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<keyword id="20024191" type="General" weightage="20" keywordseo="Reliance-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Power" meta.hostid="261" meta.entityid="Reliance Power">Reliance Power</keyword> said it has received <keyword id="21075266" type="General" weightage="20" keywordseo="shareholders-approval" source="keywords">shareholders' approval</keyword> to raise <keyword id="23666886" type="General" weightage="20" keywordseo="Rs-1524-60-crore" source="keywords">Rs 1,524.60 crore</keyword> through issuance of <keyword id="20770487" type="General" weightage="20" keywordseo="preferential-shares" source="keywords">preferential shares</keyword>. A resolution through a postal ballot notice has been passed with requisite majority, the company said in a late night stock exchange filing on Wednesday. According to the postal ballot notice, the company will raise up to Rs 1,524.60 crore by preferential issue of up to 46.20 crore <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> and/or warrants convertible into equivalent number of equity shares at a price of Rs 33 per apiece. On September 23, the board of Reliance Power Ltd had approved raising Rs 1,524.60 crore through issue of preferential shares, wherein promoters will infuse Rs 600 crore into the company to advance its business. <div type="Article" hostid="261" msid="79183505" title="Happy Dhanteras 2024 messages and wishes" mstype="2" mssubtype="0"></div> Reliance Infrastructure, the promoter of the company, will enhance its equity stake by over Rs 600 crore. The other investors who will participate in the preferential issue include Authum Investment and Infrastructure Ltd and Sanatan Financial Advisory Services. The fresh fund would be utilised for expansion of business operations directly and/or through investment in subsidiaries and joint ventures, debt reduction and for general corporate purposes, the company said. The preferential issue will enhance the company's net worth from about Rs 11,155 crore to over Rs 12,680 crore, it said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms" target="_blank">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms" target="_blank">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a><a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms" target="_blank">Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Reliance Power gets shareholders' nod to raise ₹1,525 crore via preferential shares

<ul class="summary-list"><li>Salesforce CEO Marc Benioff has been experimenting with various AI tools.</li><li>His latest fascination is Google's Gemini Live, an AI voice assistant.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/marc-benioff">Marc Benioff</a> gave Google's AI voice assistant, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/google-introduces-gemini-live-1033689741">Gemini Live</a>, his stamp of approval."Just downloaded Gemini Live, and I'm absolutely blown away," he wrote in an <a target="_blank" class="" href="https://x.com/Benioff/status/1858259054277415292">X post</a> on Sunday.The Salesforce CEO said that the voice assistant had "zero latency," referring to the time it takes to get a response from the AI-powered tool, and called it the "future of consumer AI.""Incredible work, @sundarpichai," Benioff wrote, tagging Google CEO Sundar Pichai. "Truly groundbreaking. Try it immediately."The Salesforce CEO has been sounding off on social media about his experience with the latest suite of AI tools available to businesses and consumers.In recent months, Benioff has repeatedly panned Microsoft's AI assistant, <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-ai-artificial-intelligence-bet-doubts-marc-benioff-satya-nadella-2024-11">Copilot</a>, calling it "<a target="_blank" class="" href="https://www.businessinsider.com/salesforce-ceo-marc-benioff-microsoft-copilot-disappointing-clippy-2024-10">disappointing</a>" and likening it to the company's discontinued Microsoft Office digital assistant, <a target="_blank" class="" href="https://www.businessinsider.com/marc-benioff-salesforce-microsoft-copilot-clippy-2024-9">Clippy</a>."<a target="_blank" class="" href="https://www.businessinsider.com/marc-benioff-salesforce-ceo-interview-microsoft-ai-threatens-crm-lead-2024-10">Microsoft</a> has really disappointed so many of our customers," Benioff told Business Insider's Ashley Stewart of Copilot. "They've really done it by delivering a level of hype around their AI solutions."Google released a smartphone app for Gemini Live on Apple's App Store on Thursday, just a few months after the virtual assistant was made free for users. The move came days after Apple released the <a target="_blank" class="" href="https://www.businessinsider.com/guides/tech/iphone-16-review">iPhone 16</a> in September, which was built to handle <a target="_blank" class="" href="https://www.businessinsider.com/apple-devices-supporting-apple-intelligence-ai-2024-10">Apple Intelligence</a>.With Gemini Live, users can interact with an AI chatbot through a natural conversation: A user asks the question by voice and the AI responds back.When Business Insider asked Gemini why San Francisco is so foggy, for example, the AI responded conversationally: "It's a combo of things — the cold water off the coast, the warm air from inland, and the shape of the bay. Basically, the cold ocean air meets the warm air, and it creates this thick fog that gets trapped in the bay. You could say it's San Francisco's calling card — you know you're there when you see it!"Copilot and OpenAI's ChatGPT also have mobile apps where users can interact with an AI chatbot."Ah, the famous San Francisco fog," ChatGPT's chatbot starts when BI asked the same question about SF's climate. "It's mainly because of the unique geography and climate. The cold ocean water from the Pacific meets the warmer air from the land. This causes condensation, which forms fog. Plus, the coastal mountains and the bay shape and trap the fog, making it a regular visitor. It's all part of the city's charm!"Copilot, ChatGPT, and Gemini work similarly and they are all prone to limitations like <a target="_blank" class="" href="https://www.businessinsider.com/chatgpt-openai-ai-dictionary-help-understand-nvidia-2023-12">hallucinations or producing inaccurate results</a>. According to <a target="_blank" href="https://www.axios.com/2024/03/03/chatgpt-copilot-gemini-ai-beginners-guide-tools">Axios</a>, ChatGPT works for most tasks, Gemini can access more timely information, and Copilot is most suited for productivity tasks.During Salesforce's annual Dreamforce conference in September, <a target="_blank" class="" href="https://sfstandard.com/2024/09/17/marc-benioff-jensen-huang-dreamforce/">Benioff</a> told Nvidia CEO Jensen Huang that he uses ChatGPT "mostly as my therapist."Benioff said in a September interview with venture capitalist David Sacks that he believes AI has reached a point where it is indistinguishable from <a target="_blank" class="" href="https://www.businessinsider.com/marc-benioff-ai-humans-customer-service-salesforce-2024-9">human customer service workers</a>."We are already at the point. We already have that live," Benioff said. "We're really getting to, like, another level of capability, and I think that's it's pretty impressive."Benioff and a spokesperson for Google did not respond to a request for comment.

