layoffs and then walking out, refusing to answer any of our questions,” the Guild said in a series of tweets. Today, we came into WaPo’s so-called town hall with questions about recent layoffs and the future of the company. Our publisher dropped a bombshell on us by announcing more layoffs and then walking out, refusing to answer any of our questions. pic.twitter.com/ajNZsZKOBr — Washington Post Guild (@PostGuild) December 14, 2022 × The CEO also stated that the renowned news organisation will reduce its employment by a "single-digit" proportion, affecting close to 2,500 employees. Also read | Layoffs in 2022: The year tech firms, workers would rather forget Concerned employees could be heard asking questions on The Post's plan to protect people's jobs and reassure them. “Why can’t our publisher give us the transparency we hold as the central tenet of this news organization? How can he turn his back on workers with urgent questions and valid concerns?" the Guild tweeted. The Guild added that The Post employees have top notch skills, extensive experience, and institutional knowledge that make them unique. (With inputs from agencies) WATCH WION LIVE HERE:

WATCH: Washington Post CEO announces impending layoffs, leaves meeting midway infuriating employees

<p>John Ray, the new CEO of embattled crypto exchange FTX is getting paid USD 1300 per hour, court filings in a US court have revealed. Ray took reins of FTX after its spectacular and very recent collapse. Previous CEO Sam Bankman-Fried is currently facing charges of fraud while he negotiates with authorities in the Bahamas to secure a bail.</p>

<p>Ray and his close-knit team in-charge of bankruptcy restructuring at FTX are not regular employees. The team are&nbsp;what is called professional independent contractors. This means they get paid immediately, even before FTX investors get their money back.</p>

<p>USD 1300 per hour comes to USD 2.6 million annually.</p>

<p>This is not first bankruptcy restructing for Ray and his team. They have worked on bankruptcy restructuring of Enron in 2005. He also has a tight-knit team which has worked with him through years. The team has worked with him at Enron, Nortel (2009) and at Overseas Shipbuilding Group (2014)</p>

<p>The team includes Kathryn Shultea who is the chief administrative officer, Mary Cilia who is chief financial officer and Raj Perubhatla who is chief information officer.&nbsp;</p>

<p>For the team, FTX is shelling out USD 975 per hour. This comes to USD 5.85 million annually.</p>

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John Ray, the new CEO of embattled crypto exchange FTX is getting paid USD 1300 per hour, court filings in a US court have revealed. Ray took reins of FTX after its spectacular and very recent collapse.

John Ray, the new CEO of embattled crypto exchange FTX is getting paid USD 1300 per hour, court filings in a US court have revealed. Ray took reins of FTX after its spectacular and very recent collapse. Previous CEO Sam Bankman-Fried is currently facing charges of fraud while he negotiates with authorities in the Bahamas to secure a bail. Ray and his close-knit team in-charge of bankruptcy restructuring at FTX are not regular employees. The team are what is called professional independent contractors. This means they get paid immediately, even before FTX investors get their money back. USD 1300 per hour comes to USD 2.6 million annually. This is not first bankruptcy restructing for Ray and his team. They have worked on bankruptcy restructuring of Enron in 2005. He also has a tight-knit team which has worked with him through years. The team has worked with him at Enron, Nortel (2009) and at Overseas Shipbuilding Group (2014) The team includes Kathryn Shultea who is the chief administrative officer, Mary Cilia who is chief financial officer and Raj Perubhatla who is chief information officer. For the team, FTX is shelling out USD 975 per hour. This comes to USD 5.85 million annually. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

New CEO of collapsed crypto exchange FTX is earning $1300 per hour

<p>Andy Stone,&nbsp;Meta spokesperson&nbsp;claimed in a tweet on Tuesday that a report that Mark Zuckerberg would step down as the&nbsp;CEO next year&nbsp;was untrue.&nbsp;The Leak, a news outlet, had earlier in the day cited an anonymous insider source in its allegation that Zuckerberg would step down in 2023. The news briefly caused the company's shares to increase by 1 per cent.&nbsp;</p>

<p>According to a source familiar with Meta's plans, it was the Leak portal that originally reported that "Zuckerberg is set to resign next year."&nbsp;</p>

<p>Zuckerberg has opted to step down personally, and his multibillion-dollar project, "metaverse," won't be affected, the report said.</p>

