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<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Pablo Sanchez/ Reuters</div></div></div>We've all heard about how fintech companies are threatening to disrupt traditional finance.Now the table's turned.Wells Fargo <a href="https://www.wellsfargo.com/about/press/2016/fastflex-smallbusiness-loan_0510.content">announced</a> Tuesday that it will start providing online loans for small businesses through FastFlex, a program that's been in testing last August.Borrowers need to pay weekly in the program, which offers one-year loans ranging from $10,000 to $35,000, according to Wells Fargo's press release. They can also draw funds as soon as the next business day. "With a $100 billion lending goal, we want to make every responsible small business loan we can. FastFlex Small Business Loan will help by offering short-term credit through an easy, fast-decision application process that includes competitive interest rates, clear terms and as-soon-as next day funding," Lisa Stevens, Wells Fargo's head of small business, said in the statement. Well Fargo's not the first to try and compete with the online lending startups. JPMorgan Chase partnered with OnDeck Capital to offer up to $250,000 in loans for its 4 million small business customers. Big banks are also <a href="http://www.businessinsider.com/big-banks-are-backing-online-lenders-2015-12">backing</a> online lending startups that are supposed to be disrupting them.They're also competing for depositors with online banks. Goldman Sachs recently began <a href="http://www.businessinsider.com/goldman-sachs-launches-online-saving-account-gsbank-2016-4">offering a digital savings account</a>, available to anyone with as little as a $1 deposit.The lending startups aim to bypass traditional banks and make it cheaper and faster to get loans online, and investors <a href="http://www.businessinsider.com/lending-club-ipo-sec-lockdown-2015-5">once loved them</a>. Now they are getting<a href="http://www.businessinsider.com/online-lending-is-cracking-2016-4"> more skeptical</a> as Lending Club- the largest lender by volume- is <a href="http://www.businessinsider.com/lending-club-ceo-stepping-down-2016-5">under fire</a> for its faulty loans, which sent its stock tanking. Investors are also worried about the valuation of online lending firms and how they will handle tougher regulatory standards.While their tech rivals are taking a beating, there's no better time for Wall Street establishment to up their game. <div id="categorypromo"></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/goldman-sachs-history-banks-finance-markets-ed-morris-2016-4">THE STORY OF GOLDMAN SACHS: From foot peddlers to a powerhouse</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="NxNWJ1MjE6u0RxXow5D79vSG1wtQyHQT" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The Wall Street establishment is fighting back

Facing intense scrutiny over the presence of bad accounts and troll armies on its platform globally including in India, <keyword id="6354616" type="UNKNOWN" weightage="20" keywordseo="Twitter">Twitter</keyword> has announced to establish a legal entity in <keyword id="6372909" type="LOCATION" weightage="20" keywordseo="turkey">Turkey</keyword> to continue operating there under the country's internet law that came into place last year. Under the new law, social media firms that have more than one million <keyword id="66720" type="PERSON" weightage="20" keywordseo="users">users</keyword> must store the users' data in the country. Twitter said in a statement that in a continuing effort to provide its service in Turkey, "we have decided to establish a legal entity". "We will continue to work to protect the public conversation in Turkey, empowering people to have access to that conversation, and advocating for our values," the micro-blogging platform added. India has also raised similar demands from Twitter to keep its platform sanitised for meaningful conversations and remove bad accounts. The Indian government last month announced new stringent guidelines for social media platforms along with code of ethics for over-the-top (<keyword id="1245953" type="COMPANY" weightage="20" keywordseo="OTT">OTT</keyword>) platforms and <keyword id="124571" type="ORGANIZATION" weightage="20" keywordseo="digital-media">digital media</keyword>. According to Union Electronics and IT Minister Ravi Shankar Prasad, social media platforms will be classified under two categories -- <keyword id="9859817" type="UNKNOWN" weightage="20" keywordseo="Social-Media-Intermediaries">social media intermediaries</keyword> and significant social media intermediaries -- with the latter being subject to greater obligations. The new Intermediary Liability Rules ask social media companies with over 5 million users in India to not only enable traceability of end-to-end encrypted messages but also establish local offices with senior officials to deal with law enforcement and user grievances. Twitter said, in reference to Turkey, that the company is "committed to protecting and defending the Open Internet, and as part of this work, have called for the establishment of regional and global standards for online services". "We believe that global and not fragmented frameworks protect online communities and their rights and ensure they can experience the Internet in the same way across the world," the Jack Dorsey-run company noted. The Indian Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules 2021 mandate that the intermediaries, including social media intermediaries must establish a grievance redressal mechanism for receiving resolving complaints from the users or victims. Intermediaries will have to appoint a Grievance Officer to deal with such complaints and share the name and contact details of such officer. "Grievance Officer shall acknowledge the complaint within 24 hours and resolve it within 15 days from its receipt," said an official statement. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9r-will-be-the-companys-next-affordable-smartphone-india-launch-confirmed-for-march-23/articleshow/81586104.cms">OnePlus 9R will be the company’s next affordable smartphone, India launch confirmed for March 23</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-review-of-moto-g10-power-mobile-phone-review-and-features-information/articleshow/81583548.cms">Moto G10 Power mobile review – big battery on a shoestring budget</a> <a href="https://www.businessinsider.in/stock-market/news/future-retail-shares-take-a-massive-hit-as-it-loses-the-case-against-amazon-in-delhi-high-court/articleshow/81583165.cms">Future Retail shares take a massive hit as it loses the case against Amazon in Delhi High Court</a>

