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Elon Musk-owned electric vehicle company <keyword id="107096" type="General" weightage="20" keywordseo="Tesla" source="Orion">Tesla</keyword> has started to allow other automakers to use its <keyword id="15500573" type="General" weightage="20" keywordseo="EV-connector" source="Orion">EV connector</keyword> design. The Tesla charging connector, which combines AC charging and up to 1 mega-watt of DC in a "slim package", is the most well-known connector in North America, the company said in a blogpost. It is half the size, twice as powerful, and has no moving parts compared to Combined Charging System (CCS) connectors. "We invite charging network operators and vehicle manufacturers to put the Tesla charging connector and charge port, now called the North American Charging Standard (<keyword id="887753" type="General" weightage="20" keywordseo="NACS" source="Orion">NACS</keyword>), on their equipment and vehicles," the EV maker said. "Tesla's Supercharging network has 60 per cent more NACS posts than all the CCS-equipped networks combined," it added. NACS is the common charging standard in the US. Tesla owners can expect charging at other networks without adapters as network operators already have plans in place to implement NACS at their chargers. "We look forward to future electric vehicles incorporating the NACS design and charging at Teslaa�s North American Supercharging and Destination Charging networks," Tesla said. "We are actively working with relevant standards bodies to codify Tesla's charging connector as a public standard." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/healthy-gut-microbiome-helps-to-improve-cancer-treatment-study/articleshow/95471197.cms">Healthy gut microbiome helps to improve cancer treatment: Study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/ulcer-at-mouths-corner-first-sign-of-monkeypox-infection-say-scientists/articleshow/95467045.cms">Ulcer at mouth's corner first sign of monkeypox infection, say scientists</a>

Tesla opens its EV connector design to other automakers

<ul class="summary-list"><li>Many car companies say their electric vehicles will be built with the <a href="https://www.businessinsider.com/tesla">Tesla</a> charging standard starting in 2025.</li><li>It begs the question: Why wouldn't a non-Tesla EV shopper delay their purchase until then?</li></ul>It's supposed to be a huge advantage to non-Tesla car companies that they're <a href="https://www.businessinsider.com/tesla-owners-dont-worry-about-nacs-charging-deals-ford-gm-2023-7">switching to Tesla's charging tech</a>. But experts in the automotive industry say it might be just one example of why car shoppers should hold off on <a href="https://www.businessinsider.com/electric-car-ev-fake-engine-sound-hyundai-dodge-toyota-2023-7">buying an electric vehicle</a> other than a Tesla — at least for the next two years.Ford, GM, Rivian, Volvo, Polestar, and more have said they will <a href="https://www.businessinsider.com/how-to-charge-non-tesla-ev-at-supercharger-models-adapters-2023-7">build their electric vehicles</a> with Tesla's North American Charging Standard, known as NACS, beginning in 2025 so their customers would have access to Tesla's Supercharger network. The <a href="https://www.businessinsider.com/tesla-supercharger-charging-network-marketing-2023-3">network has long been one of the car company's</a> biggest strengths. If a driver currently owns one of those companies' EVs, they should be able to plug into Tesla charging sites beginning next year, so long as they have an adapter.Charging companies like Electrify America and other competitors have pledged to add NACS to their existing networks as well. (Until recently, EV makers other than Tesla have used the Combined Charging System, known as CCS.)With automakers, charging providers, and more moving to Tesla's tech, CCS will be far less common in the coming years."This is the risk at any point in time when you buy into a technology that evolves: Your technology feels out of date at best and obsolete at worst," Karl Brauer, an executive analyst at iSeeCars.com, told Insider. "Almost all the people who have EVs, except Tesla owners, are looking at futzing around with adapters for the rest of their ownership or somehow trying to pay to have a new plug system put on their car."<h2>Out of style</h2>The transition away from CCS won't happen overnight — and adapters exist — but why would a car-buyer purchase a new electric vehicle with CCS before then?For the <a href="https://www.businessinsider.com/used-car-buyers-pricing-inventory-average-age-vehicle-on-roads-2023-5">long average lifespan of a car</a> — not to mention what happens when these cars enter the used market — at most they have two years without NACS dominance."If you're about to spend $30, $40, $70, $100,000 and now, all the plugs on these cars except for Teslas are technically obsolete, all going to be replaced in the next one to three years with a new system," Brauer added, "now they all know that in the next year or two, you shouldn't buy a vehicle."It makes the next few years a particularly unique period in the <a href="https://www.businessinsider.com/electric-vehicle-revolution-hits-delays-production-sales-tesla-china-2023-4">EV evolution</a>. Over the past decade or so, EV tech stayed mostly the same. The technology in EVs made in the coming decade will be more advanced and stable. But as far the period in between, with <a href="https://www.businessinsider.com/electric-car-price-cuts-hurt-early-adopters-tesla-price-war-2023-7">prices dropping</a> and the charging shift, some experts say the industry shouldn't be surprised if consumers hold off on their purchases.That could be a crisis for automakers spending billions of dollars to electrify their lineups now — especially for those with <a href="https://www.businessinsider.com/auto-dealerships-inventory-electric-vehicles-gas-cars-key-problems-2023-6">inventory piling up</a> in the short term. It could also cause challenges down the line: Used EVs equipped with CCS might not sell as well as those with NACS once NACS is widespread.<h2>Charging is only one part of the problem</h2>As EV tech gets better overall, including range improvements, faster and bidirectional charging, lower costs, and battery breakthroughs, buyers might wait (or go to Tesla if they feel the company's tech is more future-proof). "The charging connector is going to be perhaps a significant issue and delays some buyers pulling the trigger on a new EV," Loren McDonald, the CEO of market analysis firm EVAdoption, said. "But I think most of those buyers understand that there are six to 10 other hardware and software advancements that will make that EV better, and when you add it all up, that's maybe a more compelling reason to hold off rather than just the NACS versus CCS connector."McDonald said he anticipated purchase delays and a near-term <a href="https://www.businessinsider.com/ev-electric-car-lease-vs-purchase-buying-tips-cost-2023-2">uptick in EV leasing</a>. "The more we see these pricing fluctuations and as well as all these hardware issues, a lot of people are going to realize that leasing is maybe the better way to go," McDonald added, "because it means I can get, in essence, the new iPhone on wheels every three years and I don't have to worry about the residuals, that I have a car that's now technologically obsolete."There's this noise unlike we've ever seen before of all these future models that are going to be better, faster, cheaper, more range, et cetera," he said. "I think that's the real issue."Have you bought an electric vehicle from an automaker that has said it's switching to NACS in the next two years? Are you planning to buy an EV in 2025 once it comes built with NACS? Do you have a tip or opinion to share? Contact this reporter at astjohn@insider.com.

