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The <keyword id="19946148" type="General" weightage="20" keywordseo="Karnataka-High-Court" source="keywords">Karnataka High Court</keyword> recently dismissed an appeal filed by a woman seeking Rs 6 lakhs in monthly <keyword id="20538992" type="General" weightage="20" keywordseo="alimony" source="keywords">alimony</keyword>, citing the lack of reasonable justification for the requested amount. <keyword id="22894144" type="General" weightage="20" keywordseo="Justice-Lalitha-Kanneganti" source="keywords">Justice Lalitha Kanneganti</keyword>, presiding over the case, found the petitioner's claim to be excessive and asked for more concrete figures regarding her actual expenses. The appeal, presented by Advocate Akarsh Kanade on behalf of the petitioner, sought the large sum to cover what was described as her “basic needs,” which included items such as bangles, chains, sandals, and watches. The court questioned whether such expenses constituted "basic needs" and noted that the petitioner did not have any dependents or children. <div type="twitter" handle="DeepikaBhardwaj" handlename="DeepikaBhardwaj" favoritecount="0" retweetcount="0" id="1826237815962907135"></div>According to the Bar and Bench, the court said that she has no responsibility for any other family member or children, “Does anybody spend this much? A single lady for herself?” During the hearing, the petitioner referenced her ex-husband’s preference for branded clothing, such as Calvin Klein t-shirts costing around Rs 10,000, arguing that she should be entitled to similar living standards. Additionally, she cited health concerns, including knee joint pain and fever, which she attributed to negligence during the marriage. Further, Judge Lalitha Kanneganti also refused to entertain the request, saying, “If she wants to spend, let her earn,” TOI reported. <h2>But how much alimony is considered fair in India?</h2>In India, alimony, also referred to as <keyword id="20027249" type="General" weightage="20" keywordseo="maintenance" source="keywords">maintenance</keyword>, is a key aspect of <keyword id="19911325" type="General" weightage="20" keywordseo="divorce" source="keywords">divorce</keyword> proceedings. This <keyword id="19972877" type="General" weightage="20" keywordseo="financial-support" source="keywords">financial support</keyword> is provided by one spouse to another, irrespective of the divorce grounds. The determination of alimony involves complex legal and financial assessments, taking into account factors such as the earning capacity of both spouses, their financial needs, the length of the marriage, and the lifestyle maintained during the marriage. The <keyword id="19900742" type="General" weightage="20" keywordseo="supreme-court-of-india" source="keywords">Supreme Court of India</keyword> has set a general benchmark for monthly alimony, where the husband may be required to pay 25% of his net salary to his estranged wife. While this guideline applies to monthly payouts, no specific rule exists for lump-sum settlements, though they typically range from one-fifth to one-third of the spouse's net worth. The calculation of alimony depends on various factors, such as: <ul><li>Monthly incomes of both spouses</li><li>Educational background and employment prospects</li><li>Duration of the marriage</li><li>Number of children and child custody arrangements</li><li>Husband's income, liabilities, and lifestyle</li><li>Reasonable needs and financial independence of the wife</li></ul>In case of the Karnataka woman, the court expressed its expectation that more reasonable figures be provided to support her request. "If you want an order from the court, I want actual figures, not these lakhs of figures," said Justice Kanneganti. The judge also stated that the court is not a place for bargaining and advised the petitioner to be realistic in her demands. While the petitioner’s counsel attempted to lower the alimony request, the court maintained that without a rational basis for the amount, the application could not be entertained. Justice Kanneganti emphasised that the appeal would be dismissed if a more reasonable claim was not presented. In its final remarks, the court suggested that the appeal could be denied solely on the grounds of being unreasonable, stressing the importance of presenting justified and fact-based requests in legal proceedings. <div type="Article" hostid="261" msid="112689204" title="Jennifer Lopez and Ben Affleck reportedly didn&amp;#39;t sign a prenup. Here are the assets they may have to split 50/50 in their divorce settlement." mstype="2" mssubtype="0"></div>

A Karnataka woman is being ridiculed for demanding an alimony of Rs 6 lakh monthly from her ex. Is this fair?

