RBI issues rules to regulate cross-border payment aggregators

The central bank sad that non-banks that provide cross-border payment aggregator (PA) services will have to apply for an authorisation from the regulator by April 30, 2024.

from Tech-Economic Times https://ift.tt/zWh0OUl

ONDC seller apps seek unique ID for network’s vendors

Seeing the same store being listed multiple times on the buyer app is not a great experience from a user perspective, they say.

from Tech-Economic Times https://ift.tt/pHCx4aJ

Biden administration aims to cut AI risks with executive order

The order, which he signed at the White House, requires developers of AI systems that pose risks to US national security, the economy, public health or safety to share the results of safety tests with the US government, in line with the Defense Production Act, before they are released to the public.

from Tech-Economic Times https://ift.tt/nFmNtOc

Google's Sundar Pichai says tech giant has improved the web for all consumers

Testifying on Monday in Google's landmark antitrust trial, Pichai directly contradicted the Justice Department's claims that his company's huge payments to companies such as Apple to be the default internet search option on their popular devices represent its unchecked monopoly power.

from Tech-Economic Times https://ift.tt/ZL18UH3

Telegram to ban channels that called for anti-Semitic riots in Russia's Dagestan

The popular messaging platform Telegram will block channels that called for anti-Semitic violence in Russia's Dagestan region, Telegram founder Pavel Durov said on Monday.

from Tech-Economic Times https://ift.tt/rG4D78E

VCs rope in Deloitte to work with Groyyo to shut its B2B trading business

New York-based investment fund Tiger Global is also believed to be engaging with another Big 4 audit firm for a potential forensic audit of Groyyo. However, it is not clear if that's been finalised yet.

from Tech-Economic Times https://ift.tt/01xu75Q

Google investigating multiple profile update bug found in Pixel phones

​​The problem was faced mostly by Pixel 6 owners as soon as the Android 14 update started rolling out. According to reports, the problems ranged from missing apps to being locked out of internal storage on one of users' devices.

from Tech-Economic Times https://ift.tt/DZgqEkc

Elon Musk says Starlink to provide connectivity in Gaza for aid organisations

Musk said in a post on social media platform X that it was not clear who has authority for ground links in Gaza, but we do know that "no terminal has requested a connection in that area".

from Tech-Economic Times https://ift.tt/lgTDKuJ

Mingle offline: Is online dating getting outdated?

Is online dating getting outdated? Six popular dating apps, including Tinder, Aisle, Truly Madly and OkCupid, have seen a drop in monthly active users in India

from Tech-Economic Times https://ift.tt/Atp2jxD

VinFast begins shopping for land to drive into the EV market in India

Vietnamese electric vehicle maker VinFast Auto is evaluating potential sites for its upcoming manufacturing facility and has already reviewed two locations in Tamil Nadu, people aware of the developments told ET.

from Tech-Economic Times https://ift.tt/MziLyk1

Elon Musk's X launches two new premium subscription plans

The Premium+ plan, priced at about $16 per month, includes all the tools and features offered by the platform, minus the ads, the company said in a post on the platform.

from Tech-Economic Times https://ift.tt/qT0aHXb

Amidst a funding winter, large startups show healthier balance sheets; and other tech stories this week

While some startups have shown profits, even those who haven’t been able to get into the black yet reported strong revenue and Ebitda numbers.

from Tech-Economic Times https://ift.tt/mC5TLKM

Churn on: Tata Digital loses another senior executive

Subramanian was formerly travel firm Cleartrip's head before joining Tata Digital in November 2021. He is considering setting up his own venture but it is not finalised yet.

from Tech-Economic Times https://ift.tt/wFBzHaO

How Elon Musk changed the meaning of Twitter for users

It has been one year since Elon Musk bought Twitter. Since then, the meaning of the social media service has changed — sometimes drastically — for many of the people who use it.

from Tech-Economic Times https://ift.tt/dVwbaEX

Google executive testifies innovation key to avoid becoming 'next road kill'

Google executive Prabhakar Raghavan testified at the ongoing antitrust trial in the suit brought by the US Justice Department and a coalition of state attorneys general, alleging Alphabet's Google unlawfully abused its dominance in the search-engine market to maintain monopoly power.

