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artificial intelligence, a billboard at a construction site in Antwerp, Belgium, in June read «Hey ChatGPT, finish this building.» Artificial intelligence, the technology that powers chatbots like ChatGPT, won't be assembling apartments or erecting stadiums anytime soon, but in construction — an industry stereotypically known for clipboards and Excel spreadsheets — the rapid embrace of the technology may change how quickly projects are finished. Drones, cameras, mobile apps and even some robots are increasingly mapping real-time progress on sprawling job sites, giving builders and contractors the ability to track and improve a project's performance.

Gautam Adani can’t afford a costly distraction. While his core infrastructure business is booming, there’s little reprieve from the governance issues that have dogged the Adani Group since New York-based Hindenburg Research’s allegations of stock-price manipulation and undisclosed related-party transactions earlier this year. Despite its strenuous denial of the short-seller’s report, the conglomerate’s market value has sagged more than $100 billion since January.

Russia’s central bank has made a big interest rate hike in an emergency move designed to fight inflation and strengthen the ruble

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International Assets Advisory CEO Ed Cofrancesco discusses the FOMC's stress test for big banks and his stock picks to short.

National Association of Home Builders CEO Jim Tobin explains how local governments have tied up housing construction projects.

MUMBAI — The Indian banking sector exited its worst-ever downcycle after Covid, which led to a major clean-up in the balance sheet across the board. But it’s public sector banks that have seen an almost 360 degree shift in earnings performance, and this reflects in the stock prices, as many of them turned multibaggers since the pandemic. Despite the rally, many of the PSU banks are still reasonably valued, believes P Krishnan, CIO and Managing Director, Spark Asia Impact Managers.

Federal Reserve officials close in on the end of their tightening campaign, the debate is shifting from how high interest rates need to go to how long they should stay elevated. Inflation pressures are easing, which could give policymakers room to keep interest rates at or near current levels for the time being. Still, price gains remain well above the central bank's 2% target, making policymakers hesitant to declare victory. Introducing the discussion over how long officials may keep rates steady even if inflation continues to decelerate could help them push back on expectations for rate cuts and allow them to keep putting downward pressure on the economy. «This is the policy dimension that they will likely focus on the most going forward: Not how much higher to take the federal funds rate, but how long to keep it at these levels,» said Brian Sack, a former senior Fed official who earlier this year left D.E. Shaw & Co. after about a decade as head of the investment firm's global economics group. «There's still a lot of scope to tighten financial conditions in that way, if they wanted to.» Fed officials unanimously raised their benchmark rate last month to a target range of 5.25% to 5.5%, the highest level in 22 years. Minutes from that gathering — set for release on Wednesday afternoon — could provide more insight into whether most policymakers believe those increases have already worked their way through the economy or if they still expect to see more effects.

Listed packaging solutions business Pact Group Holdings has sold half of its crate pooling business to infrastructure investor Morrison & Co for a $380 million enterprise valuation.

Alembic Pharmaceuticals expects the US business to bounce back as it gears up for a busy launch schedule in FY24, which includes oncology and non-oncology injectables, derma, and ophthalmic products. Many of these launches will be coming from the new facilities that cleared US Food and Drug Administration (USFDA) inspections. Alembic is also looking at possibilities of taking advantage of drug shortages in the US.

Transurban chief financial officer Michelle Jablko will succeed Scott Charlton as chief executive of the $43 billion tollroad group, which delivered a five-fold increase in annual net profit to $92 million.

NEW DELHI : EBay, an online marketplace for buyers and sellers, generates 50% of its revenue from markets outside the US. India, which is classified under emerging markets, has remained an important market for eBay despite the company exiting the market in 2017. In an interview, Vidmay Naini, eBay’s general manager for global emerging markets, which include India and Southeast Asia, spoke about the challenges faced by India’s e-commerce exporters and the role of generative artificial intelligence (AI) in e-commerce ventures.

MUMBAI : Indian companies’ aggregate legal expenses hit ₹40,000 crore in each of the last two fiscal years, two industry executives said, a figure that is expected to rise further driven by white-collar crimes, insolvency cases, mergers and acquisitions (M&As), intellectual property (IP) matters, and regulatory filings. Law firms have bulked up to meet rising demand, recruiting hundreds of law grads from campuses as well as from rival firms.

A year after the $18 billion registered investment advisor Signature Estate & Investment Advisors said it was selling a portion of the firm to Reverence Capital and Advisor Group, now Osaic, the RIA announced Tuesday that its new broker-dealer will be up and running on Sept. 1.

Narendra Modi laid out a 1,000-year vision for India’s development, offered as a project of liberation in contrast with the millennium gone by. Our neighbours have had their own versions.

Telangana used Independence Day speeches to announce new skilling and housing schemes, increase in allowances and farm loan waivers to top the populist budgets earlier in the year. The CMs of the four states, where assembly elections are due by the yearend, announced new schemes for the youth, women and farmers. A state-wise look at the measures announced:Telangana The big-ticket announcement from all poll-bound states came from Telangana.

cryptocurrency investments. To recover her account, the 27-year-old lawyer from Rio de Janeiro had to pay 200 reais ($40) to a «consultant» she found on YouTube, a man she says could have been a scammer himself. «It took me two days to recover my account, and I was under a lot of stress,» she said.

In a recent research note, Goldman Sachs (NYSE:GS) analysts highlighted three oil and gas stocks that they believe are poised for strong gains, reiterating a Buy rating on each.

By Andrea Shalal

Tesla added new lower-range iterations of the Model S sedan and Model X sport utility vehicle to its lineup that cost $US10,000 ($15,460) less than their previous base prices.

Qantas’ investments in its fleet have been made at “a significant cost” and the aviation industry is still struggling to bring back capacity, meaning the government must prioritise protecting aviation jobs over its obligations to consumers, the transport minister says.