<p>Late on Tuesday, Andy Stone, the director of communications at Meta, tweeted that the claim was untrue.&nbsp;</p>

<p>It is rumoured that Zuckerberg is committed to aggressively promoting his Metaverse concept despite the major reservations voiced by investors and industry professionals.&nbsp;</p>

<p>Also Read:&nbsp;<a href="https://www.wionews.com/world/over-100-pristine-indonesian-islands-up-for-auction-536721">Over 100 pristine Indonesian islands up for auction</a></p>

<p>After terminating over 11,000 employees and extending a recruiting freeze at Meta, Zuckerberg issued an apology.</p>

<p>About 13 per cent&nbsp;of the global staff of Meta was let go, making this one of the biggest layoffs in the history of the tech sector.&nbsp;</p>

<p>Investors are starting to lose faith in the company's billion-dollar, loss-making metaverse dream after it reported another quarterly revenue dip.&nbsp;</p>

<p>In the third quarter, Meta's revenue plummeted to $27.7 billion, a four per cent&nbsp;year-over-year reduction (Q3). In comparison to last year, the corporation reported a net income of $4.395 billion, a decrease from $9.194 billion.</p>

<p><em>(with inputs from agencies)</em></p>

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Andy Stone, Meta spokesperson claimed in a tweet on Tuesday that a report that Mark Zuckerberg would step down as the CEO next year was untrue. The Leak, a news outlet, had earlier in the day cited an anonymous insider source in its allegation that Zuckerberg would step down in 2023.

Andy Stone, Meta spokesperson claimed in a tweet on Tuesday that a report that Mark Zuckerberg would step down as the CEO next year was untrue. The Leak, a news outlet, had earlier in the day cited an anonymous insider source in its allegation that Zuckerberg would step down in 2023. The news briefly caused the company's shares to increase by 1 per cent. According to a source familiar with Meta's plans, it was the Leak portal that originally reported that "Zuckerberg is set to resign next year." Zuckerberg has opted to step down personally, and his multibillion-dollar project, "metaverse," won't be affected, the report said. Late on Tuesday, Andy Stone, the director of communications at Meta, tweeted that the claim was untrue. It is rumoured that Zuckerberg is committed to aggressively promoting his Metaverse concept despite the major reservations voiced by investors and industry professionals. Also Read: Over 100 pristine Indonesian islands up for auction After terminating over 11,000 employees and extending a recruiting freeze at Meta, Zuckerberg issued an apology. About 13 per cent of the global staff of Meta was let go, making this one of the biggest layoffs in the history of the tech sector. Investors are starting to lose faith in the company's billion-dollar, loss-making metaverse dream after it reported another quarterly revenue dip. In the third quarter, Meta's revenue plummeted to $27.7 billion, a four per cent year-over-year reduction (Q3). In comparison to last year, the corporation reported a net income of $4.395 billion, a decrease from $9.194 billion. (with inputs from agencies)

Report of CEO Zuckerberg stepping down next year false: Meta spokesperson

<p>HSBC made a surprise move and named Georges Elhedery as its new chief financial officer (CFO) on Tuesday. The former head of the investment bank is now in the pole position to eventually succeed Noel Quinn as CEO.&nbsp;</p>

<p>The change came as HSBC's profits were knocked by a 42% slide in the third quarter, the result of loan losses and charges from the sale of its French business as it seeks to placate investors including China's Ping An Insurance Group.</p>

<p>HSBC stock, which fell as much as 8%, was on track for its worst single day performance since April 2020 as investors digested the sudden CFO shift and muted performance forecasts.</p>

<p>Lebanese-born Elhedery, who is a French passport holder had gone on six-month sabbatical from HSBC in January. He had stated that he wanted to travel with his family and explore personal interests.</p>

<p>Quinn said that while departing CFO Ewen Stevenson had done a good restructuring job over three years, the London-headquartered bank had succession in mind, effectively putting 48-year-old Elhedery at the front of the queue to be CEO.</p>

<p>"There is no change in strategy as a consequence of these leadership changes," Quinn, 60, said. "This is about how the group executive committee is positioned with potential succession options for the future," he told Reuters.</p>

<p>Former investment banker Stevenson, 56, who will leave HSBC next year, told Reuters he was "looking forward to some time off and thinking about future options".</p>

<p>"Stevenson was undoubtedly seen as doing a great job amongst the investor community," said John Cronin, analyst at Goodbody.</p>

<p>"His exit is most certainly a surprise and it smells of a fallout at the top management level in terms of direction of travel for HSBC - which will raise many questions," he said.</p>

<p><em>(With inputs from agencies)</em></p>

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HSBC made a surprise move and named Georges Elhedery as its new chief financial officer (CFO) on Tuesday. The former head of the investment bank is now in the pole position to eventually succeed Noel Quinn as CEO.

