CEO Financial News

By David Shepardson

Twitch, the video game streaming platform acquired by Amazon a decade ago for close to $1 billion, is laying off more than 500 employees as the company tries to turn the tremendously expensive division profitable

Tech companies of all sizes are showing off their latest gadgets at CES 2024 in Las Vegas

Hewlett Packard Enterprise is buying Juniper Networks in an all-cash deal valued at about $14 billion, which is anticipated to double HPE’s networking business

The World Economic Forum says false and misleading information supercharged with cutting-edge artificial intelligence is the top immediate risk to the global economy

Indian Navy on Wednesday received its first locally made medium altitude long endurance drones, which were contracted using emergency financial powers last year, marking the first major weapons delivery by the Adani Group. The drones will enhance surveillance and reconnaissance capabilities in the Arabian Sea, said Navy chief Admiral R Hari Kumar. The drones — Drishti 10 Starliner unmanned aerial vehicles (UAVs), also known as Elbit Hermes 900 — have been manufactured at Hyderabad facility of Adani Defence and Aerospace which is being expanded to a manufacturing hub for missiles and UAVs.

Seth's four-year-old son seems pre-planned. The police said they had recovered two empty bottles of cough syrup from the room where Seth allegedly killed her son, indicating that she might have given a heavy dose of the medicine to the deceased. Seth was subjected to psychological tests to assess her mental condition and to help find the motive for the gruesome crime, the police said.

SAN FRANCISCO : Artificial intelligence lab OpenAI has launched its GPT Store, a marketplace for personalized artificial intelligence (AI) applications, the company said in a blog post on Wednesday. The GPT Store is located within the popular ChatGPT chatbot, and is a place for users to discover and build GPTs, or AI customized for tasks like teaching math or designing stickers. It is OpenAI's attempt to build on the consumer success of ChatGPT, which introduced the world to generative AI last year, dazzling users with its ability to write humanlike prose and poetry.

Crypto companies received more fines for poor money controls than traditional financial firms for the first time ever in 2023, according to data compiled by the Financial Times.

The bankrupt crypto lender Celsius Network has notified its creditors that customers who made substantial withdrawals in the 90 days leading up to the bankruptcy declaration may need to return a portion of the funds or face legal consequences.

Boeing chief executive officer Dave Calhoun fought back tears as he said the planemaker must own up to its shortcomings as it grapples with a safety incident that has renewed questions over the quality of its manufacturing. «We're going to approach this — No. 1 — acknowledging our mistake,» Calhoun told Boeing employees Tuesday during a companywide meeting at its 737 aircraft factory near Seattle. «We're going to approach it with 100% and complete transparency every step of the way.»

Suchana Seth case. The Bengaluru-based entrepreneur is currently in the custody of Goa police for murdering her four-year-old son. Upon investigation, the police found that her startup — Mindful AI Lab was not a proper office but a co-working space, according to anIndian Express report. The accused is also the director of another Bengaluru-based machine intelligence firm, which was registered in September 2020 and is still active. Despite being listed as a research fellow at the Raman Research Institute from 2008-2011, she dropped out from there in 2010 according toIndian Express.

By Rajesh Kumar Singh, Tim Hepher and Allison Lampert

Rajnath Singh on Wednesday met British Foreign Secretary David Cameron and held «insightful deliberations» with him on boosting bilateral ties and deepening cooperation between both the countries. Singh, who arrived in London on Monday, has held a series of engagements besides bilateral talks with his British counterpart Grant Shapps.

Amaha Health has raised Rs 50 crore (about $6 million) in funding led by Fireside Ventures. The venture fund invested Rs 36 crore while the remaining Rs 15 crore came in from a set of angel investors and family offices. The startup, which offers psychiatry and other mental health services, has previously been backed by Lightbox Ventures, Capricorn Partners and Info Edge CEO Hitesh Oberoi.

Velocity has earmarked Rs 300 crore (about $36 million) to meet the growth capital needs of business-to-business software-as-a-service (B2B SaaS) companies over the next 18 months. Abhiroop Medhekar, founder and CEO, told ET that the company aims to double its e-commerce disbursements to Rs 800 crore over the year, while expanding its cloud kitchen and allied restaurants portfolio.

viksit' (developed) status by 2047, marking a century of independence. This period, termed India's 'Amrit Kaal', aligns with national developmental goals.

Evify, an electric vehicle logistics firm, said it has raised $1.3 million in funding in a pre-series A round led by venture capital firms GVFL and Piper Serica Angel Fund. Existing investors We Founder Circle and IVY Growth, along with a few angel investors, also participated in the round. Founded in 2021 by logistics expert Devrishi Arora and cleantech specialist Pragya Mittal, the company is focused on electric vehicle-based logistics to transition India's direct to consumer FMCG and ecommerce last-mile delivery to electric vehicles. The firm will use the fresh funds to expand its operations across Gujarat and product innovation. The aim is to grow the existing fleet from 400 to 4,000 electric bikes by March 2025. Currently, it is operational in Surat and Ahmedabad.

NTT Corporation has fully exited its 69.14% controlling stake in Pune-based IT consulting and services firm Nihilent Ltd selling it to the founder and promoter LC Singh. While the exact deal size was not disclosed, in mid-2022, NTT was seeking a valuation for Nihilent at around Rs 2,500 crore ($314 million then).

Forbes Media chairman Steve Forbes and former CKE Restaurants CEO Andy Puzder discuss the December jobs report and point out discrepancies in its reporting.

Adani Enterprises, said, "Recent geopolitical events have reinforced the convergence of physical, informational, and cognitive tactics underpinned by intelligence, information processing capabilities, and the use of unmanned and cyber systems for dissemination of information and disinformation." "Intelligence, surveillance and reconnaissance platforms across land, air and naval borders are a key priority for Adani to serve the armed forces and place India on the global map for exports. We are proud to be able to serve the Indian Navy," he added.