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<ul><li>Apple has launched the iPad mini (2024) in India.</li><li>The iPad Mini is available is priced starting at ₹49,900 and is priced starting at ₹49,900.</li><li>Here’s everything you need to know about the latest offering from Apple.</li></ul> Cupertino tech giant Apple today launched the iPad mini, the company’s latest version of its compact iPad globally on Tuesday. This is the first update to the iPad mini lineup since 2021. The latest iPad mini is powered by the company’s A17 Pro chipset, which powered the iPhone 15 Pro models. The iPad mini (2024) will also support Apple Intelligence as they are rolled out by Apple. The company has finally increased the storage of the base variant from 64GB on the outgoing model to 128GB. <h2>Apple iPad mini price in India</h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wi-Fi </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wi-Fi + Cellular </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">128GB </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹49,900 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">128GB </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹64,900 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">256GB </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹59,900 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">256GB </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹74,900 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">512GB </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹79,900 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">512GB </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹94,900 </td></tr></tbody></table> The iPad mini comes in Blue and Purple, Space Grey and Starlight colour options. It is available from the Apple Online Store, Apple Store and Apple Authorised Resellers in the country. <div type="Article" hostid="261" msid="113204340" title="iPhone 16 Pro and iPhone 16 Pro Max with bigger displays, A18 Pro chipset launched starting at ₹1,19,900" mstype="2" mssubtype="0"></div> The Apple Pencil Pro is priced at ₹11,900 and the Apple Pencil (USB-C) is priced at ₹7,900. The new Smart Folio, which comes in Charcoal Grey, Light Violet, Denim and Sage colour options is priced at ₹6,500. Apple iPad mini features The seventh-gen iPad mini retains the same 8.3-inch Liquid Retina display with a resolution of 2266 x 1488 pixels and 500 nits brightness. It supports the Apple Pencil Pro which was launched earlier this year. The iPad mini is powered by the A17 Pro chipset, which comes with a 6-core CPU that offers 30% improved performance over its predecessor and a 5-core GPU that offers 25% improved performance. It comes in three storage variants – 128GB, 256GB and 512GB. <div type="Article" hostid="261" msid="113203568" title="iPhone 16, iPhone 16 Plus with A18 chipset launched starting at ₹79,900" mstype="2" mssubtype="0"></div> The chipset brings ray tracing, Dynamic Caching and hardware-accelerated mesh shading, enabling an enhanced gaming experience. The iPad mini features a 12MP wide-angle camera at the back, with f/1.8 aperture, Smart HDR 4 support, and autofocus. On the front, the device features a 12MP ultra-wide-angle camera with f/2.4 aperture, Smart HDR 4 and Centre Stage support. The device comes with stereo speakers and dual microphones for calls. It also comes with TouchID support for authentication. The iPad Mini features a USB 3.0 Type-C port with DisplayPort. <div type="Article" hostid="261" msid="113220789" title="iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper" mstype="2" mssubtype="0"></div> The device is powered by a 19.3-watt-hour lithium-polymer battery that is claimed to offer up to 10 hours of usage. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-record-4-growth-in-q3-2024-samsung-leads-the-market/articleshow/114241402.cms">Global smartphone shipments record 4% growth in Q3 2024, Samsung leads the market</a> <a href="https://www.businessinsider.in/business/auto/news/hyundai-ipo-review-everything-you-need-to-know-about-indias-biggest-ipo/articleshow/114203740.cms">Hyundai IPO review – Everything you need to know about India’s biggest IPO</a> <a href="https://www.businessinsider.in/business/auto/news/the-ola-electric-saga-are-surge-in-complaints-and-declining-market-share-a-wake-up-call-for-bhavish-aggarwal/articleshow/114120828.cms">The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?</a>

Apple iPad mini with A17 Pro chip launched starting at ₹49,900

Hyundai Motors India's IPO worth Rs 27,870 crore, the largest India has ever seen, got off to an unhurried start today, with 18% of the total offer subscribed on the first day. The IPO, which closes on October 17, has already attracted significant attention from retail and institutional investors. The issue was subscribed 0.27x in the retail category, 0.05x in the QIB (qualified institutional buyers) category and 0.13x in the NII (non institutional investors) category. Retail investors placed bids for 1.3 crore shares, as against the 4.94 crore shares which were offered to them. In contrast, Hyundai employees showed strong support for the IPO, bidding for 6,28,509 shares, as against the 7,78,400 shares allocated to them. Just a day before, Hyundai had raised Rs 8,315.3 crore from about 225 anchor investors. The list included several marquee global names, like the Government of Singapore, New World Fund Inc, and the Canada Pension Plan Investment Board. These institutions, along with Fidelity, Government Pension Fund Global, and American Funds Insurance Series New World Fund, invested a combined Rs 2,191.66 crore in the company. Other notable participants in the anchor round included Vanguard, Blackrock, Goldman Sachs and JP Morgan. Hyundai Motor India allocated 4.2 crore equity shares to these anchor investors at Rs 1,960 per share. Also, 34.42% of the entire allocation to anchor investors went to 21 domestic mutual funds via 83 schemes. AMCs (asset management companies) like ICICI, Invesco, Kotak and UTI were part of this round. While the current IPO is entirely OFS (offer for sale), which means that no part of the proceeds will go to Hyundai Motor India, the company has announced that it plans to invest more than Rs 33,000 crore over the next 10 years in India. The country is an important market for the South Korean automobile giant, given that it is the 2nd largest OEM (original equipment manufacturer) in the passenger vehicle space in India. However, the market is already preparing for muted listing day gains, with the company's GMP dropping to Rs 59 today. Hyundai is estimated to list at Rs 2,019 per today's GMP, taking the expected gain/loss per share to a minuscule 3.01%, as per data from IPO site Chittorgarh.