Google Gemini gets Marc Benioff's stamp of approval

There was a time when hearing aids didn’t exist and people got a new sense of life when they started selling commercially. The moment turned out to be revolutionary, as people with hearing loss could enjoy life. Now, <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>’s <keyword id="19985233" type="General" weightage="100" keywordseo="Neuralink" source="keywords" meta.keywordsubtype="org" meta.entityname="Neuralink" meta.hostid="261" meta.entityid="Neuralink">Neuralink</keyword> might just be on its way to do the same for people with no vision. In a recent tweet, <keyword id="19905256" type="General" weightage="20" keywordseo="Musk" source="keywords">Musk</keyword> offered a ray of hope to people who have lost their vision–or were born without it. He said that with his upcoming device, <keyword id="21797028" type="General" weightage="20" keywordseo="Blindsight" source="keywords">Blindsight</keyword>, even those who have been blind since birth will be able to see the world for the very first time. <h2>Neuralink's Blindsight gets <keyword id="20561063" type="General" weightage="20" keywordseo="FDA-approval" source="keywords">FDA approval</keyword> </h2> The US Food and Drug Administration (FDA) has awarded a "Breakthrough Device" status to Neuralink’s experimental vision-restoring implant, Blindsight. This designation is intended to fast-track the development of innovative medical devices aimed at addressing severe conditions. While the breakthrough designation is a significant step forward, Blindsight has not yet commenced human trials. The FDA has not provided further commentary on the timeline for these trials. The breakthrough status, however, suggests that Neuralink is closer to beginning clinical testing, a crucial phase that will determine the device's safety and efficacy in real-world conditions. <h2>About Blindsight </h2> Blindsight, as per Neuralink, is designed to offer vision restoration to those who have lost both eyes and their optic nerves. Musk recently described it as a revolutionary technology that could even provide sight to those who have been blind from birth, provided their visual cortex remains functional. The technology works by bypassing damaged optic nerves and directly stimulating the visual cortex, the part of the brain responsible for processing visual information. Musk has been candid about the initial capabilities of Blindsight, comparing its early-stage vision quality to the graphics of vintage video games like those produced by Atari. However, he remains optimistic about its future potential. According to Musk, advances in technology could enhance the device's resolution to surpass natural human vision. Moreover, he envisions Blindsight enabling users to perceive wavelengths beyond the visible spectrum, such as infrared and ultraviolet, and even radar. In a post on X, Musk wrote, "To set expectations correctly, the vision will at first be low resolution, like Atari graphics, but eventually, it has the potential to be better than natural vision, enabling the user to see in infrared, ultraviolet, or even radar wavelengths." The potential impact of Blindsight is immense. For those who have lost their sight due to injury or illness, the ability to regain vision could be life-changing. The technology could also offer hope to those who have been blind from birth, providing them with visual experiences they have never known. Musk’s vision for Blindsight goes beyond merely restoring lost vision. He has hinted at the possibility of future upgrades that could allow users to see beyond the visible spectrum, experiencing wavelengths that are typically outside human perception. This could open up new possibilities for understanding the world and interacting with it in ways that were previously thought to be only possible in Sci-Fi movies and shows. While the device’s initial resolution may be low, its potential to improve over time suggests that Blindsight could become a powerful tool for enhancing human capabilities. The possibility of seeing in infrared, ultraviolet, or even radar wavelengths could redefine the boundaries of human vision and provide new ways of experiencing and understanding our environment. <h2>Neuralink’s first <keyword id="20386218" type="General" weightage="20" keywordseo="brain-chip" source="keywords">brain chip</keyword></h2> In parallel with the Blindsight project, Neura<keyword id="19936857" type="General" weightage="20" keywordseo="link" source="keywords">link</keyword> is also exploring other applications of its brain-chip technology. The company is also testing a device aimed at enabling paralysed people to control digital devices through thought alone. Called Link, this technology could have profound implications for those with spinal cord injuries, offering new ways to interact with the digital world and regain autonomy. <div type="Article" hostid="261" msid="113445065" title="'The pressure became too much for her': Mother blames 'work stress' for 26-year-old EY employee's death" mstype="2" mssubtype="0"></div> In January this year, Neuralink implanted its brain chip in a 29-year-old man, <keyword id="21032940" type="General" weightage="20" keywordseo="noland-arbaugh" source="keywords">Noland Arbaugh</keyword>. Arbaugh, who was paralyzed from the shoulders down after an accident, received the implant on January 28. Just two days after surgery, he was reported to be recovering well. After 100 days of the implant, Neuralink talked about Arbaugh's progress in a blog post. Before the implant, Arbaugh used a mouth-held tablet stylus to interact with digital devices which was cumbersome. After the implant, he could control his laptop and other devices more easily, even while lying down. Not just that, he could even play games using just his mind. The company also placed the chip in a second patient last month. Musk had talked about the second patient’s procedure during a podcast with Lex Fridman. The tech mogul had said that he doesn’t want to “jinx” anything but the procedure went “extremely well” this time. He added, “There’s a lot of signal, a lot of electrodes. It’s working very well.” Musk had also said that the second patient too had an injured spinal cord, similar to the first patient. The billionaire didn’t reveal the exact time and date of the surgery but said that 400 of the implant’s electrodes are functioning in the second patient’s brain. According to Neuralink’s website, their implant uses a total of 1,024 electrodes. In addition to this, Musk had also mentioned Neuralink’s plans to implant the brain chip in eight more patients this year as part of its clinical trials. <h2>When was Neuralink found?</h2>Neuralink was founded in 2016 by Elon Musk and a team of engineers with the goal of developing brain-machine interfaces that could change the way we interact with technology. The company's mission, it says, is to create advanced neural interfaces that can be implanted in the human brain, allowing for direct communication between the brain and external devices. The initial focus of Neuralink was on creating technology that could help individuals with disabilities regain control over their bodies and improve their quality of life. The company's first major breakthrough was the development of Link. Neuralink’s approach involves implanting small, flexible electrodes into the brain, which can then be used to monitor and influence neural activity. The company’s long-term vision includes not only restoring lost functions but also enhancing human capabilities and expanding the boundaries of what is possible with brain-machine interfaces. <div type="Article" hostid="261" msid="113453337" title="Vivo V40 Pro review: Sleek design, strong performance, impressive camera" mstype="2" mssubtype="0"></div>

Those who have been blind from birth might get to see the world with Elon Musk's Neuralink Blindsight:  All you need to know

