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R3 and R3X are electric SUVs
US-based electric car startup Rivian has said it expects to produce 57,000 vehicles in a year, which is 5,000 fewer than Wall Street anticipated. Rivian said it has $7.86 billion in cash on hand, down from $9.1 billion at the end of the third quarter. It added that its cash burn rate has increased from…
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Corporate America has new climate rules, will they be able to reduce global warming?
The US Securities and Exchange Commission (SEC) has finalised new rules that will make it easier for investors to see how their companies are dealing with global climate change. Under the new rules, corporations won’t have to report on the amount of pollution from their operations as well as emissions from their supply chain and…
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We did not know about the Apple Car
Apple CEO Tim Cook has said, “We will see where it takes us” for self-driving vehicles. Cook further said that autonomous cars are “one of the most difficult AI projects” to work on. He added, “[It’s] probably one of the most difficult AI projects actually to work on and so autonomy is something that’s incredibly…
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Wendy’s says it doesn’t plan to introduce surge pricing
Wendy’s has said it will not implement “surge pricing”, adding that it is a practice of raising prices when demand is highest. The company also said it might reduce breakfast prices at certain times in order to encourage customers to come during what they currently have as relatively low-demand periods. The announcement comes after reports…
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The first US Moon landing since 1972 was achieved by Odysseus
Intuitive Machines’ Odysseus spacecraft has landed on the moon’s south pole, becoming the first private business to do so, officials said. This is the first privately-owned mission to reach the Moon in a cold and cold weather for landers, rovers, and astronauts. Odysseus landed 300 kilometres from the Moon’s south pole near the Malapert A…
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A Chinese hacking scheme is focused on harassing dissidents
Over 500 sensitive documents posted online anonymously last week details a Chinese technology company’s hacking operations and marketing materials for Chinese government. The documents contain details of internal pay scales and contract information with the Chinese government. The company is known to be one of many contractors and subcontractors competing for opportunities to perform hacking…
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The site is going public and is making it easy to invest
Reddit has filed for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC). Reddit listed data licensing and model training as part of its monetization strategy. “Reddit is one of the most important data sets of just human beings talking about interesting things in the world,” Co-founder and CEO Steve Huffman…
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Final Fantasy VII is an open-world game with a soul of 1997
Japanese video game developer Square Enix has released its latest instalment in the ‘Final Fantasy’ franchise, ‘Final Fantasy 7: The Unfinished Business’. The game is said to be the biggest expansion in the franchise’s history, with over 200 new features being added. The game includes more than 20 playable characters including Tifa, Aeris and Barret.
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The TikTok Shop is taking on Amazon with a single viral video
TikTok Shop has been criticised for its advertising and affiliate policies, with one of its creators saying that TikTok felt like an endless shopping list to her. “It just turned out to be more and more advertisements of some things I needed…but a lot of the time it was stuff I just didn’t need,” said…
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The collapse of China’s Evergrande property developer is covered here
China’s Evergrande Group, the country’s second-biggest property developer by market value, has been ordered to liquidate by a Hong Kong court. The judge said it was appropriate for her to order Evergrande to wind up its business given a “lack of progress on the part of the company putting forward a viable restructuring proposal” as…
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The collapse of China’s Evergrande property developer is covered here
China’s Evergrande Group, the country’s second-biggest property developer by market value, has been ordered to liquidate by a Hong Kong court. The judge said it was appropriate for her to order Evergrande to wind up its business given a “lack of progress on the part of the company putting forward a viable restructuring proposal” as…
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Sideload and alternate app stores are being added to the iPhone
Apple has announced that app developers in the European Union (EU) will be able to sell their apps through “third-party app stores”. The Core Technology Fee will only be charged if one million annual installs of the app in the EU are made. Apple said that 99% of developers would either reduce or maintain their…
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Some Apple apps will be modified for Vision Pro
Apple’s updated Terms of Service (TOS) stated that even if someone clicks a link and subscribes to a product through the App Store, they still owe Apple a commission. The TOS states, “If you sell a product through the App Store…Apple will get its cut one way or another.” However, Apple added that developers now…
