india

ChatGPT maker OpenAI likely to go bankrupt by 2024
14 Aug

ChatGPT maker OpenAI likely to go bankrupt by 2024

Priyanka BhowmickBusiness, BUSINESS, India,
OpenAI, the AI ​​studio led by Sam Altman, may be on the brink of a potential financial crisis, as noted in a report by Analytics India magazine. According to the report, the company may go bankrupt by the end of 2024. Reports say OpenAI costs around $700,000 (Rs 5.80 crore) per day to run just one AI service – ChatGPT. Mr. Altman's OpenAI is burning through cash right now. Despite efforts to monetize GPT-3.5 and GPT-4, the company was not able to generate enough revenue to break even this time around. After launching in November 2022, ChatGPT became the fastest-growing…
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Jadavpur University alumnus arrested in connection with death of Swapnadeep Kundu
12 Aug

Jadavpur University alumnus arrested in connection with death of Swapnadeep Kundu

Priyanka BhowmickIndia
An ex-student of Jadavpur University was arrested on Friday and charged with murder in connection with the death of first-year student Swapnadeep Kundu on Thursday.Saurabh Chowdhury, the prime suspect in Swapnadeep's death, had completed his Masters in Mathematics from the university in 2022, but still shot at the main boys' hostel, lived there and was unofficially in charge of the hostel mess committee. The arrest came hours after the Jadavpur police filed an FIR against unidentified persons for murder. According to sources, Sourav was named in the FIR.Joint CP (Crime) Sankh Subora Chakraborty said, "Swapndeep's father Ramprasad Kundu submitted a…
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Deloitte likely to resign as auditor of Adani Ports
12 Aug

Deloitte likely to resign as auditor of Adani Ports

Priyanka BhowmickBusiness, India,
Deloitte Haskins & Sells LLP is set to step down from its role as auditor of Adani Port and SEZ, Reuters reported. It comes after auditors raised concerns about certain transactions highlighted in a report by US short-seller Hindenburg. A person with direct insight into the situation shared this information with the news agency. According to sources, the auditor reportedly had differences with management regarding some transactions. Deloitte is expected to formally announce its resignation as Adani Port's auditor in the next few days, a source told The Economic Times. It should be noted that Deloitte has been auditing the…
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Rajya Sabha passes data protection bill
11 Aug

Rajya Sabha passes data protection bill

Priyanka BhowmickIndia
The Rajya Sabha on Wednesday passed the Digital Personal Data Protection Bill-2023 by voice vote even as opposition members staged a walkout over the Manipur issue. The bill comes six years after the "right to privacy" was declared a fundamental right, with provisions to prevent the misuse of individuals' data by online platforms. Introducing the bill in the Rajya Sabha, I&T minister Ashwini Vaishnab said: “We received inputs from 48 organizations and 39 ministries and received a total of 24,000 comments on the bill. For the first time, citizens of the country using digital services have been given rights and…
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Chandrayaan-3 now 1,437km away from Moon’s surface
10 Aug

Chandrayaan-3 now 1,437km away from Moon’s surface

Priyanka BhowmickIndia,
After Chandrayaan-3 spacecraft moved closer to the lunar surface, it went through another orbital reduction strategy, ISRO released a new image on Thursday. Chandrayaan-3, India's ambitious third moon mission spacecraft, entered lunar orbit or moon orbit on August 5, after launching on July 14. https://twitter.com/isro/status/1689501590531760128?s=20 On Wednesday, ISRO tweeted,"Even closer to the moon’s surface. Chandrayaan-3's orbit is reduced to 174 km x 1437 km following a maneuver performed today."The next operation is scheduled for Aug. 14, between 11:30 a.m. and 12:30 p.m., ISRO said. According to ISRO sources, there will be two more orbit reduction techniques to bring the spacecraft…
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Paytm Payment Services auditor PwC resigns
09 Aug

Paytm Payment Services auditor PwC resigns

Priyanka BhowmickBusiness, India,
PwC has resigned as auditor of Paytm Payment Services (PPSL), a subsidiary of fintech major Paytm, effective August 7. The company has appointed SR Batliboi & Associates as its new auditor, Paytm owner One 97 Communications said in a note to the stock exchange filing on Monday. In its resignation letter to the board of directors of Paytm Payment Services dated August 7, PwC said there has been a change in auditors at the holding company level. "Consequently, keeping in mind your understandable practice of combining the auditors of PPSL with the auditors of the holding company as a material…
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MPL slashes 350 employees after 28% GST imposed on online gaming
09 Aug

MPL slashes 350 employees after 28% GST imposed on online gaming

Priyanka BhowmickBusiness, India,
Mobile Premier League (MPL), a prominent domestic online gaming platform, has cut its workforce by around 50%, affecting around 350 jobs. The move comes as the 51st GST Council meeting maintained the 28% tax on the gross value collected from online gaming, prompting the MPL to take measures to address its financial challenges. The Bengaluru-based startup initially informed employees about the upcoming job layoffs last week, followed by an official communication. Sai Srinivas, founder and CEO of MPL, explained in an internal email that the primary variable cost as a digital company involves staff, server operations and office infrastructure. Downsizing…
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Brainiacs roped in Ayushmann Khurrana as the brand ambassador
08 Aug

Brainiacs roped in Ayushmann Khurrana as the brand ambassador

Priyanka BhowmickBusiness, BUSINESS, India,
Brainiacs, a hybrid schooling platform powered by Birla Open Minds (affiliated with University of Cambridge) has announced Ayushmann Khurrana as its brand ambassador. Brainiacs combines technology with experiential learning, supported by a teacher training academy. It is to stimulate collaborative learning through an interactive learning pedagogy for students from nursery to grade 12. "With over 150 hybrid centres and specialized home tutors across India, the platform's focus is not limited to the school curriculum; It also offers a unique mental wellness course called coding, communication skills, vlogging, financial literacy, and soul science. We provide students with the perfect mix of…
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Indian origin Vaibhav Taneja appointed Tesla’s CFO
08 Aug

Indian origin Vaibhav Taneja appointed Tesla’s CFO

Priyanka BhowmickBusiness, BUSINESS, India,
Tesla, an automotive and energy company, has appointed Indian-origin Vaibhav Taneja as its chief financial officer. In an August 7 filing with the Securities and Exchange Commission (SEC), the company said he will assume duties as CFO in addition to his current role as chief accounting officer. He succeeded Zachary Kirkhorn who resigned on August 4 after a thirteen-year term with the company. Taneja joined Texas-headquartered firm Tesla in 2018 as an assistant corporate controller. Taneja(45) previously worked in various finance and accounting roles at SolarCity Corporation and PricewaterhouseCoopers (PwC) in India and the US. He is a Chartered Accountant…
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Man arrested for making objectionable remarks against Yogi Adityanath on WhatsApp group
07 Aug

Man arrested for making objectionable remarks against Yogi Adityanath on WhatsApp group

Priyanka BhowmickIndia, Political,
A man who runs a WhatsApp group has been arrested here following an "insulting" comment against the Uttar Pradesh chief minister posted on social media, police said on Saturday. Kotwali police station SHO Ajay Kumar Seth said a comment against UP Chief Minister Yogi Adityanath had gone viral on social media on August 4. The arrested person has been identified as Sahabuddin Ansari, while the person who posted the comment, identified as Muslim Ansari, is still absconding, he said. Seth said the police received a complaint in this regard through Twitter on August 4. He said a screenshot of the…
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