Don't buy any electric car but a Tesla right now

<ul class="summary-list"><li>YouTuber Bjørn Nyland took his Polestar 2 to a <keyword id="12593852" type="UNKNOWN" weightage="60" keywordseo="tesla-supercharger" source="Orion">Tesla Supercharger</keyword> in Norway for the first time.</li><li>He said charging speed and a cheap price make the Supercharger network attractive even for non-Tesla owners.</li></ul>An electric vehicle owner posted a video of his first time charging his Polestar 2 with a <keyword id="11900744" type="UNKNOWN" weightage="60" keywordseo="tesla" source="Orion">Tesla</keyword> Supercharger after the company <a href="https://www.businessinsider.com/tesla-expands-non-tesla-supercharging-to-france-and-norway-2022-1">opened some of its charging stations</a> to non-Tesla drivers in France and Norway on Monday.The YouTuber, <a href="https://www.youtube.com/channel/UCG1QcV31eoSaX4rE8avQL4A">Bjørn Nyland</a>, pointed out several advantages to using Tesla's Supercharger network for non-Tesla vehicles, including the charging speed and relatively low price. Nyland said he bought a Tesla subscription for 150 NOK per month, equivalent to about $17. With the subscription, his charging experience cost about 2.7 NOK or 31 cents per kilowatt-hour (kWh) and a small <a href="https://www.tesla.com/support/supercharger-idle-fee#:~:text=The%20Tesla%20app%20allows%20owners,will%20incur%20an%20idle%20fee.">idle fee</a> — a price that Nyland said beats most charging stations in Norway.The YouTuber also indicated a few difficulties that non-Tesla drivers could face at the charging stations. He showed two Volkswagen and Audi drivers at the station who had to park in a bus lane because their <keyword id="20632" type="UNKNOWN" weightage="60" keywordseo="cars" source="Orion">cars</keyword>' charging ports didn't align with the orientation of the Superchargers. Nyland said that EVs that did not have a charging port on the same side of the vehicle as Teslas could cause more <a href="https://www.businessinsider.com/tesla-free-supercharging-christmas-holiday-weekend-2021-12">long lines</a> and confusion at the stations. Similarly, Nyland said some EVs might still not be able to charge at the stations as the Supercharger network only works with Combined Charging System (CCS) cables, not the fast-charging <a href="https://chademo.com/">CHAdeMo connectors</a> used by the Nissan LEAF, Mitsubishi Outlander PHEV, and older Kia models.Tesla is <a href="https://www.businessinsider.com/tesla-expands-non-tesla-supercharging-to-france-and-norway-2022-1">piloting the program</a> in Norway, France, and the Netherlands and includes about 40 Supercharger locations. Tesla initially <a href="https://www.businessinsider.com/tesla-elon-musk-chargers-supercharger-network-2021-11">began offering</a> the program to non-Tesla drivers in the Netherlands in November. Only select stations are accessible for non-Tesla EVs. In Norway, the company is offering the new program at about 15 locations. <a href="https://www.businessinsider.com/tesla-expands-non-tesla-supercharging-to-france-and-norway-2022-1">Insider's Tim Levin reported</a> that the program could serve as an additional revenue stream for Tesla, as well as help eliminate range anxiety for electric car owners. Tesla's expansive Supercharger network makes up the <a href="https://www.businessinsider.com/tesla-owners-hold-advantage-electric-cars-charging-stations-2021-7">majority of charging stations in the US</a> and represents a <a href="https://www.businessinsider.com/california-road-trip-reveals-tesla-advantages-over-other-electric-cars-2021-8">key advantage</a> for the electric carmaker. In its <a href="https://www.tesla.com/support/non-tesla-supercharging">initial announcement</a> for the expansion of the pilot program, Tesla said it plans to "review the experience, monitor congestion and assess feedback before expanding."

