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Dear reader, Yet another week comes to a close and India's financial landscape saw a slight dip after reaching for the skies last week. Yet, speculations around <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> possibly reaching the coveted 100,000 mark in early 2025 are on the rise. Meanwhile, excitement is building for Coldplay’s upcoming concert in January next year. However, there is some bad news for those who have purchased or sold tickets via unauthorised means. BookMyShow has lodged an FIR to investigate the illegal sale and purchase of tickets. On a more somber note, the tragic passing of a <keyword id="19955371" type="General" weightage="20" keywordseo="Bajaj-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Finance" meta.hostid="261" meta.entityid="Bajaj Finance">Bajaj Finance</keyword> employee made headlines this week and reignited discussions around the pressing issues of <keyword id="22447710" type="General" weightage="20" keywordseo="workplace-stress" source="keywords">workplace stress</keyword> and mental health. Coming to what’s happening in the corporate world, <keyword id="19904608" type="General" weightage="100" keywordseo="Amazon" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon" meta.hostid="261" meta.entityid="Amazon">Amazon</keyword> is considering a major overhaul of its management structure that could see thousands of <keyword id="21263592" type="General" weightage="20" keywordseo="managerial-roles" source="keywords">managerial roles</keyword> eliminated by next year, aiming for increased efficiency and significant cost savings. Additionally, popular YouTuber Ranveer Allahbadia recently faced a hacking incident, raising awareness about the importance of online account security and the necessary steps for recovery. Join us as we explore these compelling stories and more, helping you stay informed and engaged in this ever-evolving landscape. <h2>Top stories of the week: </h2><h2>Will Sensex touch the coveted 1,00,000 mark early next year? Experts weigh in </h2> The Indian stock market experienced a significant growth, with the BSE Sensexsurpassing 85,000 points last week. However on Thursday, October 3, the Indian stock market faced a substantial decline. Bothbenchmark indices, Sensex and Nifty 50, ended the trading day down by more than 2%. Meanwhile, analysts are speculating that the index could reach the 100,000 mark by early 2025, bolstered by a ₹57,359 crore inflow from foreign investors in September—the highest in nine months. <a href="https://www.businessinsider.in/stock-market/article/will-sensex-touch-the-coveted-100000-mark-early-next-year-experts-weigh-in/articleshow/113797957.cms" data-type="tilCustomLink" target="_blank">Read more </a> <h2>Coldplay India 2025 concert: BookMyShow might cancel tickets sold through unauthorised channels, files FIR</h2> BookMyShow took legal action against unknown scalpers involved in the reselling of tickets for Coldplay's "Music Of The Spheres World Tour " in India. The online ticket platform filed an FIR with the <keyword id="19906039" type="General" weightage="20" keywordseo="Mumbai-Police" source="keywords" meta.keywordsubtype="org" meta.entityname="Mumbai Police" meta.hostid="261" meta.entityid="Mumbai Police">Mumbai Police</keyword> on October 2, accusing scalpers of black market activity surrounding tickets for the band's highly anticipated shows in January 2025 at DY Patil Stadium in Navi Mumbai. BookMyShow might even consider cancelling the tickets purchased through unauthorised sources. <a href="https://www.businessinsider.in/business/news/coldplay-india-2025-concert-bookmyshow-might-cancel-tickets-sold-through-unauthorised-channels-files-fir/articleshow/113925164.cms" data-type="tilCustomLink" target="_blank">Read more </a> <h2>‘Being pressurised to meet targets at any cost, I am leaving’: Bajaj Finance employee dies by suicide, leaves note blaming work stress </h2> A couple of days back, EY employee Anna Sebastian Perayil’s death had left the entire nation shocked. This week, yet another tragic incident has unfolded in Jhansi. A 42-year-old area manager, employed by Bajaj Finance, was found dead in his home on Sunday morning. According to a PTI report, the employee, named Tarun Saxena, ended his life by hanging, leaving behind a suicide note in which he alleged severe work pressure and mental harassment by his superiors. <a href="https://www.businessinsider.in/business/news/being-pressurised-to-meet-targets-at-any-cost-i-am-leaving-bajaj-finance-employee-dies-by-suicide-leaves-note-blaming-work-stress/articleshow/113843117.cms" data-type="tilCustomLink" target="_blank">Read more </a> <h2>Amazon could cut 14,000 managers soon and save $3 billion a year, according to Morgan Stanley</h2> Last month, CEO Andy Jassy announced plans to boost the ratio of individual contributors to managers at Amazon by at least 15% by the end of the first quarter of 2025. By reducing the number of managers, Jassy aims to streamline operations, eliminating unnecessary layers of management and enabling the company to operate more efficiently without bureaucratic obstacles. This initiative could potentially result in the loss of around 13,834 managerial positions by early next year, which Morgan Stanley estimates could lead to cost savings of between $2.1 billion and $3.6 billion, according to a note released on Thursday. <a href="https://www.businessinsider.in/tech/news/amazon-could-cut-14000-managers-soon-and-save-3-billion-a-year-according-to-morgan-stanley/articleshow/113918663.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Ranveer Allahbadia YouTube channel hack – What steps should you take to protect and recover your account? </h2> Ranveer Allahbadia, widely known as BeerBiceps, recently faced a setback when his YouTube channels were hacked, leading to the deletion of all his videos and the renaming of his channels. However, YouTube has since removed the hacked accounts, and they were restored today, along with all the original content. While Allahbadia, as a prominent YouTuber, was able to regain access to his accounts with relative ease, not everyone has the same resources or connections. This situation highlights the importance of knowing how to safeguard your account and the steps to take if it becomes compromised. <a href="https://www.businessinsider.in/tech/news/ranveer-allahbadia-youtube-channel-hack-what-steps-should-you-take-to-protect-and-recover-your-account/articleshow/113738508.cms" data-type="tilCustomLink" target="_blank">Read more </a><h2> Top web stories of the week</h2> <a href="https://www.businessinsider.in/stock-market/webstories/indias-biggest-ipos-by-issue-size/slidelist/113916108.cms" data-type="tilCustomLink" target="_blank">India's biggest IPOs by issue size</a> <a href="https://www.businessinsider.in/thelife/webstories/9-effective-brain-exercises-to-improve-memory-and-focus/slidelist/113622167.cms" data-type="tilCustomLink" target="_blank">9 brain exercises to improve memory and focus</a> <a href="https://www.businessinsider.in/travel/india/webstories/tired-of-jaipur-check-out-these-7-alternative-places-in-rajasthan/slidelist/113819793.cms" data-type="tilCustomLink" target="_blank">Tired of Jaipur? Check out these 7 alternative places in Rajasthan</a>

Weekend wrap: Experts talk about Sensex reaching 100,000 mark, Amazon plans major managerial cuts

