Newsmen Business Desk

Horowitz emphasized the need for regulations that ensure ethical AI behavior without stifling innovation. He also highlighted the potential of decentralized technologies, such as blockchain and crypto, to create a fairer, more inclusive economy.

Profitability is a key focus, with 18% of founders already profitable and 58% aiming for profitability in the near to medium term. Cost-cutting measures are prevalent, with 38% reducing marketing spending, and 65% express concerns about revenue growth. Despite challenges, founders anticipate record highs in IPOs and M&As over the next five years.

The BSE Sensex experienced a notable surge, climbing 559 points to reach 71,108 points. Among the standout performers within the Sensex were IT stocks, with HCL Tech exhibiting a 5 percent increase, Infosys and TCS both rising by 4 percent, and Tech Mahindra recording a 3 percent uptick. Tata Steel also demonstrated a notable growth of 3 percent.

Last week, the two companies entered a partnership to establish an interoperable fast-charging network for EV two-wheelers, a first of its kind globally.

The move echoes a broader trend, as seen with music streaming giant Spotify, which recently announced a 17% reduction in its workforce to enhance productivity and efficiency, citing economic challenges and increased capital costs.

Simultaneously, the marginal cost of lending rate (MCLR) for the leading bank in the country has undergone an increase, now ranging between 8 percent and 8.85 percent. The newly revised rates took effect from December 15, affecting borrowers under various tenures.

While Nothing mentioned Sharma's departure due to personal reasons, they praised his significant role in building the brand in India and extended best wishes for his future endeavors.

This announcement was made at Gyan Bhavan, Patna, where Adani also formalized a Memorandum of Understanding with the Bihar government.

Rupak De, a Senior Technical Analyst at LKP Securities, highlighted the Nifty's breakout from consolidation, driven by a rise in long positions compared to short trades. The index's comfortable position above crucial moving averages indicates robust sentiment, with potential for further advances toward 21,400 and beyond, according to De. Support is evident at 21,000, where significant Put positions are held.

Despite ranking third in wealth creation, the Financials sector is the top Wealth Destroyer, accounting for 25% of the total Wealth Created by the top 100 companies during 2018-23. Notably, this remains below the levels observed during the Covid-hit study period of 2015-20.