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Outlook for April-June quarter GDP amid Covid

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Crowds are seen shopping during a weekly market in Kandivali.

SOPA pictures | LightRakete | Getty Images

India is expected to see double-digit growth in the three months to June – but economists warn that the data does not give the full picture of the country’s growth path.

South Asia’s largest economy on Monday released fourth quarter GDP data showing 1.6% year-over-year growth, mainly driven by government spending and manufacturing growth. For the year as a whole, GDP is expected to decline by 7.3%, compared to growth of 4% in the previous year.

India has been battling a devastating second wave of the coronavirus since February, which accelerated in April and peaked in early May. The infection forced most of India’s developed nations to take localized lockdown measures to slow the spread of the virus.

“With the existing locks, we assume that the economy will tend to slow down in the future,” said Madan Sabnavis, chief economist at Care Ratings, on CNBC’s “Street Signs Asia” on Tuesday.

“The numbers we get for the first quarter of fiscal 2022 – the quarter that ends in June – can be very misleading,” he said. India’s fiscal year starts in April and ends in March of the following year.

On a (a) sequential basis we will see a double digit decrease in seasonally adjusted data, but you will see strong double digit growth year over year.

In the April-June quarter of last year, the economy contracted 23.9% when a month-long national lockdown hit the country. Economists argue that the reported prior-year figure is likely to show double-digit growth for the current quarter, but the strong figure is due to the low base from last year’s negative pressure.

“On a (a) sequential basis we will see a double-digit decline in seasonally adjusted data, but you will see strong double-digit growth year-over-year,” Radhika Rao, an economist with DBS Group in Singapore, told Squawk Box Asia on Tuesday from CNBC.

“That’s because it was down 24% at the same time last year,” she added.

However, experts agree that the economic impact of the second wave may not be as severe as it was last year. India has so far avoided another national lockdown, allowing states to implement local shutdowns instead. Economists agree that the country is generally on track to revive growth, but with a delay.

The data likely shows that consumption sequentially lost momentum this quarter due to the second wave as households had to prioritize their hospital and medical expenses, Rao said.

“So domestic demand, which is the main component of growth, is not going to look that good. There are also high-contact services, most of which have been closed, “she said, adding,” Now only until June, some states are starting to talk about reopening. But it is certainly a very staggered and very unpredictable path in terms of lifting the restrictions. “

Many economists have trimmed their full fiscal 2022 growth projections for India. Goldman Sachs, for example, cut its forecast for real GDP growth for the full year from 11.1% to 9.9%.

Tips on how to Discover the Greatest Costs On-line Utilizing Microsoft Edge

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Microsoft’s Edge browser has become a major competitor to Google Chrome, offering users a similar browsing experience that (mostly) exists outside of Google’s tracking and advertising infrastructure and requires fewer resources. One of the enduring benefits of Chrome, however, is the built-in Google Shopping tools on desktops and mobile devices that make it easy for you to shop online at the lowest prices – but Microsoft is steadily closing the gap with the introduction of the Edge Chromium version 91 update. This update adds two new shopping features for desktop users: a built-in price tracker and Bing Rebates integration.

While there are many third-party price tracker add-ons available for Edge, the Microsoft browser can now natively view a product’s price history while you shop online. To access it, open a product page at an online retailer, then click the blue price tag icon that you see at the end of the URL bar. This will open up the Edge Price Tracker, which will show you a graph showing how much the item has sold in the past and how the current price compares. You can also use the “Compare with other retailers” button to see what the item costs on other websites.

The menu also alerts you when online coupons or other discount codes are available, or if the purchase qualifies for the Bing Discount Program, which you can use when shopping through the Bing.com Shopping tab or in select online Shops receive cashback rewards. You must Sign in and activate Bing discounts and be signed in to Edge with a Microsoft account when you make your purchase to use the program.

The new online shopping features are available in the Edge 91 update, which also offers several other features and updates, including the Sleeping Tabs feature that increases memory savings by up to 82 percent, new browser theme colors, and a revised New -Tab page with advanced personalized content recommendations. Go to Settings> About Microsoft Edge to download the update or do a fresh install of Microsoft download page.

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Digital currencies are the longer term for Russia, says the top of the central financial institution

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A man on the phone walks past the headquarters of the Central Bank of Russia in downtown Moscow on March 19, 2021 while the Russian flag flies.

KIRILL Kudryavtsev | AFP | Getty Images

As the economy moves online, digital currencies will be the future of financial systems, according to Russia’s central bank governor Elvira Nabiullina.

There is a need for fast, cheap payment systems, and central bank digital currencies can fill that void, she told CNBC’s Hadley Gamble in an exclusive interview.

