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Reddit is a social media and news aggregation platform that has some 71 million active daily users who discuss niche subjects in niche groups. On Thursday, the San Francisco-headquartered company signed a $60 million-a-year deal — in Google VP, engineering, Rajan Patel's words, 'a new Cloud partnership' — that will allow Google to mine the social media site's vast content to train its generative AI models. It had taken eight months for Reddit to sign up a big AI company, after CEO Steve Huffman announced in June 2023 that AI companies consuming Reddit's data to train their LLMs would have to pay up. It appeared as an attempt to bolster the company's revenues and attain profitability before an IPO. 'We'll continue to be profit-driven until profits arrive,' Huffman had said then. The same month, Reddit also announced that all developers like Apollo, Sync, Pushshift and RiF would have to begin paying for using the Reddit API. Many developers were outraged, because Reddit had become a significant social media site by allowing its API to be used for free by developers to build their bots and services. Many dropped out, claiming the new fee-paying model wasn't sustainable, despite the fact that they were making money from subscribers and ads, which they were not sharing with Reddit.

Tesla CEO Elon Musk is serious about moving the electric car company out of Delaware and reincorporating in Texas, he got good news yesterday from a judge in Delaware Chancery Court. In a case involving Tripadvisor, Vice Chancellor Travis Laster said that the online travel site can go ahead with plans to move its state of incorporation from Delaware to Nevada. The move was pushed by Tripadvisor's controlling shareholder, Greg Maffei, but was opposed by shareholders who argued that Maffei's goal was to evade accountability in Delaware courts.

Meghan Markle has tried to reach out to her estranged sister-in-law Kate Middleton, but the Princess of Wales is not in the mood to respond right now as she is recovering from surgery that she underwent recently. According to 'The Daily Mirror' the Duchess of Sussex, tried to contact Catherine after Markle's husband, Prince Harry, visited his father, King Charles III. The monarch was recently diagnosed with a new type of cancer and his younger son came from the US to see him.

Enemy properties vested with government-appointed custodians are not assets of the central government which cannot seek exemption from paying municipal cess, including house and water taxes, the Supreme Court has held. The verdict was delivered by a bench comprising Justices BV Nagarathna and Ujjal Bhuyan on Thursday on an appeal of the Lucknow Municipal Corporation against an Allahabad High Court judgment holding that the civic body cannot seek property taxes from the assessees who are in occupation of an enemy property. The property in question is located on Mahatma Gandhi Marg in Lucknow and was once owned by the 'Raja' of Mahmudabad, Mohammad Amir Ahmed Khan, who had migrated to Pakistan in 1947. However, the son and wife of Khan remained in India and later sought its return after the death of the 'Raja'.

Byju's investors unanimously vote to oust founders, revamp board "As the founders did not participate in the meeting, the quorum was never legitimately established, rendering the resolutions null and void," Byju's said. The edtech company further added, “These resolutions were voted upon without the valid constitution of a quorum, as stipulated in Byju’s Articles of Association.

By Nivedita Balu and Arasu Kannagi Basil

Losses incurred by the German central bank rocketed into the tens of billions in 2023 due to higher interest rates, requiring it to draw on the entirety of its provisions to break even.

By Joseph Ax

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Council For Fair Business Practices (CFBP) in Mumbai, mainly supported by VIP and the Tata Group, had the who’s who of the corporate world in attendance. Senior lawyer and CFBP president Swapnil Kothari said, “In today’s competitive times, fair business practices are more imperative — whether for a corporate behemoth, a small-scale enterprise or an individual. “CFBP considers itself to be the pioneer and the custodian of ethics, as it passionately professes, practises and propagates fair practices in an endeavour to touch every spectrum of society — be it industry, medicine, law, women empowerment or education. Carrying forward the legacy of our visionary founders, primarily JRD Tata, Ramkrishna Bajaj and Soli Godrej, I feel that today, and for the next 25 years, business ethics, climate change and women empowerment will be the buzzwords in the corporate world or our societal consciousness.” Ex-advisory board member and 16th Finance Commission chief Prof Arvind Panagariya set the tone for the morning by going back in history about the scriptural essence of ethics and how they were steeped into the sublime consciousness of the great founders of CFBP.

India does not 'rush' into any Free Trade Agreement (FTA) if the pact is not equitable, balanced, and fair for the country, Commerce and Industry Minister Piyush Goyal on Friday said. He said that the ground realities in India have changed now and the offers made by partner countries in these agreements are «not at all» comparable to what India is offering to the world. At present, negotiations for FTAs with the UK, Oman, and the four-nation European Free Trade Association (EFTA) are nearing conclusion. EFTA members are Iceland, Liechtenstein, Norway, and Switzerland.

