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In a startling development, officials within the Securities and Exchange Board of India (SEBI) have voiced deep concerns over a “toxic” work culture under the leadership of Chairperson Madhabi Puri Buch. These allegations, formally communicated to the finance ministry, depict a troubling work environment plagued by unattainable demands, unprofessional conduct and mental health crises, according to a report by the Economic Times. In essence, a <keyword id="21410642" type="General" weightage="100" keywordseo="toxic-work-culture" source="keywords">toxic work culture</keyword> is an environment that fosters negativity, dysfunction and a lack of trust among employees and management. This type of culture can manifest in various ways that are often harmful to both employees and organisations, severely impairing organisational growth and employee well-being. Identifying a toxic work culture is crucial for both employees and organisations. Recognising signs and symptoms of toxic work culture can often be the first step toward addressing and improving <keyword id="20346862" type="General" weightage="20" keywordseo="workplace-culture" source="keywords">workplace culture</keyword>. Below are 10 indicators that may indicate a toxic environment. High <keyword id="21462876" type="General" weightage="20" keywordseo="employee-turnover" source="keywords">employee turnover</keyword>: A persistent pattern of employees leaving the organisation often signals dissatisfaction with the work culture. When turnover rates are high, it reflects a breakdown in the employer-employee relationship, typically due to a lack of respect or support from management. <keyword id="14609778" type="General" weightage="20" keywordseo="Quiet-quitting" source="Orion">Quiet quitting</keyword>: This phenomenon occurs when employees disengage from their roles, doing only the minimum required. It highlights a lack of motivation and connection to the organisation's goals, often stemming from a toxic atmosphere. Bullying and harassment: Any form of bullying or harassment, whether verbal or psychological, creates a hostile work environment. Such behaviours not only undermine morale, but also instil fear among employees, leading to increased stress and anxiety. <div type="Article" hostid="261" msid="111982335" title="Employees lack trust in HR’s ability to address workplace bullying effectively—and for good reason, says study" mstype="2" mssubtype="0"></div>Constantly changing goals: Frequent shifts in priorities without adequate communication can leave employees feeling disoriented and frustrated. This lack of clear direction can hinder productivity and contribute to a sense of futility in their efforts. <keyword id="23035059" type="General" weightage="20" keywordseo="poor-leadership" source="keywords">Poor leadership</keyword>: Ineffective or toxic leadership can significantly impact workplace culture. Leaders who exhibit favouritism, lack consistency or disregard employee welfare contribute to a negative environment that can drive talent away. Lack of transparency: When communication is poor and information is not shared openly, it breeds distrust and uncertainty. Employees may feel left in the dark about important decisions, which can exacerbate feelings of insecurity and disengagement. <keyword id="19954076" type="General" weightage="20" keywordseo="micromanagement" source="keywords">Micromanagement</keyword>: Excessive oversight from management can create an environment of fear and anxiety. Employees who feel constantly monitored may struggle to perform at their best, leading to decreased morale and productivity. Inadequate support systems: Employees who lack sufficient resources or support may feel overwhelmed and undervalued. A toxic environment often sets unrealistic expectations without providing the necessary tools for success. Toxic gossip: While some office chatter is normal, pervasive negative gossip can create a divisive atmosphere. This behaviour undermines teamwork and can lead to a culture of distrust and hostility among colleagues. Poor <keyword id="19901232" type="General" weightage="20" keywordseo="work-life-balance" source="keywords">work-life balance</keyword>: A culture that prioritises work over personal well-being can lead to burnout. When employees are expected to sacrifice their personal lives for work, it can result in high stress levels and diminished job satisfaction.

Is your work culture toxic? Look out for these 10 signs

<ul class="summary-list"><li>The latest bump in the AI road was a downbeat earnings report from ASML that sent its shares tumbling.</li><li>But ASML's biggest customer, Taiwanese chipmaker TSMC, posted blockbuster results Thursday.</li></ul>Two days is a long time in the chip world. On Tuesday, the semiconductor market was downbeat following disappointing earnings from ASML, the Dutch company making the machines that make chips. By Thursday, Taiwan Semiconductor Manufacturing Company, the world's largest chip maker, had painted a <a target="_blank" class="" href="https://www.businessinsider.com/tsmc-earnings-taiwan-semiconductor-chip-ai-chip-demand-asml-china-2024-10">different picture with its earnings</a>: the AI-driven chip boom is far from over. The roller coaster earnings can be explained by several factors. Chief among them is TSMC and ASML's respective customers. ASML sells large lithography machines — which print circuit patterns onto silicon wafers — to chip manufacturers, including TSMC, Samsung, and Intel. The latter two companies have faced struggles of their own that are impacting the wider chip market. Intel, once the world's biggest chipmaker, <a target="_blank" class="" href="https://www.businessinsider.com/intel-qualcomm-takeover-bid-layoffs-foundry-spin-off-2024-9">has mounted a bid to turn the business around,</a> including 15,000 layoffs. And in early October, Samsung issued an apology for its poor financial performance."Intel and Samsung are falling behind TSMC from a technological point of view," Javier Correonero, equity analyst at Morningstar, told Business Insider. "This is just customer-specific problems as Intel and Samsung cannot ramp up new nodes properly, but this has nothing to do with demand."Meanwhile, TSMC is a competitor to Intel and Samsung. Its customers include Nvidia, the GPU designer spearheading the AI chip boom, along with AMD and Qualcomm. This makes TSMC a good bellwether for AI chip demand.TSMC reported a <a target="_blank" class="" href="https://www.businessinsider.com/tsmc-earnings-taiwan-semiconductor-chip-ai-chip-demand-asml-china-2024-10">54% rise in third-quarter net profit</a> to a record 325.3 billion New Taiwan Dollars, or $10.1 billion. The forecast-beating results were driven by strong demand for AI despite lingering questions over the <a target="_blank" href="https://www.businessinsider.com/ai-return-investment-disappointing-goldman-sachs-report-2024-6">technology's return on investment</a>.By contrast, ASML, Europe's most valuable tech company, slashed guidance for next year, sending its stock plunging by 16% in its biggest single-day drop since 1998. <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/chipmakers-tumble-asml-guidance-semiconductor-nvidia-chip-growth-2024-10">Other chip stocks followed</a>, with Nvidia dipping almost 5%, AMD falling 5.3%, and Broadcom tumbling 3.5% around midday Tuesday. Their shares steadied on Wednesday. Another factor at play is that chipmakers increased their manufacturing capacity to meet rising demand during the pandemic. Now, chipmakers such as Intel, Samsung, and TSMC have pulled back on ASML orders because they realize they have plenty of capacity, Dan Hutcheson, vice chair at analyst firm TechInsights, told Reuters. It's also key to distinguish that not all chips are for AI — and weaker demand for other areas like PCs can drag growth. "It is important to notice that semis have many subsegments, and while some subsegments can be in a bottom (like PCs), others can be on a top (AI), so it's difficult to predict where overall demand will be in 18 months," Correonero said.<h2 id="4de96bdb-cb04-4a05-9ac5-6a389f3025a7">Demand for AI remains high </h2>In a conference call on Thursday, TSMC's chief executive, CC Wei, reassured investors that the company's growth was real and rejected that AI was in a bubble."This is a tangible ROI benefit," he said in response to a question from JPMorgan analyst Gokul Hariharan. "We cannot be the only one company that have benefited from this AI application. So, I believe a lot of companies right now are using AI and further on improving productivity, efficiency, and everything."For now, investors seem to favor faster-growing companies like TSMC."It looks like TSMC seems to be in the better place for the time being, bolstered by its faster growth rate," Correonero said."TSMC seems more aligned with Nvidia and others, where demand has held up much better in recent months, and indeed shows signs of recovering after a mixed summer," he added.While a slowdown at ASML might suggest some caution, the bigger picture still points to a continued surge in AI demand."In the short to medium term, AI applications, data centers, and advanced chips are still driving strong demand," said Kate Leaman, chief market analyst at <a target="_blank" href="http://avatrade.co.uk/">AvaTrade</a>. "So, while ASML might be experiencing a temporary slowdown, companies like TSMC could continue delivering strong results thanks to these high-growth areas."As other chip firms such as Qualcomm and Intel publish earnings in the coming weeks, a clearer picture of the market will emerge. "For now, the AI boom seems to be sustaining solid growth for chipmakers," Leaman added.

