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<keyword id="19934680" type="General" weightage="100" keywordseo="Amul" source="keywords" meta.keywordsubtype="org" meta.entityname="Amul" meta.hostid="261" meta.entityid="Amul">Amul</keyword>, India's iconic <keyword id="23447066" type="General" weightage="20" keywordseo="dairy-cooperative" source="keywords">dairy cooperative</keyword>, is looking forward to enter the <keyword id="20845418" type="General" weightage="20" keywordseo="European-market" source="keywords">European market</keyword> after the successful launch of its milk in the US, according to <keyword id="20457579" type="General" weightage="20" keywordseo="Jayen-Mehta" source="keywords">Jayen Mehta</keyword>, Managing Director of Amul and the <keyword id="22666811" type="General" weightage="20" keywordseo="Gujarat-Co-operative-Milk-Marketing-Federation" source="keywords">Gujarat Co-operative Milk Marketing Federation</keyword> Ltd (GCMMF). As per a PTI report, Mehta made the announcement while delivering the 11th <keyword id="23447068" type="General" weightage="20" keywordseo="Dr-Verghese-Kurien" source="keywords">Dr. Verghese Kurien</keyword> Memorial Oration at XLRI, Jamshedpur, saying that this move would mark a historic milestone for the brand. Mehta framed dairy as more than a business, describing it as "a lifeline for rural India," a statement that reflects the deep cultural and economic significance of milk in the country. He credited Amul’s success to its focus on offering protein-rich, organic, and chemical-free products that consumers trust, while continually expanding its production capacity and infrastructure. Amul’s journey is rooted in the cooperative model pioneered by Dr. Verghese Kurien, often referred to as the "Milkman of India," whose vision turned India from a milk-deficient country into the world’s largest <keyword id="23447069" type="General" weightage="20" keywordseo="milk-producer" source="keywords">milk producer</keyword>. Mehta added, "If India could offer a gift to the world, it would be the cooperative working system-a gift Dr Kurien gave us. His belief in cooperation has sparked a new revolution in India." Amul’s daily collection of 310 lakh litres of milk, processed across 107 dairy plants in India, has turned it into a global powerhouse, with over 50 products and an annual sale of 22 billion packs. With a turnover of ₹80,000 crore, the brand is now ranked as the strongest dairy and food brand globally, owned by 3.6 million farmers. Amul’s entry into the European market would solidify India’s growing influence in the <keyword id="23447067" type="General" weightage="20" keywordseo="global-dairy-sector" source="keywords">global dairy sector</keyword>, as well as honour the cooperative system that has powered Amul’s success. Nirmala Kurien, daughter of Dr. Verghese Kurien, echoed these sentiments, highlighting her father’s vision that transformed India from a milk-deficient nation to a self-sufficient one. India’s deep connection to Amul goes beyond mere consumption. The cooperative’s rise is tied to the country’s rural development and empowerment of farmers, making it a symbol of economic self-reliance. As Amul prepares to conquer new markets, it carries with it the legacy of Dr. Kurien, whose commitment to making a difference continues to inspire millions. (With PTI inputs)

Amul thinking to enter European market after US success, MD Jayen Mehta calls it the lifeline for rural India

