The Economic Time
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GM to cut spending by $1 billion on robotaxi unit Cruise in 2024
General Motors is cutting spending by about $1 billion on its troubled robotaxi unit Cruise in 2024. Last week, Cruise disclosed probes by the U.S....
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AI officer is the hot new job that pays over $1 million
Businesses are now scrambling to appoint AI leaders, with some metaverse executives reinventing themselves as AI experts. Compensation packages for...
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Japanese ecommerce major Rakuten issues $1.8 billion of dollar-denominated 3-year senior notes
The fundraising will allow Rakuten to fully buy back its 10.25% senior notes and 3.546% senior notes due in 2024, which have a combined principal...
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AI companies lose $190 billion in market cap after Alphabet and Microsoft report
Microsoft, Alphabet, and Advanced Micro Devices experienced a selloff in their stock market value after failing to meet investors' expectations...
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A reset is on cards at Byju’s cap table post rights issue value cut
Depending on the final set of investors subscribing to the share sale, Byju’s founder Byju Raveendran may also end up owning more in the firm if he...
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PB Fintech locks maiden profit for third quarter at Rs 37.2 crore
PB Fintech, the parent entity which operates insurance aggregator Policybazaar and credit marketplace Paisabazaar, has turned profitable and...
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PharmEasy’s FY23 operating revenue up 16% to Rs 6,644 crore; net loss widens 30%
PharmEasy’s parent firm API Holdings cut down its advertising and promotional expenses to Rs 235 crore, less than half of what it incurred on this...
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TCS wins 15-year deal with UK insurer Aviva
TCS has won the deal expanding its existing engagement with UK-based insurance provider Aviva. As part of the deal, the end-to-end policy...
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Germany will approve EU's planned AI act
Germany will approve the European Union's landmark AI Act after the Free Democrats (FDP), part of the ruling coalition, dropped their objections,...
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Japan to offer $300 million for optical chip tech development
Participating companies include NTT, NEC, Furukawa Electric, Shinko Electric and Kioxia in consultation with Intel and SK Hynix.