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<keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s mixed-martial arts, Matrix Fight Night, will return to the National Capital Region once again with <keyword id="142208" type="General" weightage="80" keywordseo="mfn" source="Orion">MFN</keyword> 12 set to take place on July 1 at the Noida Indoor Stadium. In the Main Event of MFN 12, India's <keyword id="11572" type="General" weightage="100" keywordseo="angad" source="Orion">Angad</keyword> Bisht will defend his Flyweight title against Brazil's <keyword id="17635032" type="General" weightage="50" keywordseo="hugo-paiva" source="Orion">Hugo Paiva</keyword>. Bisht defeated Egypt's Mohamed Gamal for the Flyweight title at MFN 10 in November 2022. Speaking on the upcoming title match, Angad said, "I am ready for the fight as always. I have trained well over the past few months and retaining the prestigious MFN title has been my goal ever since the match-up was announced. I will give my all once again, but it will be a good fight against Brazil's Hugo Paiva, who is a tremendously skilled fighter as well. But I will have a few tricks up my sleeve." Asked about his opponent, Brazil's Hugo Paiva said, "I am excited to come to India to win the MFN title. I have a strong opponent to face who has been unbeaten in his past couple of fights. But I have trained well with my team and we are confident that we will make an impact. My aim is not only to win the title, but also to entertain the fans." Meanwhile, India's highest-ranked female MMA fighter Puja Tomar will also defend her Strawweight title against Russia's Anastasia Feofanova. Ayesha Shroff, Co-Founder MFN, said, "Absolutely thrilled to share this exciting card with you all! MFN is poised for the next chapter and this is a fantastic step towards that announcement." <keyword id="1387697" type="General" weightage="50" keywordseo="krishna-shroff" source="Orion">Krishna Shroff</keyword>, Co-Founder MFN, further added, "Being my first time playing Matchmaker, I had a blast with this one. The fight card makes or breaks your show because at the end of the day, your fighters are the stars. They are the main characters people come to see. So there is a lot of expectation and pressure riding on them to put on exciting fights and perform. My job is to make that slightly easier and to help take the show a notch higher by putting together the best matchups between fighters who have the most interesting stylistic matchups, specifically. With 2 championship belts on the line, some huge names from the Indian combat world, and massive international talent from across the globe, MFN 12 promises to be next level." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-jimny-vs-honda-elevate-comparison-of-features-and-style/slidelist/100815083.cms">Maruti Suzuki Jimny vs Honda Elevate – Which SUV suits your need</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-looking-to-grab-opportunities-arising-due-to-global-shifts-in-energy-and-supply-chain-says-chandrasekaran/articleshow/100815501.cms">TCS looking to grab opportunities arising due to global shifts in energy and supply chain, says Chandrasekaran</a>

Indian MMA fighter Angad Bisht to defend Flyweight title on July 1 — All you need to know

<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> wants the <keyword id="126959" type="General" weightage="50" keywordseo="world-trade-organization" source="Orion">World Trade Organization</keyword> to be more progressive and listening to other countries, Union Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> said Monday asserting that the <keyword id="6357761" type="General" weightage="100" keywordseo="wto" source="Orion">WTO</keyword> needs to give more space to the countries which have something different to say and not just hear. "I would like the WTO to be a lot more progressive, a lot more listening to all countries, to be fair to all members," Sitharaman said during a fire-side chat at the Peterson Institute for International Economics, a top American think-tank here. "I, fortunately, unfortunately spent some time with the WTO in my capacity as a commerce minister of India between 2014 and 2017. It has to give more space to hear voices of countries which have something different to say and not just hear, but also somewhat heed because today's message for the WTO should be to have greater openness," Sitharaman asserted. "In fact, I'm not quoting, in the context of WTO, but it might be useful to recall the words of US Commerce Secretary (sic), <keyword id="10411709" type="General" weightage="50" keywordseo="katherine-tai" source="Orion">Katherine Tai</keyword>. She had recently spoken and I was very, very impressed, if I can use that word, about what exactly is the traditional trading approach. What exactly is liberalizing the market? What would it actually mean in terms of tariff reduction?" she said. "It is true now, countries do look at it. It is a time when countries are looking at what extent to which you would want to have market liberalization. It has had cost repercussions for the US economy, and that's exactly what the US Secretary Commerce has said. And if that's something which the <keyword id="17093053" type="General" weightage="50" keywordseo="united-states-commerce" source="Orion">United States Commerce</keyword> Secretary feels, I felt the same in 2014 and 2015. Probably my articulation was never getting a space in global media. But many of the global south countries do have the same feeling," she said. "What exactly is this? How far is liberalization? To what extent tariff reduction? We in India for all the less developed countries, the global South, if you would ask them would have a similar opinion as the US Commerce Secretary. But in India, we've already extended to all the least developed countries, quota-free, tariff-free trading policy," she said. "So any country, let's say from Africa or anywhere else, the Pacific Islands or countries which are aspirational, low income countries can export to India without any of these restrictions. So, where it is possible, we are opening up, but at the same time, we need to look at how India's become remanufactured almost because if you go through the MFN route, you end up opening up for the efficient ones in the market, and that may not be your country. Manufacturing abilities of communities have all gone for a toss, not just in India, but I suppose in many countries as well," she said. The finance minister wonders how a country gets its manufacturing back if it only have to constantly liberate its market. "Discussion worthy points." "India's attempt to talk to the WTO, talk in WTO have all faced with just no moment. The other classic example, which is in the minds of many of the emerging market countries is the electronics transmission related wall. Isn't that since 1998, all of us are sitting and watching that you can't do anything on the customs route for so much that is happening in the electronics business. It's hitting the kind countries very differently," she said. "Since 1998, there has never been a need for reviewing it. All that I'm asking is that. And why wouldn't every ministerial conference, which happens, ever, ever, ever take up this for discussion. It doesn't take. The moratorium continues. So, it shouldn't be difficult for you to appreciate. So when countries will have to speak at the WTO, it has to be on very many issues on which decision has not happened for over decades," Sitharaman said. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/odysse-vader-is-the-latest-electric-bike-in-india-offers-a-range-of-125-km-on-a-single-charge/articleshow/99268636.cms">Odysse Vader is the latest electric bike in India, offers a range of 125 km on a single charge</a> <a href="https://www.businessinsider.in/tech/news/most-common-passwords-can-be-easily-cracked-by-ai-in-under-a-minute/articleshow/99379900.cms">AI chatbots are cracking the code: How PassGAN can break into 51% of common passwords in under a minute</a>

