The number of Americans applying for unemployment benefits declined slightly last week. However, re-employment opportunities are becoming scarce, indicating a persistently high unemployment rate for August. This trend has caught the Federal Reserve's attention, with expectations of possible interest rate cuts to address the labor market situation.
Krishan Bahadur Pathak steps into the role of India's first-choice goalkeeper after P R Sreejesh’s retirement. Pathak acknowledges the challenge but aims to meet Sreejesh’s high standards through dedication and discipline. His immediate test is the Asian Champions Trophy, with larger goals like the 2028 Olympics in sight.
Reliance Industries anticipates its new energy business to be as profitable as its oil-to-chemicals segment within the next 5-7 years, according to Chairman Mukesh Ambani. The business includes solar and fuel cell manufacturing, energy storage, and green hydrogen production. The company is on track with its investments and expects substantial contributions from its green energy ventures.
India's tyre exports surged by 17 per cent year-on-year in the first quarter of the current fiscal, reaching Rs 6,219 crore. The US emerged as the largest market. The rise is attributed to advanced technology products, competitive pricing, and branding efforts, along with improved demand prospects in key destinations.
Lupin has launched a generic cancer treatment drug, Doxorubicin Hydrochloride Liposome Injection, in the US market. The product is a generic version of Baxter Healthcare Corporation's Doxil and is used to treat ovarian cancer, AIDS-related Kaposi's Sarcoma, and multiple myeloma. The drug had an estimated annual sales of USD 40.9 million.
Coal India collaborates with IIT(ISM) Dhanbad and TEXMiN to establish the IMiN Center of Excellence for Mining 4.0. The initiative aims to enhance mining operations through digital transformation, focusing on productivity, safety, and sustainability. This partnership will drive innovation in the mining sector, fostering startup ecosystems and capacity building.
Scientists are using an ultralight aircraft to guide endangered northern bald ibises on their migration from Austria to Spain. Led by Johannes Fritz, the project involves human foster parents caring for the birds. Since 2002, the ibis population in central Europe has grown from zero to nearly 300. This year's journey is 186 miles longer due to climate change.
The company's shares were down 3.4% after it forecast third-quarter gross margins that could miss market estimates and revenue that was largely in line, spurring a selloff across chip stocks including Broadcom, Advanced Micro Devices and Arm.
Nifty rose by about 100 points on Thursday's expiry session, hitting a record high and finding strong support at 25,000. The "Saucer" formation suggests further gains if this support holds, with the highest Open Interest at 25,300 and 25,500 call strikes, and 25,000 put strikes.
Israel's military rescued a hostage from an underground Hamas tunnel in Gaza, highlighting the extensive tunnel network that shelters militant leaders. The operation underscores the challenge of navigating and neutralizing these tunnels, which have become a key obstacle in eradicating Hamas. The tunnels also pose significant risks to hostages held within.
The Philippines plans to spend at least $33 billion to upgrade its military with mid-range missiles and advanced fighter jets. Military chief Romeo Brawner and Defense Secretary Gilberto Teodoro have stated the country is reviewing offers to buy weapons. The U.S. and the Philippines are preparing for their largest joint military exercises next year.
Since taking office in July, Prime Minister Keir Starmer's government has been reviewing the costs of AI. It has already scrapped a planned 1.3 billion pounds' ($1.72 billion) worth of investment in related technologies - drawn up by the previous Conservative government - including an 800 million pound investment promised to develop a supercomputer at the University of Edinburgh.
Delhi's transport department is set to simplify the payment of traffic fines by sending automated notifications via SMS and WhatsApp. Violators can click on a link in the message to pay using multiple options, including Bhim UPI and Google Pay. This initiative aims to boost revenue and address the issue of missed notifications.
The Karnataka High Court dismissed a CBI petition challenging the Congress government's withdrawal of consent for investigating a disproportionate assets case against Deputy Chief Minister D K Shivakumar. The court ruled that issues raised should be addressed by the Supreme Court. The case has been referred to the Lokayukta for further investigation.
Arne Slot has started well as Liverpool manager after replacing Jurgen Klopp, winning two Premier League matches without conceding a goal. Slot's style retains much of Klopp's attacking and high-energy approach. Bigger challenges await, especially with contracts of key players like Salah and van Dijk ending after this season.
Reliance Retail plans to double its revenues and EBITDA over the next 3-4 years. It is venturing into luxury and fashion jewellery, launching new retail formats for mobiles and laptops, and expanding grocery retail in smaller towns. The company will enhance its presence in beauty and FMCG sectors while leveraging technology for better operations.
China has decided not to impose provisional tariffs on brandy imported from the European Union despite finding it was sold below market prices. This decision is seen as a negotiation tactic in ongoing trade talks, especially with EU's proposed duties on Chinese electric vehicles. The probe is expected to end by January 2025.
The Syama Prasad Mookerjee Port in Kolkata has launched the Bengal Middle East Express, a new container service linking Haldia Dock Complex with Jebel Ali Port in the UAE. This service aims to improve transit time and cost efficiency for regional traders by bypassing traditional transshipment ports.
The IT major has developed three generative AI solutions powered by its AI-offering Topaz, which make use of Nvidia NIM inference microservices, Nvidia NeMo Retriever embedding models, and NeMo Guardrails to customise and deploy generative AI telco domain-specific large-language models.
Domestic equity benchmarks Sensex and Nifty hit record highs on Thursday, boosted by heavyweight conglomerate Reliance Industries, which plans to step up the adoption of AI and issue bonus shares.
On Thursday, the BJP challenged the National Conference (NC), Peoples Democratic Party (PDP), and Congress to a public debate on terrorism, violence, and public security in Jammu and Kashmir. BJP J-K In-charge Tarun Chug criticized these parties for their handling of the situation in the 1990s and accused them of perpetuating violence and misleading claims about Article 370 and 35A.
JMM legislator Ramdas Soren from Ghatshila is poised to replace Champai Soren in the Jharkhand cabinet. Champai Soren resigned from the JMM, his ministerial post, and as an MLA, citing the party's current policies. He plans to join BJP. The oath ceremony for Ramdas Soren is expected at the Raj Bhavan soon.
The collapse of the Shivaji statue in Maharashtra was likely due to corroded nuts and bolts, causing a failure in the statue's steel frame, according to structural engineer Amresh Kumar. Despite claims of strong winds causing the downfall, corrosion was the primary factor. The statue's base 'ankles' are crucial for stability and needed better design consideration.
