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Adani Group bonds fell 5-10 cents Thursday after a US court indicted chairman Gautam Adani and senior executives over allegations of paying $265 million in bribes to secure solar power contracts in India. Adani Green Energy’s March-issued bond offering 6.7% dropped as much as 15 cents, trading at 78/ 79 cents on the dollar in the early trades. This saw some recovery and closed at 82/83 cents from 94 cents Wednesday

Nvidia’s strategy for India is built on a multi-pronged approach predicated to “accelerated computing is the future of technology,” especially for India given the energy constraints. This approach offers an efficient solution to meet the country’s growing AI needs—sustainably, said the company’s business head (cloud and consumer internet) for the South Asian market, Hasan Aijaz. “The chip is no longer the unit; it’s the data centre. You don’t have to think about chips or systems separately. You need to think about how chips and systems work together, along with the network and the software and create a full stack,” he said at the Bengaluru Tech Summit on Thursday speaking on a discussion about AI for chips. Meanwhile, US-based Qualcomm said it is focused on edge AI and making on-device AI more accessible and efficient for its end consumers. Senior VP at the firm, Srini Maddali, said «AI on the edge is not an option; it is a necessity. You will not be able to scale, nor will you get the technology leverage across the world without having AI on the device.»

People aware of the ongoing downsizing drive within Ola Electric said the company has cut 300-400 jobs, or under 10% of the workforce, over the past few months. The numbers would go up and as many as 500 employees may be impacted as the process is still ongoing, according to one of the people. «There is an emphasis on profitability and workforce optimisation is in line with that goal,» said a person close to the company.

AI regulations. Stringent regulations such as the proposed EU Artificial Intelligence Act could potentially undermine the global competitiveness of European AI startups, likely pushing more companies to shift to place like the United States —a seismic blow to Europe’s tech ecosystem, ET has learnt after speaking with multiple industry executives, global founders, and investors at the Slush 2024 event in Helsinki. “The reality is that the regulations here are far removed from the reality of how businesses operate,” said Andreas Klinger, founder of Prototype Capital, an early-stage solo general partner fund based in Berlin. “If we look at the high-risk aspects, everyone will agree, but things get muddier very quickly. I invest in artificial intelligence startups, so I have a good sense of what is likely to happen.”

generative AI came into the spotlight – is stabilising. Staffing experts are noticing a plateauing in the need for specialist prompt engineers, with businesses seeking AI engineers with a broader skill set as techniques like retrieval augment generation or grounding, fine-tuning, and continual pre-training are seeing increasing innovation and relevance, and tools to automate prompt optimisation are emerging. Prompt engineers are people who optimise prompts to ensure accurate and desirable output from Gen AI models. “Prompt engineering and demand for prompt engineers is by scope and nature highly seasonal and short-termed,” said Krishna Gautam, business head — direct hiring — at specialist staffing firm Xpheno. “The role's eventual output is to enhance the intuitive capabilities of the AI, including the ability to autonomously frame, test and calibrate prompts. Given this specific nature of the stack, prompt engineering will eventually phase out itself from being a significant part of the AI capacity matrix of enterprises.”

Subscribe to enjoy similar stories. Adani group executives’ indictment in a bribery case in the US roiled the Indian markets, with the conglomerate’s stocks taking a massive hit in the ensuing selloff. The turbulence followed an announcement from the US Attorney’s Office in New York in the early hours of Thursday (India time), indicting group chairman Gautam Adani and seven senior executives.

Bahnsen Group managing partner David Bahnsen discusses market volatility and analyzes the real estate market on The Big Money Show.

money-market funds, according to reports. Apollo chief economist Torsten Slok is of the opinion that the rate cuts can trigger a $2 trillion exodus from money-market funds, with assets held in money-market funds hit an all-time high of $7 trillion this month. With the Fed Reserve cutting interest rates, money will start moving out of these funds, and will generate more value when it enters higher-yielding assets during a folio shift. Asset relocation like these could help generate more value, but it may necessarily not be a great news for stocks and the US stock markets, but would instead result in inflows into the credit markets, according to a Business Insider report.

The prime minister, who arrived in Guyana on the final leg of his three-nation visit, is the first Indian head of the state to visit the country in more than 50 years. «For the world to move forward, the biggest mantra is 'Democracy First, Humanity First'. The spirit of democracy first teaches us to take everyone along and participate in everyone's development. Humanity First guides our decision-making. When we make Humanity First the basis of our decision-making, the results are also ones which benefit humanity,» he said.

