NEWS

Posted On:
09-03-2024

OpenAI's Sam Altman returns to company's board after probe clears him

Open AI Chief Executive Officer Sam Altman was cleared of any wrongdoing that would have mandated being fired from the company late last year, according to a report based on a monthslong investigation into the events leading up to his brief ouster. WilmerHale, the law firm that conducted the inquiry, found that the board’s decision to fire Altman was a “consequence of a breakdown in the relationship and loss of trust between the prior board and Mr. Altman,” the artificial intelligence startup said Friday. It did not arise from concerns about product safety, the pace of development or OpenAI’s finances, it said. Altman is rejoining the company’s board following the findings. OpenAI’s board is also adding Sue Desmond-Hellmann, who previously was head of the Bill and Melinda Gates Foundation; Nicole Seligman, an ex-Sony Entertainment executive; and Instacart CEO Fidji Simo. The board said it would continue to add new members.

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Posted On:
09-03-2024

Samsung to launch Galaxy A55, Galaxy A35 on March 11: Expected price, specs

Samsung is gearing up to launch two smartphones in its premiere Galaxy A-series on March 11. These two are now confirmed to be the Galaxy A55 and Galaxy A35. Moreover, key details of both the smartphones are now available since both were briefly available for purchase in Germany ahead of the launch. But before we dig in to speculated details, here is what Samsung has officially confirmed about its upcoming A-series smartphones without naming the exact models: Samsung in a press note said that the smartphones will come with flagship features, premium design and powerful processors, ensuring a premium experience for the users. On design, Samsung said, the two Galaxy A series smartphones will feature flagship-inspired design, built with premium materials. Both the smartphones will come with IP67 rating for spill resistance and will be protected by a stronger Gorilla Glass compared to last year’s Gorilla Glass 5. About cameras, Samsung said, both the Galaxy A series smartphones will feature an advanced camera for nightography. Samsung has committed four OS updates and five years of security updates to the upcoming smartphones.

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Posted On:
09-03-2024

JM Financial: Sebi initial probe points at Piramal Enterprises’ NCD

On Thursday, Sebi prohibited the parent company JM Financial from acting as the lead manager for any new debt public issue. Markets regulator Securities and Exchange Board of India in its routine examination of JM Financial found that the non-convertible debentures (NCDs) issue was floated by Piramal Enterprises in 2023. Though Sebi has not mentioned the name of the issuer, as per details provided in the Sebi’ order, it is clear that the NCD issue was of Piramal Enterprises, the Financial Express reported. In November 2023, Piramal Enterprises raised Rs 533 crore through the issue of NCDs. The base issue size was Rs 200 crore, with a green shoe option of up to Rs 800 crore, aggregating up to Rs 1,000 crore. JM Financial, AK Capital Services, Nuvama Wealth Management and Trust Investment Advisors were the merchant bankers to the issue. The issue opened on October 19, 2023, and closed on November 2, 2023.

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Posted On:
11-03-2024

Jio Financial rallies 8%, hits new high on heavy volumes in weak market

Shares of Jio Financial Services (JFS) hit a new high of Rs 359 as they rallied 8 per cent on the BSE in Monday's intraday trade, amid heavy volumes, in an otherwise weak market. The stock of the non-banking finance company (NBFC) surpassed its previous high of Rs 348 touched on February 26. In the past two months, the stock price of JFS has appreciated by nearly 50 per cent. In comparison, the S&P BSE Sensex was down 0.64 per cent at 73,643 at 03:02 PM.

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Posted On:
11-03-2024

Sun Pharma recalls 55,000 bottles of generic drug from US market

The New Jersey-based unit of the Mumbai-based drug major is recalling Febuxostat Tablets in 40 mg and 80 mg strengths, the US Food and Drug Administration (USFDA) said in its latest Enforcement Report. Drug major Sun Pharma is recalling around 55,000 bottles of a generic medication to treat gout from the American market due to manufacturing practices norms deviations, according to the US health regulator. The New Jersey-based unit of the Mumbai-based drug major is recalling Febuxostat Tablets in 40 mg and 80 mg strengths, the US Food and Drug Administration (USFDA) said in its latest Enforcement Report. Sun Pharmaceutical Industries Inc. is recalling 47,520 bottles (40mg) and 7,488 bottles (80 mg) respectively of the medication due to Current Good Manufacturing Practice regulations (CGMP) deviations, it stated. "Microbial contamination was reported in stagnant water in the duct of the manufacturing equipment," the USFDA stated.

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