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Facebook’s “Big Mistake”

106

What is it? The number of US products that China has levied additional tariffs on, though it has not announced the effective start date yet.

Why is it important? China took less than 11 hours to hit back at the United States, which proposed 25% tariffs on about 1,300 Chinese products, whose imports to the US are in the region of $50 billion. This has heightened fears of a global trade war, and rattled investors and fueled market fears.

Tell me more: Washington has targeted products that benefit from China’s industrial policy, while Beijing’s list picks out signature US exports such as soybeans, frozen beef, cotton and other agricultural products grown in states that voted for President Donald Trump in the 2016 elections.

 

87 million

What is it? The number of Facebook users whose personal information might have been improperly shared by the social media giant with political consultancy Cambridge Analytica.

Why is it important? The new number was disclosed by Facebook chief technology officer Mike Schroepfer in a blog post yesterday, and is an increase over the 50 million number that has been cited in news reports so far. Of this, 70 million were Americans and 0.6 million were Indians. Facebook chief Mark Zuckerberg will testify before a US Parliamentary panel on April 11.

Tell me more: As of December 2017, Facebook had 1.4 billion daily active users, a number that increased 14% in 2017.

 

99

What is it? The number of startups reportedly funded under the Startup India initiative, of the 6,981 startups recognised by the Department of Industrial Policy and Promotion (DIPP) as on February 6, 2018.

Why is it important? A Parliamentary committee report has expressed grave concerns about the gap between the number of startups recognised by the DIPP and those that have received funding and tax exemptions. Only 82 entities have been certified for claiming tax exemptions under the Income Tax Act, 1961. With such progress, it seems like a steep climb for the DIPP to achieve its target of facilitating and supporting 1,000 startups by March 2019.

Tell me more: According to a recent poll by community-based social networking platform LocalCircles, 80% of respondents said they have not benefited from the government’s Startup India plan.

 

24%

What is it? The share of American Depository Receipts (ADRs) in ICICI Bank’s shares.

Why is it important? The bank and its top management are at the risk of facing a class action lawsuit in the United States by holders of the lenders’ ADRs, according to a note by brokerage firm Jefferies. ICICI Bank’s chief Chanda Kochhar is facing the heat for her alleged involvement in the financial dealings between the bank, Videocon Group and her husband Deepak Kochhar’s firms.

Tell me more: The bank has refused to hire external agencies to conduct an independent investigation into the nepotism allegations against Kochhar.

 

19 minutes

What is it? The number of minutes in a passage of play in which English football club Liverpool slammed three goals past Manchester City in the first leg of their quarter-final match in the Champions League.

Why is it important? The burst helped Liverpool win 3-0 and put them in the driver’s seat for the return leg in Manchester in a week’s time. All season long, teams have struggled to match up to Manchester City in the English Premier League, with the result that the club holds a 16 point lead with seven games left, and is poised to break the 100-point mark.

Tell me more: City’s only loss in the EPL this year at the hands of Liverpool in January, in the same ground where they lost yesterday.

 

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