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<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back! The fast-moving, big business of weight-loss drugs is already shifting to its next stage. Here's a rundown of <a target="_blank" href="https://www.businessinsider.com/upcoming-glp1-weight-loss-drugs-to-watch-2024-11">five upcoming pills and injections</a> to keep an eye on.In today's big story, Microsoft's massive bet on AI with Copilot <a target="_blank" href="https://businessinsider.com/microsoft-ai-artificial-intelligence-bet-doubts-marc-benioff-satya-nadella-2024-11">has yet to live up to the hype</a>, potentially raising alarms for everyone else investing in the space.What's on deck:<ul><li>Markets: You can still bet on politics <a target="_blank" href="https://www.businessinsider.com/top-political-prediction-bets-trump-2028-nominees-election-kalshi-polymarket-2024-11">even though the election is over</a>.</li><li>Tech: Why the Trump-Musk relationship is unlike anything <a target="_blank" href="https://www.businessinsider.com/elon-musk-donald-trump-elected-shadow-president-2024-11">we've ever seen in US politics</a>.</li><li>Business: Spirit Airlines has filed for Chapter 11 bankruptcy protection, but <a target="_blank" rel="noopener" href="https://www.businessinsider.com/spirit-airlines-chapter-11-bankruptcy-restructure-low-cost-airlines-2024-11">tells customers it'll keep flying</a>.</li></ul>But first, is this thing even worth it?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 Copilot conundrum</h2><div type="image" title="Microsoft logo glitching" height="1000" width="1334" msid="115423174" hostid="261" sizebytes="160900"></div>Microsoft's challenges with its flagship AI product could be another red flag for an industry with high hopes for the tech.Business Insider's Ashley Stewart, our resident Microsoft expert, has a deep dive on Copilot <a target="_blank" href="https://www.businessinsider.com/microsoft-ai-artificial-intelligence-bet-doubts-marc-benioff-satya-nadella-2024-11">coming up short on the big expectations laid out for it</a> when it launched over a year ago.CEO Satya Nadella didn't hold back initially, describing Copilot as something that would "fundamentally transform our relationship with technology" when it was unveiled.But internally and among clients, that doesn't always feel like the case. One Microsoft executive told Ashley that Copilot offers useful results about 10% of the time."The rest of the time it's: Why do we even try?" they said.It's an unsettling realization considering the stakes of AI. Many companies — and arguably the entire US stock market — are banking on generative AI being revolutionary. And while Microsoft's bet on AI dwarfs almost everyone else's, its hangup with the tech is something a company of any size can relate to: Is this stuff worth it?It's also not the only challenge the generative AI space is navigating.Reports about OpenAI's newest AI model struggling to show big improvements raised questions about the <a target="_blank" href="https://www.businessinsider.com/openai-orion-model-scaling-law-silicon-valley-chatgpt-2024-11">tech hitting a performance wall</a>. CEO Sam Altman appeared to address it with a cryptic tweet: "<a target="_blank" href="https://www.businessinsider.com/sam-altman-ai-wall-slowdown-openai-2024-11">there is no wall</a>."Still, it's feeding concerns about the timeline for artificial general intelligence. AGI is the concept that autonomous computer systems outperform humans at most economically valuable work, but it appears <a target="_blank" href="https://www.businessinsider.com/agi-predictions-looking-stretched-openai-sam-altman-google-ai-2024-11">harder to achieve than previously anticipated</a>, writes BI's Alistair Barr.<div type="image" title="AI robot hand gripping a time bomb, displaying a countdown timer set to expire in 2025" height="1500" width="2000" msid="115423171" hostid="261" sizebytes="122298"></div>The counterargument is straightforward: It's still the early innings.Microsoft is adamant its Copilot investment is already paying off. Jared Spataro, a vice president of marketing for Microsoft 365, pointed Ashley to Copilot success stories like Lumen Technologies, which projects $50 million in annual savings from its sales team's use of Copilot.Some customers aren't necessarily worried either, as they continue to plow money into AI. A Flexera survey found OpenAI ranked fourth among vendors that IT leaders plan to <a target="_blank" href="https://www.businessinsider.com/openai-top-vendor-it-leaders-2024-11">spend the most with next year</a>.But tech players won't have forever to figure things out. Earlier this year, analysts at Barclays highlighted an under-the-radar risk to AI bets: <a target="_blank" href="https://markets.businessinsider.com/news/stocks/ai-stocks-risk-nvidia-gpus-blackwell-tech-outlook-depreciation-accounting-2024-8">the depreciation costs related to AI chips</a>. As firms look to stock up on GPUs, they run the risk of the tech no longer being relevant as new iterations emerge.And then there's the possibility of internal drama. Ashley previously reported on <a target="_blank" href="https://www.businessinsider.com/microsoft-pay-data-shows-how-much-more-ai-workers-make-2024-8">the pay disparity at Microsoft</a> between AI-focused employees and everyone else."AI is great and it might be the future, but when are you going to focus on your billpayers?" one employee told Ashley.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Meet the top four candidates Trump is <a target="_blank" rel="noopener" href="https://www.businessinsider.com/trump-treasury-kevin-warsh-marc-rowan-howard-lutnick-scott-bessent-2024-11">considering for Secretary of the Treasury</a>.</li><li>Biden authorizes Ukraine to use powerful ATACMS to strike inside Russia. The move is a <a target="_blank" rel="noopener" href="https://www.businessinsider.com/biden-ukraine-russia-atacms-authorization-2024-11">significant shift in US policy</a>.