Happy Thursday! Apple’s Mumbai and Delhi stores clocked record sales in their first month in India.from Tech-Economic Times https://ift.tt/e1Gw9sR
Apple India stores post sales record; PharmEasy breaches loan covenant; and Amazon’s ten-year India journey
Happy Thursday! Apple’s Mumbai and Delhi stores clocked record sales in their first month in India.from Tech-Economic Times https://ift.tt/e1Gw9sR
Rohini Nilekani Philanthropies to invest $3 million in Centre for Digital Public Infrastructure
Rohini Nilekani Philanthropies will make the investment over two years through non-profit Co-Develop. The CDPI is currently engaged with five countries: the Philippines, Bangladesh, Rwanda, Kenya and Ethiopia.from Tech-Economic Times https://ift.tt/DVo28Bc
EU, US to ready voluntary AI code of conduct
After talks with EU officials in Sweden, US Secretary of State Antony Blinken said that the Western partners felt the "fierce urgency" to act following the emergence of the technology, in which China has been a growing force.from Tech-Economic Times https://ift.tt/6cCfgDi
Amazon workers stage walkout over company’s climate impact, return-to-office mandate
The lunchtime protest comes a week after Amazon's annual shareholder meeting and a month after a policy took effect requiring workers to return to the office three days per week.from Tech-Economic Times https://ift.tt/TJZdFuB
US FTC settles privacy lawsuit with Amazon.com's Ring
As part of the FTC agreement with Ring, which is good for 20 years, Ring is required to disclose to customers how much access to their data the company and its contractors have.from Tech-Economic Times https://ift.tt/H0pS7Zs
No targeted ads for those below 18 years: AIGF in draft model charter for self regulatory body
AIGF, which is the apex industry body for online skill gaming in India has put together a draft of a model charter for the Self-Regulatory Body for online gaming intermediaries in accordance with the provisions of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021.from Tech-Economic Times https://ift.tt/P97krIV
Elizabeth Holmes in prison custody to begin 11-year sentence for notorious blood-testing hoax
As she begins her sentence, Holmes will be leaving behind two young children - a son born in July 2021 and a 3-month old daughter.from Tech-Economic Times https://ift.tt/mn8eSy5
Call of Duty Mobile, Candy Crush among most user data-hungry games in India: Report
Of the 50 most popular mobile gaming apps in India, 38 employ or share user data for third-party advertising purposes, the report stated.from Tech-Economic Times https://ift.tt/mqEBvKR
Binance Australia customers selling bitcoin at discount to rival exchanges
Earlier this month, the Binance unit said some customers in Australia will not be able to deposit or withdraw money after a third-party service provider cut off its service.from Tech-Economic Times https://ift.tt/Ec3XU8h
Sam Bankman-Fried's arguments to dismiss charges are meritless: Prosecutors
In papers filed in the Manhattan federal court, prosecutors responded to early May filings in which Bankman-Fried's lawyers insisted that the United States overreached in its case against Bankman-Fried, making federal crimes out of regulatory issues.from Tech-Economic Times https://ift.tt/103SkQE
Ant group’s early investor Primavera closes fourth fund at $4 billion
The fundraising by Primavera, which invests primarily in China but has diversified into Southeast Asia and North America over the years, comes amid global macroeconomic and geopolitical challenges that have weighed on dealmaking activities.from Tech-Economic Times https://ift.tt/JdBHNT9
Top four IT companies log 40% drop in large client additions in FY23
Top four IT majors, Tata Consultancy Services (TCS), Infosys, HCLTech and Wipro, added 80 large clients which are classified as deals in the $10 million to $100 million range in the fiscal ending 2023 versus 132 clients in FY22, according to ET’s analysis.from Tech-Economic Times https://ift.tt/JWHakYj
Used car startups take a U-turn as sales remain sluggish
With profitability still a far cry for venture-backed companies like Spinny, Cars24 and CarDekho, these platforms are either putting the brakes on business expansion or exiting the segment completely.from Tech-Economic Times https://ift.tt/lxTJ6tU
AI political fakery sparks fears for US 2024 race
The 2024 presidential race is expected to be the first American election that will see the widespread use of advanced tools powered by artificial intelligence that have increasingly blurred the boundaries between fact and fiction.from Tech-Economic Times https://ift.tt/GbSOBe7
World’s most valuable chipmaker Nvidia unveils more AI products after $184-billion rally
The wide-ranging new lineup includes an AI supercomputer platform called DGX GH200, which will help tech companies create successors to ChatGPT.from Tech-Economic Times https://ift.tt/XPS46m8
Arm rolls out new smartphone tech and MediaTek signs up to use
MediaTek, a longtime supplier of low- and mid-tier smart phone chips, has been pushing into the market to supply chips for premium smartphones, once dominated by rival Qualcomm Inc, which has been in a legal battle with Arm since last year over chip licensing agreements.from Tech-Economic Times https://ift.tt/cusVXQr
Exclusive: Sebi may review regulations for VC & PE funds, Cred‘s rejigging its lending strategy to tap more users
Capital markets regulator Securities and Exchange Board of India (Sebi) has sought suggestions from venture capital and private equity funds to potentially simplify regulations for the sector.from Tech-Economic Times https://ift.tt/yZhWSYd