<ul><li><keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="261" meta.entityid="Apple">Apple</keyword> got <keyword id="20561063" type="General" weightage="20" keywordseo="FDA-approval" source="keywords">FDA approval</keyword> for <keyword id="23162936" type="General" weightage="100" keywordseo="AirPods-Pro-2" source="keywords">AirPods Pro 2</keyword> <keyword id="23149435" type="General" weightage="20" keywordseo="hearing-aid-feature" source="keywords">hearing aid feature</keyword></li><li>The feature was announced earlier this week</li><li>The feature will rollout later this year</li></ul> Earlier this week, Apple hosted its much-awaited 'It's Glowtime' event and during the presentation, we all got a glimpse of the AirPods Pro 2. The all-new Airpods were introduced more than just a pair of TWS earbuds this time. Apple had said that people with mild to moderate hearing loss could use the Airpods as a hearing device. However, this had been pending of an approval from the US Food and Drug Administration at the time. Now, Apple has received the <keyword id="19918726" type="General" weightage="20" keywordseo="FDA" source="keywords" meta.keywordsubtype="org" meta.entityname="FDA" meta.hostid="261" meta.entityid="FDA">FDA</keyword> approval for the hearing aid feature of the AirPods Pro 2. <h2>Apple gets FDA approval</h2> As mentioned already, Apple’s AirPods Pro 2 have been approved by the FDA to function as over-the-counter hearing aids. This approval, which comes through a software update, marks the first time a mainstream consumer device has received such authorisation, opening up new possibilities for those with mild-to-moderate hearing loss. The software update is expected to roll out later this year and will be available in over 100 countries. <h2>What can the AirPods Pro 2 do?</h2> With this feature, users of the AirPods Pro 2 can now enhance real-time sound, making conversations clearer and boosting environmental awareness. This innovation comes as a solution to the millions worldwide living with hearing loss, helping people hear more effectively without the need for traditional hearing aids. <div type="Article" hostid="261" msid="113203853" title="Apple Watch Series 10 and AirPods 4 launched: Specifications, price, availability and more" mstype="2" mssubtype="0"></div> Apple had announced this update durings the It's Glowtime event, explaining how AirPods Pro 2 could be “transformed” into hearing aids. The FDA’s recent authorisation now allows this feature to be fully integrated, providing a significant boost to accessibility. Unlike conventional hearing aids, the AirPods Pro 2 will allow users to enhance sounds without undergoing a medical exam or visiting an audiologist. This development follows the FDA’s 2022 decision to allow over-the-counter hearing aids for adults with mild-to-moderate hearing loss. Apple’s new feature aligns with this trend, enabling more people to access hearing assistance directly. <h2>Other features of AirPods Pro 2</h2> During the event, Apple had also acknowledged that hearing loss is a significant concern worldwide, with 1.5 billion people affected. The company added that it has designed an all-in-one solution to prevent, monitor, and assist with hearing health. <div type="Article" hostid="261" msid="113204555" title="iPhone 16 Apple Intelligence features include a smarter Siri, AI-powered photo editing and more" mstype="2" mssubtype="0"></div> One of the highlights of the new AirPods Pro 2 is the Active Hearing Protection feature. This helps users minimise their exposure to loud environmental noises, which can contribute to hearing damage over time. The system operates across all listening modes by default. To raise awareness about potential hearing issues, Apple also introduced a self-administered Hearing Test feature that works in sync with the AirPods Pro and a compatible iPhone or iPad. This clinically validated test mimics the standard pure-tone audiometry used in clinical settings. Apple also said that users can take the test in just five minutes from the comfort of their home, and once completed, they receive a detailed summary of their results. The results, which include an audiogram, are stored in the Health app, allowing users to share them with healthcare providers for further consultation.

Apple gets FDA approval for AirPods Pro 2 hearing aid feature, here is how it can help people

