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☆ India Train Crash Live Updates: Relatives Identify Crash Victims as Modi Visits Derailment Site
▼ + stars: | 2023-06-03 | by ( Sameer Yasir | Mujib Mashal | ) www.nytimes.com time to read: +7 min

The other passenger train was a Yesvantpur-Howrah Superfast Express train, running from a commuter hub in Bangalore to Kolkata, the capital of the eastern state of West Bengal. India’s railway minister, Ashwini Vaishnaw, said that he had ordered an investigation into the cause and that those affected by the crash would receive compensation. Site of the train crash An initial government report said that the Coromandel Express passenger train derailed while traveling at full speed. In 2016, 14 train cars derailed in India’s northeast in the middle of the night, killing more than 140 passengers and injuring 200 others. Within hours of Friday’s disaster, some opposition politicians were already calling for the resignation of Mr. Vaishnaw, India’s railway minister.

Persons: Ashwini Vaishnaw, Derailments, Jitendra Prakash, Narendra Modi, Modi, Modi’s, Amit Dave, Suresh Prabhu, Mr, Vaishnaw, Mujib Mashal Organizations: Chennai Coromandel Express, South Eastern Railway, Express, Coromandel, INDIA, Economic, Disaster Management, Reuters Rail Locations: India, Balasore, Odisha State, Shalimar, Chennai Coromandel, India’s, Howrah, Bangalore, Kolkata, West Bengal, Bahanaga Bazar, Bhubaneswar, Odisha’s, Odisha, Bihar, Pukhrayan, Delhi, Mumbai, Ahmedabad

☆ Scientists expand search for signs of intelligent alien life
▼ + stars: | 2023-05-31 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

Efforts to detect alien technological signatures previously have focused on a narrowband radio signal type concentrated in a limited frequency range or on single unusual transmissions. The search involves a frequency range covering a bit less than a tenth the width of an average FM radio station. "Aliens may possibly use such beacons for galaxy-wide communications, for which the core of the Milky Way is ideally placed. The scientists in the various monitoring efforts passively scan for signals of alien beings and do not actively send their own signals advertising our presence on Earth. "In my personal opinion, as a relatively young species in the grand cosmic scale, it would be prudent for us to focus on listening and investigating before embarking on deliberate transmissions," Gajjar said.

Persons: Akshay Suresh, Suresh, Vishal Gajjar, Gajjar, BLIPSS, Will Dunham, Rosalba O'Brien Organizations: Cornell University, Cornell, SETI Institute, SETI Institute and University of California, Thomson Locations: Berkeley, West Virginia

☆ OpenAI is pursuing a new way to fight A.I. 'hallucinations'
▼ + stars: | 2023-05-31 | by ( Hayden Field | ) www.cnbc.com time to read: +5 min

OpenAI is taking up the mantle against AI "hallucinations," the company announced Wednesday, with a newer method for training artificial intelligence models. To date, Microsoft has invested more than $13 billion in OpenAI, and the startup's value has reached roughly $29 billion. AI hallucinations occur when models like OpenAI's ChatGPT or Google 's Bard fabricate information entirely, behaving as if they are spouting facts. OpenAI's potential new strategy for fighting the fabrications: Train AI models to reward themselves for each individual, correct step of reasoning when they're arriving at an answer, instead of just rewarding a correct final conclusion. OpenAI has released an accompanying dataset of 800,000 human labels it used to train the model mentioned in the research paper, Cobbe said.

Persons: OpenAI, Bard, James Webb, ChatGPT, they're, Karl Cobbe, Cobbe, Ben Winters, it's, Winters, Suresh Venkatasubramanian, Venkatasubramanian, … It's, Sarah Myers West, hasn't Organizations: Microsoft, James Webb Space, New, CNBC, Privacy, Center, Brown University Locations: OpenAI, New York

The European Union is at the forefront of drafting new AI rules that could set the global benchmark to address privacy and safety concerns that have arisen with the rapid advances in the generative AI technology behind OpenAI's ChatGPT. "If it's about protecting personal data, they apply data protection laws, if it's a threat to safety of people, there are regulations that have not been specifically defined for AI, but they are still applicable." Data protection authorities in France and Spain also launched in April probes into OpenAI's compliance with privacy laws. 'THINKING CREATIVELY'French data regulator CNIL has started "thinking creatively" about how existing laws might apply to AI, according to Bertrand Pailhes, its technology lead. "We are looking at the full range of effects, although our focus remains on data protection and privacy," he told Reuters.

☆ You're right to be scared of A.I., says Ivy League expert and White House advisor—these 5 guardrails can protect 'against harm'
▼ + stars: | 2023-05-06 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +1 min

On Monday, researcher Geoffrey Hinton, known as "The Godfather of AI," said he'd left his post at Google, citing concerns over potential threats from AI development. Google CEO Sundar Pichai talked last month about AI's "black box" problem, where even its developers don't always understand how the technology actually works. Among the other concerns: AI systems, left unchecked, can spread disinformation, allow companies to hoard users personal data without their knowledge, exhibit discriminatory bias or cede countless human jobs to machines. In the "Blueprint for an AI Bill of Rights," Venkatasubramanian helped lay out proposals for "ethical guardrails" that could safely govern and regulate the AI industry. With them in place, most people would barely notice the difference while using AI systems, he says.