Video shows what charging a non-Tesla on the Supercharger network is like

<ul class="summary-list"><li>Tesla has been dominating headlines as more automakers switch to its charging tech.</li><li>But Peter Rawlinson, the CEO of Tesla rival EV-maker Lucid, isn't convinced the tech is a shoo-in.</li></ul>While <a href="https://www.businessinsider.com/how-teslas-charging-partnership-ford-and-gm-works-consumers-2023-6">automaker after automaker signs on to use Tesla's well-regarded charging technology</a>, one rival executive isn't completely sold yet. <a href="https://www.bloomberg.com/news/articles/2023-06-30/tesla-electric-car-charging-hype-questioned-by-lucid-ceo-rawlinson-tsla-lcid?sref=LspfQlRv">Bloomberg reports</a> that Gabriel Daoud, an analyst at Cowen, referenced the Tesla charger earlier this month, saying: "It's just a plug." <a href="https://www.businessinsider.com/lucid-ceo-peter-rawlinson-profile-elon-musk-tesla-2021-9">Peter Rawlinson</a>, the CEO of <a href="https://www.businessinsider.com/how-lucid-peter-rawlinson-plans-beat-tesla-elon-musk-2021-10">Lucid</a>, echoed those exact words in an interview, according to the outlet. "What we're really comparing is, is it a screw cap or is it a cork on the bottle, not the quality of the wine," <a href="https://www.bloomberg.com/news/articles/2023-06-30/tesla-electric-car-charging-hype-questioned-by-lucid-ceo-rawlinson-tsla-lcid?sref=LspfQlRv" target="_blank" rel="noopener">Rawlinson </a>told Bloomberg. "It's rather bizarre." In recent months, Ford, GM, Volvo, Rivian, and others have said they'll soon offer compatibility with Tesla's North American Charging Standard, known as NACS. But for now, the Lucid is sticking with the Combined Charging System, or CCS, that until recently, all other non-Tesla carmakers had been using or planning to use for their electric vehicles. Part of Tesla's long-time advantage has been its exclusive <a href="https://www.businessinsider.com/tesla-supercharger-charging-network-marketing-2023-3">Supercharger network, which</a> many owners say is a better charging experience than the alternatives. But now, Elon Musk is <a href="https://www.businessinsider.com/tesla-owners-hate-waiting-to-charge-ford-gm-electric-cars-2023-6">sharing the wealth of those advantages with other EV companies</a> and working to make his way the industry standard.Lucid's Rawlinson had first-hand experience with the making of the NACS connector — then just known as the Tesla charging connector — through his previous role as chief engineer of the Model S with Musk.(Interestingly, <a href="https://insideevs.com/news/505126/elon-musk-tweet-rawlinson-not-chief-engineer/" target="_blank" rel="noopener">Musk has tried to claim in recent years that Rawlinson was never chief engineer at Tesla,</a> and the two reportedly aren't exactly on good terms.) Rawlinson has noted the Tesla's Supercharger network's reliability, and said Lucid will likely move to NACS eventually, according to Bloomberg. But Rawlinson is cautious about adopting the Tesla plug before it has been standardized. "If you've got the most advanced technology in the world, you're a bit reluctant to risk that," Rawlinson told Bloomberg, referring to his own company. Rawlinson has regularly touted the superiority of his company's vehicle tech during quarterly earnings calls.Meanwhile, "If you haven't got the most advanced technology in the world, you're not really incentivized to tread that warily," Rawlinson said, perhaps a slight to other car companies.One of Rawlinson's concerns was Tesla having access to so much more charging data."Whoever controls this — if it isn't an open, impartial standard, if it's owned by one company — has access to a lot of consumer data," the executive told Bloomberg. "It's who owns that data, and making it genuinely open-sourced, that would worry me."