Nippon Life India Asset Management has executed a definitive agreement with realty developer Lodha, listed as Macrotech Developers, to acquire an office space spread across two floors in a commercial tower One Lodha Place in Mumbai’s business district Lower Parel for Rs 486 crore. The asset management company is planning to shift its headquarters in this office spread over 52,162 sq ft from Peninsula Business Park in the vicinity. “The deal was registered on Thursday noon. The buyer has paid a certain amount of the consideration and the stamp duty, and is expected to pay Rs 400 crore by December 6,” said a person with direct knowledge of the development.

CRF1100 Africa Twin to rectify issues with throttle operation. The voluntary recall is aligned with the global market action, the two-wheeler maker said in a statement. The recall affects certain units of this adventure motorcycle manufactured between February 2022 and October 2022, it said. The company has identified a concern with the motorcycle's throttle operation, HMSI said.

Charles and Camilla were crowned on May 6, 2023, in Britain's biggest ceremonial event for seven decades with a lavish display of pomp and pageantry in front of 100 world leaders and a global TV audience of millions. In its annual report, the culture department (DCMS) which had responsibility for organising the coronation, said it had cost 50.3 million pounds ($63.6 million) to stage, with another 21.7 million pounds for policing costs.

Bitcoin is jumping again, rising above $98,000 for the first time Thursday

Rice borders on the sacred in Sierra Leone, which has one of the world's highest consumption rates

A new draft text released early Thursday which will form the basis of any deal reached at United Nations climate talks on money for developing countries to transition to clean energy and adapt to climate change left out a crucial sticking point: how mu...

The deadly collapse of a concrete roof at a rail station in Serbia has raised tensions across the Balkan county

Gandhamardhan hills in Odisha, the opposition Biju Janata Dal (BJD) and Congress on Thursday demanded clarification on whether the company has any plan to go for mining in that region. The Adani Group, however, said the purpose for land acquisition is to enrich the local ecology through afforestation and there is no commercial intent. Gandhamardan Hill Range spanning Bargarh and Balangir districts was declared as a Biodiversity Heritage Site (BHS) in 2023 when the BJD was in power. BHS is an area with unique, ecologically fragile ecosystems with rich biodiversity. «The government should speak out on the purpose of the Adani Group acquiring land near Gandhamardhan Hills, which reserves an estimated 207 million tons of bauxite. Since the state government is silent on the matter, suspicion of the people grows,» said Bolangir's BJD MLA Kalikesh Singh Deo.

rehabilitating older children and providing them with a new direction in life, was jointly organized by the Ministry of Women and Child Development, the Central Adoption Resource Authority (CARA), and the Uttar Pradesh Women and Child Development Department at the Mars Auditorium of Indira Gandhi Pratishthan in Lucknow on Thursday. The main goal of the conference was to create awareness among the public about adopting children who are either orphaned or lack family support, educating people on the legal process of foster care. According to a press release, Speakers highlighted the importance of sensitivity and acceptance in the society for rehabilitating such children and giving them a sense of belonging. Union minister of state for women and child development, Savitri Thakur, UP’s minister for women welfare, child development and nutrition, Baby Rani Maurya, and State Women's Commission Chairperson, Babita Chauhan, shared their thoughts on the theme «Rehabilitating Older Children through Care and Nurturing.»

Adani Group. Ruto said he had also directed the cancellation of a more than $700 million deal the energy ministry had signed with a unit of the Adani Group to construct power transmission lines. This comes after U.S. prosecutors indicted Adani for conspiring with executives of a former New York-listed company to devise a $265 million scheme to bribe Indian officials and boost their solar energy business.

Kyiv said earlier on Thursday that Russia had launched an intercontinental ballistic missile during an attack on the city of Dnipro. Russian Telegram channels said Russia had attacked what is known in Ukraine as the missile and space rocket company Pivdenmash, which is headquartered in Dnipro.

equity markets in 2025, with the Nifty 50 likely to reach 27,000, rebounding from its current 9.5% dip below the September 2024 peak due to FII outflows. The brokerage has elevated resilient export-oriented sectors like IT and pharma to overweight and market weight, respectively, benefiting from improving demand, a weaker rupee and defensive attributes. Goldman Sachs said the expected rebound in the Nifty 50 index would be fueled by a combination of mid-teen earnings growth and strategic focus on export-oriented sectors like IT and pharma, which have been upgraded to reflect their favorable positioning in the current macroeconomic environment, benefiting from improving global demand, tailwinds from a weaker rupee, and defensive characteristics. The brokerage report highlights stable revenue visibility in these sectors, supported by structural demand trends and cost advantages.