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Is Facebook Losing Friends?

30 
What is it?The number of teenagers aged 15 to 19 who were newly infected with HIV per hour in 2017, according to United Nations children’s fund UNICEF

Why it’s important? This underlines HIV crisis among the teenagers, especially girls. Of the 30, infections, 20 were in girls. UNICEF attributed it to the lack of access to information, services and of power to say no in many countries, making girls most vulnerable.

Tell me more: UNICEF in its report said, 130,000 children under the age of 19 died last year, and 430,000 children were newly infected.

 

$13.2 billion

 

What is it?Facebook’s revenue in the second quarter of 2018, up 42% from last year.

Why is it important?That didn’t stop the market from battering down the stock by nearly 20%, shaving off over $120 billion in its market capitalisation.  Analysts were expecting the technology giant to perform better, and the company executives warned about lower revenues, and smaller margins. This comes at a time when there is an increasing concern over privacy, and regulators are responding by tightening privacy norms.

Tell me more: Mark Zuckerberg’s personal fortune slid by $16.8 billion.

 

113 

 

What is it? Cricketer turned politician Imran Khan’s Pakistan Tehreek-i-Insaf (PTI) lead in the general elections with 30% of the total votes counted.

Why is it important? PTI contested in 272 seats. The assembly has 342 seats, and 172 are needed for a majority. While it’s not clear if PTI will get a majority on its own, or whether it will have to seek coalition partners, the Pakistan Muslim League-Nawaz (PML-N) has rejected the results. It said the election was rigged in favour of PTI. PML-N was ahead in 66 constituencies, and the other big political party, Pakistan Peoples Party (PPP), was ahead in 39. It will be the second civilian transfer of power in the country’s history.

Tell me more: The elections took place in the shadow of killing of 31 people by a suicide bomber near a polling station in Quetta, capital of Balochistan, one of the five provinces in Pakistan.

 

$3.8 billion

 

What is it?The amount government hopes to recover from Reliance Industries, Shell and (Oil and Natural Gas Corp)ONGC over its share from the Panna-Mukta and Tapti fields.

Why is it important? The government has now moved Delhi High Court to enforce the recovery. This follows a ruling by English Commercial Court in May 2018 regarding the government’s share in the fields.

Tell me more: The liability is to be split among the three entities per their stake. ONGC has 40%, RIL and Shell 30% each.

 

25%

 

What is it?The tariff that United States president Donald Trump had threatened to impose on auto imports into the US.

Why is it important? Even as United States and European Union had agreed to work on lowering trade barriers, after a meeting with Donald Trump and European Commission chief Jean-Claude Juncker, there was no mention of tariffs on auto imports. The tariffs will have an impact European car makers such as BMW and Volkswagen.

Tell me more: Among other things, Europe has agreed to lower trade barriers to American soybeans. Earlier Trump announced a $12 billion emergency aid for US farmers.

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Is Facebook At It Again?

60

What is it? The number of device-markers such as Apple, Amazon, Blackberry, Microsoft and Samsung that Facebook has formed data-partnerships with in the last 10 years.

Why is it important? Facebook reportedly allowed these device firms to access data of users’ friends without their explicit consent, though it had declared that it would not share such information with outsiders. This comes a few weeks after the social media firm found itself in the centre of a dispute over the alleged harvesting and use of personal data of 87 million people, involving London-based elections consultancy Cambridge Analytica.

Tell me more: Facebook, however, has rejected the report and said that this is “very different” from the use of data by third-party developers such as Cambridge Analytica.

$350 million

What is it? The amount of funding raised by GitHub, in two funding rounds, since being formed in February 2008. The last was in 2015, when it was valued at $2 billion.

Why is it important? On Monday, the code repository company popular with the community of software developers for its championing of the open-source model, said it had reached an agreement to be acquired by Microsoft for $7.5 billion in stock. For GitHub, which has never made a profit, this is a way forward. For Microsoft, it’s a return to its earliest roots.

Tell me more: This is yet another significant acquisition by Microsoft CEO Satya Nadella, who took charge in February 2014 and whose tenure has seen the Microsoft stock rise three-fold.

