Author: News Desk
In a strategic move aimed at enhancing transparency and clarifying governance, OpenAI has reshaped the management of its venture capital arm, the OpenAI Startup Fund. The significant alteration, documented in a filing with the US Securities and Exchange Commission (SEC) dated March 29, signals a departure from the unconventional ownership arrangement involving the prominent figure of Sam Altman, former president of startup accelerator Y Combinator and CEO of OpenAI. The adjustment comes amidst raised eyebrows over Altman’s ownership and control of the fund, particularly due to its atypical structure. Although marketed akin to a corporate venture arm, Altman managed the…
Starting from April 1st every year, the new financial year heralds changes in various rules related to financial transactions. This year, the Indian Railways has introduced a significant change regarding the payment of general tickets, aiming to alleviate the travel hassles for millions across the country. Effective April 1, 2024, railway passengers can now purchase general train tickets using digital QR codes, facilitating transactions through UPI (Unified Payments Interface). This service has been initiated at numerous railway stations nationwide. In a bid to reduce congestion at railway stations and advance the Digital India initiative, Indian Railways has further announced the…
In the realm of corporate compensation, reality often surpasses imagination. Recently, at IBM, a monumental salary hike of Rs 30 crore became a tangible reality for one individual. Let’s delve into the details surrounding this extraordinary event, shedding light on the company and the individual at its centre. Indian CEOs Making Waves on the Global Stage In today’s corporate landscape, CEOs of Indian descent are making significant strides, leading some of the world’s largest companies. Renowned for their innovative business strategies and ambitious expansion plans, these CEOs often command substantial salaries. Among this esteemed group is Arvind Krishna, the CEO…
Chinese tech giant Xiaomi has made a significant entry into the electric vehicle (EV) market with the launch of its inaugural electric car, the SU7. Launched today at a highly-anticipated event, Xiaomi’s SU7 aims to challenge established players like Tesla and BYD, as reported by HT Auto. Priced competitively at 215,900 yuan (approximately ₹24.90 lakh), Xiaomi’s SU7 undercuts the Tesla Model 3 in China, promising an attractive blend of performance, advanced features, and affordability. Deliveries are set to commence this month, with the SU7 already generating significant interest among potential buyers displayed in various showrooms across China. The SU7, dubbed…
Ram Charan, scion of the illustrious Chiranjeevi lineage and hailed as one of South India’s brightest stars, has carved an indelible mark in the annals of Indian cinema. Born into cinematic royalty as the son of legendary actor Chiranjeevi and Surekha Konidela, with famed comic actor Allu Ramalingaiah as his maternal grandfather, Ram Charan was destined to inherit the spotlight. The silver screen welcomed him with open arms in 2007 with his debut in the Telugu film ‘Chirutha,’ swiftly establishing him as a promising talent. However, it was SS Rajamouli’s magnum opus ‘Magadheera’ in 2009 that propelled him to the…
In the world of automotive giants, where competition reigns supreme, moments of camaraderie and humor can often surprise and delight. Such was the case when Dieter Zetsche, the esteemed Chairman of the Board of Management of Daimler AG and head of Mercedes-Benz, bid farewell to his illustrious career in 2019. As he prepared to step down from his role, his rival German automaker, BMW, decided to honor him in a unique and unexpected manner. In a heartwarming yet humorous video titled “Retirement Is About Exploring Your Wide Open Future,” BMW paid tribute to Zetsche’s final day at the Stuttgart headquarters.…
Chocolate enthusiasts worldwide are facing a bitter reality as cocoa prices soar to unprecedented levels, driven in part by the climate crisis wreaking havoc on crop harvests. Extreme weather events and shifting climate patterns have disrupted cocoa production for the third consecutive year, resulting in dwindling global supplies and surging prices. According to the UNCTAD commodities price monitoring, the cost of cocoa, the essential ingredient for chocolate production, has skyrocketed by a staggering 136% between July 2022 and February 2024. On March 26, the futures market witnessed a historic milestone as the price per tonne crossed the $10,000 mark for…
According to a report by market research firm Tracxn, investments in Indian startups totalled $1.6 billion from January 1 to March 15, 2024 Indian startups experienced a notable decline in funding during the first quarter of 2024, marking a departure from the upward trajectory witnessed in previous quarters. According to a report by market research firm Tracxn, investments in Indian startups totalled $1.6 billion from January 1 to March 15, 2024, reflecting a significant 29% decrease compared to the same period last year. Additionally, funding saw a sequential decline of 20% from the previous quarter’s $2 billion. This downturn in…
The recent exchange between Karnataka’s Industries Minister MB Patil and his Kerala counterpart P Rajeev has brought to light the complexities of interstate relations amidst water scarcity concerns. Shri. Patil took exception to Shri. Rajeev’s invitation to Bengaluru-based IT companies to consider investing in Kerala, citing concerns about the federal structure of the country and the competitive spirit among states. Patil’s statement underscored the sensitive nature of interstate economic relations, particularly in times of environmental stress such as drought and water scarcity. He emphasized that while Kerala has the right to attract investments, it should refrain from exploiting the challenges…
Telangana, India, is grappling with a dire water crisis as almost all major reservoirs approach depletion, threatening both agricultural irrigation and drinking water supplies across the state. Reports from the state agriculture department indicate that the ongoing Rabi season is particularly affected by the acute water shortage, exacerbated by below-normal rainfall during the northeast monsoon season. The deficit rainfall during the northeast monsoon season, from October to December, has been significant, with actual rainfall measuring only 52.70 mm compared to the normal average of 113.20 mm—a deficit of -53.45%. Additionally, the winter season received only 1.1 mm of rainfall, drastically…