'It's just a plug': A rival EV CEO isn't sold on Tesla's charging tech &mdash; even as giants like Ford and GM sign on

New Delhi, Feb 24 () Markets regulator Sebi on Monday reviewed the margin framework for cash and derivatives segments, in order to bring more efficiency in the risk management system. The move has been taken to keep pace with the changing market dynamics and to bring more efficiency in the risk management framework. The framework, which has been prepared in consultation with the capital markets regulator's Risk Management Review Committee, will come into effect from May 1 this year, the Securities and Exchange Board of India (Sebi) said in a circular. Margin, in market parlance, is the minimum fund or security an investor is required to pay to the stock broker before executing a trade. This is basically part of the money collected by bourses from brokerages as upfront, before giving exposure for trading in equity and commodity derivatives. With regard to margin framework for the cash market, Sebi has divided value at risk margin rates in three categories based on liquidity. In respect of margin framework for derivatives, the regulator has reviewed its guidelines on volatility calculation, scan range on price as well as volatility, calendar spread charge on various products, minimum charge on short option, extreme loss margin and margin on consolidated crystallised obligation. Besides, there is a provision of additional margin for highly volatile stocks. "For securities with intra-day price movement of more than 10 per cent in the underlying market for three or more days in past one month, the minimum total margins shall be equal to the maximum intra-day price movement of the security observed in the underlying market in last one month," Sebi said. This would be continued till monthly expiry date of derivative contracts that falls after completion of three months from date of levy, it added. For securities with intra-day price movement of over 10 per cent in the underlying market for 10 or more days in past six months, the minimum total margins would be equal to the maximum intra-day price movement of the security observed in the underlying market in the previous six months, the regulator said. It further said this will be continued till monthly expiry date of derivative contracts that falls after completion of one year from date of levy. Sebi has reiterated that the risk management is primarily a responsibility of clearing corporations (CCs) and the framework prescribed by the regulator is a minimum framework. It further said CCs are allowed to be more conservative as per their own perception of risk. Earlier in January, the regulator has rationalised margin framework for the commodity derivatives segment, wherein clearing corporations need to categorise commodities as per their realised volatility. SP HRS

Sebi reviews margin framework for cash, derivatives segments

<ul class="summary-list"><li>Tesla is slowly opening many of its charging stations to vehicles of other automakers. </li><li>Ford and GM recently said their cars will be able to use Tesla Superchargers. </li></ul>It looks like Tesla's Superchargers are going to win out after all. After <a href="https://www.businessinsider.com/tesla-to-bring-supercharger-network-to-rival-ford-musk-says-2023-5">Ford</a> and <a href="https://www.businessinsider.com/tesla-supercharger-general-motors-ford-ev-charging-access-network-2023-6">General Motors</a> both <a href="https://www.businessinsider.com/tesla-owners-hate-waiting-to-charge-ford-gm-electric-cars-2023-6">inked deals to let their customers access the sprawling network</a>, several other private charging operators said they would also add compatibility. Tritium, an Australian company that manufactures EV chargers, said Monday that it would add a connector option for the North American Charging Standard, or NACS, the plug <a href="https://www.tesla.com/blog/opening-north-american-charging-standard" target="_blank" rel="noopener">first designed by Tesla and opened to other automakers in 2022. </a>EVgo, which operates one of the largest non-Tesla charging networks in the US, also said it would expand NACS connectors to its network, <a href="https://www.evgo.com/press-release/evgo-announces-plans-to-expand-nacs-deployments/" target="_blank" rel="noopener">specifically citing the moves by Ford and GM in its press release. </a>The two new announcements follow a slew of others in recent months by charger manufacturers to adopt NACS connectivity, according to a <a href="https://evuniverse.beehiiv.com/p/nacs-evuniverse?utm_source=evuniverse.beehiiv.com&amp;utm_medium=newsletter&amp;utm_campaign=nacs-gains-gm-and-lots-of-charging-players-shell-charging-ads-banned-small-ex30-and-long-id-buzz" target="_blank" rel="noopener">roundup by Jaan Juurikas of EV Universe. </a>Tesla's NACS will now compete with two other main charging port types: CCS and CHAdeMO, which companies like Tritium and EVgo also offer. Tesla's chargers are lighter and easier to use — and the company's <a href="https://www.businessinsider.com/electric-car-drivers-struggle-working-charging-station-survey-tesla-advantage-2022-8">Superchargers stations are known for their uptime</a> and lack of <a href="https://www.businessinsider.com/electric-car-charging-reliability-broken-stations-ev-2022-5">issues that plague other chargers</a>. Still, though, Tesla's connector wasn't always the holy grail.Tesla only recently switched to the name "North American Charging Standard" recently, a move that appears to have paid off. For years, wide swaths of the industry have worked to conform to CCS and CHAdeMO, which is still the default for competitors like Hyundai, Kia, Volkswagen, and others. If more automakers continue to offer Tesla connectivity, <a href="https://www.businessinsider.com/how-tesla-wins-opening-charging-network-licensing-software-supercharger-2023-6">the benefits could be huge for Tesla. </a>Dan Ives, an analyst at Wedbush Securities, estimated the <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-outlook-gm-ford-charging-partnership-wedbush-tsla-2023-6?_gl=1*oxxp2m*_ga*MjA1NjM0MTkzMC4xNjY2OTg5NjYx*_ga_E21CV80ZCZ*MTY4NjY1OTc3Mi44NDYuMS4xNjg2NjU5ODk3LjE3LjAuMA..">GM and Ford deals could bring in an extra $3 billion in revenue</a> for Tesla over the coming years.

