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European Union's industry chief has called on the United States to pass new technology regulations, in the hopes of fostering a cohesive digital marketplace across the Atlantic.

European Union tech regulators to ensure that Google takes their views into account, and not just large intermediaries, when making changes to comply with landmark tech rules.

Thomas Piketty suggests India should impose a wealth tax on the ultra-rich to tackle inequality and create fiscal space for investments in the social sector. The paper, released on Friday, suggests imposing a 2% annual tax on net wealth over ₹10 crore, and a 33% inheritance tax on estates exceeding ₹10 crore in valuation. This could generate revenue amounting to 2.73% of gross domestic product (GDP), it said. According to the paper, Towards Tax Justice & Wealth Redistribution in India: Proposals, based on the latest inequality estimates, 0.04% of the adult population holds more than a quarter of total wealth, and imposing this tax would leave 99.96% unaffected. «Progressive wealth taxation, effective redistribution, and broad-based social sector investments are urgently needed to build an equitable and prosperous India,» said Anmol Somanchi, one of the four authors of the report.

an anonymous 14-page memo and other documents containing “disturbing allegations" about the STRS board and was handing them over to authorities. Republican Attorney General Dave Yost launched an investigation the next day into what he called the fund's “susceptibility to a hostile takeover by private interests." He followed up with a lawsuit seeking to unseat two reform-minded board members — Wade Steen and Rudy Fichtenbaum — for backing a plan to turn over $65 billion, or roughly 70% of STRS assets, to a fledgling investment firm called QED. The outfit is co-run by two people, one a former deputy Ohio treasurer, out of a condo in suburban Columbus.

Nvidia's most advanced AI chip it developed for the China market has got off to a weak start, with abundant supply forcing it to be priced below a rival chip from Chinese tech giant Huawei, according to sources familiar with the matter. The flattening prices underscore the challenges Nvidia's China business faces amid U.S. sanctions on AI chip exports and heightened competition, casting a cloud over its future in a market that contributed 17% to its revenue for fiscal 2024.

TikTok on Thursday said it was putting restrictions on state-backed media to counter acts of foreign influence on the platform during an important election year in multiple countries. The move comes after the United States handed TikTok an ultimatum to divest from its Chinese owners or face a potential ban in the US market, based on concerns the app could be used to influence Americans.

The independent bookstore boom continues

China’s latest artificial intelligence chatbot is trained on President Xi Jinping’s doctrine in a stark reminder of the ideological parameters that Chinese AI models should abide by

Workers at a Georgia school bus manufacturer have approved their first union contract

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Best travel credit cards: It’s summer season, and schools are soon going to be closed for a long-awaited vacation in most parts of the country. During this time of the year, some people plan long holiday stays at their dream destinations, while some go for a quick getaway to the nearest tourist hotspots. Whatever may be your plans, if you have the right credit card with you, it can help you get the best deals and save money. There are hundreds of credit cards that offer exciting travel perks like free lounge access and hotel memberships.

Flipkart has closed a $1 billion funding round with Alphabet’s Google joining in with a $300-350 million cheque, the ecommerce major said on Friday. Flipkart has been valued at around $35-36 billion post this round, per sources in the know. Walmart had pumped in $600 million in the fundraise. ET first reported on December 21 about Flipkart's $1 billion funding plan.

Indian cinema has emerged a winner at the 77th Cannes Film Festival! Two Indian films — Chidananda S Naik’s ‘Sunflowers Were the First Ones to Know’ and Mansi Maheshwari’s animated movie ‘Bunnyhood’ bagged first and third prizes in the La Cinef category. ‘Sunflowers Were The First Ones To Know’ is the maiden directorial venture of Naik. Naik is a doctor-turned-director and an alumnus of the Film & Television Institute Of India. The heart wrenching movie is based on a local folklore of Karnataka which narrates a tale of an aging woman who steals a rooster. Mansi Maheshwari's animation film ‘Bunnyhood’ clinched the third prize in the La Cinef competition. Hailing from Meerut and an alumna of NIFT Delhi, Maheshwari crafted the film during her tenure at the UK's National Film and Television School.