Twitter announces that it will establish a legal entity in Turkey

Bengaluru, June 18 (IANS) Tata Consultancy Services (TCS) and IBM on Thursday announced to expand their global alliance with establishing an IBM Enterprise Cloud Architecture Unit to help customers on their digital transformation journey. The IBM Enterprise Cloud Architecture Unit would include technical professionals from both companies. TCS and IBM plan to co-develop solutions designed to help clients migrate workloads across applications, analytics, data estate and platforms, using IBM Cloud Paks, enterprise-ready containerised software solutions running on Red Hat OpenShift, the companies said in a statement. "We are investing in our alliance with IBM to co-create accelerators and other assets to further enhance the speed to market of our customers' modernization initiatives and drive their transformation to become cognitive-ready enterprises leveraging the new IBM public cloud ecosystem," explained Raman Venkatraman, Global Head, HiTech &amp; Professional Services Industry Unit, TCS. The new IBM Enterprise Cloud Architecture Unit is in addition to the existing IBM Digital Experience Centre that helps clients address complex business problems across industries. "This collaboration with TCS can help businesses accelerate their digital transformation by developing cloud-based technologies leveraging Red Hat OpenShift," said Bob Lord, Senior Vice President, Cognitive Applications, Blockchain and Ecosystems, IBM. --IANS na/

TCS joins IBM to establish Enterprise Cloud Architecture Unit

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Goran Tomasevic2011, convoy of troops loyal to Libyan leader Muammar Gaddafi under attack.</div></div></div>Some startups are out to find their place on Wall Street alongside the traditional players. And some are out to replace the establishment altogether. Big banks have long depended on antiquated and personnel-heavy businesses to do everything from marketing bond deals to striking currency transfers.Some <a href="http://www.businessinsider.com/20-startups-out-to-create-a-new-world-order-on-wall-street-2015-7">nimble start-ups</a> have sought to partner with Wall Street firms and make these processes more efficient. Others have sought to step in to the gaps left behind by traditional players as a result of regulation. And then there is a group of startups founded in the U.S. and elsewhere that are out to disrupt them altogether. Some are off to a great start. Business Insider spoke with dealmakers, venture capitalists and entrepreneurs to put together a list of the companies most likely to up-end Wall Street's traditional hierarchy. When some of these companies come to "occupy" lower Manhattan, they might not ever leave.

These startups are out to replace the Wall Street establishment

<div class="KonaFilter image-container"><div class="image">AP</div></div>On Friday, House Speaker John Boehner <a href="http://www.speaker.gov/press-release/boehner-establish-select-committee-benghazi">officially announced</a> the establishment a select committee dedicated to investigating the 2012 attack on the U.S. Consulate in Benghazi, Libya and subsequent government response.
"The House committees that have been investigating this attack have done extraordinary work, using their subpoena power, holding dozens of hearings, and conducting hundreds of interviews. Without this work we would not know much that we do today. But it's clear that questions remain, and the administration still does not respect the authority of Congress to provide proper oversight," Boehner said in a statement announcing the committee. "This dismissiveness and evasion requires us to elevate the investigation to a new level. I intend for this select committee to have robust authority, and I will expect it to work quickly to get answers for the American people and the families of the victims."
Boehner's decision comes on the heels of newly released emails showing White House officials coordinating with former U.N. Ambassador Susan Rice about talking points following the attacks. Rice was urged to attribute the attacks, which left four people dead, to an internet video about the Muslim Prophet Muhammad. Those talking points have long been a point of contention for House Republicans who have been investigating whether the State Department downplayed terrorist ties to the attacks. 
"The administration's withholding of documents - emails showing greater White House involvement in misleading the American people - is a flagrant violation of trust and undermines the basic principles of oversight upon which our system of government is built," Boehner said. "And it forces us to ask the question, what else about Benghazi is the Obama administration still hiding from the American people?"
The announcement of the committee also comes after House Oversight and Government Reform Committee Chairman Darrell Issa <a href="http://www.businessinsider.com/john-kerry-subpoenaed-on-benghazi-2014-5">issued a subpoena to Secretary of State John Kerry</a> Friday demanding him to testify at a public hearing about Benghazi May 21. Neither the State Department or the White House immediately responded to requests for comment from Business Insider.
"Four Americans died at the hands of terrorists nearly 20 months ago, and we are still missing answers, accountability, and justice. It's time that change," said Boehner.

