Skip to content
Search

Latest Stories

Indian billionaire proposes funding Facebook rival

An Indian billionaire who promised to help fund a rival to Facebook said on Wednesday (28) he had been "overwhelmed" with the response as the world grapples with concerns about data privacy.

Anand Mahindra, whose Mahindra Group business empire spans everything from cars to real estate, sparked a flurry of brainstorming as Facebook reels from a scandal over the misuse of its user data.


The social media giant has been under pressure to explain how data on up to 50 million users was allegedly taken from Facebook and used in political campaigns.

Mahindra earlier this week urged India's tech entrepreneurs to devise "our own social networking company" and offered seed funding to startups to get the better ideas rolling.

The invitation provoked a flood of proposals, even from his own chief digital officer Jaspreet Bindra who was tempted by his boss's offer.

"To say I'm overwhelmed by the responses to my call for social network startup proposals would be an understatement!" Mahindra posted on Twitter on Wednesday.

"The good thing is that it's clear there's an explosion in entrepreneurial energies in this country. Let the games begin!"

India has the world's highest number of Facebook users with 241 million active members, according to a report published last June by Amsterdam-based firm The Next Web.

India's information technology ministry last week formally requested that Cambridge Analytica -- the data analysis company at the centre of the Facebook firestorm -- provide clarity over its practices by the end of the month.

That followed reports that prime minister Narendra Modi's ruling party and the opposition Congress had used the firm in previous elections, sparking a series of alleged data abuses which both sides deny.

India's IT minister warned Facebook against any abuse of social media in elections. India is preparing for general elections in 2019 and there are also a number of state polls due this year and next.

More For You

single-use vapes-iStock

Analysis by Material Focus estimates that 8.2 million vapes are discarded or littered each week in the UK—equivalent to 13 every second. (Representational image: iStock)

iStock

Shops told to clear single-use vapes before ban starts on June 1

SHOPS across the UK have until 1 June 2025 to sell off remaining stocks of single-use vapes before a nationwide ban comes into force.

The legislation, confirmed last year, follows a government consultation that showed strong support for restricting their sale and supply.

Keep ReadingShow less
Primark-London-Getty

During his 15-year tenure, Marchant expanded Primark’s store network to more than 450 locations across 17 countries in Europe and the United States. (Photo: Reuters)

Primark chief Paul Marchant steps down after misconduct probe

PAUL MARCHANT, the head of fashion retailer Primark, has resigned with immediate effect after admitting to an "error of judgment" in his behaviour towards a woman in a social setting.

Associated British Foods (AB Foods), Primark's parent company, announced his resignation on Monday.

Keep ReadingShow less
Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

JAGUAR’S ambition to seduce younger, richer drivers was on full display in Paris with a presentation of its newest prototype, the Type 00, which promises all-electric luxury... at a steep price.

The low-slung, muscular-looking concept car presented to European reporters last Friday (21) prefigures a production model expected mid-2026 at a base cost of €150,000 (£123,472.8).

Keep ReadingShow less
Starmer-Trump-Getty

Trump has suggested the possibility of a 'great' trade deal that could help the UK mitigate the impact of tariffs he has pledged to introduce. (Photo: Getty Images)

Starmer, Trump talk trade deal progress in 'productive' discussion

KEIR STARMER and Donald Trump spoke on Sunday about ongoing UK-US trade negotiations, with Downing Street describing the talks as "productive."

Since leaving the European Union, the UK has been working to secure a trade agreement with the United States. Successive British governments have pursued a deal, but it has remained elusive.

Keep ReadingShow less
modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)

India-US trade talks end with no sign of tariff relief

INDIA and the United States have agreed to move forward on finalising a part of their bilateral trade deal this year, but there was no indication of any tariff relief for India.

Trade discussions took place in New Delhi ahead of the implementation of US president Donald Trump's new trade tariff regime, which includes import levies on India, set to take effect from 2 April.

Keep ReadingShow less