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Microsoft unlocks Copilot AI inside office apps for businesses
Microsoft has launched its AI-powered ‘Copilot’ for small and large enterprises in the US to help create, edit and summarise documents. Users will be able to summon Copilot via the Teams app. If you want to summarize a meeting that you didn’t attend or one that you arrived late, Copilot is available in Teams. Email…
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eBay will pay $3 million for cyberstalking
eBay will pay $3 million to the US Department of Justice (DOJ) to settle charges that its employees and contractors had harassed ex-employees, including Ina Steiner, for reporting on the e-commerce giant’s sexual harassment lawsuit against Amazon. The company has agreed to a three-year corporate compliance monitor, among other things. Former eBay CEO Douglas Wenig…
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Here are the people who will get rich
Cryptocurrency exchange Coinbase and Gemini will provide custody services for nearly all the new spot Bitcoin exchange-traded funds (ETFs) that will be released by a group of companies, including BlackRock and Franklin Templeton. Only four multinational financial service firms have joined as authorised participants (APs) to date. However, the pool of firms that perform these…
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More Americans will be able to buy new coins because the U.S. has said yes to new funds
The US Securities and Exchange Commission has approved the first-ever exchange-traded fund (ETF) for Bitcoin, the world’s most valuable cryptocurrency. According to Bloomberg, this is the first time a Bitcoin ETF has been approved for trading. The SEC also approved two more Bitcoin-related ETFs, one based on the price of Bitcoin, another based on the…
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First US approved Bitcoin exchange traded fund
The US Securities and Financial Markets Commission (SEC) has approved spot bitcoin exchange-traded funds (ETFs) for investors. This comes a year after the agency had rejected the Winklevoss twins’ Bitcoin Trust, citing concerns about how Bitcoin is valued and held. A number of firms including Valkyrie Investments and Digital Currency Group have been approved for…
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Creative companies are being apologized for using artificial intelligence
iStock has teamed with Getty Images to launch ‘Generative AI by istock’, a text-to-image platform. The tool is designed to help businesses find stock photos. It lets users prompt Generative AI to create a picture ofPenguins walking through a street, instead of hiring a photographer or finding a flock of penguins. The product is the…
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Massive Layoffs Hit a Cruise
GM’s self-driving startup Cruise has fired nine executives, including co-founders Kyle Vogt and Dan Kan, as well as senior legal and policy officer Jeff Bleich. The move comes after GM announced a “pause” in automated testing and operations. The startup has lost over 7,000 crore since its inception in 2017, with its losses likely to…
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Science and Indian economics are in five charts
India spent less than 1% of its GDP on research and development in 2020, the most recent year for which data is available. China spent more than 2% of its GDP on research, while Brazil spent proportionately more. India has considered reorganizing its institutions to generate critical mass, enable more cross-disciplinary research and encourage partnerships…
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There is a need for renewable energy in the region
India’s electricity demand is expected to increase due to its rapid economic growth and transition to a low-carbon economy, a report by the McKinsey & Co said. It added that India will become the world’s third-largest power market by 2022 with a CAGR of 15.8%. India is the world’s largest producer of wind power and…
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Apple said that it took steps to protect its users
Beeper Co-founder Dmitry Migicovsky in a recent interview said Apple can’t keep them out forever and that the Beeper Cloud is still functioning. He also said he hopes the public will one day convince Apple to play nice. “The Beeper team has something to say for Beeper Mini,” he added. He also said Beeper Cloud…
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3 people, including the shooter, have been killed in the University of Nevada attack
A university student was killed and several other people were injured in a shooting at the University of Dayton in US’ Nevada on Wednesday, the sheriff’s department said. The shooting took place outside the business school building at the time of the shooting, marking the end of the term with picnics and games, the sheriff’s…
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A giant experiment will try to determine if rock dust can cut down on carbon emissions
Stripe, Alphabet, Shopify and several others plan to spend over $57 million cumulatively to fight Climate Change by spreading crushed rock over farmland. It is a tactic for trapping carbon dioxide called ‘enhanced weathering’. The carbon dioxide is trapped in the air with the help of the basalt. It has been studied for years and…