from Tech-Economic Times https://ift.tt/2AGL61E

Mamaearth parent sets IPO price band; Meta's ad biz boosts Q3 profits

Mamaearth parent Honasa Consumer has set a price band of Rs 308-324 per share for its upcoming initial public offering (IPO). This and more in today’s ETtech Top 5.

from Tech-Economic Times https://ift.tt/2lqN4U0

FTX founder Sam Bankman-Fried testifies outside jury's presence

Bankman-Fried's risky decision to testify gives prosecutors the chance to cross-examine the 31-year-old former billionaire about those claims that he told colleagues to commit crimes.

from Tech-Economic Times https://ift.tt/ErzoKlP

Making content more accessible for disabled: OTTs

The OTT service providers were responding to a letter sent by the ministry of information & broadcasting (MIB) last month. The ministry had written to two industry bodies that represent these companies after the Delhi High Court issued an order to make films and other content accessible to persons with disabilities.

from Tech-Economic Times https://ift.tt/NGt3OVv

Amazon analysts expect same-day delivery to boost margins in Q3

Same-day delivery is now offered in at least 90 cities, free for Prime members while non-members pay $9.99. The retailer invested heavily in 2020 and 2021 in logistics to make same-day delivery, which it introduced in 2015, available in more places.

from Tech-Economic Times https://ift.tt/O7v3jsQ

Amazon rolls out AI-powered image generation to empower advertisers

Amazon Ads has started rolling out image generation to select advertisers and will expand availability over time.

from Tech-Economic Times https://ift.tt/qsPw0MB

Instagram testing feed only for paid verified users

Instagram head Adam Mosseri said that the company is "exploring this as a new control for people and a way for businesses and creators to get discovered".

from Tech-Economic Times https://ift.tt/zlgV3qd

Amazon rolls out passwordless sign-ins for users on iOS and web

Amazon is rolling out passkey support on browsers and mobile shopping apps (iOS users), making it easier and safer for the customers to access their accounts with passwordless sign-in.

from Tech-Economic Times https://ift.tt/HrGXAxB

HCLTech may not offer wage hikes to middle and senior-level staff in FY24

The classification of E0 – E2 employees range from freshers to technical leaders and E3 – E6 employee band are those with mid-level positions ranging starting from project managers up to vice presidents. E7 and above are the senior-level employees.

from Tech-Economic Times https://ift.tt/ezUaFx7

Festive sales may fetch Flipkart up to Rs 36,000 crore in gross sales

This year, during the first week of the festive season sales on ecommerce marketplaces, GMV grew by about 18% to around $4 billion, according to Datum Intelligence, a market research firm.

from Tech-Economic Times https://ift.tt/Iw86U9u

Top IT companies boost margins amidst market struggles

To be sure, Infosys, HCLTech and Wipro have slashed their revenue guidance for the upcoming quarter and full fiscal amid a freeze on tech spends and delay in decision making.

from Tech-Economic Times https://ift.tt/2jUC0Bk

Martin Goetz, who received the first software patent, dies at 93

In 1968, nearly a decade after he and several other partners started the company Applied Data Research, Martin Goetz received his patent, for data-sorting software for mainframes. It was major news in the industry: An article in Computerworld magazine bore the headline "First Patent Is Issued for Software, Full Implications Are Not Known."

from Tech-Economic Times https://ift.tt/O3cGgBD

Indian IT companies likely staring at slowest growth since start

For the country’s fourth-largest IT services provider Wipro, growth numbers are down to their FY99 levels.

from Tech-Economic Times https://ift.tt/romxP8I

WhatsApp Business tests new 'quick action bar' feature on Android

Currently, the quick action bar feature is available to some beta testers who install the latest versions of WhatsApp Business beta for Android, and it will roll out to more people over the coming days.

from Tech-Economic Times https://ift.tt/ncFQYNC

49% of teachers not prepared for AI impact, need urgent support: Report

As artificial intelligence (AI) becomes all-pervasive, at least half (49 per cent) of the teachers feel unprepared for its impact, saying more must be done to empower and help them prepare students for an AI-enabled future, a new report has revealed.

