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| Facebook Invests $5.7 Billion in Indian Internet Giant Jio | Facebook Invests $5.7 Billion in Indian Internet Giant Jio |
| (about 20 hours later) | |
| SAN FRANCISCO — Facebook on Tuesday made its largest single investment by putting $5.7 billion into Jio Platforms of India, an enormous bet on the developing market and a sign of how large tech companies are forging ahead in the pandemic. | SAN FRANCISCO — Facebook on Tuesday made its largest single investment by putting $5.7 billion into Jio Platforms of India, an enormous bet on the developing market and a sign of how large tech companies are forging ahead in the pandemic. |
| Jio Platforms is a subsidiary of Reliance Industries, one of India’s biggest multinational companies and a major provider of cellular and internet services in the country. The investment, which requires approval from competition regulators, would give Facebook a 9.99 percent stake in Jio Platforms, Jio said. | Jio Platforms is a subsidiary of Reliance Industries, one of India’s biggest multinational companies and a major provider of cellular and internet services in the country. The investment, which requires approval from competition regulators, would give Facebook a 9.99 percent stake in Jio Platforms, Jio said. |
| Facebook said the move indicated its commitment to India. More than 388 million people in India have been connected to the internet over the past four years through Jio, Facebook said. | Facebook said the move indicated its commitment to India. More than 388 million people in India have been connected to the internet over the past four years through Jio, Facebook said. |
| “The country is in the middle of a major digital transformation, and organizations like Jio have played a big part in getting hundreds of millions of Indian people and small businesses online,” Mark Zuckerberg, Facebook’s chief executive, said in a post to his Facebook page announcing the deal. “With communities around the world in lockdown, many of these entrepreneurs need digital tools they can rely on to find and communicate with customers and grow their businesses.” | “The country is in the middle of a major digital transformation, and organizations like Jio have played a big part in getting hundreds of millions of Indian people and small businesses online,” Mark Zuckerberg, Facebook’s chief executive, said in a post to his Facebook page announcing the deal. “With communities around the world in lockdown, many of these entrepreneurs need digital tools they can rely on to find and communicate with customers and grow their businesses.” |
| Facebook is moving forward with strategic investments at a fragile time in the global economy. While many businesses have been hurt by the fallout from the coronavirus pandemic, large technology companies are positioned to benefit in the long run as more people turn to their services while sheltering indoors. Companies such as Apple, Alphabet and Facebook all have financial muscle to ride out a difficult period. | Facebook is moving forward with strategic investments at a fragile time in the global economy. While many businesses have been hurt by the fallout from the coronavirus pandemic, large technology companies are positioned to benefit in the long run as more people turn to their services while sheltering indoors. Companies such as Apple, Alphabet and Facebook all have financial muscle to ride out a difficult period. |
| Facebook sees plenty of opportunity with Jio. India is a large market for Facebook; more than 400 million people in the country use WhatsApp, its global messaging service, while more than 300 million people use the company’s core social network. | Facebook sees plenty of opportunity with Jio. India is a large market for Facebook; more than 400 million people in the country use WhatsApp, its global messaging service, while more than 300 million people use the company’s core social network. |
| Facebook has historically not made as much money from each user in Asia as it does elsewhere. But the company hinted that the new partnership could change that. WhatsApp has worked for years to build tools for small businesses and has dabbled in payment systems, while Facebook has also invested in creating digital storefronts for entrepreneurs to sell goods and services online. | Facebook has historically not made as much money from each user in Asia as it does elsewhere. But the company hinted that the new partnership could change that. WhatsApp has worked for years to build tools for small businesses and has dabbled in payment systems, while Facebook has also invested in creating digital storefronts for entrepreneurs to sell goods and services online. |
| “By bringing together JioMart, Jio’s small-business initiative, with WhatsApp, we can enable people to connect with businesses, shop and ultimately purchase products in a seamless mobile experience,” said a statement by David Fischer, Facebook’s chief revenue officer, and Ajit Mohan, Facebook’s managing director in India. | “By bringing together JioMart, Jio’s small-business initiative, with WhatsApp, we can enable people to connect with businesses, shop and ultimately purchase products in a seamless mobile experience,” said a statement by David Fischer, Facebook’s chief revenue officer, and Ajit Mohan, Facebook’s managing director in India. |
| In a joint interview with a top Reliance executive, Mr. Mohan said tens of millions of small businesses in India were already using WhatsApp to communicate. “How do we help them access customers and help people discover products?” he said, adding that Jio offered a way to reach them. | In a joint interview with a top Reliance executive, Mr. Mohan said tens of millions of small businesses in India were already using WhatsApp to communicate. “How do we help them access customers and help people discover products?” he said, adding that Jio offered a way to reach them. |
| Jio has been teaming up with other American tech companies such as Microsoft to offer an enhanced suite of services to small businesses. Its current offerings include high-speed internet, cloud storage, payments and even products from its vast retail supply chain. | Jio has been teaming up with other American tech companies such as Microsoft to offer an enhanced suite of services to small businesses. Its current offerings include high-speed internet, cloud storage, payments and even products from its vast retail supply chain. |
| This is not Facebook’s first foray into the Indian market. Several years ago, it tried to offer free internet connectivity to Indian users in a program called Free Basics. But that initiative hit snag after snag until it was banned in the country in 2016. Regulators decided that companies could not offer free internet services that favored some companies over others. | This is not Facebook’s first foray into the Indian market. Several years ago, it tried to offer free internet connectivity to Indian users in a program called Free Basics. But that initiative hit snag after snag until it was banned in the country in 2016. Regulators decided that companies could not offer free internet services that favored some companies over others. |
