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Microsoft and Meta are stepping up spending to build out AI data centers in a rush to meet vast demand, but Wall Street is hungry for a quicker payday on the billions invested. Microsoft and Meta both said on Wednesday their capital expenses were growing due to their AI investments. Alphabet, too, reported on Tuesday that these expenditures would remain elevated. Amazon, which is set to report results on Thursday, is likely to echo these forecasts.

Subscribe to enjoy similar stories. That artificial intelligence (AI) would start taking over software coding was anticipated. Sundar Pichai, chief of Google’s parent Alphabet, has put out a figure that offers us a sense of its speed.

Subscribe to enjoy similar stories. Gold is heavy. Moving it is an onerous task.

Subscribe to enjoy similar stories. Sometimes to win a match you need to swallow your vomit. This isn’t pride, it’s a tactic.

Subscribe to enjoy similar stories. NEW DELHI : India's anti-trust regulator has set up an internal committee to recommend a set of norms on ‘conflict of interest’ for officials, according to two persons aware of the development. Once the draft regulations are ready, the Competition Commission of India (CCI) is likely to seek public comments before implementing it, one of the persons said on the condition of anonymity.

Federal Reserve rate cuts. Shares in Australia and Japan opened lower, and a gauge of US-listed Chinese companies slipped in New York trading on Wednesday. US futures declined, weighed down by post-market losses for Microsoft Corp. shares, which fell around 4% in late trading after disappointing second-quarter forecasts. The S&P 500 lost 0.3% and the Nasdaq 100 dropped 0.8% Wednesday.

Dhanteras, which marks the start of Diwali, was celebrated. Better tax structure for these products and strong returns in the recent past prompted investors to buy gold and silver ETFs on that day, considered auspicious for buying precious metals. The combined turnover of gold and silver ETFs stood at ₹428 crore on October 29 as against ₹89 crore on the eve of Dhanteras last year. While gold ETF volumes surged from ₹65 crore to ₹236 crore, silver volumes jumped from ₹23.6 crore to ₹191.6 crore. ETFs are bought and sold like listed stocks.

Bharti Telecom, a key holding company of the Bharti Group for its telecom business, is raising ₹11,150 crore through a new issuance of non-convertible debentures (NCDs), mainly to refinance existing high-cost debt, said people close to the development. The issuance is divided across various tenors and series. The annual coupon rate for the debentures will range from 8.25% to 8.9%, with payments to be made annually and upon maturity for each respective tranche.

Tamil Nadu’s Ranipet district, famed for being a hub for power loom weaving. But the small town, which is barely a hundred kilometres from state capital Chennai, is now poised to emerge as a nodal destination for global automobile manufacturing. In September, Tata Motors broke ground for its Rs 9,000 crore greenfield factory designed to produce cars for local and overseas markets for Tata Motors and JLR. The ambitious project is expected to create over 5,000 employment opportunities--both direct and indirect--and drive significant skill-building in the local community. Panapakkam has a population of around 11,536 as per 2011 census with residents primarily engaged in agriculture and weaving. The town is known as the production centre for power loom lungis, the sarong-like wrap favoured as everyday wear by multitudes of south Indian men.

payments pie, have drastically cut down on these spends. PhonePe, Paytm, Amazon Pay and Cred have all cut down on their overall marketing spends and have reduced the incentives for their customers, data from the last two years show. Walmart-backed PhonePe, for example, spent only Rs 15 crore on customer incentives in the financial year 2024, down from Rs 950 crore in FY2019, according to its annual report.

Microsoft on Wednesday reported its quarterly sales grew 16% to $65.6 billion as the company sought to assure investors its huge spending on artificial intelligence is paying off

Meta Platforms Inc. has posted stronger-than-expected third-quarter results fueled by its advertising revenue growth and its push to incorporate artificial intelligence

A pivotal actor in the meme stock craze that began during the pandemic continues to hold a powerful sway over the movement of shares in major U.S. corporations

Autonomous truck company Aurora Innovation says it won’t start hauling freight without humans on board until April of next year

Malaysia's High Court has ordered imprisoned former Prime Minister Najib Razak to enter a defense in his second corruption trial over the multibillion-dollar looting of the 1MDB state investment fund

U.S. stock indexes gave up an early gain and ended slightly lower following a mixed set of profit reports from giants like Google’s parent company and Eli Lilly

West Bengal Junior Doctors' Front (WBJDF) hit the streets again demanding swift justice for the medic who was raped and murdered at RG Kar hospital recently. They took out a march from West Bengal Medical Council to CBI headquarters at CGO Complex on Wednesday.

liquidity coverage ratio (LCR) buffer in anticipation of tighter central bank norms kicking in next fiscal, with analysts anticipating a shrinkage in the buffer once the exact thresholds are known. Bankers expect that the higher buffer will decrease once the final circular is published by the Reserve Bank of India (RBI), most likely by December for implementation from next fiscal. Analysts expect a reduction in LCR by 7 to 10 percentage points from current levels. As of now, banks are mandated by the RBI to maintain 100% LCR, which is made up of high-quality liquid assets (HQLA), mainly consisting of government securities and publicly traded common stocks. Most banks have an LCR of about 120%, with some private banks maintaining this buffer over 130%.

Apple Original Films has announced the sequel to its 2023 action-comedy The Family Plan. Mark Wahlberg and Michelle Monaghan will return, reprising their roles in the successful film alongside original cast members.

Apple today launched the 2024 refresh of its most powerful laptop, the MacBook Pro, presumably the last (and best) product reveal of what has been a week full of “Mac focused” announcements kicking off with the new iMac, then the Mac Mini update. The spotlight is on M4, its latest and greatest chip that made its debut earlier in the year inside the iPad Pro. An M4-based Mac was inevitable. While the iMac got the M4, the Mac Mini got first dibs at the M4 Pro. The MacBook Pro unsurprisingly takes it up a notch by debuting an even more powerful version—M4 Max. Like the 2023 version, the sequel also offers three combinations—M4, M4 Pro, and M4 Max. You can—yet again—get it in two sizes: 14- and 16-inch with prices starting at Rs 1,69,900. The M4 MacBook Pro is available to pre-order today and it will be available starting November 8.