<ul class="summary-list"><li>Elon Musk and Vivek Ramaswamy have been tasked with cutting spending and red tape.</li><li>Past presidents have created commissions with the same goals, and they've had mixed results.</li></ul>Elon Musk and Vivek Ramaswamy are promising to tame the federal government. They aren't the first. But unlike Reagan and Clinton, who both largely failed attempts at taming federal spending and sprawl, their Department of Government Efficiency has a crucial advantage: Republican control of both chambers of Congress.That political reality means their ambitious goal of cutting $2 trillion in spending through budget reconciliation could need just 51 Senate votes — and Republicans are projected to hold 52 seats.Despite its name, Musk and Ramaswamy's panel, the Department of Government Efficiency, won't be a government department. Substantial changes to the federal budget would most likely require action from legislators, though Trump transition officials are reportedly looking for ways to <a target="_blank" href="https://www.washingtonpost.com/business/2024/11/13/elon-musk-government-efficiency-congress-budget-law/">short-circuit Congress' power</a> over spending.But the two men appear to be well positioned to advise Trump on how to make the deepest cuts to the federal government in generations.<h2 id="f17bde88-48d2-4aed-ae9d-cead1ffcb9b5">Past presidents have tried to cut the federal budget with mixed success</h2>The federal government isn't a business. Decisions about which agencies get which money for which purpose and how the money is raised are hashed out in Congress. Lacking the awesome power of a corporate CEO, past presidents, including Ronald Reagan and Bill Clinton, have struggled to tame the beast."There are a lot more restrictions on what you can and can't do," said David Walker, a fiscal watchdog who led the Government Accountability Office from 1998 through 2008. "There's a lot of cultural barriers."In 1982, Reagan tasked J. Peter Grace, a chemicals executive, with creating a team of private-sector "bloodhounds" to root through the government, looking for waste and inefficiency.Two years later, his crew of about 160 senior corporate executives, later known as the Grace Commission, published over 2,000 recommendations they said would save more than $424 billion over three years.The government's in-house budget experts, however, didn't think the changes would be as impactful as the Grace Commission did. Most of the proposals required acts of Congress that never materialized. Some changes, like improving the government's debt-collection efforts and reducing head count among certain groups of federal employees, were made by the executive branch, bypassing Democrats in Congress.The nonprofit Citizens Against Government Waste, which carried on the mission of the Grace Commission, said last year that the US government had cut spending by a cumulative total of $2.4 trillion since the 1980s by implementing recommendations from the Grace Commission and from the nonprofit itself. Musk has claimed his committee could cut nearly that much spending in one year.Clinton took another stab at cutting federal spending and improving government processes with his National Performance Review, which was led and staffed by federal employees instead of the private sector.The initiative succeeded in shrinking the federal workforce by more than 300,000 workers during Clinton's term, though the groundwork for some of those reductions was laid under Reagan. But <a target="_blank" href="https://govinfo.library.unt.edu/npr/library/papers/bkgrd/brief.html">only about a quarter of its proposals</a> that required legislative action managed to clear Congress.In 1999, the Clinton administration claimed that it had saved $137 billion. The <a target="_blank" href="https://www.gao.gov/assets/ggd-99-120.pdf">Government Accountability Office said</a> that figure included some double counting and nearly $25 billion that was merely "consistent with" the initiative's focus on "reinventing government."Musk and Trump's efforts could go further. Trump said the DOGE commission would have until July 4, 2026, to deliver a plan, but Musk said in a post on X that it would "be done much faster."<h2 id="94b4d06c-a556-4a4b-879d-8a7ebc8faa8b">What's different this time</h2>Any proposals from Musk and Ramaswamy that Trump accepts would have a much better chance of getting through Congress than those from Reagan's or Clinton's commissions because Republicans are on track to control both chambers of Congress.Reagan's and Clinton's commissions came up against a Congress at least partly controlled by the other party. While contentious bills often can't clear the Senate because 60 votes are required to overcome the filibuster, many spending-related proposals can pass with a 51-vote majority through a process called budget reconciliation. Republicans are set to hold 52 seats starting next year.Thomas Schatz, the president of Citizens Against Government Waste, said Trump would likely have at least two opportunities to pass a budget through reconciliation. The fact that Musk and Ramaswamy will have had a two-month head start before Trump is sworn in also helps, he said.This government-efficiency effort "can be set up faster," he said. "It depends on how many members the president would like on the commission, and I have no idea. They haven't asked me. My suggestion is to keep it smaller."In the past, Musk has said the Securities and Exchange Commission, which has sued him twice, is "broken" and accused the Federal Aviation Administration of delaying SpaceX launches with "kafkaesque paperwork."In recent posts on X, he has floated the idea of rewarding government employees who spend wisely and firing those who waste money. Congress hasn't figured in recent posts, though in 2022 Musk <a target="_blank" href="https://x.com/elonmusk/status/1589714533345812480">tweeted</a> that he preferred when the presidency and Congress were controlled by different parties.In a September appearance on Lex Fridman's podcast, Ramaswamy outlined a thought experiment for shrinking the federal workforce: Fire all nonelected federal workers whose Social Security numbers end in odd numbers, then fire half of the remaining employees, those whose numbers start with odd digits.He argued that this arbitrary 75% reduction — about 2.2 million workers — would avoid discrimination lawsuits while barely affecting government services.Veronique de Rugy, an economist at the libertarian think tank Mercatus Center, has said Musk and Ramaswamy could save $2 trillion if they embraced what many other economists would consider radical reforms. She said that ending aid to states — which the Cato Institute estimated amounted to $697 billion in 2018 and $721 billion in 2019 — could go a long way, as could hacking away at corporate welfare for sectors like pharmaceuticals and electric cars.But she also expressed skepticism about the Trump administration's ability to build the bridges that could be necessary for big changes. "They're going to piss off everyone for stupid reasons," she said.There are also third rails of political spending that some are doubtful Trump will be able or eager to tackle, even if Musk and Ramaswamy advised him to do so.Social Security and Medicare are the two single biggest areas of federal spending, and changing them could be politically unpopular. Trump has generally said he won't touch them — except for <a target="_blank" href="https://www.businessinsider.com/trump-tax-cuts-social-security-boomers-benefit-fund-depletion-2024-11">eliminating taxes on Social Security</a> payments, which would mean fewer benefits for retirees in the future.Earmarks, which allow members of Congress to send money back to their home districts and states, are another significant source of federal waste, and even a GOP-led House and Senate may be leery of getting rid of them."The incentive in politics is to make friends," de Rugy said. Everyone, she added, likes a ribbon-cutting ceremony.