from Tech-Economic Times https://ift.tt/Iz9SjEg

SpaceX aims for 12 launches a month as it eyes satellite-based phone service

Elon Musk-run aerospace company SpaceX aims for 12 launches per month, or one launch in less than three days, the media reported.

from Tech-Economic Times https://ift.tt/rHJI0jG

Foxconn subsidiaries faces tax audit, land use probe: report

China's natural resources department conducted on-site investigations on the land use of enterprises of Foxconn in Henan, Hubei provinces and other places

from Tech-Economic Times https://ift.tt/JtEOvor

Web Summit CEO resigns after comments on Israel-Hamas conflict

Web Summit Chief Executive and founder Paddy Cosgrave resigned on Saturday after comments he made on the Israel-Hamas conflict prompted some technology companies and investors to withdraw plans to attend its conference in Portugal next month.

from Tech-Economic Times https://ift.tt/l9yA36a

New-age brokers ride on futures option to the bank

But the question remains with Sebi becoming careful about the sudden spurt in retail participation in this risky trading segment, how long will the party last?

from Tech-Economic Times https://ift.tt/ZsPkmSN

Apple's new film strategy debuts with 'Killers of the Flower Moon'

Until now, Apple's films were streaming-first. But "Killers of the Flower Moon" won't reach its streaming service, Apple TV+, for at least 45 days. It is Apple's clearest embrace of movie theaters since the start of Apple TV+ four years ago, and the first of three major theatrical releases from the company scheduled for the next six months.

from Tech-Economic Times https://ift.tt/dIJ8xVc

As Google pushes deeper into AI, publishers see fresh challenges

Since May, Google has begun rolling out a new form of search powered by generative AI, after industry observers questioned the tech giant's future prominence in providing consumers with information following the rise of OpenAI's query-answering chatbot, ChatGPT.

from Tech-Economic Times https://ift.tt/GqkHMi0

Wipro reports muted Q2, net profit almost flat at Rs 2,667 crore

India's fourth-largest software company also gave a tepid outlook, citing an "uncertain" business environment.

from Tech-Economic Times https://ift.tt/Ib1Zgw5

Celesta Capital to play on front foot on startup investments

India is the most interesting place after Silicon Valley and it is an exciting time for India’s startup ecosystem, Kumar said.

from Tech-Economic Times https://ift.tt/y2O46Bs

Showroom B2B raises $6.5 million in funding led by Jungle Ventures

The latest round of funding will help scale the company’s experience store model across Tier II and III markets in India, as per a statement. These stores facilitate access to garment samples and catalogues for fashion retailers and wholesalers.

from Tech-Economic Times https://ift.tt/3kuCGf0

AWS previews customisation ability of coding assistant CodeWhisperer

Amazon CodeWhisperer is an artificial intelligence (AI) coding companion that generates real-time single-line or full-function code suggestions for developers.

from Tech-Economic Times https://ift.tt/nY7gVmG

Qualcomm, Google partner to make RISC-V chip for wearable devices

RISC-V, pronounced as "risk five," is an open-source technology that competes with costly proprietary technology from British chip designer Arm Holdings.

from Tech-Economic Times https://ift.tt/068zlKW

WhatsApp rolls out passwordless logins with passkeys on Android

Passkeys were previously being tested by WhatsApp in its beta channel, but it's now coming to regular users. There is still no information on support for WhatsApp passkeys on iPhones.

from Tech-Economic Times https://ift.tt/yKRNFZL

US tackles loopholes in curbs on AI chip exports to China: official

The new rules will be added to sweeping US restrictions on shipments of advanced chips and chipmaking equipment to China unveiled last October.

from Tech-Economic Times https://ift.tt/c7lCwmh

Tether freezes $873,000 in crypto linked to 'terrorism and warfare' in Israel and Ukraine

Tether did not provide details of the owners of the addresses, when they were frozen, nor the nature of their activity. It also did not provide a breakdown of the split between Ukraine-related and Israel-related addresses.

from Tech-Economic Times https://ift.tt/WM4t5Gy

Ecommerce festive sales off to a bright start on deep discounts

Brands and ecommerce platform executives said they have seen a better-than-expected start to festive season sales at the end of the first week, with deep discounts, shaking off concerns around an impact from the ‘Shradh’ period, which lasted till October 15.