What the roller coaster earnings at ASML and TSMC tell us about demand for AI chips

Domestic <keyword id="21999883" type="General" weightage="20" keywordseo="passenger-vehicle-retail-sales" source="keywords">passenger vehicle retail sales</keyword> declined 1 per cent year-on-year in May, as blistering <keyword id="21177616" type="General" weightage="20" keywordseo="summer-heat" source="keywords">summer heat</keyword> and elections impacted demand, <keyword id="21580028" type="General" weightage="20" keywordseo="automobile-dealers" source="keywords">automobile dealers</keyword>' body <keyword id="20108734" type="General" weightage="20" keywordseo="FADA" source="keywords">FADA</keyword> said on Monday. Passenger vehicle registrations dipped to 3,03,358 units last month, as compared with 3,35,123 units in May 2023. "Dealers cited the impact of elections, extreme heat and market liquidity issues as major factors for the dip in sales last month," the Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania said. Despite better supply, some pending bookings and discount schemes, the lack of new models, intense competition and poor marketing efforts by original equipment manufacturers (OEMs) also affected sales, he added. Additionally, the month saw increased customer postponements and low enquiries, Singhania stated. Due to the extreme heat, the number of walk-ins to showrooms dropped by around 18 per cent, he said. Two-wheeler sales rose 2 per cent to 15,34,856 units in May, as against 14,97,778 units in the same month last year. Singhania said positive rural demand on account of good rains in some regions and improved finance availability kept the counters ticking. Three-wheeler retails rose 20 per cent year-on-year to 98,265 units last month. While commercial vehicle sales witnessed an increase of 4 per cent at 83,059 units last month, as compared to 79,807 units in May 2023. "Despite growth due to a low base from last year and increased bus orders, the industry faced challenges due to wholesale pressures, government policy effects, and negative market sentiment," Singhania said. He noted that the near-term outlook for automobile retail is 'cautiously optimistic', influenced by a mix of positive and challenging factors across various segments. Government formation is expected to bring stability and improve market sentiment, Singhania said. Dealers are hopeful about better supplies and positive movement in key sectors like cement, coal and iron ore, he said. Above normal rains during monsoon, is expected to enhance rural demand and support economic activities, he added. "However, extreme weather, such as heatwaves and heavy rains, along with the reopening of schools in July, might delay purchase decisions," Singhania said. Challenges persist, including intense competition, lack of new model launches and poor marketing efforts by OEMs, he said. FADA, which represents over 15,000 automobile dealerships having over 30,000 dealership outlets, collated sales data from 1,360 out of 1,503 RTOs across the country. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/tata-altroz-racer-hatchback-launched-in-india-starting-at-9-49-lakh/articleshow/110798203.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tata-altroz-racer-hatchback-launched-in-india-starting-at-9-49-lakh/articleshow/110798203.cms" target="_blank">Tata Altroz Racer hatchback launched in India starting at ₹9.49 lakh</a><a href="https://www.businessinsider.in/business/webstories/nvidia-beats-apple-becomes-second-most-valuable-company-top-10-companies-by-market-cap/slidelist/110793951.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/webstories/nvidia-beats-apple-becomes-second-most-valuable-company-top-10-companies-by-market-cap/slidelist/110793951.cms" target="_blank">Nvidia beats Apple, becomes second most valuable company: Top 10 companies by market cap</a><a href="https://www.businessinsider.in/tech/news/indian-smartwatch-shipments-remain-flat-in-q1-2024-the-year-expected-to-end-in-a-decline/articleshow/110789121.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indian-smartwatch-shipments-remain-flat-in-q1-2024-the-year-expected-to-end-in-a-decline/articleshow/110789121.cms" target="_blank">Indian smartwatch shipments remain flat in Q1 2024, annual shipments expected to end in a decline</a>

Passenger vehicle retail sales dip 1% in May as excessive heat, elections impact demand: FADA

