Provident Financial News

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Shapoorji Pallonji group will provide security cover of six times the loan value it will obtain from Power Finance Corporation, the company said in a press statement on Tuesday. “We are fortunate to work with PFC over the last 9 months to craft a unique proposal, that has a twin security structure leveraging the strength of the SP group’s large real estate franchise, as well as a portion of the Tata Son’s shares owned by the Mistry family”, said Venkatesh Gopalakrishnan, director, group promoters office, Shapoorji Pallonji.

AI startups in the United States received $27 billion in funding in the April-June quarter, accounting for nearly half of all startup funding in the country during that period. Funding for AI startups in India on the contrary stood at $8.2 million in the April-June quarter, declining about 91% sequentially and by 82% year on year. Even as year-to-date in 2024, Indian AI startupshave raised nearly $96 million, which is a 61% increase over the same period in 2023, there is a reset of sorts happening in the Indian AI space. The initial euphoria is settling down and investors are looking beyond large language models (LLMs) and are now trying to zero in on companies which could build applications and services on top of LLMs. The greatest value for Indian startups could perhaps accrue from building cost-effective applications and services since LLMs and GPU chips are highly capital-intensive, investors and executives told ET.

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The National Transportation Safety Board is about to hold a two-day hearing into the blowout of a panel from the side of a Boeing 737 Max airliner

Imagine Dogecoin now at the same price during its launch back in 2014. This new token, Doge2014, gives investors a nostalgic way to interact with the Dogecoin community.

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Thousands of displaced residents on Maui have faced a year of anxious uncertainty since the deadliest U.S. wildfire in a century devastated Lahaina

Dating app Juleo which aims to solve the matchmaking crisis has raised $2.5 million in a funding round from Livspace founder Ramakant Sharma, Cred founder Kunal Shah, Acko cofounder Ruchi Deepak, and Groww founders Harsh Jain and Lalit Keshre, among others. The funds will be used for building the team as well as for growth and marketing efforts. “Dating app burnout and mental health issues sadly affect singles globally today. We intend to build a trusted club for singles that provides them with a safe, trustworthy, and responsible service to find real love,” said founder and chief executive Varun Sud.

Tax Intelligence (DGGI) has sent showcause notices to 10 foreign airlines operating in the country, for alleged non-payment of tax amounting to ₹10,000 crore, officials said. They include British Airways, Lufthansa, Oman Air, Emirates and Singapore Airlines, they said. The notices, sent over the past three days, deal with unpaid tax dues on the import of services by Indian branches from head offices, officials said. Airlines are not covered by a June 26 circular on valuation of supply of import of services by a related person, where the recipient is eligible for full input tax credit, an official said. DGGI sought segregated list This is the circular cited by Infosys following a recent integrated GST demand amounting to Rs 32,000 crore.

OpenAI introduced SearchGPT last month, it was believed to challenge Google's dominance in the space. However, rival search startup Perplexity AI's founder Aravind Srinivas and some AI researchers were quick to call out the tool's inaccuracies when prompted for simple search queries. Whether GenAI-based search can ever dethrone incumbents like Google Chrome is still a far sight. But if it does, it could cause a tectonic shift in the way users consume AI in their daily lives. ET explains what the future of search could mean and what are the pressing concerns around it: What is Search GPT?

About half the U.S. state attorneys general have traveled to France for an event cosponsored by a group largely funded by companies

A Frontier Airlines flight that had been set to go from Houston to the Dallas area last week got canceled not because of weather, but because one of its pilots got arrested

Tata Consultancy Services, digital printing company Xerox said it has a $355 million tech spending commitment under the seven-year contract. In a regulatory filing in the US, Xerox also disclosed its spending commitment with Microsoft at $125 million and with SAP at $45 million for the same period under this multi-party agreement. TCS did not respond to an email seeking comment sent on Monday morning.

staffing solutions provider Instawork has acquired the technology platform built by Bengaluru-based online placement forum Able Jobs for an undisclosed amount. Ravish Agrawal, one of the cofounders, will serve as an advisor to Instawork, while Siddharth Srivastava, the other cofounder will join Instawork as a product leader. Through the deal, Elevation Capital, Titan Capital and other venture investors on the captable of Able Jobs will exit the company and the small team of around four employees still with the company will be taken in by Instawork, the spokesperson added.

Nansen’s latest report examines the massive sell-off of crypto assets during Crypto Black Monday, highlighting key factors driving the downturn.

Warner Brothers, the company that produces «Game of Thrones,» had a trademark on the name «Khaleesi.» The mother, Lucy, expressed her shock to the BBC, explaining how this news ruined their plans for a dreamy vacation to Disneyland Paris. As per the reports of the New York Post, Lucy was shocked to hear that the application was denied by the Passport Office due to a trademark dispute. Considering that her daughter's birth certificate was granted without the incident, she was confused as to why this had not been reported earlier. She had never heard of a name being trademarked. She was disappointed and frustrated by this scenario.

San Francisco Federal Reserve President Mary Daly on Monday said she expects that interest rates will be cut later this year but declined to provide a timetable or the extent to which the central bank will ease.

Martin Henderson, who stars as Jack Sheridan, has provided an exciting update on the upcoming sixth season. The actor shared a sneak peek into the production process, revealing that the new episodes are currently in post-production.

The wheels of consolidation are continuing to turn at Focus, the Clayton Dubilier & Rice-backed RIA aggregator, as it unveils another merger agreement between two of its partner firms.

LPL has broadened its footprint in the Northeastern US yet again as it welcomes an advisor team from Cetera in Connecticut.