BUSINESS
Tesla sues former engineer for stealing supercomputer tech secrets
The Verge reported, citing court documents, that the electric car-maker has sued Alexander Yatskov for downloading the confidential information to his personal devices which he declined to give back. Yatskov violated company's policies by "removing Tesla confidential information from work devices and accounts, accessing it on his own personal devices, and creating Tesla documents containing confidential Project Dojo details on a personal computer".
Energy experts fear India's turn to 'dirty coal' commercially unviable
They say combined with the global pandemic and the Ukraine-Russia war, which has increased coal prices internationally, it should be a death knell for coal. The time to ramp up wind and solar is now so that India is prepared to deal with a warming world.
LIC IPO Day 5: Overall issue subscribed 1.79 times
The issue opened for subscription on Wednesday (May 4) and continues to see strong interest from all investor categories.
The portion reserved for eligible policy holders was subscribed 5.04 times, reservation for eligible employees was subscribed 3.79 times, retail category was subscribed 1.59 times, the non-institutional category witnessed subscription of 1.24 times, and qualified institutional buyers category saw subscription of 0.67 times.
RBI rate hike a surprise as it came between 2 review meetings: Sitharaman
"It is the timing which came as a surprise to many, but the act people thought should have been done anyway - to what extent could have varied," she said at The Economic Times Awards for Corporate Excellence in Mumbai on Sunday.
Jeff Bezos donates nearly $120 mn to nonprofit: Report
According to a Securities and Exchange Filings (SEC) filing, Bezos transferred 47,727 shares of Amazon stock to an unnamed nonprofit, worth a total of $118 million based on that day's closing stock price, reports Forbes.
Musk ignores govt calls as India Tesla team moves to other markets
His utter disinterest in responding to several requests made by the Indian government, especially by Union Road Transport and Highways Minister Nitin Gadkari, comes in the wake of reports that the team he hired in India last year has now been diverted to focus on the Middle-East and the larger Asia-Pacific markets.
Bitcoin, other cryptocurrencies in free fall after interest rate hikes
All cryptocurrencies were weighed down as central banks globally tried to control inflation by raising interest rates. Bitcoin is down more than 20 per cent since the beginning of this year. On Sunday, Bitcoin was hovering around $34,400 and ethereum, which is the second largest cryptocurrency, plunged 4.8 per cent to $2,545.
Musk says Twitter staff may face 'extreme' workloads if he takes over
While replying to an earlier tweet he shared about his plans for the micro-blogging site, he mentioned that he will still graft even harder than them to make the firm a success. "Also, work ethic expectations would be extreme, but much less than I demand of myself," Musk wrote on Twitter. Earlier, Musk had revealed that Twitter will focus deeply on hardcore software engineering, design, and more, following the completion of the acquisition of the micro-blogging site.
LIC IPO Day 4: NII segment fully subscribed; overall issue oversubscribed
The issue opened for subscription on May 4 and continues to see strong interest from all investor categories. The portion reserved for eligible policy holders was subscribed 4.67 times, reservation for eligible employees was subscribed 3.54 times, retail category was subscribed 1.46 times, the non-institutional category witnessed subscription of 1.08 times and the qualified institutional buyers category saw subscription of 0.67 times.
Toyota Group signs MoU with K'taka for Rs 4,800 crore investment
Speaking on the occasion, Bommai said, "As a state committed to sustainable development and contributing to the nation's progress, we want to make Karnataka a global supply-chain and manufacturing hub under our 'Build for the World' mission. This MoU with Toyota Group of Companies is a huge stride in this regard, and the Karnataka government is confident of Toyota's commitment towards sustainable growth and local manufacturing quality for Karnataka's development."
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