<ul class="summary-list"><li>X mistakenly transferred $5 million in fines to the wrong bank, said Brazil's Supreme Court.</li><li>The court demanded a correct payment before X's ban can be lifted nationwide.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Elon Musk's</a> X just botched a $5 million payment in Brazil by transferring it to the wrong bank, according to Brazil's Supreme Court, <a target="_blank" href="https://www.reuters.com/technology/musks-x-seek-resumption-brazil-service-fines-paid-sources-say-2024-10-04/">Reuters</a> reported on Saturday.This payment issue is the latest in a string of <a target="_blank" href="https://www.businessinsider.com/elon-musk-brazil-x-ban-feud-content-moderation-free-speech-2024-9">complications</a> in Brazil for the company formerly known as Twitter.In late August, Brazil's Supreme Court banned the platform for failing to comply with orders related to content moderation and for not appointing a legal representative in the country.The social media platform was also slapped with a <a target="_blank" href="https://www.businessinsider.com/elon-musk-x-hit-with-last-fine-before-reinstatement-brazil-2024-9">$5.2 million fine</a>.On Friday, X's legal team submitted documents showing that they paid the fines. But the court said that the money had been sent to the wrong bank, Reuters reported. The court said that the money must be redirected to the correct account before it can consider lifting X's ban in Brazil.The company's lawyers maintain that the company has correctly paid the fines, Reuters reported, which is the last hurdle the company has to overcome before being allowed to resume operations in Brazil.Brazil was one of X's key markets, with around 21.5 million users, making it the sixth-largest user base for the platform, <a target="_blank" href="https://www.reuters.com/technology/x-asks-brazils-top-court-allow-it-resume-services-source-says-2024-09-26/#:~:text=Brazil%20was%20X's%20sixth%2Dbiggest,with%20about%2021.5%20million%20users.">Reuters</a> reported last month.The platform's legal troubles in the country have stirred <a target="_blank" href="https://www.businessinsider.com/elon-musk-fight-free-speech-france-brazil-2024-9">tensions</a> over issues of free speech between Musk and Supreme Court Justice Alexandre de Moraes, who was overseeing the case.Musk, who positioned himself as a defender of free speech, clashed with the court over what he saw as an overreach, refused to comply with content removal orders, and launched personal attacks on de Moraes.De Moraes responded by banning the platform in Brazil, issuing additional fines, and threatening to arrest X's legal representatives.X and the Brazil Supreme Court did not respond to requests for comment sent by Business Insider outside business hours.X's apparent payment blunder isn't the first of its kind — or anywhere near the largest. In 2020, Citigroup <a target="_blank" class="" href="https://www.businessinsider.com/citibank-revlon-loan-900-million-mistake-payment-how-it-happened-2021-2">accidentally sent</a> $900 million to Revlon's creditors. The bank spent the next two years in litigation trying to recover the funds, with 10 lenders refusing to return the amount, saying that they believed they were owed the money.

Musk's X paid $5 million in fines to the wrong bank, Brazil's Supreme Court said

The <keyword id="19935664" type="General" weightage="20" keywordseo="Aam-Aadmi-Party" source="keywords" meta.keywordsubtype="org" meta.entityname="Aam Aadmi Party" meta.hostid="261" meta.entityid="Aam Aadmi Party">Aam Aadmi party</keyword> is set to announce the new <keyword id="19919270" type="General" weightage="100" keywordseo="Delhi-Chief-Minister" source="keywords">Delhi Chief Minister</keyword> by 12 pm today after the party's legislative meeting in the national capital. According to the Aam Aadmi Party, the meeting will be held at the Chief Minister's residence today. Following this, <keyword id="19901384" type="General" weightage="20" keywordseo="Arvind-Kejriwal" source="keywords">Arvind Kejriwal</keyword> will meet the <keyword id="20976840" type="General" weightage="20" keywordseo="Lieutenant-Governor-VK-Saxena" source="keywords">Lieutenant Governor VK Saxena</keyword> at 4:30 p.m. today and the newly chosen leader of the legislative party will simultaneously stake a claim for the post of Chief Minister. Delhi Minister Saurabh Bharadwaj remained tight-lipped about who will succeed Arvind <keyword id="19895701" type="General" weightage="20" keywordseo="kejriwal" source="keywords">Kejriwal</keyword> as Chief Minister, stating only that the successor could be either a current minister or an MLA. "It does not matter who sits on the CM chair because the mandate was for Arvind Kejriwal. The public chose Arvind Kejriwal. He has said that he will not sit on the CM chair until the people ask again but the chair belongs to Arvind Kejriwal for these and the next 5 years... One of us will sit on the chair until the elections take place. It will be similar to the way Bharat ruled in the absence of Lord Ram," Bharadwaj said. On being asked who will replace Arvind Kejriwal, Bharadwaj said, "It can be an MLA or any present minister. There will be a discussion with the MLAs today and the name may be decided". Kejriwal announced on Sunday that he would resign and would not resume the CM's post until the people of Delhi declared him "honest." He has also called for advancing polls in the national capital to November this year, ahead of the scheduled February elections. Kejriwal stated that if re-elected by the public, it would serve as a "certificate" of his honesty. He added that he would push for early elections, alongside those in Maharashtra. The announcement by the 54-year-old leader came two days after he was released from the <keyword id="20147871" type="General" weightage="20" keywordseo="Tihar-jail" source="keywords">Tihar jail</keyword> after being granted bail by the <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords" meta.keywordsubtype="org" meta.entityname="Supreme Court" meta.hostid="261" meta.entityid="Supreme Court">Supreme Court</keyword> in a corruption case related to the alleged Delhi Excise Policy scam. The apex court also imposed certain conditions on Kejriwal's release, including that he must refrain from making public comments about the case and must attend all hearings before the trial court unless exempted.

