Citizens' Issues
RBI had rejected Headley's application to open business account
Mumbai:  The Reserve Bank of India had rejected an application by Lashkar-e-Taiba (LeT) terrorist-turned-approver David Coleman Headley seeking clearance to open a business account in June 2007, a Mumbai special court was informed on Thursday.
 
Making this revelation, Headley said he had received funds for terror from both LeT and Pakistan's ISI which was used for gathering intelligence and other works in India, including starting a business.
 
With this funding, Headley said, he opened an office in south Mumbai's Tardeo area and on October 12, 2006, he even applied to Reserve Bank of India for permission to open a business account.
 
Interestingly, his visa consultant in Chicago, Raymond Sanders - who had earlier assisted him in procuring an Indian visa with false information - also helped him in the RBI formality, but the country's apex bank rejected the application on June 1, 2007.
 
In January 2007, hoping to launch a business in India, Headley had hired an office in Tardeo A/C Market for Rs. 13,500 per month and named his landlord as Vora and Maroo Bharucha who was his secretary at the office.
 
The opening of office and application to open a business bank account were in consonance with the earlier plans by his handlers who wanted him to start a business in India.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Shrinking user base triggers sharp fall in Twitter shares
New York : A sequential decline in its monthly active users (MAUs) base triggered a sharp fall for Twitter shares in the after-hours trade, as the company announced its fourth quarter results on Wednesday.
 
The micro-blogging site reported 305 million monthly active users for the fourth quarter, compared to 307 million in the third quarter that excluded SMS-only followers.
 
The almost-flat user growth led to its shares falling as much as 13 percent in extended trading, Tech Crunch reported, hitting another new low of around $13.75 before flattening out to 3 percent in extended trading.
 
"We saw a decline in monthly active usage in Q4, but we've already seen January monthly actives bounce back to Q3 levels. We're confident that, with disciplined execution, this growth trend will continue over time," the company said in its earning statement.
 
It reported earnings of 16 cents per share and revenue of $710 million. Twitter said it expects between $595 million and $610 million in revenue for the first quarter, compared to the estimates of $629 million.
 
Still, revenue was up 48 percent year-over-year despite stalled user growth, the report added.
 
"Positive impacts from our marketing initiatives which contributed meaningfully to MAU growth. However, these were more than offset by organic declines, partially due to fourth quarter seasonal trends."
 
In the past year, the stock has fallen nearly 70 percent and investors are looking for long-term growth from Twitter.
 
"Not being able to add any new active users in the last quarter will disappoint some, particularly investors. Yet it did see active advertisers go up by almost 90 percent year-on-year," said Sotirios Paroutis, associate professor with the Warwick Business School.
 
"Plus, historically, Q4 has been a slow quarter for Twitter. While in 2016 the US elections and the Olympics will be two big events that are expected to help push their active users up," said Paroutis, who specialises in strategic management and specifically researches Twitter.
 
"Twitter has delivered a number of product innovations, but these need to be less confusing for core users and attractive enough for new users. The focus on 'live' and experiencing live events is a clear effort to explain Twitter to a wider audience."
 
Now, in an attempt to bring tweets to more people across the globe, Twitter is planning to introduce an algorithmic timeline like Facebook. The timeline will reorder tweets based on what Twitter's algorithm thinks people most want to see.
 
The home timeline will be rolled out to people across 23 countries, including India, who visit Twitter homepage on their mobile devices. The micro-blogging site has been looking for ways to elevate popular content for quite some time.
 
An algorithmic feed would be, to date, the boldest change so far under Jack Dorsey, who took the reins of Twitter as new CEO in October last year, analysts maintain.
 
Dorsey has made several moves, including cutting jobs and naming Google's former chief business officer, Omid Kordestani, as Twitter's executive chairman.
 
Under Dorsey, Twitter has released a news curation feature "Moments" and the company is reportedly working to extend Twitter's identifying 140-character limit to 10,000.
 
Twitter is also set for a major overhaul under Dorsey to revive the company's fortune with some of the high-profile executives putting in their papers.
 
According to a report in the Wall Street Journal, the company's head of engineering Alex Roetter and product chief Kevin Weil are departing, along with Katie Stanton, the company's high-profile head of media who had informed the company of her intention to quit some time back.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Zuckerberg slams Facebook director over offensive Tweet
New York : Facebook chief executive Mark Zuckerberg on Thursday disowned his colleagues's controversial statement that Free Basics was same as colonialism, saying it was "deeply upsetting".
 
Zuckerberg came down heavily on Facebook board member Marc Andreessen for his offensive tweet that created an uproar on the social media. 
 
"I want to respond to Marc Andreessen's comments about India yesterday. I found the comments deeply upsetting, and they do not represent the way Facebook or I think at all," Zuckerberg wrote in a Facebook post. 
 
"India has been personally important to me and Facebook. Early on in my thinking about our mission, I travelled to India and was inspired by the humanity, spirit and values of the people. It solidified my understanding that when all people have the power to share their experiences, the entire world will make progress," he said. 
 
Earlier, a tweet by Andreessen left many Indians lashing out against him on Facebook as well as on Twitter.
 
Andreessen wrote on Twitter: "Anti-colonialism has been economically catastrophic for the Indian people for decades. Why stop now?"
 
Although the tweet was subsequently deleted, the comment -- made after India's telecom watchdog the Telecom Regulatory Authority of India (TRAI) said no to discriminatory pricing of data content -- led to several Indians storming the social networking sites with angry reactions.
 
According to Zuckerberg, Facebook stands for helping to connect people and giving them voice to shape their own future.
 
"But to shape the future we need to understand the past. As our community in India has grown, I've gained a deeper appreciation for the need to understand India's history and culture," he posted.
 
"I've been inspired by how much progress India has made in building a strong nation and the largest democracy in the world, and I look forward to strengthening my connection to the country," the 31-year-old billionaire added.
 
On Monday, TRAI said in a much-awaited regulatory order that "No service provider shall offer or charge discriminatory tariffs for data services on the basis of content."
 
"No service provider shall enter into any arrangement, agreement or contract, by whatever name called, with any person, natural or legal, that has the effect of discriminatory tariffs for data services being offered or charged to the consumer on the basis of content," the watchdog added.
 
Reacting to the TRAI order, Facebook said it was "disappointed with the outcome", but will continue its "efforts to eliminate barriers and give the unconnected an easier path to the Internet".
 
"While I am disappointed with the decision, I want to personally communicate that we are committed to keep working to break down barriers to connectivity in India and around the world. Internet.org has many initiatives, and we will keep working until everyone has access to the internet," Zuckerberg had posted on Facebook.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)