India's biggest IPO off to a slow start, subscribed 0.18x on Day 1

Reliance Industries Ltd (RIL), one of India’s largest and most valuable company, saw its shares dip more than 1% in early trade on Tuesday following a disappointing quarterly earnings report. The company revealed a 5% drop in net profit for the July-September period, mainly due to a weaker performance in its oil refining and petrochemical divisions, a PTI report said. By mid-morning, Reliance’s stock had slipped 1.15% to Rs 2,713.55 on the Bombay Stock Exchange (BSE), while on the National Stock Exchange (NSE), it fell 1.13% to Rs 2,713.80. The company’s consolidated net profit for the second quarter of the financial year stood at Rs 16,563 crore, or Rs 24.48 per share, down from Rs 17,394 crore (Rs 25.71 per share) during the same period last year. The oil-to-chemical (O2C) division, which includes Reliance’s refining operations in Jamnagar, Gujarat, was particularly impacted by shrinking margins. This decline came as a result of global oversupply, driven largely by China, which has been flooding the market with petroleum products refined from inexpensive Russian crude oil. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) also saw a modest dip, dropping 2% to Rs 43,934 crore. Rising finance costs, up 5% to Rs 6,017 crore, due to increased debt, along with a 2.3% rise in depreciation, further weighed on the company’s bottom line. Despite the struggles in its oil business, Reliance’s other key segments—retail and telecommunications—continued to perform steadily, providing some stability to the company’s overall financial health. As the company navigates the challenges posed by a volatile global energy market, investors are closely watching how Reliance Industries will balance its core O2C operations with the consistent growth of its retail and telecom businesses. (With PTI inputs)

Reliance Industries shares slip by 1% after profit decline in Q2

The Election Commission of India (ECI) has officially announced the schedules for the upcoming Assembly elections in Maharashtra and Jharkhand, setting the stage for crucial state elections next month. Here’s what voters in these states can expect: <h2>Maharashtra: Single-phase voting on November 20</h2>Maharashtra will head to the polls in a single phase on November 20, with vote counting scheduled for November 23. This election will see a high-stakes contest between two major coalitions: the Maha Vikas Aghadi (MVA) and the Maha Yuti Alliance. The MVA consists of Uddhav Thackeray's Shiv Sena (UBT), the Congress, and the Nationalist Congress Party (NCP) under Sharad Pawar. Meanwhile, the Maha Yuti Alliance brings together the Bharatiya Janata Party (BJP), Shiv Sena led by Eknath Shinde, and the Ajit Pawar faction of the NCP. This intense battle for control over the 288-seat Maharashtra Assembly follows the end of the current term on November 26. The model code of conduct has come into immediate effect in Maharashtra, guiding political parties on appropriate campaigning practices and ensuring fair elections. <h2>Jharkhand: Two-phase voting on November 13 and 20</h2>In Jharkhand, voting will occur in two phases: the first on November 13 and the second on November 20. The results will be declared on November 23, alongside Maharashtra’s. This election focuses on the 81-seat Assembly, with a fierce competition expected between the ruling Jharkhand Mukti Morcha (JMM)-Congress alliance and the National Democratic Alliance (NDA), which includes the BJP, All Jharkhand Students Union (AJSU), and Janata Dal (United). Jharkhand’s current Assembly term expires on January 5, 2025. The elections will feature 29,562 polling stations across urban and rural areas to accommodate the state’s 2.6 crore registered voters. This diverse electorate includes 66.84 lakh young voters and 11.84 lakh first-time voters, with special arrangements for 3.67 lakh persons with disabilities. <h2>Pre-election preparations</h2>The ECI’s preparations for the elections began in September, with teams visiting both states to assess readiness. Chief Election Commissioner Rajiv Kumar, alongside Election Commissioners Gyanesh Kumar and Sukhbir Singh Sandhu, met with local officials, district collectors, and political representatives to evaluate logistical arrangements and security measures. In Maharashtra, the Maha Yuti Alliance and the MVA have been ramping up their efforts to secure voter support in what is expected to be a dramatic electoral showdown. In Jharkhand, the ruling JMM, which is part of the INDIA bloc, is eyeing another term despite recent controversies surrounding Chief Minister Hemant Soren, who faced legal challenges earlier this year. The JMM-Congress-RJD alliance remains strong, as the party is expected to contest all 81 seats in the Assembly. (With inputs from agencies)

ECI Announces election schedules for Maharashtra and Jharkhand; both states to vote in November