Why Elon Musk's push to cut federal waste might succeed where others failed

<ul><li>The massive power cut in India’s financial capital Mumbai on October 12 may have been the work of hackers. </li><li>The Maharashtra Police’s cyber cell probe has reportedly found evidence of suspicious logins and is working to determine if this was a coordinated attempt to take down Mumbai’s power grid.</li><li>According to an earlier statement by the state’s Energy Minister Nitin Raut, the possibility of sabotage cannot be ruled out.</li></ul>The power was out in Mumbai for nearly a day on October 12, putting the stock exchanges, medical facilities, and other critical infrastructure at risk. Now, the state police’s cyber cell probe has reportedly revealed that this may have been the work of state-sponsored hackers. Sources told the <a href="https://mumbaimirror.indiatimes.com/mumbai/cover-story/oct-12-blackout-was-a-sabotage/articleshow/79312959.cms">Mumbai Mirror</a> that multiple ‘suspicious’ logins on the supply and transmission utility servers were detected during the month-long probe. Most of these accounts were from other Asian countries, including Singapore. The investigation is currently ongoing to determine whether it was a coordinated attempt to bring down India’s financial capital. State-sponsored hackers targeting India According to a report by <a href="https://www.businessinsider.in/tech/news/top-cyber-espionage-groups-that-have-india-in-their-crosshairs/slidelist/79120867.cms">CYFIRMA</a>, at least four different state-sponsored hacking groups have India in their crosshairs. This includes Mission 2025, Apt36, Stone Panda, and the infamous Lazarus Group. However, until more information comes to light, there’s no way to tell whether it was one of these four groups or a new player altogether that attacked India’s power grids. According to Mumbai Mirror, the attempts to break through have been ongoing since February — shortly after the COVID-19 outbreak started to spread. At the time of the Mumbai power outage, Maharashtra’s Energy Minister Nitin Raut told the media that the possibility of sabotage could not be ruled out. “There was a technical problem and the Kharghar unit stopped. There was an islanding failure in Mumbai, which shouldn't have happened. This is the reason that the possibility of sabotage is suspected,” he said. Not the first time a power facility has been breached in the last 6 months Earlier this year in June, there was another breach at the Jammu and Kashmir Power Department's data centres. Not only was the department rendered inoperable for three days, its website and mobile app were also taken down. Neel Kamal Singh from the IT wing of the J&amp;K Power Department <a href="https://twitter.com/jkmediasocial/status/1276213262229450752">told the press</a> that it was a ransomware attack, where all official files and data have been encrypted by the hackers. Before the attack was finally shut down, the hackers were able to compromise at least four servers. India is not alone Methods of warfare are no longer restricted to horses or firepower. Most attacks now happen in the digital space, and India is not alone in its struggles. Canada, for instance, has named China and Russia as primary threats to its cybersecurity. The country’s Communications Security Establishment (CSE) fears that these foreign actors are likely to target Canada’s power supply. The US has also identified China as a threat to its national security, with the possibility of an attack on some of its critical infrastructure. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-shares-jump-after-selling-stake-in-indus-towers-for-3760-crore/articleshow/79316662.cms">Vodafone Idea soars nearly 5% on fund infusion from Indus Towers stake sale</a> <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-was-supposed-to-launch-today/articleshow/79315462.cms">PUBG Mobile India was rumoured to launch today — but there is no official update from the company</a> <a href="https://www.businessinsider.in/finance/banks/news/lakshmi-vilas-bank-is-the-fifth-financial-firm-after-ilfs-dhfl-yes-bank-and-pmc-bank-to-collapse-in-india/slidelist/79286096.cms">Lakshmi Vilas Bank is the fifth financial firm to collapse in India within the last 30 months</a>

Mumbai’s massive power cut last month may have been the work of hackers

Mumbai (Maharashtra) [India], February 19 (ANI): Stock indices opened on a positive note in the start of the trading week, indicating a surge towards the positive trajectory. The Sensex opened 73.11 points up at 72,517.06, while the <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> began 42.50 points higher at 22,082.55. Among the Nifty companies, 38 witnessed advances while 11 experienced declines in the opening session. The opening session saw notable performances from several companies. Wipro, SBO Life, M&amp;M, AdPorts, and Baja-Auto emerged as the top gainers, showcasing strong upward momentum. On the other hand, <keyword id="19950209" type="General" weightage="20" keywordseo="power-grid" source="keywords">Power Grid</keyword>, Britannia, SBI, <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword>, and NTPC faced losses, positioning them as the top losers in the initial trading hours. The domestic equity indices are anticipated to embark on a cautiously optimistic trajectory, influenced by mixed signals from global markets. Last week, Asian markets demonstrated a mixed performance, while US stocks closed lower amidst fading expectations for immediate interest rate cuts by the <keyword id="19901377" type="General" weightage="20" keywordseo="us-federal-reserve" source="keywords">US Federal Reserve</keyword>. Investors are closely monitoring various market catalysts, including domestic macroeconomic data, US Fed minutes meeting, crude oil prices, foreign capital inflows, and global market trends. <keyword id="19978188" type="General" weightage="20" keywordseo="varun-aggarwal" source="keywords">Varun Aggarwal</keyword>, founder and managing director, Profit Idea, said, "Indian markets have exhibited resilience amid volatility, extending gains for the fourth consecutive session. The Sensex climbed 376.26 points to close at 72,426.64, while the Nifty 50 rose 129.95 points to settle at 22,040.70. The positive momentum was driven by a favorable Q3 earnings season, with the Nifty surpassing estimates with a 17 per cent YoY PAT growth, surpassing projections of +11 per cent". In the US, producer prices surged more than anticipated in January, primarily fuelled by robust increases in service costs, sparking concerns in financial markets about a potential acceleration in inflation. Aggarwal said, "Asian shares commenced trading with a mixed tone following Wall Street's downturn amid indications of stickier-than-expected US inflation. Chinese stocks are expected to open strongly after a week-long holiday, while Japanese equities witnessed fluctuations". Technically, the Nifty-50 closed above the crucial 22,000 level, encountering potential resistance near its all-time high, while hourly support is expected around 21,900 levels. Key technical indicators suggest an overbought scenario on hourly charts, indicating a likelihood of consolidation from current levels. Notably, the highest call Open Interest (OI) is observed at the 22,400 strike, while the highest put OI has shifted higher to 21,900 for the weekly expiry. The opening session reflects investor sentiment characterized by cautious optimism amid global market dynamics and ongoing economic developments. As trading progresses, market participants will closely monitor key indicators and news flows to navigate market volatility and capitalize on emerging opportunities. (ANI)