<ul class="summary-list"><li>Replenishment ships are essential to resupplying carrier groups at sea with fuel, food and bombs.</li><li>The US is overhauling its aging ships while China has built a dozen.</li></ul>Involved in nearly every crisis since World War II, aircraft carriers have been called upon to assure allies, deter enemies, and strike directly at hostile targets.Yet for all their importance, their missions would be impossible if not for the US Navy's unsung workhorses: replenishment ships.Replenishment ships loaded with food, fuel and bombs are the reason US carrier strike groups can stay at sea for months at a time. This capability is increasingly vital for the US Navy's chief competitor, China. With the <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-shrinking-china-biggest-fleet-shipbuilding-taiwan-2024-4">largest navy in the world</a>, its lack of overseas military bases only makes the need for this capability greater.But replenishment ships also form the weakest link in the chain of <a target="_blank" class="" href="https://www.businessinsider.com/us-vs-chinese-navy-aircraft-carriers-2024-5">American</a> and <a target="_blank" class="" href="https://www.businessinsider.com/chinas-new-aircraft-carrier-more-to-learn-to-match-us-2024-5">Chinese carrier</a> groups. Often unarmed and full of explosive cargo, they are prime targets for any hostile force.<div type="image" title="USNS Supply is one of the two largest combat logistics ships in the US Navy's Military Sealift Command." height="1500" width="2100" msid="115143523" hostid="261" sizebytes="299192"></div><h2 id="3d01aa20-7b10-4f31-9c1e-4e4a0f3254e6">US replenishment ships</h2>The US Navy's Military Sealift Command's Combat Logistics Force (CLF) operates 17 fleet replenishment oilers, 14 dry cargo/ammunition ships, and two fast combat support ships.These ships are built to deliver wet cargo (mainly aviation and diesel fuel) and dry cargo like ordnance, food, and spare parts. Though US carriers are nuclear-powered, their escort ships still run on diesel, and their <a target="_blank" class="" href="https://www.businessinsider.com/newest-us-navy-supercarrier-underway-with-all-airpower-first-time-2023-3">air wings</a> require aviation fuel.The most capable replenishment vessels in the CLF are the fast combat support ships of the <a target="_blank" href="https://www.navy.mil/Resources/Fact-Files/Display-FactFiles/Article/2174658/">Supply-class</a>, the largest combat logistics ships in the MSC fleet.Equipped with four cargo booms for loading cargo, they are capable of carrying 156,000 barrels of fuel, 1,800 tons of ordnance, 400 tons of refrigerated store, and 250 tons of other dry cargo.<div type="image" title="Fleet replenishment oiler Henry J. Kaiser refuels a US warship via two hose lines suspended on a tensioned wire between the ships." height="1331" width="2000" msid="115143326" hostid="261" sizebytes="123714"></div>These ships have two primary means to transfer cargo: sling loads carried by helicopter or tensioned lines between the ships. They have five fuel-at-sea (FAS) stations that utilize long flexible refueling hoses that travel on the tensioned wire, and six replenishment at sea (RAS) stations that move supplies via the horizontal wire pulley systems on the tensioned line. In addition, the Supply-class ships have a helicopter hangar and deck with space for two helicopters at the stern, enabling helicopter transfer known as vertical replenishment, or VERTREP.The FAS/RAS stations, combined with aerial resupply, enable Supply-class vessels to replenish up to four ships at once. Only two Supply-class ships, the USNS Supply and USNS Arctic, remain in service.The backbone of the CLF's refueling fleet are the <a target="_blank" href="https://www.msc.usff.navy.mil/Ships/Ship-Inventory/Fleet-Replenishment-Oiler/">Henry J. Kaiser-class</a> fleet oilers. Built between 1984 and 1996, the ships are 677 feet long, displace around 41,000 tons, and can carry up to 159,000 barrels of fuel.The Kaisers can refuel two warships simultaneously. They lack a helicopter hangar, but have a deck at the stern where helicopters from nearby ships can sling-load pallets.Fourteen Kaisers are in active service with the MSC.Though effective for refueling, the Kaiser-class has limited space for dry cargo — only enough for 586 pallets, including frozen and chilled food. The Navy relies on 14 Lewis &amp; Clark-class dry cargo/ammunition ships to fill in the gap.The Lewis &amp; Clark-class ships can carry a massive 8,391 tons of dry cargo, including 1,716 tons of refrigerated stores. They also have tanks capable of carrying approximately 25,000 barrels of fuel.<div type="image" title="An MH-60S Sea Hawk helicopter delivers supplies to the USS Dwight D. Eisenhower from the fast combat support ship USNS Arctic." height="1331" width="2000" msid="115143525" hostid="261" sizebytes="207016"></div>The Kaiser-class replacement effort kicked off in earnest in 2016, when the Navy signed a design and construction contract with General Dynamics, a leading defense contractor and shipbuilder that reported $11.7 billion in revenue in its third-quarter earnings.Five years later, the lead ship of the new John Lewis-class was christened.The 746-foot-long, double-hull ships can carry 162,000 barrels of fuel, 6,675 tons of dry cargo, and 1,716 tons of refrigerated stores. A helicopter deck at the stern also enables VERTREP.Three John Lewis-class oilers — USNS John Lewis, USNS Harvey Milk, and USNS Earl Warren — are in service, and a fourth, USNS Robert F. Kennedy, is set to begin sea trials soon. Another was recently launched and two more are under construction.The class will soon become the main fleet oiler. An order for six ships was made in 2018, with options for three more exercised in 2022 and 2023. In September, the Navy signed a $6.7 billion contract for eight more John Lewis-class oilers with General Dynamics's National Steel and Shipbuilding Company. The Navy hopes to have 20 of the vessels in total, supplemented by 13 yet-to-be-designed light replenishment oilers.<div type="image" title="The Hulunhu fast combat support ship is part of a new class that was built to service China's carrier strike groups." height="1060" width="2000" msid="115143528" hostid="261" sizebytes="205312"></div><h2 id="02ad4c6d-8c78-4ca1-ab92-1b32a6c75d25">China's replenishment ships</h2>The US Navy has over <a target="_blank" href="https://www.usni.org/magazines/naval-history-magazine/2018/june/century-replenishment-sea">100 years of experience</a> building and operating replenishment ships. China's experience began in the 1980s.Its first replenishment ships could only carry about 10,500 tons of fuel. As China's fleet grew in the 1990s, it searched for a stopgap measure and found it in the Qinghaihu, an oiler built in Ukraine that was intended for the Soviet Navy.Ultimately, the Chinese opted to pursue a new design for its next replenishment ships: the <a target="_blank" href="https://www.globalsecurity.org/military/world/china/qiandaohu.htm">Type 903-class</a> oiler.These ships can carry around 11,000 tons of cargo, including some 10,000 tons of fuel. Like the Qinghaihu, the Type 903s have a helicopter deck and helipad.Nine ships were built between 2002 and 2018, all of which are in service.The Type 903s form the backbone of China's replenishment fleet, but they are not the most capable. That title goes to the PLAN's Type 901-class fast combat support ships.The ships, which NATO designated the "Fuyu-class," are 787 feet long, displace 45,000 tons, have a helicopter deck and hangars, and are equipped with 5 FAS and 2 RAS stations. They are primarily meant to service China's carrier groups and can keep up as they are propelled by four gas turbine engines.The size, mission, and speed of the ships are comparable to the US Navy's Supply-class. Two Type 901s have been built: the Hulunhu and the Chaganhu.<div type="image" title="Replenishment ships like the Lewis and Clark-class dry cargo and ammunition ships are essential to carrier operations but are highly vulnerable to attack." height="1333" width="2000" msid="115143527" hostid="261" sizebytes="344510"></div><h2 id="e54916fd-474c-416c-9f6b-46ac068eead5">'Weakest link'</h2>The important role these ships play is hard to overstate.Between October 2023 and May 2024 in support of <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-weapons-expenditure-cost-middle-east-conflicts-2024-10">Red Sea operations</a>, for instance, USS Supply <a target="_blank" href="https://gcaptain.com/usns-supply-crew-honored-for-exceptional-service-in-red-sea-operations/">replenished</a> US and allied ships 143 times, transferring over 87 million gallons of fuel and 14,928 pallets of supplies in the process.The Henry J. Kaiser- and Lewis and Clark-class vessels also enabled the continuous presence of <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-carrier-strike-groups-significant-combat-power-middle-east-2024-8">two carriers in the Middle East</a>.The PLAN's oilers, meanwhile, have extended the reach of its warships. <a target="_blank" href="https://digital-commons.usnwc.edu/cgi/viewcontent.cgi?article=1007&amp;context=cmsi-notes">Its contributions to international anti-piracy efforts in the Gulf of Aden</a> have, since 2008, almost always been made up of two surface combatants and one oiler, enabling each task force to stay on station for 4 months.The new Type 901s are already proving their worth. Last year, the Type 901-class oiler Chaganhu supported the Shandong carrier group during a series of exercises near Taiwan, Guam, and in the South China Sea. This included 620 aircraft sorties in just 18 days, <a target="_blank" href="https://news.usni.org/2023/07/14/japan-releases-fighter-scramble-data-against-chinese-aircraft">according</a> to the Japanese Ministry of Defense.In all, <a target="_blank" class="" href="https://www.businessinsider.com/chinas-growing-navy-conducts-first-dual-aircraft-carrier-drills-2024-10">Shandong</a> spent about as much time at sea as any US carrier in the western Pacific that year, due in no small part to its replenishment ships.Yet replenishment ships are also the weakest link in each country's carrier groups. The most obvious reason is that they are almost completely unarmed, making them defenseless. Their defenses are instead provided by escort ships.They also face additional challenges unique to each country. The US, for instance, faces a manpower shortage, limited <a target="_blank" class="" href="https://www.businessinsider.com/new-us-navy-warships-delayed-photos-2024-4">shipyard capacity</a>, and an aging fleet with ships approaching the end of their expected service lives.Military Sealift Command employs mostly civilian merchant mariners, but now has a recruiting issue of its own.The manpower issue has been serious enough for MSC to <a target="_blank" href="https://news.usni.org/2024/08/22/navy-could-sideline-17-support-ships-due-to-manpower-issues">propose sidelining 17 of its ships</a> — including two Lewis &amp; Clark-class ammo ships and one Kaiser-class oiler — so their crews could be sent to serve on other vessels.The Kaiser-class itself is aging quickly. Four of the active oilers are already past their 35-year service lives, while one, USNS Pecos, departed for deactivation last month.Ships can have their service lives extended, but American shipyards appear unable to <a target="_blank" href="https://thehill.com/opinion/national-security/4624326-almost-all-navy-shipbuilding-is-hopelessly-behind-schedule-as-war-looms/">keep up with demand</a> for new ships and maintenance for active ones, with some estimating that the Navy is as many as 20 years behind in needed maintenance.The backlog may be why only one Kaiser-class oiler, <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-fired-captain-didnt-fix-steering-problem-near-miss-2024-9">USNS Big Horn</a>, was present in the Middle East during tensions between Israel and Iran in late September. This almost caused major problems when the ship accidentally <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-fuel-ship-damaged-incident-middle-east-2024-9">ran aground</a> and could no longer operate, forcing the Navy to rely on two Lewis &amp; Clark-class ammunition ships for refueling duties despite their smaller capability. The incident exposed <a target="_blank" href="https://responsiblestatecraft.org/refueling-navy-middle-east/">just how fragile UNREP networks can be</a>.China, meanwhile, has just 12 oilers despite having the world's largest navy, which puts a considerable strain on those ships. Additionally, its logistical network is hampered by a lack of overseas naval bases, which can serve as refueling and resupply stations for the oilers.China has the <a target="_blank" class="" href="https://www.businessinsider.com/chinas-shipbuilding-power-players-making-warships-at-a-rapid-pace-2024-9">largest shipbuilding industry</a> in the world, however, enabling it to quickly build more oilers and convert some of its merchant ships into replenishment ships. It has also been attempting to expand its "String of Pearls"— Chinese-controlled ports in countries across the Indian and Pacific oceans that could support military ships.Benjamin Brimelow is a freelance journalist covering international military and defense issues. He holds a master's degree in Global Affairs with a concentration in international security from the Fletcher School of Law and Diplomacy. His work has appeared in Business Insider and the Modern War Institute at West Point.