Tuesday, October 15: A well-marked low has been reigning terror over Chennai since yesterday, with heavy rains pounding the city last night and this morning. The Tamil Nadu capital’s infrastructure is already drowning in rainwater, but forecasts estimate that the worst is yet to come. According to the India Meteorological Department (IMD), the system currently stationed over the Bay of Bengal is expected to intensify in the coming days and develop into a depression within the next 48 to 72 hours. And certain weather models predict the birth to a powerful cyclone that could impact coastal regions, including Chennai. The development of this storm is being fueled by the Madden-Julian Oscillation (MJO), currently in its active phase (phase 4), which is known to enhance convective activity and may cause the system to intensify. Current forecasts suggest that the cyclone will move towards the North Tamil Nadu, Puducherry, and South Andhra Pradesh coasts. Some models, including IMD's Global Forecast System (GFS), predict the system could evolve into a severe cyclonic storm by Wednesday, October 16, and make landfall near Chennai on Thursday, October 17. The state government has declared a holiday for schools and colleges in the city and surrounding districts. <h2>Conflicting predictions on storm intensity </h2>While various forecasting models agree that a storm is forming, they differ on the system's strength and path. According to meteorologists from The Weather Channel, the low-pressure area has been clearly visible over the central-southern Bay of Bengal since Tuesday morning. It is expected to move west-northwestward towards the Andhra Pradesh and Tamil Nadu coasts by Thursday. Most numerical weather models currently project that the system will intensify into a depression but stop short of becoming a full-fledged cyclonic storm. However, IMD GFS stands out by predicting rapid intensification into a severe cyclonic storm, with a possible landfall just south of Chennai on Thursday. Meanwhile, the European model ECMWF — renowned for accurate cyclone forecasting — suggests that the system may remain a low-pressure area as it crosses the coast, with no further intensification. If the storm does reach cyclone status, it will be named "Cyclone Dana," following a proposal by Qatar under the World Meteorological Organisation’s naming guidelines. <h2>Weather warnings for coastal regions </h2>The brewing system is expected to bring widespread heavy rains across Tamil Nadu, Puducherry, Karaikal, and Coastal Andhra Pradesh over the next few days. The IMD has issued a red warning (indicating the need for immediate action) for these areas on October 16, with an orange alert (be prepared) for October 15 and 17. Within Tamil Nadu, districts such as Chennai, Tiruvallur, Kancheepuram, and Nagapattinam are under a red warning, with extremely heavy rainfall expected on October 16. Winds are predicted to reach speeds of 40-50 km/h, with gusts of up to 60 km/h along the coast, prompting the IMD to advise fishermen to stay ashore as sea conditions worsen. Other potential impacts include localised flooding of roads, waterlogging and closure of underpasses, reduction in visibility, disruption of traffic and minor damage to kutcha roads. As the storm nears, coastal residents are urged to stay alert and take necessary precautions to safeguard lives and property.

Severe cyclone threat looms large near Chennai as IMD GFS predict landfall by Thursday!

Dr A. P. J. Abdul Kalam wasn’t just any scientist; he was the driving force behind some of the most critical advancements in India's defense technology, earning him the well-deserved nickname, “Missile Man of India.” But how did a humble son of a boat owner from Tamil Nadu rise to revolutionise India’s missile capabilities? It all began when he joined the Defence Research and Development Organisation (DRDO) and later the Indian Space Research Organisation (ISRO). It was here that Kalam's deep understanding of rocketry and aerospace engineering began to take shape. His work with India’s first satellite launch vehicle, the SLV-III, laid the foundation for his transition into missile development. Kalam's pivotal role in leading the Integrated Guided Missile Development Program (IGMDP) is where he truly made history. This program was responsible for the creation of several of India’s most powerful missiles — some of which are still considered game-changers in the defense world today. Under his leadership, India’s missile defense strategy went from practically nonexistent to highly capable, establishing the country as a force to be reckoned with. <h2>Agni missiles</h2>Among his most notable creations is the Agni series. Considered the big leagues in the world of short to medium range ballistic missiles, the first within its series was developed after the Indo-Pakistan Kargil war. The Agni I, for example, has a range of about 700 to 1,200 kilometers. That’s comparable to firing a missile from Mumbai and hitting targets well into Pakistan. The real kicker? It can carry a 2,500 kg nuclear warhead, what India has affectionately termed a “credible deterrent”. The weight of the warhead directly correlates to the missile's destructive potential. A heavier warhead usually contains more explosive material or larger payloads, which increases its ability to cause widespread damage. This is particularly important for missiles like the Agni series, where the intent is to act as a deterrent. <div type="Article" hostid="261" msid="114227840" title="As a warning, China sent warplanes and warships, including its first aircraft carrier, to practice assaulting Taiwan" mstype="2" mssubtype="0"></div>Building upon the success of the first iteration, the Agni II boasted an even more impressive range of 2,000 to 3,000 kilometers. This nuclear-equipped missile was capable, fast, terrifyingly accurate, and likely helped significantly affect the strategic dynamics of India with neighbouring countries such as China. With a warhead of 1000kg, it was deadly — if needed to be. Both of these missiles are rail and road-mobile, meaning that they can be transported across the country for launch. <h2>Prithvi close-range missiles</h2>But it wasn't just long-range nukes that Kalam worked on. He also turned his attention to tactical, battlefield missiles like the Prithvi series. The Prithvi missiles are somewhat different — they're designed for close-range engagements, acting almost like a heavyweight punch in a tactical fight. The Prithvi I can travel 150 kilometers and is perfect for battlefield dominance, carrying a huge 1,000-kilogram payload. That’s the equivalent of launching an entire small car into enemy territory at speeds of Mach 2. Meanwhile, the Prithvi II, with its slightly extended range of 250 kilometers, helped provide additional flexibility to the Indian Air Force. These missiles might not have the range of the Agni series, but they hit hard and fast — similar to the Russian Iskander missile system in terms of their tactical role on the battlefield. <h2>Akash SAM</h2>The Akash missiles are a surface-to-air missile (SAM) that operates like a protective umbrella for India’s skies. This missile can engage multiple targets at once and hit them from 25 kilometers away, and was made agile enough to shoot down incoming enemy planes, helicopters, or even drones. So far, the Indian forces have built over 3,500 of them. <div type="Article" hostid="261" msid="111540369" title="Israel is inching toward a wider war and a nasty fight against an enemy poised to bombard it as no other foe has" mstype="2" mssubtype="0"></div>While some compare the Akash missiles to Israel’s Iron Dome system, there are some notable differences. Both systems are designed to neutralise aerial threats before they can hit their targets, but their primary roles differ slightly. The Iron Dome is specifically optimised for intercepting short-range rockets and artillery shells, with a success rate that has exceeded 90% in combat situations. Many compare it akin to a highly responsive shield that reacts quickly to immediate missile threats, particularly in urban areas. In contrast, while the Akash missile also intercepts aerial threats, it focuses more on engaging enemy aircraft, drones, and cruise missiles. The Akash's strength lies in its ability to handle multiple threats simultaneously with a rapid response time, similar to the Iron Dome, but with a broader focus on a variety of high-speed airborne targets rather than just short-range rockets. <h2>Nag anti-tank missiles</h2>One of the more specialised missiles Dr. Kalam worked on was the Nag, designed for taking out tanks. Its fire-and-forget technology locks onto an armored tank, flies up, and dives down to strike the tank’s weakest spot from above, punching through even the most advanced armor. <div type="Article" hostid="261" msid="114151124" title="Getting more F-16s is only half the battle. Ukraine also desperately needs to be training more pilots." mstype="2" mssubtype="0"></div>With a range of about 4 kilometers, the Nag is perfect for day or night use, and its laser-guided precision makes it a must-have for the Indian Army. When compared to international anti-tank guided missiles (ATGMs), such as the US's Javelin or Israel’s Spike, the Nag is just as deadly — albeit with a shorter range — providing India with a cutting-edge weapon for modern warfare. However, the Nag's specific design for India’s diverse battlefield conditions, including its deployment on the NAMICA (Nag Missile Carrier), provides it with excellent mobility and flexibility, especially in rough terrains. Dr. Kalam’s genius lay not just in the missiles he helped develop, but in his strategic vision. Today, India stands as one of the few nations with highly capable, indigenously developed missile technology, largely thanks to Kalam’s contributions.