</li><li>Trump, Musk, and new cabinet picks celebrate election victory with <a target="_blank" rel="noopener" href="https://www.businessinsider.com/trump-musk-celebrate-election-victory-ufc-309-cabinet-picks-2024-11">surprise appearance at UFC</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Photo illustration of judge's gavel on colorfulbackground" height="960" width="1920" msid="115423175" hostid="261" sizebytes="501366"></div><ol><li>A lawsuit about trade secrets has a corner of Wall Street's data industry enthralled. Yipit, a Carlyle-backed provider of credit-card data, filed a lawsuit accusing two former salespeople of <a target="_blank" href="https://www.businessinsider.com/inside-yipits-lawsuit-against-2-former-employees-who-joined-mscience-2024-11">stealing intellectual property to use in their new roles at rival MScience</a>. The suit has the attention of the young, fiercely competitive industry that sells non-traditional data to investors looking for an edge.</li><li>Just because the election is over doesn't mean you need to stop betting on politics. Who will be the Republican nominee in 2028? Will Matt Gaetz be confirmed as attorney general? Will Trump create a national Bitcoin reserve? The prediction markets <a target="_blank" href="https://www.businessinsider.com/top-political-prediction-bets-trump-2028-nominees-election-kalshi-polymarket-2024-11">have plenty of political outcomes</a> to scratch your gambling itch.</li><li>It's giving the year 2000 for one legendary investor. Rob Arnott compared the current market to the dot-com peak in 2000. Arnott told BI <a target="_blank" href="https://www.businessinsider.com/stock-market-crash-rob-arnott-warns-bear-market-tech-bubble-2024-11">why a bear market could be forthcoming in the next couple of years</a> thanks to high valuations and AI optimism that is largely priced in.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Elon Musk" height="900" width="1200" msid="115423177" hostid="261" sizebytes="159876"></div><ol><li>Elon Musk's incredible hold on US politics. Politics and money have always been intertwined, but the current relationship between the world's richest man and the president-elect is unprecedented. The result is Musk <a target="_blank" href="https://www.businessinsider.com/elon-musk-donald-trump-elected-shadow-president-2024-11">acting almost as a shadow president</a>.</li><li>A potential Trump trade plan beneficiary: US semiconductor jobs. If Trump's proposed trade plan is enacted, the American semiconductor industry could see hiring growth. Industry experts told BI that tariffs on foreign-made chips <a target="_blank" href="https://www.businessinsider.com/trumps-tariffs-chips-could-create-more-american-jobs-increase-prices-2024-11">could help level the playing field for US chipmakers</a>, which have faced tough competition from their global counterparts.</li><li>The OpenAI mafia swells its ranks. Nearly two dozen former employees have left the AI juggernaut and founded startups of their own. The latest defectors include OpenAI cofounder and former chief scientist Ilya Sutskever and former chief technology officer Mira Murati. <a target="_blank" href="https://www.businessinsider.com/former-openai-employees-who-left-launch-vc-backed-ai-startups-2024-1">See what they're up to now</a>.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="A $100 bill on top of a house" height="1500" width="1992" msid="115423179" hostid="261" sizebytes="339688"></div><ol><li>Four ways Trump's housing plans could hurt homebuyers and three ways it could help. Trump promised to make housing more affordable in part by deporting millions of immigrants, slashing construction regulations, and building houses on federal land. <a target="_blank" href="https://www.businessinsider.com/trump-high-home-prices-housing-mortgage-rates-deregulation-tariffs-immigration-2024-11">Here's how experts think that would actually pan out</a>.</li><li>Spirit Airlines has filed for Chapter 11 bankruptcy protection. The budget airline has struggled since a planned merger with JetBlue was called off in March. In an open letter to customers, it said people can continue to book tickets and fly as normal as it <a target="_blank" rel="noopener" href="https://www.businessinsider.com/spirit-airlines-chapter-11-bankruptcy-restructure-low-cost-airlines-2024-11">undergoes financial restructuring</a>.</li><li>Walmart might be just fine under Trump's proposed trade plan. Target, not so much. As America's grocery king, Walmart US makes nearly 60% of its revenue from groceries, which are predominantly domestic. But Target often relies on imported merchandise, such as apparel and beauty. <a target="_blank" href="https://www.businessinsider.com/target-walmart-trump-tariffs-exposure-analysts-2024-11">Walmart also has another key advantage: scale</a>.</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>Disney CEO Bob Iger is moving to cement his legacy <a target="_blank" href="https://www.businessinsider.com/bob-iger-disney-earnings-guidance-succession-legacy-chapek-media-analysis-2024-11">by undoing his biggest mistake</a>.</li><li>Shoppers and businesses are <a target="_blank" rel="noopener" href="https://l.businessinsider.com/a/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=c30b8703d160410398dd34e9584c94a3&amp;_e=i25E5ONB4tMiXtE06VeSaaFdC9RBeKEf6Am3QwaEcB2E4JdSqnDqmYr-387ig-ruhUxPoPCaat-voaDbfD_6S9r_lRX7w-hriYUuLZLf0oBVVklUgTGSC4rQQEsaV2VrmBmyEJBbhb5t_4ii9kzf5mGNs24JHBU4kD2t77qvgLde0_hccfFyZJGyX-HSEOcVt3hm2j3fy4fJUboGG4PKvgV09z0iPgS9Sd9YYBa5vfJF0tPkg6nqTPSf_-4F-a8aB1csTjQJYq2n-O1Ho511puOlxNeZs4WzL5ZST0WJkZqjescVMWVojaLY68-GnLbrAONhAtYwR4sRYyo_gVAswrtOyO2OjgTQ7GPu_kEO5SvlrvfmHChZsIOFVxvPWR7cGcH5q-QsclhVCpi1tyVirT8OKMZUsBjylVY0fJJZOSkOO4NwglFhyDOfQDrbf0_ErXhpUTPhEJeNs9bRlNwOVGxCBs2oCYN7T81FPiuSVJw%3D">stockpiling to avoid potential price hikes</a> before Trump takes office.</li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>G20 summit begins in Rio de Janeiro.</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.