☆ Credit Suisse expects Yen to strength later in the year as Bank of Japan lifts yield curve control
▼ + stars: | 2023-04-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCredit Suisse expects Yen to strength later in the year as Bank of Japan lifts yield curve controlSuresh Tantia of Credit Suisse explains why tweaks to the Bank of Japan's Yield Curve Control policy would be negative for Japanese equities. He offers alternative areas of opportunities that investors should be looking into.

☆ Insiders were stepping up and buying this week at these regional banks and niche financials
▼ + stars: | 2023-03-17 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

The banking crisis drove regional bank stocks sharply lower this week, but many insiders took advantage of the turmoil to scoop up shares of their own institutions in what may prove a vote of confidence. Shares of regional banks slumped as the collapse of Silicon Valley Bank left investors worried that other regional banks might face similar balance sheet issues, a possible mismatch between long-dated assets and short-dated liabilities. Regional banks had regained some ground Thursday in anticipation of a group of 11 banks stepping in to First Republic by depositing $30 billion for at least 120 days . Charles Schwab Notably, Charles Schwab CEO Walt Bettinger bought 50,000 shares Tuesday, worth nearly $3 million, for his personal account. Valley National Bancorp Ira Robbins (CEO) bought 5,000 shares Wednesday Jennifer Steans (Director) bought 150,000 shares Tuesday Eric Edelstein (Director) bought 20,000 shares Tuesday Melissa Schultz (Director) bought 15,000 shares Tuesday Jeffrey Wilks (Director) bought 8,000 shares Tuesday Marc Lenner (Director) bought 5,000 shares Tuesday Suresh Sani (Director) bought 5,000 shares Tuesday Valley National Bancorp saw a rush of insider buying this week, including purchases by its CEO and several directors.

☆ Walmart is cracking down on its remote tech work, closing 3 offices, and forcing hundreds to choose whether to relocate or leave
▼ + stars: | 2023-02-14 | by ( Ben Tobin | ) www.businessinsider.com time to read: +3 min

Walmart is closing three tech hubs in the US, a company spokesman confirmed to Insider. The tech hubs are located in Carlsbad, California; Portland, Oregon; and Austin, Texas. Workers at those hubs will either have to relocate to a different hub or leave the company entirely. Walmart currently has 16 tech hubs that span across the globe, according to the company's website. Are you a Walmart employee who works in one of the three tech hubs that are set to close?

☆ Walmart to Close Three Tech Hubs, Tells Tech Staff to Return to Offices
▼ + stars: | 2023-02-13 | by ( Sarah Nassauer | ) www.wsj.com time to read: 1 min

Walmart Inc. plans to close three of its U.S. technology hubs and require hundreds of workers to relocate to keep their jobs, according to a memo reviewed by The Wall Street Journal. The retailer will also begin to require all its technology workers to come into the office at least two days a week. The retail behemoth will close offices that house technology staff in Austin, Texas; Carlsbad, Calif.; and Portland, Ore., according to a memo to staff last week from Suresh Kumar , Walmart’s global chief technology officer.

☆ Walmart to close three tech hubs - WSJ
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +1 min

Feb 13 (Reuters) - Walmart Inc (WMT.N) plans to close three of its U.S. technology hubs and has asked hundreds of workers to relocate to keep their jobs, the Wall Street Journal reported on Monday citing an internal memo. The big-box retailer will close offices that house technology staff in Austin, Texas; Carlsbad, California; and Portland, Oregon, the report said, citing the memo from technology chief Suresh Kumar. The WSJ report added Walmart will pay for workers in the locations to transfer to other primary offices such as San Bruno, California, or the company's headquarters in Bentonville, Arkansas. Walmart did not immediately respond to a Reuters request for comment. Reporting by Granth Vanaik in Bengaluru; Editing by Krishna Chandra Eluri and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Walmart to close three U.S. tech hubs, relocate staff
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

Feb 13 (Reuters) - Walmart Inc (WMT.N) will close three of its U.S. technology hubs, asking hundreds of workers to relocate to keep their jobs, a company spokesperson told Reuters on Monday. Nearly all technology employees across the company would be expected to work in their offices for at least two days a week, added Robert Munroe, Walmart's director of global communications. The big-box retailer would close offices that housed technology staff in Austin, Texas, in Carlsbad, California and in Portland, Oregon, Munroe said. The operations would move to hubs including one in San Bruno, California or the company's headquarters in Bentonville, Arkansas, he said, citing a memo sent last week by Walmart's global technology head, Suresh Kumar. The company currently has 11 tech hubs in the U.S. and six abroad, according to its website.