AAP to announce New Delhi CM's name at 12 noon today

<ul class="summary-list"><li>Investors should beware of a contested US election, BlackRock's Jean Boivin told Bloomberg TV on Thursday.</li><li>He joins a chorus of market strategists predicting volatility if election results are delayed.</li></ul>Investors are dismissing the risk of a disputed US election, BlackRock Investment Institute head Jean Boivin told <a target="_blank" class="" href="https://www.bloomberg.com/news/videos/2024-10-24/blackrock-s-boivin-on-us-election-risks-for-markets-video">Bloomberg TV</a> on Thursday."For us, the main thing to watch is really more the contested election scenario that could be weeks of very disrupting legal battles," he said.Boivin added: "I don't think that's in the price and that's where if you want to prepare for some scenario where you need to react, I think that's one of those scenarios that could be bad for markets."The possibility is not far-fetched, with Donald Trump and Kamala Harris locked in a razor-close contest. Recent <a target="_blank" href="https://www.businessinsider.com/harris-trump-presidential-election-swing-state-polls-sun-belt-2024-10">battleground state polling</a> shows a race too close to call with the election less than two weeks away.Overall, he considers it a "fool's errand" to try and trade on what happens come November.However, that hasn't stopped investors from trying: recent weeks have seen the so-called "<a target="_blank" href="https://markets.businessinsider.com/news/stocks/donald-trump-trade-rally-betting-markets-kamala-harris-bitcoin-djt-2024-10?_gl=1*1bjr9iu*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyOTY4Nzg0MS43NTYuMS4xNzI5NjkxNDUyLjYwLjAuMA..">Trump trade</a>" rise on the prospect that the Republican candidate will win, as suggested by betting markets.Other market strategists have echoed in recent weeks Boivin's concern over what an election dispute would mean for markets.According to <a target="_blank" class="" href="https://www.morganstanley.com/ideas/presidential-election-2024-market-forecasts">Morgan Stanley</a>, delayed results have historically triggered short-term volatility. The CBOE Volatility Index — also known as the stock market's fear gauge — spiked 40% during the 2020 election. The measure only eased when a winner was officially declared days later.In another example, Stifel's chief Washington policy strategist Brian Gardner noted that the equity market sold off during the 2000 election dispute between George W. Bush and Al Gore. The S&amp;P 500 fell approximately 5% between Election Day and December 13th, when the Supreme Court ended the legal challenges.However, Gardner points out that macroeconomic backdrops might play a hidden role in these scenarios. In 2000, stocks were steering through the dot-com bubble's rupture. Meanwhile, stocks rose during Trump's election dispute in 2020, likely due to signs that the COVID-19 pandemic was ending."The main takeaway for investors is that the dominant economic and market conditions at the time drove the financial markets rather than political events," he <a target="_blank" href="https://www.stifel.com/Newsletters/AdGraphics/InSight/Potomac-Perspectives/2024/PP_102224.pdf">wrote</a> on Tuesday.As of now, current macroeconomic strength has shifted outlooks on the Federal Reserve's rate-cutting path, leading the bond market through a <a target="_blank" class="" href="https://markets.businessinsider.com/news/bonds/treasury-yields-bonds-interest-rates-economy-inflation-election-labor-market-2024-10">steep sell-off</a>.

A contested election that leads to weeks of uncertainty is a risk being overlooked by markets

New Delhi: The <keyword id="19895345" type="General" weightage="20" keywordseo="supreme-court" source="keywords">Supreme Court</keyword> on Wednesday said it will hear on September 17 the appeal of US-based creditor Glas Trust Company LLC against a judgment of the <keyword id="19916400" type="General" weightage="20" keywordseo="nclat" source="keywords">NCLAT</keyword>, which had stayed insolvency proceedings against ed-tech firm BYJU's and approved its Rs 158.9 crore dues settlement with the <keyword id="19901245" type="General" weightage="20" keywordseo="bcci" source="keywords">BCCI</keyword>. A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra was urged by a battery of lawyers that the plea be heard urgently keeping in mind the subsequent developments in the case. The plea was mentioned by senior advocate NK Kaul, appearing for the ed-tech major, that the case needed to be heard at the earliest. The submission was supported by Solicitor General Tushar Mehta, appearing for the <keyword id="19901245" type="General" weightage="20" keywordseo="bcci" source="keywords">BCCI</keyword>, and senior lawyer Abhishek Singhvi, also appearing for the ed-tech firm. Kaul said another plea in the case has also been filed and that is listed for hearing on September 17 and hence, the present plea be either heard on that day or the hearings in both the cases be advanced to this Friday. "We will hear both the pleas on September 17," the CJI said. Senior advocate Shayam Divan, appearing for the US-based creditor, said let the matters be heard together on September 17. Earlier on August 22, the bench had refused to pass an interim order to ensure that the committee of creditors (CoC) does not hold any meeting in pursuance of the insolvency proceedings against the embattled ed-tech firm. It had listed the plea for a final hearing on August 27. The bench had said the developments, which may take place in the meantime, can be negated if it finds there was no merit in the appeal of the US-based creditor against the judgment of appellate insolvency tribunal <keyword id="19916400" type="General" weightage="20" keywordseo="nclat" source="keywords">NCLAT</keyword>. The plea was mentioned earlier also on August 20 by Byju's and the BCCI and the top court had then also refused to pass an interim order to restrain the Insolvency Resolution Professional (IRP) from constituting a committee of creditors (CoC) in the insolvency proceedings against the ed-tech firm. In a major setback to Byju's, the top court had on August 14 stayed the verdict of NCLAT, setting aside the insolvency proceedings against the ed-tech major and approving its Rs 158.9 crore dues settlement with the Indian cricket board. The August 2 verdict of the NCLAT had come as a huge relief for Byju's as it had effectively put its founder Byju Raveendran back in control. The top court, however, had prima facie termed the NCLAT verdict as "unconscionable" and stayed its operation while issuing notices to Byju's and others on the appeal of the ed-tech firm's US-based creditor against the judgment of the insolvency appellate tribunal. The case stemmed from Byju's default on a Rs 158.9 crore payment related to a sponsorship deal with the BCCI. The top court had directed the BCCI to keep a sum of Rs 158 crore it had received from Byju's after a settlement in a separate escrow account till further orders. "Issue notice. Pending further orders there shall be a stay of the impugned order of August 2 of NCLAT. In the meantime, BCCI shall maintain the amount of Rs 158 crore, which shall be realised in pursuance of a settlement, in a separate escrow account until further orders," the bench had said. The NCLAT had approved the Rs 158.9 crore dues settlement with the BCCI and set aside the insolvency proceedings against Byju's. Byju's had entered into a "Team Sponsor Agreement" with the BCCI in 2019. Under the agreement, the ed-tech firm got exclusive rights to display its brand on the Indian cricket team's kit and some other benefits. Byju's had to pay a sponsorship fee. The company met its obligations till the middle of 2022 but defaulted on subsequent payments of Rs 158.9 crore. After insolvency proceedings were initiated, Byju's entered into a settlement with the BCCI. On July 16, the Bengaluru bench of the <keyword id="19902197" type="General" weightage="20" keywordseo="national-company-law-tribunal" source="keywords">National Company Law Tribunal</keyword> (NCLT) had admitted 'Think and Learn', Byju's parent company, to the insolvency resolution process on a plea filed by the BCCI over default in payment of outstanding dues of almost Rs 158.9 crore. While suspending the board of the ed-tech firm, the NCLT had appointed an interim resolution professional to run the operations of the company, suspended the company's board of directors, and brought it under moratorium by freezing its assets. The US-based lenders suspected that the settlement amount was being diverted from the credit they had extended to Byju's.