US vs. Chinese replenishment ships: The workhorses that keep aircraft carriers operating

<keyword id="21282723" type="General" weightage="100" keywordseo="satellite-communications" source="keywords">Satellite communications</keyword> is a "magic bullet" to cover dark unconnected areas, <keyword id="22764352" type="General" weightage="20" keywordseo="Bharti-Chairman" source="keywords">Bharti Chairman</keyword> <keyword id="20104229" type="General" weightage="20" keywordseo="Sunil-Mittal" source="keywords">Sunil Mittal</keyword> said on Monday, adding that players now have a great new opportunity to leverage satellite connectivity to cover <keyword id="20534956" type="General" weightage="20" keywordseo="remote-areas" source="keywords">remote areas</keyword> that have so far been left out. Speaking at the <keyword id="23624328" type="General" weightage="20" keywordseo="NDTV-World-Summit" source="keywords">NDTV World Summit</keyword>, Mittal said that nearly two billion people in the world are still not connected to the internet, and in the Indian context too there are areas -- large swathes of desert, forests, coastlines -- where neither mobile networks, not fibre is feasible. "For those areas you need satellite communications, and that, to my mind, offers now a great source of new opportunities for us, mobile operators, or <keyword id="20055601" type="General" weightage="20" keywordseo="telecom-operators" source="keywords">telecom operators</keyword>, to put that in a mix and start to cover areas which are still left behind," Mittal said. About five per cent of India's population sans <keyword id="19936241" type="General" weightage="20" keywordseo="internet-connectivity" source="keywords">internet connectivity</keyword> lives in 25 per cent of the area, he said, emphasising that satellite is the only solution for them. "India provides a very high quality signal to 95 per cent of its population, but there are still five per cent of people who do not get internet in the country, and they live in 25 per cent of the area of the country. So it's a very large area with a very small population, the only way to cover that is satellite," Mittal said. Mittal said that two ground stations in Mehsana (Gujarat) and in Pondicherry are in a state of preparedness and ready to start services. "The day government gives us the permission, there will not be a single square inch of this country which will not have a radio coverage. So you just need to raise your hand and be connected," he said. Mittal said he is of the view that satellite is truly a "magic bullet" to cover the dark areas, and noted that about 2 billion people in the world are still not connected to internet, including in advanced countries like the US. The telecom stalwart's comments assume significance as billionaire Elon Musk and Indian tycoons Mukesh Ambani and Mittal are locked in a standoff over satellite spectrum, and nuances of its allocation in India. While Ambani's <keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="268" meta.entityid="Reliance Jio">Reliance Jio</keyword> has been vocal about the need to allocate such spectrum through an auction to give a level-playing field to legacy operators who buy airwaves and set up infrastructure like telecom towers, Mittal during India Mobile Congress held last week articulated the need for satellite companies harbouring any urban ambitions to buy spectrum as telecom companies do. Musk-led <keyword id="20034452" type="General" weightage="20" keywordseo="Starlink" source="keywords" meta.keywordsubtype="org" meta.entityname="Starlink" meta.hostid="268" meta.entityid="Starlink">Starlink</keyword> is demanding administrative allotment of licences in line with the global trend as it looks to tap into the world's fastest-growing mobile telephony and internet market. This has found some backing in Telecom Minister Jyotiraditya Scindia, who said recently that such airwaves will be given out through administrative allocation at a cost, but not auctioned.

