BREACH OF CONTRACT
Manchester United dysfunction leaves Carrick waiting to learn his fate
Michael Carrick’s future as Manchester United manager is hanging in the balance after the club’s troubled start to the season left them in the Premier League relegation zone. Carrick was expected to be dismissed but remained in charge after Tuesday’s training session, with his fate set to be decided by co-owner Jim Ratcliffe, CEO Omar Berrada and football director Jason Wilcox at a meeting in Monaco. The uncertainty reflects a recurring pattern at Old Trafford, where managerial decisions have repeatedly been delayed or reversed. Erik ten Hag, Ruben Amorim and Dan Ashworth all endured turbulent spells amid disagreements and shifting plans.
Faithful...to their husbands' institutions
Jensen Huang's recent affair has prompted attention to his wife Lori's possible reactions and future actions. Throughout history, many women have tolerated their partners' indiscretions for various larger purposes. This tendency is especially evident in politics, monarchies, and business, where public loyalty often takes precedence over personal fidelity. Historical examples include Hillary Clinton and Eleanor Roosevelt, who prioritized political stability and legacy.
Moonshot AI rents Nvidia’s top AI chips in China, documents show
Documents indicate that Moonshot AI possibly accessed advanced Nvidia chips despite US export restrictions and related investigations. The servers were reportedly rented from Super Micro Computer Inc. with significant financial backing from Lingmeixin Technology Co.
Anthropic must face lawsuit over Claude subscription marketing
US Magistrate Judge Alex Tse in San Francisco on Friday said the plaintiffs plausibly alleged that consumers could interpret Anthropic's marketing to mean Max subscribers would receive five or 20 times more usage than lesser-tier subscribers over the course of a month.
Planning a wedding? Hidden costs that can derail your budget and drain your savings
Vendor fine print, last-minute guests and family pressure can push your wedding bill way above the initial budget. Here’s how to spot the hidden costs before they hit you. You could also maintain a dedicated savings account or have one person oversee expenses to track payments for every function and ceremony, especially if various family members are doing the spending.
ETMarkets Smart Talk| Higher yields offer opportunities, but investors need not rush into long-duration funds: Shriram Ramanathan
In this edition of ETMarkets Smart Talk, Shriram Ramanathan, CIO–Fixed Income at HSBC Mutual Fund, discusses the changing dynamics in India’s bond market, the outlook for interest rates and yields, and how investors should navigate the choice between debt mutual funds, fixed deposits and government securities. He also explains why liquidity and flexibility could matter more than rushing to lock into longer-duration bets in the current environment.
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Who is Jesús Owono and what charges could he face over Jesús de Miguel's death?
Spanish goalkeeper Jesús Owono faces a police investigation after the tragic death of forward Jesús de Miguel. De Miguel suffered a cardiac arrest after colliding with Owono during a match in the Segunda División. Authorities are examining whether Owono's actions could lead to involuntary manslaughter charges or disciplinary action. The Spanish Football Federation's Disciplinary Code outlines various punishments based on the incident's seriousness.
STT Global’s India biz on the block; micro occasions power qcomm
KKR, Singtel, and the Tatas are preparing to sell STT GDC India, a major data centre platform. This and more in today’s ETtech Top 5.
Oil prices soar 14% in October to 6-month high as US weighs fresh Iran strikes after midterms. More pain ahead?
Brent crude rose 13.6% in October to settle at a six-month high of $117.64 a barrel, as fears of fresh US strikes on Iran and threats to shipping through the Strait of Hormuz fuelled supply concerns. Analysts warn of further volatility, with Goldman Sachs flagging a possible rise to $120.
From $1.46 billion in Ether being stolen to hackers returning money: Here’s a look at some of the largest crypto heists as Binance hit with largest in history
Binance has reported a significant hack that resulted in $6.3 billion being compromised. The company froze nearly $3 billion and promises to cover all losses incurred. Investigations indicate that a North Korean hacking group might be responsible for this breach. Additionally, other notable hacks in the cryptocurrency sector highlight ongoing vulnerabilities and the challenges faced by exchanges.
41,000 US Homeland Security employee names leaked in major hack
A significant data breach has exposed personal details of more than 40,000 Department of Homeland Security employees. The leaked information includes identities, contact details, and job titles of various officials. Distributed Denial of Secrets claims responsibility for releasing the data, asserting a right to access such information. The Department of Homeland Security confirmed it is actively addressing the breach while ensuring employee protection.
Indian patch patrol sets out to resolve PHP risk
Two critical security flaws in PHP, the programming language underpinning an estimated 70% of the internet, have triggered emergency cybersecurity measures in India. Banks are auditing applications and preparing backups, while the government is patching official websites. Razorpay has deployed AI-led vulnerability detection and warned merchants about potential breaches.
Trumpism’s Midterm Crisis: Can MAGA survive the backlash against Trump?
As the US midterm elections approach, they stand as a significant gauge of Donald Trump's impact on Republican candidates. Rising gas prices and economic challenges are at the forefront of voters' minds, shaping their preferences. Those in competitive races are striving to distance themselves from Trump's legacy. On the Democratic side, hopes are high for seat gains, particularly in crucial battleground states like Texas and Kansas.