SC to hear plea related to insolvency proceedings against ed-tech firm Byju's on Sept 17

The <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords">Supreme Court</keyword> on Friday agreed to list for an early hearing the appeal of US-based creditor Glas Trust Company LLC against a judgment of the <keyword id="19916400" type="General" weightage="20" keywordseo="NCLAT" source="keywords">NCLAT</keyword>, which had stayed <keyword id="19965539" type="General" weightage="20" keywordseo="insolvency-proceedings" source="keywords">insolvency proceedings</keyword> against ed-tech firm <keyword id="19958178" type="General" weightage="20" keywordseo="Byjus" source="keywords">BYJU's</keyword> and approving its Rs 158.9 crore dues settlement with the <keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords" meta.keywordsubtype="org" meta.entityname="BCCI" meta.hostid="153" meta.entityid="BCCI">BCCI</keyword>. A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra was urged by senior advocate NK Kaul, appearing for the ed-tech major, that the case needed to be heard at the earliest. Kaul said, "The only funding was done by the promoters and today no one has brought any external borrowing. We have to show today how malafide the petition (of US firm) is." "I will get it listed as early as possible," the CJI, who was indisposed and in quarantine for the last few days, said. Senior advocate Kapil Sibal, appearing for the US-based creditor, said it also wanted an early hearing. Earlier on August 22, the bench had refused to pass an interim order to ensure that the committee of creditors (CoC) does not hold any meeting in pursuance of the insolvency proceedings against the embattled ed-tech firm. It had listed the plea for a final hearing on August 27. The bench had said the developments, which may take place in the meantime, can be negated if it finds there was no merit in the appeal of the US-based creditor against the judgment of appellate insolvency tribunal NCLAT. The plea was mentioned earlier also on August 20 by Byju's and the BCCI and the top court had then also refused to pass an interim order to restrain the Insolvency Resolution Professional (IRP) from constituting a committee of creditors (CoC) in the insolvency proceedings against the ed-tech firm. In a major setback to Byju's, the top court had on August 14 stayed the verdict of NCLAT, setting aside the insolvency proceedings against the ed-tech major and approving its Rs 158.9 crore dues settlement with the Indian cricket board. The August 2 verdict of the NCLAT had come as a huge relief for Byju's as it had effectively put its founder Byju Raveendran back in control. The top court, however, had prima facie termed the NCLAT verdict as "unconscionable" and stayed its operation while issuing notices to Byju's and others on the appeal of the ed-tech firm's US-based creditor against the judgment of the insolvency appellate tribunal. The case stemmed from Byju's default on a Rs 158.9 crore payment related to a sponsorship deal with the BCCI. The top court had directed the BCCI to keep a sum of Rs 158 crore it had received from Byju's after a settlement in a separate escrow account till further orders. "Issue notice. Pending further orders there shall be a stay of the impugned order of August 2 of NCLAT. In the meantime, BCCI shall maintain the amount of Rs 158 crore, which shall be realised in pursuance of a settlement, in a separate escrow account until further orders," the bench had said. The NCLAT had approved the Rs 158.9 crore dues settlement with the BCCI and set aside the insolvency proceedings against Byju's. Byju's had entered into a "Team Sponsor Agreement" with the BCCI in 2019. Under the agreement, the ed-tech firm got exclusive rights to display its brand on the Indian cricket team's kit and some other benefits. Byju's had to pay a sponsorship fee. The company met its obligations till the middle of 2022 but defaulted on subsequent payments of Rs 158.9 crore. After insolvency proceedings were initiated, Byju's entered into a settlement with the BCCI. On July 16, the Bengaluru bench of the National Company Law Tribunal (NCLT) had admitted 'Think and Learn', Byju's parent company, to the insolvency resolution process on a plea filed by the BCCI over default in payment of outstanding dues of almost Rs 158.9 crore. While suspending the board of the ed-tech firm, the NCLT had appointed an interim resolution professional to run the operations of the company, suspended the company's board of directors, and brought it under moratorium by freezing its assets. The US-based lenders suspected that the settlement amount was being diverted from the credit they had extended to Byju's. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/india-beats-the-us-to-emerge-as-the-second-biggest-market-for-5g-smartphones/articleshow/113095322.cms">India beats the US to emerge as the second-biggest market for 5G smartphones</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-launch-on-september-9-design-specs-and-everything-we-know-so-far/articleshow/113091114.cms">Apple iPhone 16 to launch on September 9 – design, specs and everything we know so far</a> <a href="https://www.businessinsider.in/stock-market/webstories/shree-tirupati-balajee-agro-trading-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113082663.cms">Shree Tirupati Balajee Agro Trading IPO – Price band to risk factors, all you need to know</a>

