Apple Inc. has announced that Kevin Parekh, an Indian-origin executive, will be the new Chief Financial Officer (CFO), starting January 1, 2025. His yearly salary will be $1 million (about Rs 8.57 crore). In addition to his salary, he can also earn bonuses from Apple’s Executive Cash Incentive Plan for the 2025 fiscal year.
Kevin’s Journey at Apple
Kevin joined Apple in June 2013 and has worked in important jobs, like Vice President of Financial Planning and Analysis, and Vice President of Finance for Sales, Marketing, and Retail. His hard work in these roles made him a great fit for the CFO position.
Previous Work Experience
Before working at Apple, Kevin held senior jobs at Thomson Reuters and General Motors. There, he learned a lot about managing finances and making corporate strategies.
Transition of CFO Role
Kevin will take over the role from Luca Maestri, who has been CFO since 2014. Aim of the switch is to allow Maestri to lead Apple’s Corporate Services teams. This includes overseeing areas like information systems, technology, cybersecurity, and real estate.
Apple’s Board of Directors announced Kevin’s new position in a filing with the U.S. Securities and Exchange Commission (SEC) on Friday.
A New Chapter for Apple’s Finances
With Kevin stepping in as CFO, Apple looks forward to continuing its strong financial plans. Maestri’s new job will also help Apple improve its operations and technology.
This news is a big step for Kevin, as he joins other Indian-origin leaders in top roles at big global tech companies.
Author: Naman Dheer
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Kevin Parekh Appointed as New Apple CFO Starting January 1, 2025!
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Tragedy Strikes: 13 Killed in Mumbai Speedboat and Ferry Collision
A tragic accident happened on Wednesday off the Mumbai coast when a speedboat crashed into a passenger ferry, resulting in the deaths of 13 people, including three Navy officers. The Indian Navy confirmed that the speedboat was their own and lost control due to engine problems while conducting tests.
The Navy stated that the boat collided with the ferry, which then overturned. “This afternoon, while testing the engine, our Navy speedboat had a malfunction, which caused it to crash into a passenger ferry,” the Navy shared on social media.
So far, 101 people have been rescued, and survivors are receiving medical care. Search and rescue operations are actively ongoing, using four helicopters, 11 Navy boats, one Coast Guard vessel, and three marine police crafts to locate and help those affected.
The ferry was heading to Elephanta Islands, a popular tourist spot near Mumbai, when the accident occurred around 4 PM. Maharashtra Chief Minister Devendra Fadnavis confirmed that among the deceased, there were 10 civilians and three Navy personnel.
Defense Minister Rajnath Singh expressed his sorrow as well. He mentioned, “I am deeply saddened by this tragic event. Those hurt, including both Navy personnel and civilians, are receiving urgent medical attention. My heartfelt condolences go to the families of those who lost their lives.” Search efforts are ongoing to find anyone missing. -
Astrology Today for 19th Dec 2024: Purnima Insights and Good Times to Act
Today is Purnima, which means the full moon day. It lasts until 10:05 AM, after which a new phase called Pratipada begins. The stars are favorable as Mrigashirsha Nakshatra shines until 4:53 PM, and then Ardra takes over. We have a good period called Shubha Yoga until 10:10 AM, followed by Shukla.
The Karana, or specific moon phase, will influence us until 10:05 AM. After that, Balava will have an effect until 11:22 PM, before giving way to Kaulava. The moon is moving through Gemini today.
Sunrise: 7:09 AM
Sunset: 5:28 PM
Tithi (Lunar Day): Purnima (up to 10:05 AM), then Pratipada
Nakshatra (Star): Mrigashirsha (up to 4:53 PM), then Ardra
Yoga: Shubha (up to 10:10 AM), then Shukla
Karana: Bava (up to 10:05 AM), then Balava (up to 11:22 PM), then Kaulava
Lucky Times:
Abhijit Muhurta: 11:58 AM to 12:39 PM
Vijaya Muhurta: 2:01 PM to 2:43 PM
Unlucky Time:
Rahu Kalam: 4:10 PM to 5:28 PM
The Moon is in Gemini today, while the Sun is in Sagittarius. Your lucky moon signs today are Aries, Gemini, Leo, Virgo, Sagittarius, and Capricorn. The unfavored sign is Scorpio.
