Vodafone-Idea loses revenue in circles where network integration is over, says report

Agencies
August 30, 2019

Mumbai, Aug 30: Telecom operator Vodafone Idea Ltd. has lost revenue share in most of the circles where the merger of the two mobile networks has completed, according to a report by JM Financial.

Vodafone India and Idea Cellular started integration of their networks after completing their merger on Aug. 31, 2018. They have repeatedly expressed confidence of improving performance after their merger and integration of their network.

The report said that during the first quarter of the current financial year, Vodafone Idea saw quarter-on-quarter revenue market share erosion in all circles, except Himachal Pradesh.

“In fact, in the 10 circles where the two mobile networks have been integrated, VIL lost revenue market share in all but one circle; in the remaining 12 circles, VIL’s quarterly RMS loss was generally higher,” the report said.

The highest RMS loss for VIL was observed in the Metro and A circles, specifically Delhi, Maharashtra, Tamil Nadu, Andhra Pradesh and Mumbai.

“VIL has lost its leadership position in Metro circles of Kolkata and Delhi, but has maintained leadership in Mumbai by a large margin. Finally, VIL's RMS (based on gross revenue) continues to be over 50 percent in Kerala circles, but it may drop below 50 percent over the coming quarters,” the report said.

JM Financial said Reliance Jio, which became the largest operator in the country during the June 2019 quarter, gained at the expense of Vodafone Idea and smaller telecom operators.

“On our current outlook (with assumption of a four-player market including state-run telecom firms), we see Jio's RMS moving up to 41-42 percent level in financial year 2021, Bharti Airtel's holding on to 28-29 percent, helped by Tata Teleservices acquisition, and VIL's RMS settling at around 25 percent,” the report said.

Mukesh Ambani-led Reliance Jio surpassed Bharti Airtel and Vodafone Idea in the April-June period as top revenue earner from telecom services at Rs 10,900 crore in three years of commencing commercial operations, according to the latest financial data released by telecom regulator Telecom Regulatory Authority of India.

Bharti Airtel and Vodafone Idea recorded adjusted gross revenue, earned from the sale of telecom services, of Rs 10,701.5 crore and Rs 9,808.92 crore, respectively, during the quarter, showed the data released by the TRAI.

A Bank of America Merril Lynch report has said it believes VIL would exit the six circles in C-Circle where it has been continuously losing revenue market share with share below 20 percent. The report has identified Himachal Pradesh, Bihar, Odisha, Jammu and Kashmir, North East and Assam from where VIL may exit.

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Agencies
January 7,2020

Washington, Jan 7: Facebook will ban deepfake videos ahead of the US elections but the new policy will still allow heavily edited clips so long as they are parody or satire, the social media giant said Tuesday.

Deepfake videos are hyper-realistic doctored clips made using artificial intelligence or programs that have been designed to accurately fake real human movements.

In a blog published following a Washington Post report, Facebook said it would begin removing clips that were edited--beyond for clarity and quality--in ways that "aren't apparent to an average person" and could mislead people.

Clips would be removed if they were "the product of artificial intelligence or machine learning that merges, replaces or superimposes content onto a video, making it appear to be authentic," the statement from Facebook vice-president Monika Bickert said.

However, the statement added: "This policy does not extend to content that is parody or satire, or video that has been edited solely to omit or change the order of words."

US media noted the new guidelines would not cover videos such as the 2019 viral clip -- which was not a deepfake -- of House Speaker Nancy Pelosi that appeared to show her slurring her words.

Facebook also gave no indication on the number of people assigned to identify and take down the offending videos, but said videos failing to meet its usual guidelines would be removed, and those flagged clips would be reviewed by teams of third-party fact-checkers -- among them AFP.

The news agency has been paid by the social media giant to fact-check posts across 30 countries and 10 languages as part of a program starting in December 2016, and including more than 60 organisations.

Content labeled "false" is not always removed from newsfeeds but is downgraded so fewer people see it -- alongside a warning explaining why the post is misleading.

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News Network
February 5,2020

Feb 5: Tesla is making Elon Musk a lot richer without paying him a dime.

A blistering stock rally has bolstered the value of CEO Musk's 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion.

Tuesday's steep climb in the share price could sweeten Musk's payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion.

The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.

Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018.

That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co  and BMW.

Tesla shares have climbed about 400% since early June, helped by the company's better-than-expected financial results and ramped-up production at its new car factory in Shanghai.

On Tuesday, Tesla surged as much as 24% before falling back in the final minutes of the trading session to end the day up 13.7%. That put its market capitalization at $160 billion, almost twice the combined value of Ford Motor and General Motors.

The shares had also rallied on Monday, partly fueled by Panasonic Corp's 6752.T saying its automotive battery venture with Tesla was profitable for the first time.

The options Musk was awarded in 2018 vest incrementally based on targets for Tesla's stock market value and its financial performance. The market capitalization would have to sustainably rise by $50 billion increments over the agreement's 10-year period, with the full package payout reached if the market cap reaches $650 billion, as well as the company's meeting revenue and profit targets.

Musk is on his way to seeing his first two tranches of options vest. He achieved operational targets on revenue and adjusted earnings last year.

The rise in Tesla's market capitalization last month to a target of $100 billion opened the way for Musk's first tranche of options to vest. With Tuesday's surging share price, the market capitalization blew past the second target of $150 billion, opening the way for the second tranche to vest. Tesla's market capitalization must stay at or above each target level for one- and six-month averages for each set of options to vest.

Tesla was valued at about $52 billion when shareholders approved the pay package in March 2018, a time when the company faced a cash crunch, production delays and increasing competition from rivals.

A full payoff for Musk would surpass anything previously granted to U.S. executives, according to Institutional Shareholder Services, a proxy advisor that recommended investors reject the pay package deal at the time.

Musk currently owns about 34 million Tesla shares, and his compensation package would let him buy another 20.3 million shares if all his options tranches vest.

When Tesla unveiled Musk’s package, it said he could in theory reap as much as $55.8 billion if no new shares were issued. However, Tesla has since awarded stock to employees and last year sold $2.7 billion in shares and convertible bonds, diluting the value of the stock.

Musk has transformed Tesla from a niche car maker with production problems into the global leader in electric vehicles, with U.S. and Chinese factories. So far it has stayed ahead of more established rivals including BMW and Volkswagen.

Many investors remain skeptical that Tesla can consistently deliver profit, cash flow and growth. More Wall Street analysts rate Tesla "sell" than "buy," and the company's stock is the most shorted on Wall Street.

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Agencies
February 29,2020

Ahmedabad, Feb 29: The presence of two feral pigeons onboard a GoAir flight at the airport in Ahmedabad in Gujarat created a flutter among the amused passengers, even though the avian surprise did not lead to any untoward incident or delay in the flight.

The incident took place on Friday when the passengers were boarding the Ahmedabad-Jaipur flight.

"Two pigeons had found their way inside the flight G8 702 while the passengers were boarding," an airline statement said on Saturday.

"The crew immediately shooed away the birds. The flight took off at its scheduled time at 5 p.m.," it added.

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