Supreme Court agrees to list plea related to insolvency proceedings against ed-tech firm Byju's

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hello there! Already thinking about holiday shopping? Maybe this Apple coffee-table book could be good for the music lover in your life. Be warned: It's not cheap, and <a target="_blank" href="https://www.businessinsider.com/apple-coffee-table-book-top-100-music-albums-list-2024-11">there won't be a ton of them made</a>.In today's big story, Saudi Arabia's futuristic city, which is part of its big modernization plans, <a target="_blank" href="https://www.businessinsider.com/neom-saudi-arabia-parts-ways-with-boss-desert-megacity-2024-11">just got another reality check</a>.What's on deck:<ul><li>Markets: Goldman Sachs' newest partners <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-partner-promotions-how-they-celebrated-2024-11">told us how they celebrated the news</a>.</li><li>Tech: IBM + AWS (Nvidia chips) = <a target="_blank" href="https://www.businessinsider.com/aws-negotiating-huge-cloud-deal-supply-ibm-with-nvidia-gpus-2024-11">a huge potential deal</a>.</li><li>Business: Donald Trump appoints Elon Musk to help lead the <a target="_blank" rel="noopener" href="https://www.businessinsider.com/trump-elon-musk-vivek-ramaswamy-department-government-efficiency-doge-2024-11">new Department of Government Efficiency</a> with Vivek Ramaswamy.</li><li>But first, it's not all going according to plan.</li></ul>If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">A broken vision</h2><div type="image" title="A conceptual image of the planned design for The Line in Saudi Arabia's Neom, shows a large mirrored facade extending out into the water from the desert." height="1080" width="1920" msid="115261958" hostid="261" sizebytes="248100"></div>Saudi Arabia's dreams of the future are facing the realities of the present.The CEO of the Kingdom's futuristic city, Neom, <a target="_blank" href="https://www.businessinsider.com/neom-saudi-arabia-parts-ways-with-boss-desert-megacity-2024-11">abruptly stepped down after six years in the role</a>. It's another setback for the country's ambitious Vision 2030 plan to diversify its economy away from relying on oil and make it an attractive tourist destination.Neom is arguably the most high-profile portion of Crown Prince Mohammed bin Salman's plan. Even if you haven't been closely following the project, <a target="_blank" href="https://www.businessinsider.com/neom-saudi-arabia-quirky-features-swim-lanes-ai-robot-clerks-2024-5">you've likely seen mockups of the twin mirrored skyscrapers</a> dubbed "The Line" that look like a massive wall running through the desert.But Neom is having an "Instagram vs. reality" moment … literally. Influencers and vloggers who posted videos of their lives in the yet-to-be-completed city <a target="_blank" href="https://www.businessinsider.com/influencer-posts-life-saudi-city-neom-not-glamorous-2024-9">were mostly mocked</a> in what one viewer described as having "low security prison vibes."Grand plans also don't come cheap. Estimates for Neom have swelled to as much as $1.5 trillion. Saudi has already invested $1.3 trillion in the wider Vision 2030 project.Foreign investments in the plan haven't panned out the way Saudi hoped either, leading the Kingdom to look to China for help with the bill. The move is part of the <a target="_blank" href="https://www.businessinsider.com/china-saudi-arabia-vision-2030-neom-tech-investing-oil-econom-2024-11">deepening financial ties between the two countries</a>, which poses a potential threat to the US.<div type="image" title="Infinity pool Neom" height="1152" width="2048" msid="115261961" hostid="261" sizebytes="158652"></div>Saudi Arabia's big plans also include tech's biggest prize: AI.The Kingdom has spent years investing billions in the tech, including the recent creation of a <a target="_blank" href="https://www.businessinsider.com/saudi-arabia-ai-groq-a16z-vision-2030-mbs-2024-9">$40 billion fund dedicated to AI investments</a>.But it's also looking to <a target="_blank" href="https://www.businessinsider.com/saudi-arabia-ai-hub-tech-investment-2024-11">develop the tech in its home country</a>, writes BI's Hasan Chowdhury. Saudi Arabia's approach to AI isn't unlike the role it plays as an energy giant: Provide the fuel others rely on to make their projects go."Project Transcendence" includes building all-important data centers in the country and serving as the Middle East AI hub for tech giants. AWS has already committed more than $5 billion to building data centers in the country.It's not alone, though. The United Arab Emirates is <a target="_blank" href="https://www.businessinsider.com/abu-dhabi-uae-ai-powerhouse-mgx-openai-investment-2024-10">aiming to be the AI leader in the region by 2031</a>.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/diddy-sean-combs-private-jet-available-charter-sex-trafficking-case-2024-11">Diddy's private jet</a> is available for rent amid his sex trafficking case.</li><li>Trump wins stay in hush-money case, <a target="_blank" href="https://www.businessinsider.com/trump-wins-stay-criminal-hush-money-case-2024-11">allowing him time to argue for its dismissal</a>.</li><li>Olivia Nuzzi <a target="_blank" href="https://www.businessinsider.com/olivia-nuzzi-withdraws-protective-order-against-ryan-lizza-rfk-f2024-11">withdraws protective order against Ryan Lizza</a> in aftermath of RFK Jr. relationship.</li><li>SoftBank is partnering with Nvidia to power an <a target="_blank" rel="noopener" href="https://www.businessinsider.com/softbank-nvidia-first-blackwell-chips-customer-huang-son-ai-supercomputer-2024-11">AI supercomputer in Japan</a>.</li><li>Taylor Swift's fans-first business strategy <a target="_blank" rel="noopener" href="https://www.businessinsider.com/taylor-swift-leann-rimes-concert-fan-loyalty-2024-11">began in her own fangirl days</a>.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-today-btc-90000-donald-trump-election-crypto-policies-2024-11">Bitcoin approaches $90,000</a> as post-election record streak rages on.</li><li>Apple Vision Pro's killer app is actually <a target="_blank" href="https://www.businessinsider.com/apple-vision-pro-killer-app-2024-11">just working on your laptop</a>?