HSBC made a surprise move and named Georges Elhedery as its new chief financial officer (CFO) on Tuesday. The former head of the investment bank is now in the pole position to eventually succeed Noel Quinn as CEO. The change came as HSBC's profits were knocked by a 42% slide in the third quarter, the result of loan losses and charges from the sale of its French business as it seeks to placate investors including China's Ping An Insurance Group. HSBC stock, which fell as much as 8%, was on track for its worst single day performance since April 2020 as investors digested the sudden CFO shift and muted performance forecasts. Lebanese-born Elhedery, who is a French passport holder had gone on six-month sabbatical from HSBC in January. He had stated that he wanted to travel with his family and explore personal interests. Quinn said that while departing CFO Ewen Stevenson had done a good restructuring job over three years, the London-headquartered bank had succession in mind, effectively putting 48-year-old Elhedery at the front of the queue to be CEO. "There is no change in strategy as a consequence of these leadership changes," Quinn, 60, said. "This is about how the group executive committee is positioned with potential succession options for the future," he told Reuters. Former investment banker Stevenson, 56, who will leave HSBC next year, told Reuters he was "looking forward to some time off and thinking about future options". "Stevenson was undoubtedly seen as doing a great job amongst the investor community," said John Cronin, analyst at Goodbody. "His exit is most certainly a surprise and it smells of a fallout at the top management level in terms of direction of travel for HSBC - which will raise many questions," he said. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

HSBC appoints former investment bank head Georges Elhedery as CFO, potential CEO-in-waiting

<p>The CEO of the messaging platform&nbsp;Slack&nbsp;believes that businesses should reconsider how employees spend their time at work. With the popularity of hybrid working, many people now split their workweek between being at home and going to the office.</p>

<p>Stewart Butterfield, the CEO of Slack, contends that working in office should be a chance to accomplish tasks that are impossible to complete at home. Not one of them, he claims, is working at a desk while using headphones.</p>

<p>It goes without saying that the CEO of an online messaging service won't go so far as to advise colleagues to leave their laptops at home, but he does remark that doing so would "draw a sharp line in the sand about what the purpose of being together is."</p>

<p>The US, Canada, Japan, Australia, and India all host Slack's corporate offices, reports BBC.&nbsp;</p>

<p>Reflecting on its offices before the pandemic,&nbsp;Butterfield says: "The 80% of the floor space that we dedicated to kind of factory-farm, battery-chicken housing for people to use their desks all by themselves and listen to their headphones, and not talk to anyone else... was a bit of a waste."</p>

<p><strong>Also read |</strong>&nbsp;<a href="https://www.wionews.com/business-economy/employees-who-work-4-days-a-week-dedicate-new-free-time-to-sleep-study-521214">Employees who work 4 days a week dedicate additional free time to sleep: Study</a></p>

<p>He claims that ongoing changes are making the Slack office more like a social club since he wants employees to come to work to collaborate and for&nbsp;connections in person.</p>

<p>"The best thing we can do is create a comfortable <a href="https://www.wionews.com/world/new-zealands-marine-report-microplastics-found-in-75-of-fish-90-of-seabirds-on-the-verge-of-extinction-524999">environment</a> for people to come together and actually enjoy themselves," he says.</p>

<p>In addition, he believes that young individuals just starting their careers often prefer to work in an office environment with their peers and recognises that some people will choose to work full-time in an office setting because they cannot or do not want to work from home.</p>

<p>Butterfield is really not a huge admirer of meetings.</p>

<p>He supports Jeff Bezos's proposal from <a href="https://www.wionews.com/world/report-billionaire-philanthropist-mackenzie-scott-donates-15-million-to-help-provide-affordable-glasses-525143">Amazon</a>, wherein attendees read a six-page document as a briefing note at the beginning of a meeting rather than listening to PowerPoint presentations.</p>

<p>"There probably are 20% or 30% (of meetings) that don't actually have to be meetings, that would be more effective with written communication," he says, in a nod to the internet meme "this meeting should have been an email".</p>

<p>He also supports "asynchronous work," which minimises the need for information to be shared in real time.</p>

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The CEO of the messaging platform Slack believes that businesses should reconsider how employees spend their time at work. With the popularity of hybrid working, many people now split their workweek between being at home and going to the office.