<ul class="summary-list"><li>Travelers appear to be abandoning Airbnb due to high costs, excessive fees, and poor host service.</li><li>Airbnb was once a disruptor offering affordable stays but some say it has lost its charm.</li></ul>As the founder of a travel site, Michael Rozenblit and his partner Maggie have stayed in hundreds of Airbnbs over the past decade."We love the convenience of having our own space," Rozenblit told Business Insider. "Particularly when it comes to cooking our own meals and having a bit more comfort than is found in a typical hotel room."But after recent trips, Rozenblit said they have both "fallen out of love" with the platform. They claim places to stay on Airbnb are more expensive now than hotels, and hosts are not even providing toilet paper, trash bags, and coffee anymore.Rozenblit said cleaning fees are also extortionate, despite hosts demanding that guests do the chores. One host <a target="_blank" class="" href="https://www.businessinsider.com/high-airbnb-cleaning-fee-less-bookings-not-dipping-into-profit-2023-5">previously told BI</a> he charges $400."There are almost always over-the-top cleaning requirements for check-out, often including the requirement to take out the trash and strip the beds at the minimum," Rozenblit said.Travelers have become wise to this apparent shift. Airbnb was once hailed as a major disruptor of the vacation industry, allowing people to stay in cities all over the world in comfort and at a price tag much lower than costly hotels.But the pendulum has swayed the other way, with some holiday-makers now tired of the endless fees, and difficult hosts who can make their stays miserable, say experts.Locals in tourist hot spots, including <a target="_blank" class="" href="https://www.businessinsider.com/barcelona-airbnb-ban-florence-amsterdam-lisbon-are-regulations-working-2024-8">Barcelona</a> and <a target="_blank" class="" href="https://www.businessinsider.com/greece-middle-of-an-anti-cruise-rebellion-overtourism-economy-travel-2024-8">Athens,</a> have also <a target="_blank" class="" href="https://www.businessinsider.com/photos-of-protesters-rallying-against-overtourism-in-barcelona-2024-7">protested</a> overtourism this year, taking aim at the platform's hosts buying up properties and pricing them out.Airbnb warned investors of dwindling customer demand in an earnings call earlier this month, <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-vs-hotel-some-travelers-choose-hotels-for-price-quality-2024-8">BI reported</a>, and lowered its projected earnings for Q3 from $3.8 billion to between $3.67 billion and $3.73 billion.The company's revenue is also down 15% compared to this quarter last year, from a net income of $650 million to $555 million.Airbnb's stock has since tanked, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/airbnb-stock-price-consumer-demand-slowing-inflation-travel-pandemic-spending-2024-8?_gl=1*oitje4*_ga*MTIzMzIzMzcyNi4xNzEzNzg0Nzk5*_ga_E21CV80ZCZ*MTcyNDE0MjQ1NC4zMDYuMS4xNzI0MTQ0MjA4LjUxLjAuMA..">falling 14% in one day earlier this month</a>.Meanwhile, hotels have bounced back, with <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-vs-hotel-some-travelers-choose-hotels-for-price-quality-2024-8">former Airbnb fanatics returning</a> and some seeing pre-pandemic levels of occupancy, <a target="_blank" class="" href="https://www.statista.com/topics/1102/hotels/">according to Statistica</a>. The industry is expected to see an annual growth rate of 3.72% until 2029, when it is anticipated to be worth $511 billion, <a target="_blank" class="" href="https://www.statista.com/outlook/mmo/travel-tourism/hotels/worldwide">according to Statistica data</a>.Experts say hosts have a lot to answer for in Airbnb's downfall.<h2 id="ff01f1b4-94e7-4e95-a951-a5d181b7fff1">All about profit</h2>Grace Moser, the owner of the women's lifestyle blog Chasing Foxes, has been a full-time traveler since 2016 and believes hosts have played "a huge role in Airbnb's crash.""Airbnb essentially allows anyone to sign up to be a host, which will always prove to be problematic," she told BI. "Because when you have people flooding in year after year who are seeing it as a way for them to make quick cash, you're going to be met with bad customer service."Moser believes that the majority of hosts now aren't prioritizing the guest — "it's just another income stream where they do the bare minimum and know nothing about customer relations.""There's no training, only feedback to the host after the fact," she said. "If that customer either leaves a positive or ambiguous review, or none at all, they probably won't improve for the next person."Jessica Dante, a travel expert and the founder of <a target="_blank" class="" href="https://loveandlondon.com/">Love + London</a>, told BI it was the personal connection that guests and hosts would make that made Airbnb such a success in the early days when it launched in 2008."Most listings were with hosts that would be staying in the property with the guest or who were leaving for a few days and renting their place for a bit of extra income," Dante said. "Hosts would leave binders filled with local recommendations, be there to help with anything that guests needed, and you'd hear stories of guests and hosts that became great friends after a stay."These days, she said, the majority of hosts are staff or property owners who are "solely focused on maximizing revenue.""They charge cleaning fees while asking for chores to be completed, they aren't readily available where there's a problem, and they see guests as just a number," Dante said. "The personal connection has been lost."<h2 id="97a9c439-17f7-4c39-8210-6b8f47567e64">Nightmare hosts</h2>Stories about bad Airbnbs frequently hit the headlines, in part because wronged guests can go viral on TikTok with their experiences.In January, one traveler said the trailer she rented <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-woman-shares-freezing-cold-nightmare-rental-2024-1">was so cold she could see her breath</a>. Another described his "<a target="_blank" class="" href="https://www.businessinsider.com/tiktok-shows-san-diego-airbnb-broken-toilet-bed-in-garage-2023-10">Airbnb from hell</a>" as "the most pathetic excuse for a house" he's ever stayed in, with the toilet not attached to the wall and a bed in the garage.Last year, a woman booked a New Orleans Airbnb for Taylor Swift's Eras tour this fall, but <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-host-triples-price-for-taylor-swift-concert-2023-11">the host later tried to triple the price</a> when they realized they could charge a premium.Other horror stories include a guest saying their <a target="_blank" rel="" href="https://www.businessinsider.com/airbnb-guest-belongings-dumped-street-passport-checkout-date-compensation-2023-11">host dumped all their belongings</a>, including their passport, into the street after mixing up the checkout date and a woman saying her host didn't refund her booking when she had to cancel it <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-did-not-cancel-booking-when-guest-mom-was-dying-2023-11">after learning her mom was dying</a>.Duncan Greenfield-Turk, the chief travel designer at Global Travel Moments, told BI that hosts "without a doubt" have played a big part in Airbnb's unpopularity.Inconsistent quality and service have led to growing dissatisfaction and a lack of trust in the platform, he said."Unlike hotels, which generally adhere to industry standards, Airbnb experiences can vary widely from one property to the next," Greenfield-Turk said. "While some hosts provide excellent service, others have been accused of being greedy or neglectful, focusing on maximizing profits at the expense of guest satisfaction."Stories of unreasonable rules, hosts cutting corners, and being unresponsive when issues arise are only becoming more common, Greenfield-Turk said."These negative experiences contribute to a tarnished reputation for the platform as a whole, making the reliability of traditional hotels more appealing," he said.<h2 id="62730fa3-d9b8-46eb-bdab-f59f986a3e26">Hotels are bouncing back</h2>When Airbnb was new, it offered authentic, community-driven travel experiences, Greenfield-Turk said. But now, it's full of full-time, profit-driven businesses, meaning the original charm is gone.Airbnb's loss is the hotel industry's gain. The industry is making the most of the backlash by offering more personalized services and often matching or undercutting Airbnb prices.Rozenblit said travelers are more aware of the problems that can come with Airbnbs and see the benefits of hotels, where they have "little of these requirements placed upon them."For Airbnb to regain its footing, Greenfield-Turk said it will have to implement stricter guidelines for hosts, enforce transparency with its pricing, and reconnect with the community-driven values that set it apart in the first place."This shift toward commercialization has alienated a segment of travelers who were drawn to the platform for its promise of unique, personal experiences," Greenfield-Turk said."Instead, they are now often met with impersonal, hotel-like stays — without the consistency and reliability that hotels offer."BI has reached out to Airbnb for comment.