Tesla's charging deals with GM and Ford have charging rivals scrambling to keep up

New Delhi, Mar 3 () Markets regulator Sebi on Tuesday revised norms of compensation and penalty applicable on termination of contracts under the regaining matched book regulations for commodity derivatives segment. The regulator in September 2016 had come out with risk-mitigating tools, christened as regaining matched book rule, for the commodity market. A Sebi circular on Tuesday said that the norms related to compensation and penalty applicable on tear-up of positions have been revised following feedback from Clearing Corporations and stakeholders. The revised norms call for voluntary tear-up at last mark-to-market price along with compensation equal to 10 per cent of last mark-to-market price and penalty equal to 1 per cent of last mark-to-market price. Similarly, partial tear-up (pro-rata against members/clients having opposite positions) would be at last mark-to-market price along with compensation equal to 8 per cent of last mark-to-market price and penalty equal to 1 per cent of last mark-to-market price (to be credited to SGF). Earlier conditions were voluntary tear-up at last mark-to-market price along with compensation (percentage of last mark-to-market price equal to twice the daily price limit) and penalty (5%, to be credited to SGF); Partial tear-up (pro-rata against members/clients having opposite positions) at last markto-market price along with compensation (%age of last mark-to-market price equal to thrice the daily price limit) and penalty (5%, to be credited to SGF). The circular mentioned that other provisions with regard to regaining of the matched book prescribed by Sebi in September 2016, will continue to prevail."Based on the experience gained with regard to the implementation of these norms and the feedback from Clearing Corporations (CCs) and other stakeholders, it has been decided to revise the alternatives ...in terms of compensation and penalty applicable on tear-up of positions," the circular stated.For timely and error free execution, CCs have been asked to have an automated system to implement all such tools, it added. "CCs shall put in place such system, and also conduct testing of the same, within six months from the date of issuance of this circular," the regulator said. SRS MRMR

Sebi revises compensation, penalty norms under regaining of matched book rule

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://commons.wikimedia.org/wiki/File:Jeff_Bezos%27_iconic_laugh.jpg">Steve Jurvetson / Wikimedia Commons</a>Amazon CEO Jeff Bezos.</div></div></div>Amazon confirmed on Tuesday that it is <a href="http://www.businessinsider.com/amazon-acquiring-doorbell-videocamera-startup-ring-2018-2">planning to acquire smart doorbell startup Ring</a>, which lets homeowners talk to visitors using their phones. The reported price tag was around $1 billion (£715 million).Amazon hasn't gone into much detail about why it acquired Ring, but the company is making a bigger play in smart homes. It <a href="http://uk.businessinsider.com/amazon-buys-blink-wireless-security-camera-startup-2017-12">acquired another home security system, Blink, in December</a>. It's also launched Amazon Key, a smart lock and camera combination which <a href="http://uk.businessinsider.com/how-amazons-in-home-delivery-works-2017-10">lets you allow anyone from deliverymen to cleaners</a> into your home.Only a month before Amazon announced the acquisition, it looks like Ring <a href="https://shop.ring.com/pages/privacy">updated its privacy policy</a> with a hint about a big new feature: facial recognition.This is what the updated policy says, emphasis ours:"Where permitted by applicable law, you may choose to use additional functionality in your Ring product that, through video data from your device, can recognize facial characteristics of familiar visitors. For example, you may want to receive different notifications from your Ring Doorbell depending on whether a visitor is a stranger or a member of your household. If you choose to activate this feature, we obtain certain facial feature information about the visitors you ask your Ring product to recognize. We require your explicit consent before you can take advantage of this feature."It was probably only a matter of time. Ring has something like 70% of the US smart doorbell market, <a href="https://www.ccsinsight.com/blog/belle-of-the-ball">according to CCS Insight research from August, </a>but that's at risk from a major rival in the form of Google's Nest Hello doorbell.<div class="KonaFilter image-container display-table"><div><div class="image on-image">RingThe Ring smart video doorbell</div></div></div>Late in 2017, Google announced that the <a href="https://www.cnet.com/news/nest-says-hello-with-a-new-doorbell-camera/">Nest Hello doorbell would come with facial recognition</a>, giving the firm an important edge over Ring. The "Familiar Face Alerts" feature sends alerts to your phone when someone you know turns up at your door. Equally, if a stranger arrives, Nest will ask if you know the person.That version of Nest Hello is set to ship in March 2018 - and Ring's privacy policy update looks like it's trying to stave off its most dangerous competition. What isn't clear yet is whether Ring, like Nest, might charge for facial recognition through a subscription.<h2>Facial recognition could work well with Amazon Key</h2>Amazon Key launched last October, and a doorbell with facial recognition could be a nice addition to the service.Currently, a courier trying to deliver a parcel to a house that has Amazon Key will scan the package's barcode through their own handheld scanner. That triggers a request to Amazon which will check that everything is in order and that the driver is at the right house at the right time. It will unlock the smart lock, and the camera will begin recording as the courier drops off the parcel.Amazon Key isn't just about delivering parcels - it can also let in regular visitors like cleaners and dogwalkers. Adding Ring's facial recognition service could make it easier and faster to give those visitors access. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/buildable-cardboard-kit-hold-nintendo-switch-console-video-game-2018-2">We built Nintendo's next big thing, Nintendo Labo</a></h3> <div> </div> </div>