The CEO of the messaging platform Slack believes that businesses should reconsider how employees spend their time at work. With the popularity of hybrid working, many people now split their workweek between being at home and going to the office. Stewart Butterfield, the CEO of Slack, contends that working in office should be a chance to accomplish tasks that are impossible to complete at home. Not one of them, he claims, is working at a desk while using headphones. It goes without saying that the CEO of an online messaging service won't go so far as to advise colleagues to leave their laptops at home, but he does remark that doing so would "draw a sharp line in the sand about what the purpose of being together is." The US, Canada, Japan, Australia, and India all host Slack's corporate offices, reports BBC. Reflecting on its offices before the pandemic, Butterfield says: "The 80% of the floor space that we dedicated to kind of factory-farm, battery-chicken housing for people to use their desks all by themselves and listen to their headphones, and not talk to anyone else... was a bit of a waste." Also read | Employees who work 4 days a week dedicate additional free time to sleep: Study He claims that ongoing changes are making the Slack office more like a social club since he wants employees to come to work to collaborate and for connections in person. "The best thing we can do is create a comfortable environment for people to come together and actually enjoy themselves," he says. In addition, he believes that young individuals just starting their careers often prefer to work in an office environment with their peers and recognises that some people will choose to work full-time in an office setting because they cannot or do not want to work from home. Butterfield is really not a huge admirer of meetings. He supports Jeff Bezos's proposal from Amazon, wherein attendees read a six-page document as a briefing note at the beginning of a meeting rather than listening to PowerPoint presentations. "There probably are 20% or 30% (of meetings) that don't actually have to be meetings, that would be more effective with written communication," he says, in a nod to the internet meme "this meeting should have been an email". He also supports "asynchronous work," which minimises the need for information to be shared in real time. WATCH WION LIVE TV HERE:

Office time is not for video calls, employees must collaborate, connect in person: Slack CEO

Top American CEOs are bracing for a recession in 2023, with 66% of them expecting it to be long and painful. UN agencies are blaming western interest hikes for the looming economic slowdown.

Gravitas: Top CEOs bracing for recession in 2023

Yet another Indian-American has now become the CEO of a top global firm coffee chain. Starbucks has appointed Laxman Narasimhan, the Chief Executive Officer of Ben Carson group as its next CEO. With this, Starbucks has chosen a consumer industry veteran to start a new path.

Starbucks names Laxman Narasimhan as the next CEO

<p paraeid="{ef62fb23-b809-4ccc-a64c-07fc32eb041d}{220}" paraid="1678779816" >Indian-origin Laxman Narasimhan will be replacing Howard Schultz as the new Chief Executive Officer (CEO) of Coffee giant&nbsp;Starbucks, the company announced on Thursday. Laxman, who was formerly the CEO of Reckitt – makers of Durex condoms and Mucinex cold syrup, will join the company on October 1.&nbsp;</p>

<p paraeid="{377a4280-1392-42c2-910a-3d0fc43d20f8}{195}" paraid="1103290802" >Schultz, who has served as Starbucks CEO on multiple occasions, will be staying with the company as interim chief till 2023 and then, will&nbsp;continue as a member of the Board of Directors.&nbsp;</p>

<p paraeid="{377a4280-1392-42c2-910a-3d0fc43d20f8}{195}" paraid="1103290802" >Also read |&nbsp;<a href="https://www.wionews.com/world/donald-trump-and-his-supporters-are-threat-to-democracy-says-joe-biden-512218" hreflang="en">Donald Trump and his supporters are 'threat to democracy', says Joe Biden</a></p>

