In a significant development U.S.-headquartered digital currency exchange CrossTower has set up a local unit in India and has launched a trading platform to increase its traction in the burgeoning domestic crypto market. The development comes at a time when the fate of cryptocurrency is still unclear in India. CrossTower India has hired 35 people…
On Monday, Oliver Blume, the CEO of luxury sports car maker Porsche AG said, the carmaker is attracting huge demand for its all-electric coupe Taycan model, causing wait times to stretch to up to six months. “Our original production capacity for the Taycan was 20,000 units this year – we’ve sold that many in the…
On Friday, China’s Semiconductor Manufacturing International Corp said, it will invest $8.87 billion to build a chip plant in Shanghai. The development underscores Beijing’s efforts to boost its independence in the chip manufacturing sector. The development comes at a time when global chipmakers are struggling to fulfill orders from the electronics and automotive industries triggering new…
In a statement the CEO of global cryptocurrency exchange Binance said, its U.S. arm could potentially see an initial public offering in the next three years. “Binance.US is just going to do what Coinbase did,” said Zhao. He went on to add, Binance.US is set to close on a large private funding round in the…
On Wednesday, in a statement Royal Dutch Shell announced its plans to significantly expand its network of electric vehicle charging points in Britain. Shell plans on installing 50,000 on-street charging stations by 2025; it plans on implementing its plan through ubitricity, an on-street charging point company that it acquired earlier this year in February. Incidentally,…
Diesel prices have overtaken jet fuel prices in Europe for the first time in more than a year, revealing a deeper imbalance in the region’s refined-fuel market. The shift is not simply the result of stronger diesel demand or weaker aviation demand. It reflects a supply chain under pressure from several directions at once: reduced…
The European Central Bank is moving toward another interest rate increase not because the euro zone economy is overheating, but because a prolonged energy shock is threatening to keep inflation above target for longer than policymakers had expected. According to economists surveyed in recent reporting, the ECB is widely expected to raise its deposit rate…
The investment habits of wealthy households are increasingly diverging from those of ordinary investors, not necessarily because they possess access to secret investments, but because they approach wealth as a system rather than a portfolio. Recent wealth research and financial-industry analysis suggest that affluent investors are putting greater emphasis on diversification across private markets, real…
India is preparing for a broader overhaul of health insurance as rapidly rising medical costs put pressure on households, insurers and hospitals. The proposed reforms are expected to focus on standard treatment prices, clearer coverage rules and faster claims processing, according to people familiar with the discussions. The central objective is not simply to expand…
Myspace is preparing another attempt at a comeback at a moment when the biggest problem facing social media may no longer be attracting users, but keeping them from spending too much time online. The platform that once helped define the early social internet is being positioned for a return just as concerns over endless scrolling,…
Berkshire Hathaway has begun putting its enormous cash reserves to work at a pace that marks an important change in capital allocation under Chief Executive Greg Abel. The conglomerate repurchased $4.5 billion of its own shares in the second quarter and another $3.3 billion in July, while spending nearly $20 billion more on stocks than…
Moderna has begun the first human trial of its experimental vaccine against Bundibugyo virus disease at a moment when the Democratic Republic of Congo is facing one of the fastest-growing Ebola outbreaks ever recorded. The trial is significant because the strain driving the outbreak has no licensed vaccine specifically approved against it, leaving health authorities…
Alibaba’s reported plan to seek revenue-sharing agreements from major commercial users of its next open-weight artificial intelligence model marks an important change in the economics of open AI. The company appears to be trying to preserve the rapid adoption created by freely available model weights while capturing part of the commercial value generated by businesses…
Airbnb’s decision to spend substantially more on artificial intelligence reflects a shift in the company’s technology strategy from experimentation to aggressive deployment. Chief Executive Brian Chesky has argued that the returns from artificial intelligence now outweigh the cost of running increasingly sophisticated systems, with the technology helping the company attract bookings, improve host tools, accelerate…
Artificial intelligence model distillation has emerged as one of the most contentious issues in the growing technology rivalry between the United States and China, transforming a long-established machine learning technique into a debate over intellectual property, commercial rights and national security. The dispute is not centred on whether model distillation itself is technically legitimate. Instead,…
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