13

What is it? The number of months since MK Jain has been the managing director and chief executive officer of IDBI Bank. On Monday, the government appointed him as a deputy governor of the Reserve Bank of India (RBI).

Why is it important? Jain has over 30 years of experience in the banking industry and will be in-charge of the central bank’s supervisory department that is instrumental in cleaning up the banking system. However, his exit from IDBI Bank seems to be a negative for the lender as he was focused on cleaning up its balance sheet and divesting some non-core assets to generate capital. The lender’s shares fell to a two-week low after the announcement.

Tell me more: Jain was selected from nine candidates and after two rounds of interviews. The RBI deputy governor post fell vacant after SS Mundra retired at the end of July 2017.

250,000

What is it? The number of modern assault rifles the India Army will reportedly buy.

Why is it important? This is less than a third of its original requirement of 800,000 rifles and the reduced order size is said to be due to budgetary constraints and the need to increase the pace of deliveries. As of July 2017, a majority of the India’s troops were still using the outdated INSAS (Indian Small Arms System) rifles, though the Army had floated a tender for the supply of multi-caliber assault rifles to replace these in 2011.

Tell me more: Of the 450,000 infantry troopers in the defence force, about half of them go into the battleground and use the rifle as their primary weapon.

900

What is it? The number of singles matches won by Rafael Nadal of Spain.

Why is it important? On Monday, Nadal became only the fifth male tennis player to reach the milestone of 900 singles victories. This elite list is led by Jimmy Connors, who finished his career with 1,256 wins. He is followed by Roger Federer (1,149), Ivan Lendl (1,068) and Guillermo Vilas (949).

Tell me more: Of these five players, Nadal has the best winning percentage (82.8%). He is followed by Federer (82.0%).

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Hung House

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What is it? The number of seats a party or an alliance requires to form the government in Karnataka.

Why is it important? Though the initial trends pointed towards BJP securing a simple majority, its final tally fell seven short of the halfway mark for 222 seats, where elections were held in the state. While the BJP, as the single-largest party, wants a first crack at forming the government, the Congress-Janata Dal (Secular) combine have staked a claim to power. It remains to be seen if BJP makes its entry into the south or if Congress is able to retain its only big state ahead of the 2019 general elections.

Tell me more: Although the Congress has won more seats than JD(S), it has agreed for the latter’s leader HD Kumaraswamy to be their chief ministerial candidate.

 

2.5 million

What is it? The number of pieces of hate speech removed by Facebook in the first quarter of 2018, of which 38% were flagged by its technology.

Why is it important? Hate speech was one of the six areas in which Facebook took action against content posted on its platform. On Tuesday, it reported its numbers in these six areas in its first Community Standards Enforcement Preliminary Report. It admitted its technology didn’t work that well for hate speech. By comparison, Facebook took down 21 million pieces of adult nudity and sexual activity, 96% of which were found and flagged by its technology, before they were reported.

Tell me more: Facebook estimates that of every 10,000 pieces of content viewed on Facebook, 7 to 9 views were of content that violated its adult nudity and pornography standards.

 

Rs 13,416.9 crore

What is it? Punjab National Bank’s (PNB) net loss in the fourth quarter of 2017-18, compared with a net profit of Rs 261.9 crore in the year-ago period.

Why is it important? It is the lender’s (and any domestic bank’s) biggest ever quarterly net loss due to the hit it has taken from the Nirav Modi scam, India’s biggest banking fraud. The bank said it had provided for Rs 7,178 crore on account of the scam, which is 50% of the total, in the last quarter. It will provide for the remaining amount in the next three quarters.

Tell me more: PNB’s total provisions and contingencies in the quarter stood at Rs 20,353 crore compared to Rs 5,753 crore a year ago.

 

15

What is it?The number of people feared dead as on Tuesday evening (8.15 pm) after a flyover collapsed in Varanasi, Uttar Pradesh. Media reports differ on the death toll, though the range was between 12 and 20.

Why is it important? Many were trapped dead after a portion of an under-construction flyover collapsed, crushing people and vehicles underneath. Of those trapped, many of them are labourers working on flyover construction. A total of 1,885 people died in 2015 due to a collapse of structures, or 0.6% of the total accident deaths in India.