</li><li>This map shows how young Americans are <a target="_blank" rel="noopener noreferrer" href="https://l.businessinsider.com/a/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=07fda258e0bc460c8694aed78b1aa74d&amp;_e=cNzM3MDu-tRH4Hxe6UMoLJCcxG4HzzAaSmuTWGQNUtMA_nzjVjo7fu4JPuOaZdXnRfJNer34Z7N06liv1sKXGIH1k8A4edQAhuP16-LAruvhGI8I6PsSCUl_hRqvJv1AQszMSKOfoN4Gn2XCBJrhLrFFepplbn2BzpQup6l124GViBTL6pllAZ7jeS7wMuuobYZlhjXWL9N-uCoNkPZtx6JrdfYqaCllNEfQ9y5TnUfAkGBTZuuw8UqgAr6h2GFjC41U5oSeSCTfFnhxtmlHmkW_SZQdLOCT3ro-ciZZDea7tF10PUX7P9TclZO-a28bZ4R_HVKrD3bzlVi4qk59cVFQ34JWOCRZMju-Pl7GkDcf7QMV1ldxz_cauXs9BLwSKGFQ8Sdiq1Vqf9Xf631ZtIvGfwRolGzQ9xT7ceUAjI3sqPzkL2Mk5g11h955VD_n87R06dPh1ZQwjri5UwR41bjSaMntJwnSrygD0i4wSnHg7tj-W5tjauYaFeBwRZ2H">flocking to smaller towns</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Photo illustration of Cathie Wood" height="1875" width="2500" msid="115261960" hostid="261" sizebytes="294662"></div><div type="image" title="Dice with the faces of Trump, Musk, RFK, and Zelensky" height="1500" width="2000" msid="115261965" hostid="261" sizebytes="103426"></div><ol><li>Cathie Wood's next big bet is on shaking up the VC market. The investor previously grabbed attention for making bold calls on tech stocks that generated returns that boomed or busted. One of the key executives behind her venture capital strategy <a target="_blank" href="https://www.businessinsider.com/ark-venture-fund-cathie-wood-ai-2024-10">detailed the firm's approach to getting in on high-growth startups</a>.</li><li>Goldman Sachs' newest royalty shares how they celebrated the career milestone. The bank announced its largest partner class — 95 people — under CEO David Solomon. Nine new members of the group described their reactions to BI, from quiet reflection to jubilant celebrations with their team. Here's how they celebrated, <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-partner-promotions-how-they-celebrated-2024-11">in their own words</a>.</li><li>Trump's big plans for the oil industry might not be possible. ExxonMobil CEO Darren Woods said the market is well supplied with oil and <a target="_blank" href="https://www.businessinsider.com/trump-lower-gas-prices-exxonmobil-ceo-oil-boom-2024-11">there's not much of an opportunity to up production in the near term</a>. Energy analysts also said oil majors are focused on returning money to shareholders rather than investing in projects that'll boost production.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="A Make America Great Again hat draped over a computer" height="1500" width="2000" msid="115261964" hostid="261" sizebytes="329030"></div><ol><li>Silicon Valley's getting redder, and it's not just the billionaire backers. In the three Bay Area counties that make up the epicenter of America's tech hub, Donald Trump made small but significant gains with voters. Though the valley is still a long way from a Republican majority, <a target="_blank" href="https://www.businessinsider.com/silicon-valley-swing-toward-trump-voting-data-2024-11">the data shows a clear shift toward Trump</a> over the past three elections.</li><li>A chip match made in heaven. Amazon Web Services is negotiating <a target="_blank" href="https://www.businessinsider.com/aws-negotiating-huge-cloud-deal-supply-ibm-with-nvidia-gpus-2024-11">a huge deal to supply IBM with Nvidia GPUs via its cloud</a>, according to an internal document obtained by BI. The potential deal could expand the partnership between IBM and AWS in the AI space.</li><li>Intel is struggling to become America's chipmaking powerhouse. US officials are counting on Intel to lead the country's chip manufacturing resistance. Strategic missteps, layoffs, and the company's worst quarter ever contributed to <a target="_blank" href="https://www.businessinsider.com/intel-chip-troubles-problem-us-economy-domestic-production-chips-act-2024-11">a perfect storm that slowed progress</a>.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Elon Musk on Trump/Vance platform cheering" height="4240" width="6376" msid="115261966" hostid="261" sizebytes="747846"></div><ol><li>It's official: Elon Musk has a role in Trump's future administration. Musk and businessman Vivek Ramaswamy are set to <a target="_blank" rel="noopener" href="https://www.businessinsider.com/trump-elon-musk-vivek-ramaswamy-department-government-efficiency-doge-2024-11">lead a new Department of Government Efficiency — "DOGE" — under the president-elect</a>. In a statement on Tuesday, Trump said Musk and Ramaswamy "will pave the way for my Administration to dismantle the Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies."</li><li>TikTok ramped up hiring of Chinese employees even amid national security concerns. According to US Immigration Services data, TikTok and its owner ByteDance <a target="_blank" href="https://www.businessinsider.com/tiktok-ramped-up-hiring-chinese-employees-amid-us-political-scrutiny-2024-11">hired more than 600 Chinese staff on US H-1B visas in 2023</a>, a 50% increase from the previous year. The new hires came as members of Congress worried the platform could be compelled to hand over US user data to the Chinese government.</li><li>Not For Sale: new homes. America has the most new homes since 2009, but good luck trying to buy one. Both builders and buyers find themselves in a tricky position, and the demand for rentals is strong. That means a sizable chunk of America's home supply may never be sold to prospective homeowners — <a target="_blank" href="https://www.businessinsider.com/homebuilders-new-construction-rental-homes-investors-price-cuts-mortgage-rates-2024-11">and some opportunistic investors are about to win big</a>.</li></ol><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>President Joe Biden hosts President-elect Donald Trump at the White House.</li><li>US Supreme Court hears Nvidia securities fraud pleading standard case.</li><li>Bureau of Labor Statistics releases CPI data for October.</li><li>Senate Republicans hold vote to select new majority leader.</li><li>Cisco and other companies report earnings.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Grace Lett, editor, in Chicago. Ella Hopkins, associate editor, in London. Hallam Bullock, senior editor, in London. Amanda Yen, fellow, in New York. Milan Sehmbi, fellow, in London.