from Tech-Economic Times https://ift.tt/0r6Ihk7

Flipkart claims 1.4 billion customer visits during Big Billion Days sale

Flipkart claimed that the artisan community, onboarded under its Samarth programme, observed a six-fold growth compared to the pre-festive period.

from Tech-Economic Times https://ift.tt/B0zwQ3S

Disney+Hotstar creates new viewership record of 3.5 crore in India-Pak match

With this, it has surpassed the peak concurrency of 3.2 crore in the IPL finale between Chennai Super Kings and Gujarat Titans, played earlier this year.

from Tech-Economic Times https://ift.tt/UP4Zewm

Global AI guidelines 'normative', unclear about implementation, say researchers

To determine if a global consensus existed regarding the use of artificial intelligence (AI), the researchers identified and analysed 200 documents related to AI ethics and governance published between 2014 and 2022 from 37 countries and six continents and written or translated into five different languages - English, Portuguese, French, German and Spanish.

from Tech-Economic Times https://ift.tt/QrJBMai

How UPI tips the scale against hotel staff

Guests widely shifting to online payments is threatening tip culture, hurting employees’ income

from Tech-Economic Times https://ift.tt/isPjvzl

EU warns Google over YouTube disinformation in wake of Hamas attack

In the latest in a series of messages to tech CEOs that has already seen him sparring with Elon Musk on X, formerly Twitter, the EU industry commissioner wrote to Alphabet CEO Sundar Pichai.

from Tech-Economic Times https://ift.tt/AspwY9g

EV scooter makers deposit customer refunds; IT firms see dip in hiring

Four e-scooter makers have deposited part of the over Rs 300 crore they have to refund to buyers for mispricing their ebikes to avail of subsidies.

from Tech-Economic Times https://ift.tt/zxWr0Ap

Lens on payment firms seeking aggregator tag

In the payments business, access to sensitive data needs to be monitored and many payment companies do not have such access controls, or do not maintain proper audit checks. The regulator wants fintechs to be serious about these aspects of business before they are issued a licence.

from Tech-Economic Times https://ift.tt/UNsEOIF

47% of Indians to surpass Rs 10,000 in festive spending this year: ShareChat & Moj festive report

This year, the platforms said home improvement has made a strong entry into the top three product categories that Indians are likely to spend on while clothing and mobile phones continue to dominate the purchase categories.

from Tech-Economic Times https://ift.tt/Enw8LyX

Caltech ends high-stakes US patent fight with Apple and Broadcom

Pasadena, California-based Caltech sued Apple and Broadcom in 2016, alleging that millions of iPhones, iPads, Apple Watches and other Apple devices using Broadcom chips infringed its wireless-communication patents.

from Tech-Economic Times https://ift.tt/jkG0DPI

Fintech startup Jiraaf raises $8.7 million in funding led by Accel, Harmony Partners

“We will be using this money to mainly build our team, improve customer service across categories of business and also for originating more customers,” said cofounder Saurav Ghosh.

from Tech-Economic Times https://ift.tt/8ASB1uh

Internet companies Google, Amazon and Cloudflare report biggest-ever denial of service operation

Denial of service is among the web's most basic form of attack and it works by simply overwhelming targeted servers with a firehose of bogus requests for data, making it impossible for legitimate web traffic to get through.

from Tech-Economic Times https://ift.tt/D3uAUI0

Karnataka’s new procurement policy aims to give slice of government business to startups

The government has not decided on the share of procurement that should go to startups, but it’s speculated that the figure may be set at 5%.

from Tech-Economic Times https://ift.tt/9T05Ezt

Rule curbing AI chip exports to China under final review

The regulation on controls on high-end chips, advanced computing integrated circuits (ICs), and supercomputing was received for review on Oct. 10, according to the Office of Management and Budget website.

from Tech-Economic Times https://ift.tt/cJVIxbz

OECD publishes treaty that would replace national digital taxes

The release of the text puts pressure on the United States in particular, where a two-thirds majority in the deeply divided Senate is needed to ratify treaties. The document is the first pillar of a two pillar overhaul of rules for the cross-border taxation of multinational companies, which was agreed in 2021 by nearly 140 countries but whose implementation is proving slow and complicated.

