Treasury Secretary Janet Yellen said she sees a good chance of the US economy achieving a soft landing, with the unemployment rate — which has ticked up in recent months — averting a sharp increase. “Signs are very good that we’ll achieve a soft landing, with unemployment stabilizing more or less where it is, or … Read more
In an interesting development, Sam Altman and OpenAI‘s board have opened discussions to bring back the former CEO of the artificial intelligence startup, Bloomberg News reported. The future of OpenAI was thrown into jeopardy after more than 700 of its 770 employees signed a letter on Monday saying they may leave the company for Microsoft … Read more
Federal Reserve policymakers at their most recent meeting united around a strategy to “proceed carefully” on future interest-rate moves and base any further tightening on progress toward their inflation goal. “All participants agreed that the committee was in a position to proceed carefully and that policy decisions at every meeting would continue to be based … Read more
The Enforcement Directorate (ED) on Tuesday issued showcause notices to troubled edtech startup Byju’s and its founder and group CEO Byju Raveendran over alleged violation of the provisions of the Foreign Exchange Management Act (Fema) amounting to over Rs 9,362 crore. The ED, which had initiated investigation against the startup earlier this year, has accused … Read more
Mira Murati is the new interim CEO and CTO of OpenAI, a research organization that aims to create and ensure the safe and beneficial use of artificial intelligence. She is also one of the leading developers of ChatGPT, a conversational chatbot that can generate realistic and engaging texts on various topics. Murati was born in … Read more
The Burman duo – Dabur Group Chairman Mohit V. Burman and Director Gaurav V. Burman – has been listed in an FIR lodged by Mumbai Police in the Mahadev betting app case. It also includes Bollywood actor Sahil Khan and 28 other accused, ANI reported. However, Dabur issued an official statement and rejected any such … Read more
Two Aprils ago, the UK’s prime minister promised he would deliver a free-trade agreement with India “by Diwali.” That prime minister, Boris Johnson, left office a few months later and 2022’s iteration of the Indian Festival of Lights passed without anything being signed. Since then, another Diwali (and another British prime minister) has come and … Read more
Acquiring grounded aircraft in India remains a significant challenge, said two senior executives of the Challenge Group, which recently got court approval to acquire three wide-body aircraft of grounded Jet Airways after a delay of more than a year. “Unfortunately, it’s already been two years. It’s a very long period and the process has created … Read more
Troubled education provider Byju’s is in advanced talks to sell its US-based kids’ digital reading platform for about $400 million to Joffre Capital Ltd., seeking funds to ease its financial pressures. The potential sale of Epic! Creations Inc. would help Byju’s raise funds to pay down a disputed $1.2 billion term loan, people familiar with … Read more