Amazon's newest acquisition, smart doorbell startup Ring, made a smart move to fend off Google

India is all set to close some bilateral <a href="http://www.businessinsider.in/searchresult.cms?query=military+deals">military deals</a> with Israel. The collective worth of this is around $3 billion. This is before <a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi">Narendra Modi</a>’s Tel Aviv visit this year. 
 
At least three deals with Tel Aviv are headed to the Cabinet Committee on Security (CCS) for the final nod. This will fix Israel's position as one of the top three arms suppliers to India. 
 
The main pact concerns the Rs 10,000-crore joint development of a medium-range surface-to-air missile system for <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+Army">Indian Army</a>. The deal is undergoing financial vetting after conclusion of final contract negotiations. 
 
Image credit: Indiatimes

India closing $3
billion defense deal with Israel

New Delhi, Jan 27 () Markets regulator Sebi on Monday rationalised margin framework for the commodity derivatives segment, wherein clearing corporations will have to categorise commodities as per their realised volatility.
 In addition, clearing corporations have been asked to prescribe floor values of initial margin as well as margin period of risk (MPOR) depending upon their categories, the Securities and Exchange Board of India (Sebi) said in a circular.
 Given the wide variation of liquidity and volatility among different commodity derivatives, the regulator in consultation with other stakeholders has decided to rationalise the margin system.
 Under the framework, clearing corporations (CCs) have been asked to categorise their commodities into three categories of volatility -- low, medium and high -- based on the realised volatility for the past three years.
 In low volatility category, price variation should be up to 15 per cent, the same will be 15-20 per cent for medium and more than 20 per cent for commodities having high volatility.
 Realised volatility will be calculated from series of daily log normal return of main near month future contracts of the respective commodity.
 "The series of daily log normal return shall be rolled over to next month contract on start of staggered delivery period if it is applicable. If staggered delivery is not applicable then rollover shall be done on the day after the expiry of near-month contract," Sebi noted.
 Clearing corporations of the lead exchange will do the categorisation of the commodities and the same will be intimated to and adopted by all other clearing corporations.
 Lead exchange will be the one having the highest average daily turnover across all derivative contracts on the respective commodity based on the past six months' period.
 In addition, the regulator has prescribed minimum initial margin and MPOR for agriculture and non-agriculture commodities based on volatility.
 Margin, in market parlance, is the minimum fund an investor is required to pay to the broker before executing a trade. This is basically part of the money collected by bourses from traders upfront, before giving exposure for trading in derivatives.
 Sebi has prescribed minimum initial margin of 8 per cent for commodities falling under low volatility, 10 per cent for medium volatility and 12 per cent for high volatility.
 In case of non-agricultural commodities, minimum initial margin will be 8 per cent, 10 per cent and 12 per cent for low, medium and high volatility categories, respectively.
 The capital markets watchdog further said the floor values prescribed for initial margin need not be scaled up by MPOR.
 Sebi has fixed a minimum margin period of risk for agri commodities as 3 days each for low- and medium-volatile category and 4 days for high category, while the same for non-agriculture commodities is 2 days each for low- and medium-volatile categories and 3 days for those having high volatility.
 The regulator has asked CCs to review the categories of all commodities once in every six months' period based on the past three years' data. The regulator, further, said commodity may be moved from higher volatility category to lower category only if it satisfies criteria of the revised category of volatility for two consecutive reviews.
 However, movement from a lower to higher volatility category will be done based upon a single review.
 The categorisation will be done on March 1 and September 1 of each year on a rolling basis and in case of any change, it will be applicable from April 1 and October 1 of each year.
 In case derivatives are launched on any new underlying commodity for the first time for which no reference futures prices are available, Sebi said it will be initially categorised based upon prices available in the spot markets subject to a minimum of medium category of volatility.
 Re-categorisation of such commodity from higher to lower category of volatility can only be done after two consecutive reviews, it added.
 With regard to lean period in agri commodities, Sebi noted that during such period (before the arrival of new crop), there is often uncertainty about the arrivals of new crop, which may lead to higher volatility in prices of commodities and, therefore, asked CCs to levy additional lean period margin of 2 per cent on contracts expiring during lean period.
 The lead exchange will determine the lean period in consultation with its relevant product advisory committee and disclose the same on its website.
 Sebi said initial categorisation of commodities will be done by CCs within 15 days and the revised norms with regard to initial margin, MPOR and lean period margin need to be implemented by CCs in a phased manner and will be fully implemented within a period of three months. SP HRS

