Big tech companies are getting ready to spend more than $200 billion this year on artificial intelligence. Firms like Amazon, Microsoft, Meta, and Alphabet are ramping up their investments, showing they believe AI will be profitable in the long run, despite earlier concerns from Wall Street.
India will need about 10 million new jobs every year from FY25 to FY30 to keep a growth rate of 6.5%, according to a Goldman Sachs report. Key strategies include promoting affordable housing, creating IT hubs in smaller cities, and focusing on labour-intensive manufacturing.
Nvidia will take Intel's place on the Dow Jones Industrial Average, marking a big change in the semiconductor world. This shift ends Intel's 25-year run on the index and shows how it's struggling in the market as competition grows and it misses chances in the AI field.
A. O. Smith Corporation has bought Pureit, a water purification brand that was owned by HUL, for ₹601 crore ($72 million). This deal is not expected to affect earnings much in the first year. The acquisition aims to boost A. O. Smith's premium products and improve its online sales.
Amy Landino, a college dropout, now makes over Rs 15 lakh a month from passive income through social media and video creation. After leaving college with $50,000 in debt, she found her passion for creating content, started a successful business, and wrote books, which helped boost her earnings.
Deloitte is cutting jobs due to falling demand for its services, but it hasn't said how many employees will be affected. The company's revenue in Australia dropped 2.4% to $2.78 billion, showing difficulties in the consulting sector. This move is part of a larger trend of job cuts at major consulting firms like KPMG, EY, and PwC.
Japan's two-year government bond yield reached a 16-year high on Friday as expectations grew for an interest rate hike from the Bank of Japan. The yield rose to 0.47% after the central bank's chief hinted at a possible policy change as soon as December.
TCS has landed a 15-year contract with Ireland's Department of Social Protection to set up an Auto Enrolment Retirement Savings Scheme, helping 800,000 workers. This project will create a digital platform for automatically enrolling and managing pensions.
Indian companies are cutting back on salary spending, which could affect spending in cities. A report from Nomura shows that real wage growth has slowed a lot. Factors like stricter monetary policies and a drop in demand after the pandemic are playing a role, raising concerns about India's economic future.
HCLTech's Global Cyber Resilience Study 2024-25 shows that 81% of security leaders expect cyberattacks in the coming year. However, only 48% are sure they can prevent them. The study points out that attacks using AI are a major concern, with North America having the highest rates of attacks. Many leaders plan to invest more in cybersecurity, but there are still big gaps in skills and issues with recovering after attacks.