Panchanga is an astrology calendar that helps you choose the best times for tasks based on the moon and stars. It has five parts: Vaara (day), Tithi (lunar day), Nakshatra (star), Yoga (good period), and Karana (moon phase). -
AISPLB Objects to Waqf Amendment Bill: Key Concerns Explained
On Wednesday, members of the All India Shia Personal Law Board (AISPLB) presented 13 concerns to the Joint Parliamentary Committee (JPC) regarding the Waqf Amendment Bill that the government plans to pass. However, insiders said that the AISPLB officials had trouble explaining their points clearly.
Members of the ruling party questioned the objections from the AISPLB, but the officials struggled to respond effectively. The AISPLB representatives explained that they were given very short notice for the meeting and weren’t fully prepared. The JPC chairperson said they could return or submit written answers to the questions later.
During the meeting, the AISPLB officials argued that the bill was against the interests of the Muslim community. However, a ruling party MP argued back, saying past governments had only appeased the Muslim community and that this new government was truly trying to help the poor and women within the community.
Some opposition MPs disagreed with the ruling party MP, stating that he was turning the discussion into a political fight. The meeting’s chairman stepped in to end the argument.
After the meeting, JPC chairman Jagdambika Pal told the media that the AISPLB had presented their 13 concerns. The committee would review these points and may ask the AISPLB officials to come back for more discussions.
This JPC, which started reviewing the bill in August, was expected to report back to Parliament during the current winter session. However, the Lok Sabha speaker has allowed more time to discuss it until the end of the next budget session. -
Challenges for Modi’s ‘One Nation, One Poll’ Bill Explained
The Indian government, led by Prime Minister Narendra Modi, wants to change how elections work in the country. They proposed a plan called ‘One Nation, One Poll’ (ONOP). This plan means that all elections—both national and state—would happen at the same time. To make this change, the government needs a strong majority, which means at least two-thirds of the votes from both houses of Parliament.
However, the government does not currently have enough votes to pass this bill. In a recent vote in the Lok Sabha (the lower house of Parliament), the government received 269 votes while the opposition received 198 votes, out of a total of 461 votes. Congress MP Manickam Tagore pointed out that this means the government didn’t reach the required two-thirds majority to introduce the bill.
Opposition leaders mentioned that this bill doesn’t have the strong emotional appeal that past laws—like the one removing Article 370 from Jammu and Kashmir—had. All major opposition parties, including Congress and several regional parties, are against ONOP. They see it as a threat to their existence because they believe it could give the BJP, which has a strong leader like Modi, an unfair advantage in state elections.
Prominent regional parties such as the Samajwadi Party (SP), Trinamool Congress, and Dravida Munnetra Kazhagam (DMK) are strongly opposing this bill. They worry they won’t have enough resources, like money and volunteers, to compete in local and national elections at the same time. Other regional parties that used to support the BJP, like YSR Congress Party (YSRCP) and Biju Janata Dal (BJD), have also turned against the government after recent election results.
To pass the ONOP bill, the government needs two-thirds of the votes from members present and voting. The current ruling coalition, known as the National Democratic Alliance (NDA), has 293 MPs in the Lok Sabha out of 543 and 125 in the Rajya Sabha (the upper house). The NDA had a larger number of seats in 2019 when they successfully passed the bill to remove Article 370.
On Tuesday, Home Minister Amit Shah announced that Prime Minister Modi wants the ONOP bill to be reviewed by a Joint Parliamentary Committee (JPC) for further discussions. The BJP is also working to educate people about the benefits of the ONOP plan to gain more support. However, the government has mentioned that, even if the bill passes, this change won’t happen until 2034. -
Tragic Shooting at Madison Christian School: 5 Dead, Many Hurt
On Monday morning, there was a very sad and scary shooting at a private Christian school called Abundant Life Christian School in Madison, Wisconsin. It happened around 11 a.m. Many people were hurt, and sadly, five people lost their lives, including the shooter, who was a student at the school.
When police arrived, they found several people who had been shot. The police said that the shooter was a minor and confirmed that the danger was over. They also mentioned that no police officers fired their guns during the incident.
Casualties and Injuries
Seven other people were taken to hospitals. Their injuries varied from minor to serious. Right now, it’s not clear if the people who died or who were hurt were students, teachers, or other staff members.
Community Impact
Madison Police Chief Shon Barnes expressed deep sadness for the families and the entire school community. He acknowledged the emotional pain caused by this tragic event. Wisconsin Governor Tony Evers also shared his condolences and praised the first responders for their quick actions.
