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- Bit by Bit 4th November || Netflix launches ad-supported subscription || Profits margins shrinks for Adani Wilmar & More
Bit by Bit 4th November || Netflix launches ad-supported subscription || Profits margins shrinks for Adani Wilmar & More
Good Afternoon! “Friday afternoon feels like heaven.” —El Fuego
So, here are:
" 4 amazing stories in 4 minutes, because why not?"
Happy reading!
MARKET UPDATE
NIFTY 50 : ₹18,052.7 (-0.17%)
BSE SENSEX : ₹60,836.41 (-0.11%)
NIFTY BANK : ₹41,298.35 (+0.37%)
USD/INR : ₹82.68 (-0.06%)
BRENTOIL : $95.35 (+0.72%)
MCXGOLD : ₹50,164 (-0.87%)
FII Net Cashflow : + ₹678 crores
DII Net Cashflow : - ₹732 crores
(Markets data as of 11:00 PM on 3/11/2022)
ECONOMY
The Story:
A recent global analysis by consulting, broking, and solutions company WTW, The 2022 WTW Global Gender Wealth Equity report, indicated that women are often projected to retire with only 74% of the wealth amassed by males.
Regarding gender wealth fairness, Asia Pacific has one of the lowest global wealth inequalities. Women are predicted to amass just over 76% (76%) of men's wealth levels in the APAC area, two points higher than the global average.
India has the highest gender wealth gap in APAC, at 64%. According to the report, one of the causes of this may be the country's significant gender pay discrepancies, which are more than the global norm, particularly for professional and technical professions.
According to the study, seniority generally widens the gender wealth disparity at retirement. Less than two-thirds (62%) of the retirement wealth that their male counterparts experienced globally was discovered to be accumulated by women in senior expert and leadership roles. The disparity was still wide (69% for mid-level professional and technical occupations) but much less (89% for front-line operational functions).
China (78%), Japan (82%), the Philippines (79%) and Singapore (79%), four of the six markets included in the survey, had wealth indexes at retirement for women that are higher than the worldwide average.
The analysis comes after the World Economic Forum (WEF) and WTW collaborated earlier this year to publish preliminary findings regarding the wealth disparity.
TECH
Key facts:
Netflix Basic will be priced at $6.99
Netflix stock price has dropped around 59% in the last year
Netflix basic will be available in 12 countries
The Story:
The streaming giant has announced that it will offer its services with an ad-supported model which will start at $6.99.The new plan is called Netflix Basic, in this plan, there will be around 4-5 ads per hour of length 15-30s. There are similar plans already available from HBO Max, Hulu, and Peacock (which also offers a free ad-supported tier), and soon Disney+ will join their ranks
The streaming giant lost around 977 thousand subscribers in the quarter ending on June 30 to retain the subscribers it has started offering this service. Only 12 countries, not including India, are now receiving this new Netflix membership. However, according to Netflix's official site, the program will eventually be extended to more nations. There is a possibility that this Netflix Basic with Ads subscription will become available to Indians in the future.
FMCG
The Story:
The share price of Adani Wilmar fell by 2 percent after the FMCG company posted a 73.3 percent on-year decline in consolidated net profit. The company's post-tax profit came in at Rs 48.7 crore in the quarter that ended September 2022 as against Rs 182.3 crore in the same quarter last fiscal.
For the quarter, the company posted a 4.4 percent rise in revenue from operations at Rs 14,150 crore against Rs 13,558 crore in the year-ago period. "Despite the challenging external environment, we have registered a strong volume growth of 9 percent in the high single digits in Q2FY23, riding on the growth in the Food & FMCG segment and Industry Essentials," the company said.
However, earnings before interest, taxes, depreciation, amortization, or EBITDA declined 40 percent YoY to Rs 254.5 crore, while margins contracted to 1.8 percent from 3.3 percent in the same quarter last fiscal year.
Sharp fall in palm oil, soyabean oil, and sunflower oil left most players with a high-price inventory. The company also passed on the benefit of lower prices to the consumers. The company said this and currency depreciation impacted margins during the quarter.
Want a BIT More?
The Story:
The phrases race and ethnicity can occasionally be used carelessly or even synonymously. Race and ethnicity, however, are distinct concepts.
Although they are connected, both phrases are used to define human identity in distinct ways. Identity issues may include considerations about one's race, ethnicity, language, religion, cultural practices, or heritage. Many of these characteristics fall under the categories of race and ethnicity. Nina Jablonski, an anthropologist and paleobiologist at The Pennsylvania State University, remarked that "'race' and "ethnicity" have been and are still used to define human diversity. "Race is understood by most people as a mixture of physical, behavioral and cultural attributes. Ethnicity recognizes differences between people mostly on the basis of language and shared culture."
Despite the fact that race and ethnicity are mostly conceptual, real-world influences are still very much present. These ideas have "immense power over how civilizations function".