Satellite 'magic bullet' to connect the unconnected; offers opportunity to cover areas left out: Sunil Mittal

Climate Action 15: 2024's top global innovators powering green solutions

<keyword id="19915275" type="General" weightage="100" keywordseo="Boeing" source="keywords" meta.keywordsubtype="org" meta.entityname="Boeing" meta.hostid="261" meta.entityid="Boeing">Boeing</keyword> is set to cut 17,000 jobs, or 10% of its global workforce, in response to a strike by 33,000 U.S. West Coast workers that has stalled production of its major jets, including the 737 MAX and 777 models. The ongoing strike, which has persisted for over a month, is expected to result in $5 billion in third-quarter losses, the company revealed. CEO Kelly Ortberg announced the job cuts in a message to employees as part of a broader restructuring effort aimed at aligning Boeing’s operations with its financial challenges. "We reset our workforce levels to align with our financial reality and to a more focused set of priorities. Over the coming months, we are planning to reduce the size of our total workforce by roughly 10%. These reductions will include executives, managers and employees," Ortberg's message read as per a Reuters report. The planemaker, already facing hurdles from regulatory issues and a strike-induced production halt, has also pushed back the first deliveries of its 777X jet by a year, now expected in 2026. In addition to downsizing, Boeing is considering measures to raise billions of dollars in funding, including selling stock and equity-like securities, to safeguard its financial standing. Analysts estimate the company may need to secure $10 to $15 billion to maintain its credit ratings, which are perilously close to junk status. Boeing has taken legal steps against the International Association of Machinists and Aerospace Workers (IAM), accusing the union of failing to negotiate in good faith. However, IAM has criticised Boeing’s claims as an attempt to deflect from its refusal to return to the bargaining table. The strikes are costing Boeing roughly $1 billion a month, and analysts believe resolving the labour dispute is critical for the company’s future. With significant financial losses looming and a court case involving fraud charges ahead, Boeing’s challenges continue to mount as it faces increasing pressure from both regulatory bodies and its workforce. (With Reuters inputs)

Boeing announces global job cuts in the middle of workers’ strike, 17,000 people could lose their jobs

<ul class="summary-list"><li>The USS Washington submarine was awarded the Presidential Unit Citation after a series of secret intel operations.</li><li>The military said the "demanding" missions were vital to national security and obtained "sensitive and unique" intel.</li></ul>A US attack submarine crew was honored with a top award after running "demanding" secret intelligence-gathering missions.The USS Washington, a <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-submarines-17-billion-over-budget-in-crisis-lawmaker-2024-9">Virginia-class fast-attack submarine</a>, received the award earlier this year for "outstanding performance in action" during a recent six-month deployment to the Sixth Fleet area of operations, which covers roughly 20 million square nautical miles of ocean around Russia, Europe, and Africa.Last week, Submarine Forces Atlantic announced that the Washington's crew was awarded the Presidential Unit Citation in July. The prestigious award was presented to the crew by Capt. Timothy Poe on behalf of US President Joe Biden.The crew's recent deployment involved "three demanding missions vital to national security that resulted in obtaining sensitive and unique intelligence information," the Navy said.The Washington, also known as the Blackfish, additionally broke the record for most days on station for east coast deployments and sailed with the most women ever deployed on a <a target="_blank" class="" href="https://www.businessinsider.com/us-senators-express-concern-over-low-attack-submarine-procurement-plan-2024-3">fast-attack submarine</a>.<div type="image" title="The Virginia-class fast-attack submarine USS Indiana surfaces in the Beaufort Sea" height="667" width="1000" msid="114556142" hostid="261" sizebytes="7482"></div>The PUC is the highest unit award in the Department of Defense and is given to "any US military unit that has distinguished itself by outstanding performance and heroism in action against enemy forces," the Navy explained.It is unclear what the target of the Washington's intelligence-gathering missions was."The award of the Presidential Unit Citation to the USS Washington is a profound honor, signifying the crew's exceptional dedication and strategic impact," said Vice Adm. Rob Gaucher, the Submarine Forces commander.Gaucher added that the submarine's work "in challenging, high risk environments completing vital national level missions demonstrates the key role our submarines play in ensuring maritime security and global stability."<a target="_blank" class="" href="https://www.businessinsider.com/navy-seals-dropped-in-on-a-submarine-in-the-pacific-2024-8">Fast-attack submarines</a>, such as the Washington, are a pillar of the Navy's warfare, surveillance, and reconnaissance capabilities. The Washington is a Block III Virginia-class vessel and was commissioned in 2017. It was built by Huntington Ingalls Industries in partnership with General Dynamics' Electric Boat.