WTO needs to give more space to countries which have something different to say: FM

Ahead of the <keyword id="6360189" type="General" weightage="50" keywordseo="union-budget" source="Orion">Union Budget</keyword>, Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> said on Sunday that she was aware of the pressures of the middle class but also recalled that the present government has not imposed any fresh taxes on them. <keyword id="679937" type="General" weightage="70" keywordseo="sitharaman" source="Orion">Sitharaman</keyword> will present Union Budget for 2023-24 in the Lok Sabha on February 1 amid expectations that the government will raise the income tax limit and provide relief to the middle class taxpayers, besides others. "I too belong to the middle class so I can understand the pressures of the middle class. I identify myself with the middle class so I know," she said while speaking at a function organised by the Panchjanya magazine, an RSS- associated weekly. In the same breath, the minister reminded the audience that the present Modi government has not imposed any fresh taxes on the middle class. Also, she added, income of up to Rs 5 lakh is exempt from the income tax. She said the government has taken various measures like developing the metro rail network in 27 cities and building 100 smart cities to promote ease of living. The minister assured them that the government can do more for the middle class as its population is growing and it has become sizeable now. "I quite recognise their problems. The government has done a lot for them and continue doing the same," she said without making any commitment. Sitharaman said the government has been raising the outlay on capital expenditure in each Budget since 2020. For current financial year, she said, it has been increased by 35 per cent to Rs 7.5 lakh crore as it has a multiplier effect on the economy. On the banking sector, she said, the government's 4R strategy --Recognition, <keyword id="1518048" type="General" weightage="50" keywordseo="recapitalization" source="Orion">Recapitalization</keyword>, Resolution and Reform--has helped in revival of public sector banks (PSBs). As a result of this, non-performing assets (NPAs) have declined and health of PSBs has improved greatly, she said. The government implemented an unprecedented recapitalization programme for PSBs amounting to Rs 2.11 lakh crore to support capital adequacy and prevent their default. PSBs turned the corner during 2020-21 with a combined net profit of Rs 31,820 crore supported by massive recovery, reduction in NPAs and windfall gains on their bond portfolio. Subsequently, the combined profit more than doubled to Rs 66,539 crore in FY22 despite COVID-19 pressure. They had booked collective losses to the tune of Rs 2,07,329 crore for five straight years from 2015-16 to 2019-20. The <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> last month said, banks' gross NPA ratio has fallen to a seven-year low of 5 per cent and the banking system remains sound and well-capitalised. Speaking about farmers, Sitharaman said the government is committed to doubling their income and has taken various steps in that direction. On trade with Pakistan, she said the neighbouring country never offered Most Favoured Nation (MFN) status to India. Trade relations with Pakistan have suffered since the Pulwama terror attack in 2019, she said. With regard to freebies, the minister said, promises have to be made keeping in mind the financial health of the state and there has to be full transparency about it. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/more-unicorns-focused-on-profitability-now-than-just-burning-cash-as-funding-winter-sets-in/articleshow/97030045.cms">More unicorns focused on profitability now than just burning cash as funding winter sets in</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/over-5-4-lakh-housing-units-to-be-completed-across-top-7-cities-in-2023-anarock-report/articleshow/97029912.cms">Over 5.4 lakh housing units to be completed across top 7 cities in 2023: Anarock report</a>