<p paraeid="{06187d16-f8a5-4042-880a-491b405b46ca}{227}" paraid="708045695" >Narasimhan, born in Pune, India earned his degree in mechanical engineering from the&nbsp;Savitribai Phule Pune University. He moved to the United States for further studies and completed his MA in German and International Studies from The Lauder Institute at the University of Pennsylvania, and an MBA in Finance from the&nbsp;Wharton School&nbsp;at the&nbsp;University of Pennsylvania, according to AFP.&nbsp;</p>

<p paraeid="{7f22bc4e-4088-4810-94a2-b7df218690f9}{167}" paraid="1978955119" >Schulz was all praise for his successor as he called Laxman the “right leader to take Starbucks into its next chapter”. He also praised Laxman for his “partner-centred approach” and “track record”.&nbsp;</p>

<p paraeid="{7f22bc4e-4088-4810-94a2-b7df218690f9}{167}" paraid="1978955119" >Also read |&nbsp;<a href="https://www.wionews.com/world/us-russia-nuclear-weapons-inspection-must-as-per-new-start-treaty-says-us-512208">US-Russia nuclear weapons inspection must as per New START Treaty, says US</a></p>

<p paraeid="{53c174f8-fbff-401d-808d-a1c3b364ffeb}{146}" paraid="1583634881" >“When I learned about Laxman’s desire to relocate, it became apparent that he is the right leader to take Starbucks into its next chapter. He is uniquely positioned to shape this work and lead the company forward with his partner-centred approach and demonstrated track record of building capabilities and driving growth in both mature and emerging markets,” he said according to the Starbucks statement.&nbsp;</p>

<p paraeid="{1e294e44-d336-40ce-9c12-6864758eb5ea}{38}" paraid="257383631" >Narasimhan served as the Reckitt CEO from September 2019 and previously, he was also the Chief Business Officer at Pepsi Co. He was also a member of British prime minister Boris Johnson’s Build Back Better Council which was aimed at “economic recovery and growth across the UK”.&nbsp;</p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


Indian-origin Laxman Narasimhan will be replacing Howard Schultz as the new Chief Executive Officer (CEO) of Coffee giant Starbucks, the company announced on Thursday.

Indian-origin Laxman Narasimhan will be replacing Howard Schultz as the new Chief Executive Officer (CEO) of Coffee giant Starbucks, the company announced on Thursday. Laxman, who was formerly the CEO of Reckitt – makers of Durex condoms and Mucinex cold syrup, will join the company on October 1. Schultz, who has served as Starbucks CEO on multiple occasions, will be staying with the company as interim chief till 2023 and then, will continue as a member of the Board of Directors. Also read | Donald Trump and his supporters are 'threat to democracy', says Joe Biden Narasimhan, born in Pune, India earned his degree in mechanical engineering from the Savitribai Phule Pune University. He moved to the United States for further studies and completed his MA in German and International Studies from The Lauder Institute at the University of Pennsylvania, and an MBA in Finance from the Wharton School at the University of Pennsylvania, according to AFP. Schulz was all praise for his successor as he called Laxman the “right leader to take Starbucks into its next chapter”. He also praised Laxman for his “partner-centred approach” and “track record”. Also read | US-Russia nuclear weapons inspection must as per New START Treaty, says US “When I learned about Laxman’s desire to relocate, it became apparent that he is the right leader to take Starbucks into its next chapter. He is uniquely positioned to shape this work and lead the company forward with his partner-centred approach and demonstrated track record of building capabilities and driving growth in both mature and emerging markets,” he said according to the Starbucks statement. Narasimhan served as the Reckitt CEO from September 2019 and previously, he was also the Chief Business Officer at Pepsi Co. He was also a member of British prime minister Boris Johnson’s Build Back Better Council which was aimed at “economic recovery and growth across the UK”.

Indian-origin Laxman Narasimhan becomes new Starbucks CEO - Everything you need to know

Israeli spyware company NSO Group's CEO Shalev Hulio has stepped down. Yaron Shohat will lead the NSO Group until the board appoints a new CEO.

Israeli spyware company NSO Group's CEO steps down

Let us take a look at stories generating interest across WION's social media channels.