Singapore: <keyword id="20036942" type="General" weightage="100" keywordseo="Singapore-Airlines" source="keywords" meta.keywordsubtype="org" meta.entityname="Singapore Airlines" meta.hostid="83" meta.entityid="Singapore Airlines">Singapore Airlines</keyword> on Friday said it has received approval from the Indian government for the foreign direct investment as part of the proposed merger of <keyword id="20018887" type="General" weightage="20" keywordseo="Vistara" source="keywords" meta.keywordsubtype="org" meta.entityname="Vistara" meta.hostid="83" meta.entityid="Vistara">Vistara</keyword> with <keyword id="19896871" type="General" weightage="20" keywordseo="Air-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Air India" meta.hostid="83" meta.entityid="Air India">Air India</keyword>, a deal that will create one of the world's largest airline groups. With the clearance in place, the merger that will see Singapore Airlines acquiring a 25.1 per cent stake in Air India, is expected to be completed by the end of this year. The proposed merger was announced in November 2022. Air India is owned by <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="83" meta.entityid="Tata Group">Tata Group</keyword> and Vistara is a 51:49 joint venture between Tatas and Singapore Airlines. In a regulatory filing on Friday, Singapore Airlines (SIA) said it has received approval from the Government of India for Foreign Direct Investment (FDI) into the enlarged Air India as part of the proposed merger. "The FDI approval, together with anti-trust and merger control clearances and approvals, as well as other governmental and <keyword id="19941849" type="General" weightage="20" keywordseo="regulatory-approvals" source="keywords">regulatory approvals</keyword> received to-date, represent a significant development towards the completion of the proposed merger," the airline said in the filing to the Singapore Stock Exchange. The airline also said the completion of the merger continues to be subject to compliance by the parties with applicable Indian laws, which is currently expected to be completed in the next few months. "At this juncture, completion of the proposed merger is anticipated to occur by the end of 2024," it added. According to Singapore Airlines, the parties are in discussions to extend the long stop date for the completion of the merger. Earlier, it was expected to be October 31, 2024. The merger, which will create one of the biggest airline groups, was approved by the National Company Law Tribunal (NCLT) in June. In March, Singapore's competition regulator CCCS gave a conditional nod for the proposed deal. Prior to that in September 2023, the deal received approval from the Competition Commission of India (CCI), subject to certain conditions. "SIA will make the necessary announcement(s) upon completion of the proposed merger or in the event that there are other significant developments," the filing said on Friday.

Singapore Airlines gets FDI nod from Indian govt for Vistara-Air India merger

<ul class="summary-list"><li>Unionized Boeing workers on Monday voted to accept a contract proposal, ending a seven-week strike.</li><li>The deal increases pay by 38% over four years and gives workers a bonus for ratifying the contract.</li></ul>Boeing union workers approved a labor contract proposal on Monday that will increase pay by 38% over four years and end a seven-week strike.According to the <a target="_blank" class="" href="https://x.com/IAM751/status/1853664063429189635">International Association of Machinists and Aerospace Workers Local 751,</a> 59% of employees voted yes to the proposal. This was <a target="_blank" class="" href="https://www.businessinsider.com/boeing-union-iam-endorses-contract-pay-raise-strike-2024-10">after Boeing union leaders endorsed</a> the offer on Thursday."This contract also creates a new foundation to build on for the future and that future begins today," Jon Holden and Brandon Bryant, presidents of IAM districts 751 and W24 respectively, said in a joint statement on Monday."We are ready to help Boeing change direction and return to building the highest quality and safest airplanes in the world," the statement added.The win, which also includes a $12,000 ratification bonus, comes after Boeing machinists shot down two other offers since September 13.The first was when over 30,000 union <a target="_blank" class="" href="https://www.businessinsider.com/boeing-workers-preparing-to-strike-rejected-contract-wage-increase-2024-9">workers voted to strike</a> after being displeased with the 25% pay increase they were originally offered.The second rejection was in <a target="_blank" class="" href="https://www.businessinsider.com/boeing-workers-reject-latest-proposal-with-35-wage-hike-union-2024-10">late October. It included a 35% pay hike</a> and a $7,000 bonus. Still, workers will not get a highly-demanded <a target="_blank" class="" href="https://www.businessinsider.com/seattle-boeing-workers-unhappy-raise-pension-contract-negotiations-25-increase-2024-9">pension plan that was taken away a decade ago.</a>This was Boeing's fourth offer overall. The company's second offer with a 30% pay increase was <a target="_blank" class="" href="https://www.businessinsider.com/boeing-strike-negotiations-union-leaders-break-down-after-two-days-2024-10">withdrawn after talks broke down.</a>"This agreement represents a new standard in the aerospace industry — one that sends a clear statement that aerospace jobs must be middle class careers in which workers can thrive," Brian Bryant, IAM's international president, said in a statement on Monday.The win for Boeing means it can restart its production line as <a target="_blank" class="" href="https://www.businessinsider.com/ryanair-earnings-profits-drop-boeing-delays-criticism-consumer-2024-11">airlines continue to complain about delayed deliveries.</a>New Boeing CEO Kelly Ortberg, who started in August, can also fully implement his <a target="_blank" class="" href="https://www.businessinsider.com/boeing-ceo-turnaround-plan-employee-memo-earnings-2024-10">culture turnaround plan</a> as union factory employees return to work.According to a Bank of America analyst estimate, Boeing lost about $50 million a day due to the strike.The strike also led to an announced 10% staff cut, a <a target="_blank" class="" href="https://www.businessinsider.com/boeing-777x-why-so-important-delays-future-airlines-2024-7">further delay to Boeing's 777X program</a>, and a halt in much of Boeing's production in Seattle.This has snowballed the problems at the <a target="_blank" class="" href="https://www.businessinsider.com/timeline-of-boeing-problems-alaska-airlines-strike-layoffs-starliner-max-2024-10">already embattled planemaker</a>, which started with a door plug blowing off a new 737 Max in January. That was followed by a safety audit, a CEO change, and at least three whistleblowers who reported quality concerns on the assembly lines.Representatives for Boeing and IAM Districts 751 and W24, the union branches representing the striking workers, did not immediately respond to requests for comment from Business Insider.