Hosts have ruined Airbnb with excessive fees, high demands, and bad customer service, travel experts say 

<ul class="summary-list"><li>Current and former employees at top AI companies are speaking out about the risks of AI.</li><li>At least nine <a target="_blank" href="https://www.businessinsider.com/openai-insiders-describe-sam-altmans-leadership-2023-12">OpenAI insiders</a> signed a letter calling for more protection for whistleblowers.</li></ul>A group of nine current and former <a target="_blank" href="https://righttowarn.ai/">OpenAI employees signed a letter</a> calling out tech firms over major concerns about the risks of artificial intelligence.In their letter, the tech workers called for more transparency in AI companies and better protections for whistleblowers who <a target="_blank" href="https://www.businessinsider.com/ai-godfather-geoffrey-hinton-universal-basic-income-2024-5">raise concerns about AI's power</a>."We are current and former employees at frontier AI companies, and we believe in the potential of AI technology to deliver unprecedented benefits to humanity," the letter said."We also understand the serious risks posed by these technologies. These risks range from the further entrenchment of existing inequalities, to manipulation and misinformation, to the loss of control of autonomous AI systems potentially resulting in human extinction," it continued. "AI companies themselves have acknowledged these risks, as have governments across the world, and other AI experts."A total of 13 people signed the letter, and they come from some of the top companies in AI, including <a target="_blank" href="https://www.businessinsider.com/openai-jan-leike-joins-rival-anthropic-days-after-leaving-2024-5">OpenAI, Anthropic</a>, and DeepMind. It was also endorsed by two men known as the "Godfathers of AI," Yoshua Bengio and Geoffrey Hinton."I decided to leave OpenAI because I lost hope that they would act responsibly, particularly as they pursue artificial general intelligence," Daniel Kokotajlo, a former OpenAI employee who signed the letter, said in a statement."They and others have bought into the 'move fast and break things' approach and that is the opposite of what is needed for technology this powerful and this poorly understood," he added.The AI employees outlined four demands they said would help mitigate existing issues of inequality and misinformation in AI.Here are the four principles the 13 employees said they want OpenAI and other AI companies to adopt:<ol><li>That the company will not enter into or enforce any agreement that prohibits "disparagement" or criticism of the company for risk-related concerns, nor retaliate for risk-related criticism by hindering any vested economic benefit;</li><li>That the company will facilitate a verifiably anonymous process for current and former employees to raise risk-related concerns to the company's board, to regulators, and to an appropriate independent organization with relevant expertise;</li><li>That the company will support a culture of open criticism and allow its current and former employees to raise risk-related concerns about its technologies to the public, to the company's board, to regulators, or to an appropriate independent organization with relevant expertise, so long as trade secrets and other intellectual property interests are appropriately protected;</li><li>That the company will not retaliate against current and former employees who publicly share risk-related confidential information after other processes have failed. We accept that any effort to report risk-related concerns should avoid releasing confidential information unnecessarily. Therefore, once an adequate process for anonymously raising concerns to the company's board, to regulators, and to an appropriate independent organization with relevant expertise exists, we accept that concerns should be raised through such a process initially. However, as long as such a process does not exist, current and former employees should retain their freedom to report their concerns to the public.</li></ol>An OpenAI spokesperson told Business Insider that the company was "proud of our track record providing the most capable and safest A.I. systems and believe in our scientific approach to addressing risk.""We agree that rigorous debate is crucial given the significance of this technology, and we'll continue to engage with governments, civil society and other communities around the world," the statement continued.Several OpenAI employees have departed over the past several weeks, including Ilya Sutskever, an OpenAI cofounder and former board member who voted to remove Sam Altman as CEO before expressing regret, and Gretchen Krueger, a policy researcher who shared concerns about transparency and <a target="_blank" href="https://www.businessinsider.com/another-openai-employee-quits-over-safety-concerns-2024-5">accountability at the ChatGPT maker</a>.After The Economist last week published an op-ed article by the <a target="_blank" href="https://www.businessinsider.com/openai-bret-taylor-larry-summers-op-ed-defend-sam-altman-2024-5">former OpenAI board members</a> Helen Toner and Tasha McCauley criticizing Altman and his company's safety practices, current board members came to his defense.In their own op-ed article, Bret Taylor and Larry Summers pushed back on the claims and said the board was "taking commensurate steps to ensure safety and security."Representatives for Google DeepMind and Anthropic did not immediately respond to a request for comment from Business Insider ahead of publication.

OpenAI employees are demanding change. Here are the 4 things they want.