Boehner Establishes Congressional Committee To Investigate Benghazi 

<ul class="summary-list"><li><keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword> introduced a $15 <keyword id="562632" type="UNKNOWN" weightage="60" keywordseo="minimum-wage">minimum wage</keyword> in 2018, and more large firms are starting to follow suit.</li><li>It now plans to bring in 75,000 new workers at a higher wage, making hiring harder for others.</li><li>The company has benchmarked a new minimum wage.</li></ul>In early May, as business was ramping back up after a year of pandemic disruption, the Miami-area chef Phil Bryant said his efforts to find enough workers to expand had run in to a problem: Amazon.Bryant <a href="https://www.washingtonpost.com/business/2021/05/08/restaurant-jobs-shortage-workers-miami/">told The Washington Post</a> that many of his colleagues had left the industry in the past year to take jobs with the e-commerce giant. They said things like, "If I can make $17 per hour at an <keyword id="1951969" type="PERSON" weightage="60" keywordseo="Amazon-warehouse">Amazon warehouse</keyword> but only $14 per hour as a line cook, a notoriously hot, stressful, intense job, why would I do that?"A few weeks later, Under Armour announced it would raise its minimum pay rate to $15 an hour. It also hinted at growing competition for workers from Amazon."The reality is from a competitive standpoint of hiring, we know that we compete not just within our industry for talent but also outside of the industry to places like Amazon," Stephanie Pugliese, the president of the Americas region at Under Armour, told Bloomberg.More than 10 major employers, from <a href="https://www.businessinsider.com/companies-raising-wages-workers-pandemic-hiring-chipotle-costco-target-walmart-2021-5">Target and Walmart to Under Armour</a>, have raised their hourly rate in the past year alone. The federal minimum wage, meanwhile, remains at $7.25.Call it the <a href="https://www.businessinsider.com/amazon-effect-on-retail-pricing-study-alberto-cavallo-explains-how-its-changed-2018-8">Amazon effect</a> come to <keyword id="6356975" type="UNKNOWN" weightage="60" keywordseo="wages">wages</keyword>. Amazon CEO Jeff Bezos raised the company's minimum wage to $15 an hour in 2018. "We listened to our critics, thought hard about what we wanted to do, and decided we wanted to lead," he said at the time. It hired 175,000 workers for warehouses across the country in 2020, a time when many other employers were cutting jobs and the unemployment rate spiked as high as 14.8%. The company topped <a href="https://www.washingtonpost.com/technology/2020/10/29/amazon-hiring-pandemic-holidays/">1 million employees</a> in October.Amazon is ramping things up in 2021 with a public lobbying effort for a higher federal minimum wage and, more recently, a new $17 wage for another <a href="https://www.businessinsider.com/amazon-hiring-75000-workers-1000-signing-bonuses-how-to-apply-2021-5">75,000 new hires in warehousing and logistics this year</a>. The 75,000 new employees represent just 1.5% of the hires expected to be made by US employers in 2021, according to projections from the Congressional Budget Office. Yet the elevated hourly rate has established a benchmark that's spreading. Amazon's wage hikes are expensive investments, with the company spending more than <a href="https://www.bloomberg.com/news/articles/2021-04-28/amazon-spending-1-billion-on-early-pay-bump-for-hourly-workers?sref=LspfQlRv">$1 billion in April on raises</a> for 500,000 hourly employees. But studies have already showed Amazon <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3793677">is lifting other companies to its level</a>. Economists at the University of California, Berkeley, and Brandeis University found that Amazon's 2018 <keyword id="99880" type="PERSON" weightage="60" keywordseo="Wage-hike">wage hike</keyword> drove average hourly wages 4.7% higher at other employers in the same area.Throughout the past three years, as Amazon navigated first a low-wage environment and then the uncertainty of the coronavirus recession, the tech giant has led on raising wages. Along the way, it set a new de facto minimum wage for America. <div type="image" title="Jeff Bezos" height="2000" width="2666" msid="82954088" hostid="261"></div><h2>American workers are learning their worth</h2>Salaries and wages <a href="https://www.businessinsider.com/labor-shortage-wage-growth-decline-decades-gdp-unemployment-hiring-salaries-2021-5">have been shrinking relative to economic output</a> for more than five decades. In that time, American workers have acclimated to weaker and weaker compensation, while companies have increasingly diverted profits to dividends and stock