“I think it’s the future of our financial system because it correlates with this evolution of the digital economy,” she said.

Moscow published a consultation paper on a digital ruble in October and aims to have a prototype ready by the end of 2021. Pilots and tests could begin next year, Nabiullina said.

“We’re going to take it step by step because it is [a] very difficult, technological, legal … project, “she said.

Central bank digital currencies are not the same as cryptocurrencies like Bitcoin. They will be issued and controlled by authorities, and the value of one digital ruble will be equivalent to one cash ruble, the Bank of Russia said last year.

Until last year, cryptocurrencies were illegal in Russia and still cannot be used for payments.

Read more about cryptocurrencies from CNBC Pro

Many central banks around the world are developing sovereign digital currencies, which proponents say could promote financial inclusion and facilitate cross-border transactions.

But Nabiullina predicts that there will be challenges in finding “common solutions” between systems that have been independently developed by different countries.

“If every bank can do it [its] own system, technological systems with local standards, it will be very difficult to make connections between these systems in order to facilitate all cross-border payments, “she said.

Against US sanctions

Nabiullina also commented on US sanctions, which she described as an “ongoing risk” for Russia.

Washington has imposed sanctions on Russia over the years for a variety of reasons, from alleged poisoning against opposition politicians to alleged election meddling and cyberattacks.

“That is why our monetary policy, as well as fiscal policy and overall macroeconomic policy, are quite conservative,” she said.

Moscow’s reserves are “quite large to withstand any financial or geopolitical scenario” and are likely to be more diverse than other countries’ reserves, she said.

“De-Dollarization” is part of a comprehensive policy for dealing with foreign currency risks, said Nabiullina.

However, experts say Russia is gradually moving away from using the US dollar to protect itself from the effects of sanctions that all companies using the currency can target.

In 2019, Anne Korin, co-director of the Institute for the Analysis of Global Security, told CNBC that there was a “growing club” of “very powerful” players who wanted to undermine the importance of the greenback.

China, Russia and the European Union have a strong “motivation to de-dollarize,” she said at the time.

Nabiullina said she sees a trend towards countries with more diversified international reserves, but that is likely to slowly shift.

“It will happen, but not very quickly,” she said.

Why you need to measure your “pinch” of salt

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Illustration for the article titled The Case for the Actual Measurement of Your 'Pinch' of SaltPhoto: Edgar BJ (Shutterstock)

Similar to chemistry, “good” cooking is about consistent, reproducible results that normally (at least at the beginning) require some measurements. The more you cook, the less you need to measure – but it’s always best to arm yourself with more knowledge rather than less.

That’s all to say I think you should measure your “pinch” of salt when a recipe calls for you. I know this sounds a little fussy, but this knowledge could come in handy down the line. For one thing: not every finger can absorb the same amount of salt, and a pinch of my small, stocky fingers probably does not mean a pinch of long, elegant finger joints.

If you’ve ever had to sprinkle a certain amount of salt over a specific area of ​​meat to dry it, this information will come in handy. For example, I know that my two-finger pinch swallows about 1/5 of a quarter teaspoon of fine sea salt. So if I want to spread 1/2 teaspoon of salt over a steak or chop, I know I need about 10 pinches that I can confidently grab straight from my salt cellar, eliminating the need for measuring spoons.

Knowing how much salt is in a pinch is also helpful when scaling up. Let’s say you happen to make a quarter cup of a real tapping vinaigrette; You know it took two pinches of salt to make it pop, and you know your pinch is about 1/16 of a teaspoon. The next time you make this dressing, you can get more out of it by using this familiar variable to ensure your recipe scales efficiently. (For example, if you want to make 2 cups of dressing, you know you will need a whole teaspoon of salt.)

You can also measure your pinch by mass (which Kenji at Serious eats does), but you need a fancy kitchen scale for that. Instead, I like to write down how many pinches it takes to fill 1/4 teaspoon and then do my calculations from there. It’s pretty picky – but sometimes a hassle can make your life a little easier.

Botched Docs create a stomach button after a traumatic tummy tuck

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“When I hear that kind of story I think the surgeon cut it out and didn’t notice and he apologizes,” added Dubrow. “Making a belly button is one of the most difficult tasks in all of plastic surgery.”

Dubrow hoped there was a navel under Maritza’s skin graft. After a consultation in a bikini, Dubrow reiterated how difficult the operation would be for Maritza. “This is complicated to fix. This very complication that happened to you could happen to us because I have now beaten damaged tissue,” said Dubrow, before asking Maritza to fill out a special informed consent form for high-risk surgery.

