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1. In startups space in India, unicorns or cockroaches, you are going to see plenty of action, says Anand Mahindra: Large corporations, and not necessarily reputed tech schools like IITs or MIT, are the new startup garages as big businesses race to stay relevant, Mahindra Group Chairman Anand Mahindra has said. "The new garage is not necessarily in the MIT or Stanford or the IITs. It is in fact, back in large companies. The cycle has turned, where large companies are not turning obsolete," Mahindra said. Large corporations are emulating startup ecosystems within themselves, he added. "In a sense, what we are doing is putting up a Silicon Valley inside a company," added Mahindra. Terming the domestic startup ecosystem as "extremely robust", Mahindra said even though it trails the US and Israel at present, India is set to become the "hottest startup spot in the world. You are only going to see more action. Whether it is about unicorns or cockroaches, you are going to see plenty of action". (Reuters)
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2. Lucknow Metro shuttering collapses; 8 hurt, no loss of life: Eight labourers were injured, one of them seriously, when a shuttering between two under-construction pillars of Lucknow metro, a flagship project of Chief Minister Akhilesh Yadav, collapsed here today. He said eight workers were at the site when the incident occurred and all of them were taken out and rushed to a hospital. The mishap took place hardly two weeks after a heavy slab of concrete fell on a car during metro construction when a two-inch screw came off a shuttering here. The incident also triggered panic as it came a fortnight after a flyover collapse in Kolkata, which left 26 people dead. (PTI)
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3. Vijay Mallya salary is Rs 1.7-cr from US brewery firm: Beleaguered liquor baron Vijay Mallya has got a pay package of over Rs 1.7 crore last year from his US-based brewery firm that itself is struggling for funds and has been served 'default' notices by lenders. More than half of Vijay Mallya's total salary for 2015 has been paid by California-based Mendocino Brewing Company Inc to him for "promoting" the company's beer brands. Mallya serves as Chairman of the board of directors of the company, which has an exclusive licence to brew and distribute Kingfisher Premium Lager in various countries. United Breweries Holdings Ltd (UBHL), the holding firm of Mallya-led UB Group, is the "indirect majority shareholder" of Mendocino Brewing Company (MBC). "Vijay Mallya, Chairman of the Board, is paid USD 120,000 per year by MBC for services rendered as Chairman, and 89,600 British pound per year (approximately USD 136,900) by UBIUK for promoting our products in the Foreign Territory outside the United Kingdom," it said.
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4. Newspaper reporter listed the worst job for third time: survey: For the third year in a row, the job of a newspaper reporter has been ranked as the worst profession, according to a survey which listed data scientist as the best job after a review of 200 careers. CareerCast, a jobs website, ranked each job in its 28th annual Jobs Rated report taking into account the environment, income, outlook and stress associated with each job. The survey put the annual median salary of a print reporter at USD 37,200. "A gradual decline in print publications at the turn of the century became a steep downturn for the past decade. Publications folding mean far fewer job prospects, and declining ad revenue means unfavorable pay for those in the Fourth Estate," the survey said. (Reuters)
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5. Haryana to go kerosene free from next year, says CM M L Khattar: Haryana Chief Minister Manohar Lal Khattar announced that the state will be made kerosene free next year. "For this, gas (LPG) cylinders will be given to every household and families using kerosene for cooking will be given gas chullahs so that they do not have to cook amid smoke from wood or kerosene," he said while addressing a 'Mewat Vikas Maharally' at Chandraka village in Mewat. Khattar also accused the previous Congress regime of not being serious about the development of Mewat. "During Congress rule, not even a single meeting of Mewat Development Authority (MDA) was held which shows their callous attitude towards the development of the area. On the other hand, after BJP took over, two meetings of MDA have already been held," he said. (PTI)
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6. AAP govt warns Uber, Ola over pricing: In the wake of a strike called by a section of auto and taxi unions in the national capital on Monday, the Aam Aadmi Party (AAP) Delhi government said it would take strict action to prevent "arbitrariness" by app-based taxi operators causing hardship to commuters. "Ola and Uber will have to follow rules. If we receive complaints against arbitrariness of any app-based taxi service, we will impound their vehicles," Rai said. Commuters can register complaints against arbitrariness or exorbitant fares at 011-42400400, he said. The strike called by the unions in protest against the "illegal operation" of app-based taxi services, will add to the woes of commuters as offices, schools and other institutions will open after an extended weekend for the first full working day in the second phase of odd-even scheme.
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7. Six Maruti Suzuki models make it to top-10 list in 2015-16: Country's largest carmaker Maruti Suzuki India tightened its grip in terms of best selling cars with six of its models featuring in the the top-10 list for the just concluded fiscal. The company, which had five models in top-10 selling cars in 2014-15, saw compact model Celerio enter the list at the seventh position in 2015-16. Besides, volume share of the company in top-10 models has shot up to 73 per cent with six of its models accounting for 10,29,639 units out of a total of 14,19,768 units sold in the fiscal. The company's volume share in top 10 stood at 68 per cent in 2014-15 with sales of 9,12,415 units. As per the data, the company's Alto, Dzire, Swift and WagonR were the first, second, third and fourth biggest selling models during the fiscal. (Reuters)
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8. Vijay Mallya group denies he diverted loan money to buy property abroad: Embattled liquor baron Vijay Mallya's UB Group today "strenuously denied" the allegation by the Enforcement Directorate that he siphoned off nearly Rs 430 crore from the loan extended to Kingfisher Airlines by IDBI bank for acquiring property abroad. Rejecting the charge that he diverted Rs 430 crore for purchase of an overseas property from the Rs 950 crore IDBI loan to his now defunct Kingfisher Airlines, the group said he would provide full details of foreign exchange remittances in the next few days. It said the audited accounts of Kingfisher Airlines show that the money was borrowed for legitimate business purpose and that the allegation was "shocking". (Express photo)
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9. Baba Ramdev's Patanjali Yogpeeth plans two units in MP, reveals Acharya Balkrishna: Baba Ramdev's close aide Acharya Balkrishna today visited Agar-Malwa and Dhar districts of Madhya Pradesh looking for a location to set up two units under Patanjali Yogpeeth. Balkrishna, who scouted the areas in a helicopter, told reporters "they have plans to set up a food processing unit and a cow research centre in Madhya Pradesh". He, along with top government officials, visited Agar-Malwa and two other places in Dhar district. "We have plans to set up a food processing unit and a cow research centre in MP. The proposed ventures will run into crores," Balkrishna told reporters at Agar-Malwa, adding that India is a home to 58 breeds of cows.
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10. Providing drinking water, first priority of govt, says Maharashtra CM: Devendra Fadnavis justified the move to impose a 20 per cent cut in water supply for breweries and distilleries in Aurangabad area, saying his government's "first priority" is to provide water for drinking. "The government's first priority is to give water for drinking purpose not to wine factories. I have directed the divisional commissioner and collector to cut water to breweries and distilleries," Fadnavis said. Faced with acute water shortage, Aurangabad authorities in parched Marathwada region yesterday announced 10 per cent cut in water supply for the industrial units and 20 per cent for breweries and distilleries in the industrial area. The CM conceded that the situation in Marathwada region is grim.
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