Social media is a time sucker !

While social media can (err, most definitely is!) a time-suck, it’s not all bad news. Rather, according to Jeremy Goldman, social media expert and author of the forthcoming Going Social: Excite Customers, Generate Buzz, and Energize Your Brand with the Power of Social Media, all those hours plugged into your phone and computer may have some benefits after all! Social media can boost self-esteem! A recent University of Georgia study found that college students who logged into Facebook more often scored higher on measures of self-esteem than their peers who didn’t. As Jeremy Goldman points out, social media allows you to find others dealing with your same issues and improve feelings of isolation. Plus, research indicates that people who feel as though they are not alone with their problems have more confidence.Social media creates unlikely connections. It’s a no-brainer that social media connects you to others – but the power in social media is the connections it creates outside of your in-person social circle. By connecting you with friends of friends and even strangers, social media can lead to unlikely friendships, mentors and even career advancements.Social media can save time and money. For all of you who think of social media as a waste of time, think again! Need a quick restaurant recommendation or a baby gift idea? Ask your “friends” or “followers” and get feedback instantly! Thinking about buying a new red lipstick? Post a picture on Instagram and see what your followers think immediately before wasting money on a color that doesn’t quite work for you.Social media can make you more creative. Stuck in a creative rut? Have a yearning to tap into your inner Martha Stewart? Get pinning (or just peaking) on Pinterest, for visual inspiration for everything from kitchen remodeling and cupcake decorating to first date dressing and dorm room decorating.

HCL new destination is Lucknow which will create 25,000 jobs

Technology group HCL said it will set up a 100-acre IT city in Lucknow, a move that will help create job opportunities for about 25,000 people in Uttar Pradesh.

Uttar Pradesh government has awarded the project to Vamasundari Investments, the investment arm of HCL, the group said in a statement.

No financial details were available. About 60 acres of the proposed IT city will be allotted to IT and ITeS, including a hi-tech skill development center with a capacity to train more than 5000 people, it added.

The remaining 40 acres is intended for support infrastructure and initiates of social impact, it said.

"IT City shall play a crucial role in the overall economic development and boost up industrial growth of the state. Apart from this, it will directly create approximately 25,000 job opportunities for the youth of the state," UP chief minister Akhilesh Yadav said.

Ancillary support services required for setting up IT industry such as hardware manufacturing, telecommunication equipment and several others shall also create huge career opportunities, it added.

Yadav said the move will also stop the state's talent from migrating to other states in search of better career opportunities.

"Four decades ago, we dreamt of positively impacting the world with microprocessors and the journey then began in partnership with UP government...The development of IT City will further the momentum for innovation-led growth and social development in the state," HCL Founder and Chairman Shiv Nadar Foundation Shiv Nadar said.

Headquartered in Noida, the $6.4 billion HCL group offers indirect employment to one lakh people in UP. Of its total direct workforce of about 90,000 employees, about 30,000 work out of the state.

HCL also has a 46-acre SEZ campus in Noida. In its full capacity, the campus will seat 25,000 employees and generate export revenue to the tune of $one billion.

The group also runs the Shiv Nadar Foundation, which operates Shiv Nadar University in Dadri, VidyaGyan Leadership Academies in Blandisher and Sitapur and Shiv Nadar School in Noida.

E-Currency Bitcoin gang gets 67 new e-currencies; value grows to $13 billion

As regulatory glare intensifies on bitcoins due to possible money laundering, cyber security and other risks, over five dozen other virtual currencies have come under the scanner and include a desi version by name of 'laxmicoin'.

The total value of these 67 digital currencies in circulation over internet has reached nearly $13 billion (over Rs 80,000 crore), out of which bitcoin alone accounts for over $9 billion, according to market estimates.

However, total value of bitcoin and other such virtual currency trades in India is estimated to be worth only a few crores as of now, although NRIs living abroad are expected to be dealing with bitcoins in a big way.