Sensex and Nifty open in the green: Wipro, M&M and Bajaj Auto top gainers

<ul><li>Electricity has resumed in India's financial capital after a massive power outage lasted over eight hours across Mumbai.</li><li>The power cut was the result of a grid failure at <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword>'s Kalwa plant.</li><li>Trains that were effected by the outage have been rescheduled and Mumbai University's exams have also been rescheduled to Sunday, October 18.</li><li>Maharashtra's Chief Minister Uddhav Thackeray has ordered a probe into the power cut.</li></ul>A massive power outage took Mumbai by surprise today morning. Even though electricity gradually returned to certain parts of the city, many were left without power until 7:30 pm. Mumbai is home to over 2 crore Indians and India's financial capital with the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) located within as well as the Reserve Bank of India (RBI). NSE and BSE were working fine initially but reportedly stopped updating for a while in the afternoon. No official statement has been made with respect to the same. <div type="twitter" handle="CNBCTV18Live" handlename="CNBC-TV18" image="http://pbs.twimg.com/profile_images/633210816485965824/0cQi0eZS_normal.jpg" favoritecount="149" retweetcount="33" status="NSE rates are not updating https://t.co/zsY6MWg1lu" createdat="1602490331000" id="1315565918651523073"></div> Maharashtra Chief Minister Uddhav Thackeray has asked for a probe into the incident to determine who is at fault. The Brihanmumbai Electric Supply and Transport (BEST) Electricity has pointed the finger at Tata Power. According to Tata Power, where there was an issue at its Kalwa plant, power has been fully restored from its end. Maharashtra Power Minister Nitin Raut updated that electricity has been restored to Mumbai Local Trains and priority is being given to emergency services like hospitals. <div type="twitter" handle="TataPower" handlename="TataPower" image="http://pbs.twimg.com/profile_images/1366738573/Logo-White-Bg_normal.png" favoritecount="221" retweetcount="46" status="Tata Power has progressively started restoring supply to all its customers starting from 12 noon and has restored supply fully." createdat="1602487909000" id="1315555760575672322"></div> According to the government, power is being restored in phases so as to not trip the grid again. Trains that had come to a standstill have also been rescheduled. <div type="twitter" handle="Central_Railway" handlename="Central Railway" image="http://pbs.twimg.com/profile_images/757888635278467072/yH6rD4Nc_normal.jpg" favoritecount="16" retweetcount="7" status="#PowerOutageFollowing CR long distance special trains rescheduled:01055 LTT-at 1200 hrs02542 LTT-Gorakhpur at12… https://t.co/IWPdgVbybA" createdat="1602485242000" id="1315544574002114561"></div> Mumbai’s sudden black out blamed on Tata Power Many parts of Mumbai, Navi Mumbai and Thane reported a sudden power cut at around 10:00 am. According to BEST Electricity, the power cut was a result of “TATA’s incoming electric supply failure.” <div type="twitter" handle="myBESTElectric" handlename="BEST Electricity" image="http://pbs.twimg.com/profile_images/1159394510234763264/GMXaqQ-n_normal.jpg" favoritecount="414" retweetcount="300" status="The electric supply is inttruptted due to TATAs incoming electric supply faiure. Inconveniences is regretted." createdat="1602478048000" id="1315514398207733763"></div> The company later issued a statement saying, "At 10.10 am there were simultaneous substation tripping in MSETCL's Kalwa, Kharghar causing a huge dip in frequency in Mumbai transmission system which led to tripping of power supply. Restoration work in progress to bring supply from the 3 Hydro units &amp; Trombay units." Meanwhile, Tata Power’s share price took a beating. The stock slipped nearly 2% to ₹53.55 after news broke. <div type="image" title="Copy of nifty50 (1)" msid="78614209" hostid="261" caption="&amp;lt;p&amp;gt;Tata Power&amp;#39;s share price in October so far&amp;lt;/p&amp;gt;"></div> "Inquiry will be held on what led to power failure in Mumbai," said Maharashtra Energy Minister Nitin Raut. A thought also echoed by Maharashtra Chief Minister Uddhav Thackeray. <div type="twitter" handle="ANI" handlename="ANI" image="http://pbs.twimg.com/profile_images/1497864299/ani_mic_logo_normal.jpg" favoritecount="76" retweetcount="13" status="#WATCH Public announcement about the temporary suspension of local train services being made at #Mumbai Central Rai… https://t.co/O9P0vqA8Ag" createdat="1602482341000" id="1315532405483081728"></div> Trains come to a standstill, Mumbai University exams get postponed At least two of the city's railway lines came to a standstill — till Diva on the Central Railway and till Vasai on the Western Railway. Security personnel were spotted helping commuters who wanted to get down from suburban trains now stuck. <div type="twitter" handle="Central_Railway" handlename="Central Railway" image="http://pbs.twimg.com/profile_images/757888635278467072/yH6rD4Nc_normal.jpg" favoritecount="108" retweetcount="19" status="Security personnel helping those commuters who wanted to get down from suburban trains which were held up in sectio… https://t.co/4V6wkZYF2r" createdat="1602488117000" id="1315556631661350917"></div> "In view of the interruption power at 10:05 hours due to grid failure of Tata Power company, services between Churchgate and Borivili are suspended. It shall be resumed as traction power supply is restored," said Western Railway. "Commuters are requested not to panic." <div type="twitter" handle="ANI" handlename="ANI" image="http://pbs.twimg.com/profile_images/1497864299/ani_mic_logo_normal.jpg" favoritecount="45" retweetcount="9" status="Mumbai: Commuters seen waiting at Mulund Station as train services are disrupted due to power outage after a grid f… https://t.co/ck571mbE3I" createdat="1602482050000" id="1315531185364234240"></div>The city’s stock exchanges — the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) — are functioning normally. <div type="image" title="powercut-twitter" msid="78615597" hostid="261" caption="&amp;lt;p&amp;gt;Emergency numbers&amp;lt;/p&amp;gt;"></div> The Common Entrance Test (CET), which kicked off from today, was conducted using power generators. The first shift of exam began at 9:30 am. "Due to the power backups, we have been able to continue the exam," said an official from the State CET cell. The next shift is set to begin at 2:30 pm. Mumbai University exams, on the other hand, have been postponed to Sunday on October 18 due to the massive power outage. Mumbai hospitals were instructed to assess that their supply of diesel was sufficient for eight hours and get enough supplies. BMC's disaster control department has been kept on stand by in case the power failure continues beyond two hours. Virtual court proceedings via video conference links were also put on hold at Bombay High Court principle bench due to power outage.

Massive power cut across Mumbai affects electricity for more than eight hours before grid gets restored

<ul><li>Mumbai University rescheduled all undergraduate and postgraduate examinations to Sunday following<a href="https://www.businessinsider.in/india/news/massive-power-cut-reported-across-mumbai-discom-points-finger-at-tatas/articleshow/78613787.cms"> a major power cut</a> that crippled Mumbai and the Mumbai Metropolitan Region. </li><li>Due to the pandemic, the university was conducting the exams online, and with no electricity in nearly all the regions of the city, the university had to postpone the exams.</li><li>The university also informed students that the timings of the exams would be the same on October 18. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>The University of Mumbai has rescheduled all undergraduate and postgraduate examinations to Sunday following<a href="https://www.businessinsider.in/india/news/massive-power-cut-reported-across-mumbai-discom-points-finger-at-tatas/articleshow/78613787.cms"> a major power cut</a> that crippled Mumbai and the Mumbai Metropolitan Region (MMR) of Thane, Raigad and Palghar. “All students are hereby informed that due to massive power breakdown all over Maharashtra and as the extent and time of power outage can’t be assessed, All UG and PG examination are being rescheduled to Sunday, 18th October 2020.,” said Hemlata Bagla, Principal KC College, Cluster Head university Examinations 2020. The university also informed students that the timings of the exams would remain the same. The final year exams for the students of the University of Mumbai began on October 1. Due to the pandemic, the exams were being conducted online and with no electricity in nearly all the regions of the city, the university had to postpone the exams. As many as 2.4 lakh students are appearing for the examinations this time. The power cut in MMR impacted almost all day-to-day activities of Mumbaikars — bringing even the city’s lifeline, the Central Railway and Western Railway to a grinding halt. The Brihanmumbai Municipal Corporation (BMC) issued helpline numbers for worried Mumbaikars. As of latest updates by 1 pm, the power has been restored in many parts of Mumbai including Lower Parel, Worli, Dadar, Kalina and Charni Road— after a blackout of over 2 hours. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/zomato-ceo-says-food-delivery-in-india-has-reached-pre-covid-levels/articleshow/78615955.cms" data-type="tilCustomLink">Ahead of its imminent IPO – Zomato CEO says food delivery in India has reached pre-COVID levels</a> <a href="https://www.businessinsider.in/india/news/massive-power-cut-reported-across-mumbai-discom-points-finger-at-tatas/articleshow/78613787.cms" data-type="tilCustomLink">Massive power cut across Mumbai due to grid failure —electricity restored in certain areas</a>

