iPhones account for 40% of India’s mobiles export in 2022-23
400M Twitter users’ records are up for sale on hacking forum
Hope you make the most of the week ahead!
Check out Monday's newsletter and stay on top of the stories shaping the world of business, startups, and tech!
The NextBigWhat newsletter brings you curated news, summarized for you - we save you time and deliver the info you need in your work.
#RecommendedBook of the day
Keep Showing Up: How to Stay Crazy in Love When Your Love Drives You Crazy
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Now back to the news 👇
Spending on credit cards declines for the first time in six months in India
Spending on credit cards decreased by more than 12% sequentially, with November’s average being around Rs 14,280 compared to October’s average of Rs 16,343.
Credit card spending overall continued to surpass Rs 1 lakh crore for the ninth consecutive month. On e-commerce platforms, credit card spending per card was around Rs 8,495, down from Rs 9,473 in October.
Crypto is effectively nonexistent asset for big institutional investors: JPMorgan
JPMorgan Asset Management’s Jared Gross said “as an asset class, crypto is effectively nonexistent for most large institutional investors. The volatility is too high, the lack of an intrinsic return that you can point to makes it very challenging.” He continued, “most institutional investors probably are breathing a sigh of relief that they didn’t jump into that market.”
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What is SBF doing after getting bail?… Chilling in business lounge
FTX’s former CEO was spotted by the crypto community in the business lounge at JFK airport. Before his journey to San Francisco, SBF was “relaxing” with his laptop and other possessions.
The pictures called into question the veracity of Bankman Fried’s claim that he was on the verge of bankruptcy and was without access to his personal or professional data.
Experts believe hacktivism will rise rampantly in 2023
Analysts said the threat of “hacktivism,” or cyberattacks on governmental institutions driven by political or social motives, is expected to increase in 2023. Governments experienced 1,564 weekly attacks on average in the third quarter of this year, with 3,354 attacks per organisation per week in India’s government sector over the previous six months.
iPhones account for 40% of India’s mobiles export in 2022-23
Three Apple suppliers—Foxconn, Pegatron, Wistron, and Samsung—are major contributors to the export numbers, thanks to India’s PLI Scheme. In order to improve exports, attract investments, integrate India into the global supply chain, and decrease reliance on imports, the government developed PLI projects in 14 industries as part of its AtmaNirbhar plan.
400M Twitter users’ records are up for sale on hacking forum
Elon Musk has been urged to purchase the data set for an undetermined sum by a member of a criminal data breach forum. The posting allegedly contains the private email addresses of three dozen famous people, including cybersecurity journalist Brian Krebs, Ethereum cryptocurrency pioneer Vitalik Buterin, and New York Democratic Representative Alexandria Ocasio-Cortez.
Tata Motors to operate 1500 EV buses in Delhi
TML CV Mobility Solutions Ltd., a subsidiary of Tata Motors, will provide, run, and operate 1500 12-meter low-floor air-conditioned electric buses for a term of 12 years. The Tata Starbus EV is a vehicle that has been built domestically, and over 730 electric buses have been provided by Tata Motors to various Indian cities to date.
WhatsApp to enable users to report status updates
WhatsApp users will be able to report any status updates that they believe violate the Terms of Service of the platform.
Stock traders made $15 billion by shorting Tesla shares this year
S3 Partners’ analysis revealed that bets against Tesla shares turned out to be the most successful of 2022, with shorts against Amazon shares yielding a $6.2 billion profit. As the stock started to decline in April, interest in betting against Tesla began. Tesla is the second-largest US short with about 3% of its shares shorted after Apple.