Missile Man of India: How powerful were the missiles developed by Dr APJ Abdul Kalam?

The Tata Group is set to create a massive 5 lakh jobs in the manufacturing sector over the next five years, spanning industries such as semiconductors, electric vehicles (EVs), batteries, and precision manufacturing. Tata Sons Chairman, N Chandrasekaran, made this announcement on Tuesday, underlining the critical role manufacturing will play in India’s ambition to become a developed nation. Speaking at a symposium organised by the Indian Foundation for Quality Management, Chandrasekaran highlighted that India’s progress depends heavily on its ability to generate manufacturing jobs. He stressed that creating employment in this sector is crucial, given the influx of new workers entering the job market each month. “Through our investments in semiconductors, electric vehicles, precision manufacturing, and related industries, Tata Group expects to generate 5 lakh jobs over the next five years,” Chandrasekaran said as per a PTI report. He pointed to the group’s upcoming semiconductor plant in Assam and new manufacturing facilities for electric vehicles and batteries as significant contributors to this job creation. Chandrasekaran also talked about the broader impact of these initiatives, explaining that job creation in manufacturing has a multiplier effect, with numerous indirect employment opportunities arising from these projects. According to his calculations, for every direct job created in sectors like semiconductors, up to ten additional indirect jobs could emerge. The Tata Group’s investments will also spur the growth of small and medium enterprises (SMEs), with an estimated 5 lakh such businesses expected to form as part of the evolving ecosystem supporting these industries. While praising the government’s support for these initiatives, Chandrasekaran said that India’s vision of becoming a “Viksit Bharat” (developed India) cannot be achieved without substantial growth in manufacturing employment. “Every month, one million people join the workforce, and we need to create 100 million jobs,” he added, reinforcing the urgency of job creation in new-age industries. (With PTI inputs)

Tata Group will generate 5 lakh jobs in 5 years, says Tata Sons Chairman N Chandrasekaran