Nvidia, the generative artificial intelligence boom is the gift that keeps on giving. After riding a demand surge sparked by Big Tech's rush to roll out chatbots, Nvidia now expects new AI models that are capable of creating video and engaging in human-like voice interactions to spur more orders for its graphics processors.

Tamil Nadu state board schools will reopen on June 6 after summer vacation. The school education department has directed all CEOs to make arrangements for reopening of the schools. Tamil Nadu announced summer holidays for children studying in classes I to IX early this year due to Lok Sabha elections on April 19. The Directorates of School Education and Elementary Education announced the summer holidays on April 13.

«We believe that given that the budget is going to be in July, there is still a lot of steam left. Even after the election results are out, I think the run-up to the budget should be good,» says Dinshaw Irani, CEO, Helios MF. There are two factors at play, one the short-term, which is from here to the election, which is 4th of June and then what happens to the market after that. In last three-four days, we have seen a sizable comeback in the markets, defence, railways, logistics, infrastructure, anything which has got to do with policy, that sector has seen a sizable rally. Do you think markets and some of these policy stocks are now priced to perfection and they are pricing in a near-perfect election scenario? The fact is that we never took that into cognisance in the first place. What we were clear about was that we just need the government to continue. It did not matter whether they came in with a 300-plus or a 400-plus kind of majority, all we needed was them to continue and the continuity is what we were looking forward to and I think more or less that is a given.

«Selling depends on whether you have some cash on the sidelines or not, because the longer-term prospects do not change. So, if you have 10-15% cash on the sidelines, then you do not necessarily need to sell,» says Sandip Sabharwal, asksandipsabharwal.com. What a magical Buddha Purnima it turned out to be, seems like the June 4th magic was struck yesterday itself. But where from here, do you think it is as good as it gets or do you think the short covering bout and maybe some long addition has only started now and the rally could very well have more legs to go? As always, I have maintained that what the Indian markets do because most markets globally are heavily overbought in a way will depend on global cues.

Mark Mobius, Chairman, Mobius Emerging Opportunities Fund, says in India, he is going to be looking at largecaps going forward because some of these largecaps have lagged behind the smallcaps. Incredible growth has been seen in the mid and smallcaps and now it is time for some of these largecaps to catch up. The whole infrastructure sector is particularly interesting and in the power sector, hydro power should not be forgotten. NHPC could be making a very interesting entry into hydropower area. One of the most interesting aspects of these companies is that they are not only exposed to growth in India, but also growth globally. What do you do about the valuations in the public sector entities because they have seen a massive re-rating in the last 12 months and in all certainty it seems like the current government is going to come back to power? Do you expect this momentum rally to continue or do you think the bulk of the rally and the value has already been tapped into? Mark Mobius: There is no question that there will be a correction.

OpenAI is releasing a majority of past employees from nondisparagement agreements tied to their exit contracts and equity, the startup confirmed Thursday. In a message sent to former employees Thursday, the company said it would not seek to cancel staffers’ equity that has vested if they spoke out about the company.“Regardless of whether you executed the agreement, we write to notify you that OpenAI has not canceled, and will not cancel, any vested units,” said the message, which was reviewed by Bloomberg. Current staff were also notified of the change.

visa fees could make doing business extremely difficult for Indian IT service providers and make a significant dent on their pockets. The Indian IT industry relies on H-1B visas to take tens of thousands of highly skilled workers to the US for specialty occupations as such professionals are in short supply there.

Tata Consultancy Services (TCS), India’s second-largest company by market value, believes realising the full potential of generative artificial intelligence (GenAI) will require more time, although the global technology services major has begun to see sufficient traction in this revenue stream. “Customers are actively seeking proof of concepts (POCs) to explore the efficiencies offered by Gen AI in application development, maintenance, and deployment automation,” Siva Ganesan, head, TCS’ AI.Cloud business unit, told ET. “However, realizing the full potential of Gen AI will require time, as enterprises and society grapple with various challenges.”