I belong to middle class, understand their pressures: Sitharaman before Budget

<ul class="summary-list"><li>The US and its allies plan to make the move to hold <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword> accountable for its invasion of Ukraine.</li><li>Revoking MFN status would mean enable the countries to slap tariffs on Russian goods.</li></ul>The US, European Union, and Group of Seven countries plan to strip Russia of its "most favored nation" status, <a href="https://www.reuters.com/business/biden-call-an-end-normal-trade-relations-with-russia-increased-tariffs-russian-2022-03-11/">Reuters reported.</a>President Biden will unveil the plans at 10:15 a.m. EST on Friday, the newswire reported, citing a source who spoke on condition of anonymity. Revoking Russia's status would allow the US and its allies to slap tariffs on Russian goods, potentially opening up an avenue to apply more pressure to the country's already strained economy.Biden would announce "actions to continue to hold Russia accountable for its unprovoked and unjustified war on Ukraine," the White House said, according to Reuters, but without providing further details. The White House did not immediately respond to Insider's request for comment made outside of normal US working hours.The international community has imposed an unprecedented level of sanctions against Russia in recent weeks in response to its invasion of Ukraine. Western powers in particular have levied <a href="https://www.businessinsider.com/russia-sanctions-ukraine-invasion-economic-damage-putin-russian-elites-banks-2022-2">powerful economic and financial measures</a> against the country. Sanctions have sought to cut Russia's <a href="https://www.businessinsider.com/russia-sanctions-ukraine-invasion-economic-damage-putin-russian-elites-banks-2022-2">access to critical cash reserves</a>. Some Russian financial institutions have also been cut from SWIFT, the international payments network considered a <a href="https://www.businessinsider.com/russia-sanctions-ukraine-invasion-economic-damage-putin-russian-elites-banks-2022-2">pillar of global finance.</a> Foreign businesses, in turn, have scrambled to suspend their Russian operations.Sources told the agency that individual countries will make the the change to Russia's trading status according to their own protocols. The Group of Seven also includes Canada, France, Germany, Italy, Japan, and the UK.In the US, removing Russia's "Permanent Normal <keyword id="11931670" type="UNKNOWN" weightage="60" keywordseo="trade" source="Orion">Trade</keyword> Relations" (PNTR) status would require an act of Congress, but would likely pass since there have been bipartisan signals of support for the measure, Reuters reported.On March 8, Biden announced a <a href="https://www.businessinsider.com/biden-us-ban-russian-oil-natural-gas-coal-imports-report-2022-3">ban on Russian energy imports</a>, encompassing Russian oil, liquefied natural gas, and coal shipments. The European Commission the same day outlined plans to <a href="https://www.businessinsider.com/biden-us-ban-russian-oil-natural-gas-coal-imports-report-2022-3">diversify its gas supplies</a> to reduce EU reliance on Russian natural gas.

The US and G7 allies plan to strip Russia of its 'most favored nation' status, enabling tariffs to be imposed on Russian goods, a report says

<ul><li>Indian has revoked the “most favoured nation” (MFN) status to <keyword id="3001" type="LOCATION" weightage="20" keywordseo="Pakistan">Pakistan</keyword> in the wake of a <keyword id="41453" type="PERSON" weightage="20" keywordseo="Suicide-attack">suicide attack</keyword> by Jaish-e-Mohammad (JeM) in Kashmir. </li><li>The MFN status grants a foreign country favourable access to domestic markets and beneficial trade terms. </li><li>India contends that JeM has been given a safe haven and a launchpad by the Pakistani establishment. </li></ul>Indian government has <a href="https://twitter.com/PIB_India/status/1096282961161244672">revoked </a>the “most favoured nation” (MFN) status to Pakistan in the wake of a suicide attack by Jaish-e-Mohammad (JeM) in Kashmir. The MFN status grants a foreign country favourable access to domestic markets and beneficial trade terms. India contends that JeM has been given a safe haven and a launchpad by the Pakistani establishment. Speaking to reporters, <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>, who <a href="https://www.businessinsider.in/arun-jaitley-resumes-office-attend-security-meeting-on-pulwama-attack/articleshow/68003378.cms">resumed his role as finance minister today</a> to attend security meetings, said that those responsible for the attack would pay “a heavy price”. The <keyword id="4650805" type="PERSON" weightage="20" keywordseo="pulwama-Attack">Pulwama attack</keyword> on Thursday was the worst - by the number of deaths - since militancy erupted in Kashmir in 1989. The announcement comes the morning after Pakistan <a href="https://www.businessinsider.in/jaish-e-mohammad-from-pakistan-kills-45-indian-soldiers-but-government-denies-link/articleshow/68003080.cms">denied any involvement</a> in the suicide attack in Kashmir’s <keyword id="1294304" type="LOCATION" weightage="20" keywordseo="Pulwama-district">Pulwama district</keyword> which killed 45 members of the Indian army. An additional 38 people were wounded. Most militant attacks in Kashmir attacks in recent years have been coordinated by either the JeM or Lashkar-e-Taiba, another Pakistani outfit. While India, along with the rest of the world, has repeatedly pressed Pakistan to clamp down harder on homegrown terrorist networks, it seems the requests have fallen on deaf ears. SEE ALSO: <a href="https://www.businessinsider.in/pulwama-attack-on-crpf-in-kashmir-condemned-by-pm-modi/articleshow/67997003.cms">India vows an ‘unforgettable lesson’ for the terrorists who killed 42 troopers</a> <a href="https://www.businessinsider.in/militant-attack-in-kashmir-on-crpf-convoy/articleshow/67994946.cms">42 security personnel killed in Kashmir in major militant attack: Reports</a>