Sebi rationalises margin framework for commodity derivatives to check volatility

<ul class="summary-list"><li>Seven automakers plan to build an electric-vehicle charging network to take on Tesla.</li><li>Tesla's Supercharger network is by far the largest in North America. </li></ul>Seven car companies are making their own charging network to take on <a href="https://www.businessinsider.com/tesla-ford-gm-volvo-supercharger-electric-cars-charger-network-data-2023-7">Elon Musk's Tesla Superchargers</a>. BMW, General Motors, Honda, Hyundai, Kia, Mercedes-Benz, and Stellantis (the European goliath that owns Jeep, Fiat, Dodge, and many others) announced a joint venture on Wednesday aimed at blanketing North America with thousands of fast-charging plugs. They hope the move will make EV charging more convenient and get more people into electric cars, trucks, and SUVs.The coalition of brands aims to install 30,000 fast-charging plugs, more than Tesla (by far North America's largest provider of fast charging) currently has. Tesla <a href="https://afdc.energy.gov/stations/#/analyze?fuel=ELEC&amp;ev_levels=dc_fast&amp;ev_networks=Tesla" target="_blank" rel="noopener">operates around 22,000 Supercharger stalls in the region</a>. <a href="https://www.electrifyamerica.com/">Electrify America</a>, the charging company established by Volkswagen as part of the <a href="https://www.businessinsider.com/what-volkswagen-did-and-how-they-got-caught-2016-4">Dieselgate scandal,</a> is the next biggest with 3,592 plugs. The automakers didn't specify how long building out the network will take, but said the first stations are scheduled to open in the summer of 2024. Car companies have clear interest in beefing up the continent's charging infrastructure: Worries about where to charge and how long it takes are some of the <a href="https://www.businessinsider.com/americans-divided-electric-cars-jd-power-study-2023-5">biggest things turning people off from buying electric cars</a>. The more convenient, accessible, and quick charging becomes, the more EVs car companies can expect to sell. Most current EV owners charge at home in their garages or driveways, and public charging will be key for getting new buyers — particularly those who live in buildings without private parking — on board. Up until now, most carmakers apart from Tesla turned their buyers loose on a patchwork of third-party public-charging stations. Tesla, by comparison, has spent over a decade building out <a href="https://www.businessinsider.com/electric-car-charging-non-tesla-at-supercharger-kia-2023-3">a vast network of charging stations specifically for its owners</a>. And that network, which historically only allowed Tesla owners to plug in, has been a huge driver of Tesla sales. (Tesla recently began <a href="https://www.businessinsider.com/tesla-only-ev-worth-buying-right-now-charging-nacs-ccs-2023-7">opening up parts of its network to drivers of non-Tesla cars</a> and sharing its charging-plug design with rivals.)<a href="https://www.tesla.com/supercharger">Tesla's chargers</a> are renowned for their reliability and ease of use. For example, Tesla owners don't need to swipe a credit card to pay — they just pull up and plug in, and their car identifies itself to the network. If a Tesla owner goes on a long trip, the car's navigation system will automatically route to Superchargers along the way as needed.That's a level of convenience and seamlessness other EV owners don't get. Moreover, non-Tesla chargers are notorious for poor reliability and for often being out of order. It sounds like the planned charging network aims to mimic some of the things Tesla got right, and add some extra conveniences. The automakers said their network will allow owners to reserve charging spots, plan routes with charging stops, and pay for charging just by plugging in. The stations will also include rain awnings wherever possible, something missing from most current locations. The stations will offer both major charging plugs: The CCS standard that most automakers have used, along with Tesla's NACS plug that's gaining popularity in the industry.

