MILLION PEOPLE
Jolt to Biden's re-election campaign as donors hold back USD 90 million pledged earlier
A major setback has hit President Joe Biden's re-election campaign as a group of fundraisers has decided to withhold $90 million in pledged contributions if he remains the Democratic presidential candidate. The New York Times reported on Friday that the frozen funds include multiple eight-figure commitments, as informed by anonymous sources due to the sensitivity of the situation. This decision follows Biden's poor debate performance on June 27 against Donald Trump, which has led to diminished support from key allies.
Pakistan's population projected to reach 400 million by 2092: UN Report
A UN report on Pakistan's population growth projects a rise to 404.68 million by 2092, surpassing Indonesia by 2048. With a current growth rate of 2.40 per cent, Pakistan faces challenges including lack of birth control usage, pressure on resources, unemployment, and strains on healthcare and education systems. Globally, the world population is expected to reach 10.3 billion by the mid-2080s before declining to around 10.2 billion.
Russia-Ukraine war: Why people are getting legs broken by doctors
Local media in Ukraine has reported advertisements on Telegram which offered “a unique opportunity to avoid mobilization without leaving the country” and featured images of legs and arms wrapped in bandages, RT has reported.
Reliance Industries’ unit plans over $500 million offshore loan
It is in talks with a group of foreign banks for a loan of 12-15 years, people familiar with the matter said, asking not to be identified as the discussions are private. The funds would be raised for Ethane Crystal LLC, a subsidiary of Reliance Ethane Holding Pte., the group’s business of buying ships to transport ethane, they said.
India needs 1 million high-tech engineers as economy expands
India’s $250 billion tech sector plays an important role in the economy, employing about 5.4 million people. Tech services make up about 7.5% of the country’s $3 trillion-plus gross domestic product.
NASA astronaut captures stunning moonrise from ISS, captivating millions
NASA astronaut Matthew Dominick's breathtaking photo of a moonrise from the International Space Station (ISS) has left millions in awe. The image, depicting a crescent moon above Earth's atmosphere, has garnered over 5.4 million views and numerous comments. Dominick, part of NASA’s SpaceX Crew-8 mission, has been aboard the ISS for four months. The photograph showcases the beauty of space, drawing widespread admiration from social media users.
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China's central bank refrains from gold purchases for a 2nd month
The pause by the People's Bank of China (PBOC) started in May, when spot gold prices hit a record high. The previous 18 months of consistent buying by the PBOC, along with demand from other central banks, contributed to the gold rally from March to May.
Samvardhana Motherson raises $350 million via bonds
The bonds were sold by a subsidiary, SMRC Automotive Holdings Netherlands, and are priced at 140 basis points above the five-year US treasury, currently trading at about 4.30%. After taking into account the costs, the bond was priced at a yield of 5.72%.
Threads hits 175 million users on first anniversary
Threads, Meta's alternative to X (formerly Twitter), has hit 175 million monthly users a year after its out-of-the-blue launch. Threads, which hit app stores on July 5 last year, is a spin-off of Instagram and is intended to be a rival to X, formerly known as Twitter, after that platform alienated many users and advertisers following Elon Musk's purchase in 2022.
Nearly 5 billion people endured extreme heat in June; 619 million affected in India: Report
An analysis by Climate Central revealed that nearly five billion people globally, including 619 million in India, faced extreme heat due to climate change over nine days in June. The report highlighted impacts in several countries, with experts warning that carbon pollution must be reduced to prevent future heat-related disasters.
Increasing cost of nuclear weapons; amount spent in 5 years can feed 45 million people suffering due to famines
In a report that has been released, the high cost of nuclear weapons is taking a toll on many countries. Countries are continuing to expand their nuclear arsenal and this is leading to increasing costs. There are 12,000-13,000 nuclear war heads in the world.
A third of the 30 fastest growing spirits brands in the world are Indian, says new report
While Iconiq White Whisky by Allied Blenders and Distillers sold 1.6 million cases in 2023 to top the list, it's not just whisky brands that are performing well. Three brandy brands - Courier Napoleon and Mansion House brandy by Tilaknagar Industries, Radico Khaitan's brandy Morpheus, vodka brand Magic Moments and rum 1965 – are from India, indicating that spirits trends are diverse.
Over 75 million people in the US are under heat alerts. Go indoors and hydrate
The US last year saw the most heat waves, consisting of abnormally hot weather lasting more than two days, since 1936. Officials again warned residents to take precautions.
