OpenAI is backing California's AB 3211, a bill requiring tech companies to label AI-generated content. This move comes amid rising concerns over misinformation, especially in election years. The bill passed the state Assembly and is now pending a state Senate vote. OpenAI opposed another bill demanding safety testing for AI models.
Janmashtami celebrations across India resulted in a business surge of over Rs 25,000 crore, according to CAIT. The festival, marked by significant sales of flowers, sweets, and decorative items, was celebrated with great enthusiasm, particularly in North and West India, underscoring its economic significance.
Hindustan Zinc, under Vedanta, fixed August 28 as the record date for dividends, making today the last day to buy shares to qualify. The company announced a Rs 19 per share dividend. Other companies such as Asahi India Glass, and Bajaj Steel Industries also disclosed their final dividends.
RFK Jr. has been considering strongly dropping out of US Presidential Elections 2024 race, with chances of him supporting Donald Trump quite high at the moment. However, DNC officials claim that this factor would not do much to hurt Kamala Harris' chances, whose popularity ratings are topping the charts at the moment.
India and Singapore held their second round of the India-Singapore Ministerial Roundtable in Singapore, with 10 ministers participating. The two countries discussed strategic partnerships, including investments and trade, ahead of PM Narendra Modi's visit on September 5. The meeting focused on digital, skill development, sustainability, healthcare, connectivity, and advanced manufacturing.
Gujarat is grappling with severe rainfall, causing floods and resulting in three deaths and seven missing individuals. Over 1,600 people have been rescued, while 17,800 have been relocated. Authorities are on high alert, with major rescue operations ongoing and additional central support promised. The IMD forecasts more heavy rain, prompting extensive safety measures.
On Monday, equity indices surged nearly 1%, driven by optimism around potential US Federal Reserve interest rate cuts. Trent dropped 0.27%, Honasa Consumer soared 8%, and NIIT climbed nearly 20%. Analyst Avdhut Bagkar discussed upcoming projections and important support levels for these stocks when markets reopen today.
Gold prices were steady on Tuesday, close to record highs, driven by safe-haven demand from Middle East tensions and prospects of a U.S. Federal Reserve interest rate cut in September. Spot gold remained unchanged, and U.S. gold futures saw a slight decline. Traders are anticipating a potential interest rate cut, enhancing gold's attractiveness.
Telegram's CEO, Pavel Durov, was arrested in Paris on allegations of enabling illegal activities on his platform. Though Durov has yet to be charged, the arrest has stirred reactions including support from Elon Musk. Telegram maintains it adheres to EU laws and its content moderation is within industry standards.
In early trading on Tuesday, Japan's Nikkei share average fell 0.5% to 37,936.68 following declines on Wall Street. Technology stocks led the drop, with companies like Tokyo Electron and Advantest pulling the index down. Broader Topix also dipped 0.2%. The yen's recent strength against the dollar further dampened market mood.
The US Open is finally here after a long break and tennis enthusiasts in the United States will once again get the opportunity to catch up on sporting action they have been missing since the Paris Olympics 2024 ended. Here's how you can catch all the live action around the US Open live on your screens.
Oil prices saw a minor decline in Asian trading after rising over 7% due to supply concerns linked to Middle East tensions and Libyan oil field closures. Brent crude and WTI futures both fell. The market had reacted to potential disruptions from Israel-Hezbollah clashes and Libya halting oil production amid political disputes.
Apple Inc has appointed Indian-origin engineer Kevan Parekh as its new Chief Financial Officer, succeeding Luca Maestri. Parekh, who will assume office on January 1, 2025, is currently Vice President of Financial Planning and Analysis at Apple. With 11 years at Apple, he has played a crucial role in shaping its financial strategy and operations.
Gas prices could hit some record low prices within the next few days, a first since 2021, which is great news for Labor Day weekend enthusiasts, who are gunning for a major road trip with the offs they will be getting for the auspicious occasion. Here's how you could fill your gas tanks for cheap.
Elon Musk has called for California to pass an AI safety bill, advocating for regulatory measures for AI technologies. He compared AI regulation to other public risk technologies. While many proposed AI-related bills failed, Microsoft-backed OpenAI supported another bill requiring labels on AI-generated content to prevent misinformation, especially during elections.
Financial planners recommended avoiding the Nippon India Nifty 500 Equal Weight Index Fund for low-risk investors due to its heavy exposure to small and mid-cap stocks. Advisers suggested using SIPs for those interested, highlighting high valuations in these sectors. The NFO closes on September 4.
Kalyan Jewellers India's promoter held discussions with Motilal Oswal and 360 One to secure ₹2,000-2,500 crore in high-yield debt. These funds are intended to boost their equity stake in the company. The proceeds from this debt will partly finance the acquisition of shares from Warburg Pincus.
"It appears that the transition to the new CFO is planned and orderly, which is the most important question. Maestri staying on with Apple is also very important, as it removes the risk of financial questions," D.A. Davidson analyst Gil Luria said.
Resourceful Automobile's IPO saw overwhelming demand, receiving bids worth ₹4,700 crore for a ₹12-crore issue. The New Delhi-based company, which runs Yamaha showrooms, aims to expand operations, repay debt, and meet working capital needs with the raised funds. The SME issue will list on the BSE SME platform on August 29.
India's Nifty and Sensex saw gains of over 0.75% spurred by Federal Reserve chairman Jerome Powell's comments on rate cuts. The Nifty closed above 25,000 for the first time in August. Gains were led by sectors like metals, IT, and realty, while the banking sector lagged due to domestic uncertainties.
Jerome Powell of the Federal Reserve signaled upcoming interest rate cuts, likely commencing with a 25 basis-point reduction in September. Investors are focusing on economic data like employment and inflation to gauge the stock market's future, especially amid high valuations and a crucial presidential race.