Tell me more: The Uttar Pradesh government has set up a three-member committee to probe the incident and announced a compensation of Rs 5 lakh for the families of those killed in the incident.

 

40 years

What is it? The number of years that former Australian cricketer Bill Lawry did cricket commentary. On Tuesday, the 81-year-old announced his retirement.

Why is it important? One of the distinctive voices of Channel Nine, Bill Lawry calling it a day as a cricket commentator is symbolic of possibly the biggest shift underway in the Australian cricket broadcasting landscape since the Kerry Packer days. Earlier this year, Seven and Fox Sports ended Channel Nine’s four decade-long association with broadcasting cricket in Australia.

Tell me more: Lawry, who also captained Australia, is known for his excitable style of commentary that produced articulations that have since become lore, like “it’s all happening” (to describe a busy passage of play) and “bang” (a big hit).

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When Regulator Facebooks

3

What is it? The three entities—Rupeshbhai Kantilal Savla, Sujay Ajitkumar Hamlai and V Techweb India Pvt Ltd—from whom the market regulator has ordered impounding of unlawful gains worth over Rs 2.4 crore in an insider trading case.

Why is it important? The Securities and Exchange Board of India (Sebi) trawled the Facebook profiles of the suspected people to check if they were connected in the case, which violated insider trading norms. SEBI found the involved persons were ‘friends’ on Facebook and had liked each other’s posts, an instance of the regulator combing social media to track insider trading.

Tell me more: The order stated that by way of “this association and frequent communications, they are reasonably expected to have access to unpublished price-sensitive information” related to the firm in which shares were traded by the involved persons.

 

3

What is it? The number of years since the death of former judge BH Loya. He died of a cardiac arrest on December 1, 2014, in Nagpur, according to the Maharashtra police.

Why is it important? On Thursday, a three-judge Supreme Court bench, in a scathing verdict, dismissed a batch of petitions that sought an independent investigation into Loya’s death and said the pleas were an attempt to scandalise and obstruct the course of justice. It said public interest litigations were being misused for personal agendas. The BJP and Congress got into a war of words after the dismissal of these pleas.

Tell me more: The death of Loya came into focus after some media reports said that his sister had raised suspicions about the circumstances of his death. Loya was hearing the case regarding the death of a gangster Sohrabuddin Sheikh in which Amit Shah, president of BJP, was an accused.

 

Rs 6,904 crore

What is it? Tata Consultancy Services’ (TCS) net profit in the January-March quarter of 2017-18.

Why is it important? India’s largest software services exporter saw its banking and financial services vertical, its largest contributor, grow 2.3% sequentially and 8.2% year-on-year. The firm had witnessed lower client spending, particularly in this sector in North America, last year. A turnaround in the banking and financial services vertical, in addition to growth in digital services, is likely to help TCS achieve its 10% dollar-revenue growth in 2018-19.

Tell me more: Its Q4 revenue increased by 8.2% to Rs 32,075 crore on an annual basis. In 2017-18, TCS’ net profit declined 1.8% to Rs 25,826 crore.

 

102

What is it? The number of words devoted to India (out of 4,310) by Amazon founder and CEO Jeff Bezos in his 2017 letter to shareholders, released late Wednesday.

Why is it important? India received a para under the section ‘recent milestones’. India is one of the big markets identified by Amazon to open up new frontiers of growth, and it is locked in a bruising battle here with Flipkart, which might soon have a new owner in Amazon’s rival in the US, Walmart.

Tell me more: Bezos also disclosed that Amazon Prime crossed 100 million members worldwide in 2017 and that this paid membership service added more members than any previous year.

 

$5 million

What is it? The amount paid by cyclist Lance Armstrong to the US government to settle a whistleblower lawsuit.

Why is it important? The lawsuit, filed in 2013, could have sought damages of up to $100 million from Armstrong—whose team was sponsored by the US Postal Services—for using performance-enhancing drugs en route to winning the Tour de France race seven times, victories that have since been scratched from the record book. This lawsuit would have possibly been the biggest claim against Armstrong, who has reportedly paid about $20 million in damages and settlements.

Tell me more: The original lawsuit against Armstrong was filed by Floyd Landis, a former teammate and also banned cyclist. Landis is eligible for up to 25% of the settlement amount.

 

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