Cipla, a leading pharmaceutical company, witnessed a sharp decline in its share prices by over 8 percent following scrutiny from the US health regulator regarding manufacturing irregularities at its Pithampur facility in Madhya Pradesh. The market cap of the company also took a hit, decreasing by a significant margin. Share Price Drop The stock of […]
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In a surprising turn of events, Sam Altman has been removed from his position as CEO of OpenAI, the organization behind the development of the AI chatbot ChatGPT. The decision was made by the company’s board, citing a loss of confidence in Altman’s leadership capabilities. Reason for Departure Altman’s dismissal came after a thorough review […]
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Netflix is actively expanding its workforce, with a focus on bolstering its advertising and gaming initiatives, product development teams, and more. The company’s careers page currently lists over 400 job openings, reflecting its growth trajectory and strategic priorities in various business areas. Growth Trajectory After facing challenges in 2022, including subscriber losses and organizational restructuring […]
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Waymo, the Alphabet-owned autonomous driving company, has received approval from the California Public Utilities Commission (CPUC) to expand its driverless vehicle operations in Los Angeles and additional parts of the Bay Area. Despite opposition from major cities and local authorities, including Los Angeles, San Francisco, and the County of San Mateo, Waymo’s bid to extend […]
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Rockstar Games, the renowned developer behind the iconic “Grand Theft Auto” series, is mandating a return to office for its employees as it gears up for the highly anticipated launch of “Grand Theft Auto VI.” This directive, set to commence in April, underscores the company’s commitment to maintaining productivity and safeguarding its intellectual property amidst […]
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In the aftermath of Google’s stumble with its Gemini AI chatbot, questions abound regarding the role and capabilities of chatbots in our digital landscape. The incident, characterized by attempts to rectify bias resulting in a bot with overt biases, has ignited debates about the true purpose and potential pitfalls of AI-driven conversational agents. Unpacking the […]
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The Indian government is reportedly contemplating a request from Tesla, led by Elon Musk, to reduce tariffs on imported electric vehicles (EVs) as part of efforts to facilitate the establishment of a manufacturing plant in the country. Tariff Concession Request Tesla has urged the government to consider reducing tariffs, which currently stand at 70% for […]
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Major automakers in India, including Maruti Suzuki and Tata Motors, have announced plans to increase vehicle prices starting January 2024. This decision comes amidst a backdrop of rising inflation and commodity prices, prompting companies to pass on increased costs to consumers. Reason for Price Hike Unlike previous instances where changes in taxes drove price hikes, […]
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As the Dusshera-Diwali festive season approaches, Indians are displaying restraint in their clothing purchases compared to last year. Factors such as inflation and economic concerns have contributed to a subdued market atmosphere, leading to sluggish sales and increased reliance on discounts. Merchant Pessimism and Sales Projections According to a survey conducted by the Clothing Manufacturing […]
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Changpeng Zhao (CZ), the founder of Binance, announced his resignation as CEO of the world’s largest cryptocurrency exchange after pleading guilty to federal charges and agreeing to pay $4.3 billion in fines. Binance Holdings Limited (Binance) has also pleaded guilty and agreed to settle the US Justice Department’s investigation into violations, paying over $4 billion. […]
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