| More recently, Facebook has been at loggerheads with the Indian government over WhatsApp. The government has demanded that WhatsApp change its encryption to trace messages back to their source, which WhatsApp has refused to do. At the same time, regulators have repeatedly stalled WhatsApp’s request to offer a payments service to its Indian users. | More recently, Facebook has been at loggerheads with the Indian government over WhatsApp. The government has demanded that WhatsApp change its encryption to trace messages back to their source, which WhatsApp has refused to do. At the same time, regulators have repeatedly stalled WhatsApp’s request to offer a payments service to its Indian users. |
| Jio was founded by Mukesh Ambani, an industrialist who is India’s richest man. It transformed India’s technology scene when it hit the market in 2016 by offering free calls and ultracheap 4G data to Indians who were previously stuck with high prices and slower 3G connections from the existing carriers. | Jio was founded by Mukesh Ambani, an industrialist who is India’s richest man. It transformed India’s technology scene when it hit the market in 2016 by offering free calls and ultracheap 4G data to Indians who were previously stuck with high prices and slower 3G connections from the existing carriers. |
| Updated June 24, 2020 | |
| Scientists around the country have tried to identify everyday materials that do a good job of filtering microscopic particles. In recent tests, HEPA furnace filters scored high, as did vacuum cleaner bags, fabric similar to flannel pajamas and those of 600-count pillowcases. Other materials tested included layered coffee filters and scarves and bandannas. These scored lower, but still captured a small percentage of particles. | |
| A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico. | A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico. |
| The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth. | The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth. |
| The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave. | The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave. |
| So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement. | So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement. |
| Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks. | Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks. |
| A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study. | A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study. |
| The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April. | The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April. |
| Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. | Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days. |
| If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) | If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.) |
| If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. | If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. |
| Since then, Jio has become India’s largest carrier by number of subscribers, with nearly 400 million lines. It has helped drive India’s mobile internet costs to the lowest in the world, with virtually unlimited data and calls costing just a few dollars a month. The price war it began has also hobbled India’s telecom companies, driving many out of business. | Since then, Jio has become India’s largest carrier by number of subscribers, with nearly 400 million lines. It has helped drive India’s mobile internet costs to the lowest in the world, with virtually unlimited data and calls costing just a few dollars a month. The price war it began has also hobbled India’s telecom companies, driving many out of business. |
| Jio has ambitions to take on Amazon in e-commerce, run data centers, provide fiber internet to homes and businesses and set up new services like tele-health and distance learning. | Jio has ambitions to take on Amazon in e-commerce, run data centers, provide fiber internet to homes and businesses and set up new services like tele-health and distance learning. |
| But Mr. Ambani incurred enormous debt to build the telecom business. Those costs have been subsidized by other parts of Reliance Industries, which is also India’s largest retailer, its biggest producer of polyester and one of its biggest energy companies. | But Mr. Ambani incurred enormous debt to build the telecom business. Those costs have been subsidized by other parts of Reliance Industries, which is also India’s largest retailer, its biggest producer of polyester and one of its biggest energy companies. |
| The money from Facebook will help Reliance reduce some of that debt and invest further in its network, which it needs to do after regulators delayed approval of a high-profile $15 billion deal to sell 25 percent of its energy business to the Saudis. | The money from Facebook will help Reliance reduce some of that debt and invest further in its network, which it needs to do after regulators delayed approval of a high-profile $15 billion deal to sell 25 percent of its energy business to the Saudis. |
| Mr. Ambani has also been the most powerful corporate voice urging regulators to take an India-first approach that favors local companies and hobbles foreign firms like Facebook and Amazon. He has argued that the vast amounts of data collected by such firms should stay in India and be controlled by Indians. | Mr. Ambani has also been the most powerful corporate voice urging regulators to take an India-first approach that favors local companies and hobbles foreign firms like Facebook and Amazon. He has argued that the vast amounts of data collected by such firms should stay in India and be controlled by Indians. |
| In the joint interview, Anshuman Thakur, Jio’s strategy chief, and Mr. Mohan said the companies had different perspectives on some issues but added that would not preclude them from working together in other areas. | In the joint interview, Anshuman Thakur, Jio’s strategy chief, and Mr. Mohan said the companies had different perspectives on some issues but added that would not preclude them from working together in other areas. |
| “We will collaborate on some,” Mr. Mohan said. “We will compete on many.” | “We will collaborate on some,” Mr. Mohan said. “We will compete on many.” |
| Facebook’s investment may help turn India’s battered telecom sector into a duopoly. A recent Supreme Court decision ordering older carriers to pay billions of dollars in back taxes has left the industry in dire financial shape, and one of the three major carriers, Vodafone Idea, is teetering on the edge of insolvency. | Facebook’s investment may help turn India’s battered telecom sector into a duopoly. A recent Supreme Court decision ordering older carriers to pay billions of dollars in back taxes has left the industry in dire financial shape, and one of the three major carriers, Vodafone Idea, is teetering on the edge of insolvency. |