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A number of you wrote in asking to add another 12 months to your subscription during the 40% off Diwali sale. A number of you want to book your Christmas gifts in advance, as well. For all such special requests, just email us at talktous@splainer.in.
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Another bank in trouble
Lakshmi Vilas Bank (LVB) has been put under a moratorium—and the Reserve Bank of India has capped withdrawals at Rs 25,000 per customer till December 16. The reason: “declining financial health” as the company has incurred huge losses for the past three years. And it has no viable strategy to save itself. The RBI now plans to merge the company with the Indian subsidiary of Singapore-based DBS bank. Mint explains why you don’t need to panic over this latest banking debacle.
In other troubling biz news: AirAsia is making noises that indicate it may exit India—and its partnership with the Tatas:
“Our businesses in Japan and India have been draining cash, causing the group much financial stress. Cost containment and reducing cash burns remain key priorities evident by the recent closure of AirAsia Japan and an ongoing review of our investment in AirAsia India.”
Economic Times explains why it's headed for the door.
Planning to opt in: Rupert Murdoch-owned News Corp, which is planning to buy Simon & Schuster—put up for sale by its owner ViacomCBS since March. Point to remember: The company publishes Stephen King and Hillary Clinton—and has put out a string of bestselling anti-Trump titles. (The New York Times)
Akshaya Patra is in trouble
The foundation serves food to over 1.8 million children from 19,039 schools—and has had its share of ISKCON-related controversies. But this latest drama is the most serious. Two key people who helped found the organisation—Mohandas Pai and Abhay Jain—have resigned from the board, as have two other independent trustees. The reason:
“Pai stopped short of alleging financial discrepancies but said that an organization of this stature must have the highest governance and audit practices. Pai said that the two other trustees, who he did not name, started to put more insiders on the trust and started to override the decisions made by the independent trustees.”
Trump-sized threat to world peace
Still in denial over losing the election, the US president appears to be considering a dangerous military strike against Iran’s nuclear facility. The likely reason:
“A strike on Iran may not play well to his base, which is largely opposed to a deeper American conflict in the Middle East, but it could poison relations with Tehran so that it would be much harder for President-elect Joseph R. Biden Jr. to revive the 2015 Iran nuclear accord, as he has promised to do.”
The great pandemic: A quick update
- A new and comprehensive study offers very happy news about long term immunity: “Eight months after infection, most people who have recovered still have enough immune cells to fend off the virus and prevent illness, the new data show. A slow rate of decline in the short term suggests, happily, that these cells may persist in the body for a very, very long time to come.”
- A CNN investigation has revealed nightmarish conditions within Russia. Hospital morgues are packed with bodies—and both the case tally and the death count is a total sham. The official figure: 33,000—but the real number is closer to 130,000. CNN also obtained secret footage from Russian doctors. Watch the report here.
- A Spanish study with less happy news reveals that owning a dog increases the risk of infection by 78%. Even riskier: Ordering home delivery of groceries (94%) 😱. Point to note: This study merely describes its findings from a random sample, and cannot establish cause-effect relationships.
- The Telegraph looks at which of the vaccine candidates will work in India—and how many we have pre-booked so far.
- Indian Express has the story of Fijian Roy Krishna—who endured ten Covid tests, travelled over 40 days and four connecting flights to make it to Goa in time for the Indian Super League (ISL).
- A good read: Mint has a long reported piece on how city hotels are doing their best to survive while nearby resorts enjoy the benefits of ‘revenge tourism’.
- This young man demonstrates what it is like to lose your sense of taste and smell due to Covid—with munching raw onions, and doing shots of lemon juice. Watch him here.
- A shop in Osaka, Japan, is testing a robot that asks customers to mask up and maintain social distance. The Guardian has that story. Check out the robot here.
- Also: The German government released three ads celebrating great Covid heroes, including this one: “The laziest sod to ever roam this country.” See all of them on this thread.
New record at top biz schools
The percentage of women students entering top business schools in the US hit an all-time record this year. Of the top 20 schools, Dartmouth came closest to gender parity, with an incoming class that is 49% female. Close behind: Stanford at 47%. Bloomberg News has more.
Anand Mahindra to restore British pride
Birmingham Small Arms or BSA is an iconic British brand—kinda like our Royal Enfield. Once the largest motorcycle company in the world, it went bankrupt in the 1970s. Anand Mahindra has bought a controlling stake in the company that owns BSA—run by former investment banker Anupam Thareja. And Mahindra is promising to “resurrect the British motorbike industry” and its most famous bike. The Guardian has the story. Below is a quick jaunt through BSA’s glorious history and most famous bikes.
Oppo’s very cool concept phone
This “rolling” phone expands from a 6.7-inch phone screen to a 7.4-inch tablet-like panel. No, it won’t be available on the market anytime soon but it’s still awesome to watch in action. The Verge has more details:
Time for a ‘fake commute’?
As many folks around the world have discovered, working from home = working all the time. And while not sitting in traffic may feel like a blessing, losing that precious transition time comes with its own downside, as mental health experts explain:
“As painful as the commute can be for some, it gave us time to decompress from the workday and prepared us to be present for our loved ones when we got home. Without it, some people are really struggling with turning off work, and they are working into the evening, often very late.”
The solution: Creating a ‘fake commute’ that reclaims the barrier between work and home. Healthline offers seven different ways you can do just that.
One inspirational thing
You don’t have to give a flying eff about baseball to appreciate this story about Kim Ng who is the first woman and Asian American to become the General Manager of a major baseball team, the Miami Marlins.
Rocky goes to London
This is the lovely story of a three-year-old streetie named Rocky in Faridabad. A year ago, she was run over by a train and found on the tracks by local constable Chanderpal Tanwar—who rushed her to the hospital. She almost bled to death, lost her two forelegs, but fought her way back to life. She is now getting ready to fly out to… Cotswolds in the UK to stay with her forever family! The date of departure: today! Check out adorable Rocky in this Zee News report. Or read the Times of India story.