Mumbai University reschedules final exams after city suffers power outage — Here are the details

Maharashtra Energy Minister <keyword id="87586" type="PERSON" weightage="20" keywordseo="Nitin-Raut">Nitin Raut</keyword> on Wednesday said "foul play or sabotage" has not been ruled out in the mega-power shortage that tripped Mumbai Metropolitan Region on Monday and added that stringent action will be taken against all found guilty. Addressing the media, he said that the interim report of a probe committee set up by the state government will submit its report in a week and its recommendations would be implemented. Besides, a central team which came here on Tuesday is also probing into the incident that left large parts of MMR without power for periods ranging from 2-9 hours, playing havoc with the people, railways, traffic, business and commercial activities. "There are certain protocols that must be adhered to whenever any maintenance work is taken up. We shall investigate whether these protocols were followed or not by the officials of MahaVitaran. However, we don't rule out the possibility of sabotage or foul play and stringent action will be taken against those found guilty," Raut asserted. Late on Tuesday, in a cryptic statement, Raut had said: "Possibility of a sabotage cannot be ruled out in respect of the Power trip that resulted in blackout on Monday dated 12.10.20 at Mumbai, Navi Mumbai and Thane." According to officials on Monday, some maintenance work was taken up on the 400KV line in Kalwa and entire load was shifted to the line 2, which in turn tripped owing to some technical glitches and the cascading effect hit almost the entire MMR comprising Mumbai, Thane, parts of Palghar and Raigad districts. While private distributors like Adani, Tata and BEST had restored supply in their respective regions on Monday, some areas served by MahaVitaran remained without power for another around 24 hours, and resumed on Tuesday. Targeting the Minister, Opposition Bharatiya Janata Party legislator Atul Bhatkalkar asked Raut when he came to know it was "a sabotage" whether he informed Home Minister Anil Deshmukh in the matter. However, Raut responded by saying some people were trying to malign his department but the probe reports would reveal everything. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-dips-after-earnings-report-analysts-believe-it-will-take-a-while-to-catch-up-to-tcs-and-hcl-technologies/articleshow/78654023.cms">Wipro’s share price dips by over 6% after earnings — analysts believe it will take a while to catch up to TCS and HCL Technologies</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-new-iphone-12-series-with-5g-launched-starting-at-rs-69999-along-with-side-homepod-mini-debut/articleshow/78647779.cms">Apple's new iPhone 12 series with 5G launched starting at ₹ 69,999 along with HomePod Mini debut</a>

Mumbai's massive power outage probe yet to rule out 'foul play' or 'sabotage'

Mumbai, Benchmark equity indices Sensex and Nifty jumped in early trade on Thursday in-tandem with a rally in global markets after the <keyword id="19951097" type="General" weightage="20" keywordseo="us-fed" source="keywords">US Fed</keyword> projected three rate cuts this year. The 30-share BSE Sensex jumped 595.02 points to 72,696.71 in early trade. The <keyword id="19950205" type="General" weightage="20" keywordseo="nse-nifty" source="keywords">NSE Nifty</keyword> climbed 181.85 points to 22,020.95. From the Sensex basket, <keyword id="19950204" type="General" weightage="20" keywordseo="tata-steel" source="keywords">Tata Steel</keyword>, <keyword id="19971670" type="General" weightage="20" keywordseo="jsw-steel" source="keywords">JSW Steel</keyword>, IndusInd Bank, Power Grid, Wipro, and <keyword id="19903558" type="General" weightage="20" keywordseo="ntpc" source="keywords">NTPC</keyword> were the biggest gainers. Maruti and <keyword id="20050687" type="General" weightage="20" keywordseo="nestle" source="keywords">Nestle</keyword> were the laggards. In Asian markets, Seoul, Tokyo, and Hong Kong were trading significantly higher while Shanghai quoted lower. Wall Street ended with remarkable gains on Wednesday. "The uncertainty regarding the Fed decision is over with the Fed keeping the rates unchanged and refraining from a hawkish message. The Fed chief's statement that "inflation has eased substantially while the labour market has remained strong" conveys conviction about the soft landing of the US economy and the possibility of probably three rate cuts this year. "The response from the market was the US indices racing to record highs. This favourable global construct will have its positive impact on Indian markets too," said V K Vijayakumar, Chief Investment Strategist, <keyword id="19933343" type="General" weightage="20" keywordseo="geojit-financial-services" source="keywords">Geojit Financial Services</keyword>. Global oil benchmark Brent crude climbed 0.61 per cent to USD 86.47 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,599.19 crore on Wednesday, according to exchange data. "In a market buoyed by record closing on Wall Street and a confident stance from the Fed, Nifty is poised for significant gains, supported by optimistic economic projections," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. The 30-share BSE benchmark rebounded 89.64 points or 0.12 per cent to settle at 72,101.69 on Wednesday. The NSE Nifty climbed 21.65 points or 0.10 per cent to 21,839.10.

Sensex, Nifty surge in early trade amid global markets rally on US Fed rate cut plans