Microsoft Copilot's underperformance is the latest red flag for investments in AI

Reliance Industries, Titan, Ambuja Cement and other stocks to watch out for on April 30

<ul><li>RBI fined Axis Bank ₹30 million for fudging accounts during Sharma’s tenure as Axis Bank chief. </li><li>RBI asked Axis Bank to reconsider extending Shikha Sharma’s tenure urging a review. </li><li>Sharma is now an independent director at four companies-- Tech Mahindra, Dr Reddy’s Labs, <keyword id="148911" type="COMPANY" weightage="20" keywordseo="Tata-Global-Beverages">Tata Global Beverages</keyword> (which operates Starbucks chain in India) and Ambuja Cement.</li></ul> It is very uncharacteristic of Reserve Bank of India (RBI) to give ‘advice’ to banks on their leadership. But last year, it<a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/reconsider-shikha-sharmas-4th-term-rbi-to-axis-board/articleshow/63573435.cms"> did ask the</a> country’s third largest private bank to ‘reconsider’ extending their then CEO Shikha Sharma’s tenure. After her exit , the stock of Axis Bank has gained over 48% in the last one year. Since she left the bank last December, Sharma isn’t sitting home reading Mills &amp; Boons, her favourite <a href="https://www.business-standard.com/article/opinion/lunch-with-bs-shikha-sharma-110021600095_1.html">pastime</a>. She is now an independent director at four companies, and the latest to add her is IT major Tech Mahindra after Dr Reddy’s Labs, Tata Global Beverages (which operates Starbucks chain in India) and Ambuja Cement. Private Equity firm KKR appointed her as an adviser for their alternate investments. This is very good progress for someone who claims to have a<a href="https://www.business-standard.com/article/opinion/lunch-with-bs-shikha-sharma-110021600095_1.html"> ‘permanent inability to sell herself’</a>. This trait kept her away from landing a job on the very first day of recruitment at IIM Ahmedabad. The Benefit of Friends Yet, Sharma has many high-profile friends in the system. She had worked with Kalpana Morparia, the CEO of J P Morgan at ICICI, who is a part of Nomination and Remuneration Committee (NRC) at pharma major Dr Reddy’s Labs. The company also has former Tata Power Managing Director Prasad Menon who was a part of Axis Bank board of directors until recently. She is also part of the board of Tata Global Beverages, which operates Starbucks chain in India. An independent banking analyst Hemindra wrote a report questioning the corporate governance practices of companies which have employed her. “The irony of publicly owned and listed blue-chip companies eagerly seeking Sharma for the prestigious position of independent director on their boards is that she had a poor track record and an unceremonious exit as chief executive officer of Axis Bank,” said a report by banking analyst Hemindra, who wrote a report on her. However, companies have defended their decision to have Sharma on board. Tech Mahindra’s statement on June 14 said, “She has rich experience in banking, insurance and an excellent track record and led the bank on a transformative journey from being primarily a corporate lender to a bank with a strong retail deposit franchise and a balanced lending book.” Hazari disagrees with Tech Mahindra’s take. Though her stint at ICICI-- her first job since she was recruited from Indian Institute of Management (IIM) -- had many successes including building the India’s largest private sector bank’s insurance business, her leadership at Axis Bank had a lot left to desire. E-mails sent to Tech Mahindra, Dr Reddy’s Labs and Tata Global Beverages did not elicit any response, while Sharma did not respond to a request for a call. The Cover-up Sharma’s plan for growth at Axis Bank’ was to increase large-sized corporate lending, that included a bunch of loans to infrastructure companies. Like all bad plans, it worked until it didn’t. The unrelenting chase for growth landed them in a bad soup with a large chunk <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/boxing-on-or-boxed-in-indian-banks-are-splintering-gadfly/articleshow/59788487.cms">of toxic loans</a>. What angered investors and the regulator alike is how the bank tried to sweep it under the carpet. So much so, the banking regulator Reserve Bank of India (RBI) <a href="https://www.businesstoday.in/current/economy-politics/rbi-penalises-axis-bank-indian-overseas-bank-non-compliance/story/271996.html">had fined them</a>-- even though a measly ₹30 million-- for fudging accounts. The regulator’s version of their non-performing loans is 156% higher than what was admitted by the bank in the year 2016-17. Right after demonetization in 2016, the Enforcement Directorate unearthed a scam where<a href="https://timesofindia.indiatimes.com/business/india-business/demonetisation-case-ed-files-first-chargesheet-involving-axis-bank-staff/articleshow/56959891.cms"> Axis Bank staff</a> was passing on unaccounted money into the system. According to Hazari, these are due to poor operational risk controls and other lapses which were prevalent in the bank. He also said that the bank <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/ex-axis-bank-executive-alleges-wrongful-termination/articleshow/49283008.cms" data-type="tilCustomLink" target="_blank">persecuted whistleblowers with draconian clauses</a>, which can terminate an employee without giving any reason. “Incorporating such harsh measures effectively silences any honest banker from complaining against any regulatory lapses which could disrupt the growth of business,” Hazari said. It is within any company’s legal right to appoint anyone as an independent director. What experts like Hazari are questioning is the level of trust such boards can evoke when they appoint those whom regulators have recently shunned. SEE ALSO: <a href="https://www.businessinsider.in/indusind-bank-ubs-downgrade-drags-stock-down-over-7/articleshow/69770393.cms" data-type="tilCustomLink" target="_blank">Investors lose over $600 million in a day in one stock as the management was more optimistic than cautious</a> <a href="https://www.businessinsider.in/kotak-mahindra-bank-share-price-top-losers-on-the-nifty-after-rbi-fine-on-uday-kotak/articleshow/69721330.cms" data-type="tilCustomLink" target="_blank">Kotak Mahindra Bank has lost nearly half a billion dollars in market cap after the billionaire promoter was fined by the RBI</a> <a href="https://www.businessinsider.in/indusind-bank-bad-loan-impact-from-ilfs-crisis/articleshow/69557477.cms" data-type="tilCustomLink" target="_blank">An Indian bank is still making the same mistake of hiding the worst and hoping for the best</a>

