The Indian stock market reached to an all time high on Friday, with the Nifty surging to an all-time high of 22,297.50 points, and the BSE Sensex peaking at an impressive 73,427.60. The driving force behind this surge primarily emanated from the exceptional performance of financials and energy stocks.
Although the benchmarks indices are trading lower today, Nifty down by 0.37% and BSE Sensex lower by 0.43% as of 11:12 am. The market experts express confidence in the resilience of domestic equities, even in the face of fading hopes for an early US rate cut.
The marke…
The world’s biggest record labels are suing two artificial intelligence startups, taking an aggressive stance to protect their intellectual property against technology that makes it easy for people to generate music based on existing songs.
The Recording Industry Association of America said it filed twin lawsuits Monday against Suno AI and Uncharted Labs Inc., the developer of Udio AI, on behalf of Universal Music Group NV, Warner Music Group Corp. and Sony Music Entertainment. The complaints allege the companies are unlawfully training their AI models on massive amounts of copyrighted sound recordings.
The RIAA, a trade group for record labels, is seeking damages of as much as $150,000 “per work infringed.” That could amount to potentially billions…
As the year wraps up, several things are clear in an otherwise confusing economic picture: the U.S. economy is slowing, the stock market is surging, most people according to polls believe that inflation remains a severe issue, and the mandarins at the Fed who are responsible for containing inflation are still concerned about inflation. But what is far from clear is whether in its dedication to bringing inflation back to its 2% target the Fed is following a rigid script rather than honoring their overall mandate to ensure economic stability. Or to put it bluntly, in cleaving slavishly to a specific number, is the Fed sacrificing a stable economy on the altar of abstract theory?
At its last meeting of 2023, the Federal Reserve board held interest rates steady and affirmed its commit…
Haraldur “Halli” Thorleifsson spent nine tense days unsure whether his job at Twitter had been terminated before he decided to tweet at owner Elon Musk on Monday, asking for an answer. What ensued was a public spat on the platform, during which Musk questioned Thorleifsson’s work ethic and disability, and accused him of seeking a “big payout.” Within a day, Musk was forced to backtrack and issue an apology to Thorleifsson, as it emerged that terminating his employment could be very costly for Twitter.
Thorleifsson joined Twitter when the company acquired his startup in 2021, under the leadership of co-founder and then CEO Jack Dorsey. He was celebrated by the media in Iceland, where he lives, for choosing to receive the purchase price as salary, rathe…