The Indian entertainment industry is mourning the loss of veteran actor Atul Parchure, who passed away on October 14 after a lengthy battle with cancer. Known for his dimpled smile and comic timing, the 57-year-old actor left an indelible mark on both Marathi and Hindi cinema and television. Parchure’s journey in the industry was marked by versatility, with a career that spanned decades across theatre, film, and television. He gained widespread recognition for his roles in popular films like Billu, where he starred alongside Shah Rukh Khan, Partner with Salman Khan, and All The Best with Ajay Devgn. On the small screen, his talent shone in comedy shows, particularly The Kapil Sharma Show, where he entertained millions with his humorous performances. <h2>Battling cancer with hope and determination</h2>In a heart-wrenching interview earlier this year, Parchure opened up about his cancer diagnosis, revealing how he lost over 20 kilograms during treatment. Reflecting on his health struggles, he told the media, “I was mentally prepared that something was wrong with me.” The weight loss was a physical reminder of his fight, yet he remained hopeful throughout, reportedly never asking doctors about the stage of his illness. He shared that he stayed optimistic, keeping his worries private, largely for the sake of his family. Despite battling cancer, Parchure continued to pursue his passion for acting. Just days before his hospitalisation, he was rehearsing for an upcoming Marathi play titled Suryachi Pillay. His friend and colleague, actor Jaywant Wadkar, shared that Parchure’s dedication never wavered. “He was also rehearsing for the show,” Wadkar recalled to the media, adding, “After being diagnosed with cancer, he came out and did a show. I have never seen such a fantastic actor like him.” <h2>Financial burden of cancer treatment</h2>In an earlier interview, Parchure had spoken about the financial burden of his treatment, highlighting the importance of Mediclaim in easing his family’s worries. “Mediclaim partly saved me, along with my savings; otherwise, it would have been very difficult,” he said. Despite the high costs, Parchure credited his family — his wife, daughter, and mother — for their unwavering support, describing them as his “three pillars” who never let him feel like a patient. The actor’s passing has left a void in the industry, and an outpouring of condolences from colleagues and fans alike. Maharashtra Chief Minister Eknath Shinde remarked, “The untimely death of Atul Parchure is painful. This loss is not recoverable.” Actor Shreyas Talpade also expressed his grief, calling Parchure a source of inspiration for the next generation. “He was a very big actor. He has inspired almost all of us,” Talpade shared. Atul Parchure’s legacy lives on through his memorable performances and his contributions to the world of entertainment. As his fans and friends bid him farewell, they celebrate a life dedicated to bringing laughter and joy to countless viewers. (With inputs from agencies)

Before succumbing to cancer, Kapil Sharma Show star Atul Parchure had lost 20 kg during years-long battle with the disease

Hyundai IPO – Price band to risk factors, all you need to know

<ul><li>The global smartphone shipments reported a growth of 4% in Q3 2024.</li><li>316.1 million smartphones were shipped across the world in Q3 2024.</li><li>Samsung emerged as the leader with an 18.3% market share, followed by Apple and Xiaomi.</li></ul>Worldwide smartphone shipments continued to grow in Q3 2024, marking the fifth consecutive quarter to record an increase in smartphone shipments. Four out of the top five smartphone makers have recorded growth in this quarter. According to a report by the International Data Corporation (IDC), 316.1 million smartphones were shipped worldwide in Q3 2024, marking a 4% year-on-year growth. “Led by strong growth from Chinese vendors like vivo, OPPO, Xiaomi, Lenovo and Huawei, the smartphone market shows resilience despite global economic headwinds," said Will Wong, senior research manager, IDC. <h2>Smartphone shipments Q3 2024</h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2024 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2023 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">57.8 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">59.5 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.80% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apple </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">56 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">54.1 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.50% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Xiaomi </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">42.8 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">41.5 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.30% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oppo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.8 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">27.2 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.90% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">27 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">22 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.80% </td></tr></tbody></table> Source: IDC, shipment in millions Korean smartphone maker Samsung continues to lead the global smartphone market despite a decline in shipments. The company shipped 57.8 million devices in Q3 2024, down from 29.5 million devices shipped in Q3 2023, recording a 2.8% decline in shipments. Apple is a close second, with 56 million devices shipped in Q3 2024, up from 54.1 million devices shipped in Q3 2023, registering a 3.5% growth. <div type="Article" hostid="261" msid="114070723" title="Samsung leads the first phase of festive sales with a 20% market share" mstype="2" mssubtype="0"></div> Xiaomi takes the third spot in Q3 2024, shipping 42.8 million devices, up from 41.5 million devices shipped in Q3 2023, registering a 3.3% year-on-year growth. Oppo, which is in the fourth position shipped 28.8 million devices in Q3 2024, up from 27.2 million devices shipped in Q3 2023, registering a 5.9% growth. Chinese smartphone maker Vivo recorded the highest growth in Q3 2024, shipping 27 million devices, up from 22 million devices shipped in Q3 2023, registering a 22.8% year-on-year growth. "While the growth of the Chinese players in emerging markets has been an ongoing theme this year, Apple also enjoyed a 3.5% YoY growth in shipments this quarter fueled by strong demand from the previous models and the launch of the new iPhone 16 lineup,” said Nabila Popal, research director for Worldwide Client Devices. <h2> Smartphone Market Share Q3 2024</h2> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2024 market share </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.30% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apple </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.70% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Xiaomi </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.50% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oppo </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.10% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivo </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.50% </td></tr></tbody></table> Source: IDC Samsung continues to lead the market with an 18.3% market share in Q3 2024, followed closely by Cupertino tech giant Apple with a 17.7% market share. Xiaomi is a distant third with a 13.5% market share. "In Q3 2024, older iPhone models, specifically the iPhone 15, performed exceptionally well due to the heavy promotions and increased marketing activities around Apple Intelligence,” Popal added. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/hyundai-ipo-review-everything-you-need-to-know-about-indias-biggest-ipo/articleshow/114203740.cms">Hyundai IPO review – Everything you need to know about India’s biggest IPO</a> <a href="https://www.businessinsider.in/business/auto/news/the-ola-electric-saga-are-surge-in-complaints-and-declining-market-share-a-wake-up-call-for-bhavish-aggarwal/articleshow/114120828.cms">The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-september-2024-maruti-suzuki-dominates-with-seven-cars/slidelist/114112295.cms">Top selling cars in India in September 2024 – Maruti Suzuki dominates with seven cars</a>