buybacks.Now, the pandemic and unprecedented stimulus are flipping the script. Businesses have reported difficulties in finding lower-wage workers as the <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> reopens, even as roughly 10 million Americans are still unemployed.That's in part because American workers are realizing their worth. The average lowest level of pay at which an unemployed person would take a job - known as a reservation wage - rose 26% year over year in March for Americans without college degrees, obliterating the 2% average rate of the prior six years. Converted to hourly pay, the reservation wage for such Americans rose to $29.56 from $23.45 in March 2020.The jump signals that low-income Americans are holding out for better pay before returning to the workforce. Amazon helped set the pace."We have to remember that decision-making within companies is not rational," Katie Bach, who has spent many years consulting with executives through her roles at McKinsey and the Good Jobs Institute, told Insider in an interview. "Companies are not profit-optimization machines. They are collections of individuals, and these individuals are susceptible to social pressure and scared of falling behind the zeitgeist.""I would say that for many, if not most, executives, it has become unimaginable to offer good jobs for today's low-wage roles," she added.<h2>Government hasn't moved the needle on a wage hike like Amazon has</h2>President Joe Biden, who campaigned on raising the federal minimum wage to $15 an hour, is on board with wage hikes for the average American worker. "You see some very large employers already starting to do that, and that's good for the country," Anita Dunn, a senior advisor to Biden, said in an interview with <a href="https://www.nytimes.com/2021/05/22/business/biden-economy.html?smid=tw-share">The New York Times</a>. "And that is certainly in line with what President Biden believes, which is that working Americans, middle-class Americans who haven't been the beneficiaries of trickle-down economics for the last 40 years, deserve a raise."To be sure, a handful of factors aside from Amazon are likely driving reservation wages higher. Some of them have to do with Biden's policies. Expanded unemployment benefits are now competitive with low-wage jobs across the country and even exceed the average wages in Montana, North Dakota, and Wyoming, <a href="https://www.businessinsider.com/unemployment-insurance-benefits-average-wages-labor-market-hiring-worker-shortage-2021-5">Insider calculated</a>. Virus fears could also still be countering the return to work, as half of the population is not yet vaccinated against COVID-19. And childcare expenses could be forcing parents to stay home instead of taking in-person jobs.And while $15 an hour compares favorably with hourly wages in retail and the service industry, it's less than the historical compensation in logistics. In New Jersey, warehouse workers were making an average of $24 an hour before Amazon opened a fulfillment center six years ago in Robbinsville, <a href="https://www.bloomberg.com/news/features/2020-12-17/amazon-amzn-job-pay-rate-leaves-some-warehouse-employees-homeless">according to Bloomberg</a>. Over the following years, the wage slipped to $17.50, according to Bureau of Labor Statistics data.And despite the pay hikes, many employees still see room for progress. Amazon drivers recently <a href="https://www.businessinsider.com/amazon-delivery-cameras-tech-track-drivers-bezos-2021-4">raised concerns</a> around surveillance cameras and <a href="https://www.businessinsider.com/amazon-drivers-say-peeing-in-bottles-common-despite-company-denials-2021-3">"inhumane" burnout</a>.A vote to unionize a warehouse in Bessemer, Alabama, failed earlier this year, with workers voting more than two to one against the effort. The decision is now being appealed. Workers at a warehouse in Staten Island, New York <a href="https://www.businessinsider.com/amazon-staten-island-union-drive-workers-alabama-2021-4">announced their own union drive</a> in April, saying employees "have had enough of the company's abusive and exploitative behavior."As important as compensation is, Bach said it was only part of what makes a good job. With Bezos' new goal of making Amazon "<a href="https://www.businessinsider.com/amazon-jeff-bezos-final-letter-to-shareholders-as-ceo-2021-4">Earth's Best Employer and Earth's Safest Place to Work</a>," the company appears headed in the right direction. If others continue to follow, it could yield real change throughout the US economy."If Amazon can focus on creating good jobs in the way that they have focused on creating the world's best customer experience, that would be revolutionary," she added.

