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OpenAI, Google, Anthropic hit with lawsuit to halt AI development

A group of nonprofits has filed a lawsuit against OpenAI, Anthropic, and other tech companies. They seek to prevent further development of advanced AI models citing potential harm to humanity. Company leaders have raised concerns about the dangers associated with artificial intelligence technologies. The lawsuit relies on California's laws regarding unfair b…

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Anthropic IPO share orders from China are said to be rebuffed

Investors based in mainland China and Hong Kong are excluded from placing orders in Anthropic's IPO. This decision reflects the strategic sensitivities between Washington and Beijing regarding technology advancements. Some investors are exploring alternative methods to participate in the public offering through offshore structures. Anthropic intends to compl…

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BofA adds January Fed hike to forecast, says quarterly pace no longer enough

BofA Global Research anticipates that the Federal Reserve will implement a rate hike in January 2027. This adjustment follows the unexpectedly high Consumer Price Index report for October. Expectations of a 25-basis-point increase are supported by increasing inflation driven by various factors. Other banks like Goldman Sachs and Deutsche Bank have also revis…

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US stocks: US stocks reverse early gains as Nvidia turmoil hits tech sector

US stocks fell as Nvidia’s leadership turmoil triggered a broad technology selloff, sending the Nasdaq down 1.42% and the S&P 500 nearly 1% lower. Softer-than-expected producer inflation offered little relief as investors weighed the outlook for interest rates and the wider AI trade.

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Chicago Fed's Goolsbee says on CNBC the Fed needs to guard against demand overheating

Chicago Fed president Austan Goolsbee stated that inflation has moved beyond temporary energy and tariff-related price shocks. He highlighted that increased demand from the AI buildout is pushing prices higher across many sectors including health care and services. Goolsbee emphasized the importance of upcoming inflation data for determining the Fed's rate i…

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US Treasury chief says Fed should not hike rates over energy shock tied to Iran war

During his speech, US Treasury Secretary Scott Bessent advocated for the Federal Reserve to keep an open mind about interest rate adjustments. He pointed out that the current economic indicators could be skewed due to a supply shock from the ongoing conflict in Iran. Despite recent market volatility, Bessent stressed that the US economy remains robust.

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MAN Industries PAT rises to Rs 82 cr in Q2

MAN Industries (India) Ltd has announced a substantial increase in consolidated profit after tax during the September quarter. The company's revenue from operations also saw a notable rise year-on-year, reflecting strong performance. The acquisition of National Pipe Company has positively impacted scale and profitability for the firm. Shipping disruptions in…

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Godrej Properties buys 31-acre land in Indore for Rs 130 cr to build housing project

Godrej Properties Ltd has successfully purchased a sprawling 31 acres of land in Indore for approximately Rs 130 crore. The company is set to embark on the creation of residential plots, providing an impressive saleable area of around 0.7 million square feet. This project marks the firm's third venture in Indore, reflecting a commitment to addressing the ris…

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German yields set for biggest weekly rise in two months

As traders ramp up their expectations for European Central Bank interest rate hikes, yields on German government bonds are climbing steadily. This shift follows US inflation figures that were unexpectedly high, disrupting the bond market landscape. Meanwhile, global stock indices are witnessing a downturn, impacting the demand for traditionally safe assets.

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India 10-year bond yield reverses half of last week's drop on elevated inflation

Indian government bonds fell for a third consecutive session, driven by inflation and interest-rate outlook concerns. The benchmark yield increased to 7.3079%, reversing much of last week's gains. Retail inflation in India accelerated, surpassing the Reserve Bank of India's target range, which raises rate hike expectations. In the US, rising Treasury yields…

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How US tech pain is European stock markets' gain

European stock markets, particularly the STOXX 600, are performing well as tech turmoil affects global markets. This relative stability is attributed to Europe's lower exposure to tech giants compared to the US market. Companies in sectors such as energy and financials are supporting earnings growth, which is on track for 25% quarterly profit. Investors rema…

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Razorpay, Sembcorp Green Infra get Sebi nod to float IPOs

Razorpay Software Ltd and Sembcorp Green Infra recently received approval from Sebi for their initial public offerings, marking a major milestone in their growth journeys. Razorpay aims to secure Rs 5,000-6,000 crore to enhance its financial services platform, while Sembcorp Green Infra plans to raise Rs 3,750 crore to bolster its renewable energy initiative…

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Jagatjit Industries Q2 net loss narrows to Rs 4 cr, revenue rises 90%

Jagatjit Industries Ltd has reported a net loss of Rs 3.96 crore for the second quarter of FY27, significantly improving from Rs 27.91 crore lost during the same period last year. Total income surged to Rs 195.43 crore, up from Rs 103.11 crore. In the first half of FY27, the company posted an overall net loss of Rs 12.23 crore, a decrease from Rs 37.81 crore…

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India's gold imports plunge 62.57% to $5.51 billion in October as prices fall below $4,000/oz

India's gold imports fell 39.9% to $24.78 billion during April-October 2026, down from $41.24 billion a year ago, according to Commerce Ministry data. October imports plunged 62.57% year-on-year to $5.51 billion amid a correction in global gold prices. Meanwhile, India's gems and jewellery exports rose to $18.50 billion during the seven-month period.

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Indian rupee snaps rising streak on hawkish Fed, oil rise

In the past week, the Indian rupee faced downward pressure due to escalating oil prices. Although foreign investments offered some relief, they were insufficient to trigger a notable rebound. The Reserve Bank of India is expected to step in to boost forex reserves when the rupee shows strength. Furthermore, India's trade deficit in merchandise hit a yearly p…

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Supply shocks to weaken monetary policy effectiveness: CEA

Chief Economic Advisor V Anantha Nageswaran emphasized the diminishing effectiveness of interest rate adjustments in controlling inflation due to supply chain disruptions. He indicated that fiscal policies will play a critical role in addressing these supply-induced challenges. Nageswaran highlighted that many countries have struggled to meet their inflation…

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