Boeing workers approve labor contract, ending a bruising 7-week strike

<ul class="summary-list"><li>Ukraine approved a wartime tax increase on Thursday.</li><li>The new law will raise war tax from 1.5% to 5% for residents.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/category/ukraine">Ukraine's</a> parliament approved a war tax increase on Thursday.The bill will <a target="_blank" class="" href="https://en.interfax.com.ua/news/general/1019601.html">raise a military tax</a> on residents from 1.5% to 5% and see corporate tax on banks' profits climb to 50% for the year.It will also raise taxes on financial institutions' — excluding insurance companies — profits to 25% from 2025.According to the Verkhovna Rada's website, 247 members of parliament approved the increases.Yaroslav Zhelezniak, a Ukrainian lawmaker, described the increases as "historic."Ukrainian President Volodymyr Zelenskyy will still need to sign off on the bill, per Reuters.Ukraine's parliament increased defense spending by almost 500 billion hryvnia (around $12.1 billion) in July in a bid to bolster the country's armed forces amid the ongoing war against Russia."Financing the needs of the Defence Forces is now a top priority. Additional funds for weapons, fortifications and salaries for servicemen are a critical component of countering the military aggression of the Russian Federation against Ukraine," Yuriy Dzhygyr, Ukraine's deputy defense minister, said at the time.It comes a day after the EU agreed on a new loan of up to 35 billion euros (roughly $38 billion) to Ukraine."The up to €35 billion MFA loan is the EU's contribution to the G7 loan of up to €45 billion," the Council of the EU said in a statement. The loan is backed by frozen Russian sovereign assets.Meanwhile, Zelenskyy met British Prime Minister Keir Starmer and new NATO chief Mark Rutte in London on Thursday.In a post on X, Zelenskyy said the trio had focused on "Euro-Atlantic integration and the military reinforcement of Ukraine."