Global smartphone shipments record 4% growth in Q3 2024, Samsung leads the market

Punjab Police has a new way of fighting cyber crime and it will surely get your attention. Say hello to 'Cyber Mittar', a chatbot that will help citizens with queries related to cyber offences. The initiative, spearheaded by the Punjab Cyber Crime Cell, is part of the state’s efforts to boost real-time cybercrime reporting and resolution. The Cyber Mittar chatbot will offer instant information access, 24/7 assistance, and a confidential platform for reporting cyber incidents, thereby ensuring the protection of personal details. Announcing the launch on social media platform X, Punjab Director General of Police (DGP) Gaurav Yadav highlighted the chatbot’s role in providing around-the-clock support to the public. "To tackle realtime cybercrime reporting, Punjab Cyber Crime Cell have upscaled and increased our capabilities on #Helpline 1930 and on the Citizen Financial Cyber Fraud Reporting &amp; Management System (CFCFRMS). Chatbot Cyber Mittar has been launched today in Punjab for providing assistance to queries relating to cyber crimes," Yadav wrote in his post on Monday. He added that the chatbot will significantly improve the speed at which financial fraud cases are resolved. This innovative step, he said, is about more than just technology—it’s about protecting citizens in an increasingly digital world. “The introduction of Cyber Mittar marks a significant leap in our fight against cybercrime. With advanced software that can freeze fraudulent transactions in real time, we can secure victims’ funds and prevent further financial loss. We are also equipped with tools to unlock compromised devices, ensuring quick recovery for affected individuals,” he said. He further mentioned that the Cyber Crime Cell in Punjab is staffed by domain-specific experts, trained to handle the complexities of modern-day digital crime. Their expertise enables them to not only assist victims but also recover lost funds with record efficiency. Highlighting the human element behind these technological advancements, DGP Yadav expressed the commitment of the Punjab Police to the well-being and safety of its citizens, both in physical and digital spaces. He assured that with tools like the Cyber Mittar chatbot and helpline services, the police are always ready to provide swift support whenever needed. “As we embrace the challenges of the digital age, our commitment to safeguarding citizens’ digital lives remains resolute. These tools aren’t just technological progress—they are lifelines for the public, ensuring that we are listening, ready, and dedicated to making every individual feel secure,” he said. The Cyber Mittar chatbot stands as a testament to Punjab’s growing focus on cybersecurity, reflecting a new era of proactive measures in tackling cybercrime. Through this, the state aims to foster a safer and more connected digital community.

Punjab Police will use an AI chatbot to solve cybercrime cases, say hello to Cyber Mittar

<ul class="summary-list"><li>Positioning in financial stocks is light relative to other sectors, Morgan Stanley says.</li><li>They see the group as underappreciated, and cite its exposure to ongoing economic strength.</li></ul>Investors are lingering in defensive trades that don't take advantage of the economy's ongoing strength, Morgan Stanley said, highlighting opportunities in underinvested sectors.The firm — which just last week upgraded cyclical stocks to "overweight" relative to defensives — highlighted the financials group as particularly attractive.Morgan Stanley said net exposure to financials is in the bottom 15th percentile of a historical data series that that goes back to 2010. And as the chart below shows, it's also the most lightly owned of any sector.<div type="image" title="A Morgan Stanley chart showing equity sector exposure." height="1448" width="2366" msid="114226247" hostid="261" sizebytes="104460"></div>But Mike Wilson, the bank's CIO and chief US equity strategist, sees a combination of headwinds that could lift financial stocks. "In our view, this creates opportunity in [the financial] sector that we upgraded to overweight last week given: rebounding capital markets activity, a better loan growth environment in 2025, an acceleration in buybacks post Basel Endgame re-proposal, and attractive relative valuation," he wrote.Bank stocks also have more attractive valuations after de-risking last month after large-cap dealers signaled caution on their operating environment in September. Morgan Stanley noted that this weakness lowered earnings-season expectations for investors, making it easier for major lenders to outperform forecasts.<a target="_blank" href="https://markets.businessinsider.com/stocks/jpm-stock">JPMorgan</a> and <a target="_blank" href="https://markets.businessinsider.com/stocks/wfc-stock">Wells Fargo</a> have jumped since publishing better-than-expected earnings reports last week. Since Friday's open, these banks are up 3.8% and 8.8%, respectively.Despite this, the market's appetite for financials hasn't yet materialized, Wilson found. But this isn't just limited to bank stocks — investors are also passing up on other cyclical sectors, concentrating exposure in defensive and quality names.Utilities, healthcare, and real estate — which are defensive plays — are among four sectors with the highest net exposure.According to Wilson, this shows that investors are still positioning themselves for a soft-growth scenario, which seems less likely given in light of recent macroeconomic trends.Though Morgan Stanley moved to neutral on cyclicals versus defensives late last month, it upgraded cyclicals to overweight last week after September's <a target="_blank" href="https://www.businessinsider.com/september-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-10">jobs report surged past Wall Street forecasts</a>."As several key macro data points have come in better than expected (namely the jobs report and the ISM Services Index) following the Fed's 50bp rate cut, cyclicals have begun to show relative strength," Wilson said.At the same time, rates market yields are moving higher, indicating that growth concerns are falling.According to the note, cyclicals such as industrials, financials, and energy move up when yields rise, whereas defensive stocks are negatively correlated to higher rates.