US attack submarine crew picks up top award for 'demanding' spy operations

<ul class="summary-list"><li>A tip from the SEC led federal prosecutors to set up a fake company to bust crypto market manipulators.</li><li>The firms are charged with "wash trading," artificially increasing trade volume to boost token prices.</li></ul>Federal prosecutors are getting creative in order to catch bad actors in the cryptocurrency market. After receiving a tip from the Securities and Exchange Commission, federal prosecutors set up a fake crypto company to investigate a firm based in Boston.The sting operation that ensued busted four firms, seized over $25 million in crypto, and deactivated about 60 different cryptocurrencies, prosecutors in Boston said in a press release on Thursday.The firms and more than a dozen individuals were charged with market manipulation to boost token values, as well as fraud and conspiracy to commit fraud. The charges are the first in the crypto industry related to "wash trading."The practice involves moving assets back and forth between accounts controlled by the same firm, giving the appearance of higher trading volume and artificially boosting the value of the asset.The sting came after the SEC tipped off the FBI to potential market manipulation by a Boston-based crypto firm called Saitama, which at one point had boasted a multi-billion market value, the press release said. The tip prompted prosecutors to launch a fake crypto firm called NexFundAI and create a fake token. Over the monthslong operation, the FBI witnessed three market makers wash trade tokens for crypto clients, offering to manipulate the price of NexFundAI's token via video calls and Telegram chats.The sting charged ZM Quant, CLS Global, and MyTrade with wash trading related to their communications with NexFundAI. A fourth firm, Gotbit, was not involved with NexFundAI but was charged in a similar scheme. The sting also charged 15 individuals, including six people associated with Saitama.The firms' trading scheme "allegedly bilked honest investors out of millions of dollars," Jodi Cohen, Special Agent in Charge of the FBI's Boston Division, said in a statement.The prosecutors say those charges mark the first of their kind in the crypto industry, even as the practice of wash trading has been outlawed and strictly enforced in other financial markets. "Cryptocurrency is no exception. These are cases where an innovative technology – cryptocurrency – met a century old scheme – the pump and dump. The message today is, if you make false statements to trick investors, that's fraud. Period," Acting United States Attorney Joshua Levy said in a statement released Wednesday.The charges come as crypto-related scams are on the rise. The FBI's 2023 <a target="_blank" href="https://www.ic3.gov/Media/PDF/AnnualReport/2023_IC3Report.pdf">internet crime report</a> shows crypto fraud cost investors almost $4 billion last year. One kind of scam, <a target="_blank" href="https://markets.businessinsider.com/news/currencies/crypto-scam-kansas-bank-pig-butchering-jail-prison-embezzlement-fraud-2024-8?_gl=1*uimjl9*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyODU3MjAwOS4yNTEuMS4xNzI4NTcyMDQ5LjIwLjAuMA..">"pig butchering,"</a> has <a target="_blank" href="https://markets.businessinsider.com/news/currencies/crypto-crime-pig-butchering-scam-bitcoing-trafficking-fraud-cryptocurrency-2024-2?_gl=1*1iwjahf*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyODU3MjAwOS4yNTEuMS4xNzI4NTcyNjc3LjU2LjAuMA..">stolen at least $75.3 billion</a> in crypto in recent years, according to one study.

US sting operation catches crypto firms 'wash trading' to boost token values

India is resolved to lead the world in 6G, communications minister <keyword id="19999763" type="General" weightage="20" keywordseo="Jyotiraditya-Scindia" source="keywords">Jyotiraditya Scindia</keyword> said on Tuesday, terming the <keyword id="20434665" type="General" weightage="20" keywordseo="telecom-sector" source="keywords">telecom sector</keyword> of the country as 'aggressive' and 'ambitious'. Scindia, speaking at the inauguration of <keyword id="21058244" type="General" weightage="20" keywordseo="India-Mobile-Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="India Mobile Congress" meta.hostid="153" meta.entityid="India Mobile Congress">India Mobile Congress</keyword> and World Telecommunication Standardization (WTSA) 2024, said with the <keyword id="22506536" type="General" weightage="20" keywordseo="Bharat-6G-Alliance" source="keywords">Bharat 6G Alliance</keyword>, India hopes to contribute at least 10 per cent patents to 6G standardisation. "It is our belief and our commitment -- India followed the world in 4G, we marched with the world in 5G, but we shall lead the world in 6G," the minister asserted. With the fastest <keyword id="20366727" type="General" weightage="20" keywordseo="5G-rollout" source="keywords">5G rollout</keyword> in India wherein 98 per cent of districts and 90 per cent of all villages were covered in a span of just 21 months, Scindia said it is the Prime Minister Narendra Modi's effort of not just embracing, but bracing the country to become the first-mover in 6G technology. "It is noteworthy that the Indian Mobile Congress and the International 6G Symposium demonstrates both local and global advancements in 6G, and also design principles that will shape the future of telecom," he further said. The recent changes to the <keyword id="22077688" type="General" weightage="20" keywordseo="Telecommunications-Act-2023" source="keywords">Telecommunications Act 2023</keyword> have been designed in such a way so as to modernise India's telecom framework, drawing light upon hitherto unaddressed areas such as the high potential sector of <keyword id="21282723" type="General" weightage="20" keywordseo="satellite-communications" source="keywords">satellite communications</keyword>, addressing the challenges of the digital era, the most important being <keyword id="20080676" type="General" weightage="20" keywordseo="cyber-security" source="keywords">cyber security</keyword>, Scindia said. "The telecom sector, much like other growth-critical sectors in India, is aggressive, is ambitious, and its outlook in our journey from Amrit Kaal to Shatabdi Kaal is to lead the world," he said. India Mobile Congress (IMC) is an annual event organized by the Department of <keyword id="20204336" type="General" weightage="20" keywordseo="telecommunications" source="keywords">Telecommunications</keyword> (DoT) and the Cellular Operators Association of India (COAI). IMC 2024 will see participation from over 400 exhibitors, nearly 900 startups, and participation from 120+ countries. About 3,200 delegates from over 160 countries are part of the WTSA assembly. "We are confident that this (WTSA), along with the Indian Mobile Congress in its 8th edition... will serve as a breeding ground for innovation, but also showcase India's impending but inevitable emergence as a global hub for telecommunications across the world," Scindia said.

