BUSINESS
A $46 billion rally shows India tech woes easing
The newfound optimism marks a change from just months ago, when Infosys warned about customers in key sectors such as finance pulling back amid fear of recession in the US and Europe
COMPANIES
Satya Nadella’s Microsoft payouts top $1 billion on 1,000% stock boom
Nadella is part of an exclusive club of corporate titans who’ve amassed 10-figure hauls from their employers.
BUSINESS
Tesla to spend over $1 billion on Dojo Supercomputer
The company said in its latest earnings release that it had begun production of its “Dojo training computer.”
TECHNOLOGY
Apple tests ‘Apple GPT,’ develops Generative AI tools to catch OpenAI
In recent months, the AI push has become a major effort for Apple
WORLD
World Bank chief Ajay Banga eyes corporate philanthropy to raise funds
Efforts also include hybrid capital instruments and a portfolio guarantee program that could allow the sovereign to assume risk and thus free up more private investment for poorer nations, Banga told Bloomberg News on the sidelines of the Group of Twenty meetings in Gujarat.
WORLD
Singapore Passport is world’s most powerful, replacing Japan
Singapore is a magnet for wealth, with a recent influx driven by a crackdown on private enterprise in China and fears over geopolitical tensions.
WORLD
China foreign minister Qin Gang’s mystery absence fuels black box concern
Qin’s absence comes on the heels of a rapid rise in elite Chinese politics that saw him serve for less than two years as US ambassador, before being elevated to the post of foreign minister in December.
BUSINESS
A 700% jump in Tomato prices creates windfall for Indian farmers
Retail prices of tomatoes were at 178 rupees ($2.20) a kilogram in Delhi on Sunday, a jump of more than 700% from Jan. 1, according to data compiled by the food ministry. The national average was almost 120 rupees that day.
BUSINESS
Adani’s go-to bankers at Barclays turn cautious after Hindenburg
An explosive report by short-seller Hindenburg Research in January has changed all that, prompting the bank to pare its exposure, leaving a hole in an Indian business that’s been a key driver of the firm’s Asian growth for years.
WORLD
Microsoft-Activision deal poised to close later than planned
The companies don’t plan to walk away from the deal and will continue seeking the final regulatory approvals needed for closing, said the people, who declined to be named because they were not authorized to speak publicly on the matter.
WORLD
How China beat everyone to be world leader in electric vehicles
Beijing’s success is breathtaking. EVs accounted for a quarter of all passenger cars sold in China last year, far ahead of the roughly one in seven in the US and one in eight in Europe. And the pace is accelerating. HSBC expects the EV penetration rate in the world’s second-largest economy to reach 90% by 2030.
WORLD
US plans narrow limits on China tech investments, likely by 2024
Officials are aiming to wrap up a proposal by the end of August for the long-delayed program to screen and possibly prohibit investment in China’s semiconductor, quantum-computing and artificial intelligence sectors, according to people familiar with the plans, who asked not to be identified because the details are still private.
BUSINESS
Vedanta step closer to regain control over Zambia copper assets
“Vedanta is alive to the fact that the talks have taken a little longer than initially anticipated,” it said in a statement on Sunday. “The company is firmly committed to the process.”
WORLD
Pakistan PM Shehbaz Sharif to step down before term ends next month
Shehbaz Sharif, who took over in April 2022 after leading a coalition of parties that removed Imran Khan from power through a parliamentary vote of no-confidence, didn’t say when exactly he will quit.
WORLD
Dollar’s busted bull run has bears calling end of an era
The greenback’s worst slump since November has a bevy of strategists and investors saying a turning point is finally at hand for the world’s primary reserve currency. If they’re right, there will be far-reaching consequences for global economies and financial markets.
WORLD
Actors go on strike in new blow to struggling Hollywood studios
The Writers Guild of America, meanwhile has been on strike since May 2, shutting down late-night TV programs like The Tonight Show, halting many projects in progress and imperiling the traditional release of new broadcast TV shows starting in September.
WORLD
Artificial sweetener Aspartame is ‘possibly’ carcinogenic, yet safe at common use levels, WHO says
Citing the results of two new assessments of the health impact of the popular artificial sweetener, the WHO said that it has “limited evidence” that aspartame can cause cancer in humans.
WORLD
Solar farms out at sea are clean energy’s next breakthrough
The experiment by State Power Investment Corp., China’s biggest renewable power developer, and Norway-based developer Ocean Sun AS is one of the most high-profile tests yet of offshore solar technology.
WORLD
Microsoft, Activision weigh sale of some UK cloud-gaming rights
The sale could involve the cloud-based market rights for games in the UK to a telecommunications, gaming or internet-based computing company, the Bloomberg report said, citing people familiar with the matter. A private-equity company might also be interested, according to the report.
WORLD
OpenAI’s ChatGPT Bot probed by FTC over consumer harms
The document request was sent recently to the Microsoft Corp.-backed AI company seeking information on whether ChatGPT harms consumers, according to the person, who asked not to be named discussing a non-public investigation.
WORLD
Australian treasurer names Michele Bullock first female RBA Governor
“Bullock is the right person to lead the RBA into the future and ensure we have the world’s best and most effective central bank,” Jim Chalmers told reporters in Canberra on Friday. Her seven-year term will begin on Sept. 18.
WORLD
China unveils final version of generative AI rules
Among the 24 provisions are requirements for platform providers to carry out a security review and register their services with the government, as was stipulated in a draft version released in April.
WORLD
AI doomsday scenarios are gaining traction in Silicon Valley
As many in the AI industry shrugged or raised eyebrows at this assessment, he created the Machine Intelligence Research Institute with funding from Peter Thiel, among others, and collaborated on written work with futurists such as Nick Bostrom.
BUSINESS
EQT Asia fund plans to invest more than $3 billion in India
BPEA-EQT plans to commit nearly 30% of the $11.2 billion Baring Private Equity Asia Fund VIII, according to Jimmy Mahtani, a partner at the firm who is responsible for investments in India.