RBI may have wanted her out of Axis Bank but Starbucks partner Tata Global Beverages is among four companies which brought Shikha Sharma on-board

<ul class="summary-list"><li>Fifty years ago in June, <keyword id="12736806" type="UNKNOWN" weightage="60" keywordseo="title-ix" source="Orion">Title IX</keyword> changed the <keyword id="11893855" type="UNKNOWN" weightage="100" keywordseo="sports" source="Orion">sports</keyword> landscape forever.</li><li>37 words opened the floodgates for women's athletics to flourish across America and beyond.</li></ul>It's been 50 years since 37 words changed the sports landscape forever.Buried deep in the hundreds of pages of the United States Congress' Education Amendments of 1972, Title IX prohibited sex discrimination in educational institutions that receive funding from the federal government. Those seemingly inconsequential 37 words opened the floodgates for women's athletics to flourish across America and laid the groundwork for some of the most memorable moments in sports.Now, half a century after Title IX was codified into law, <keyword id="12127526" type="UNKNOWN" weightage="60" keywordseo="sports-illustrated" source="Orion">Sports Illustrated</keyword> is paying homage to the landmark legislation with an issue devoted to all of the feats made possible because of Title IX.<div type="image" title="The cover of Sports Illustrated's Title IX issue." height="3225" width="2475" msid="91670523" hostid="261"></div>The cover, shown above, features some of the best-known titans of <keyword id="11896034" type="UNKNOWN" weightage="60" keywordseo="womens-sports" source="Orion">women's sports</keyword>: Billie Jean King, Simone Biles, Serena Williams, Dawn Staley, Pat Summit, Allyson Felix, Mo-Ne Davis, and more. But notably, the user-generated illustration, assembled by graphic designer Gabriela Bury, also includes photos of everyday athletes who owe their involvement in organized sports to those 37 words.Inside the June issue, readers can find retrospectives on the legislation's impact and the trailblazers, who cemented its role in transforming the sports landscape; portraits of modern-day stars; analyses of the next frontiers of gender <keyword id="11956146" type="UNKNOWN" weightage="60" keywordseo="equality" source="Orion">equality</keyword> in sports; and a first-person essay from Big East Commissioner Val Ackerman on the significance of Title IX.

Sports Illustrated's latest issue pays homage to sports moments made possible because of Title IX

