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Biz EOD: TikTok influencers' earnings drop; PMGKAY extended till Nov; Patanjali does U-turn over Coronil

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | June 30, 2020 | Updated 22:34 IST
Biz EOD: TikTok influencers' earnings drop; PMGKAY extended till Nov; Patanjali does U-turn over Coronil
Top stories from the world of business and economy

The sudden ban on ByteDance's TikTok will cause a significant loss to the influencer community. Prime Minister Narendra Modi announced that PM Garib Kalyan Anna Yojana (PMGKAY) will be extended till November-end. Patanjali Ayurved CEO Acharya Balkrishna has clarified that the company never positioned Coronil as a cure or means to control coronavirus. Read for more top stories from the world of business and economy:

1. TikTok influencers in a fix post ban on the app; expect huge cut in earnings

Most content creators stay active across social media platforms including TikTok, Instagram, YouTube and Facebook, among others. They will also face monetary losses since brands have already started pausing their planned TikTok activities for now.

2. PM Garib Kalyan Yojana extended till November end; to cost govt Rs 90,000 crore

Extension of the scheme for another 5 months will cost the government Rs 90,000 crore, said Modi.

3. 'Never claimed Coronil can cure coronavirus': Patanjali does U-turn as doubts grow stronger

On June 23, Baba Ramdev's Patanjali Ayurved had released "research-based medicine" Coronil tablet and Swasari vati, claiming 100 per cent favourable results during clinical trials on COVID-19 infected patients except those on a life support system.

4. First-ever decline of 14.4% in new broadband subscribers during April-Feb'20

According to the latest data released by Telecom Regulatory Authority of India, the number of broadband subscribers in India increased from 673.40 million at the end of January, 2020 to 681.11 million by February, 2020 with a monthly growth rate of 1.15 per cent.

5. Reliance Jio adds over 60 lakh subscribers in February; Vodafone Idea loses 34 lakh users

In terms of subscriber market share for wireless services, Reliance Jio held 32.9 per cent, with Bharti Airtel at 28.35 per cent and Vodafone Idea at 28 per cent share as on February 29, 2020

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