<ul class="summary-list"><li>Russia's war against Ukraine has improved conditions for some poor Russians.</li><li>War-related activities have driven economic resilience, with 3.6% GDP growth last year.</li></ul>Russia's war against Ukraine has made some poor Russians better off, complicating any calculus over how to end it.Russia's sanctions-hit economy has appeared resilient even more than two years into the war, posting <a target="_blank" href="https://www.reuters.com/world/europe/russian-2024-gdp-growth-seen-matching-2023-36-finance-minister-says-2024-04-19">3.6% GDP growth</a> last year.Reports from Russia suggest the growth is primarily <a target="_blank" href="https://www.businessinsider.com/russia-economy-how-moscow-pays-war-economy-afloat-sanctions-ukraine-2024-2">driven by wartime activities</a> that generate demand for military goods and services, subsidies that steady the economy, and sharp policy-making."Russian economy is progressively becoming militarised," researchers at London's <a target="_blank" href="https://cepr.org/voxeu/columns/russian-economy-war-footing-new-reality-financed-commodity-exports">Centre for Economic Policy Research think tank</a> wrote in May."Some sectors and some regions have been winners in Russia's new war-oriented economy," they said.According to the CEPR researchers, production in war-related industries increased by 60% from the fall of 2022 to the spring of 2024. Manufacturing output from other sectors remained flat over the same period.Some of Russia's poorest regions are benefiting from a redistribution of wealth."The war has offered many people upward social mobility that was not available in the preceding decades of Russia's reintegration into global economy," the CEPR researchers wrote, referencing the fall of the Soviet Union.<h2 id="429b7e44-68ba-4443-900c-598c36e6cc6d">Higher pay than even the oil industry</h2>Households in regions where military recruitment is up have recorded higher deposits since the war started, according to a separate <a target="_blank" href="https://www.econstor.eu/bitstream/10419/283620/1/1881332993.pdf">Bank of Finland report</a> published in January. The research showed bank deposits grew about 30% from August 2022 to August 2023 in poor regions where more men were joining the war — outpacing 20% growth in other regions.An economist told <a target="_blank" href="https://www.rferl.org/a/russia-war-ukraine-wages-poverty-prosperity/32988390.html">Radio Free Europe</a> on Tuesday that increased wealth could make it difficult for the Kremlin to scale back the war in Ukraine, as that would also mean a slowdown in military-related production.Soldiers from poor regions who are now on the frontlines might struggle with a decline in income because there are few opportunities should they return home, Andrei Yakovlev of the Davis Center for Russian and Eurasian Studies at Harvard University told the media outlet.Higher pay comes with risks.The UK Ministry of Defence estimated in May that <a target="_blank" rel="" href="https://www.businessinsider.com/russia-lost-1200-a-day-highest-since-war-began-intel-2024-5">half a million Russian soldiers had likely been killed or wounded</a> since Russia's full-scale invasion of Ukraine in February 2022.This, alongside a <a target="_blank" href="https://www.businessinsider.com/russian-economy-brain-drain-labor-shortage-workforce-exodus-capital-flight-2023-9">brain drain</a>, is contributing to a manpower crunch in Russia — prompting the <a target="_blank" href="https://www.businessinsider.com/russia-economy-manpower-crunch-military-bonus-pay-salary-oil-gas-2024-5">military to pay more</a> than the lucrative oil and gas industries.The Russian army offers contract soldiers a <a target="_blank" href="https://contract.gosuslugi.ru/">nationwide sign-on bonus</a> of 195,000 rubles, or about $2,200, while salaries start at 210,000 rubles a month. In comparison, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-06/russia-s-war-mobilization-starves-its-crucial-oil-and-gas-industry-of-manpower">Bloomberg</a> calculated that workers in Russia's relatively high-paying oil and gas sector took home about 125,200 rubles in monthly nominal salary in the first two months of the year.Russia's economic report shows the country is increasingly caught in a web of challenges because of the war and its impact on the economy.While Russia's top central banker, <a target="_blank" href="https://www.businessinsider.com/elvira-nabiullina-russia-central-bank-governor-engineer-wartime-economy-putin-2024-4">Elvira Nabiullina</a>, and her team have managed to steady the economy so far, there are cracks emerging.Earlier this month, Herman Gref, the CEO of Sberbank — Russia's largest bank by asset value — said the country's economy was "<a target="_blank" href="https://www.businessinsider.com/russias-economy-definitely-and-strongly-overheated-sberbank-ceo-2024-6">definitely and strongly overheated</a>." Nabiullina herself warned in December that the country's economy was at <a target="_blank" rel="" href="https://www.businessinsider.com/russia-economy-central-bank-governor-nabiullina-warns-overheating-inflation-interest-2023-12">risk of overheating</a>.Last week, Igor Sechin, the CEO of the <a target="_blank" href="https://www.businessinsider.com/russi-economy-russia-rosneft-oil-ceo-complain-high-interest-rates-2024-6">Russian oil giant Rosneft</a>, complained that high interest rates — put in place to tamp inflation — were making financing hard for businesses.

Putin could struggle to end the war in Ukraine because it's making some poor Russians richer

<ul class="summary-list"><li>Elon Musk's $56 billion pay package is way too big, according to Ross Gerber.</li><li>The proposed compensation doesn't square with the stock's "horrendous" performance, he said.</li></ul>Elon Musk's $56 billion pay package is "outrageous," according to longtime Tesla investor Ross Gerber.Gerber, who previously <a target="_blank" href="https://www.businessinsider.com/tesla-investor-ross-gerber-running-for-seat-on-board-2023-2?_gl=1*14658bl*_ga*OTI1ODIwOTQ2LjE3MTYzOTg2NjU.*_ga_E21CV80ZCZ*MTcxODIxMDY5Mi40OC4xLjE3MTgyMTA3MDQuNDguMC4w#:~:text=Ross%20Gerber%2C%20CEO%20of%20investment,Gerber%20said%20in%20the%20call.?utm_medium=ingest&amp;utm_source=markets">ran for a seat</a> on Tesla's board, slammed Musk's <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-payday-reckoning-2024-6">proposed pay package</a> ahead of the results of the shareholder <a target="_blank" href="https://www.businessinsider.com/major-tesla-shareholder-opposes-elon-musk-pay-package-2024-6">vote on the CEO's compensation</a>.Gerber said Wednesday that the pay is far too generous, especially given Tesla's poor stock performance over the last two years. He added that he would vote against the proposal."Now we all have to suffer through this. And the amount of money is outrageous, and on top of the fact that the performance of company has been horrendous over the last two years," Gerber said in an <a target="_blank" href="https://www.youtube.com/watch?v=hU4yzZzpASg">interview with CNBC</a>, later adding that even half of Musk's proposed pay package would still be "outrageous" compensation for Tesla's CEO.Tesla stock has been volatile since Musk bought Twitter in 2022, Gerber said. Shares are down 28% year-to-date, partly due to <a target="_blank" href="https://www.businessinsider.com/will-cheaper-tesla-lure-buyers-ev-demand-2024-4">weak demand</a> and investor frustration with Musk's other projects, which <a target="_blank" href="https://markets.businessinsider.com/news/stocks/elon-musk-tesla-drug-use-stock-price-investors-ross-gerber-2024-2">distract from his duties leading the EV maker</a>, Gerber has previously said.Investors are voting on Musk's pay package for the second time on Thursday, after previously approving it in 2018. The package was <a target="_blank" href="https://www.businessinsider.com/elon-musk-delaware-battle-goes-beyond-55-billion-pay-package-2024-1">struck down by a Delaware judge</a> earlier this year in an investor lawsuit against Musk and the board of the company."The reason the pay package was voted down is because the board of directors at Tesla is an absent board. They're totally negligent, they all work for Elon, and it's not an independent board as required by the exchanges," Gerber said. "There's nobody to blame for this mess but Elon."Gerber acknowledged that Musk deserves to be paid, noting that his stake in Tesla has earned him a "fortune" over the past 10 years. However, Tesla's board needs to draft a new pay plan, one where shareholders are given the opportunity to negotiate on the amount."That's why I'm voting no. I just think that they're just creating more problems, and Elon and his board should work on a fair pay package," Gerber said. "There was no negotiating process at all … He's doing a deal with himself. I'd love to go to my own company and negotiate my own pay package with myself."Tesla is trying to <a target="_blank" href="https://www.businessinsider.com/elon-musk-enticing-tesla-shareholders-with-access-to-the-muskonomy-2024-6">entice its shareholders</a> to vote on proposals ahead of its annual meeting on Thursday, which include Musk's compensation plan and Tesla's potential move to <a target="_blank" href="https://www.businessinsider.com/tesla-shareholder-vote-delaware-texas-move-2024-4">incorporate in Texas</a>. Shareholders who vote for Musk's pay package have the opportunity to <a target="_blank" href="https://www.businessinsider.com/tesla-texas-gigafactory-tour-elon-musk-shareholder-vote-pay-package-2024-5">tour Tesla's Texas Gigafactory</a> with Musk and Tesla's Cybertruck designer, according to details on the company's website.