Trending on WION: CEO cries on LinkedIn after firing employees, gets mixed reactions

<p>The manner in which a company's CEO announced the termination of some of its employees on LinkedIn has generated discussion online. HyperSocial CEO Braden Wallake uploaded a picture of himself crying while explaining why he had to layoff part of his staff.</p>

<p>More than 13,000 people have liked and commented on the post in less than 14 hours. While some applauded Wallake for sharing his tale, others were not pleased with the manner in which he made his decision public.</p>

<p>In his opening statement, Wallake declared that this was the most exposed thing he had ever shared. He accepted responsibility for his conduct and admitted in the post that he debated whether or not to publish this.</p>

<p>Calling it the "most vulnerable thing" he'll ever share, Wallake wrote on LinkedIn, "I can't...think of...a lower moment than this." While some appreciated Wallake, others criticised him and wrote, "The post...would've done well without the picture."</p>

<p><strong><a href="https://www.linkedin.com/posts/bradenwallake_this-will-be-the-most-vulnerable-thing-ill-activity-6962886723617910784-_L4w?utm_source=linkedin_share&amp;utm_medium=member_desktop_web">"I just want people to see, that not every CEO out there is cold-hearted and doesn't care when he/she have to lay people off. I'm sure there are hundreds and thousands of others like me. The ones you don't see talked about," he wrote.</a></strong></p>

<p><br />
In response to a commenter, the CEO said that he would tag the fired workers in the article for helping them find new employment.</p>

<p><em>(With inputs from agencies)</em><br />
&nbsp;</p>

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The manner in which a company's CEO announced the termination of some of its employees on LinkedIn has generated discussion online. HyperSocial CEO Braden Wallake uploaded a picture of himself crying while explaining why he had to layoff part of his staff.

The manner in which a company's CEO announced the termination of some of its employees on LinkedIn has generated discussion online. HyperSocial CEO Braden Wallake uploaded a picture of himself crying while explaining why he had to layoff part of his staff. More than 13,000 people have liked and commented on the post in less than 14 hours. While some applauded Wallake for sharing his tale, others were not pleased with the manner in which he made his decision public. In his opening statement, Wallake declared that this was the most exposed thing he had ever shared. He accepted responsibility for his conduct and admitted in the post that he debated whether or not to publish this. Calling it the "most vulnerable thing" he'll ever share, Wallake wrote on LinkedIn, "I can't...think of...a lower moment than this." While some appreciated Wallake, others criticised him and wrote, "The post...would've done well without the picture." "I just want people to see, that not every CEO out there is cold-hearted and doesn't care when he/she have to lay people off. I'm sure there are hundreds and thousands of others like me. The ones you don't see talked about," he wrote. In response to a commenter, the CEO said that he would tag the fired workers in the article for helping them find new employment. (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.

CEO cries on LinkedIn after firing employees and gets mixed reactions

<p>A former employee of Better.com has filed a lawsuit against the company and its CEO, Vishal Garg, alleging that they made false claims to investors regarding the digital mortgage company's financial prospects and performance. Vishal Garg made headlines a year ago when he fired 900 employees over a Zoom call.</p>

<p>In her case, Sarah Pierce, a former executive vice-president of sales and operations at Better.com, claimed that Garg distorted the company's claims in order to persuade investors to proceed with an SPAC merger rather than withdraw owing to the company's financial situation.</p>

<p>Better.com's proposal to go public by merging with Aurora Acquisition Corp, a special-purpose acquisition company (SPAC), in a $7.7 billion deal was agreed upon last year but has yet to close. During the pandemic, SPAC acquisitions were one of the hottest investment trends as early-stage companies sought to go public.</p>

<p>According to the lawsuit, Pierce claims that she was fired from her job in February as a result of raising concerns about the sale. She's looking for monetary recompense.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/technology/i-embarrassed-you-bettercom-ceo-apologises-for-laying-off-900-via-zoom-call-435001">'I embarrassed you': Better.com CEO apologises for laying off 900 via zoom call</a></strong></p>

<p>Garg is accused of directing the faltering lender's bid to merge with a special-purpose acquisition company, or SPAC, according to reports. Garg had accused some of the terminated staff of "stealing" from the company by being unproductive after his well publicised mass dismissal on a video conference call in December.</p>

<p>Pierce claims she pressed the company to issue a statement addressing Garg's "misinformation" about the fired employees and approached him personally, stating that she "would not assist his false narrative."</p>

<p>According to the lawsuit, Garg is also accused of misleading investors and directors by telling them that the company would return to profitability in the first quarter of 2022, despite "Pierce and other top management plainly saying that this conclusion was not conceivable."<br />
&nbsp;</p>

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A former employee of Better.com has filed a lawsuit against the company and its CEO, Vishal Garg, alleging that they made false claims to investors regarding the digital mortgage company's financial prospects and performance.

