In this week's wrapup, we talk about the tussle between Apple and Epic games, cashless society, Ford’s India exit, Sri Lanka's Economic Crisis and the telecom rescue package.
But if you want to check out the Markets edition this week before you go about reading the wrapup, don't forget to click the link here. It's about ITC.
Fortnite vs Apple - Part 2
Apple and Epic games (the makers of Fortnite) have been going at each other for almost a year now. The bone of contention between the two parties was Apple's insistence on wielding absolute control over the app store and its refusal to allow Epic to bypass its 30% commission - more infamously known as “Apple Tax”. And now finally after all this time, the courts have finally had their say on the matter. But before you absorb the court’s ruling, we insist you read Monday’s Newsletter so that you have all the context.
How a cashless society may spell doom for an entire industry
There was a time when everyone used cold hard cash at all times, for all intents and purposes, for all transactions, to settle all their affairs. However, cheap internet, demonetization, and UPI changed everything. Now people are scanning QR codes at kirana stores, settling bills via google pay and the use of cash has become less prevalent than ever before. And this has also hurt a very niche industry. We explain the whole matter in our next story.
Why Ford decided to exit India
You probably have read about Ford shutting its shop in India. And since that news broke, many people have come up with theories, opinions and such to explain what led Ford to make this drastic decision. We too thought of some reasons that could shed some light on the matter. So if you are interested in reading about Ford’s experience in India and in extension about the radical changes that have transpired in the Indian Auto sector, you should definitely check out our Wednesday Newsletter.
Understanding Sri Lanka's Economic Crisis
Sri Lanka is going through an economic crisis at the moment. The pandemic has ruined its key industries and some ill-thought-out policy decisions made by its government have exacerbated the situation. As things stand our neighbour in the south is facing financial ruin and it seems like very little can be done to save the day. So if you are interested in learning more about how Sri Lanka ended up in this spot of bother, do check out the Thursday Newsletter.
The telecom rescue package explained
We all know about the problems plaguing the telecom sector, specifically, Vodafone Idea. The company is in a death spiral. It is losing subscribers, has boatloads of debt and at the same time, it is not making enough money to improve its situation. And it has become increasingly clear to the government that it simply cannot allow one of three remaining telecom companies to go out of business. So this week the government decided to make some much-needed changes to its telecom policy in a bid to save the industry and VI from impending doom. So if you are interested in knowing what the telecom rescue package entails, look no further than the Friday Newsletter.