Saudi Arabia's futuristic city just faced another setback, but the country still has its eyes on being an AI leader

<ul class="summary-list"><li>Elon Musk's SpaceX has warned employees not to travel to Brazil for work or personal reasons.</li><li>Non-Brazilian employees are also being relocated from the country, according to reports.</li></ul>Elon Musk's other companies are getting swept up in his escalating <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-brazil-x-ban-feud-content-moderation-free-speech-2024-9">feud with a Brazilian judge</a> over X.SpaceX has warned its employees not to travel to Brazil for either work or personal reasons, according to an internal email seen by <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-09-04/spacex-warns-employees-not-to-travel-to-brazil-amid-musk-fight?srnd=phx-latest">Bloomberg</a>.In the email, which was sent at the end of last week, SpaceX President Gwynne Shotwell wrote to employees to "convey the seriousness of this situation" and told them to "avoid any travel — for work or personal reasons — to Brazil."SpaceX is also attempting to relocate its few non-Brazilian employees who work in the country, <a target="_blank" class="" href="https://www.wsj.com/business/telecom/spacex-brazil-elon-musk-supreme-court-2acb87e3">The Wall Street Journal </a>reported.Reports did not specify what risk SpaceX believed its employees faced in Brazil, but the move comes as the clash between Elon Musk and the nation's Supreme Court <a target="_blank" class="" href="https://www.businessinsider.com/brazil-starlink-sanctions-amid-feud-elon-musk-x-2024-9#:~:text=It's%20the%20latest%20escalation%20in,fines%20that%20currently%20exceed%20%243">continues to intensify</a>.On the weekend, Brazil's Supreme Court upheld a decision by one of its members, Justice Alexandre de Moraes, to suspend access to the billionaire's social media platform X.Moraes said X had failed to comply with court orders about content moderation and refused to pay fines exceeding $3 million.The social media platform had not appointed a new legal representative to respond to government requests about removing content supporting <a target="_blank" class="" href="https://www.businessinsider.com/supporters-of-brazils-former-president-jair-bolsonaro-storm-congress-2023-1">former Brazilian President Jair Bolsonaro</a>.Moraes has headed efforts to crack down on "fake news," including tightening free speech regulations, since 2019, when he opened an investigation into disinformation generated during Bolsonaro's government.He issued an order to ban certain X accounts that helped spread election misinformation in April, which Musk <a target="_blank" class="" href="https://x.com/elonmusk/status/1776989005848207503">vocally opposed</a>.<div type="image" title="Brazil's Justice Minister Alexandre de Moraes leaves the Justice Palace in Brasilia, Brazil February 6, 2017. REUTERS/Adriano Machado" height="524" width="799" msid="113095705" hostid="261" sizebytes="21742"></div>The billionaire has <a target="_blank" class="" href="https://x.com/elonmusk/status/1829308905177956551">taken to X</a> to lambast Moraes, calling him "an evil dictator cosplaying as a judge."Brazil's court has also taken action against Starlink, the satellite internet service owned by SpaceX that provides connectivity to over 200,000 Brazilian customers.Starlink's bank accounts have been frozen, and the company has been prevented from conducting financial transactions in Brazil.Starlink said in <a target="_blank" class="" href="https://x.com/Starlink/status/1831053118265843722">a post on X</a> that it was doing everything possible to keep customers in Brazil connected and had begun legal proceedings in the Brazilian Supreme Court to reverse the sanctions."We continue to pursue all legal avenues, as are others who agree that @alexandre's recent orders violate the Brazilian constitution," the company said.The social media company Telegram was also banned in Brazil last year for failing to cooperate with requests to block certain profiles.SpaceX did not immediately respond to a request for comment from Business Insider, made outside regular US working hours.