<ul><li>There is an ongoing <keyword id="2865476" type="General" weightage="80" keywordseo="heatwave-in-india" source="Orion">heatwave in India</keyword>, forcing millions of Indians indoors amidst the worst March in 122 years.</li><li><keyword id="487736" type="General" weightage="20" keywordseo="coal-shortage" source="Orion">Coal shortage</keyword> and <keyword id="6361137" type="General" weightage="20" keywordseo="power-cuts" source="Orion">power cuts</keyword> across the country have also worsened things for millions across the country.</li><li>This is where <keyword id="9451062" type="General" weightage="100" keywordseo="wet-bulb-temperature" source="Orion">wet bulb temperature</keyword> comes in and here’s why it is important.</li></ul>There is an ongoing <keyword id="6371478" type="General" weightage="20" keywordseo="heatwave" source="Orion">heatwave</keyword> in India that has forced millions of people indoors, with air conditioner sales nearly doubling when compared to the previous year. This heatwave has also brought the wet bulb temperature concept into mainstream conversation. There are multiple reasons behind this – while the current heatwave is not India’s worst, yet, we endured the hottest March in 122 years. <a href="https://www.businessinsider.in/india/news/why-are-there-power-cuts-and-heatwave-in-india/articleshow/91177785.cms">Coal shortages</a> and a drastic <a href="https://www.businessinsider.in/india/news/indias-peak-power-demand-touches-all-time-high-of-207111-mw-amid-alarming-heatwave/articleshow/91198935.cms">surge in power demand</a> have led to power cuts in several parts of the country – some as long as eight hours. In fact, there is a power cut right now as I write this story. Global warming is expected to worsen this situation with each passing year. And while the temperature and humidity levels give us a fair amount of idea about the weather outside, they do not tell us exactly how bad it can be for our bodies. This is where the wet bulb temperature is useful. <cmsannotation type="cmsannotation" annotationid="What is wet bulb temperature?" comment="subhead" text="What is wet bulb temperature?">What is wet bulb temperature?</cmsannotation> In simpler terms, wet bulb temperature tells us at what level our bodies will be unable to cool themselves down by sweating. In this case, the threat of a heat stroke rises dramatically. Wet bulb temperature combines heat and humidity to indicate how much evaporation can be absorbed into the air. It measures the lowest temperatures that our bodies can reach when we are in hotter environments, by sweating. <div type="image" title="wet-bulb" msid="91307695" hostid="261" caption="&amp;lt;p&amp;gt;An illustrative comparison of dry and wet bulb temperatures&amp;lt;/p&amp;gt;"></div> Our bodies cool themselves down in hot temperatures by sweating – when the sweat evaporates from the surface of the skin, the temperature of our bodies comes down. This evaporation is easier when you are in a drier zone with lower humidity levels. For instance, 35-degree Celsius in a coastal Indian city like Chennai is a lot more unbearable than in places like Hyderabad, Indore or any other non-coastal city in the country. This is because the humidity levels are much higher in coastal areas than those far away from the seas. When the air around you is already humid, it becomes difficult for the sweat on your skin to evaporate. When the sweat does not evaporate quickly enough, your body does not cool down and you start feeling uneasy. This is exactly what wet bulb temperature measures. <cmsannotation type="cmsannotation" annotationid="Why is wet bulb temperature important?" comment="subhead" text="Why is wet bulb temperature important?">Why is wet bulb temperature important?</cmsannotation> Dry temperature – or the temperature that we see in daily weather forecasts – does not tell you the full story. Wet bulb temperature, especially in times of a heatwave, tells us how habitable a place is for the human body. A wet bulb temperature of 32-degree Celsius is usually the maximum that a human body can endure and carry out normal outdoor activities in. This is equivalent to a dry temperature of 55-degree Celsius. The theoretical maximum wet bulb temperature is 35-degree Celsius – most humans, even with unlimited water supply, are likely to suffer heat strokes at this level, likely leading to death. <cmsannotation type="cmsannotation" annotationid="How to calculate wet bulb temperature?" comment="subhead" text="How to calculate wet bulb temperature?">How to calculate wet bulb temperature?</cmsannotation> Now that you know what wet bulb temperature is, and the maximum limit that you can survive in, you might want to know how to calculate it. This <a href="https://www.omnicalculator.com/physics/wet-bulb">handy calculator</a> helps you calculate the current wet bulb temperature. For this, you will need two details – the current dry temperature and relative humidity in the air, which will be available in weather forecasts. For instance, the dry temperature in Hyderabad at 10:30 a.m. today is 31-degree Celsius with 55% humidity. The current wet bulb temperature is 24-degree Celsius. In Chennai, the current temperature is 34-degree Celsius with 73% humidity, resulting in a wet bulb temperature of 29.8-degree Celsius. Notice the massive difference in the temperatures due to marginally high dry temperature, but a much higher level of humidity. Here’s a quick comparison for some other Indian cities: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">City </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Dry temperature </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Humidity </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Wet bulb temperature </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Hyderabad </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">31C </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">55% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">24C </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">34C </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">73% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">29.8C </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Delhi </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">34C </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">40% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">23.7C </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">32C </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">58% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">25.5C </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Indore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">34C </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">30% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">21.4C </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Bengaluru </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">29C </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">54% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">22.1C </td></tr></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/india/news/why-are-there-power-cuts-and-heatwave-in-india/articleshow/91177785.cms">EXPLAINED: Why is there a looming power shortage in India</a> <a href="https://www.businessinsider.in/india/news/indias-peak-power-demand-touches-all-time-high-of-207111-mw-amid-alarming-heatwave/articleshow/91198935.cms">India's peak power demand touches all-time high of 207,111 MW amid alarming heatwave</a> <a href="https://www.businessinsider.in/india/news/delhi-warns-centre-of-power-shortage-in-metro-and-hospitals-due-to-a-looming-coal-crisis/articleshow/91169332.cms">Delhi warns centre a power shortage may hit metro trains and hospitals due to a looming coal crisis</a>

Heatwave in India: What is wet bulb temperature, why is it important and how to measure it