As investigations continue, the police have closed off roads around the school, and agents from the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) are helping local officers gather information. -
12 Indian Nationals Die from Carbon Monoxide Poisoning in Georgia
During a sad incident, 12 Indian people were found dead in a restaurant in Georgia because of carbon monoxide poisoning. This happened at a popular ski area called Gudauri.
The Indian embassy in Tbilisi, the capital of Georgia, expressed deep condolences for the families of the victims. They are working with local authorities to gather more information and provide all possible help.
Georgia’s police stated that when they first checked the place, they did not find any signs of injury or violence. They mentioned that while the Indian mission confirmed all victims were Indian, local officials said that 11 were foreign nationals and one was a Georgian citizen.
So what happened? It seems that a generator was placed inside a closed area near the bedrooms of the building. When the electricity went out on Friday night, the owners turned on the oil-powered generator. Unfortunately, the generator produced carbon monoxide, which suffocated everyone inside.
Local police have started an investigation under a law that covers negligent manslaughter. They are also conducting a forensic examination to find out exactly how they died. Georgia’s Interior Ministry has stated that they are actively working on the investigation, gathering information, and interviewing people involved in the case.
Gudauri is well-known for skiing and snowboarding, located high in the Caucasus mountains at about 2,200 meters above sea level. -
Sri Lanka Commits to India’s Security Amid Rising Chinese Concerns
On Monday, Sri Lanka promised India that no one will use its land to endanger India’s security. This promise was made by new Sri Lankan President Anura Kumara Disanayaka during his visit to New Delhi, which will last until December 17. President Disanayaka expressed gratitude to India for its help, which includes $5 billion in economic support.
“We will continue to grow our friendship with India,” Disanayaka said at a press conference alongside Indian leaders. This pledge is important, especially because of China’s growing military activities in the Indian Ocean that worry India.
China has taken control of the Hambantota Port in Sri Lanka, raising alarms because Chinese naval ships have been spotted there, potentially threatening India. In August 2022, India expressed concerns about these Chinese ships, and initially, Sri Lanka wanted to delay their visit. However, they were allowed to come, increasing Chinese naval presence near India.
To combat this, India is working closely with Sri Lanka. Prime Minister Narendra Modi and President Disanayaka discussed crucial issues like border safety and China’s activities. They also talked about new projects to connect electricity and build a petroleum pipeline, which will improve trade between the two nations.
Sri Lanka is trying to recover from a severe economic crisis, which led to political changes and helped Disanayaka’s party win the government. -
Hamas Leader Nidal Al-Najar Killed in Israeli Operation
Nidal Al-Najar, a top commander in Hamas responsible for their air operations, has been killed. This happened in a careful mission by the Israeli Defense Forces (IDF) and the Israel Security Agency (ISA). Al-Najar was one of the key people behind the attack on Israel that took place on October 7.
He played a major role in leading attacks against Israeli soldiers, using drones and other flying devices to target them. This news comes just one day after Hamas warned that if Israel tried to rescue any hostages, they would harm the captives.
The situation in Gaza is very serious, with reports saying over 44,400 Palestinians have died due to Israeli airstrikes. Nearly 90% of the 2.3 million people living in Gaza have been forced to leave their homes, according to the health ministry in Gaza. -
Odisha FC vs Mumbai City FC: Goal-less Draw in Indian Super League Match
Odisha FC and Mumbai City FC played a match that ended without any goals on Thursday in the Indian Super League. This was the first time in 10 home games that the Juggernauts didn’t score.
The match started well for Odisha FC as they attacked right away. Their strong forwards often create chances to break through their opponents’ defense. In the ninth minute, Diego Mauricio picked up the ball, turned quickly, and tried a long shot, but it missed the goal. Even though he didn’t score, his attempt reminded Mumbai City’s defense to stay alert.
Mumbai City FC responded with some good attacks, especially early in the second half. In the 48th minute, Vikram Partap Singh and Nikolaos Karelis worked well together inside the box, but Odisha goalkeeper Amrinder Singh stopped Karelis’s shot just in time.
Mumbai City realized they were gaining momentum and kept attacking. Manzorro played a big role, using his creativity to help his team. Just five minutes later, he made a great pass to Jayesh Rane, who took a strong shot that Amrinder saved again.
Both teams kept fighting for the win, bringing in fresh players like Raynier Fernandes and PN Noufal in the 73rd and 81st minutes, but they both focused on defense. As a result, the match ended in a draw, with both teams earning one point.