India set to lead global 6G revolution: Telecom Minister Jyotiraditya Scindia

<ul class="summary-list"><li>After two scandals this year, PwC's business in the Asia-Pacific region has fallen.</li><li>The firm's license to operate in China was suspended for six months for its involvement in a fraud case.</li></ul>After scandals in Australia and China this year, PwC has lost business in the Asia-pacific region.On Monday, the <a target="_blank" class="" href="https://www.businessinsider.com/partner-pay-at-big-four-falling-ey-pwc-deloitte-kpmg-2024-10">Big Four</a> consulting firm reported a 12.7% decline in net income in the region for the financial year ending in June. <a target="_blank" class="" href="https://www.pwc.com/gx/en/about/transparency-report/2024/financials.html">PwC said</a> demand was particularly slow in China, where revenues fell.In September, the firm was found to have <a target="_blank" class="" href="https://www.pwc.com/gx/en/news-room/press-releases/2024/pwc-network-statement-regarding-pwc-zhong-tian-administrative-penalties.html">helped conceal fraud at the now-collapsed Chinese property developer Evergrande.</a>The Chinese government fined PwC $62 million and removed its license to operate in the country for six months. 11 employees were fired or left the company, and state-owned enterprises have since dropped PwC as their auditor.Mohamed Kande, PwC's global chairman, <a target="_blank" class="" href="https://www.pwc.com/gx/en/global-annual-review/2024/pwc-global-annual-review-2024.pdf">said</a> the findings of the Evergrande audit were in "stark contrast" to the high-quality work PwC produces and were not representative of what the firm stands for.The firm's second regional scandal hit in Australia after a senior partner in its tax division was found to have passed confidential information from his work with the government to colleagues to help them win new business with multinational technology companies like Uber and Google, <a target="_blank" href="https://www.afr.com/companies/professional-services/the-emails-that-almost-destroyed-pwc-australia-20240802-p5jyv1">the Australian Financial Review </a>first reported.PwC sold its government consulting business in Australia following the revelations.Overall revenues in Asia-Pacific, which is the smallest of the firm's regions, were down by 5.6% in local currencies. PwC highlighted that business had performed well in India, where revenues increased.Despite the regional impact on the business, PwC posted an overall growth of 3.7% to reach record-high gross revenues of $55.4 billion.Like other leading consultancies, PwC has been hit by falling demand for consulting services, and its growth rate has slowed. In FY2023, revenue grew 9.9%.Following a pandemic-era rush on advisory services, demand for professional services has slowed, leaving firms overstaffed for the level of work. While EY and Deloitte have been <a target="_blank" class="" href="https://www.businessinsider.com/big-four-consultancies-deloitte-ey-cut-staff-pwc-accenture-2024-10#:~:text=Deloitte%20and%20EY%20are%20trimming,be%20over%2C%20one%20analyst%20said.">trimming back staff numbers</a> in the past year, PwC expanded its workforce by 10,000 in FY2024 to reach 370,000 global employees."Despite a backdrop of economic headwinds, we've seen revenue growth across all of our lines of business, deepened our strategic alliances, and invested $1.5 billion to expand and scale our AI capabilities," said Mohamed Kande, PwC's global chairman.

Scandals in China and Australia hit Big 4 giant PwC, but global revenues reached a record high