<ul><li>At 7:40 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to see a slow start on Friday, led by positive cues from the global markets. At 7:40 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50. The US stocks closed mixed on Thursday amid disappointing economic data and slowed stimulus progress. The Dow Jones Industrial Average closed 0.23% lower, and the Nasdaq Composite was up 66 points. These are the stocks to watch out for during the trading session today: TVS Motor The members of the $8.5 billion TVS family decided to restructure the ownership of various companies, a measure which does not involve payment of brand royalty to the family members or their holding companies. The share price of TVS Motor closed 0.42% lower on Thursday. IRCTC The offer-for-sale for the Indian Railway Catering and Tourism Corp (IRCTC) was subscribed nearly two times on day by the non-retail investors. The retail investors will get a chance to bid for IRCTC offer-for-sale (OFS) today. The government is planning to sell up to 20% stake in IRCTC through OFS which opened for subscription on Thursday. The share price of IRCTC closed 12% lower on Thursday. HDFC Bank The private lender HDFC Bank informed exchanges that the Reserve Bank of India (RBI) had imposed a monetary penalty of ₹10 lakh on the bank for bouncing of subsidiary general ledger (SGL). This led to a shortage of balance in certain securities in the Bank’s CSGL account on November 19, it said. The share price of HDFC Bank closed 2% lower on Thursday. Dalmia Bharat, UltraTech Cement, ACC, Ambuja Cements and Shree Cement According to <a href="https://www.livemint.com/news/india/cci-searches-offices-of-major-cement-cos-11607621552574.html">reports</a>, the Competition Commission of India (CCI) has conducted searches on the premises UltraTech Cement, ACC, Ambuja Cements, Dalmia Cement (Bharat) and Shree Cement, among others to find evidence of price collusion. United Spirits United Spirits, a part of global liquor giant Diageo appointed Hina Nagarajan as the company’s new CEO with effect from July 1, 2021. Incumbent Anand Kripalu will step down on June 30. The share price of United Spirits closed 2% higher on Thursday. TCS Tata Consultancy Services (TCS) said it plans to invest more than $100 million in Austin and hire 1,000 new employees across Texas. TCS has expanded its business operations in Austin, Texas with the construction of a new facility, doubling its presence to more than 400 professionals in the city and adding to its over 5,500 employees across the state. The share price of TCS closed 1% lower on Thursday. Mahindra &amp; Mahindra ICRA has reaffirmed Mahindra &amp; Mahindra rating of non-convertible debenture programme of ₹1,500 crore to stable. It has also assigned a stable rating to long-term loans worth ₹1,800 crore. The share price of Mahindra &amp; Mahindra closed 3% lower on Thursday. Canara Bank Canara Bank said it had approved the issue price at ₹103.50 per share for its qualified institutional placement (QIP) to raise ₹2,000 crore. Earlier this week, the bank had set the floor price for the issue at ₹103.50 apiece. The share price of Canara Bank closed 5% lower on Thursday. Jash Engineering The pump and pumping equipment manufacturing company, Jash Engineering received orders worth ₹20.65 crore in November. The share price of Jash Engineering closed 2% lower on Thursday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others

<ul><li>The 30-share BSE index was trading 296.95 points higher, and the broader NSE Nifty climbed 0.61% on Tuesday at 10:00 am.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indexes hit record highs on Tuesday, led by a rally in banks, airlines and hotel stocks, as investors cheered the progress in the development of a coronavirus vaccine. The 30-share BSE index was trading 296.95 points higher, and the broader NSE Nifty climbed 0.61% on Tuesday at 10:00 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech M </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj FinServ </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td></tr></tbody></table>*as of November 9, 9:57 am These are the top stocks in news today. Pfizer India shares zoom 19% Pfizer India shares gained over 19% a day after the company announced that <a href="https://www.businessinsider.in/science/health/news/pfizers-covid-19-vaccine-is-90-effective-in-preventing-coronavirus-in-those-who-havent-been-infected-ever-before/articleshow/79130097.cms">its COVID-19 vaccine</a> trial data suggests that its shots prevented more than 90% of symptomatic infection. This indicates the company is on track later this month to file an emergency use application with US regulators. <keyword id="6354706" type="DEFINITION" weightage="20" keywordseo="IndiGo">IndiGo</keyword> and <keyword id="6358032" type="CITY" weightage="20" keywordseo="SpiceJet">SpiceJet</keyword> gain on hopes of a COVID vaccine soon Air travel has been one of the hardest hit in the past 10 months, and now the hope of a COVID vaccine soon has brought a rally in the shares of the listed airline companies. IndiGo was trading 6% higher, whereas SpiceJet was up 4%. Inox Leisure trades 4% higher The shares of cinema giant Inox Leisure gained over 4% after it launched its qualified institutional placement (QIP) at ₹263.1 per share. The floor price is set at a 1.42% discount to Monday’s closing price. <keyword id="193491" type="CITY" weightage="20" keywordseo="JK-Cement">JK Cement</keyword> hits 52-week high; trades 4% higher The shares of JK Cement gained over 4%, hitting the 52-week high on the back of strong Q2 results. The company reported an almost three-fold jump in consolidated net profit to ₹221.55 crore for the second quarter ended September 30. <keyword id="1912283" type="COMPANY" weightage="20" keywordseo="Lemon-Tree-hotel">Lemon Tree Hotel</keyword>, <keyword id="6399185" type="UNKNOWN" weightage="20" keywordseo="indian-hotels">Indian Hotels</keyword>, EIH and other hospitality stocks rally Lemon Tree Hotel, Indian Hotels, EIH and other hospitality stocks rallied after positive COVID vaccine news. Lemon Tree Hotel was trading 6% higher, Indian Hotels was up 8%, and EIH gained 5%, during the early trading hours on Tuesday. SEE ALSO: <a href="https://www.businessinsider.in/politics/india/news/checkout-here-bihar-assembly-election-2020-results-and-updates-online/articleshow/79142084.cms" data-type="tilCustomLink">Bihar Election Results 2020: Counting of votes begin, early trends indicate the Grand Alliance edging ahead of the JDU</a> <a href="https://www.businessinsider.in/tech/news/google-will-be-probed-by-indias-competition-commission-for-allegedly-abusing-dominance-to-push-gpay/articleshow/79141895.cms" data-type="tilCustomLink">Google will be probed by India’s Competition Commission for allegedly ‘abusing dominance’ to push its payments app</a> <a href="https://www.businessinsider.in/science/health/news/pfizers-covid-19-vaccine-is-90-effective-in-preventing-coronavirus-in-those-who-havent-been-infected-ever-before/articleshow/79130097.cms">Pfizer’s COVID-19 vaccine is 90% effective in preventing coronavirus in those who haven’t been infected ever before, shows data from latest trials</a>

