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☆ Women, children trek miles in summer heat to get water near Mumbai
▼ + stars: | 2023-05-18 | by ( Francis Mascarenhas | ) www.reuters.com time to read: +3 min

"All the water is sent to Mumbai, we are left with nothing," said Ashok Shinde, whose village is home to about 700 people rearing poultry and livestock. The Vaitarna dam, which supplies water to Mumbai, is just 50 km (31 miles) from Telamwadi, but is not linked to it. [1/5] Women walk back home balancing pots of water on their head as other women walk towards a well to fill their pots in Telamwadi, near Mumbai, India, May 17, 2023. "Until the permanent solution is in place, we are providing water tankers to ensure residents do not face issues," state water supply officials told Reuters. One of the women usually makes the precarious journey, relying on numerous cracks in the walls to provide support.

Here’s what we know so far about those killed in the Texas shooting:The Cho familyCho Kyu Song, 37 (husband) and Kang Shin Young, 35 (wife) are shown in an undated photo. William, who just celebrated his birthday, lost his mother, father and younger brother in the shooting, according to the post. Daniela and Sofia MendozaSisters Daniela and Sofia Mendoza were both elementary school students in the Wylie Independent School District, according to a letter sent to parents by the district. “Words cannot express the sadness we feel as we grieve the loss of our students,” the letter reads. “Please hold the Mendoza family close to your heart.

May 3 (Reuters) - Goldman Sachs Group Inc (GS.N) has named Kim Posnett as the head of its global technology, media and telecommunications (TMT) investment banking group, according to an internal company memo. Posnett, who is currently the co-head of the One Goldman Sachs initiative at the bank, will continue to hold her existing responsibilities. The One Goldman Sachs initiative aims to integrate the bank's dealings with clients across teams. Posnett, who has also served as the global head of investment banking services at Goldman, is one of the few executives who spoke at the bank's investor day in February alongside its chief executive and finance head. In a separate memo sent out by Goldman's heads of global banking & markets, Ashok Varadhan, Dan Dees and Jim Esposito, Goldman also named Aasem Khalil as the new global head of its Investment Banking Services division.

☆ Goldman Sachs is making a slew of leadership changes in its investment bank. See the key moves here.
▼ + stars: | 2023-05-03 | by ( Carter Johnson | ) www.businessinsider.com time to read: +3 min

Goldman has internally announced a slew of leadership changes in its investment bank. Goldman's Aasem Khalil will take on Posnett's role as global head of investment banking services. A fresh face will now lead one of Wall Street's most powerful investment banking groups. She ultimately served as co-COO of TMT and head of Internet investment banking before being appointed head of investment banking services. Succeeding Posnett as head of global investment banking services is Aasem Khalil, a Goldman partner and 26-year veteran of the Wall Street bank.

[1/2] A Tesla Model 3 vehicle drives on autopilot along the 405 highway in Westminster, California, U.S., March 16, 2022. It said in a court filing that Hsu used Autopilot on city streets, despite Tesla's user manual warning against doing so. The main question in Autopilot cases is who is responsible for an accident while a car was in driver-assistant Autopilot mode - a human driver, the machine, or both? That executive, Ashok Elluswamy, director of Autopilot software at Tesla, testified during the Hsu trial last week about the videotape. Also at issue in the Hsu trial is the airbag.

Based on traditional and long-abandoned fixed policy models, Cleveland Fed researchers reckon policy is already more aggressive than any of those rules suggest. The political and policy appetite for zero interest rates or quantitative easing - which seemed to chase estimates of R-star ever lower over the past decade - is gone. At the same time, real yields above 4% have proven unsustainable historically. Bhatia feels real yields somewhere in the middle is where markets will settle. Given the economy-wide accumulation of debt over recent years, real 10-year yields in a 1.5%-2.0% range probably works.

☆ Factbox: Tesla investor day gives a rare look at executive bench
▼ + stars: | 2023-03-02 | by ( Hyunjoo Jin | ) www.reuters.com time to read: +4 min

LARS MORAVY, VICE PRESIDENT, VEHICLE ENGINEERINGThe former Honda (7267.T) engineer joined Tesla in 2010. PETE BANNON, VICE PRESIDENT, HARDWARE ENGINEERINGThe former Apple engineer leads a team that creates the Full Self-Driving hardware. He has served as senior vice president for powertrain and energy engineering since October 2019. FRANZ VON HOLZHAUSEN, SENIOR DESIGN EXECUTIVEThe former director of design for Mazda North America joined Tesla in 2008. LAURIE SHELBY, VICE PRESIDENT, EHS&S (Environmental, Health, Safety, and Security)Shelby joined Tesla in 2017.