Ukraine approves 'historic' war tax hike to help cover defense spending 

<ul class="summary-list"><li><keyword id="19903774" type="General" weightage="100" keywordseo="Paramount" source="keywords">Paramount</keyword>'s three <keyword id="20122085" type="General" weightage="20" keywordseo="CEOs" source="keywords">CEOs</keyword> told staff it was "<keyword id="22369465" type="General" weightage="20" keywordseo="business-as-usual" source="keywords">business as usual</keyword>" until its <keyword id="20035800" type="General" weightage="20" keywordseo="merger" source="keywords">merger</keyword> closed, <a target="_blank" href="https://deadline.com/2024/07/paramount-global-skydance-deal-brian-robbins-george-cheeks-chris-mccarthy-note-to-staff-1236003010/">Deadline said</a>.</li><li>They reminded employees that <keyword id="19916567" type="General" weightage="20" keywordseo="layoffs" source="keywords">layoffs</keyword> loomed, following a plan unveiled in June.</li></ul>Paramount's CEO trio told employees it was "business as usual" until the formal close of its megamerger with Skydance, while reminding them that layoffs loomed. Paramount's board approved the merger on Sunday, marking the end of tumultuous talks that were nearly torpedoed in June when Shari Redstone, who owns a controlling stake in Paramount through National Amusements, walked away from the negotiations. Skydance CEO David Ellison, the son of Oracle's cofounder Larry Ellison, is set to serve as chair and CEO of the newly combined company, and former NBCUniversal CEO Jeff Shell plans to serve as its president. Still, the deal is far from sealed — and <a target="_blank" href="https://www.businessinsider.com/ftc-needs-approve-paramount-and-skydance-merger-antitrust-competition-khan-2024-7">may yet face Federal Trade Commission scrutiny</a> over antitrust concerns. In a note to staff <a target="_blank" href="https://deadline.com/2024/07/paramount-global-skydance-deal-brian-robbins-george-cheeks-chris-mccarthy-note-to-staff-1236003010/">obtained by Deadline</a>, Paramount <a target="_blank" href="https://www.businessinsider.com/paramount-ceo-bob-bakish-out-2024-4">co-CEOs</a> George Cheeks, Brian Robbins, and Chris McCarthy said the transaction would likely close in the first half of 2025 because of "<keyword id="19941849" type="General" weightage="20" keywordseo="regulatory-approvals" source="keywords">regulatory approvals</keyword>" and other factors. Until then, the execs are moving forward with a plan that includes "streamlining teams, eliminating duplicative functions and reducing the size of our workforce," they wrote. They added that Paramount would explore "divesting some of our assets." A representative for Paramount declined to comment on who would be affected by the layoffs. The trio discussed job cuts earlier this year. At an investor meeting in June, they shared plans to run Paramount as a stand-alone company. This included $500 million in cuts, <a target="_blank" href="https://www.latimes.com/entertainment-arts/business/story/2024-06-04/despite-sale-paramount-announces-business-plan-and-job-cuts">the Los Angeles Times reported</a>, including layoffs, asset sales, and a joint venture for Paramount+. At a town hall last month, the CEOs said they'd made progress in identifying duplicative roles, <a target="_blank" href="https://variety.com/2024/biz/news/paramount-ceos-town-hall-layoffs-bankers-asset-sales-1236047993/">Variety reported</a>, including in the legal and corporate-marketing departments, but did not provide a timeline. In February, Paramount <a target="_blank" href="https://www.businessinsider.com/layoffs-sweeping-us-these-are-companies-making-cuts-2024#paramount-global-is-laying-off-800-employees-days-after-record-breaking-super-bowl-21">cut 800 jobs</a> — about 3% of its workforce. In terms of asset sales, Variety reported that BET, VidCon, and the Paramount Pictures lot could be in play. Correction: July 9, 2024 — An earlier version of this story misstated Shari Redstone's role at Paramount. She's the controlling shareholder of the company and its chair, not its owner.