Longtime Tesla investor says Elon Musk's proposed $56 billion pay package is 'outrageous' amid poor stock performance

<ul class="summary-list"><li>A report about a rural bachelor who can't afford a $70,000 dowry in China was met with backlash on Monday.</li><li>Such a bridal price is many times over what a typical rural worker earns in a year.</li></ul>A Chinese state media report about rural men struggling to afford exorbitant dowries has triggered backlash online from people who say the bachelors are missing the point.State-run outlet Legal Daily <a target="_blank" href="http://legalinfo.moj.gov.cn/zhfxfzzx/fzzxyw/202403/t20240325_496559.html">published an article</a> on Monday covering the dating lives of three rural men in their early 30s, who said they can no longer keep up with rising "betrothal prices."The story of one man from Jiangxi province, whom Legal Daily gave the pseudonym Cheng Wei, went <a target="_blank" href="https://s.weibo.com/weibo?q=%23%E9%83%A8%E5%88%86%E5%86%9C%E6%9D%91%E5%A4%A7%E9%BE%84%E7%94%B7%E9%9D%92%E5%B9%B4%E5%9B%A0%E5%BD%A9%E7%A4%BC%E9%AB%98%E7%BB%93%E4%B8%8D%E8%B5%B7%E5%A9%9A%23">viral on Weibo</a>, China's version of X.According to state media, the man "lamented" that dowries in his home region had grown to about 500,000 RMB, or $70,000 — a nearly impossible cost for a rural worker."500,000 RMB is a very unrealistic expectation. To put things in perspective, the annual disposable per capita income among <a target="_blank" href="https://www.stats.gov.cn/english/PressRelease/202402/t20240201_1947120.html#:~:text=Among%20them%2C%20the%20median%20of,was%2086.4%20percent%20of%20the">rural residents in China is about 20,000 RMB</a>," Mu Zheng, a professor of sociology and anthropology at the National University of Singapore, told Business Insider.Such a dowry would likely cost rural families years of savings or could sink them in debt, Mu said.But instead of drawing sympathy, the report received a harsh response on Weibo. Many accounts, who listed themselves as female on their profiles, say men are using the unattainable dowries as an excuse for their undesirability as partners."Always discussing the dowry, and not discussing what the man is like, or what the bride's family must pay," <a target="_blank" href="https://weibo.com/2087169013/O6AJOg4LL?refer_flag=1001030103_">one top comment said.</a>"Then don't get married. No one wants to marry you if you have no money," <a target="_blank" href="https://weibo.com/2253853021/O6C9D5TIH?refer_flag=1001030103_">a blogger, who listed themselves as female, wrote.</a>As of Monday afternoon Beijing time, the topic received some 32 million views on Weibo, per data seen by BI.In China, grooms typically pay for dowries to the bride's family and can sometimes be expected to fork up the cash for huge expenses like cars or houses as a prerequisite.Some urban couples in China are now going for what is often dubbed a <a target="_blank" href="https://www.chinadaily.com.cn/a/201812/20/WS5c1b40a0a3107d4c3a001ece_10.html">"naked marriage,"</a> where people get hitched without the man first securing the dowry, car, apartment, or perhaps even a diamond ring. But the traditional practice of paying for your bride is still strong in rural areas, Mu said."The expectation for dowries has diverged in China due to both the rising costs of living — particularly with housing — consumerism, and rising individualism," she said.<h2>It's not about the dowries, people say</h2><a target="_blank" href="https://www.businessinsider.com/china-crackdown-betrothal-gift-bride-price-birth-rate-population-2023-3">Rising dowries have unsettled Chinese officials</a> already fretting about plummeting national birth and marriage rates. The state frequently <a target="_blank" href="https://www.chinadaily.com.cn/a/202402/02/WS65bc4904a3104efcbdae9469.html">discourages families</a> from demanding exorbitant betrothal agreements, in a bid to remove another obstacle to marriage.Yet the prevailing perspective on Chinese social media has been that fixating on surging dowry expectations is distracting from the real issue — that modern women want to wed for love and a stable future but are pressured to shore up marriage rates.In essence: A man who relies on a dowry likely doesn't make the cut, and women shouldn't be expected to marry him."If you don't believe me, tell a handsome guy to go on a blind date. I guarantee that someone will marry him even without a dowry, and even give birth to monkeys for him," wrote <a target="_blank" href="https://weibo.com/1823751845/O6CEEbNJJ">one commenter</a>, who listed themselves as female."Nowadays, independent urban women live freely and self-sufficiently, while older youths in rural areas want to get married," <a target="_blank" href="https://weibo.com/7310963831/O6Bke7rnr?refer_flag=1001030103_">another wrote</a>. "The two don't match up, so there's a severe gap.""It's not a question of whether the betrothal gift is good," one commenter added. "It's a matter of not finding a suitable marriage partner. If it's clear there's no good match, why persist?"The furor could partially stem from repeated messaging from provincial governments that <a target="_blank" href="https://www.businessinsider.com/china-operation-warm-beds-declining-marriages-sparks-social-media-storm-2021-10">affluent city women should return to their home villages</a> to marry rural bachelors. These campaigns sometimes go viral and get slammed on social media.Meanwhile, it's become increasingly clear that officials are concerned by the growing prevalence of singlehood among rural men, with state media often discussing such bachelors leading loveless lives. Local governments have been <a target="_blank" href="https://www.businessinsider.com/china-population-demographics-birthrate-fertility-subsidies-incentives-ivf-betrothal-gift-2023-10">concocting various policies and incentives</a> to encourage marriage in poorer areas.The divide is widening between marriage expectations held by Chinese women and those placed on them, Mu said."They demand better quality marriage, and are more likely to decide to get married when they feel it's right," she said. Meanwhile, many families in China still expect the wife to be the primary caregiver and homemaker.In the case of the dowry backlash, China is seeing more women refusing to take responsibility for fixing the nation's population woes, she said."Increasingly, they don't feel incentivized or that it's emotionally and morally right to get married for the sake of marriage, or in this case, to address the imbalanced marriage markets," she said.

