Racing Financial News

Subscribe to enjoy similar stories.Competition between OpenAI and Anthropic, the two most prominent artificial intelligence start-ups, is intensifying as they race to expand relationships with major financial institutions.San Francisco-based Anthropic, which makes the Claude AI assistant that rivals OpenAI’s widely used ChatGPT, is launching a slate of new AI agent offerings for banks, investment managers, and insurers.The agents are meant to help those companies’ employees build presentations, synthesize webs of data sets and filings, build financial models, and complete other tasks, Anthropic said on Tuesday.Anthropic announced the new agents one day after it said it would partner with Blackstone, Goldman Sachs, and private-equity firm Hellman & Friedman to create a new, unnamed entity for expanding Claude across midsize companies. OpenAI is forming a similar venture, Bloomberg News reported on Monday, underscoring stiff competition.Anthropic, run by the former OpenAI executive Dario Amodei, has muscled further into financial services since it launched a suite of tools catering to banks, financial-technology firms, and others last year.The so-called agents have pressured software stocks, whose businesses, investors worry, could be threatened by the AI-driven tools.

Subscribe to enjoy similar stories.It all happened in one day.Three of the hottest startups in history moved closer Wednesday to becoming trillion-dollar companies. With a fresh filing, SpaceX showed the path to a landmark IPO likely to mint Elon Musk as the world’s first trillionaire.

Subscribe to enjoy similar stories.Sen. Tim Scott called President Trump on Tuesday with a last-ditch plea.The president was on the verge of publicly endorsing Texas Attorney General Ken Paxton in the state’s tightly contested Republican primary.

Subscribe to enjoy similar stories.In the history of literature, several outstanding novels have captured the personal and societal challenges associated with upward mobility. Once a man could make his fortune through intrepid adventure (R.L.

Subscribe to enjoy similar stories.Fashion retailers are speeding up deliveries to keep pace with instant-gratification shopping driven by quick-fashion startups, with established players and newer brands taking sharply different approaches.For example, brands such as Biba and The House of Rare have adopted a more calibrated, infrastructure-led strategy rather than a rapid overhaul of existing store networks. “We’ve been doing this in a very soft way but not necessarily from the same stores because that affects the customer experience,” said Siddharth Bindra, managing director of Biba.Bindra said using retail stores as fulfilment hubs for rapid delivery creates operational constraints, particularly given store sizes and layouts.

Subscribe to enjoy similar stories.The air in West Bengal crackles with the raw electricity of change, but also brings with it real challenges for the new party in power.As the counting of votes continued on the evening of 4 May, the Bharatiya Janata Party (BJP) raced ahead in more than 200 seats, dwarfing the Trinamool Congress’s trailing presence of around 80, with others negligible.This is no incremental gain. It signals a wave that is poised to dismantle chief minister Mamata Banerjee’s 15-year citadel.The discontent against Banerjee’s party, the Trinamool Congress (TMC), fuelled by years of alleged corruption, violence, and administrative decay, has finally overwhelmed loyalty to Didi’s welfare architecture.This verdict builds on a decade of simmering anti-incumbency.

Subscribe to enjoy similar stories.The 2028 Democratic presidential primary race won’t begin in earnest until after November’s midterm elections. But speed dating is already well under way among prospective candidates and major donors on Wall Street and elsewhere.Sen.

Subscribe to enjoy similar stories.For years, the global AI race focused on frontier models, faster chips and massive capital. The US still leads this phase, with its hyperscalers ready to roll out massive expansions of data centre capacity as soon as labour, chip and power availability catch up. China, however, is shifting its strategy.

Subscribe to enjoy similar stories.Dario Amodei, Sam Altman, Demis Hassabis, Mark Zuckerberg, Elon Musk—a recent Economist article describes them as the small, powerful group of five men who will determine the path along which artificial intelligence (AI) evolves. Their fellow AI pioneer Geoffrey Hinton, who invented the neural network system that enables AI models to learn like humans, quit Google in 2023 to alert the world that while further development of AI could lead us to a utopian future, it could equally lead us to a dystopian one.

Subscribe to enjoy similar stories.Writing on technology in the early 2000s, the creepy thought occurred to me that we would eventually have a generation of users who didn’t even recognize the concept of privacy in the digital world. It was when cookies and website tracking were going mainstream. They started out innocently, because if a website didn’t find a way to remember you, even a shopping cart wouldn’t work.

