CEO Financial News

Chinese search engine and artificial intelligence firm Baidu has made its ChatGPT-equivalent language model, Ernie Bot, fully available to the public

Swiss bank UBS announced plans to save $10 billion in costs as it moves ahead with “full integration” of longtime rival Credit Suisse’s domestic operations, releasing its first earnings report since the government-orchestrated merger to help stave off ...

Swedish buy now, pay later firm Klarna reduced its losses by roughly 67% in the first half of 2023, as the company dramatically cut costs in a bid toward profitability.

India, 30th August 2023: Swarna Aditya Gold Refinery and Resources Pvt Ltd, the company behind the largest e-waste management refinery in India is seeking to boost its e-waste management operations by opening its door to new investors in a forthcoming expansion. The invitation for new stakeholders comes after the top management of the Shri Balaji Group recently decided to double down on the company’s sustainability efforts, leading the venture to make a more significant positive impact towards the environment.

South Korean prosecutors have asked a court to arrest an ex-pro golfer and a top executive at Bithumb, one of the country’s leading crypto exchanges.

Media company Network18 and DistroTV, an independent, free, ad-supported streaming TV (FAST) platform, have announced a partnership, which will enable DistroTV users in India to stream Network18’s portfolio of channels live and for free. In its initial phase, the partnership has seen the launch of Network18’s channels such as CNN-News18, News18 India, CNBC TV18 and CNBC Awaaz on the platform.

Instagram, X (formerly known as Twitter) and others. As most of these social media websites are based abroad, how will an individual who earns money from these websites get taxed?

China's Baidu rolled out its ChatGPT rival ERNIE Bot to the public on Thursday, in a major leap for the country's tech sector as it aims to cash in on the global artificial intelligence gold rush. The Chinese government introduced fresh regulations this month for AI developers, aiming to allow them to stay in the race with the likes of Microsoft and OpenAI but still tightly controlling information online. ERNIE Bot is the first domestic AI app to be fully available to the public in China.

Australia Post has delivered a $200 million loss, its first major structural loss in more than 30 years, with the losses forecast to continue unless the federal government drastically cuts services.

HDFC Bank has opened up space for other mortgage lenders to raise funds from the debt market at a cheaper rate as more money is now available for other companies, market participants said. The biggest beneficiary of HDFC's exit, which used to corner more than half of the market funds, is likely to be LIC Housing Finance — the largest AAA pure-play home financier currently. «After HDFC's merger with HDFC Bank, the total number of issuances has drastically come down. Yields have definitely come down following the merger because of the absence of HDFC, which was the benchmark for AAA-rated home financiers.

Facets.cloud, a self-serve infrastructure management platform, has raised $4 million in a seed funding round led by 3one4 Capital. The platform helps improve developer productivity by streamlining cloud deployment workflows. Other investors who participated in the round were Neon, formerly 100x Entrepreneurs and angel investors including Postman founder and CEO Abhinav Asthana, FusionCharts founder and CEO Pallav Nadhani, Capillary Technologies founder and CEO Aneesh Reddy, Meta director of engineering Krishna Mehra and GTM Buddy founder and CEO Sreedhar Pedinneni. The startup was cofounded in 2021 by three former senior executives from Capillary Technologies – Anshul Sao, Pravanjan Choudhury and Rohit Raveendran – also three alumni of the IIT Kharagpur.

theme parks KidZania, is planning to spend $50 million over the next 5-10 years to launch five new theme parks in cities like Bengaluru, Ahmedabad, Pune, Hyderabad, and Chennai, a top company official said. The company currently operates two KidZania branded theme parks in Mumbai and Delhi spread across 70,000 sq ft and 95,000 sq ft, respectively. The two centres used to draw an annual footfall of 400,000 persons prior to the pandemic, which has dropped to 300,000 post the pandemic. «We are expecting about $50 million of investment to launch the five new centres,» said Paras Chandaria, founder and promoter, KidZania India, adding that the company is open to working with strategic partners to realise its ambitious expansion plans in the country.Chandaria's Kidz Inc Pte owns a 74% stake in Imagination Edutainment while Khan holds the remaining 26%.

Securities Appellate Tribunal (SAT) on Wednesday directed the Securities & Exchange Board of India (Sebi) to file its response by September 4 in an appeal filed by Zee Entertainment Enterprises promoter Punit Goenka against an order of the regulator. The tribunal also scheduled for September 8 the hearing of Goenka's plea, challenging Sebi's confirmatory order barring him from holding any directorship or managerial position in any listed company or their subsidiaries. Goenka, who is the MD and CEO of Zee, approached the appellate tribunal through law firm Economic Laws Practice. He has submitted that Sebi's order be set aside. A division bench of Justice Tarun Agarwala and technical member Meera Swarup, while allowing Sebi to file its response, observed that it was not satisfied with the regulator's timeline of eight months to complete the probe against alleged wrongdoings by the Zee promoters. The bench also referred to the merger deal between Zee and Culver Max Entertainment (Sony) that has received all the requisite approvals, including from the National Company Law Tribunal, Competition Commission of India and stock exchanges. «The merger has happened with the consensus of the shareholders.

rice exporters are negotiating with global buyers for a price exceeding $1,200 per tonne for new orders now and adjust the price against future orders when the government's move to temporarily halt exports of this aromatic variety of rice is rescinded. India on Sunday announced a temporary halt of export of any basmati rice consignment for less than $1,200 a tonne, while shipments contracted above that price threshold will continue to be allowed. The move was to restrict possible «illegal» shipment of white non-basmati rice in the garb of premium basmati rice.

HHS) has proposed a relaxation of the regulations surrounding marijuana, according to a report from Bloomberg News on Wednesday. The report cites a letter written to the Drug Enforcement Agency (DEA) administrator, Anne Milgram. The letter, authored by Rachel Levine, the US Assistant Secretary for Health, specifically requests the reclassification of marijuana from its current category to a Schedule III drug as defined by the Controlled Substances Act.

The social media platform X, formerly known as Twitter, has acquired a regulatory license that enables it to process cryptocurrency payments in the US.

NEW DELHI : India on Wednesday permitted exports of limited quantities of non-basmati white rice to Bhutan, Mauritius and Singapore, according to a notification by Directorate General of Foreign Trade. Bhutan will get 79,000 tonnes, Mauritius 14,000 tonnes and Singapore 50,000 tonnes, even as the export ban imposed on 20 July remains in place. The export will be done through National Cooperative Exports Ltd, a government export body which was set up under the Multi-State Cooperative Societies (MSCS) Act, 2002 to export agriculture produce and allied items.

CNN is bringing in a former chief executive of the BBC and The New York Times in an attempt to turn around a news organization that has burned through two leaders and bled viewers over the past two years. fired in June, and a four-person team that had been running CNN in the interim. Thompson, who left the Times in 2020 after eight years as that company's president and CEO, is credited with transforming it to a digital-first organization more dependent on paid subscribers than the collapsing advertising market that has doomed many newspapers.

Check out the companies making headlines in midday trading.

A registered investment advisor firm in the Midwest is being acquired by Pensionmark, the retirement specialists business of World Insurance Associates.

(Reuters) -United States Commerce Secretary Gina Raimondo has said U.S. companies have raised concerns that China has become «uninvestible», pointing to fines, raids and other actions that have made it too risky to do business in the world's second-largest economy.