<ul><li><keyword id="10850136" type="UNKNOWN" weightage="20" keywordseo="chinese-cybercriminals">Chinese cybercriminals</keyword>, dubbed <keyword id="10849528" type="COMPANY" weightage="20" keywordseo="redecho">RedEcho</keyword>, are targeting India’s <keyword id="6368906" type="COMPANY" weightage="20" keywordseo="power-grid">power grid</keyword> with background Trojans called ShadowPad.</li><li>The investigation by Recorded Future identifies 10 distinct power sector organisations and two maritime ports as targets of RedEcho.</li><li>The cybersecurity firm points out that this infiltration has little to offer in terms of economic espionage, but could be used as a ‘show of force’, a tool to sway public opinion or serve as research for bigger attacks in the future.</li></ul> Chinese cybercriminals are targeting the <keyword id="65314" type="ORGANIZATION" weightage="20" keywordseo="Indian-power-sector">Indian power sector</keyword>, according to a report by US-based cybersecurity company Recorded Future. The two Asian giants may be disengaging on the ground but relations do not seem to have thawed in the realm of cybersecurity. An investigation conducted by the firm’s Insikt Group claims to have discovered a steep rise in the attacks against many companies in India’s power sector. “10 distinct Indian power sector organisations, including 4 or the 5 Regional Load Despatch Centres (RLDC)... have been identified as targets in a concerted campaign against India's critical infrastructure,” <a href="https://www.recordedfuture.com/redecho-targeting-indian-power-sector/">said the report.</a> Chidambaranar and Mumbai ports were also identified as targets. <div type="image" title="china power grid attack map" msid="81274118" hostid="261" caption="&amp;lt;p&amp;gt;Suspected Indian power sector victims of RedEcho targeted intrusions&amp;lt;/p&amp;gt;"></div> However, Recorded Future pointed out that infiltration of RLDCs have very little to offer in terms of meeting any economic espionage objectives. But it does have its uses. Regardless of whether the attack itself was severe or not, the electric grid falls into the critical infrastructure category. The report <a href="https://go.recordedfuture.com/hubfs/reports/cta-2021-0228.pdf?utm_medium=email&amp;_hsmi=110851062&amp;_hsenc=p2ANqtz-9jdCA-FQY1DAHO0FT1PDC4VZzmFmLhLt2PHMaQMzioRH4rvElhlAXO9NRsMuvDFDoMuz-WYhwkkfzsMu3PUYoL3tCNwlNCtuCqcgtnG-DCbfosJVU&amp;utm_content=110851062&amp;utm_source=hs_automation">believes</a> such attacks are ideal for posturing and can deliver potential outcomes such as: <ul><li>To be a robust signaling message as a ‘show of force’</li><li>To enable influence operations to sway public opinion during a diplomatic confrontation</li><li>To support potential destructive cyber operations against critical infrastructure in the future</li></ul>These points are key because the discovery of the attack comes at a time when Indo-Sino relations are tense and <a href="https://www.businessinsider.in/defense/news/india-and-china-begin-to-disengage-from-friction-areas-along-the-border/articleshow/80831679.cms">disengagement attempts</a> on-going along the Line of Actual Control (LAC). <div type="Article" hostid="261" msid="77497819" title="After Jio, India's unicorn startups are the top target for Chinese hackers trying to get their hands on Indian users' data" mstype="2" mssubtype="0"></div> The two Asian giants were involved in their first fatal border clash in 45 years in <a href="https://www.businessinsider.in/defense/news/indian-army-on-india-china-war-in-galwan-valley-soldiers-killed/articleshow/76402297.cms">June last year</a>. Since then, their military forces have been locked in a face-off along multiple frictions points in Leh, especially along the southern banks of Pangong Tso Lake. Who are these Chinese Hackers? The first thing to note is that these attacks were using ShadowPad, which is one of the largest known supply-chain attacks, according to cybersecurity firm <a href="https://www.kaspersky.com/about/press-releases/2017_shadowpad-how-attackers-hide-backdoor-in-software-used-by-hundreds-of-large-companies-around-the-world">Kaspersky</a>. It is a covert background malware, which hides inside legit software. Once activated, it allows hackers to access the system in order to install more malicious software or steal data. <div type="image" title="Screenshot (629)_edited" msid="81274305" hostid="261" caption="&amp;lt;p&amp;gt; High-level RedEcho Terrorist Tactics, Techniques, and Procedures (TTPs) and Recorded Future data sourcing graphic &amp;lt;/p&amp;gt;"></div> Even though the investigators spotted some overlaps with other cybercriminal groups — like APT41, known for the <a href="https://securelist.com/shadowpad-in-corporate-networks/81432/">NetSarang</a> incident using ShadowPad, and Tonto Team — they don’t believe that there is enough evidence to pin the blame on any known perpetrators. In addition to APT41 and Tonto Team, ShadowPad is used by at least three other distinct Chinese groups. So, instead, this closely-related but distinct activity group has been dubbed RedEcho. SEE ALSO: <a href="https://www.businessinsider.in/business/news/elon-musk-and-reliance-industries-mukesh-ambani-compete-in-energy-storage-skytran-and-hyperloop/articleshow/81266903.cms">Elon Musk is facing a challenge from Asia’s richest man Mukesh Ambani in India⁠— both in energy and transportation</a> <a href="https://www.businessinsider.in/india/news/indians-are-heading-back-to-parks-supermarkets-and-pharmacies-but-malls-and-theatres-are-not-on-the-priority-list/articleshow/81271614.cms">Indians are heading back to parks, supermarkets and pharmacies — but malls and theatres are not on the priority list</a>

Chinese hacked into India’s power grid just to show that they can

<ul class="summary-list"><li>A Wharton professor said employees are leveraging AI to increase their productivity at work.</li><li>But they're not sharing their discoveries for fear of getting in trouble, he said.</li></ul>A Wharton professor has said companies should try to tempt employees to share how they're using AI to increase their personal productivity – rather than ban the tech and force them to hide it.While some companies have been upfront about their plans to <a href="https://www.businessinsider.com/ibm-halts-hiring-for-7800-jobs-that-could-be-replaced-by-ai-report-2023-5?r=US&amp;IR=T">incorporate AI tools</a> into workflows, others have <a href="https://markets.businessinsider.com/news/stocks/7-companies-that-have-banned-employees-from-using-chatgpt-1032340596">introduced strict bans</a> over privacy and legal fears. AI-powered tools such as <a href="https://www.businessinsider.com/chatgpt-ai-chaos-openia-google-creatives-academics-2023-1">OpenAI's popular ChatGPT</a> – the release of which sparked huge interest in <a href="https://www.businessinsider.com/chatgpt-changed-everything-and-was-a-black-swan-event-2023-5">generative AI</a> – have been known to <a href="https://www.businessinsider.com/ai-biggest-fears-risk-threat-chatgpt-openai-google-2023-6?utm_campaign=business-sf&amp;utm_medium=social&amp;utm_source=twitter">"hallucinate" facts, plagiarize, and produce biased content.</a>These concerns are understandably worrying for large companies, <a href="https://www.businessinsider.com/wharton-professor-ai-is-intern-who-lies-a-little-bit-2023-5">Ethan Mollick</a>, a management professor at the Wharton School of the University of Pennsylvania, <a href="https://www.oneusefulthing.org/p/detecting-the-secret-cyborgs" target="_blank" rel="noopener">wrote in a blogpost</a>."Right now, AI doesn't scale well. But, as a personal productivity tool, when operated by someone in their area of expertise it is pretty amazing," he wrote. Employees have already confessed to using <a href="https://www.businessinsider.com/ai-work-automation-octopus-energy-greg-jackson-2023-5">AI to boost their productivity</a> and cut their workloads, with some even using it to <a href="https://www.businessinsider.com/chatgpt-second-job-overworking-overemployment-2023-4">hold down multiple jobs</a>.However, employees aren't sharing their discoveries with their bosses for fear of getting in trouble, Mollick said. He advised companies to try and lure these workers out, offering them incentives such as shorter days to share their discoveries. He added the potential productivity gains would make this trade-off worth it for organizations. Mollick added that workers are already finding ways to get around bans on using AI at work, such as using their personal phones to access it.Generative AI is predicted to cause significant upheaval in the labor market, with <a href="https://www.businessinsider.com/chatgpt-ai-impacts-white-collar-college-educated-high-salary-jobs-2023-3">white-collar and college-educated</a> workers some of the most affected. In March, an <a href="https://www.businessinsider.com/generative-ai-chatpgt-300-million-full-time-jobs-goldman-sachs-2023-3">analysis from Goldman Sachs</a> estimated that the popular tech could impact 300 million full-time jobs worldwide and boost global labor productivity.

Workers are hiding their AI productivity hacks from bosses. A Wharton professor says companies should get them to share.

