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BusinessToday.In | October 1, 2018

Facebook, Twitter to help EC check fake news, targeted communication to voters during polls

Internet major Google and social media giants Twitter and Facebook have assured the Election Commission that they will not allow their platforms to be used for anything which effects the purity of polls during campaign period, Chief Election Commissioner OP Rawat has said.

Elon Musk to step down as Tesla chairman after fraud charges, pay $20 million fine

Billionaire Elon Musk has agreed to step down as the chairman of Tesla Motors and pay $20 million as part of a settlement offered by Securities and Exchange Commission (SEC). Musk caved in 48 hours after the US markets watchdog filed a lawsuit against him, seeking to oust the multibillionaire innovator from the mobility company he founded over allegations of securities fraud. He now will have to pay $20 million and resign from the post of Tesla chairman within 45 days. He will be banned from the office for at least three years.

Facebook breached! Personal data of 50 million users exposed to hackers in latest attack

Social media giant Facebook discovered a security issue that allowed hackers to access information that could have let them take over around 50 million accounts, the company announced Friday. Facebook shares, which were already down about 1.5 percent before the announcement, extended losses after the disclosure and ended down 2.6 percent.

Govt owes Air India over Rs 1146.86 crore for VVIP charter flights

The total outstanding of cash-strapped Air India towards government for VVIP charter flights stands at Rs 1146.86 crore, according to the latest response from the national carrier to an RTI application.
According to the details furnished by the Air India on September 26 to applicant Commodore Lokesh Batra (retd), the Defence Ministry has outstanding bills of Rs 211.17 crore, Cabinet Secretariat and PMO Rs 543.18 crore and External Affairs Ministry Rs 392.33 crore.

Reward for tip offs on GST evasion on anvil

The revenue department is planning to come out with a 'GST informant reward scheme' to check tax evasion by unscrupulous traders and businesses, an official said. It will be on the lines of similar schemes for excise and service tax, which has been subsumed under the Goods and Services Tax (GST). Customs and Income Tax also have such informer reward schemes.
 
Amazon India unveils 'Select' to help brands in growth journey
 
E-commerce major Amazon has started a new programme 'Select' in India to help emerging brands in the country get access to a suite of brand building tools and services. Amazon India, which competes head-on with Walmart-backed rival Flipkart, has also recently crossed the milestone of four lakh sellers on its platform.
 
India's story compelling evidence that openness in services contributes to growth: report  

India's economic reforms and growth story offer compelling evidence that openness in services contributes to long run growth performance, the IMF, World Bank and WTO said in a joint report Sunday. India's reforms in the 1990s brought more openness, better regulation and greater investment, allowing Indian manufacturing firms to source services from a range of domestic and foreign providers operating in a more competitive environment, the report said. The report -- 'Reinvigorating Trade and Inclusive Growth' -- was released by the International Monetary Fund (IMF), World Bank and World Trade Organization.
 
India wants to have trade deal with US: Trump
 
President Donald Trump Saturday said that India wants to have a trade deal with the US because it does not want him to impose tariffs on their products. Trump remarks, for the second time in recent weeks, comes days after Assistant US Trade Representative Mark Linscott returned from India where he had detailed discussion with senior Indian officials on bilateral trade and a possible trade deal between the two countries. Trump often accuses India of imposing 100 per cent tariffs on American products. "We have a country, take India. Good relationship. They want to make a deal now because they don't want me to do what I'm going to do, with I have to. So, they (Indians) call us. They didn't want to make a deal with anybody else," he said.