A former employee of Better.com has filed a lawsuit against the company and its CEO, Vishal Garg, alleging that they made false claims to investors regarding the digital mortgage company's financial prospects and performance. Vishal Garg made headlines a year ago when he fired 900 employees over a Zoom call. In her case, Sarah Pierce, a former executive vice-president of sales and operations at Better.com, claimed that Garg distorted the company's claims in order to persuade investors to proceed with an SPAC merger rather than withdraw owing to the company's financial situation. Better.com's proposal to go public by merging with Aurora Acquisition Corp, a special-purpose acquisition company (SPAC), in a $7.7 billion deal was agreed upon last year but has yet to close. During the pandemic, SPAC acquisitions were one of the hottest investment trends as early-stage companies sought to go public. According to the lawsuit, Pierce claims that she was fired from her job in February as a result of raising concerns about the sale. She's looking for monetary recompense. Also read | 'I embarrassed you': Better.com CEO apologises for laying off 900 via zoom call Garg is accused of directing the faltering lender's bid to merge with a special-purpose acquisition company, or SPAC, according to reports. Garg had accused some of the terminated staff of "stealing" from the company by being unproductive after his well publicised mass dismissal on a video conference call in December. Pierce claims she pressed the company to issue a statement addressing Garg's "misinformation" about the fired employees and approached him personally, stating that she "would not assist his false narrative." According to the lawsuit, Garg is also accused of misleading investors and directors by telling them that the company would return to profitability in the first quarter of 2022, despite "Pierce and other top management plainly saying that this conclusion was not conceivable." 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.

Better.com CEO fired 900 on Zoom call, now being sued for 'misleading investors'

<p>To show how much it cares about its employees, an Indian IT firm gifted BMW cars, each costing around US $130,000, to honour their loyalty and commitment to the company.</p>

<p>Five senior executives of global software-as-a-service company Kissflow Inc, which is headquartered in southern Chennai city, received BMW 530d on Friday.</p>

<p>The company appreciated them for assisting their boss in 'digging gold' and making the firm weather the COVID-19 storm that threatened the firm’s existence, as even some of the investors were doubtful of the firm’s success.</p>

<p>According to Kissflow Inc CEO Suresh Sambandam, these five employees were with him right from the inception of the company and stayed with him during the course of the journey, news agency PTI reported.</p>

<p>“There were difficult times. Even during the pandemic, the investors were not sure whether this company will sustain and build a future. Today we are very happy that we have paid back the investors and now it has become a fully owned privately held company," he was quoted as saying.</p>

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<p>Notably, not many were aware of the event on Friday, even those who received the cars were kept in the dark.</p>

<p>All the employees who were present at the event reportedly thought that they were being called in to discuss the future of the company.</p>

<p>"The cars are for these five who were with me when I dug 100 feet for gold (setting up Kissflow while others left the organisation midway)," Sambandam said.</p>

<p>When asked if the other would be handsomely rewarded, Sambandam, owner of a BMW 6 Series vehicle said, "this is an inspiration to them. We want to motivate them (to perform much better). We take care of our employees much better".</p>

<p>"For example, there is no sick leave or casual leave here unlike other companies. It is just one leave for them. If they do not want to come and work, they can work from home. There is no attendance system like biometric system and all...we know our employees", he said.</p>

<p>(With inputs from agencies)</p>


To show how much it cares about its employees, an Indian IT firm gifted BMW cars, each costing around US $130,000, to honour their loyalty and commitment to the company.