Rural men in China say they're too poor to afford the massive dowries expected of them. People on social media say it's just an excuse.

<ul class="summary-list"><li>China is facing the "four D's": demand, derisking, demographics and debt, an economist said.</li><li>The country's leaders are going about solving the problem the wrong way, focusing on the supply side instead of demand.</li></ul>China is mired in <a href="https://www.businessinsider.com/china-economy-global-markets-xi-deflation-property-housing-evergrande-developers-2023-8">economic troubles</a>, from a crumbling property sector, deflationary pressures, and a poor debt outlook. According to one economist, all of its problems can be summarized by "four D's.""China is suffering from the four D's: lack of demand, derisking that the US and China are involved in, bad demographics, and heavy debt," Bill Lee from the Milken Institute said in a Bloomberg interview on Friday. "They really have a lot of headwinds to deal with."And it's not just that those factors have weakened the economy — the country's leaders aren't taking the right approach to digging the country out of its hole, Lee said."Right now, the management of the economy, the Central Economic Work Conference that just took place, they're pulling out the old solutions which is, we're going to bolster the supply side, try to make our industries modern, and we'll try to shift our resources to try to bolster the supply side of the manufacturing sector — that is not the solution they need to support the economy," he said.That's because China's problems are on the demand side — simply put, nobody wants to spend much. But fiscal policy in China, Lee explained, usually avoids putting money in the hands of Chinese households.China did pass a stimulus package about a month ago, but it was <a href="https://www.businessinsider.com/china-economy-stimulus-measures-but-property-tech-consumption-not-enough-2023-7">geared more towards businesses</a> than Chinese consumers. It also <a href="https://markets.businessinsider.com/news/bonds/chinese-financial-markets-sovereign-bond-sale-rates-liquidity-cash-crunch-2023-11">wreaked financial chaos.</a>As the economic malaise wears on, <a href="https://markets.businessinsider.com/news/stocks/foreign-investors-retreat-stimulus-chine-economy-growth-stock-market-csi300-2023-11">foreign capital is bleeding out of China</a>. Foreign investors have dumped more than $25 billion worth of Chinese shares this year, the Financial Times found, erasing about 77% of the money previously invested in the market. Compounding investors' dim view of the country's prospects, Moody's this month lowered China's credit outlook."One of the things that is going to come out of the [US] election campaign is that everyone will agree that we need to derisk from China," Lee said. "And one of the results we already see is the diversion of capital flows away from China to the rest of Asia. Unfortunately, the Chinese don't seem to recognize the seriousness of this."

China's problems boil down to demand, derisking, demographics, and debt, economist says

<ul class="summary-list"><li>Paul Gibbons was unhappy with the results of his $32,000 kitchen renovation.</li><li>In protest, he parked a tank outside the store responsible. It's now been there for over a month.</li></ul>An <a target="_blank" href="https://www.businessinsider.com/why-customer-dramas-go-viral-and-make-people-angry-tiktok-2023-5">unhappy customer</a> parked a decommissioned <a target="_blank" href="https://www.businessinsider.com/russia-made-tank-mistake-ukraine-learned-lesson-way-faster-expert-2024-1">tank</a> outside a home-improvement store that <a target="_blank" href="https://www.businessinsider.com/interior-design-kitchen-trends-in-and-out-2024">fitted his kitchen</a> and intends to keep it there until he gets a refund.Paul Gibbons, 63, spent £25,000, or around $32,000, on a kitchen installation by Wickes in Basingstoke, England, last February.He told the <a target="_blank" href="https://www.basingstokegazette.co.uk/news/24012619.tank-outside-wickes-man-fumes-poor-quality-kitchen/">Basingtonstoke Gazette</a> that the finish was "poor" and that much of the kitchen doesn't fit. He also said that there's mold under the sink and that the drawers and doors don't close."I am still left with a kitchen which I can't even use as you should," he told the local news outlet in December.Gibbons said he demanded a refund, but he decided to act when it wasn't forthcoming.In protest, <a target="_blank" href="https://www.basingstokegazette.co.uk/news/24084831.man-banned-every-wickes-country-tank-protest/">according to the Gazette,</a> he parked a 1963 decommissioned Abbot self-propelled gun tank, which he borrowed from a friend, outside the store in late December.The tank has remained there since December 27, despite Wickes' attempts to have it removed. The chain has also barred Gibbons from all its stores.The Gazette reported that Gibbons received a notice from Wickes saying the tank would be removed "within 14 days" of January 23.The home-improvement chain told BI in a statement provided by email that if the tank is not removed by the deadline, it would hire a specialist company to remove it.Wickes also said that Gibbons had demonstrated "unacceptable and aggressive" behavior to employees.It said it had reported these incidents to the police and issued him an exclusion notice to prevent him from entering the store's premises, which it said Gibbons has not complied with.The Hampshire Constabulary confirmed to BI that it had received two reports of harassment on the premises of Wickes, one on December 28 last year and another on January 8 this year.It said inquiries are ongoing to establish if any criminal offenses had occurred.But Gibbons, whom BI could not reach, insisted to the Gazette that he had not been aggressive.In the statement, Wickes also apologized to customers who "have been inconvenienced or concerned by the tank in any way."It said that it arranged for a local ombudsman to visit the kitchen, who recommended two to three days of remedial work to bring it up to standard, but Gibbons rejected the offer.He reportedly told the Gazette: "I want my money back and want them to take that kitchen out of my house so I can get a new one."

A customer angry about the 'poor' quality of his $32,000 kitchen parked a tank outside the store. It's been there for a month.