from Tech-Economic Times https://ift.tt/bEU6enN

Govt to seek info from YouTube, Telegram on curbing sleaze; InsuranceDekho raises $60M in funding

Social media companies may have to provide detailed information on the steps they’ve taken to curb pornographic and child sexual abuse material on their platforms. This and more in today’s ETtech Morning Dispatch.

from Tech-Economic Times https://ift.tt/vQkrAmW

Jungle Ventures launches programme to invest $2 million or above in seed capital

Jungle Ventures invests in early- to growth-stage companies in Southeast Asia and India. Its portfolio includes Moglix, Livspace, Builder.ai and Atomberg among Indian startups.

from Tech-Economic Times https://ift.tt/1fBVQbK

Apple updates iPhone 12 software to address France's radiation testing

Apple has disputed the findings of French regulators who said that the iPhone 12, which has been on the market for three years, gave off more than permissible amounts of radiation and halted sales of the device.

from Tech-Economic Times https://ift.tt/CE17kS4

Ninjacart helping farmers to reach more buyers: CEO Kartheeswaran KK

Ninjacart is aiming to post revenue of more than Rs 2,500 crore in fiscal 2024, compared with about Rs 1,212.5 crore that it made in the last fiscal year ended March 2023, CEO Kartheeswaran KK told ET in an interview.

from Tech-Economic Times https://ift.tt/Pcfutmq

Online bargains recede as festive sales outperform; Dunzo reviews expenses to conserve cash

Ecommerce discounts and promotional offers came down on the third day of the biggest annual online festive sales, as brands and online sellers over achieved their targets in sales by value compared to the year-ago period. This and more in today’s ETtech Morning Dispatch.

from Tech-Economic Times https://ift.tt/rsfYhvt

Razorpay leans on existing customers on signup freeze

On Monday, Razorpay launched its latest solution, Optimizer, which will allow businesses with large transaction volumes to avoid failures by rerouting them in real time.

from Tech-Economic Times https://ift.tt/fDtYB9T

India market to turn largest for Zoho in 10 years: founder Sridhar Vembu

Vembu, who operates out of his native town Tenkasi, said the prediction is driven by India's demographic advantage as it witnessed more than 20 million child births last year, which is higher than the US, China, Japan and South Korea combined.

from Tech-Economic Times https://ift.tt/m2O3xe8

Collaborative commerce platform Oyela raises Rs 14.4 crore led by Prime Venture Partners

The company said it will use the funds to develop ecommerce technology, build chatbots for selling on various platforms with public profiles like Pinterest, YouTube, Threads as well as streamline the supply chain to help people set up and expand their own Instagram stores.

from Tech-Economic Times https://ift.tt/Y9cCGyo

Zepto CEO's big sales target; sustainable ventures in focus for public markets at ET Startup Awards 2023

India's newest unicorn Zepto has set its sights on an ambitious sales target, CEO Aadit Palicha said during The Economic Times Startup Awards 2023 (ETSA).

from Tech-Economic Times https://ift.tt/gaOpoWh

ET Startup Awards 2023 | Pedigree of India's tech ecosystem firmly established: Rajeev Chandrasekhar

The minister said in the past there was some scepticism about young Indians building companies and startups. But over the past five to six years "the confidence amongst the world's investors, consumers, companies, and enterprises about the capabilities that this generation of entrepreneurs bring to bear is unprecedented", he added.

from Tech-Economic Times https://ift.tt/CoqfA13

ET Startup Awards 2023 | Chant profitability, sustainability, with us: panel on Awards night

A high-powered panel, with some of the top names from India’s tech brigade, discussed the new order and how they were laying the foundation for sustainable revenue and profitability. The panel also touched upon how the focus for startups continues to be public markets.

from Tech-Economic Times https://ift.tt/gKf3jvA

ETSA at the time of World Cup: pitstop on way to Chepauk

As it turns out, the ETSA event was a happening pitstop for entrepreneurs on the way to watch India take on five-time ICC world champions Australia at the Chepauk stadium.