But Maritza is more than ready to go under the knife again. “I hope I have this life without that,” she told the camera. “I’m just desperately looking for a fresh start in my new single life and I feel safe in my own skin.”

Everybody collects cash on the identical time

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Hello and welcome back to Equity, TechCrunch’s venture capitalist podcast where we reveal the numbers behind the headlines.

This is Equity Monday Tuesday, our weekly kick-off that keeps track of the latest private market news, talks about the week ahead, examines some of the recent funding rounds, and thinks about a bigger topic or narrative from the private markets. You can follow the show on Twitter here and me here.

We’re back from a long weekend here in America. But no break here in the states can stop the flow of global tech news. So here is the overview:

Welcome back America this week. It’s nice to see you, everyone else. Maybe Robinhood will be in touch this week.

Equity drops every Monday at 7:00 a.m. PST, Wednesday and Friday at 6:00 a.m. PST, so subscribe to us on Apple Podcasts, Overcast, Spotify, and all the cast!

Must you be involved that the “doubtlessly harmful” asteroid is flying previous Earth at the moment?

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Illustration for the article titled Should You Worry About the Photo: Dima Zel (Shutterstock)

Today, even if you find it hard to focus on work after the long weekend that you hopefully enjoyed, a giant space rock screams through space at a “potentially dangerous” distance from Earth. The likelihood of a resulting Armageddon is (and always has been) extremely low, as the 2021 asteroid KTI is reported to fly within 4.5 million miles of Earth NASA’s Jet Propulsion Laboratory. But on a galactic scale, such a distance is still pretty close, given the vast, spreading unknowns of the universe.

Even so, it is cold comfort to know that technically everything is fine, even with our space agency tracking a huge piece of rock hurtling at 40,000 miles per hour into “potentially dangerous” proximity to our fragile planet.

How big is the asteroid 2021 KTI?

On the large scale of asteroids – this is a terrible thing food for thought – it’s not that big technically, but that’s only when compared to other free-roaming space rocks that easily dwarf the tallest buildings on the planet.

For comparison: the asteroid known as 2021 CTI is roughly the size of the Eiffel Tower or Seattle’s Space Needle. That’s still pretty big, especially when you picture the Eiffel Tower hurtling towards Earth at 40,000 MPH. CTI will be followed by a few more asteroids, none of which are quite that large, but which are all likely to pass us harmlessly on or before Wednesday without penetrating into the atmosphere of our planet.

Even so, all of these asteroids are technically classified as Objects near the earth (NEOs), which NASA defines as:

An asteroid or comet whose orbit places it in or through a zone between approximately 91 million and 121 million miles (195 million kilometers) from the Sun, meaning that it is within approximately 30 million miles (50 million kilometers) of Earth orbit can fly by.

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How often do asteroids actually have contact with Earth?

Asteroids vary considerably in size and thus also in the severity of their impact on Earth. According to NASA, smaller asteroids, “several meters in size, are discovered several times a month between the earth and the orbit of the moon,” while even smaller meteoroids (less than a meter) come into daily contact with solid ground. These aren’t the space rocks to worry about; there are larger, more worrying asteroids catapulting through the cosmos. On the plus side, none (that we know of) will pose a risk to humanity for at least 100 years, the space agency claims.

Or, as the space agency says:

The highest risk of impact for a known asteroid is a 1 in 714 chance of impacting an asteroid named 2009 FD in 2185, which means that the probability that it could hit is less than 0.2 percent.

It is a very good thing that asteroids do not hit Earth with human regularity. For more than forty years it has been the prevailing wisdom among paleontologists and researchers that the dinosaurs were wiped out by an asteroid that struck the earth. The impact was enough to wipe out the predominant species on the planet, with the exception of the avian dinosaurs.

Needless to say, a massive asteroid impact would likely lead to some sort of global catastrophe, if not the end of human civilization as it currently exists – but as long as NASA isn’t worried, you shouldn’t worry either.

Jay Cutler shares how he and Kristin proceed to place their kids “first”

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Jay Cutler is exactly where he wants to be.

Four years after retiring from the NFL, the former quarterback is planning the next phase of his career. Like Jay E! News in an exclusive conversation while promoting its new meat subscription CUTS: There’s a reason it took the Very Cavallari alum so long to come up with a game plan.

“For me,” said the 38-year-old, “it was very important to me to get out of football and then to take a little time to find out exactly what and with whom I want to get involved. I’ve been playing soccer since I was 5 or 6 years old so it really has been my entire focus for most of my life. I really didn’t have a Plan B, so I wanted to make sure my next pair of things to do were things I loved to do and long lasting. “

For more from Jay, including the latest on Ex parenting Kristin Cavallari and his personal advice to other professional athletes Aaron Rodgers, read our interview below!