Subscribe to enjoy similar stories.THE WORLD stands on the brink of a nuclear-arms race. If one can be avoided, a big reason will be this: currently, the first country to start such a race risks paying a terrible price.

Subscribe to enjoy similar stories.MUMBAI: Indian international racer Jehan Daruvala is switching tracks. The fourth-generation scion of the Sterling and Wilson Group has hung up his racing suit to join the family business.The 27-year-old now competes to secure new business contracts and races against deadlines to complete projects. The career move comes as a renewable energy and data centre boom has turned around the prospects of the Sterling and Wilson Group, which specializes in constructing solar power plants and data centres.“I think this is also a fast track.

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Mint, the company “has started receiving queries and having conversations with at least two West Asian nations to supply space-based sensing and Earth observation data”.Speciale Invest and Infosys-backed GalaxEye is in the race for surveillance satellite solution services. Suyash Singh, co-founder and CEO, said the company is ready to launch its Drishti optical and synthetic aperture radar (OpToSar) surveillance satellite this quarter, following which surveillance imaging and data services will commence commercially from July.“There is certainly a lot of interest, but the number of surveillance satellites that can cater to foreign demand in the current war from India is only in double digits, as compared with the US having hundreds of satellites in orbit," Singh said."We’re launching a 1.5-metre earth observation satellite in about two months, and in anticipation of the future demand based on queries received, have established plans to set up a 0.5-metre resolution satellite constellation of 20 satellites for Earth observation and surveillance constellation by 2029,” he added.Space firms are therefore hedging their bets on surveillance satellites, seeking to tap into a global surge in demand for space-based data.Several factors are driving this shift.“One of the key factors is that many West Asian nations, including Iran, do not have sovereign satellite capabilities and run very limited and small-scale space programmes.

Retail investors can also develop their own software for application programming interface (API)-based trading.For a segment that had grown rapidly through third-party platforms and loosely governed APIs, the rules mark a structural reset—and have triggered a race among brokers to offer proprietary, in-house-built algos to strengthen customer stickiness.Algorithmic trading refers to the use of computer programs to execute trades automatically based on predefined rules such as price, timing or volume, with minimal human intervention.“We are seeing a clear shift towards brokers offering in-house algorithmic strategies,” said Sandeep Chordia, chief operating officer, Kotak Securities. Kotak Securities is working on an in-house algorithm that is expected to launch soon.“This can materially expand participation, especially among investors who are not tech-savvy and prefer to rely on a trusted broker rather than third-party providers,” Chordia added.Competition among brokers intensified after discount brokers such as Groww, Zerodha and Angel One cornered significant market share over the past decade, riding on low-cost pricing and a surge in derivatives trading.Groww has over 12.74 million active clients and a market share of 28.4%, followed by Zerodha at 6.9 million clients and 15.4%, and Angel One at 6.8 million and 15.1% as of February, according to data from the National Stock Exchange.The gap with the rest of the industry is stark.

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Mint’s emails till the time of publishing.Broadly, India is seeing renewed investor appetite for preventive nutrition brands as the country’s wellness market scales rapidly. With deal activity accelerating across supplements and nutraceuticals, several mid-size deals have been announced recently as companies look to capture the growing demand for protein, hydration and clean-label products.Fullife Healthcare, which operates Fast&Up and Chicnutrix, on Wednesday said it concluded a ₹300 crore fundraise led by Elev8 Venture Partners, while USV Private Ltd acquired around a 79% stake in nutraceutical firm Wellbeing Nutrition in an all-cash deal valuing the company at ₹1,583 crore in February.Founded in 1971 by Kartar Lalvani, Vitabiotics is one of the largest nutraceutical firms in the UK and owns brands such as Pregnacare, Osteocare, Perfectil, Immunace and Menopace.

Artificial intelligence presents a transformative moment for society, but it appears that the number of people focused on making sure it’s safe might fit on a single transatlantic flight.Perhaps that shouldn’t surprise given the global arms race that has propelled generative AI companies to stratospheric valuations, but it should cause some alarm. The technology makes errors, is largely untested in the wild and has shown toxic side effects on mental health.

Ambuja Cements Ltd, which was acquired by the Ahmedabad-based conglomerate in September 2022, told analysts at a plant visit last week that it will not rush into expansions at the expense of margins. The company was open to pushing back its FY28-end target of achieving 155 million tonnes per annum (mtpa) capacity by a couple of years as it looks to increase the utilization of its existing capacity.

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