India revokes Most Favoured Nation status to Pakistan after Pulwama attack

<ul class="summary-list"><li>The Project on Government Oversight is flagging the financial ties of Mina Hsiang.</li><li>Hsiang is in charge of the Biden administration's digital work across the federal government. </li></ul>A nonpartisan government watchdog group is sounding an alarm about <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech" source="Orion">tech</keyword> investments held by the Biden administration's top digital officer.The Project on Government Oversight has filed a complaint raising conflict-of-interest questions about Mina Hsiang, administrator of the US Digital Services.The <a href="https://www.pogo.org/letter/2022/02/pogo-asks-omb-to-rescind-ethics-waivers-that-put-a-top-official-above-the-law/" target="_blank" rel="noopener">letter</a> draws attention to several stock holdings including Hsiang's investment in Rebellion Defense, an artificial intelligence defense company that received a government contract in July 2021. Hsiang joined the administration first as an advisor in January 2021, when the holdings were worth between $15,000 and $50,000.When she sold the stock on September 30, 2021 — weeks after being tapped to the role of administrator — it was worth between $500,000 and $1 million, her financial disclosures show. Hsiang filed both disclosures past a federal deadline, but within a 30-day grace period where she wouldn't face a late penalty. The Biden administration granted Hsiang an ethics waiver that allowed her to keep most of her investments. Generally, most officials must divest the shares within three months of joining government from the private sector so that they can avoid having conflicts of interests arise.Hsiang's role involves overseeing 200 government workers and falls under the White House's <keyword id="13190028" type="UNKNOWN" weightage="60" keywordseo="office-of-management-and-budget" source="Orion">Office of Management and Budget</keyword>, where POGO directed its complaint."Ms. Hsiang's significant ongoing investments in tech companies do real harm to the American people by exposing government projects to the influence of an official who may have financial interests in them," Walter Shaub, who leads POGO's <keyword id="12265367" type="UNKNOWN" weightage="60" keywordseo="government-ethics" source="Orion">Government Ethics</keyword> Initiative, <a href="https://www.pogo.org/letter/2022/02/pogo-asks-omb-to-rescind-ethics-waivers-that-put-a-top-official-above-the-law/" target="_blank" rel="noopener">wrote</a> in the letter. Shaub, who was director of the Office of Government Ethics under the Obama administration and was critical of ethics rules under the Trump administration, told Insider in an interview that POGO was alarmed by the waiver because of its "sheer size." "It's just unheard of to issue basically an everything waiver for almost all of a person's assets," he said. "That literally puts them above the law."POGO's complaint comes at a time when Congress is <a href="https://www.businessinsider.com/stock-ban-congress-republicans-democrats-midterms-elections-2022-2" target="_blank" rel="noopener">considering</a> whether to ban members of Congress — as well as their family members, <a href="https://www.businessinsider.com/congress-staff-violated-stock-act-conflicts-of-interest-possible-2021-12" target="_blank" rel="noopener">top congressional staffers</a>, and even judges and Federal Reserve members — from trading individual stocks. The issue came to a head after Insider's "<a href="https://www.businessinsider.com/conflicted-congress-key-findings-stock-act-finances-investing-2021-12" target="_blank" rel="noopener">Conflicted Congress</a>" report found <a href="https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9" target="_blank" rel="noopener">57 members of Congress</a> and at least 182 senior-level congressional staffers had violated federal conflict of interest laws by failing to properly report their stock trades. <keyword id="13190029" type="UNKNOWN" weightage="60" keywordseo="omb" source="Orion">OMB</keyword> did not respond to Insider's questions about whether it intended to respond to POGO's letter, nor explain the various investments in Hsiang's portfolio.Parts of the waiver explain that the agency she oversees doesn't decide which tech companies to award contracts to. "Consistent with the stringent ethics standards this administration has put in place, these waivers were granted in full compliance with the law and through the standard process, following consultation with the Office of Government Ethics," said Isabel Aldunate, an OMB spokesperson. "Moreover, the waivers include important limitations to ensure that they do not extend more broadly than appropriate."Shaub said that while the White House's arrangement with Hsiang might be legal, "it isn't necessarily right." "A president could literally issue a waiver covering every asset owned by every government employee, and it would be legal, but nobody could argue it was the right thing to do," he said. Hsiang's transactions in Rebellion Defense create at least an optics problem that "scream for an independent investigation," according to POGO's letter. Hsiang sold her shares after Rebellion Defense raised <a href="https://www.axios.com/rebellion-defense-raises-150-million-billion-valuation-7e9b6365-10e0-4fdd-b109-9eb5f6965220.html" target="_blank" rel="noopener">$150 million</a> in venture capital funds, so it's possible that she sold off her shares because a new investor came in. Shaub said it was important to find out whether OMB let Hsiang hang onto her shares until they were worth more, whether Rebellion paid her a higher dollar amount for her shares because of her government role, and whether the company received its defense contract because of its ties to Hsiang. "We are willing to keep an open mind that maybe she has a legitimate answer, but without any explanation the public is left to imagine the worst," Shaub said. POGO also took issue with Hsiang's $950,000 investment in hedge fund MFN Partners given that it actively trades and could include companies the federal government does business with. Hsiang's waiver says she isn't able to divest from the firm until the end of 2024 because of the fund's withdrawal policy.POGO's letter urges OMB to either rescind the waivers so Hsiang has to divest her holdings, or to reassign her to an advisory role. The Senate has not yet conducted a confirmation vote for <keyword id="13190030" type="UNKNOWN" weightage="60" keywordseo="shalanda-young" source="Orion">Shalanda Young</keyword>, who is acting director and whose nomination to OMB director has otherwise cleared key Senate panels. Hsiang held several digital roles under the Obama administration, including as part of the team that oversaw the Healthcare.gov site that allowed people to buy government-subsidized private health insurance. After she left the Obama administration she was an executive at <a href="https://www.businessinsider.com/devoted-health-financial-results-first-half-2021-doubled-membership-2021-8" target="_blank" rel="noopener">Devoted Health</a>, a privatized Medicare company that connects patients to doctors. Since joining the administration she has overseen the <a href="https://www.vaccines.gov/" target="_blank" rel="noopener">Vaccines.gov</a> website which allowed people to search for places where they could get inoculated against COVID-19.