Financial stocks are still being woefully underappreciated by investors, Morgan Stanley says

Sebastien Bubeck, Microsoft’s vice president of GenAI research, is making headlines with his decision to leave the tech giant and join ChatGPT parent OpenAI. This move has sparked curiosity in the tech world, as Bubeck played a significant role in Microsoft’s AI research. While the exact role he will assume at OpenAI remains unclear, Microsoft has confirmed his departure and highlighted his intention to pursue the development of artificial general intelligence (AGI). A Microsoft spokesperson said that the company remains positive about continuing its relationship with Bubeck through his future work with OpenAI. “Sebastien has decided to leave Microsoft to further his work toward developing AGI,” the spokesperson said as per a Reuters report, indicating that the collaboration between Microsoft and OpenAI will not be hindered by this change. Bubeck, however, has not yet provided any personal comments on the move. Bubeck’s departure is notable, but it appears that his former colleagues who coauthored a research paper on Microsoft’s Phi LLMs, a project focusing on developing smaller, more efficient language models than traditional large language models (LLMs), will continue their work at Microsoft. According to reports, the team plans to advance the development of these models, indicating that Bubeck’s departure might not significantly disrupt Microsoft’s AI research efforts. Interestingly, this news follows a wave of exits from OpenAI itself, including the departure of its longtime chief technology officer, Mira Murati, in September. Despite these changes, OpenAI’s CEO, Sam Altman, has denied that any of the recent departures are linked to the company’s ongoing restructuring plans. Bubeck’s move also comes at a time when the relationship between Microsoft and OpenAI has shown signs of strain. Reports have suggested that OpenAI is seeking greater independence from Microsoft’s cloud services, even leasing data centres from Oracle in Texas to diversify its infrastructure. In addition, OpenAI recently raised a remarkable $6.6 billion in one of the largest venture capital rounds in U.S. history, further fuelling its ambitions. With Bubeck joining OpenAI during such a transformative period for both companies, the implications for the future of AI and AGI are significant. His expertise could potentially accelerate OpenAI’s progress, while Microsoft continues to build upon its AI foundations without him. ( With Reuters inputs)

Microsoft VP of GenAI research Sebastien Bubeck to join ChatGPT parent OpenAI

<ul class="summary-list"><li>Investors need to be wary as sticky inflation remains a risk, Deutsche Bank says.</li><li>The firm detailed five reasons why consumer prices could stay persistently elevated.</li></ul>It's tempting to think the Federal Reserve's fight against inflation is over, given the central bank's recent rate cuts and sharpened <a target="_blank" class="" href="https://www.businessinsider.com/fed-rate-cut-explained-inflation-labor-market-conditions-outlook-recession-2024-9">focus on the labor market</a>. But it's not yet time for investors to relax, Deutsche Bank wrote on Monday.Though inflation now hovers close to the Federal Reserve's 2% target rate, it's not yet time to declare victory: prices continue to <a target="_blank" class="" href="https://www.businessinsider.com/inflation-september-cpi-consumer-price-index-federal-reserve-interest-rates-2024-10">run hotter than expected</a>, and that's happening alongside monetary easing."If inflation does return, this could have very important implications for markets," Deutsche Bank strategists said. "We saw in 2022 how there was a massive selloff across both bonds and equities."The firm detailed five reasons why inflation risks must still be monitored:First, initial interest-rate cuts have been more broader and deeper than expected on a global basis. In the US, the Federal Reserve cut the Fed funds rate by 50 basis points, citing lower headline inflation to justify its aggressive policy flip.While that much is true, history shows that easing cycles are precisely the time to be cautious over inflation, Deutsche said."If inflation does prove sticky above target today, then that could force central banks to keep monetary policy in restrictive territory for longer," the note said.Second, stimulus momentum in China and worsening geopolitics in the Middle East have triggered a notable pickup in commodity prices.Oil prices have jumped this month as investors adjust to escalating tensions between Israel and Iran. After an Iranian missile attack on Israel triggered promises of retaliation, the market has braced for a possible disruption to the region's crude output.<a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent</a> crude gained sharply in early October, peaking at $80 per barrel. Deutsche noted this as a considerable high, noting that the international benchmark traded below $70 a barrel just one month prior.If Israel's response decimated Iran's oil installations, analysts expect prices to hit as much as $200 per barrel.Meanwhile, industrial metals such as <a target="_blank" href="https://markets.businessinsider.com/commodities/copper-price">copper</a> have also taken flight, after China announced a series of stimulus measures to reenergize its fleeting economy. The metal is a key component in <a target="_blank" href="https://www.reuters.com/markets/commodities/china-copper-iron-ore-stay-stimulus-believers-others-sceptical-russell-2024-10-14/">construction and manufacturing</a>, and can stand to benefit if the world's second-largest economy recovers.Third, odds of a US recession are ebbing as the economy shows signs of resilience that could keep inflation elevated."Much as the stronger news on growth is welcome, it also means that economic demand and inflation is likely to be stronger than it would otherwise have been," analysts wrote.Fourth, September's consumer price index report surprised investors last week.Not only was the inflation reading higher than estimated, core CPI ran at its fastest pace in six months, gaining 0.31%. Core CPI's three-month annualized rate moved up to 3.1%, compared to August's 2.1% print."Although that's only one report, it served as a reminder of how inflation could prove more persistent, and it were the stickier categories in the basket that were holding inflation up," Deutsche wrote. For instance, the Atlanta Fed's "sticky CPI" measure stood at its strongest in five months.Fifth, money supply growth is still accelerating.According to the bank, an increase in this measure can be read as an advance warning that inflation could stay persistently high. This was the case in the post-pandemic period, Deutsche said — though it is admittedly moving up from a low base.The firm cited the fact that in August, US M2 money supply rose 2.0% year-over-year, the highest growth rate since September 2022.