Paramount co-CEOs tell workers it's 'business as usual' — and remind them that there'll be layoffs

<ul class="summary-list"><li>The US has approved a $2 billion arms sale to Taiwan that includes missile and radar systems.</li><li>The potential sale would include three NASAMS air-defense systems.</li></ul>The US on Friday approved a potential <a target="_blank" class="" href="https://www.businessinsider.com/us-send-taiwan-largest-ever-security-package-officials-china-threat-2024-9">arms sale package</a> for Taiwan worth nearly $2 billion.The first part of the package would include three National Advanced Surface-to-Air Missile Systems (NASAMS) and 123 Advanced Medium Range Air-to-Air Missile (AMRAAM-ER) missiles, among other things, costing $1.16 billion, the Defense Security Cooperation Agency (DSCA) said in a press release.An additional $828 million sale would include radar systems, the agency said.The deal awaits approval by Congress.The DSCA said the package would improve Taiwan's "capability to meet current and future threats" by improving its air defenses and helping it provide regional security and increase "interoperability" with the US."The proposed sale of this equipment and support will not alter the basic military balance in the region," it added.The <a target="_blank" class="" href="https://www.businessinsider.com/countries-are-giving-ukraine-air-defenses-for-russian-missiles-drones-2022-11">NASAMS is a medium-range air-defense system</a> that can be used to defend against aircraft, drones, and cruise missiles.It was developed jointly by the US firm Raytheon and Norway's Kongsberg Defense and Aerospace.The system, which has as range of around 25 miles, has been battle-tested in the Russia-Ukraine war.US Defense Secretary Lloyd Austin said in November 2022 that the NASAMS system had up to that point had a 100% success rate in intercepting Russian missiles."Their performance, so far, has been very impressive," he said.It comes amid China's continued military presence around Taiwan.China, which views Taiwan as a breakaway province, has regularly conducted military exercises around the island.A spokseperson for the Chinese military's Eastern Theater Command <a target="_blank" class="" href="https://mp.weixin.qq.com/s/7Cztrgac9tEcCmUoBAVk4Q">called</a> drills that took place earlier this month in the Taiwan Strait and around Taiwan "a stern warning to the separatist acts of 'Taiwan Independence' forces."One analyst told Business Insider in June that increasing <a target="_blank" class="" href="https://www.businessinsider.com/china-showed-how-easily-no-notice-it-can-surround-taiwan-2024-6">military exercises around the island had the "makings of a blockade."</a>The Chinese military has been able to "essentially start mounting an increased tempo of these large-scale drills that have a lot of the makings of a blockade," Tom Shugart, a former US Navy officer and current adjunct senior fellow at the Center for a New American Security think tank, said.Further exercises in May had showed that China's fleet was "very well suited" for a blockade or quarantine of the island, he added.Wellington Koo, Taiwan's defense minister, said on Wednesday that a real Chinese blockade of Taiwan would be an act of war, per <a target="_blank" class="" href="https://www.reuters.com/world/asia-pacific/taiwan-says-chinese-aircraft-carrier-group-sailed-through-taiwan-strait-2024-10-22/">Reuters</a>.Business Insider has contacted the Department of Defense for comment.