☆ Adani's fall reignites scrutiny of billionaire's close ties with Modi
▼ + stars: | 2023-02-16 | by ( Sumathi Bala | ) www.cnbc.com time to read: +7 min

Ashok Swain Uppsala UniversityHindenburg's report has further sharpened the focus on the billionaire mogul's close ties with Modi. After Modi became prime minister, Adani continued to benefit from the relationship but on a much larger scale, said Swain. In his address to parliament last week, the prime minister seemed unfazed by the opposition's criticism and made no mention of Adani. "And you can never breach this safety shield with the weapons of abuse and lies," he said, as opposition lawmakers chanted "Adani, Adani." "Prime Minister Modi and I are from the same state.

☆ Business Technology Chiefs Question ChatGPT’s Readiness for the Enterprise
▼ + stars: | 2023-02-15 | by ( Angus Loten | Chris Bedi | ) www.wsj.com time to read: +7 min

Yet some business-technology professionals are uneasy about integrating it into the enterprise stack, citing concerns over its use of online data and security risks. But at the moment, ChatGPT “should be used with caution in an enterprise business setting,” she said. Newsletter Sign-up WSJ | CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. For now, Mr. Schmidt said, generative AI capabilities should be reserved for writing corporate boilerplate—product or service announcements, or other promotional materials. For enterprise information-technology, “ChatGPT use cases might be a smaller universe than people are imagining,” he said.

☆ Uncertain Economy Spurs Growth in AI-Powered Office Automation
▼ + stars: | 2023-02-02 | by ( Angus Loten | ) www.wsj.com time to read: +6 min

Corporate technology leaders are leaning on artificial intelligence and other software automation tools to help companies grow without hiring additional workers anytime soon. Diogo Rau, chief information and digital officer at Eli Lilly. The reports are often filled with scientific terms that require professionals to decipher, Mr. Rau said. Similarly, Mr. Rau is applying natural-language models to produce in-house clinical reports, replacing on-staff medical writers. All told, Gartner expects global enterprise spending on AI and other software automation systems this year to reach $728.9 billion, up from $643.3 billion in 2022.

☆ Indian shares set to fall after Adani group calls off $2.5 bln share sale
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 2 (Reuters) - Indian shares are set to open lower on Thursday after a sustained selloff in Adani group stocks as the group cancelled the secondary share sale of its flagship company Adani Enterprises. India's market regulator is said to be examining the crash in the Adani group company shares and looking into possible irregularities in Adani Enterprises' secondary share sale. Indian markets closed lower on Wednesday, hit by Adani group stocks and a fall in insurance companies after the union budget proposed to limit tax exemptions for insurance proceeds. STOCKS TO WATCHBritannia Industries (BRIT.NS): Co posts rise in consolidated net profit in the third quarter on price hikes, sustained demand. Alembic Pharma (ALEM.NS): Co reports consolidated net profit that beat estimates in Q3, on higher domestic sales.

☆ Tesla faked a 2016 video promoting its self-driving technology, according to a senior company engineer's deposition testimony
▼ + stars: | 2023-01-18 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Tesla staged a video showing its self-driving capability, according to a company engineer's testimony. Tesla's director of Autopilot software, Ashok Elluswamy, revealed the information in a deposition in July 2022. Tesla has come under increasing scrutiny recently for its self-driving technology. Musk, however, posted that video on Twitter in 2016 as evidence that Tesla could drive itself. In footage that didn't make it into the final video, according to TechCrunch, the test car crashed into a fence in Tesla's parking lot, Elluswamy said in his deposition, according to Reuters.

☆ Watch two moments from a 2016 Tesla self-driving ad that are totally staged, according to a senior engineer
▼ + stars: | 2023-01-18 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +3 min

A senior Tesla engineer testified in a deposition that the company staged a 2016 self-driving ad. In Tesla's self-driving ad from 2016, the car is able to stop at a red light. In the self-driving video, the Tesla is able to accelerate forward when the traffic light turns green. Tesla's Autopilot system is an "advanced driver assistance system" that "reduces your overall workload as a driver," according to the company website. The electric carmaker's autopilot system has come under scrutiny from regulators and customers.