Top stock movers — Pfizer, Tech Mahindra, HCL Tech, TCS, Infosys, IndiGo, SpiceJet, JK Cement, Lemon Tree Hotel, Indian Hotels, and others

<keyword id="105382" type="COMPANY" weightage="100" keywordseo="Ambuja-Cements">Ambuja Cements</keyword> has received Rs 20 crore from <keyword id="6356830" type="CITY" weightage="100" keywordseo="Nestle-India">Nestle India</keyword> to burn packets of Maggi noodles. 
 
The two-minute noodles were found harmful after excess lead and MSG was found in the packets. Nestle India has withdrawn all Maggi packets from the market. 
 
A Nestle India spokesperson told news agency PTI that Gujarat Ambuja Cements was helping them to destroy the Maggi noodles being withdrawn by us from the market. 
 
“In addition to the value of stocks being destroyed there will be additional costs to take into account, for example bringing back stock from the market, transporting the stock to the destruction points and destruction cost etc,” the spokesperson told the news agency. 
 
Nestle India recently had informed that Maggi noodles worth Rs 320 crore will be destroyed as it was banned by FSSAI. 
 
(Image: Indiatimes)

Nestle is paying Ambuja Cements Rs 20cr to destroy thousands of Maggi packs

<ul class="summary-list"><li>The Twitter account Libs of <keyword id="11894125" type="UNKNOWN" weightage="60" keywordseo="tiktok" source="Orion">TikTok</keyword> was featured in a Washington Post article this week.</li><li>The account then announced it would offer paid subscriptions on <keyword id="11931414" type="UNKNOWN" weightage="60" keywordseo="substack" source="Orion">Substack</keyword>. </li></ul>Libs of TikTok, the influential Twitter account profiled this week in <a href="https://www.washingtonpost.com/technology/2022/04/19/libs-of-tiktok-right-wing-media/">The Washington Post</a>, announced on Tuesday that it would soon publish through the newsletter platform Substack. As detailed in the Post's report, written by columnist Taylor Lorenz, the account has amassed a sizable following on Twitter for reposting TikTok videos and other social-media posts, mostly from LGBTQ+ creators, in a way that evokes outrage among conservatives. The account has garnered the attention of high-profile right-wing publications and influencers, such as Fox News host <a href="https://video.foxnews.com/v/6304450725001#sp=show-clips">Tucker Carlson</a>, who have amplified its videos and cemented its importance in current conservative discourse, including the wave of <a href="https://www.insider.com/grooming-pedophile-disney-baseless-buzzword-conservatives-dont-say-gay-2022-4">anti-LGBTQ+ messaging</a> and <a href="https://www.businessinsider.com/florida-ron-desantis-dont-say-gay-bill-law-2022-3">legislation across the US</a>.Libs of TikTok's planned pivot to Substack is the latest instance of a controversial voice seeking shelter on the platform, which has so far opted for less moderation than other social platforms."The very point that Libs of TikTok is seeking to move to Substack is an indictment of Substack itself," Imran Ahmed, the founder and CEO of the Center for Countering Digital Hate, told Insider.<h2>Libs Of TikTok became the center of an online culture war</h2>Libs of TikTok is the product of Chaya Raichik, once a real estate agent from Brooklyn who under a different username posted about attending the January 6, 2021, pro-Trump riot at the US Capitol, the Post reported. Raichik established Libs of TikTok in April 2021, according to the Post, and it permeated mainstream media just a few months later after Joe Rogan mentioned it on his immensely popular podcast in August. The account has taken a strong stance against the LGBTQ+ community, even calling for out LGBTQ+ educators <a href="https://web.archive.org/web/20220306004129/https://twitter.com/libsoftiktok/status/1473787418041995266">to be fired</a> "on the spot." In November last year, it called the Trevor Project, a nonprofit that works to prevent suicide among LGBTQ+ youth, a "<a href="https://twitter.com/MattBinder/status/1516829759333969924">grooming organization</a>."At least one person whose video was featured on Libs Of TikTok received death threats and other attacks following the account posting their video, according to the Post.Libs of TikTok did not return Insider's request for comment Friday.The Washington Post report led to a wave of right-wing outrage, with conservative pundits decrying it for revealing the identity of the woman running the account, arguing the report had unfairly "<a href="https://www.theatlantic.com/technology/archive/2022/04/doxxing-meaning-libs-of-tiktok/629643/">doxxed</a>" the creator behind the account. These allegations largely ignored the account's popularity and influence — Libs of TikTok already had more than 600,000 followers at the time the Post published its report, and Raichik had anonymously appeared on Fox News and in other right-wing news outlets to talk about the account. The same day as the Post's report on Tuesday, Libs Of TikTok announced a forthcoming Substack with paid subscriptions as the account rapidly gained new Twitter followers."Lots of people have been asking how they can support me," the account tweeted after the article was published. "I started a substack &amp; will be posting some exclusive content for subscribers there. It's the best way to lend support and stay connected if I get banned from social media."As the Post noted in its report this week, the account has already been temporarily suspended from Twitter on two occasions for violating Twitter rules, and its account on TikTok was permanently banned for violating the company's community guidelines.