Millions will vote on Europe's super Sunday, with surveys suggesting a shift to the right
Voters across 20 European nations are casting their ballots in the EU election super Sunday, with concerns over a potential shift to the political right impacting the bloc's decision-making amidst ongoing conflicts and rising anti-migrant sentiment. Populist parties are expected to make gains, potentially reshaping the European Parliament's dynamics. The elections mark a pivotal moment for the EU's future trajectory and international relationships.
Continuum energy to raise $650 m via bonds
Continuum Green Energy, a renewable energy generator, plans to raise $650 million in bonds to refinance existing debt, with Deutsche Bank, HSBC, JPMorgan, and Standard Chartered Bank as arrangers.
Kedaara-backed Ajax Engineering is said to plan India IPO
The concrete equipment maker is planning its IPO in Mumbai in the fourth quarter, said sources A listing could value the company at $1.2 billion, and the company aims to file a prospectus for the share sale by August.
EV marketplace-financing startup Turno raises $6 million from BII, others
Founded in April 2022 by former Zoomcar C-suite executives Hemanth Aluru and Sudhindra Reddy, Bengaluru-based Turno provides financing solutions to small and mid-size enterprises as well as individuals who plan to buy commercial three-wheeler (3W) electric vehicles.
India to give relief assistance worth $ 1 mn to Papua New Guinea in the wake of landslide that killed 2,000
The Ministry of External Affairs announced immediate relief assistance of $1 million to Papua New Guinea following a devastating landslide that buried over 2,000 people. Prime Minister Narendra Modi expressed condolences and India's readiness to extend support. The aid, offered as part of India's partnership with the Pacific island country, aims to assist in relief, rehabilitation, and reconstruction efforts.
MrBeast, world's most subscribed Youtuber, is giving away $5 million for playing game
MrBeast has announced a $5 million giveaway, announcing the "largest game show ever." Open to US citizens aged 18 and above with valid passports till 2025, the game may run from late June to September. With over four million views since the May 27 announcement, reactions vary from disappointment to hopeful anticipation as participants prepare for the event.
Google invests $350 million in Flipkart as part of nearly $1 billion funding round
Flipkart secures $1 billion funding with investments from Google and Walmart. Walmart, which holds an 85% stake, invested $600 million in the round. Valued at $35-36 billion, Flipkart plans to expand with Google's cloud collaboration.
US sends $275 mn of weapons and military aid to Ukraine
Last month, US lawmakers passed a long-delayed $61 billion military aid deal for Kyiv after months of squabbling in Congress as Ukrainian forces suffered setbacks on the battlefield due to ammunition and funding shortages.
Google’s $350-million Flipkart bet; Canva CEO interview
Ecommerce major Flipkart has closed its nearly $1-billion funding round with Google coming on board. More on this in today’s ETtech Top 5.
Fitness startup Portl raises $3 million led by Bharat Innovation Fund
The round saw participation from T-Hub Foundation and existing investor Kalaari Capital. The fresh capital infusion will help the 2021-founded startup’s product development, market expansion, and enhancement of its artificial intelligence (AI) systems.
Green career path looks promising but remember that it is a nascent industry
The green job sector is rapidly expanding with numerous growth opportunities, but also presents challenges due to its nascent stage. Individuals must navigate issues like evolving landscapes, skill gaps, and market fluctuations. Strategies include pursuing relevant education, upskilling, leveraging AI, networking, and remaining adaptable to excel in this dynamic industry.
Meesho closes $275 million funding in first tranche, in talks for more
Meesho secures $275M funding in a $600M round. Share transfers hinted in SEC filing. In total, Meesho has raised $1.36 billion – including secondaries – since 2015.
Data collaboration software firm Atlan raises $105 million; valuation nearly doubles to $750 million
Funding led by Singapore's GIC and US-based Meritech Capital values startup at $750 million, up from $450 million in March 2022 when it last raised funds
Myanmar displaced now at 3 million: UN
The number of displaced people in Myanmar has reached three million, the United Nations said, the vast majority forced to flee their homes by conflict unleashed by the military's 2021 coup. The coup sparked renewed clashes with established ethnic armed groups and birthed dozens of new "People's Defence Forces" that the military has failed to crush.
US, UK accuse China of cyberespionage that hit millions of people
Authorities on both sides of the Atlantic nicknamed the hacking group Advanced Persistent Threat 31 or "APT31", calling it an arm of China's Ministry of State Security. Officials reeled off a laundry list of targets: White House staffers, US senators, British parliamentarians, and government officials across the world who criticized of Beijing.
Over 8 million people voted online in Russia presidential election, official says
Voting in the election, which incumbent President Vladimir Putin is expected to win easily, took place in the three days to Sunday.
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