<ul><li>The health insurer’s IPO was not fully subscribed even after extending the cut-off time of the issue by a few hours.</li><li>The IPO was subscribed just 79% as of 7 p.m., on December 2.</li><li>Following this development, <keyword id="154694" type="General" weightage="20" keywordseo="star-health" source="Orion">Star Health</keyword>’s grey market premium went into negative with ₹10 discount over the higher issue band of ₹900.</li></ul>After <a href="https://www.businessinsider.in/stock-market/news/star-health-insurance-ipo-subscribed-only-79-on-last-day-issue-extended-till-7-p-m-/articleshow/88053197.cms">failing to get fully subscribed </a>on the last day of the initial public offering (IPO), investment bankers at Rakesh Jhunjhunwala-backed Star Health and Allied Insurance have decided to cut down on offer for sale (OFS) shares, said a source close to the development. When promoters and shareholders in the company sell their stake to the general public, it is called an offer for sale. On the last day, i.e., December 2, since the issue was only subscribed 79%, the IPO was extended till 7 p.m. Even after pushing the cut-off time, the results were disappointing as the IPO was not fully subscribed. <a href="https://www.business-standard.com/article/markets/star-health-s-ipo-scrapes-through-as-investment-bankers-prune-ofs-component-121120201297_1.html">Business Standard </a>report said that the OFS portion will be reduced to around ₹4,400 crore from ₹5,249 crore earlier. The health insurer’s IPO pricing of ₹870 to ₹900 is one of the reasons why investors were not willing to pay the price as valuations seem pretty expensive to many. Analysts and brokerages had raised their concerns on the high valuations of the insurance company. In fact, the company was offering investors shares at five times the price that marquee investor <a href="https://www.businessinsider.in/stock-market/news/star-health-ipo-is-asking-for-five-times-the-price-that-rakesh-jhunjhunwala-paid-in-2018/articleshow/87979818.cms">Rakesh Jhunjhunwala had paid in 2018</a>. He had bought 7.68 crore shares for a 14% stake in Star Health and Allied Insurance at an average price of ₹156.28 per share. Following this development, Star Health’s grey market premium went into negative at ₹10 discount over the higher issue band of ₹900. Rajnath Yadav from Choice broking firm thinks the IPO could have been cheaper. “At a higher price band of ₹900, Star Health is demanding a market cap-to-net premium earned multiple of 10.3 times, which is at premium to the peer average. Moreover, the demanded valuations are at elevated premium to recent capital issuance,” said the analyst. Besides, the company reported a loss of ₹825 crore in FY21 for the first time in three years because the pandemic increased the number of claims leading <a href="https://www.financialexpress.com/money/insurance/general-insurance-companies-received-over-rs-5400-crore-covid-claims/2099458/">many insurers to post losses last year</a>. SEE ALSO:<a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/anand-rathi-ipo-was-subscribed-160-on-day-1-today-is-the-second-day-to-subscribe/articleshow/88060085.cms">Anand Rathi IPO was subscribed 160% on Day 1, today is the second day to subscribe</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/last-day-to-subscribe-to-tega-industries-ipo-gmp-at-410/articleshow/88053432.cms">Last day to subscribe to Tega Industries’ IPO — GMP at ₹410</a>

Poor demand for Star Health’s IPO forces investment bankers to cut down on promoter offerings; GMP at ₹10 discount

San Francisco, In the wake of <keyword id="56423" type="PERSON" weightage="20" keywordseo="Poor-demand">poor demand</keyword> for iPhone 12 mini, Apple may consider halting its <keyword id="22637" type="COMPANY" weightage="20" keywordseo="production">production</keyword> in the second quarter this year, according to multiple reports based on the new forecast note by <keyword id="90700" type="PERSON" weightage="20" keywordseo="JP-Morgan-Chase">JP Morgan Chase</keyword>. JP Morgan Chase supply chain analyst William Yang adjusted his forecast for the current iPhone 12 series and the next-generation iPhone series, expected to be launched in the second half of 2021. Yang lowered the production volume of iPhone 12 and iPhone 12 mini by 9 million units and 11 million units, respectively, reports Apple Insider. According to him, "given that demand for the iPhone 12 mini seems to be weak, the supply chain may stop production of the phone in the second quarter of 2021". The analyst, however, raised the iPhone 12 Pro Max sales forecast by 11 million units, iPhone 12 Pro by 2 million units and iPhone 11 by 8 million units. Yang predicted that Apple aims to produce 80 million to 90 million iPhone 13 series, higher than the 76 million scheduled for the iPhone 12 series in the second half of 2020. According to him, there may not be new iPhone SE models in 2021. iPhone 12 mini is the smallest, thinnest, and lightest 5G smartphone in the world, re-architected to pack all the technology of iPhone 12 into a delightfully compact size, while still delivering an impressively large and immersive edge-to-edge display. With a 5.4-inch screen, compared with the <keyword id="865241" type="ORGANIZATION" weightage="20" keywordseo="Standard-Model">standard model</keyword>'s 6.1-inch display, it sports the same dual-camera setup on the back as the 12 model and looks absolutely stunning in hands. Apple delivered a phenomenal performance in the December quarter, returning to the top position with 90.1 million <keyword id="6355190" type="UNKNOWN" weightage="20" keywordseo="Devices">devices</keyword> shipped, driven by the success of the iPhone 12 series, according to data from the IDC's 'Worldwide Quarterly Mobile Phone Tracker'. For Apple, the festive quarter represents the highest shipment volume from a vendor in a single quarter and resulted in 23.4 per cent market share and 22.2 per cent (YoY) growth. Apple is reportedly ramping up production of <keyword id="57315" type="COMPANY" weightage="20" keywordseo="iPhones">iPhones</keyword>, iPads, Macs, and other devices in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> and Vietnam to end its dependence on China and new iPhone 12 series could be assembled in India "as soon as this quarter", Nikkei Asia reported. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/heres-why-you-arent-being-able-to-apply-for-brookfield-reit-ipo-through-zerodha-groww-angel-broking-and-other-stockbroking-apps/articleshow/80686457.cms">Here's why you aren't being able to apply for Brookfield REIT IPO through Zerodha, Groww and other stockbroking apps</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-explain-why-indigo-paints-shares-fell-with-a-thud-just-like-burger-king-and-mrs-bectors-and-what-to-do-with-it-now/articleshow/80704864.cms">Indigo Paints joins the league of Burger King and Bector's — frenzied IPOs that fizzled out</a> <a href="https://www.businessinsider.in/tech/news/the-india-stack-that-bill-gates-and-sundar-pichai-so-love-is-set-to-get-much-bigger-thanks-to-the-indian-governments-new-blockchain-strategy/articleshow/80718403.cms">The India stack that Bill Gates and Sundar Pichai so love is set to get much bigger – thanks to the Indian government’s new blockchain strategy</a>

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