Explainability key to easing AI worries, large-scale usage in biz: TCS’ Nidhi Srivastava
Last week, TCS announced an expanded partnership with Google Cloud and the launch of its new offering, TCS Generative AI which leverages Google Cloud’s generative AI services.from Tech-Economic Times https://ift.tt/pNu1G4w
Bhavish Aggarwal announces Ola Prime Plus service in Bengaluru
Aggarwal took to Twitter to announce the new service ‘Prime Plus’ which will offer “best drivers and top cars” for users.from Tech-Economic Times https://ift.tt/89Yb2Pl
Zypp Electric to deploy two lakh vehicles in its fleet, invest $300 million for expansion
The company, which is planning to enter new cities like Mumbai, Pune and Hyderabad is targeting a revenue of Rs 500 crore this year, up from Rs 125 crore last year.from Tech-Economic Times https://ift.tt/TMeUpKY
Here's what happens when your lawyer uses ChatGPT
As AI sweeps the online world, it has conjured dystopian visions of computers replacing not only human interaction but also human labor. The fear has been especially intense for knowledge workers, many of whom worry that their daily activities may not be as rarefied as the world thinks - but for which the world pays billable hours.from Tech-Economic Times https://ift.tt/HlMIFYS
Netflix starts to crack down on password sharing
The streaming giant sent out an email Tuesday to US members who are sharing their account with people living outside their household that made clear it would begin kicking people off the service if they were using someone's account for more than 30 days while at a different location.from Tech-Economic Times https://ift.tt/gPAvq0W
US judge rejects challenges to Apple's $50 million keyboard settlement
The plaintiffs' lawyers announced the deal a year ago. Apple denied any wrongdoing.Class members will receive $50 up to $395 based on the number and nature of repairs made to a keyboard.from Tech-Economic Times https://ift.tt/6h9GCkf
China, South Korea agree to strengthen talks on semiconductor industry
China's commerce minister Wang Wentao met with South Korean Trade Minister Ahn Duk-geun on the sidelines of the Asia-Pacific Economic Cooperation (APEC) conference in Detroit.from Tech-Economic Times https://ift.tt/yvAVahr
InfoEdge writes off investment in Bijnis; remains upbeat about investing in Indian startups
InfoEdge said write-off was “following the principles of conservatism and prudence”, after taking into account the B2B startup’s continued cash burn and limited availability of cash.from Tech-Economic Times https://ift.tt/10AmTFq
Twitter cannot hide from EU rules after exit from code, EU's Breton says
Companies which signed up to the code are required to provide regular progress reports with data on how much advertising revenue they had averted from disinformation actors.from Tech-Economic Times https://ift.tt/nMCHA4S
US jury says Google owes Sonos $32.5 million in smart-speaker patent case
The case is part of a sprawling intellectual property dispute between the former collaborators that includes other lawsuits in the US, Canada, France, Germany and the Netherlands.from Tech-Economic Times https://ift.tt/JSoYjKh
India's leading business and tech schools explore coexistence with artificial intelligence
While some institutes are jittery about students using artificial intelligence-driven language programmes to put together assignments and projects, most look at it as the next innovation frontier that is impossible to ignore, top officials told ET.from Tech-Economic Times https://ift.tt/B5tT3wR
Jobs in startupland shrink 30%; hikes fall amid funding freeze
Employees at startups are seeing only 10% annual hikes on the higher side, while many are even forced to take a 10% cut, show findings of a report.from Tech-Economic Times https://ift.tt/8qkxToa
Tencent offloads 2% stake in PB Fintech for Rs 562 crore
Tencent sold the shares for Rs 596.6 a piece, roughly 39% below PB Fintech’s IPO price of Rs 980. As per the latest transaction, Tencent's shareholding in PB Fintech has reduced to 6.28% from 8.37% (as of March 2023).from Tech-Economic Times https://ift.tt/Xyk0cdq
I-T department invites comments on draft rules for valuing startup investment by non-residents
Under the existing norms, only investments by domestic investors or residents in closely held companies were taxed over and above the fair market value. This was commonly referred to as an angel tax.from Tech-Economic Times https://ift.tt/IHCEscD
Hyundai, LG announce $4.3-billion plant in Georgia to build batteries for electric vehicles
The Hyundai-LG plant is supposed to be able to supply batteries for 300,000 electric vehicles per year, which is the initial projected production of the adjoining vehicle assembly plant.from Tech-Economic Times https://ift.tt/Q3UnOIh
OpenAI offers $100,000 grants for ideas on AI governance
The $100,000 grants will go to recipients who present compelling frameworks for answering such questions as whether AI ought to criticize public figures and what it should consider the "median individual" in the world, according to a blog post announcing the fund.from Tech-Economic Times https://ift.tt/zAyu8QU
Some betting apps continue advertising despite ban; fintechs push for decentralised KYC regime
Happy Friday. A bunch of gaming and getting firms continue operations and ads across online platforms despite a government ban. This and more in today’s edition of ETtech Morning Dispatch.from Tech-Economic Times https://ift.tt/wIWiYR9
What is Volt Typhoon, the alleged China-backed hacking group?