Zoom (ZM) end result Q1 2022

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Zoom Video Communications Inc. founder and CEO Eric Yuan on the company’s IPO on the Nasdaq MarketSite in New York, April 18, 2019.

Victor J. Blue | Bloomberg | Getty Images

Zoom reported better-than-expected results on Tuesday with sales growth of 191%. The stock rose 1% in extended trading after initially falling as much as 5% on concerns about a looming slowdown.

This is how the company did it:

  • Merits: $ 1.32 per share, adjusted, down from 99 cents per share analyst expects, Refinitiv said.
  • Revenue: $ 956.2 million versus $ 906.0 million as analysts expected, Refinitiv said.

Revenue for the quarter ended April 30th rose from $ 328.2 million a year earlier, according to a statement. Revenue rose 369% in the previous quarter as the company lapped the coronavirus pandemic outbreak in the United States, which brought in millions of new users.

Zoom expects adjusted earnings per share of $ 1.14 to $ 1.15 on revenue of $ 985 to 990 million for the second quarter. Analysts polled by Refinitiv had expected adjusted earnings of 94 cents per share and sales of $ 931.8 million.

For the full 2022 fiscal year, Zoom now sees adjusted earnings per share of $ 4.56 to $ 4.61 and revenue of $ 3.98 billion and $ 3.99 billion. Analysts polled by Refinitiv were looking for adjusted earnings per share of $ 3.76 and revenue of $ 3.8 billion.

Zoom said its Zoom Phone product, which includes cloud-based phone services as well as video calling and other features, had 1.5 million seats at the end of April, up from 1 million in January.

Zoom’s stocks have fallen about 3% since early 2021, while the S&P 500 index has risen nearly 12% over the same period.

During the quarter, Zoom announced improvements to its Zoom Rooms offering for meeting venues and a $ 100 million venture capital fund.

Executives will discuss the results with analysts in a Zoom call starting at 5:00 p.m. Eastern Time.

This is the latest news. Please try again.

CLOCK: Zoom COO Aparna Bawa on the hybrid work environment

US begins examine to check mix-and-match Covid vaccine doses

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A healthcare doctor prepares a dose of Johnson & Johnson’s Coronavirus Disease (COVID-19) vaccine for a commuter during the opening of MTA’s public vaccination program on the 179th Street subway station in the Queens borough of New York City in front. USA, May 12, 2021.

Shannon Stapleton | Reuters

The National Institutes of Health announced Tuesday that they had started an early-stage clinical trial looking into what happens when an adult fully vaccinated with a type of Covid-19 vaccine like Pfizer’s is boosted with another vaccination about three to four months later.

The study will enroll approximately 150 adults who have received any of the three Covid vaccination regimens currently available under the Food and Drug Administration’s emergency approval: Johnson & Johnsons, Moderna, or Pfizer.

Federal health officials said people who have not yet received an approved vaccine are also eligible to enroll in a separate group for the study. These volunteers will receive two doses of the vaccine from Moderna and will receive a booster dose of one of the three vaccines around 12 to 20 weeks later, officials said.

“Although the vaccines currently approved by the US Food and Drug Administration offer strong protection against COVID-19, we must prepare for the possibility that booster vaccinations will be required to counter declining immunity and step up with an evolving virus said Dr Fauci, director of the National Institute of Allergy and Infectious Diseases, a member of the NIH.

“The results of this study are intended to inform public health policy decisions about the potential use of mixed vaccination schedules in the event that booster doses are indicated,” he added.

The study is taking place as drug makers and some scientists are now saying that people will likely need a booster dose of the Covid-19 vaccines and possibly additional vaccinations every year, just like they did with seasonal flu.

Pfizer and Moderna’s Covid-19 vaccines currently require two doses three to four weeks apart, while Johnson & Johnson vaccines only require one prick. All three vaccines have been shown to be highly effective against Covid, although company executives now expect this strong protection to wear off over time.

Dr. Peter Marks, director of the FDA’s Center for Biologics Evaluation and Research, said last month that Covid-19 booster vaccinations could be required for fully vaccinated individuals within a year.

“So, hopefully, you know, it would be nice if it turned out it would be a year before someone needed a refresher,” said Marks on the 18th of school and junior journalists.

“But we still don’t know,” he added. “It could be more, it could be a little less, but … that’s just something we need to find out over time.”

Each vaccine group in the NIH study will enroll about 25 people ages 18 to 55 and about 25 people ages 56 and older.

Twelve to 20 weeks after their initial vaccination, participants in the study will receive a single booster dose of the Moderna vaccine.

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