Amazon is establishing a new minimum wage in America

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Thomson ReutersGOP frontrunner Donald Trump.</div></div></div>Members of the "Republican establishment" are finally grappling with the likelihood that their party is about to nominate Donald Trump. But they still don't understand how they brought this phenomenon on themselves.Here is my suggestion to them: If you want to understand how Trump invaded your party, think first about what Ben Carson's campaign, and other campaigns like it, say about your party.It has become routine for people who obviously never ought to be president, like Herman Cain, to enjoy success in the Republican primary polls for a time and conservative fame - and speaking fees and book sales - thereafter. Sarah Palin has made a similar career without ever technically running for president, raising funds instead for a political action committee that mostly spends money on consultants, <a href="http://www.mediaite.com/online/sarah-palin-reportedly-donates-only-5-5-of-pac-money-to-actual-candidates/" target="_blank">giving very little</a> to actual Republican campaigns.This time, it was Ben Carson who ran a "normal" scam campaign similar to the one people were expecting Trump to run. He raised a lot of money and enjoyed a brief honeymoon in the polls before collapsing under scrutiny, sold books, and made his campaign consultants wealthy, built a brand that can be monetized on the conservative speaking circuit, and compiled a fundraising list that can be rented out to other campaigns for years.<div class="KonaFilter image-container display-table"><div><div class="image">REUTERS/Mike BlakeBen Carson.</div></div></div>Often, when these candidates aren't running for president, they rent their mailing lists and their personas to peddlers of doomsday investment strategies and nonsense natural cures, as when Mike Huckabee <a href="http://www.politifact.com/punditfact/statements/2015/may/13/ron-fournier/mike-huckabee-and-diabetes-cure-he-endorsed-no-hea/">endorsed a cinnamon-based natural diabetes</a> cure. (Note: Cinnamon does not cure diabetes.) Republican insiders have tended to view these scam candidates with a mix of disdain and amusement, but not alarm.These candidates might be taking $50 donations from old ladies on fixed incomes who really should do something better with their money, but they are ultimately pretty harmless because they always lose.But what does it say about the Republican Party that its voters spent even a week or two seriously contemplating giving the presidency to Herman Cain? Republican insiders should have realized the appeal of scam campaigns was a symptom of a problem with the way Republican voters evaluate candidates - and that eventually, someone smarter than Herman Cain would come along and figure out how to run the scam long enough to win the nomination.<div class="KonaFilter image-container display-table"><div><div class="image">Justin Sullivan/Getty ImagesHerman Cain.</div></div></div>It's not normal for a political party to rent frontrunner status to cranks and charlatans for weeks at a time. Disastrous candidates are supposed to be blocked by validating institutions. Policy experts explain that their proposals do not add up. The media covers embarrassing incidents from their past and present. Party leaders warn that they will be embarrassing or incompetent or unelectable.The problem is that Republicans have purposefully torn down the validating institutions. They have convinced voters that the media cannot be trusted; they have gotten them used to ignoring inconvenient facts about policy; and they have abolished standards of discourse by allowing all complaints about offensiveness to be lumped into a box called "political correctness" and ignored.Republicans waged war on these institutions for a reason. Facts about policy can be inconvenient - a reality-based approach would find, for example, that tax cuts increase the deficit and carbon emissions cause climate change. Acknowledging the validity of complaints about racism could require some awkward conversations with racist and quasi-racist voters in the Republican coalition.Of course, we're now seeing the unintended consequence of the destruction of those institutions and the boundaries they impose around candidate acceptability: In doing so, Republicans created a hole that Donald Trump could fly his 757 through.Is the press reporting that some of Trump's businesses disserved customers and lost money? Well, you can't trust liberal media institutions like Fox News. Is his tax cut irresponsibly large? Don't worry, Trump will make us so rich it won't matter. Should we be concerned about his rants against Mexicans, either because they are offensive or because they will turn off voters? That sounds like something Obama would worry about.Trump is woefully incoherent and self-contradictory on policy, and often has terrible ideas when he does get specific, but that doesn't make him much worse than average in today's Republican party. It's hard for Republican insiders to call his $10 trillion tax-cut plan absurd when Marco Rubio wants a $7 trillion one.In addition to making it hard to attack Trump for policy unseriousness, the choice to decouple from reality has made Republican insiders less situationally aware. Who can forget 2012, when Republicans convinced themselves the polls were skewed and Mitt Romney was really leading all along? In this campaign, Republican insiders - and <a href="http://www.politico.com/story/2016/02/marco-rubio-south-carolina-219310" target="_blank">not a small number of reporters</a> - failed to panic about Trump early enough in part because they bought into a repeated idea about Rubio surges that were not borne out by the polling or the voting.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Thomson Reuters</div></div></div>The emerging conventional wisdom is that Rubio and other establishment candidates screwed up through tactical errors - failing to take Donald Trump seriously early on, not adjusting their messages to meet the mood for populism, not putting campaign resources in the right states. There is a lot of finger pointing about who should have been doing opposition research on Trump and who should have been running attack ads against him and when."Party leaders, donors and other supporters of Rubio portray a political operation that continues to come up short in its message, in its attention to the fundamentals of campaigning and in its use of a promising politician," <a href="https://www.washingtonpost.com/politics/bad-strategy-poorly-run-campaign-are-killing-marco-rubios-chances/2016/03/06/d9a77e54-e246-11e5-846c-10191d1fc4ec_story.html?postshare=2461457309688339&amp;tid=ss_tw" target="_blank">declares The Washington Post in a Rubio pre-mortem</a> - amusingly skipping over the possibility that Rubio is losing because people simply do not want to vote for him.It may well be true that Rubio's campaign is inept, but in a healthy political party, a savvy campaign would not have been necessary to defeat Trump. The whole reason Republican campaigns failed to take Trump seriously early on was that his unsuitability for the presidency was supposed to be self-evident: Eventually, one of the many outrageous things he said would do him in, without his opponents even having to argue against him.Republicans will not be able to protect their party from future Trumps without redeveloping institutions that impose accountability - institutions that make reality matter, and allow the self-evident to be evident. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/trump-vs-rubio-water-bottle-rally-2016-2">Trump and Rubio are trying to one-up each other with these incredible insults </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="5xYXNkMTE6RCsXHxIN1TffJXW30z1aRz" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The Republican 'establishment' made Donald Trump's nomination possible