In the age of satellite-powered communication, low-Earth orbit (LEO) satellites have rapidly grown into a crucial backbone for global <keyword id="21088925" type="General" weightage="20" keywordseo="internet-access" source="keywords">internet access</keyword> and communication networks. Companies like <keyword id="19905255" type="General" weightage="20" keywordseo="SpaceX" source="keywords" meta.keywordsubtype="org" meta.entityname="SpaceX" meta.hostid="261" meta.entityid="SpaceX">SpaceX</keyword> and <keyword id="19904608" type="General" weightage="20" keywordseo="Amazon" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon" meta.hostid="261" meta.entityid="Amazon">Amazon</keyword> are racing to launch <keyword id="23169958" type="General" weightage="20" keywordseo="satellite-constellations" source="keywords">satellite constellations</keyword> to bring high-speed connectivity to millions of people across the world, particularly in remote regions. However, as the number of satellites in orbit rises, a pressing question emerges: do we really need so many? Low-orbit satellites offer remarkable potential. Positioned just 100 to 1,200 miles above the Earth, these satellites can deliver fast, reliable communications by bouncing data from space to ground, circumventing the limitations of traditional infrastructure like cell towers. SpaceX’s Starlink, for example, currently operates more than 6,000 LEO satellites, with plans to add tens of thousands more. But why so many? The answer lies in a fundamental technological limitation: each satellite's antenna can only handle signals from one user at a time. To serve millions of users worldwide, companies like SpaceX have had to launch entire constellations of satellites, constantly orbiting the planet to provide continuous coverage. Each satellite is responsible for just a small patch of Earth, handing off signals from user to user, like a relay race across the skies. The result is a crowded, expensive race to space as constellations are technically complex, costly to launch and maintain and increasingly contribute to the risk of overcrowded orbits and <keyword id="20715750" type="General" weightage="100" keywordseo="space-debris" source="keywords">space debris</keyword>. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">Overcrowded orbits </h2>Space, despite its vastness, is becoming a bit cramped — at least in the low-orbit band where these satellites reside. As companies deploy hundreds or even thousands of satellites, the risk of collisions grows. When satellites crash, they can break apart, generating debris that orbits the Earth at high speeds, threatening other satellites or spacecraft. The implications for future space travel, satellite operations, and even human exploration are serious. Each piece of debris could trigger a cascade of collisions, further cluttering space with hazardous fragments. While the possibility of debris crashing down to Earth remains slim, the growing risks in space have sparked discussions about the long-term sustainability of the satellite boom. <div type="Article" hostid="261" msid="112780639" title="Space startup GalaxEye, started by IIT Madras alumni, eyes private satellite launch in 2025" mstype="2" mssubtype="0"></div> <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">A breakthrough: Fewer satellites, more efficiency </h2>But what if we didn't need so many satellites? A recent breakthrough in <keyword id="20354487" type="General" weightage="20" keywordseo="satellite-technology" source="keywords">satellite technology</keyword> could dramatically reduce the number of satellites required to provide global coverage. Researchers at Princeton University and Yang Ming Chiao Tung University in Taiwan have developed a technique that allows a single satellite antenna to manage signals for multiple users simultaneously — something previously thought impossible for fast-moving, low-orbit satellites. Their method, described in a paper titled "Physical Beam Sharing for Communications with Multiple Low Earth Orbit Satellites," allows satellite antennas to split their signal beams without requiring additional hardware. This could mean fewer satellites are necessary to provide the same level of coverage, leading to smaller constellations and less crowded orbits. In practical terms, a conventional LEO satellite network may require around 70 to 80 satellites just to cover the United States. With this new technique, that number could drop to as few as 16, greatly reducing costs, complexity, and the likelihood of space debris. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">The future of space </h2>While the technology is still in its early stages, the potential is clear: fewer satellites, fewer risks, and less debris cluttering our atmosphere. This development doesn’t just offer cost savings — it also provides a more sustainable approach to the rapidly expanding satellite industry. Instead of the current approach, where the more satellites launched, the better, we might be entering a new era where the goal is to make satellite technology smarter and more efficient. By designing satellites capable of handling more tasks with less hardware, companies could still provide the coverage and connectivity the world needs, without overwhelming low-Earth orbit with debris. The answer to whether we do need these many satellites, thanks to new research, may soon be no. As satellite technology evolves, we could see the need for massive constellations decrease, ensuring a future where global communication needs are met without overcrowding the sky. As the world increasingly relies on space for essential services, from internet access to GPS navigation, finding a balance between technological innovation and environmental stewardship will be critical. We may not need more satellites — just better ones. <div type="Article" hostid="261" msid="111747705" title="20 Starlink satellites rained down on Earth yesterday; turbulent space weather doomed mission recovery" mstype="2" mssubtype="0"></div>

Do we really need so many satellites?

On Thursday evening, a significant <keyword id="22471557" type="General" weightage="20" keywordseo="global-cyber-outage" source="keywords">global cyber outage</keyword> began, causing a massive disruption to Microsoft Windows users around the world. This event impacted users in countries including India, Australia, Germany, the United States, and the UK, with affected systems displaying the dreaded <keyword id="22469490" type="General" weightage="20" keywordseo="Blue-Screen-of-Death" source="keywords">Blue Screen of Death</keyword> (BSOD). This malfunction led to automatic system restarts or shutdowns, severely hampering productivity and operations across various sectors. The root cause, as identified by companies like Dell Technologies, was linked to a recent update from the <keyword id="19906883" type="General" weightage="20" keywordseo="cybersecurity" source="keywords">cybersecurity</keyword> firm <keyword id="20424191" type="General" weightage="20" keywordseo="CrowdStrike" source="keywords" meta.keywordsubtype="org" meta.entityname="CrowdStrike" meta.hostid="261" meta.entityid="CrowdStrike">CrowdStrike</keyword>. The outage had far-reaching consequences, particularly for essential systems used by several airlines. In the US, carriers such as American Airlines, Frontier Airlines, Allegiant, and Sun Country experienced operational disruptions. Similarly, in India, IndiGo and other airlines were affected. Beyond the aviation industry, the outage also disrupted banks, supermarkets, media outlets, and other businesses who are extensively reliant on Microsoft's cloud services. <h2>What is CrowdStrike?</h2>CrowdStrike is a leading cybersecurity company known for its advanced security solutions designed to protect against <keyword id="19973480" type="General" weightage="20" keywordseo="data-breaches" source="keywords">data breaches</keyword>, <keyword id="19955190" type="General" weightage="20" keywordseo="ransomware" source="keywords">ransomware</keyword>, and <keyword id="19945689" type="General" weightage="20" keywordseo="cyber-attacks" source="keywords">cyber attacks</keyword>. Founded in 2012 by former McAfee employee George Kurtz, CrowdStrike has become a critical player in the cybersecurity landscape, serving a diverse clientele that includes global investment banks, universities, and major corporations. <div type="Article" hostid="261" msid="111858142" title="Global cyber outage: Microsoft users report &amp;#39;blue screen of death&amp;#39;; flights cancelled" mstype="2" mssubtype="0"></div>At the heart of CrowdStrike's offerings is the <keyword id="21411329" type="General" weightage="20" keywordseo="Falcon-platform" source="keywords">Falcon platform</keyword>. This comprehensive cybersecurity solution uses a single sensor and a unified threat interface to provide real-time indicators of attacks, hyper-accurate detection, and automated protection. The platform is designed to correlate attacks across endpoints, workloads, and identities, effectively stopping identity-driven breaches in real time. The recent issues stemmed from an update to CrowdStrike’s Falcon sensor. This update reportedly caused the sensor to malfunction, leading to conflicts with Windows systems and resulting in the widespread blue screen errors. CrowdStrike acknowledged the error and has since been actively working on a resolution. The company assured users that there was no need to open a support ticket and promised to provide updates as they become available. <h2>CrowdStrike, Sony, and <keyword id="19910206" type="General" weightage="20" keywordseo="North-Korea" source="keywords">North Korea</keyword></h2>CrowdStrike is no stranger to the spotlight, having been involved in several high-profile cyber investigations. One notable case is the 2014 Sony Pictures hack, where a group called the Guardians of Peace, believed to be affiliated with North Korea, hacked into Sony Pictures Entertainment. <div type="Article" hostid="261" msid="111856595" title="Microsoft outage – London Stock Exchange, banks and airlines across the world affected" mstype="2" mssubtype="0"></div>GoP stole vast amounts of information and threatened acts of terrorism against movie theatres unless Sony cancelled the release of "The Interview," a comedy about the assassination of North Korean leader Kim Jong Un. In this investigation, CrowdStrike discovered evidence that seemed to definitively connect North Korean players to the Sony hacking. <h2>The “Blue Screen of Death” explained</h2>The Blue Screen of Death (BSOD) is a critical error screen displayed on Windows operating systems when a severe system issue occurs, preventing safe operation. This error forces the computer to restart unexpectedly, often resulting in data loss. In the recent incident, the BSOD error message indicated that the PC ran into a problem and needed to restart, leaving users frustrated and businesses scrambling for solutions. While Microsoft has confirmed that the Azure outage has been resolved, the incident has brought a spotlight to the potential risks associated with heavy reliance on cloud services. Meanwhile, CrowdStrike has offered solutions on its members-only platform and continues to address the fallout from the outage.