Watchdog group: Biden's top digital officer has financial investments that 'do real harm to the American people'

<ul class="summary-list"><li><keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword> is facing fresh antitrust scrutiny after consumers <a href="https://www.hbsslaw.com/sites/default/files/case-downloads/amazon-ebooks-price-fixing/01.14.21-complaint.pdf">filed a lawsuit</a> Thursday accusing the company of illegally colluding with major book publishers to drive up prices for <keyword id="123809" type="ORGANIZATION" weightage="60" keywordseo="ebooks">ebooks</keyword>.</li><li>The lawsuit claimed that Amazon negotiated anticompetitive deals in 2015 with the "big five" publishers — Hachette, HarperCollins, Macmillan, Penguin Random House, and <keyword id="780748" type="CITY" weightage="60" keywordseo="Simon-Schuster">Simon &amp; Schuster</keyword> — that allowed them to "inflate" prices by up to 30%.</li><li>Amazon, which controlled nearly <a href="https://www.bloomberg.com/graphics/2019-amazon-reach-across-markets/">90% of the ebook market</a> as of 2018, was able to benefit immensely from the higher prices by charging consumers more, according to the lawsuit.</li><li><a href="https://www.businessinsider.com/how-steve-jobs-and-apple-fixed-ebook-prices-2013-7#this-is-the-takeaway-apple-orchestrated-the-whole-thing-1?r=ts-sub">Apple was found guilty</a> in 2013 of colluding with the same five publishers — using a similar pricing practice — to illegally fix ebook prices, and <a href="https://www.businessinsider.com/tech-reactions-antitrust-report-2020-10#google-said-the-houses-recommendations-would-harm-consumers-4?r=ts-sub">lawmakers in the US</a> and EU have previously criticized Amazon's alleged use of the so-called "most favored nations" clauses.</li></ul>Several ebook customers on Thursday <a href="https://www.hbsslaw.com/sites/default/files/case-downloads/amazon-ebooks-price-fixing/01.14.21-complaint.pdf">filed a lawsuit</a> against Amazon accusing it of violating antitrust laws by illegally colluding with the "big five" <keyword id="366450" type="PERSON" weightage="60" keywordseo="Publishing">publishing</keyword> houses to drive up the prices of ebooks.The lawsuit alleged that Amazon entered into anticompetitive pricing agreements in 2015 with Hachette, HarperCollins, Macmillan, Penguin Random House, and Simon &amp; Schuster that allowed the companies to artificially increase prices by as much as 30%.Amazon, which controlled 89% of the ebook market as of 2018, according to a <a href="https://www.bloomberg.com/graphics/2019-amazon-reach-across-markets/">Bloomberg</a> analysis cited in the suit, then used its dominance to benefit from those prices hikes by charging consumers more."Time and again, Amazon's response to competition is not to compete on a level playing field, but to try to eliminate the competition - and that's not how things are supposed to work," Steve Berman, managing partner of Hagens Berman, the law firm that brought the suit, told Business Insider in a press release.Amazon and Hachette declined to comment. The other publishers did not respond to requests for comment.The lawsuit alleged that Amazon illegally inflated prices using a tactic called as "pricing parity," which relies on "most-favored-nation" clauses. MFNs are, in the business context, agreements between buyers and sellers that ensure a buyer gets as good of a deal on that seller's products as any other buyer in the market.But the lawsuit - similar to previous investigations by lawmakers in the US and EU - accused Amazon of using MFNs to instead prevent publishers from selling their ebooks to consumers at a lower price on websites that compete with Amazon."Amazon's behavior is astonishingly brazen, especially in light of past litigation and recent government actions in the US and abroad," Berman said.The <a href="https://ec.europa.eu/commission/presscorner/detail/en/IP_17_1223">EU reached an agreement with Amazon</a> in 2015 over its use of MFNs, saying at the time that the practice "may have made it more difficult for other e-book platforms to innovate and compete effectively with Amazon." That agreement barred the practice for five years, but only in the EU.In its <a href="https://www.businessinsider.com/tech-reactions-antitrust-report-2020-10?r=ts-sub">landmark antitrust report</a> in October 2020, the House Judiciary Committee also slammed Amazon over the issue, saying: "Amazon has a history of using MFN clauses to ensure that none of its suppliers or third-party sellers can collaborate with an existing or potential competitor to make lower-priced or innovative product offerings available to consumers."Amazon previously used a similar pricing tactic to prevent other <a href="https://www.businessinsider.com/amazon-ends-restrictive-pricing-parity-2019-3?r=ts-sub">third-party sellers</a> on its online marketplace from charging customers more on competing sites, ending the practice in March 2019 amid heightened antitrust scrutiny.The scheme Amazon and the big five publishers are accused of employing isn't new to the ebook industry, either.In 2013, a federal court ruled that <a href="https://www.businessinsider.com/how-steve-jobs-and-apple-fixed-ebook-prices-2013-7?r=ts-sub">Apple illegally colluded with the same publishers</a> to raise the prices of ebooks, sending the price skyrocketing virtually overnight, and the company eventually had to pay a <a href="https://www.businessinsider.com/apple-accused-of-price-fixing-or-antitrust-abuse-2019-?r=ts-sub">$450 million penalty</a>.The court also barred publishers from colluding with each other or using MFNs for five years. According to Thursday's lawsuit, that led to lower ebook prices in 2013 and 2014, before Amazon's renegotiated deals in 2015 caused prices to surge again.<div type="image" title="Screen Shot 2021 01 14 at 5.20.31 PM" height="1036" width="1880" msid="80280371" hostid="261"></div>The lawsuit, filed in the Southern District of New York, is seeking class-action status, and the plaintiffs are asking the court to reimburse consumers who were overcharged by Amazon competitors as a result of the alleged price-fixing as well as force Amazon and the publishers to abandon the practice.