<h2>Substack's growing <keyword id="11919168" type="UNKNOWN" weightage="60" keywordseo="misinformation" source="Orion">misinformation</keyword> problem</h2>Libs Of TikTok is one of several accounts that have moved to Substack after gaining a large following by publishing content that either violates or comes close to violating other platforms' content moderation policies. Anti-hate groups and writers have criticized Substack, which has comparatively lax policies on what is allowed on the platform, for profiting from harmful content.According to the <a href="https://www.counterhate.com/post/substack-generates-at-least-2-5-million-in-revenue-from-anti-vaccine-newsletters-per-year">Center for Countering Digital Hate</a>, Substack generated at least $2.5 million in a single year from five anti-vaccine movement influencers, including Alex Bernson, who was <a href="https://thehill.com/homenews/media/569908-twitter-bans-conservative-author-Alex-Berenson/">banned from Twitter</a> for spreading COVID-19 misinformation. According to the report, 90% of the revenue goes to the newsletter authors, while 10% goes to Substack.Some of the top posts in the <keyword id="11893346" type="UNKNOWN" weightage="100" keywordseo="politics" source="Orion">politics</keyword> category on Substack included misinformation related to COVID-19 vaccines, according to the Center for Countering Digital Hate, including one author who claimed "the vaccines kill more far more people than they might save from COVID." Substack has become the platform of choice for "hate actors," said Center for Countering Digital Hate CEO Ahmed, because the company and its leaders fail to enforce the rules and guidelines that it sets to keep the platform safe.<a href="https://substack.com/content">Those rules</a>, outlined in a November 21, 2021, post on its website, prohibit hateful content, which it outlies as "credible threats of physical harm" based on "race, ethnicity, national origin, religion, sex, gender identity, sexual orientation, age, disability or medical condition." "You can't have your cake and eat it too," Ahmed said. "You can't say you're going to do the right thing and then do exactly the opposite and still expect people to put praise on you for being a moral and good organization," he added.Substack defended its content moderation policies in a statement to Insider."We do not believe in censoring writers on the platform as long as they do not violate our terms, including content that might be offensive or wrong, or where we personally disagree with the views represented," a spokesperson for Substack said.Company leaders in the past have also doubled down on its seemingly unfettered commitment to allow "free speech," the principle that seems to drive the controversial voices to its platform."We believe that when you use censorship to silence certain voices or push them to another place, you don't make the misinformation problem disappear but you do make the mistrust problem worse," wrote Substack CEO Chris Best, and the platforms other cofounders Hamish McKenzie and Jairaj Sethi <a href="https://on.substack.com/p/society-has-a-trust-problem-more?s=r">in a joint blog post</a> in January. Several writers who joined Substack, including ones who scored lucrative deals luring them there, have ultimately opted to leave, citing its willingness to allow certain types of content they viewed as harmful.The literary scholar Grace Lavery <a href="http://www.gracelavery.org/leaving-substack/">left the platform in January</a>, also leaving behind a six-figure deal with the company, writing she no longer had "any faith that the executive team at Substack" would enforce its own terms of use related to the harassment of trans people.In June 2021, author Jude Doyle left the platform for the Substack rival Ghost, writing in a post they felt "Substack is tolerating and funding extreme trans-eliminationist rhetoric."And the poet Yanyi <a href="https://reading.yanyiii.com/the-freedom-of-hate/">announced he was leaving Substack</a> last year on Trans Visibility Day, writing that he decided to leave the platform after he decided "Substack has enabled and protected a writer like Graham Linehan to stay on their platform behind a claim of preserving journalistic ethics."Linehan, a British writer, in 2020 was permanently suspended by Twitter for repeated violations of policy against hateful conduct, <a href="https://www.theguardian.com/culture/2020/jun/27/twitter-closes-graham-linehan-account-after-trans-comment">The Guardian</a> reported. So far, the Libs of TikTok Substack has no content except for an "about" section featuring short testimonials in "praise" of the account from figures that include Rogan, conservative podcaster Matt Walsh, and the right-wing radio host Dan Bongino. An annual subscription costs users $50, and a monthly one costs $5. For a $500 fee, fans can become "founding members," for which Libs of TikTok promises the additional perk of "eternal gratitude." It's not clear what type of content Libs of TikTok will publish through the newsletter, and meanwhile, the account is still active on Twitter."I will never be silenced!" Libs of TikTok tweeted Tuesday, sending the message to its hundreds of thousands of followers.