5 reasons why inflation will be stickier than expected going forward, Deutsche Bank says

<ul class="summary-list"><li>Tesla's robots serving drinks and talking to guests at the "We Robot" were partly controlled by humans.</li><li>The robots' performance quickly raised skepticism about their true capabilities and independence.</li></ul>Tesla's robots might have wowed viewers at its <a target="_blank" class="" href="https://www.businessinsider.com/tesla-robotaxi-event-cybercab-elon-musk-2024-10">"We Robot" event</a> Thursday by serving drinks, answering questions, and playing rock-paper-scissors, but people were quick to suspect that the performance was too good to be true.It turns out they were right.Tesla CEO Elon Musk proudly showed off the latest version of his Optimus robots, which were last seen in September <a target="_blank" class="" href="https://www.businessinsider.com/tesla-robot-optimus-yoga-video-2023-9">sorting blocks and doing yoga poses,</a> during the event. Musk, who said Tesla had been making progress on the humanoid robots, predicted they would become "the biggest product ever of any kind."The robots walked into the spotlight closely flanked by Tesla engineers."One of the things we wanted to show tonight is that Optimus is not a canned video, it's not walled off," Musk said. "The Optimus robots will walk among you. Please be nice to the Optimus robots. So you'll be able to walk right up to them and they'll serve drinks at the bar."<div type="image" title="Tesla Optimus robot" height="1112" width="1482" msid="114227285" hostid="261" sizebytes="43984"></div>Morgan Stanley analysts wrote in a note on Friday that the robots weren't fully operating independently and "relied on tele-ops," or humans controlling them behind the scenes."Overall, we did not pick up on anything new/novel about Optimus that clearly showed significant progress," the analysts wrote. "Including little incremental detail from the company that the market was not previously aware of. "Videos of guests' interactions with the Optimus robots posted online underscored that humans were involved.One attendee <a target="_blank" class="" href="https://x.com/zhen9436/status/1844773471240294651">posted a video</a> on X, formerly Twitter, asking an Optimus robot operating a beer tap if it was remote-controlled, to which it responded that it was "assisted by a human." "I'm not yet fully autonomous," the voice said, with a human-sounding trip over the word "autonomous."Another <a target="_blank" class="" href="https://x.com/Scobleizer/status/1844594008225611858">video</a> showed a guest trying to get the robot to reveal how much of it was actually AI and not a human. "I can't disclose just how much, that's something you'll have to find out later," the voice said. "I would say, it might be some. I'm not going to confirm, but it might be some."Although some commenters felt the human assistance was "obvious," others said that Tesla's presentation was misleading.Tesla influencer Jeremy Judkins <a target="_blank" class="" href="https://x.com/jeremyjudkins_/status/1845157754778050895?s=61&amp;t=GzPrMPqx1H24t4TRy2DnQQ">wrote on X</a> that he didn't realize the bots were human-controlled until after the event, saying Tesla "misled millions of people" who watched the livestream.Josh Wolfe, cofounder of Lux Capital, also seemed to disapprove."Totally worthy to celebrate low latency remote control but totally dishonest to demo these as autonomous robots—call it the parlor trick it is," he <a target="_blank" class="" href="https://x.com/wolfejosh/status/1844713270747259391?s=61&amp;t=GzPrMPqx1H24t4TRy2DnQQ">wrote</a>.Tesla did not immediately respond to Business Insider's request for comment.Musk said he envisions a future where "Optimus robots will walk among you." The Tesla CEO expects it to become a household companion, likening it to a personal "Star Wars" R2-D2 or C3-PO that can pick up your groceries and babysit your kids.Musk, who has said he is "pathologically optimistic," has also said that Optimus will boost Tesla's valuation into the trillions.Tesla has said it's <a target="_blank" class="" href="https://www.businessinsider.com/tesla-says-two-optimus-humanoid-robots-working-in-factory-autonomously-2024-6">already deployed two</a> Optimus robots on its factory floor, though it is unclear what tasks they are completing. Tesla has said the humanoid robots will eventually be sold to both companies and consumers.Musk predicted an eventual price tag of $20,000 to $30,000 price tag — "probably less than a car"— when manufactured at scale, which he said would take some time.Do you work at Tesla and have a story to share? Reach out to the reporter from a non-work email and device at aaltchek@businessinsider.com

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