Amazon hit with class action antitrust lawsuit claiming it colluded with major publishers to illegally drive up ebook prices by 30%

<ul class="summary-list"><li>One of the best sources of <keyword id="1374700" type="PERSON" weightage="60" keywordseo="B12">B12</keyword> for vegans and vegetarians is nutritional yeast. </li><li>Other vegan-friendly foods with B12 include nori and shiitake mushrooms. </li><li>Fortified foods like coconut milk and soy milk are also great B12 options for vegans. </li><li>This article was <a href="https://www.insider.com/insider-medical-review-board" target="_blank" rel="noopener">medically reviewed</a> by <a href="https://www.samanthacassetty.com/" target="_blank" rel="noopener">Samantha Cassetty</a>, MS, RD, <keyword id="52652" type="ORGANIZATION" weightage="60" keywordseo="nutrition">nutrition</keyword> and wellness expert with a private practice based in New York City.<a href="https://www.insider.com/?hprecirc-bullet"></a></li></ul>Vitamin B12 is one of the most difficult <keyword id="20918" type="PERSON" weightage="60" keywordseo="vitamins">vitamins</keyword> for vegans to get because it exists primarily in animal products like meat and dairy.It's important to get enough vitamin B12 in your diet because <a href="https://www.insider.com/vitamin-b12-benefits" target="_blank" rel="noopener">B12 has many health benefits</a> including helping the body form nerve and red blood cells. And a vitamin B12 deficiency can lead to <a href="https://ods.od.nih.gov/factsheets/VitaminB12-Consumer" target="_blank" rel="noopener">fatigue, constipation, and weakness</a>.If you are a <keyword id="6400741" type="UNKNOWN" weightage="60" keywordseo="Vegan">vegan</keyword> and looking for some ways to incorporate vitamin B12 into your diet here are four vegan-friendly food options: <h2>1. Fortified foods</h2><div type="image" title="Cereal" height="1060" width="2121" msid="78286095" hostid="261"></div>Fortified foods are foods that have vitamins or minerals added to them that they normally do not contain. Food manufacturers and government agencies like the <a href="https://www.ncbi.nlm.nih.gov/books/NBK208880/" target="_blank" rel="noopener">Food and Drug Administration </a>work together <a href="https://www.nutritionintl.org/what-we-do/by-programs/fortification/" target="_blank" rel="noopener">to fortify foods</a> as a way to address nutrient deficiencies within populations.Some examples of vegan-friendly foods fortified with vitamin B-12 include:<ul><li>Breakfast cereal, like Kellogg's All-Bran: one serving contains <a href="https://fdc.nal.usda.gov/fdc-app.html#/food-details/785576/nutrients" target="_blank" rel="noopener">11.7 mcg</a> of vitamin B12 or about 480% of your daily value. </li><li>Fortified soy milk, chocolate: <a href="https://www.health.harvard.edu/staying-healthy/the-a-list-for-vitamin-b-12-sources" target="_blank" rel="noopener">1.7 mcg</a> of B12, or about 70% of your daily value</li><li>Fortified coconut milk: one cup contains <a href="https://fdc.nal.usda.gov/fdc-app.html#/food-details/174116/nutrients" target="_blank" rel="noopener">3 mcg</a> of vitamin B12, or about 125% of your daily value. </li></ul><h2>2. Nori</h2><div type="image" title="Nori seaweed sushi" height="1060" width="2121" msid="78286097" hostid="261"></div><a href="https://www.encyclopedia.com/science/dictionaries-thesauruses-pictures-and-press-releases/nori" target="_blank" rel="noopener">Nori</a> is an edible form of seaweed, most commonly found in Japanese dishes. One sheet of nori contains <a href="https://fdc.nal.usda.gov/fdc-app.html#/food-details/387934/nutrients">1.9</a> mcg of vitamin B12, or about 80% of your daily value. Studies are mixed as to whether or not the B12 in nori is beneficial to humans. "Some [studies] showed nori containing the active vitamin B12, while others found nori containing exclusively pseudo-B12, which are not active in humans," says <a href="https://nutrition.ecu.edu/faculty-and-staff/roman-pawlak/" target="_blank" rel="noopener">Roman M Pawlak, PhD, RDN</a>, an associate professor at East Carolina University. Pawlak says vegans should incorporate a variety of foods in their diet to reach their daily B12 requirements. So, while you shouldn't write nori off, don't rely on it for all your B12 needs.Nori can be easy to incorporate into your diet. <a href="https://www.unco.edu/nhs/nutrition-dietetics/faculty-staff/gilis-jeff.aspx" target="_blank" rel="noopener">Jeff Gilis, MFN, RDN, NCSF-CPT,</a> a lecturer in the department of nutrition and dietetics at the University of North Carolina says some vegan-friendly meals and snacks with nori include: <ul><li>Vegan sushi rolls such as avocado, cucumber, or sweet potato rolls </li><li>Substitute dried seaweed packets in place of chips or pretzels </li><li>Add dried nori flakes to vegan poke bowls or rice</li></ul><h2>3. Nutritional yeast</h2><div type="image" title="Nutritional yeast" height="1060" width="2121" msid="78286099" hostid="261"></div>Nutritional yeast is a member of the fungus kingdom and <a href="https://www.nytimes.com/2020/05/08/dining/nutritional-yeast-nooch.html" target="_blank" rel="noopener">is vegan-friendly</a>. It's a form of deactivated yeast — meaning it's similar to the yeast used in bread baking but it is no longer alive — says Pawlak. It can be found in most grocery stores in either powder, granule, or flake format. A fourth of a cup of nutritional yeast flakes contains <a href="https://fdc.nal.usda.gov/fdc-app.html#/food-details/575722/nutrients" target="_blank" rel="noopener">17.6 mcg</a> of vitamin B12, which accounts for <a href="https://fdc.nal.usda.gov/fdc-app.html#/food-details/575722/nutrients" target="_blank" rel="noopener">730% of your recommended daily value</a>, making it a great option for vegans. "[It] has a cheesy flavor, most closely resembling parmesan cheese, so using it with Italian dishes works quite well. It can also be used in making plant-based "cheese" sauces to provide more of the cheesy-type of flavor that you typically look for," says Gillis. <h2>4. Shiitake mushrooms </h2><div type="image" title="Shiitake mushrooms" height="1000" width="2000" msid="78286102" hostid="261"></div>One hundred grams of shiitake mushrooms contain an average of <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4042564/" target="_blank" rel="noopener">5.6 mcg</a> (230% DV) of vitamin B12, making it a good option for both vegans and vegetarians. "These are easily incorporated into various dishes, depending on the person's preferences," says Gillis. Some meals that can be enhanced by shiitake mushrooms' umami flavor include: <ul><li>Stir-fries </li><li>Risotto </li><li>Pasta dishes </li></ul>You can even sautee them alone as a quick snack. <h2>Should vegans take a B12 supplement?</h2><a href="https://ods.od.nih.gov/factsheets/VitaminB12-Consumer/" target="_blank" rel="noopener">According to the National Institute of Health</a>, the daily recommended dose of vitamin B12 is as follows:

The best sources of B12 for vegans — and when to take a supplement

India’s surgical strikes on terror hubs in Pakistan Occupied Kashmir (PoK) region have hurt the business community in Pakistan and feel it will damage the trade ties between the two nuclear-armed nations. 
 
The Pakistani business community was expecting normalised relations with India, who now say they are disappointed. 
 
"Today, we feel it was our mistake to think that there can be good business ties with India. We are dismayed and disappointed by PM Narendra Modi's aggressive policies,” Mian Abrar Ahmed, ex-president of the Karachi Chamber of Commerce and Industry, told ET. 
 
"Even though Pakistan has not given MFN status to India, if you look at bilateral trade, it's about $2 b annually and 80% is in India's favour. Pakistani businessmen still face a lot of barriers when they export to India,” Amin Hashwani, chief executive at the Hashwani Group, told ET. 
 
This comes at a time when India is mulling over revoking the most favoured nation (MFN) status given to Pakistan about 20 years ago. 
 
As per a Peterson Institute for International Economics gravity model study, the trade between India and Pakistan could increase to $42 billion if certain roadblocks were removed, especially the unstable political ties. 
 
"We are neighbours and we should resolve the situation with negotiations. War is never a solution. There may be many difference of opinion, but I think business and art should not be kept separate and civil society and establishment must not target these,” said Dawood Usman Jakhura, director of the Federation of Pakistan Chambers of Commerce &amp; Industry (FPCCI) Pakistan- Malaysia Business Council.

Pakistan business community ‘disappointed’ over India’s surgical strikes on terror hubs in Pakistan

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div><ul><li>Facebook announced Thursday that they'd discovered a "software bug" that caused millions of status updates that were intended to be posted privately among friends to be public.</li><li>The bug affected 14 million users, between May 18 and May 27, according to Facebook.</li><li>The social media told TechCrunch and others that the affected users will be notified and asked to review their posts from that period, but it's unclear how soon that will happen.</li></ul>Facebook announced on Tuesday that millions of users had their privacy settings accidentally changed by a "software bug," letting anyone on the internet read status updates and posts that were intended only for private audiences.&#xa0;The company says that the problem occured between May 18 and May 27, but has since been fixed.&#xa0;Facebook told <a href="https://www.recode.net/2018/6/7/17438928/facebook-bug-privacy-public-settings-14-million-users">Recode</a>&#xa0;that 14 million users may have been affected, and that whose posts were made public incorrectly will be notified. Users have already taken to Twitter to show what the notification looks like:&#xa0;&#xa0;Facebook did not immediately respond to a request for comment.&#xa0;<div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/samsung-chg90-ultra-wide-gaming-monitor-perfect-gaming-2018-5">We tried gaming on the Samsung CHG90 ultrawide gaming monitor</a></h3> <div> </div> </div>

Facebook says it accidentally let anybody read private posts from 14 million users

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div><ul><li>Netflix revealed new images from the third season of its original series, "The Crown."</li><li>One image Netflix released features Helena Bonham Carter as the Princess Margaret, smoking a cigarette and looking quite fabulous.&#xa0;</li><li>Season three is expected to drop on Netflix in 2019.</li></ul>Netflix is quite generous this week, with the release of not only one but three photos from the highly anticipated third season of "The Crown."On Wednesday, Netflix released the first image of Helena Bonham Carter as Princess Margaret. (On Monday, it released the <a href="http://www.businessinsider.com/netflix-released-first-the-crown-image-of-the-olivia-colman-as-queen-elizabeth-ii-2018-7">first image of Olivia Colman</a> as her sister, Queen Elizabeth II.)Netflix revealed the first image of Bonham Cater in a tweet on its official Twitter account for "The Crown":&#xa0;In the image, Princess Margaret is looking fabulous while smoking a cigarette (as usual). Princess Margaret still remains on of the most stylish royals in history, and the image captures the new decade, as she's wearing a winged eyeliner, a make-up trend that became popular in the 60s, which is very different from how Vanessa Kirby was styled in the first two seasons as the same character.Bonham Carter is a two-time Oscar nominee. One of her nominations was for best supporting actress in "The King's Speech," in which she played the Queen Mother, Queen Elizabeth II and Princess Margaret's mother.&#xa0;Shortly after posting the image of Bonham Carter, the Twitter account shared its first image of Ben Daniels as Antony Armstrong-Jones, a photographer Princess Margaret's husband, played by Matthew Goode in season two.&#xa0;Daniels has starred in "Rogue One: A Star Wars Story," "House of Cards," and recently played Pontius Pilate in NBC's live musical, "Jesus Christ Superstar."The third season will star a handful of other veteran British actors. Playing Prince Philip is Tobias Menzies from "Game of Thrones" and more recently, AMC's "The Terror." Stay tuned, because hopefully Menzies as Prince Philip is the next image Netflix releases.&#xa0;"The Crown" season three is expected to come to Netflix in 2019.&#xa0;<div></div><div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-creepy-models-houses-were-made-in-hereditary-movie-toni-collette-2018-6">How the creepy models were made in 'Hereditary'</a></h3> <div> </div> </div></hr>