Car companies like Honda, BMW, and Hyundai are banding together to build an EV-charging network bigger than Tesla's Supercharger empire

UBS has just announced a big shake-up in its investment bank.Here are the headlines:<ul><li>Chris Murphy, who had been cohead of FX, rates and currencies (FRC), is leaving. He will stay on at the firm until September. </li><li>George Athanasopoulos will become sole head of FRC.</li><li>Roger Naylor, cohead of equities, is leaving.</li><li>Robert Karofsky, will become sole head.</li><li>Matt Hanning, who had been head of corporate client solutions (CCS) in Asia Pacific, is leaving.</li><li>William Vereker and Ros Stephenson will be global coheads of CCS. </li><li>Sam Kendall will become head of CCS in Asia Pacific.</li></ul>More to follow <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/goldman-sachs-flags-emails-with-these-phrases-2016-6">These are the phrases that will get your email flagged at Goldman Sachs</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="JmMWw3NDE67SsX7jdg192zCLe6Blqs_t" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

UBS just launched a huge shake-up

<ul class="summary-list"><li>Analyst firm CCS Insight is predicting a "cold shower" for generative AI in 2024.</li><li>The firm's chief analyst told CNBC he believes the technology is overhyped and faces immense costs to deploy.</li></ul>An analyst firm is predicting a "cold shower" for generative AI in 2024.CCS Insight, a London-based tech analytics firm, expects that the very real challenges of cost, risk, and complexity in AI could soon overshadow the technology's current hype in 2024, <a target="_blank" class="editor-rtfLink" href="https://www.cnbc.com/2023/10/10/generative-ai-will-get-a-cold-shower-in-2024-analysts-predict.html">CNBC reported</a> on Tuesday."The hype around generative AI in 2023 has just been so immense, that we think it's overhyped, and there's lots of obstacles that need to get through to bring it to market," Ben Wood, the chief analyst at CCS Insight, told CNBC."Just the cost of deploying and sustaining generative AI is immense," said Wood. He added that while massive companies like Google and Meta can shoulder these costs, it would be too expensive for many organizations.For context, AI relies on chips to run, and the firm's prediction comes amid concerns about a <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/ai-nvidia-h100-hopper-processor-hottest-commodity-2023-8">global chip shortage</a>.The importance of these chips has even ignited a <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-twitter-china-tech-giants-nvidia-gpu-chips-2023-8">global scramble</a> for Nvidia's semiconductor chips among industry giants — ranging from Elon Musk to Chinese tech titans.In response to the soaring demand, Nvidia, a trillion-dollar chipmaker, announced in August that it plans to <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/nvidia-triple-production-h100-chips-ai-drives-demand-2023-8">triple the production</a> of its $40,000 processor chips next year.And AI company OpenAI is now exploring plans to <a target="_blank" href="https://www.businessinsider.com/openai-is-considering-making-its-own-ai-chips-chatgpt-2023-10">make its own chips</a>, Reuters reported on Friday, citing recent internal discussions at the company.For context, Dylan Patel, the chief analyst at semiconductor research firm SemiAnalysis, estimated that the company burns through up to <a target="_blank" href="https://www.businessinsider.com/how-much-chatgpt-costs-openai-to-run-estimate-report-2023-4">$700,000 a day</a> on the computing power necessary to keep ChatGPT running.CCS Insight did not immediately respond to a request for comment, sent outside regular business hours.

AI industry could be in for a 'cold shower' next year: analyst

The Indian Government took a note of ‘habitual late-comers’ and has decided to crap a whip on government servants in this regard. The Centre has warned them of disciplinary action and asked for officials at all levels to maintain punctuality. 
 
To maintain punctuality, the Centre had introduced Aadhaar enabled Bio-metric Attendance System (AEBAS) in Central Government offices, including attached/ sub-ordinate offices, last year to replace the manual system of marking of attendance to ensure punctuality is to be implemented in all Ministries. 
 
"This Department on November 21, 2014 and January 28, 2015 while recognizing that the Biometric Attendance System is only an enabling platform had, inter-alia, stated that there was no change in the instructions relating to office hours, late attendance etc," the Department of Personnel and Training (DoPT) has said in a circular issued to all ministries today, titled 'Observance of punctuality in office.". 
 
"In this connection attention is invited to Rule 3(1)(ii) of CCS (Conduct) Rules, 1964 which stipulates that every Government servant shall at all times maintain devotion to duty. Habitual late attendance is viewed as conduct unbecoming of a Government servant and disciplinary action may be taken against such a Government servant. It is also added that punctuality in attendance is to be observed by Government servants at all levels. It is also requested that the necessary directions may be issued to all employees to mark their attendance in BAS portal on regular basis," the DoPT circular, which was issued on June 22, read. 
 
As per a report by Economic Times, nearly 1.3 lakh central government employees are registering their attendance on the AEBAS system. 
 
(Image: Thinkstock)

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