☆ A Tesla crashed into a fence during filming for the company's self-driving ad, Autopilot director testified
▼ + stars: | 2023-01-18 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

A Tesla engineer said a car crashed into a fence while filming a video promoting self-driving, Reuters reported. Elon Musk promoted the 2016 video as an example of a Tesla "driving itself" at the time. The engineer said that the car crashed into the fence while trying to park itself. In 2016, the electric-car maker announced its Full Self-Driving (FSD) software as an enhancement to Autopilot using the video "Full Self-Driving Hardware on All Teslas" to promote its capabilities. The National Highway Traffic Safety Administration is investigating Autopilot and its potential connection to several accidents.

☆ Tesla video promoting self-driving was staged, engineer testifies
▼ + stars: | 2023-01-17 | by ( Hyunjoo Jin | ) www.reuters.com time to read: +4 min

The previously unreported testimony by Elluswamy represents the first time a Tesla employee has confirmed and detailed how the video was produced. The car is driving itself.”Elluswamy said Tesla’s Autopilot team set out to engineer and record a “demonstration of the system’s capabilities” at the request of Musk. It was to portray what was possible to build into the system,” Elluswamy said, according to a transcript of his testimony seen by Reuters. When asked if the 2016 video showed the performance of the Tesla Autopilot system available in a production car at the time, Elluswamy said, "It does not." Elluswamy said drivers could “fool the system,” making a Tesla system believe that they were paying attention based on feedback from the steering wheel when they were not.

☆ Analysis: Bond traders get their swagger back in rate-obsessed markets
▼ + stars: | 2023-01-17 | by ( Lananh Nguyen | ) www.reuters.com time to read: +5 min

REUTERS/Andrew KellyNEW YORK, Jan 17 (Reuters) - Bond traders are stars again on Wall Street. Fixed income, currencies and commodities (FICC) traders bolstered bank profits last year despite dreary deal markets. Bond specialists in the $22 trillion Treasuries market are in high demand as the Federal Reserve and other central banks have aggressively raised interest rates over the past two years. After the financial crisis, central bankers in the United States and advanced economies steadied markets by holding interest rates near zero. On Tradeweb Markets Inc's (TW.O) electronic bond trading platforms, average daily volumes rose almost 10% in 2022.

☆ India's Adani partners with Leyland, Ballard to make hydrogen fueled electric truck
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

The project led by Adani, will have Ballard supply the fuel cell engine, while Indian truck maker Ashok Leyland will provide vehicle and technical support for the project. If the devices that do that, electrolysers, are powered by renewable energy, the product is called green hydrogen. The Indian government had recently approved an incentive plan of 174.9 billion rupees ($2.11 billion) to promote green hydrogen and had set green hydrogen consumption targets for some industries earlier this month. Indian companies such as Reliance Industries (RELI.NS), Indian Oil (IOC.NS), NTPC (NTPC.NS), Adani, JSW Energy (JSWE.NS), ReNew Power (RENE.BO) and Acme Solar (ACMO.NS) have big plans for green hydrogen. Adani has a tie-up with French energy company TotalEnergies (TTEF.PA) as part of a deal to form a new green hydrogen project in India.

☆ India's utility vehicles sales rise in Dec, demand for entry-level cars muted
▼ + stars: | 2023-01-02 | by ( Nandan Mandayam | ) www.reuters.com time to read: +2 min

BENGALURU, Jan 2 (Reuters) - India's top automakers in December reported a double-digit rise in the sale of the more expensive utility vehicles, while entry-level cars saw muted demand despite discounts. Auto sales numbers are keenly watched as they are among the key indicators for assessing private consumption, which has more than 50% weightage in calculating the country's economic growth. Utility vehicles (UV), among the fastest-growing segments, saw a 22.3% rise in sales at Maruti Suzuki India (MRTI.NS) and 62.2% at Mahindra and Mahindra (MAHM.NS). Hero MotoCorp (HROM.NS), the world's largest bikemaker, reported a marginal fall in sales, while Bajaj Auto's (BAJA.NS) two-wheeler sales dropped 22%. The commercial vehicles (CV) segment reported a double-digit growth for December, with sales at industry leaders Eicher Motors (EICH.NS) and Ashok Leyland (ASOK.NS) rising 17.3% and 44.9%, respectively.