Netflix released the first image of Helena Bonham Carter looking fabulous as Princess Margaret in season 3 of 'The Crown'

<keyword id="6355478" type="COUNTRY" weightage="80" keywordseo="Australia">Australia</keyword> and <keyword id="22501" type="COUNTRY" weightage="80" keywordseo="New-Zealand">New Zealand</keyword> have joined <keyword id="6355311" type="COUNTRY" weightage="60" keywordseo="Japan">Japan</keyword> in order to persuade India to open its rapidly growing eCommerce sector for foreign investments. These countries want to include the sector in the 16-nation regional trade pact that's being negotiated. 
 

	What’s India’s take on it? It has opposed the pact so far as there is a need to protect the homegrown online retailers. On the other hand, eCommerce companies have sought to get around the restriction on overseas capital by turning themselves into marketplaces that connect vendors with buyers. This has led to protests by brick-and-mortar retailers, who claim that they're facing stiff curbs on taking foreign money. This information was revealed in an Economic Times report. 
	 

	The eCommerce business is likely to reach $300-billion mark by 2030. Meanwhile, companies such as <keyword id="6357395" type="CITY" weightage="80" keywordseo="eBay">eBay</keyword> and <keyword id="18635" type="CITY" weightage="80" keywordseo="Amazon">Amazon</keyword> have been lobbying that the Indian government should open eCommerce to foreign investment. Eyeing huge profits, other countries would also put pressure on India in this regard during June 8-13 talks in <keyword id="56919" type="COMPANY" weightage="80" keywordseo="Kyoto">Kyoto</keyword>. As per the financial daily, member countries aim to conclude the Regional Cooperation and Economic Partnership (RCEP) by the year end. 
	 

	"We firmly back Japan's proposal for a separate chapter on e-commerce," said an Australian government official who didn't wish to be named. "India is a growing economy and eCommerce is proving to be its strength. We are not expecting a very ambitious deal on eCommerce at the moment but let us have a chapter that could be scaled up over the years." There is a rising global interest in India's eCommerce market that <keyword id="6361649" type="CITY" weightage="80" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> says will grow 15-fold from the current $20 billion to $300 billion. It cited "hyper growth in affordable smartphones, improving infrastructure, and a propensity to transact online" as key drivers. India does not allow Foreign Direct Investment (<keyword id="44528" type="ORGANIZATION" weightage="80" keywordseo="FDI">FDI</keyword>) in the business-to-consumer (B2C) segment but 100 % FDI is allowed in business-to-business (B2B) transactions, marking the difference in rules for retail and wholesale. It allows 49% FDI in multi-brand retail but with restrictions. The government is under pressure to come out with a policy on the e-commerce sector in four months as brick-and-mortar retailers have filed a case in the <keyword id="6355014" type="ORGANIZATION" weightage="80" keywordseo="Delhi-High-Court">Delhi High Court</keyword> on the issue. 
	 

	Further, Japan had floated a discussion paper in February to include eCommerce as a separate chapter in the RCEP negotiations. India is not in favour of this. "We have to keep the national interest in mind. We are yet to have an e-commerce policy of our own to sign a deal at the regional level," said an Indian government official. The bloc includes 10 <keyword id="5891" type="ORGANIZATION" weightage="80" keywordseo="ASEAN">Asean</keyword> countries and the six partners with which they have free trade agreements (FTAs), including Australia, China, India, Japan, Korea and New Zealand. 
	 

	Japan had also asked for most favored nation (MFN) status and national treatment to be accorded in the e-commerce sector. Japan has not made a distinction between B2C and B2B, the way eCommerce is regarded globally. 
	 
	(Image: Indiatimes)

You Searched For "mfn" and got 12 results

Indian MMA fighter Angad Bisht to defend Flyweight title on July 1 — All you need to know

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WTO needs to give more space to countries which have something different to say: FM

PTI

I belong to middle class, understand their pressures: Sitharaman before Budget

PTI

The US and G7 allies plan to strip Russia of its 'most favored nation' status, enabling tariffs to be imposed on Russian goods, a report says

Urooba Jamal

India revokes Most Favoured Nation status to Pakistan after Pulwama attack

Dilsher Dhillon

Watchdog group: Biden's top digital officer has financial investments that 'do real harm to the American people'

Kimberly Leonard

Amazon hit with class action antitrust lawsuit claiming it colluded with major publishers to illegally drive up ebook prices by 30%

Tyler Sonnemaker

The best sources of B12 for vegans — and when to take a supplement

Ashley Lyles

Pakistan business community ‘disappointed’ over India’s surgical strikes on terror hubs in Pakistan

BI India Bureau

Facebook says it accidentally let anybody read private posts from 14 million users

Kaylee Fagan

Netflix released the first image of Helena Bonham Carter looking fabulous as Princess Margaret in season 3 of 'The Crown'

Carrie Wittmer

Australia, New Zealand back Japan to bat for FDI in Indian eCommerce sector

BI India Bureau

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