WeWork, the SoftBank Group-backed startup whose meteoric rise and fall reshaped the office sector globally, sought U.S. bankruptcy protection. Notably, bets on companies using more of its office-sharing space soured. The move represents an admission by SoftBank, the Japanese technology group that owns about 60% of WeWork and has invested billions of dollars in its turnaround, that the company cannot survive unless it renegotiates its pricey… read-more
Courtesy: News 18
Mukesh Ambani, the wealthiest industrialist in the country received a death threat again on email, Mumbai police confirmed on Saturday. A 19-year-old man was arrested early in the morning today by the Gamdevi police in Mumbai in connection with sending multiple threatening emails to industrialist Mukesh Ambani. According to reports, the police identified the accused as Ganesh Ramesh Vanpardhi, who hails from Telangana. He has been remanded in… read-more
Courtesy: The Free Press Journaal
Tata Motors gets arbitral award of ₹766 crore plus interest to compensate for its investment in the now scrapped Singur plant. On October30, a three-member Arbitral Tribunal gave a unanimous award in favour of Tata Motors to be compensated for its investment in the now-scrapped in West Bengal. "In respect of the arbitration proceedings between Tata Motors Limited (TML) and West Bengal Industrial Development Corporation Limited (WBIDC)," read… read-more
Courtesy: The Times of India
Google has doubled down on its artificial intelligence bets by investing another $2 billion into AI startup Anthropic, according to a new report. Google has already invested $500 million upfront to Anthropic—a rival to ChatGPT creators OpenAI — and will pay off the remaining $1.5 billion over time, said a post released on October 27. The mega-deal adds to Google’s $550 million investment into Anthropic earlier in the year.
Courtesy: Coin Telegraph
Elon Musk is celebrating one year of Twitter takeover with $44 billion-deal, and aims to make it all app, including the financial hub. As per sources, on October 26, Musk and X CEO Linda Yaccarino held X's first all-hand meeting and discussed major aspects of rebranding, including the vision of making the platform a space for users for finances. Musk also asked X employees to replace X with bank accounts.
Celebrity couple Anushka Sharma and Virat Kohli on Monday announced their foray into promoting events and experiences through their new venture, Nisarga. The new venture will promote high impact events and intellectual properties (IPs), curate special segments in existing IPs as well as develop and create new platforms. As a first step, Nisarga has tied up with Elite Octane, a specialist motorsports and entertainment events for holding big… read-more
Courtesy: India Today
Big tech giant, Apple is in race to compete Google, Microsoft, and Meta are currently leading the charge, continuously unveiling new AI features. Apple is planning to make a change and take a leap is not far off. According to reports, the Cupertino-based tech company is planning to expand its portfolio of generative AI technology, soon introducing AI-related features for iPhones, Macs, and various services, including the voice assistant Siri… read-more
Courtesy: India Today
Bitcoin has gained traction, evidenced by the recent surge in its price. The bitcoin price has crossed the $30,000 mark on October 20, fueling optimism in the market. The major factor behind this surge is the recent development in the XRP case, as SEC dismissed to file charges, which led to rebelieve of investors. Now, the market of cryptocurrency and trading looks fine, making bitcoin strong asset in 2023.
The constant job layoffs have been a concern, especially in the IT sector. In the last week, many people were laid off, in companies like Tata Consultancy(6333,) Infosys(7250,) and HCL(2299). As per reports in the next six months, many more jobs will be cut off & new graduates will face employment difficulties. Considering the situation of huge companies, start-ups are going to work hard to thrive, with no media attention.
Amazon is rolling out a new variant of its Prime membership program for Android users in India, said to be yet another move to take on rivals like Flipkart. Titled Prime Shopping Edition, it is available to users at Rs 399 per year and offers free shipping, one-day deliveries and other shopping-related benefits that Amazon Prime users get. However, Prime Video, Music, Reading, Gaming, will not be available.
Courtesy: Money Control