Friday, July 28, 2023

Credit a better bet for fintechs eyeing expansion: PBFintech's Yashish Dahiya

While admitting that there is a viable business to be set up in digitising the physical agent network, Dahiya said there is definitely a bubble building up in the insurtech space with respect to sky high valuations.

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Meta's algorithms shows that America's political polarisation has no easy fix

Four research papers, published in Science and Nature, reveal the extent of political echo chambers on Facebook, where conservatives and liberals rely on divergent sources of information

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Alarmed by AI’s potential, US Senate to summon experts

Democratic and Republican senators voiced alarm this week about artificial intelligence's potential use to create a biological weapon.

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Thursday, July 27, 2023

Now, international platforms wooing Indian gamers with ‘No GST’ messages

These platforms are offering micro-influencers up to Rs 1,000 per post on social media platforms such as X (Twitter), Instagram and Facebook, asking users to switch to their platforms.

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Meta Q2 results: Profit rises 16% to $7.8 billion as ad sales rebound

Meta's improving finances are the second indication in two days that the online ad market, after a long slump brought on by a slowing economy, is showing signs of improvement

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US lawmakers struggle to find deal on self-driving cars

Republicans and some Democrats want fast action, raising concerns that China could surpass the United States in deploying cars without human drivers.

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GST Council to meet on August 2 to discuss 28% tax on online gaming

The special meeting is expected to thrash out issues such as repetitive taxation in determining the full face value among other matters flagged by the gaming industry.

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Wednesday, July 26, 2023

Microsoft Q4 results: Revenue rises to $56.2 billion, AI spending soars

Costs rose sharply as Microsoft built new data centers to support AI, and chief financial officer Amy Hood said on a conference call with analysts the company's capital expenditures would continue rising each quarter throughout fiscal 2024.

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Alphabet Q2 results: Profit beats expectations, CFO Ruth Porat to assume new role

Porat, hired in 2015, is one of Silicon Valley's most prominent female executives and oversaw tremendous growth at Alphabet. She will become chief investment officer and president starting September 1 and lead 2024 planning while her successor is sought.

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Battery giant CATL posts slower profit growth as competition heats up

China's battery makers including CATL are facing challenges of weakening demand and bigger cost reduction pressure from EV makers amid a price war and a slowdown in auto sales this year.

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Apple supplier Corning Q3 revenue forecast hit by consumer electronics slump

Corning has moved aggressively this year to cut down on costs to make up for the slump in its main markets, which, combined with earlier price hikes, has helped the company to still expand its core gross margin by 100 basis points to 36.2%.

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Anthropic quietly sets up biology lab as it ramps AI drug program

At a time when fears of AI are gripping the public, the startup has built a wet lab, or place for physical experiments, in the San Francisco...