To show how much it cares about its employees, an Indian IT firm gifted BMW cars, each costing around US $130,000, to honour their loyalty and commitment to the company. Five senior executives of global software-as-a-service company Kissflow Inc, which is headquartered in southern Chennai city, received BMW 530d on Friday. The company appreciated them for assisting their boss in 'digging gold' and making the firm weather the COVID-19 storm that threatened the firm’s existence, as even some of the investors were doubtful of the firm’s success. According to Kissflow Inc CEO Suresh Sambandam, these five employees were with him right from the inception of the company and stayed with him during the course of the journey, news agency PTI reported. “There were difficult times. Even during the pandemic, the investors were not sure whether this company will sustain and build a future. Today we are very happy that we have paid back the investors and now it has become a fully owned privately held company," he was quoted as saying. View this post on Instagram A post shared by Kissflow (@kissflowinc) × Notably, not many were aware of the event on Friday, even those who received the cars were kept in the dark. All the employees who were present at the event reportedly thought that they were being called in to discuss the future of the company. "The cars are for these five who were with me when I dug 100 feet for gold (setting up Kissflow while others left the organisation midway)," Sambandam said. When asked if the other would be handsomely rewarded, Sambandam, owner of a BMW 6 Series vehicle said, "this is an inspiration to them. We want to motivate them (to perform much better). We take care of our employees much better". "For example, there is no sick leave or casual leave here unlike other companies. It is just one leave for them. If they do not want to come and work, they can work from home. There is no attendance system like biometric system and all...we know our employees", he said. (With inputs from agencies)

Watch: This Indian IT firm gifted BMW cars to employees for their loyalty

<p>The International Cricket Council (ICC) CEO Geoff Allardice is aiming for cricket to be included in the Olympic Games curriculum, as it will result in the governments of respective countries to pay more attention to the game's facilities and also provide high-performance assistance for the growth of the sport in their countries.<br />
<br />
Allardice added that, as far as the ICC is concerned, it's "not a money-making exercise" for the global cricket governing body, but the move was to make respective governments stakeholders in the growth of the sport in their countries.</p>

<p>Women's Twenty20 cricket has been included at the 2022 Commonwealth Games at Birmingham following on from the men's competition at the Kuala Lumpur CWG in 1998.</p>

<p><strong>ALSO READ:&nbsp;</strong><a href="https://www.wionews.com/sports/ms-dhoni-celebrates-anniversary-of-icc-world-cup-2011-win-with-csk-teammates-467785">MS Dhoni celebrates anniversary of ICC World Cup 2011 win with CSK teammates</a><br />
<br />
"In many of our members, being seen as an Olympic sport and having an association with the government and the national Olympic movement is something that is going to be really beneficial in terms of facilities and high-performance assistance," Allardice told SEN's This Is Your Journey on Sunday.<br />
<br />
"It's certainly not a money-making exercise from our point of view, it's about getting exposure for cricket in markets where we may not be popular.<br />
<br />
"And the other one is about giving all of our 106 members the opportunity to engage more closely with their governments. In some countries, being an Olympic sport gets you closer to your government than not being an Olympic sport."</p>


The International Cricket Council (ICC) CEO Geoff Allardice is aiming for cricket to be included in the Olympic Games curriculum, as it will result in the governments of respective countries to pay more attention to the game's facilities and also provide high-performance assistance for the growth of the sport in their countries.

The International Cricket Council (ICC) CEO Geoff Allardice is aiming for cricket to be included in the Olympic Games curriculum, as it will result in the governments of respective countries to pay more attention to the game's facilities and also provide high-performance assistance for the growth of the sport in their countries. Allardice added that, as far as the ICC is concerned, it's "not a money-making exercise" for the global cricket governing body, but the move was to make respective governments stakeholders in the growth of the sport in their countries. Women's Twenty20 cricket has been included at the 2022 Commonwealth Games at Birmingham following on from the men's competition at the Kuala Lumpur CWG in 1998. ALSO READ: MS Dhoni celebrates anniversary of ICC World Cup 2011 win with CSK teammates "In many of our members, being seen as an Olympic sport and having an association with the government and the national Olympic movement is something that is going to be really beneficial in terms of facilities and high-performance assistance," Allardice told SEN's This Is Your Journey on Sunday. "It's certainly not a money-making exercise from our point of view, it's about getting exposure for cricket in markets where we may not be popular. "And the other one is about giving all of our 106 members the opportunity to engage more closely with their governments. In some countries, being an Olympic sport gets you closer to your government than not being an Olympic sport."

'It's about getting exposure': ICC CEO Geoff Allardice aims for inclusion of cricket in Olympic Games

FedEx is going to have a new CEO. Indian-American Raj Subramaniam to take over the leadership of the company. Raj will succeed the company founder as CEO.

Indian-American Raj Subramaniam to be FedEx's new CEO

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