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Photo: Bloomberg
Meta Platforms Inc is planning to begin large-scale layoffs this week that will affect thousands of employees, the Wall Street Journal reported on Sunday citing people familiar with the matter, with an announcement planned as early as Wednesday.
Facebook parent Meta in October forecasted a weak holiday quarter and significantly more costs next year wiping about $67 billion off Meta's stock market value, adding to the more than half a trillion dollars in value already lost this year.
The disappointing outlook comes as Meta is contending with slowing global economic growth, competition from TikTok, privacy changes from Apple, concerns about massive spending on the metaverse and the ever-present threat of regulation.
Nitin Gadkari to inaugurate 13 road projects worth Rs 5315 cr in MP today
Union Minister Nitin Gadkari and Madhya Pradesh Chief Minister Shivraj Singh Chouhan will lay the foundation stone and inaugurate 13 road projects worth Rs 5315 crore in Jabalpur and Mandla districts of Madhya Pradesh on Monday.
The Union Minister and CM Chouhan will lay the foundation stone of five road projects of 329 km worth Rs 1261 crores at Police Ground, Mandla. On the other hand, they will inaugurate eight road projects 214 km long costing Rs 4054 crores at Veterinary College Ground in Jabalpur.
Elon Musk threatens to permanently suspend Twitter account impersonators
Elon Musk tweeted Sunday that Twitter will permanently suspend any account on the social media platform that impersonates another.
The platform's new owner issued the warning after some celebrities changed their Twitter display names not their account names and tweeted as Elon Musk' in reaction to the billionaire's decision to offer verified accounts to all comers for $8 month.
Going forward, any Twitter handles engaging in impersonation without clearly specifying parody will be permanently suspended, Musk wrote. While Twitter previously issued warnings before suspensions, now that it is rolling out widespread verification, there will be no warning.
Congress's Bharat Jodo Yatra enters Maharashtra's Nanded from Telangana
Coal India reports 106% jump in profit at Rs 6,044 crore in Sept quarter
Karnataka Court orders blocking of Congress' Twitter account
Kerala Congress welcomes EWS order, ally IUML calls verdict worrisome
The Congress in Kerala on Monday welcomed the Supreme Court verdict on upholding the amendment providing 10 per cent reservation to people belonging to the economically weaker sections (EWS) while its United Democratic Front (UDF) ally, IUML, said the order was worrisome.
The Supreme Court by a majority view of 3:2 today upheld the validity of the 103rd Constitution amendment providing 10 per cent reservation to people belonging to the EWS category in admissions and government jobs.
"The Congress has been asking for this for a long time. We have always voiced for the reservation for the economically weaker sections in the community but this should not affect the reservation quota of other sections," state Congress chief K Sudhakaran told the reporters.
MCD polls 'crucial' not just for Delhi, but for entire country: Hardeep Puri
India will become a developed country by 2047 as per the vision of Prime Minister Narendra Modi where there is no place for "revri politics", Union minister Hardeep Singh Puri said on Monday, taking a dig at the AAP-led Delhi government.
He also said that the upcoming Municipal Corporation of Delhi (MCD) polls are "crucial" not just for the national capital, but for the entire country.
Puri was speaking after flagging off a fleet of video vans as part of the BJP's electoral campaign. Union minister Meenakshi Lekhi, Delhi BJP president Adesh Gupta and other senior party leaders were also present at the event.
Cong does not care for country's security, people's sentiments: Adityanath
The Congress could not have taken steps such as construction of the Ram temple, the surgical strike or the abrogation of Article 370 because it does not care for the country's security or the sentiments of people, Uttar Pradesh Chief Minister Yogi Adityanath said on Monday.
Campaigning for the BJP in this constituency in Himachal Pradesh's Una district, Adityanath said India is touching new heights under the leadership of Prime Minister Narendra Modi and the country's prestige has risen on the global stage, the PTI reported.
The BJP government at the Centre, he said at a rally, has taken landmark steps such as the surgical strike across the line of control in Kashmir and the abrogation of Article 370. The construction of the Ram temple in Ayodhya also started under this government, Adityanath, who has been campaigning extensively across the hill state, told the gathering.
What excuse will SP give for its defeat in Gola Gokarnnath bypoll: Mayawati
BSP chief Mayawati targeted the Samajwadi Party over its defeat in the Gola Gokarannath assembly bypolls, asking what excuse will it give for the loss given that her party did not contest the election, the PTI reported.
She said it remains to be seen whether the Akhilesh Yadav-led party will be able to retain the Mainpuri Lok Sabha and Rampur assembly seats where bypolls are scheduled on December 5.
BJP's Aman Giri won the Gola Gokarannath assembly bypoll in Uttar Pradesh on Sunday, defeating his nearest rival and Samajwadi Party candidate Vinay Tiwari by over 34,000 votes, a senior official said.
Delhi govt to reopen classes from Nov 9, revokes work-from-home order
Mining lease row: Relief for Jharkhand CM Soren; SC sets aside HC order
The Supreme Court on Monday allowed the appeals of Jharkhand Chief Minister Hemant Soren and the state government against a high court order accepting the maintainability of PILs for a probe in the mining lease issue. It also set aside the Jharkhand High Court's June 3 order.
"Satyamev Jayate," Soren, who has been accused of granting himself a mining lease as the state's mining minister, said on Twitter after the Supreme Court's ruling.
We have allowed these two appeals and have set aside the June 3, 2022 order passed by the Jharkhand High Court, holding that these PILs were not maintainable, the bench said.
Demonetisation was a colossal failure which crippled economy, says KTR
Demonetisation was a colossal failure which crippled the growing Indian economy, Telangana Rashtra Samithi (TRS) working president K.T. Rama Rao said on Monday, the IANS reported.
"What a colossal failure this Demonetisation was & let's not forget how it crippled the growing Indian economy," tweeted the TRS leader.
KTR, as Rama Rao is popularly known, alleged that this "half-baked" idea led to eight consecutive quarters of slowdown, subsequently landing in lockdown in 2020 serving a body blow to the vibrant economy.
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First Published: Nov 07 2022 | 8:50 AM IST