<ul class="summary-list"><li><keyword id="6762469" type="UNKNOWN" weightage="60" keywordseo="TikTok">TikTok</keyword> is creating a fund of $200 million to support the app's popular US-based video creators. </li><li>"In a relatively short time, TikTok has grown to become a source of income and opportunity for creators and their families – and we couldn't be more encouraged by their success," TikTok General Manager Vanessa Pappas said in <a href="https://newsroom.tiktok.com/en-us/introducing-the-200-million-tiktok-creator-fund">a press release.</a></li><li>While popular figures on the app have certainly found many ways to make money from their <keyword id="6354632" type="UNKNOWN" weightage="60" keywordseo="social-media">social media</keyword> success, this will offer those accounts the chance to earn money directly from their posts. </li></ul>Short-form video app TikTok has established a $200 million fund to monetarily support US-based <keyword id="2893283" type="PERSON" weightage="60" keywordseo="content-creators">content creators</keyword>. Starting in August, TikTokers who are over 18 years old, meet an as yet unspecific follower count minimum, and post original content in accordance with the platform's community guidelines can apply to earn money from the TikTok Creator Fund. "In a relatively short time, TikTok has grown to become a source of income and opportunity for creators and their families – and we couldn't be more encouraged by their success," TikTok General Manager Vanessa Pappas said in <a href="https://newsroom.tiktok.com/en-us/introducing-the-200-million-tiktok-creator-fund">a press release on Thursday</a>. "As our community continues to flourish, we're committed to fostering even more ways for our creators to earn livelihoods by inspiring joy and creativity."The fund will join the platform's TikTok LIVE feature, which allows users with more than 1,000 followers to livestream and earn <a href="https://www.nytimes.com/2020/03/06/style/sleep-tiktok-live.html">virtual coins that can be traded for real cash</a>. Most popular TikTok users have found ways to make money from their millions of followers without help from the app. Top influencers such as Charli and Dixie D'Amelio, Addison Rae Easterling, Josh Richards, and other TikTok celebrities have used a mix of sponsored posts, commercials, brand partnerships, and web series to bring in an income using their TikTok fame. But with the new fund, users will be able to earn a living directly from the company behind their notoriety.Details of how the platform is funding the initiative, whether it's via advertising revenue (<a href="https://www.businessinsider.com/youtube-creator-with-200k-subscribers-average-salary-earnings-2020-7">like YouTube's structure</a>) or through other sources, have not been released. It's also unclear how funds will be allocated. TikTok, which is owned by the Chinese company <keyword id="3749909" type="PERSON" weightage="60" keywordseo="Bytedance">Bytedance</keyword>, released the news after weeks of <a href="https://www.businessinsider.com/tiktok-banned-by-countries-organizations-companies-list-2020-7">speculation over the app's future</a>, as <a href="https://www.insider.com/tiktok-ban-united-states-creators-worry-influencers-2020-7">President Donald Trump's administration has called for the app to be banned in the US</a> over <a href="https://www.businessinsider.com/tiktok-explainer-privacy-facebook-google-2020-7">security concerns</a>. The US Navy, Air Force, Coast Guard, and Marine Corps have all already banned the app from their devices, and the US Army has urged members not to use the app. <ul class="read-more-links"><li>Read more:</li><li><a href="https://www.businessinsider.com/tiktok-app-online-website-video-sharing-2019-7">Inside the rise of TikTok, the viral video-sharing app that US officials are threatening to ban due to its ties to China</a></li><li><a href="https://www.businessinsider.com/tiktok-bytedance-us-investors-consider-buying-majority-stake-report-2020-7">Some US investors of Bytedance, including Sequoia Capital, are reportedly considering buying a majority stake in TikTok</a></li><li><a href="https://www.businessinsider.com/tiktok-explainer-privacy-facebook-google-2020-7">Trump might ban TikTok — here's what experts who pored through its code and privacy policies say about its security</a></li><li><a href="https://www.businessinsider.com/tiktok-banned-by-countries-organizations-companies-list-2020-7">Trump is considering banning Chinese social media app TikTok. See the full list of countries, companies, and organizations that have already banned it.</a></li></ul>