Welcome back, readers. Today we're covering <a href="https://markets.businessinsider.com/news/stocks/okta-stock-price-lapsus-hackers-claim-cyberattack-todd-mckinnon-2022-3">the Okta hack</a>, and showing you a new way to <a href="https://www.theverge.com/2022/3/22/22990983/zoom-virtual-avatars-animal-face-replacement">spice up Zoom meetings.</a>Ready? Let's get started. If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-in-tech">sign up here</a>. Download Insider's app – click <a href="https://apps.apple.com/app/apple-store/id554260576">here for iOS</a> and <a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider">here for Android</a>.<a href="https://markets.businessinsider.com/news/stocks/okta-stock-price-lapsus-hackers-claim-cyberattack-todd-mckinnon-2022-3"></a>1. Okta confirmed a hack. The authentication service, which is used by thousands of companies, confirmed that a hacker had access to one of its engineers' laptops for five days in January, but says its service "has not been breached and remains fully operational."<ul><li>The confirmation comes after hacking group <a href="https://markets.businessinsider.com/news/stocks/okta-stock-price-lapsus-hackers-claim-cyberattack-todd-mckinnon-2022-3">Lapsus$ posted screenshots</a> claiming to be of Okta's internal systems to its Telegram account. </li><li>In a <a href="https://www.okta.com/blog/2022/03/updated-okta-statement-on-lapsus/">blog post</a>, Okta's chief security officer said an attacker would have had limited access during the five-day period, and that the potential impact to Okta customers is confined to the access that support engineers have (which he lists <a href="https://www.okta.com/blog/2022/03/updated-okta-statement-on-lapsus/">here</a>).</li><li>An Okta hack would have a massive impact on businesses worldwide, as the company touts Peloton, T-Mobile, and the FCC — as well as Insider — among its customers. The incident has put thousands of <a href="https://www.theverge.com/2022/3/22/22990637/okta-breach-single-sign-on-lapsus-hacker-group">businesses on high alert</a>, The Verge reports. </li></ul>In other news:<a href="https://www.businessinsider.com/leaked-audio-buzzfeed-staffers-react-to-news-cuts-internal-meeting-2022-3"></a><div type="image" title="Buzzfeed CEO Jonah Peretti" height="2633" width="3511" msid="90398393" hostid="261"></div>2. Buzzfeed had a tumultuous day yesterday. The company announced <a href="https://www.businessinsider.com/buzzfeed-layoffs-and-commerce-struggles-2022-3">it's laying off 1.7% of its workforce</a>, and is asking for voluntary buyouts in its news division — prompting questions <a href="https://www.businessinsider.com/leaked-audio-buzzfeed-staffers-react-to-news-cuts-internal-meeting-2022-3">from furious staffers</a>. Three of its top editors are leaving, and sources told CNBC that investors have pressured the CEO <a href="https://www.cnbc.com/2022/03/22/buzzfeed-investors-have-pushed-ceo-jonah-peretti-to-shut-down-newsroom.html">to shut down Buzzfeed's entire newsroom.</a>3. We read the book that VCs are raving about. In "The Power Law," author Sebastian Mallaby offers a deeply researched history of venture capital, covering the figures and forces shaping the industry. <a href="https://www.businessinsider.com/the-power-law-book-sebastian-mallaby-history-of-venture-capital-2022-3">Read our 11 takeaways from "The Power Law."</a>4. Tesla's Berlin Gigafactory delivered its first vehicles yesterday. After a nearly nine-month delay, the Berlin-Brandenburg factory delivered 30 Model Y cars on its first day of production. <a href="https://www.businessinsider.com/tesla-germany-berlin-gigafactory-ships-cars-265-day-delay-2022-3">More on that here.</a>5. The cofounder of Owner.com used this pitch deck to raise $15 million. Alex Guild, the 21-year-old founder who started the software firm for independent restaurants, wooed investors with <a href="https://www.businessinsider.com/owner-startup-for-independent-restaurants-fundraising-pitch-deck-2022-3">this 20-page deck.</a> (PS — check out other slides from companies like Uber and Airbnb in our full <a href="https://www.businessinsider.com/searchable-database-of-business-insider-pitch-decks-2020-7">pitch deck library</a>.)6. Amazon has been dropped as a sponsor of the Seattle Pride Parade. Seattle Pride said it was cutting ties with the marketplace giant due to its "financial donations to politicians who actively propose and support anti-LGBTQIA+ legislation," among other things. <a href="https://www.businessinsider.com/amazon-dropped-as-sponsor-for-seattle-pride-2022-2022-3">More on that here.</a>7. Google's quantum "Sandbox" group is spinning out as an independent company. Now known as Sandbox AQ, the venture-backed SaaS business has secured funding from former Google CEO Eric Schmidt and Marc Benioff. <a href="https://www.businessinsider.com/google-alphabet-quantum-sandbox-independent-marc-benioff-eric-schmidt-2022-3">Get the full rundown here.</a>8. Buy now, pay later loans like Affirm and Klarna will soon affect your credit score. Three major US credit bureaus, TransUnion, Equifax, and Experian, are starting to collect data on these purchases. For now, Experian will be the only one to count the loans toward — or against — credit scores. <a href="https://www.businessinsider.com/buy-now-pay-later-loans-count-toward-credit-score-affirm-2022-3">Here's what you need to know.</a>Odds and ends:<a href="https://www.businessinsider.com/gas-prices-buy-electric-car-ev-ukraine-russia-2022-3"></a><div type="image" title="The 2022 Ford F-150 Lightning winter testing in the snow." height="1668" width="2223" msid="90398397" hostid="261"></div>9. Want to buy an electric car to escape spiking gas prices? Good luck. The increasing price of gas has pushed many drivers to consider switching to an electric vehicle, but dealerships across the country are low on inventory, and the ones that are available are pretty pricey. <a href="https://www.businessinsider.com/gas-prices-buy-electric-car-ev-ukraine-russia-2022-3">What you need to know if you're on the hunt for an EV.</a>10. Spice up your Zoom meetings with an animal avatar. With Zoom's new <a href="https://blog.zoom.us/avatars/#:~:text=Introducing%20Avatars&amp;text=When%20you%20turn%20on%20the,stored%20or%20sent%20to%20Zoom">Avatars feature</a>, you can sign into your next meeting as a dog, fox, rabbit, or other animal that mimics your facial expressions. <a href="https://www.theverge.com/2022/3/22/22990983/zoom-virtual-avatars-animal-face-replacement">See how the filter works (and how to enable it).</a>What we're watching today:<ul><li>Tencent and others are reporting earnings today. <a href="https://markets.businessinsider.com/earnings-calendar">Keep up with earnings here.</a> </li><li>The World Blockchain Summit kicks off <a href="https://tresconglobal.com/conferences/blockchain/dubai/">today in Dubai.</a></li><li>Business intelligence conference <a href="https://www.domo.com/domopalooza/agenda#/overview">Domopalooza</a> is happening today.</li><li>The Paris Peace Forum is publishing its <a href="https://parispeaceforum.org/">report on AI governance.</a></li></ul>Curated by Jordan Parker Erb in New York. (Feedback or tips? Email <a href="mailto:jerb@insider.com">jerb@insider.com</a> or tweet <a href="https://twitter.com/jordanparkererb?lang=en">@jordanparkererb</a>.) Edited by Michael Cogley in London.

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