SpaceX tells employees not to travel to Brazil, as Elon Musk's fight with its Supreme Court over X intensifies

Defending its 2019 law criminalising <keyword id="20415107" type="General" weightage="100" keywordseo="triple-talaq" source="keywords">triple talaq</keyword>, the Centre has told the <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords">Supreme Court</keyword> that the practice is "fatal" for the social institution of <keyword id="19896575" type="General" weightage="20" keywordseo="marriage" source="keywords">marriage</keyword>. In an affidavit filed in response to petitions challenging the law, the Union of India said despite the top court setting aside the practice in 2017, it has "not worked as a sufficient deterrent in bringing down the number of divorces by this practice" among the members of the community. "It is submitted that Parliament in its wisdom has enacted the impugned Act to protect the rights of married <keyword id="19943278" type="General" weightage="20" keywordseo="Muslim-women" source="keywords">Muslim women</keyword> who are being divorced by triple talaq. "The impugned Act helps in ensuring the larger constitutional goals of <keyword id="20809677" type="General" weightage="20" keywordseo="gender-justice" source="keywords">gender justice</keyword> and <keyword id="20250318" type="General" weightage="20" keywordseo="gender-equality" source="keywords">gender equality</keyword> of married Muslim women and helps subserve their fundamental rights of non-discrimination and empowerment," the affidavit said. On 22 August 2017, the <keyword id="19936355" type="General" weightage="20" keywordseo="apex-court" source="keywords">apex court</keyword> had declared instant triple talaq (talaq-e-biddah) unconstitutional. On August 23, 2019, the top court agreed to examine the validity of the Muslim Women (Protection of Rights on Marriage) Act, 2019. Violation of the law entails imprisonment of up to three years. Two Muslim organisations -- <keyword id="22278513" type="General" weightage="20" keywordseo="Jamiat-Ulama-I-Hind" source="keywords" meta.keywordsubtype="org" meta.entityname="Jamiat Ulama-I-Hind" meta.hostid="261" meta.entityid="Jamiat Ulama-I-Hind">Jamiat Ulama-I-Hind</keyword> and Samastha Kerala Jamiathul Ulema -- have urged the court to declare the law "unconstitutional". Jamiat claimed in its petition that "criminalising a mode of <keyword id="19911325" type="General" weightage="20" keywordseo="divorce" source="keywords">divorce</keyword> in one particular religion while keeping the subject of marriage and divorce in other religions only within the purview of civil law, leads to discrimination, which is not in conformity with the mandate of Article 15".

You Searched For "Supreme Being" and got 9 results

A Karnataka woman is being ridiculed for demanding an alimony of Rs 6 lakh monthly from her ex. Is this fair?

BI India Bureau

Musk's X paid $5 million in fines to the wrong bank, Brazil's Supreme Court said

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AAP to announce New Delhi CM's name at 12 noon today

ANI

A contested election that leads to weeks of uncertainty is a risk being overlooked by markets

Filip De Mott

SC to hear plea related to insolvency proceedings against ed-tech firm Byju's on Sept 17

PTI

Supreme Court agrees to list plea related to insolvency proceedings against ed-tech firm Byju's

PTI

Saudi Arabia's futuristic city just faced another setback, but the country still has its eyes on being an AI leader

Dan DeFrancesco

SpaceX tells employees not to travel to Brazil, as Elon Musk's fight with its Supreme Court over X intensifies

Polly Thompson

Centre defends 2019 law on triple talaq in SC, says practice 'fatal' for marriage

PTI

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