Nearly every country in the world uses hackers to gather intelligence. Major powers like the US and Russia have large stables of such groups - many of which have been given colourful nicknames by cybersecurity experts, like “Equation Group” or “Fancy Bear.”from Tech-Economic Times https://ift.tt/OTKZBJA
Acquirer of Silicon Valley Bank announces layoffs at the failed institution; no impact on team based in India
CEO Frank Holding said the move would only affect "select" corporate Silicon Valley Bank positions, adding that neither employees in customer-facing jobs, nor members of a team based in India, would be impacted.from Tech-Economic Times https://ift.tt/NxvLbVD
Twitter crashes during Ron DeSantis US presidential run announcement
Twitter outages have been more numerous under Musk's ownership. In March, thousands of users reported problems accessing links posted on the platform.from Tech-Economic Times https://ift.tt/IbA6d8O
Nvidia's results spark nearly $300 billion rally in AI stocks
Nvidia forecast quarterly revenue more than 50% above Wall Street estimates, with Chief Executive Officer Jensen Huang saying in a statement the company is "significantly increasing our supply to meet surging demand" for its data center chips.from Tech-Economic Times https://ift.tt/n0mUi71
Facebook owner Meta slashes business teams in final round of layoffs
Dozens of employees working in teams such as marketing, site security, enterprise engineering, program management, content strategy and corporate communications took to LinkedIn to announce that they were laid off.from Tech-Economic Times https://ift.tt/SWYJBPo
Tatas eye bigger play in electronics, semicon manufacturing; Matrix closes largest India fund at $550 million
Ahead of its possible foray into the semiconductor space, Tata Group is scouting land near its electronics manufacturing facility in Tamil Nadu to expand operations, sources told us. This and more in today’s ETtech Morning Dispatch.from Tech-Economic Times https://ift.tt/chFDr0G
Matrix logs in largest India fund at $550 million to help retain ownership in companies for longer
Matrix Partners began deploying its fourth India dedicated fund, originally intended to close at $450 million in size, a year ago, and has since backed 18-20 companies from the pool of capital.from Tech-Economic Times https://ift.tt/qVXkl70
Is Musk's DeSantis show a winning ticket for Twitter?
DeSantis is considered a credible challenger to seizing the Republican nomination from frontrunner Donald Trump in the 2024 election, and his tie-up with Musk's Twitter has generated buzz.from Tech-Economic Times https://ift.tt/r5C7lO1
Fast-fashion giant Shein plans Mexico factory
Shein was founded in China and manufactures most of its products there, but is seeking to diversify. The company sells $10 dresses and $5 tops and has taken market share from other affordable fashion retailers.from Tech-Economic Times https://ift.tt/qxFu7A0
Sequoia weighs La Renon Healthcare exit
Plans are still on the drawing board and the storied Silicon Valley venture capitalist (VC) may not necessarily follow through with them, the sources cautioned. Menlo Park-headquartered Sequoia Capital had invested a sum of $16 million in Pankaj Singh-founded La Renon Healthcare in June 2015 at a valuation of around $100 million.from Tech-Economic Times https://ift.tt/4FAt3x2
Banks, lenders wary as RBI tags C-KYC high risk; Snap bulking up India team in monetisation push
Centralised Know Your Customer (C-KYC) database, which was conceived as a solution to KYC challenges faced by financial institutions, has been flagged as high risk by the Reserve Bank of India, making lenders wary. This and more in today’s ETtech Morning Dispatch.from Tech-Economic Times https://ift.tt/QsNxir7
New FDI policy for space likely to be out in three months: IN-SPACe chairman Pawan Goenka
Policy may allow FDI under automatic route in satellites, launch vehicles, sub-systemsfrom Tech-Economic Times https://ift.tt/7iNZYyT
Netflix expands password-sharing crackdown worldwide
Netflix said early this year that more than 100 million households were sharing accounts at the service, "impacting our ability to invest in great new TV and films."from Tech-Economic Times https://ift.tt/93klWxC
Delhivery denies talks to acquire logistics firm Gati: filing
Media reports earlier on Tuesday said that Delhivery is in early talks with All Cargo Group's company Gati, citing sources.from Tech-Economic Times https://ift.tt/vC1KGfw
Allen Career Institute appoints former Meta executive Abha Maheshwari as CEO of edtech biz
Having entered the edtech sector in June last year, Allen wants to provide digital learning modules and crash courses for IIT Joint Entrance Exam (JEE) and National Eligibility cum Entrance Exam (NEET) segments.from Tech-Economic Times https://ift.tt/SvH8UgT
TCS to pocket about 80% of Rs 15,000 crore BSNL order
TCS informed the exchanges on Monday that it has received advance purchase orders (APOs) worth Rs 15,000 crore out of the around Rs 25,000 crore deal.from Tech-Economic Times https://ift.tt/WoSDfr1
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