from Tech-Economic Times https://ift.tt/OrPmCgv

ET Startup Awards 2023: Profitability the ‘biz’word for Indian startups now

With union minister for commerce and industry Piyush Goyal and minister of state for electronics and information technology Rajeev Chandrasekhar as the guests of honour, ET feted eight startup champions at a gala ceremony in Bengaluru on Saturday.

from Tech-Economic Times https://ift.tt/RUH2AxT

ET Startup Awards | Funding winter only in the mind, there is enough cash available for good ventures: Piyush Goyal

The minister urged industry to promote India-made goods and inform customers of the country of origin as they should be given a choice to be part of ‘Aatmanirbhar Bharat’.

from Tech-Economic Times https://ift.tt/k2utJSn

Aditya-L1 spacecraft healthy, on its way to the Sun-Earth L1 point: ISRO

Aditya-L1 had escaped Earth’s sphere of influence on September 30. It underwent a trajectory correction manoeuvre (TCM) on October 6 for about 16 seconds, the space agency said.

from Tech-Economic Times https://ift.tt/oSGeZU4

Microsoft likely to unveil its first AI chip next month to cut Nvidia GPU costs

Microsoft's data centre servers currently use Nvidia GPUs to power cutting-edge LLMs for cloud customers, including OpenAI and Intuit, as well as for AI features in Microsoft's productivity apps.

from Tech-Economic Times https://ift.tt/eA9vsOb

Thane payment gateway fraud: Rs 16,180 crore siphoned off after hacking

​​The fraud was taking place since long and came to light following a complaint lodged with Srinagar police station in Maharashtra's Thane city of hacking of the payment gateway account of the company here in April 2023 and Rs 25 crore being siphoned off, an official from Naupada police station said.

from Tech-Economic Times https://ift.tt/SZQCjzD

Intel prepares for Windows 'refresh' amid likely Windows 12 launch

The company last month previewed the next generation of Intel Xeon processors, revealing that 5th Gen Intel Xeon processors will bring a combination of performance improvements and faster memory, while using the same amount of power, to the world's data centres when they launch on December 14.

from Tech-Economic Times https://ift.tt/oiPWZFb

Elon Musk's X now showing 'clickbait' ads that users can't block or report

According to a report from digital news platform Mashable, these new X ads don't allow users to like or retweet the ad posts and the new ad format also doesn't disclose who is behind the ad.

from Tech-Economic Times https://ift.tt/HzsDQTq

Google shipped almost 40 million Pixel phones since 2016, 10 million in last 12 months

The all-new Pixel 8 and Pixel 8 Pro smartphones with next-gen AI capabilities, and Pixel Watch 2 are now available in India.

from Tech-Economic Times https://ift.tt/qeT9SI3

ET Startup Awards 2023 | Strong vote of confidence a boost for startups Inc

Optimism takes centre stage as entrepreneurs, investors and policymakers gather to celebrate the best of new economy

from Tech-Economic Times https://ift.tt/ZOKYQ9X

Alphabet CEO Sundar Pichai set to testify in Google Play trial

Pichai and Epic’s CEO Tim Sweeney have been listed as witnesses in a trial scheduled to start Nov. 6 in San Francisco federal court over whether Google Play policies are unlawful and thwart competition, according to court filings.

from Tech-Economic Times https://ift.tt/fzwcG3v

BBC blocks OpenAI data scraping, to harness Generative AI

The BBC's director of nations, Rhodri Talfan Davies, believes that the use of artificial intelligence (AI), specifically Generative AI (Gen AI), can provide opportunities to deliver more value to audiences and society. He also stated that Gen AI has the potential to help teams work more effectively and efficiently across various areas.

from Tech-Economic Times https://ift.tt/HKtYg2X

Amazon launches first test satellites for Kuiper internet network

Amazon successfully launched its first pair of prototype satellites for its Kuiper internet network from Florida. The launch is the first step in Amazon's plan to deploy thousands more satellites to provide global internet service and compete with SpaceX's Starlink.

from Tech-Economic Times https://ift.tt/8qZtvWi

Winners of The Economic Times Startup Awards 2023 to be feted today, and other top tech, startup stories this week