According to those dealing in bitcoins and other such currencies, RBI's caution notice and action initiated by enforcement agencies in the country has been a major dampener and could come in way of launch of Indian versions of such currencies and that of exchanges providing trading platforms.

A number of bitcoin operators in India have begun suspending their business following RBI's warning against use of such virtual currencies due to potential money laundering and cyber security risks.

Bitcoin is a virtual currency that can be generated through complex computer software systems with solutions shared on a network, although the process is complex and such 'mining' can be done only on very powerful servers.

Within four years of coming into existence, bitcoin has become the world's most expensive currency and its per unit value soared past $1,200 level or about Rs 63,000 recently, although the prices have now slipped below Rs 50,000 level.

There was a phenomenal surge in the exchange rate for bitcoin from little over $200 to well past $1,000 during November, but there has been an extreme volatility since then and the RBI's warning has further added to its woes in India.

According to experts and regulatory officials, different virtual currencies continue to pop up almost everyday exposing users to unintended risks and also losses arising out of scams perpetrated by cyber criminals looking to make a quick buck.

While four-year old bitcoin shot to prominence with its per unit value soaring past $1,200 level recently, the heavy interest in such cryptocurrencies has led emergence of namesakes like Ripple, Litecoin, Mastercoin, Nxt, Dogecoin etc. There is laxmicoin, which its promoters term as India's very own digital currency and claim it would be launched soon.

The proliferation of new currencies is being linked to the complexities involved in the way bitcoin is 'mined'. The newer avataars are comparatively much easier to create, word-of-mouth publicity and a rush of speculators has ensured they are catching up much faster, traders said.

While absence of information of counterparties while trading could subject users to breaches of Anti-Money laundering laws, account opening also exposes them to risk of identity theft.

Most platforms require users to upload images of government photo IDs (passport, driver's licence etc), proof of address documents (utility bill, vehicle registration etc) as well as online banking account details.

While the US has declared that all prevailing money laundering laws would apply to bitcoins, China has asked its banks and other financial institutions not to deal in bitcoins and the public has been asked to do so at their own risk.

Earlier this month, the European Banking Authority said thefts from digital wallets have exceeded USD 1 million in some cases and traders are not protected against losses.

On Christmas day, hackers digitally robbed 21 million Dogecoins that was reportedly created earlier this month to poke fun at Bitcoin.

While RBI is yet to come out with a clear regulatory framework for bitcoins, within days of its advisory entities such as buysellbitco.in, INRBTC and unocoin suspended operations, temporarily or indefinitely, while websites of a few others have gone down.

A team of Enforcement Directorate (ED) officials last week raided two offices in Ahmedabad for illegally trading of bitcoins through their websites.

"With the shutdown of these India-based exchanges, consumers will now seek other exchanges in order to purchase Bitcoin, driving business elsewhere. To be fair, RBI's actions are expected. Bitcoin is a new technology and its nature is very risky because its still in its infancy," said Jinyoung Lee Englund, Director of Public Affairs, Bitcoin Foundation.

Soon after global monetary authorities issued warnings or advisories, values of virtual currencies slumped and have become very volatile with daily swings of 5-20 per cent. Bitcoin trades at $740, down 25 per cent from its peak.

"The message of central banks is one of caution, reminding consumers that Bitcoin is not government sanctioned or insured and that any involvement would incur personal financial risk. Infrastructure needs to be built and the foundation is hard at work educating regulators, lawmakers, and the public...," Lee Englund said.

A virtual currency is a form of unregulated digital money, not issued or guaranteed by a central bank, which can act as a means of payment. It is now increasingly possible to use virtual currencies as a means to pay for goods and services with retailers, restaurants and entertainment venues.

Virtual currencies can be bought at an exchange platform using conventional currency. They are then transferred to a personalised account known as a 'digital wallet'. Using this wallet, consumers can send virtual currencies online to anyone else willing to accept them, or convert them back into a conventional fiat currency.

