Business News LIVE Updates: September 14, 2024
In the fast-paced world of business, staying updated with real-time news is crucial for investors, entrepreneurs, and anyone interested in the economic landscape. Today, September 14, 2024, we bring you the latest developments from the business sector, covering everything from major corporate news to market trends and economic policies.
Major Headlines
Amazon and Flipkart Under Scrutiny
In a significant development, the Competition Commission of India (CCI) has accused e-commerce giants Amazon and Flipkart of violating competition laws. The CCI alleges that these platforms engaged in exclusive launches with smartphone manufacturers, including Samsung, Xiaomi, Motorola, Vivo, Lenovo, Realme, and OnePlus. This practice is believed to undermine fair competition in the market. For more details, you can read the full story here.
OpenAI’s New Model Breaks Ground
OpenAI has unveiled its latest model, o1, which reportedly solves 83% of problems presented in the International Mathematics Olympiad. This breakthrough could have far-reaching implications for scientific research across various fields, including physics, chemistry, and engineering, where complex problem-solving is essential. For further insights, check out the full article here.
Adobe’s Strategic Moves in AI
Adobe is making strides in the AI landscape with the introduction of its Firefly AI videos, which are being rolled out cautiously to ensure safety. This move comes as Adobe seeks to compete with OpenAI’s Sora and Canva, particularly by offering support for Indian languages in its Express platform. More on this can be found here.
TCS Employees and Tax Notices
In a recent report, Tata Consultancy Services (TCS) addressed concerns regarding income tax notices sent to some of its employees. The company clarified that these notices were due to discrepancies and assured employees that their Income Tax Returns (ITRs) would be reprocessed without any demand for payment. For more details, read the full story here.
EU’s Stance on Google
Sources indicate that the European Union is unlikely to issue a breakup order against Google in the near future. However, regulators are expected to impose a substantial fine following antitrust chief Margrethe Vestager’s previous threats regarding Google’s advertising technology business. For more information, click here.
Gold and Silver Prices Update
As of today, the price of 10 grams of 24-carat gold in Delhi stands at ₹75,310, while 1 kg of silver is priced at ₹89,500. These rates are crucial for investors and consumers alike, reflecting the ongoing trends in precious metals. For the latest prices in your city, check here.
Insights on the Big Four in China
An explainer on the Big Four accounting firms reveals that they audited 12% of companies listed on the Shanghai Stock Exchange and 5% on the Shenzhen bourse as of March. This highlights the significant role these firms play in the Chinese market. For a deeper dive, read more here.
Byju’s Bankruptcy Ruling
The recent bankruptcy ruling for Byju’s in the US has caught Indian officials off guard, raising concerns about its implications for ongoing insolvency proceedings in India. Pankaj Srivastava, the Interim Resolution Professional for Byju’s, expressed surprise at the development. For further details, click here.
India’s Edible Oil Import Tax Hike
In an effort to support local farmers, India has increased the import tax on palm, soybean, and sunflower oils. This move is expected to raise edible oil prices and potentially dampen demand, impacting overseas purchases. For more insights, read the full article here.
Conclusion
As we navigate through the complexities of the business world, these updates provide a snapshot of the current landscape. From regulatory challenges faced by major corporations to advancements in technology and shifts in market dynamics, staying informed is key. Follow us for more updates as we continue to track the latest developments in the business sector.