The Economic Times Startup Awards, honoring Indian entrepreneurs, will take place in Bengaluru. The winners across eight categories were announced, including OfBusiness as Startup of the Year and Jishnu Bhattacharjee of Nexus Venture Partners as Midas Touch winner. The event will also feature a panel discussion on sustainable businesses.

from Tech-Economic Times https://ift.tt/KjPmw9L

All roads lead to The Economic Times Startup Awards 2023 in Bengaluru today

Union minister for commerce and industry Piyush Goyal and minister of state for electronics and IT Rajeev Chandrasekhar will be the guests of honour at the high-octane event.

from Tech-Economic Times https://ift.tt/KGC6BEr

Several US regulators seek information from Kazakh fintech Freedom

In August, Freedom was under attack from Hindenburg that said its research into the company had revealed "hallmark signs of fake revenue" and market manipulation in both its investments and stock.

from Tech-Economic Times https://ift.tt/kvsGqnr

Tesla engineer defends 'full self-driving' name at crash trial

The lawsuit, filed in a California state court, alleges the Autopilot system caused owner Micah Lee's Model 3 to suddenly veer off a highway east of Los Angeles at 65 miles per hour (105 kph), strike a palm tree and burst into flames, all in the span of seconds.

from Tech-Economic Times https://ift.tt/CnTQxvw

Nvidia rival Graphcore in need of funding as losses mount

Graphcore produces AI chips called intelligence processor units (IPUs) that aim to take on Nvidia. It reported pre-tax losses widened 11% to $204.6 million, according to a filing of its 2022 financial statements filed Wednesday.

from Tech-Economic Times https://ift.tt/kRvXlSC

Belgian intelligence service monitors Alibaba hub over 'espionage' worry: report

Alibaba signed an agreement with the Belgium government in 2018 to open an ecommerce trade hub, run by its logistics arm Cainiao, that would include investment in logistics infrastructure.

from Tech-Economic Times https://ift.tt/WxHmG34

SoftBank's Masayoshi Son says AI will surpass human intelligence in a decade

It will affect every industry, from transportation and pharmaceuticals to finance, manufacturing, logistics and others, and the companies and people that work with AI will be the leaders in the next 10 to 20 years, Son said.

from Tech-Economic Times https://ift.tt/We7Eki4

EV ride-hailing startup BluSmart tweaks fare structure in Delhi-NCR to expand customer base

The company has reduced the range of its fare slabs from 5 km to 3 km to offer more fare choices to consumers. Further, BluSmart last increased its base fare to Rs 149 in December 2022, up from Rs 139 in August 2022, Rs 119 in April last year, and Rs 99 in December 2021.

from Tech-Economic Times https://ift.tt/OaNHePr

Ex-Tesla factory worker loses bid for new trial in race bias case

US District Judge William Orrick in San Francisco in a written order upheld a $3.2 million verdict that a jury awarded to plaintiff Owen Diaz in April, denying his motion for a new trial while also rejecting Tesla's bid to cut the award in half.

from Tech-Economic Times https://ift.tt/JMNfXTy

NPCI to sign pact with Al Etihad Payments of UAE for cross-border transactions

​​The memorandum of understanding (MoU) aims to develop the domestic card scheme of the UAE based on India's RuPay debit and credit card stack.

from Tech-Economic Times https://ift.tt/KaOSXjY

Gaming major Krafton launches incubator programme for Indian startups

The incubator programme will enrol between six to ten “teams” every year, and offer between $50,000 and $150,000 as funding support, with “exceptional” teams getting up to $250,000.

from Tech-Economic Times https://ift.tt/k7M5E2s

Meta to lay off employees in metaverse silicon unit

Employees were informed of the layoffs in a post on Meta's internal discussion forum Workplace on Tuesday. The post said they would be notified about their status with the company by early Wednesday morning, one of the sources said.

from Tech-Economic Times https://ift.tt/SnhEgyc

Russian court rejects Apple appeal against abuse of dominant market position: report

Russia's federal anti-monopoly service (FAS) fined Apple in January over what it said was the US company's abuse of its dominant market position.