Opportunity to create 2 Lakh R&D jobs in India by 2018

India, which has a presence of 228 of the top 500 firms globally, has the opportunity of creating 200,000 jobs in the research and development (R&D) space in the next five years, global advisory and management consulting firm Zinnov said in a report.

According to the report, Crossing the Value Chasm, China is the leading destination for R&Dinvestments with a total of 385 G500 companies having a presence there as compared to 228 global 500 companies in India and 220 firms in the Bay Area in the US.

"In keeping with the historic trend that companies with a higher R&D spend find India more attractive for investments, there is a clear opportunity to create additional 200,000 R&D jobs in India by global 500 companies in the next 5 years," the report added.

The top 500 R&D spenders contributed over $577 billion, with the top 100 R&D spenders alone contributing 66 per cent to the global R&D spend, it said.

Of the total global R&D spend, 40 per cent of the overall is from organisations headquartered in North America, followed by 34 per cent from Europe, 18 per cent from Japan and 7 per cent from Asia-Pacific, Zinnov said in the report.

"In 2012, 26 firms increased their global R&D spend by at least 20 per cent and contributed over $19 billion. Fourteen of these companies have a presence in India and have increased their global R&D spend by $14 billion, of this only $129 million was invested in India," the report said.

At present, close to 50 per cent of the global 500 firms present have over 10 per cent of the global R&D head count in India.

While software/Internet companies tend to achieve the milestone of locating 10-20 per cent of their R&D headcount in India faster than others, fee companies seem to have reached a ceiling at a minimal 1-4 per cent of the global head count.

"A factor is that many of the India centres lack strong leadership and global stakeholder buy-in. Currently, only 11 per cent of the companies with centres in India have global roles in engineering, product management and support functions," it said.

Only 15 per cent of the India leaders are proactive, influential and have a global impact, indicating a need to grow strong a leadership pipeline, the report added.

The best retro fashion at 2013 Goodwood Revival

Visitors to the 2013 Goodwood Revival made the show sparkle with a dazzling array of retro and vintage outfits. The motorsport show celebrates the cars of the post-war era when the Goodwood motor racing circuit was in its heyday - and punters flock to the show in clothes to suit.

This bunch of ageing wannabe soldiers re-enacted the Dads' Army brigade with some fine WW2 clobber. It's a fitting step back in time for Goodwood: the motor racing circuit was created from the defunct Spitfire airfield.

This businessman enjoys a breath of fresh air at the 2013 Goodwood Revival, his stylish fez striking a classy finish to his vintage outfit. Walk past him on the high street and you'd think he was off to a fancy dress party; at Goodwood, nobody bats an eyelid.

To mark the anniversary of the conquest of Everest, one corner of Goodwood was turned into a recreation of the Himalayan mountainside.

Period military clothes were ten-a-penny at the Goodwood Revival 2013.

These ladies dressed in 1950s period stewardess outfits caught the eye.

It's not just four-wheeled fun at the Goodwood Revival. There were many classic motorcycles and biking clobber, too.

This lady sported fabulous matching vintage clothes to go with her Fiat Multiple.

Even the check-out staff at the retro Tesco supermarket on site wore period garb. This predates the era of loyalty Clubcards and contactless payments.

Children join in the vintage clothing fun at the 2013 Goodwood Revival.

This comedy double act play Laurel and Hardy at the Goodwood Revival.

A joint operation between the different strands of the armed services, c1945.

The marshals join in the retro vibe at the Goodwood Revival. A stroll along the pitlane at the motor racing circuit is a very special experience indeed. You're instantly whisked from 2013 back to the 1950s.

You don't get lollipop girls like this on the 2013 F1 grid. You do at the Goodwood Revival.

Not ones to miss out, the mechanics also take a step back in time - sporting wonderfully simple period workshop clothes.

If only Kwik Fit staff had to wear period costume... These Dunlop girls look the part.

If only Kwik Fit staff had to wear period costume... These Dunlop girls look the part.