TikTok establishes $200 million US-based fund to support content creators

In a significant development, the <keyword id="53289" type="General" weightage="20" keywordseo="Chandrayaan-2" source="Orion">Chandrayaan-2</keyword> orbiter which was already fixed around the <keyword id="42440" type="General" weightage="100" keywordseo="moon" source="Orion">moon</keyword> established a two-way connection with the lander module of <keyword id="8011274" type="General" weightage="20" keywordseo="Chandrayaan-3" source="Orion">Chandrayaan-3</keyword> on Monday. "'Welcome, buddy!' Ch-2 orbiter formally welcomed Ch-3 LM (lander module). Two-way communication between the two is established. MOX (Mission Operations Complex) has now more routes to reach the LM," ISRO posted on X, formerly Twitter. Chandrayaan-3 is set to land on the moon on August 23, 2023, around 18:04 IST. Live actions will be available on the ISRO website, its YouTube channel, Facebook, and public broadcaster DD National TV from 17:27 IST on Aug 23, 2023. Ahead of the much-awaited soft landing of Chandrayaan-3 on the south pole of the Moon, former director of the <keyword id="116095" type="General" weightage="50" keywordseo="indian-space-research-organisation" source="Orion">Indian Space Research Organisation</keyword> (ISRO) and in-charge of the previous lunar mission 'Chandrayaan-2', K Sivan on Monday said that the mission will be a "grand success". "It's a very anxious moment...I'm sure that this time it will be a grand success," Sivan said while speaking to ANI. "We have our own system and we will be establishing a soft landing without any problem. But it is a complex process," he said while responding to a question asked whether there would be any impact after the failure of Russia's Luna-25 mission. Russia's moon mission failed after its Luna-25 spacecraft spun out of control and smashed into the moon on Sunday. He said that corrective measures have been taken after going through data generated by the Chandrayaan-2 mission. When asked if those additional systems too were indigenous, Sivan said, "Everything is indigenous." Earlier today, ISRO released images of the lunar far side area captured by the Lander Hazard Detection and Avoidance Camera (LHDAC). This camera assists in locating a safe landing area -- without boulders or deep trenches -- during the descent. Notably, the 'Vikram' lander module of the spacecraft successfully separated from the propulsion module recently, and subsequently underwent crucial deboosting manoeuvres and descended to a slightly lower orbit. The Chandrayaan-3 mission's lander is named after <keyword id="29151" type="General" weightage="50" keywordseo="vikram-sarabhai" source="Orion">Vikram Sarabhai</keyword> (1919-1971), who is widely regarded as the father of the Indian space programme. A GSLV Mark 3 (LVM 3) heavy-lift launch vehicle was used for the launch of the spacecraft that was placed in the lunar orbit on August 5 and since then it has been through a series of orbital manoeuvres been lowered closer to the moon's surface. It has been a month and seven days since the Indian Space Research Organisation launched the Chandrayaan-3 mission on July 14. The spacecraft was launched from the <keyword id="6356967" type="General" weightage="50" keywordseo="satish-dhawan-space-centre" source="Orion">Satish Dhawan Space Centre</keyword> in Andhra Pradesh's Sriharikota. The stated objectives of Chandrayaan-3, <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s third lunar mission, are safe and soft landing, rover roving on the moon's surface, and in-situ scientific experiments. The approved cost of Chandrayaan-3 is Rs 250 crores (excluding launch vehicle cost). Chandrayaan-3's development phase commenced in January 2020 with the launch planned sometime in 2021. However, the Covid-19 pandemic brought an unforeseen delay to the mission's progress. The key scientific outcomes from Chandrayaan-2 include the first-ever global map for lunar sodium, enhancing knowledge on crater size distribution, unambiguous detection of lunar surface water ice with IIRS instrument and more. Moon serves as a repository of the Earth's past and a successful lunar mission by India will help enhance life on Earth while also enabling it to explore the rest of the solar system and beyond. (ANI) SEE ALSO:<a href="https://www.businessinsider.in/finance/webstories/tax-filers-earning-more-than-1-crore-increase-by-nearly-50-percent/slidelist/102895925.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/webstories/tax-filers-earning-more-than-1-crore-increase-by-nearly-50-percent/slidelist/102895925.cms" target="_blank">Crorepatis rising: Here’s how the income of Indian tax filers has changed in one year</a> <a href="https://www.businessinsider.in/personal-finance/news/how-to-find-unclaimed-bank-deposits-using-udgam-portal/articleshow/102830161.cms">Have unclaimed bank deposits? Here’s how to find it using UDGAM portal</a> <a href="https://www.businessinsider.in/tech/mobile/news/india-crosses-the-2-billion-mark-in-its-journey-to-become-a-smartphone-manufacturing-powerhouse/articleshow/102760757.cms">India crosses the 2 billion mark in its journey to become a smartphone manufacturing powerhouse</a>