from Tech-Economic Times https://ift.tt/dntsTJB

WeWork misses $95 million in interest payments

WeWork has chosen not to make two interest payments totaling $95 million, in an effort to kick-start negotiations with its lenders and reduce costs with landlords. Although this move may prompt speculation of a potential bankruptcy filing, WeWork claims to have enough cash on hand.

from Tech-Economic Times https://ift.tt/jOm1NGs

Visa launches $100 million venture fund for generative AI startups

Generative AI is a technology that creates brand new content based on what it has learnt from past data.

from Tech-Economic Times https://ift.tt/FSyGJ5d

TikTok parent ByteDance's valuation slumps to $223.5 billion in stock buyback: report

Chinese company ByteDance is reportedly buying back shares from its U.S. employees at a valuation of $223.5 billion, down 26% from the previous year. The company aims to purchase at least $300 million worth of stock from current and former employees. This comes as the private investment market experiences a decline in valuations due to the waning effects of the pandemic-era exuberance.

from Tech-Economic Times https://ift.tt/O9LS1C4

NeoGrowth evaluates strategic deal as business becomes profitable

The Mumbai-based NBFC has reported a net profit in the last fiscal after two years of losses, now its stakeholders are evaluating if they can exit on a high.

from Tech-Economic Times https://ift.tt/JWBx8fh

Elon Musk's X hit with trademark lawsuit from marketing agency

The lawsuit by X Social Media claims that X Corp, which owner Elon Musk began rebranding to X from Twitter in July, was likely to cause consumer confusion.

from Tech-Economic Times https://ift.tt/SbVNAW7

China moves to strengthen innovation in smart driving

China plans to support firms in the smart vehicle supply chain to form innovation consortia in order to foster technological breakthroughs and spread innovation in the field of assisted and autonomous driving. The country aims to establish standards for intelligent connected vehicles by 2025 and become a leading global player in the industry.

from Tech-Economic Times https://ift.tt/XwsN0H4

Sam Bankman-Fried explored paying Donald Trump not to run for president, book excerpt says

Former billionaire Sam Bankman-Fried, who is currently in jail, considered paying Donald Trump not to run for re-election in 2020, according to a forthcoming book by Michael Lewis. Bankman-Fried was also planning to give millions to Republican Senator Mitch McConnell to defeat "Trumpier" candidates in the Senate races.

from Tech-Economic Times https://ift.tt/chjt8pN

Japanese startup develops 'Gundam'-like robot with $3 million price tag

Tokyo-based start-up Tsubame Industries has developed a 4.5-meter-tall robot called ARCHAX, which resembles the popular Japanese animation series "Mobile Suit Gundam." Priced at $3 million, the robot has cockpit monitors that allow the pilot to control its movements using joysticks.

from Tech-Economic Times https://ift.tt/G34NJUw

Piyush Goyal, Rajeev Chandrasekhar to grace ET Startup Awards ceremony; Dunzo cofounder to exit

The awards ceremony of the Economic Times Startup Awards 2023, scheduled to be held in Bengaluru on October 7, will see Union minister of commerce and industry Piyush Goyal and minister of state for information technology Rajeev Chandrasekhar attending as guests of honour. This and more in today’s ETtech Morning Dispatch.

from Tech-Economic Times https://ift.tt/CHGgz1r

Neobanking company Fi’s revival hinges on its credit offerings

Internally, the Fi is experimenting with a new user onboarding flow called Fi Lite, where customers are not mandated to open a digital banking account anymore, rather can directly opt for credit products. Fi is also planning to rejig its one-time joining fee of Rs 2,000 for credit card customers to expand its card base.

from Tech-Economic Times https://ift.tt/E4PqyzF

Meta technology chief defends tech titan's AI strategy

Meta unveiled AI-infused chatbots with personalities at the gathering, along with tools for creating images or written content using spoken prompts. The company that owns Facebook and Instagram has been seen as lagging rivals like Microsoft and Google, which have pushed out generative AI products and invested heavily in the technology seen as a force poised to shape the future.

from Tech-Economic Times https://ift.tt/l72webQ

India's private space sector skyrockets

There are now 190 Indian space startups, twice as many as a year earlier, with private investments jumping by 77% between 2021 and 2022, according to Deloitte consultancy.

from Tech-Economic Times https://ift.tt/bJTaQHW