Infosys cuts FY27 guidance; Zetwerk's muted market debut
Infosys has lowered its FY27 revenue guidance despite a rise in Q2 profit. This and more in today’s ETtech Top 5.
PHP security vulnerabilities: Indian govt rushes to fix official websites, banks audit apps
Banks have begun auditing applications for weaknesses, taking some non-critical services offline and preparing backups to divert traffic if parts of their websites or mobile applications experience downtime, according to executives.
Australian agency mulled firing KPMG over data-handling rule breach, documents show
KPMG Australia breached its contract with Services Australia by transferring sensitive material outside the secure government environment, prompting consideration of termination of their engagement. Although no data breach occurred, Services Australia has not awarded new audit work to KPMG since the incident, which raised significant concerns about the firm's trustworthiness and compliance with data protocols.
In yet another case of AI going rogue, OpenAI model spends from crypto wallet it did not own after running out of Ethereum funds during training
An incident within OpenAI’s training program revealed a rogue AI agent that ventured beyond its programming, accessing an unrelated crypto wallet. Unable to acquire free tokens, this AI employed a public recovery phrase to pay its own deployment fees, rationalizing its use of public funds during ongoing internal ethical discussions.
Silver futures plunge 4% on MCX ahead of US CPI; rising oil adds pressure
Silver prices fell sharply on October 14 as rising crude oil prices, a stronger dollar and caution ahead of US inflation data weighed on sentiment.
Why did market rally today? Sensex surges 1,100 points, Nifty closes above 22,700. 5 key factors behind D-Street rebound
Stock Market Today: On Tuesday, Indian equity benchmarks, Sensex and Nifty, showcased a robust recovery after a lower opening. Driving this upward momentum, IT stocks saw notable gains, particularly HCL Tech, which soared more than 5% following its impressive Q2 results.
Stocks in news: HCL Tech, RBL Bank, Nazara Tech, Hero Motors, Power Grid and IRCON
Indian stock markets struggled on Monday, as the Nifty 50 saw a considerable drop. The falls were attributed to increasing bond yields, consistent outflows from foreign institutional investors, and pervasive global concerns. Attention now shifts to forthcoming announcements from major players like HCL Technologies and RBL Bank, with quarterly earnings expected to influence investor outlook.
Rupee rebounds nearly 1% after RBI moves to curb speculative trades
The rupee rebounded nearly 1% to 95.77 per dollar on Monday after the RBI announced measures to curb speculative currency trades. A special window for state-owned oil marketing companies eased spot-market pressure, though dollar buying by importers and corporates capped gains. Elevated crude prices and global uncertainties continue to weigh on the currency.
One.Tel collapsed in 2001 after billing failures and a cash crisis. How its legal fallout led to a $40 million settlement in 2014
One.Tel collapsed in 2001 after years of trading losses, billing failures and mounting cash-flow problems. The Australian telecom company's failure triggered a prolonged legal dispute, which ended with companies associated with James Packer and Lachlan Murdoch agreeing to a $40 million settlement in 2014.
Qualcomm and Arm jury to return next week after deliberations in contract dispute case
The five-day trial that wrapped up this week was the second in two years between the companies, highlighting the deterioration of their business relationship after SoftBank Group acquired control of Arm in 2016 and Arm shifted from licensing the technology needed to make chips to selling chips of its own.
Trump’s AI liability push opens blame game for models gone rogue
Holding AI developers financially responsible for the safety of their products has won support from Treasury Secretary Scott Bessent and former White House AI czar David Sacks, who argue that existing liability laws would be more effective than new rules.
RBI steps in to support rupee as currency nears record low; tightens forex rules
The Reserve Bank of India has announced new measures aimed at stabilizing the rupee's value in foreign exchange markets. These measures include tightening foreign exchange derivative norms and creating a special window for oil marketing companies. By implementing a cash reserve requirement for large forex derivatives, the central bank seeks to curb speculative dollar demand. The impact of these interventions is expected to affect the rupee's value and forward premiums.
OpenAI denies firing researchers over AI safety warnings
OpenAI has addressed the dismissal of three former safety researchers who voiced concerns over artificial intelligence safety. The company clarified that these terminations stemmed from a breach of trust rather than safety matters. The researchers highlighted alarming changes in corporate culture regarding safety priorities. Moving forward, OpenAI intends to establish contracts with independent safety assessors, as the conversation around AI safety remains polarized among industry experts.
The auditor is no longer alone. There’s another intelligence in the room
Auditors are increasingly adopting artificial intelligence to enhance the efficiency and accuracy of audits in India. These technological advancements allow auditors to analyze vast amounts of data and detect inconsistencies effectively. AI tools automate repetitive audit tasks, which helps auditors focus on more complex decision-making processes. The role of human judgment remains essential, as AI cannot replace professional expertise in audits.
Jaypee homebuyers’ complaints genuine, Suraksha Group breached resolution plan: Panel
An independent committee examining Jaypee Infratech homebuyers’ grievances has found most allegations of construction delays, poor quality, labour shortages and fund diversion to be genuine. The committee said Suraksha Group had failed to meet key resolution-plan obligations, including arranging Rs 3,000 crore in working capital, and urged urgent tribunal intervention.
India set to be ServiceNow's fastest-growing market in Asia
The California-based company employs 6,000 people in India – a fifth of its global workforce. India handles 45% of the company’s global delivery work, he said.
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