US approves $2B arms sale to Taiwan including air-to-air missiles and NASAMS weapon systems

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/tom-brady-nothing-replace-thrill-football-retirement-plan-nfl-2024-6">Tom Brady</a> has won the NFL's approval to acquire a minority stake in the Las Vegas Raiders.</li><li>The quarterback has been looking to buy a share of the NFL franchise for over a year.</li></ul><a target="_blank" rel="noopener noreferrer" class="c-link c-link--focus-visible c-link--underline" href="https://www.businessinsider.com/tom-brady-luxury-watch-collection-auction-photos-2024-10">Tom Brady</a> — the star quarterback and seven-time Super Bowl champion — has been approved to acquire a 5% stake in the Las Vegas Raiders, a source close to Brady and an NFL source have confirmed to Business Insider.On Tuesday, the National Football League voted to approve a deal that will see Brady, Knighthead Capital cofounder Tom Wagner, and former NFL defensive lineman Richard Seymour acquiring about a 10% stake in the team.The price of the transaction has not been confirmed, but <a target="_blank" class="" href="https://www.cnbc.com/2024/09/05/nfl-valuations-2024-las-vegas-raiders.html">CNBC</a> valued the team at $7.8 billion earlier this year. That would make a 10% stake worth $780 million.Brady was first reported to be eyeing a stake in the franchise in May 2023, soon after he retired from the league. But his bid was held up because of the discounted price that he was offered, <a target="_blank" class="" href="https://www.washingtonpost.com/sports/2023/10/05/tom-brady-raiders-part-owner/">The Washington Post reported</a> at the time.The purchase will make Brady the owner of two Las Vegas teams. In March, he bought a minority share of the WNBA's Las Vegas Aces. Mark Davis owns both the Aces and the Raiders.<a target="_blank" class="" href="https://www.businessinsider.com/tom-brady-nfl-retirement-career-plans-business-breakdown-2022-8">Brady has amassed a diversified portfolio</a>. He has founded or cofounded a number of companies and invested in several others. He's also become a shareholder in companies through endorsement deals."Tom Brady was as attractive a person and a brand as existed in the American sportscape," Leigh Steinberg, a top sports agent and CEO of Steinberg Sports and Entertainment Holdings, told <a target="_blank" class="" href="https://www.businessinsider.com/tom-brady-nfl-retirement-career-plans-business-breakdown-2022-8">Business Insider</a> in 2022. "He's been very innovative and taken advantage of a larger concept of athletes as brands and the ability to take equity in businesses."He's a cofounder in Autograph, the former NFT platform that recently rebranded as a media company, and owns a piece of sports merchandise platform Fanatics. Both platforms were valued in the double-digit billions at their height. His investments include online luxury watch magazine and marketplace Hodinkee, and sneaker blog HypeBeast.Brady earns millions each year from his $375 million, 10-year commentating deal with Fox Sports. His new ownership stake has raised questions about his broadcast career. An NFL spokesperson told the <a target="_blank" href="https://affiliate.insider.com?h=f305f38fb90e57d0be8831209510cda27e47cece5ea9638c1d7d22d737d84c31&amp;postID=670ed67f0c43543ec7bbe017&amp;postSlug=tom-brady-nfl-approves-stake-las-vegas-raiders-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.nfl.com%2Fnews%2Fnfl-places-restrictions-on-tom-brady-s-fox-broadcasting-access-because-of-pending-raiders-ownership-stake">Associate Press</a> that Brady will have to follow rules around public criticism of officials and other teams and that his access to production meetings, teams, facilities, and coaches may be limited.

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