"Welcome, buddy!" Chandrayaan-2 orbiter greets Chandrayaan-3 lander as they establish communication

<ul><li>The IT Minister announced the government’s plans of establishing the largest National Data Centre in <keyword id="6355556" type="LOCATION" weightage="20" keywordseo="Bhopal">Bhopal</keyword>. </li><li>The rural BPO promotion scheme will be increased to 1 lakh seats from the current 48,000. </li><li>Other schemes like Aadhar, eSign, BHIM App and DigiLocker are also expected to be expanded.</li></ul>On Monday, the IT Minister Ravi Shankar Prasad <a href="https://economictimes.indiatimes.com/tech/ites/government-plans-largest-national-data-centre-in-bhopal/articleshow/64636749.cms">got on a soapbox</a> in front of some journalists on the completion of four years of the present government. Following the inauguration of a National Data Centre (NDC) in Bhubaneswar this May, Prasad announced the government’s plans of establishing the largest National Data Centre in Bhopal. Prasad also announced that the NDC will have a capacity of five lakh servers. Throwing in some more announcements at the occasion, the minister mentioned that the rural BPO promotion scheme will be increased to 1 lakh seats from the current 48,000. So, what will the National Data Centre do? A National Data Centre’s primary aim is to provide ‘the citizens with online services and the e-Governance projects launched by the government’, according to the<a href="https://datacentres.nic.in/"> official website</a> of <keyword id="6373306" type="COMPANY" weightage="20" keywordseo="national-informatics-centre">National Informatics Centre</keyword> (NIC), the organisation under the government’s IT Department that is responsible for the establishment of the NDCs. As <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> becomes the largest data consumer, there is a pressing need to increase data storage for apps and websites of these services. And this is exactly what the new NDC will cater to. However, this is not the first in the country, there are four other NDCs in Delhi, Bhubaneswar, Hyderabad and Pune; but this is expected to be the largest. NIC has announced that the Madhya Pradesh Government has already made the land available for the project and the centre should come up within the next two years. Rural BPO promotion scheme Prasad, who wants to make India the ‘hub for BPO movement’, said that the expansion of the rural BPO promotion scheme would bring about several benefits. The scheme is aimed at increasing employment in India, both directly and indirectly - employment related to creating the BPOs and working for them once they are created. An added perk would be finding this sort of employment near your home, in small towns. Currently, people from small towns have to relocate to bigger cities to work in these BPOs. With this being the election year, the government is also making sure it makes the right statements about policies that have already been implemented. In his speech, Prasad mentioned that Aadhar, world’s largest biometric identification with 121 crore unique IDs, is already benefiting the public. According to the minister, Aadhar has helped in the direct benefit transfer of <a href="https://www.business-standard.com/article/economy-policy/india-s-largest-national-data-centre-to-come-up-in-bhopal-118061900020_1.html">₹4 trillion</a> to the poor. Furthermore, ₹900 billion have been saved by removing the fictitious beneficiaries from this list, said Prasad. The government is now aiming at making the Aadhar more “robust” along with the expansion of other digital services like BHIM App, DigiLocker and <a href="https://www.thehindubusinessline.com/info-tech/govt-plans-largest-data-centre-in-bhopal/article24195005.ece">eSign</a>.

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