Global Cyber Outage: What is CrowdStrike? How is it linked to the global Microsoft outage?

A couple of years back, anybody with a full-time job across the globe used to say that they work a "9 to 5 (9 am to 5 pm)." However, as per a recent report, that is no longer the average working hours and more and more employees are now adapting to a <keyword id="23061305" type="General" weightage="20" keywordseo="flexible-work-style" source="keywords">flexible work style</keyword>. The <keyword id="20534318" type="General" weightage="20" keywordseo="coronavirus-pandemic" source="keywords">coronavirus pandemic</keyword>, in 2020, saw a major change in work patterns across the globe. As companies shifted their operations remote overnight, employees began working at their own pace, at their own time. At the time, many reports had come up that the future of work would be flexibility in terms of working hours and location. And as per a latest report, that has started happening. <h2>Bye bye 9-to-5 </h2> The standard 9-to-5 workday has now transitioned to more of a 10-to-4 routine, according to a 2023 Global Traffic Scorecard by INRIX Inc, a traffic analysis firm. This shift means fewer people are commuting during the early hours, creating a new trend in daily traffic flow. With fewer people hitting the road in the early morning or evening, traffic congestion has now shifted to the middle of the day. A CNBC report quotes Bob Pishue, a transportation analyst who authored the INRIX report, saying, "We’re seeing less activity in the morning and evening but much more around noon." Surprisingly, the number of trips made around noon is now almost equal to those at 9 am and 5 pm What was once a lull between morning and evening traffic has transformed into a peak period of congestion. <h2><keyword id="19901232" type="General" weightage="100" keywordseo="work-life-balance" source="keywords">Work-life balance</keyword> takes center stage </h2> The report also quotes David Satterwhite, CEO of Chronus. He says that many employees have embraced the ability to work remotely and only come into the office when absolutely necessary. This might mean arriving late, leaving early, or coming in for a brief meeting before heading back home. This trend, often called “coffee badging,” has become widely accepted as employees pop into the office for short stints and then continue their workday elsewhere. A recent survey from Owl Labs found that 58 percent of hybrid workers admitted to checking into the office for just a few hours before leaving. These days, more workers prioritise work-life balance, flexible hours, and mental health support over climbing the corporate ladder. Many are reluctant to spend more time at the office than necessary. In fact, if the option to work from home were removed, 66% of workers said they would start searching for a new job that offered more flexibility, according to Owl Labs. Of those, around 39% would quit right away. In January this year, a study conducted by Randstad also revealed that workers prioritise work-life balance over salary when evaluating potential job opportunities. According to the study, 57 percent of employees would reject a job offer if it negatively impacted their work-life balance. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/openai-to-meta-ai-companies-that-were-accused-of-copyright-infringement/articleshow/113088658.cms" data-type="tilCustomLink" target="_blank"></a><a href="https://www.businessinsider.in/business/news/nykaa-sues-tata-cliq-ceo-gopal-asthana-for-contract-breach-says-he-approached-employees-to-join-rival-company/articleshow/113082094.cms" data-type="tilCustomLink" target="_blank">Nykaa sues Tata Cliq CEO Gopal Asthana for contract breach, says he approached employees to join rival company</a> OpenAI to Meta: AI companies that were accused of copyright infringement

You Searched For "global operations" and got 12 results

Amul thinking to enter European market after US success, MD Jayen Mehta calls it the lifeline for rural India

BI India Bureau

US vs. Chinese replenishment ships: The workhorses that keep aircraft carriers operating

Benjamin Brimelow

Satellite 'magic bullet' to connect the unconnected; offers opportunity to cover areas left out: Sunil Mittal

PTI

Climate Action 15: 2024's top global innovators powering green solutions

Insider Inc.

Boeing announces global job cuts in the middle of workers’ strike, 17,000 people could lose their jobs

BI India Bureau

US attack submarine crew picks up top award for 'demanding' spy operations

Chris Panella

US sting operation catches crypto firms 'wash trading' to boost token values

Kelly Cloonan

India set to lead global 6G revolution: Telecom Minister Jyotiraditya Scindia

PTI

Scandals in China and Australia hit Big 4 giant PwC, but global revenues reached a record high

Polly Thompson

Do we really need so many satellites?

Ashmita Gupta

Global Cyber Outage: What is CrowdStrike? How is it linked to the global Microsoft outage?

BI India Bureau

No more 9 to 5: Employees are coming to work late and leaving early, new data shows

Divyanshi Sharma

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