☆ CIOs Nominate Their Favorite Reads of 2022
▼ + stars: | 2022-12-28 | by ( Tom Loftus | ) www.wsj.com time to read: +9 min

Chief information officers, ever alert to any development in a field that only hurtles forward, largely reflected that alacrity in their choice of reading during 2022. PREVIEWChris Bedi, chief digital information officer, ServiceNow Inc. Photo: IBM Corp.Ron Guerrier, chief information officer, HP Inc. Photo: Cisco Systems Inc.Fletcher Previn, chief information officer, Cisco Systems Inc. Photo: Home Depot Inc.Fahim Siddiqui, chief information officer, Home Depot Inc.

☆ India's e-bus ambition hits financing speed bump
▼ + stars: | 2022-12-17 | by ( Sarita Chaganti Singh | ) www.reuters.com time to read: +3 min

Mahesh Babu, chief executive of e-bus maker Switch Mobility, said that "most of the contracts related to STUs are seen by banks as high risk" and called for payment security for bus makers. Financing diesel buses is safer because in the case of any default, banks can repossess the asset and easily redeploy it. A Tata Motors spokesperson said there was a need for "adequate safeguards with appropriate payment security mechanisms" to make such ventures bankable. A federal government official, on the condition of anonymity, said they would consider the demands of the industry. The Ministry of Heavy Industries, which is promoting the use of e-buses, did not immediately respond to a email seeking comment.

Fawaz Ould Ahmed was taken into custody by the United States and brought to New York on Friday, the Justice Department said in a statement. Ahmed received a death penalty in Mali after pleading guilty to planning and executing the deadly attacks targeting Westerners. The Justice Department said a total of 38 people had died in the three incidents. "The defendant's alleged actions — inhumanely plotting and carrying out ruthless terrorist attacks — were not forgotten and will not be forgiven," said FBI assistant director-in-charge Michael Driscoll. Ahmed told the Malian court that he did not regret the attacks and that he had been seeking revenge for cartoons of the Prophet Mohammad printed in Charlie Hebdo.

☆ Flags at half-mast as India's Gujarat mourns deadly bridge collapse
▼ + stars: | 2022-11-02 | by ( Shivam Patel | ) www.reuters.com time to read: +2 min

[1/2] A man sits at the site of a damaged suspension bridge after it collapsed on Sunday, in Morbi town in the western state of Gujarat, India, November 1, 2022. Rescue workers would continue their search for any unaccounted persons for a fourth day, a government control room said, though local officials said on Tuesday that only one person was believed to be missing still. Gujarat Chief Minister Bhupendra Patel has appealed to people in his state to pray for the departed souls and their families. A senior police official told Reuters this week that about 200 people were on the bridge when it collapsed. Local municipality officials said tickets for about 400 people had been sold, although not necessarily to be on the bridge at the same time.

☆ Nine arrested after bridge collapses in India, killing 134
▼ + stars: | 2022-11-01 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

MORBI, India — Police in western India arrested nine people on Monday as they investigated the collapse of a newly repaired 143-year-old suspension bridge in one of the country’s worst accidents in years, officials said. The collapse Sunday evening in Gujarat state plunged hundreds of people into a river, killing at least 134. The same month, Oreva closed the bridge, which spans a wide section of the Machchu river, for repairs. Modi was the top elected official of Gujarat for 12 years before becoming India’s prime minister in 2014. A Gujarat state government election is expected in coming months and opposition parties have demanded a thorough investigation of the accident.

☆ Guards on India bridge struggled to control crowd before collapse, witnesses say
▼ + stars: | 2022-11-01 | by ( Shivam Patel | ) www.reuters.com time to read: +4 min

Local officials said about 400 tickets had been sold, although not necessarily to be on the bridge at the same time. "Then the bridge collapsed in front of our eyes," the 32-year-old construction worker said. The witnesses did not know whether the security guards had survived. Those arrested included ticketing clerks and three security guards who were on duty when the bridge collapsed, senior police official Ashok Kumar Yadav said. Reuters could not confirm whether the two guards who witnesses reported seeing at the bridge were among the three arrested.

CNN —More than 50 children are among 135 people killed in Sunday’s bridge collapse in India’s Gujarat state, according to a list of victims published by state authorities on Wednesday. Rescue workers conduct search operations after a bridge across the river Machchhu collapsed at Morbi in India's Gujarat state on October 31, 2022. A shoe lies near a damaged suspension bridge in Morbi, India, November 1, 2022. Mourners take part in a funeral procession while carrying the coffins of victims who died after a bridge across the river Machchhu collapsed at Morbi in India's Gujarat state on October 31, 2022. Indian Prime Minister Narendra Modi visited the site of the deadly bridge collapse in western India on Tuesday.

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