More than 40 million egg-laying hens have been culled in the U.S. alone, causing the price of eggs nationwide to skyrocket, Lorenzoni said. Months earlier, the “bird flu” outbreak drove the cost of turkey meat to record highs. Poultry can become infected through direct exposure to wild birds but more likely from fecal matter that contaminates the ground around farms or yards. Many migrating birds are not sickened by bird flu, which means it’s not well understood just how widespread it is in the wild, Lorenzoni added. The sun can, for instance, naturally disinfect surfaces while gloomier days help viral particles survive on surfaces contaminated by infected bird poop, Lorenzoni said.

☆ Walmart strikes a deal with Salesforce to sell more of its tech to other retailers
▼ + stars: | 2023-01-12 | by ( Melissa Repko | ) www.cnbc.com time to read: +5 min

Walmart Global Chief Technology Officer Suresh Kumar said the deal with Salesforce will help Walmart improve the experience for shoppers. For instance, as Walmart's GoLocal has more packages to deliver from more retailers, its drivers will have denser routes, he said. It began selling Store Assist, technology that its own store employees use, in the summer. In November, Walmart Chief Financial Officer John David Rainey said Walmart added more than 8,000 sellers to its third-party marketplace in the fiscal third quarter. Walmart will stand out in its app store as a technology by retailers and for retailers, he added.

☆ Stocks, bonds fall as BOJ's surprise policy shift spooks investors
▼ + stars: | 2022-12-20 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

The Bank of Japan (BOJ) widened the allowable band for long-term yields to 50 basis points either side of its 0% target, from 25 basis points previously. European stock markets hit six-week lows, with the German (.GDAXI) and French benchmark indices (.FCHI) falling by as much as 1%, while London's FTSE 100 (.FTSE) lost as much as 0.8%. Japanese 10-year government bond yields surged to their highest since 2014, with euro zone yields following suit. The policy decision caused an immediate spike in the yen with the dollar index dropping 0.80% to 103.95, a six-month low. Credit Suisse on Monday upgraded its outlook from neutral to outperform for China's stock markets in the year ahead.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.3%, after U.S. stocks ended the previous session with gains. Australian shares (.AXJO) were up 0.7%, with most gains coming from mining and resources giants as a result of higher oil prices. Case numbers in Beijing and Shanghai are steadily rising, prompting authorities to close some facilities. "The biggest story for investors in Asia is still the China reopening," said Suresh Tantia, Credit Suisse's senior investment strategist in Singapore. While the FTX exchange collapse continues to roil cryptocurrency markets, Bitcoin was 0.33% higher in Asian trading hours to $16,184.

☆ Nestle India's profit tops estimates on price hikes, demand rebound
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Oct 19 (Reuters) - Nestle India (NEST.NS) reported a bigger-than-expected rise in third-quarter profit on Wednesday, benefiting from price increases and a rebound in demand for its chocolates and packaged foods in rural areas. The Maggi noodles maker's profit rose 8.3% to 6.68 billion Indian rupees ($81.1 million) in the quarter ended Sept. 30. Analysts on average were expecting a profit of 6.57 billion rupees, according to IBES data from Refinitiv. "Growth has been very strong in the large metros and mega cities and continued to be robust across smaller town classes, including rural markets," Nestle India Managing Director Suresh Narayanan said in a statement. However, analysts says that certain categories, including noodles and biscuits, defied the trend as people consider such items small treats during economic downturns, adding to Nestle's resilient urban sales momentum.

☆ India's massive card security deadline unlikely to be extended
▼ + stars: | 2022-09-28 | by ( Nupur Anand | ) www.reuters.com time to read: +3 min

MUMBAI, Sept 28 (Reuters) - India's central bank is unlikely to extend a Friday deadline for businesses to set up an additional layer of security for consumers' credit card data even after some concerns remain over payments failing and revenue losses, say bankers and merchants. The Reserve Bank of India (RBI) did not respond to an email request for comment. Three years ago, India embarked on a mammoth exercise to secure card data by requiring businesses to tokenise cards by Sept. 30. Merchant associations have also reached out to the central bank to see if they can be given more time. Fraud concerning card or internet transactions have been on a rise and made up 34.6% of total number of fraud cases in FY21, according to central bank data.

☆ For China, economic recovery remains 'elusive,' says Credit Suisse
▼ + stars: | 2022-09-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFor China, economic recovery remains 'elusive,' says Credit SuisseSuresh Tantia of the investment bank says it has "turned neutral" on China stocks as it expects economic recovery to be delayed in light of the country's zero-Covid policy and weak real estate market.

REUTERS/Anindito Mukherjee/FilesMUMBAI, Sept 23 (Reuters) - Indian banks may be forced to compete harder to boost deposits amid tightening liquidity and rising credit demand ahead of the festive season, analysts warned. "We think the real challenge is the gap between deposit growth and loan growth, as deposit growth is weak, at 9.5% YoY – a good 600 bps below loan growth," said Suresh Ganapathy, head of financials research at Macquarie. "Borrowing from the market to fund credit growth is just one of the ways and after a while it isn't sustainable. Rates for bulk deposits, or deposits of over 20 million rupees, are rising more rapidly than retail, highlighting banks' focus on raising more funds quicker. The incremental credit deposit ratio has already crossed 100%, suggesting that banks have started lending more than the total deposits they hold.

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