AI startup Nomic has raised $17 million in a new funding round from investors led by Coatue, the companies told Reuters. The investment valued New York-based Nomic AI, a team of four at the time, at $100 million, showing continued interest from VCs to bet on small teams building popular AI products. Contrary Capital and […]
U.S. online sales during Amazon.com’s Prime Day shopping event rose 6.1% to $12.7 billion from last year, as inflation-hit Americans hunted for more bargains and discounts on the e-commerce platform, Adobe Analytics data on Thursday showed. Shoppers spent $6.3 billion on the second day of the shopping extravaganza. Deep discounts on products such as toys and appliances drew […]
Global finance chiefs will meet in India next week to discuss increasing loans to developing nations from multilateral institutions, reforming the international debt architecture and regulations on cryptocurrency, Indian officials said. The finance ministers and central bank governors from the Group of 20 (G20) nations will also discuss a multilateral agreement on taxing conglomerates with […]
Tesla is discussing an investment proposal with the Indian government to set up a factory with an annual capacity to produce about half a million electric vehicles, the Times of India reported on Thursday, citing government sources. The company, led by billionaire Elon Musk, is also looking at using India as an export base to ship […]
Southern Europe sweltered under a fierce heatwave on Thursday, with a warning that temperatures could hit record highs for the continent next week, raising fears about the impact on human health, crops and animals. Weather alerts were in place across Spain’s Canary Islands, Italy, Cyprus and Greece, with the Greek authorities expecting temperatures to reach […]
OPEC on Thursday raised its forecast for oil demand growth for 2023 and predicted only a slight slowdown in 2024 despite economic headwinds as China and India continue to drive the expansion in fuel use. In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) said it expects world oil demand to rise […]
– Saudi Arabia imported record volumes of discounted Russian fuel oil in June, a near 10-fold annual increase to meet summer power generation demand and maintain crude exports despite OPEC+ production cuts, according to traders, analysts and Kpler data. For Russia, its growing oil trade with the world’s biggest exporter enables it to keep output […]
India’s Gujarat state is holding talks with Foxconn over a semiconductor plant, a top government official told Reuters, days after the Taiwanese giant broke off a $19.5 billion joint-venture plan with India’s Vedanta. “We are in touch with multiple prospective investors, including Foxconn … Gujarat is uniquely positioned to attract top chipmakers,” said Vijay Nehra, […]
India’s Vedanta will enter the market for the manufacturing of chips and displays this year, group chairman Anil Agarwal said on Wednesday, days after its joint-venture partner Foxconn pulled out of the $19.5 billion chipmaking project. Foxconn separately intends to apply for incentives under India’s semiconductor production plan. In an address to the shareholders, Agarwal said Vedanta will […]
The world’s major accounting firms are stepping up investments in new Indian facilities away from bigger cities as global demand for cheaper back office operations grows and smaller towns move up the economic value chain. For decades, large multinational corporations have rushed to India’s biggest metropolises, chiefly Mumbai, Delhi and Bengaluru, to set up massive […]