Libs of TikTok is the latest right-wing star to court paid subscribers on Substack

<ul class="summary-list"><li>The <keyword id="834069" type="COMPANY" weightage="60" keywordseo="Affordable-Care-Act">Affordable Care Act</keyword>, known as ACA or <keyword id="6579869" type="PERSON" weightage="60" keywordseo="obamacare">Obamacare</keyword>, faced its latest test at the <keyword id="6354977" type="ORGANIZATION" weightage="60" keywordseo="Supreme-Court">Supreme Court</keyword> this week in a lawsuit brought by several Republican states and backed by the Trump administration.</li><li>The lawsuit said Obamacare should be struck down as unconstitutional, arguing that the so-called individual mandate was no longer workable and as a result the whole law should be invalidated.</li><li>Chief Justice John Roberts and Associate Justice Brett Kavanaugh appeared skeptical of the Trump administration's argument.</li><li>Both justices suggested that the individual mandate was severable from the rest of the law — in other words, that it could be struck down on its own while the remainder of the landmark healthcare legislation stayed intact.</li><li>Roberts voted in 2012 to uphold the ACA, and if he and Kavanaugh were to side with the court's three liberal justices this time, the ruling would leave Obamacare in place.</li></ul>The Supreme Court on Tuesday began weighing the latest challenge to the Affordable Care Act, known as the ACA or "Obamacare." It's the first major test for the law since President Donald Trump's nominee, Amy Coney Barrett, was confirmed to replace the late Justice Ruth Bader Ginsburg last month, cementing a 6-3 conservative majority on the high court.The justices heard two hours of oral arguments in their third review of the case, which would determine whether the Obama administration's landmark healthcare legislation, which provided health insurance to 20 million Americans, will stay intact. In previous rulings in 2012 and 2015, the Supreme Court decided to uphold the act.And on Tuesday, two conservative justices on the bench, Chief Justice John Roberts and Associate Justice Brett Kavanaugh, the latter of whom is also a Trump appointee, signaled the law may once again survive Republicans' latest effort to strike it down.Tuesday's case, brought forth by a slew of red states and led by Texas, was backed by the Trump administration. The lawsuit primarily argues that a key provision of Obamacare, known as the individual mandate, is unconstitutional, unjustifiable, and that as a result, the whole law should be thrown out.But Roberts and Kavanaugh seemed skeptical of the argument and suggested the individual mandate was severable; in other words, they said that specific provision could be struck down while the rest of the law remained intact."It's hard for you to argue that Congress intended for the entire act to fall if the mandate were struck down, when the same Congress that lowered the penalty to zero did not even try to repeal the rest of the act," Roberts, who cast the deciding vote to uphold the ACA in 2012, told Republican lawyers.Similarly, Kavanaugh pointed out that "it does seem fairly clear that the proper remedy would be to sever the mandate and leave the rest of the law in place.""I tend to agree with you that this is a very straightforward case for severability under our precedents, meaning that we would excise the mandate and leave the rest of the act in place," he added.The chief justice also raised the issue of "standing," which refers to the notion that a party or individual that files a lawsuit must demonstrate that they personally have been wronged by the issue they're litigating.Roberts said the plaintiffs' argument "really expands standing dramatically ... You're letting someone not injured by the provision he's challenging to sort of roam around through those 1,000 pages and pick out whichever ones he wants to attack."A final ruling in the case is expected to come by the end of the current term in June 2021, and if Roberts and Kavanaugh were to side with the court's three liberal justices, it would be enough to uphold Obamacare.The decision would be a major blow to Republicans and the Trump administration, who have repeatedly sought to invalidate the law through Congress and the courts since Trump first took office in 2017 and even before that.<a href="https://www.newsweek.com/gop-health-care-bill-repeal-and-replace-70-failed-attempts-643832" target="_blank" rel="noopener">Newsweek</a> documented at least 70 Republican-led efforts to modify, repeal, or drastically downsize the ACA since it was first enacted in March 2010. In July 2017, six months after Trump took office and his administration made a strong push to repeal Obamacare and replace it with the <a href="https://www.motherjones.com/politics/2017/03/conservatives-oppose-trumpcare-ryancare-obamacare-replacement/" target="_blank" rel="noopener">widely panned</a> "Trumpcare," the Republican-controlled Senate again <a href="https://www.businessinsider.com/why-john-mccain-voted-no-on-health-care-skinny-repeal-bill-2017-7" target="_blank" rel="noopener">rejected the effort</a> with then Arizona Sen. John McCain's <a href="https://www.washingtonpost.com/politics/2018/08/27/iconic-thumbs-down-vote-that-summed-up-john-mccains-career/" target="_blank" rel="noopener">dramatic thumbs-down vote</a>.The president has since continued to tout healthcare reform as a key pillar of his reelection campaign and said a plan was forthcoming but <a href="https://www.washingtonpost.com/politics/2020/09/25/health-202-trump-new-health-care-plan-isnt-really-plan/" target="_blank" rel="noopener">never released one</a>. As of last week, Insider and every major TV network projected that President-elect Joe Biden defeated Trump in the election.

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