Sandip Sabharwal, asksandipsabharwal.com, says “the market is becoming tougher and tougher, that is the issue, because whatever you held and you thought it should move up, those stocks have moved up too much. On the largecap side, Maruti still has legs and could go higher. L&T after the correction on the Saudi Aramco postponement of orders, could, as that has corrected 10% from the top and that could open with some upside. On the midcap side, we have bought V-Guard Industries. It is at the same level. It has not moved at all because people are not yet confident in the consumer durable story. That looks like a reasonable low volatility bet to me.” Sabharwal also says: «We own M&M, Maruti, as well as Tata Motors, and we continue to hold and have no intention of selling in the near term.» With all that is happening with NVIDIA stellar moves, largest single day gain in history. What is it that you are making of tech in particular and the kind of strides that we have made here? Sandip Sabharwal: Technology is a great story, but in innovative companies which exist either in the private space in India or in countries like US, Korea, etc.

South Indian Bank are rejoicing over the bank's extraordinary performance in recent months. After experiencing a significant decline between CY18 and CY21, during which the stock depreciated by approximately 71.45%, there was a notable turnaround in the subsequent year, leading to sustained upward momentum in the following years. In CY22, the stock rebounded strongly with a remarkable return of 112.43%, followed by another surge of 42% in the subsequent year.

farmers’ protests bother you? Perhaps not, once you recognize the parallels between farming and investing, provided you take a closer look. Consider your approach to investments. Do you exhibit the same patience as a farmer does with their crops? Have you ever witnessed a farmer shouting at their crops? Contrastingly, you often find new investors expressing frustration when the market doesn’t align with their expectations.

₹13.50 apiece on BSE. This intraday high turned out its new 52-week peak as well.

The Reserve Bank of India (RBI) gives the highest importance to the security controls around the digital payment systems in India. There is a lot of emphasis on the safety and security of digital transactions for their users. “In an era of digital transformation, RBI has taken significant strides to ensure the sanctity and safety of digital payments. By implementing specific OTPs for new payees, individual OTPs for high-value transactions, and limited OTP time windows, their measures, including the use of advanced encryption and authentication technologies, second channel notifications, and risk-based transaction monitoring, underscore a commitment to fostering a secure, reliable, and resilient digital payments ecosystem," said Kunal Varma, CEO and Co-Founder, Freo.

net profit at Rs 227 crore for the fiscal ended March 2023. The company had recorded a net profit of Rs 204 crore in the previous fiscal. According to the company's financial data sourced by Tofler, operating revenue increased 26% to Rs 745 crore, with 64% of the revenue coming from outside India.

Delhi Chalo march. Tanmanjeet Singh Dhesi, a Sikh Member of Parliament from Britain said the ‘freedom of expression’ of farmers must be protected. Addressing the Parliament, the Dhesi MP said, “Many of my Slough constituents, including members of the Sikh community and Gurdwaras have written to me regarding their serious concerns about the safety of protesting farmers in their attempt to march towards New Delhi." “Yesterday, a protestor was killed during a reported standoff with the police wherein, the cause of death was, and I quote: "a bullet wound to the head"," Singh told the House.

PAG Asia, one of the largest global alternative investment managers, will invest ₹400 crore in bonds of a M3M India group entity to refinance existing debt and acquire land, said people with knowledge of the matter. PAG's Asia Pragati Strategic Investment Fund will invest in Lavish Buildmart, a 100% subsidiary of M3M India — the real estate developer whose promoters were questioned by the Enforcement Directorate last year for unauthorised transactions with the IREO group.

NCPCR) has written to the ministry of electronics and information technology highlighting the lack of KYC norms for gambling apps and websites, which it claims has led to unlawful participation of children on these platforms. In a letter sent on Wednesday, the NCPCR said that a complaint from New Delhi-based trust 'Society against gambling' spoke of the «presence of numerous illegal online gambling websites and applications operating within the country, posing a significant threat to the future well-being of children». ET has seen a copy of the letter.

Investors in edtech firm Byju’s parent Think & Learn Pvt. Ltd who have called today’s extraordinary general meeting (EGM) have raised concerns over the management's failure to enforce the company’s rights related to the acquisition of Aakash Educational Services Ltd (AESL), besides agreeing to “onerous” and “prejudicial” loan terms with Davidson Kempner (DK), among other matters. They have demanded the ouster of founder Byju Raveendran and his family from leadership roles in the edtech firm, accused the company of keeping stakeholders in the dark, asked for details regarding investigations by federal agencies and want to know the terms being offered to any new investors.