ED probes betting apps using AI firms to move Rs 2,000 crore abroad

Consumer companies score low on R&D spending amid innovation chorus

Indian consumer firms are asserting their commitment to technology and innovation, yet their investment in research and development (R&D) remains unremarkably low. Analysis reveals that R&D spending barely rose to an average of 0.9% of sales, with prominent companies like ITC, Britannia, and Hindustan Unilever experiencing stagnant or even decreasing funding.

ED probes betting apps using AI firms to move Rs 2,000 crore abroad

The Enforcement Directorate suspects that illegal betting syndicates moved over Rs 2,000 crore from India. These funds were disguised as legitimate investments in technology companies, specifically in artificial intelligence. Many companies involved have minimal business operations and disappear after receiving payments. The agency is investigating the role of various companies and secretaries in these transactions. Evidence has been traced linking over Rs 200 crore in remittances with a foreign entity.

Noel Tata seeks Tata Sons meeting video, minutes; questions legal opinions on Chandrasekaran reappointment

Tata Trusts chairman Noel Tata has sought the video recording and minutes of the September 17 Tata Sons board meeting that reappointed N Chandrasekaran for another five years, executives said. He also questioned the process of obtaining legal opinions after the meeting and said he was not given adequate time to present his views.

‘I’m getting good at it’: Trump mocks third impeachment threat as Dems eye Congress in midterms

US blast simulation targets China’s alleged secret nuclear testing

The US has conducted a non-nuclear underground experiment to enhance its ability to detect low-yield nuclear explosions that it explicitly linked with a test that Washington suspects China carried out in 2020 – an accusation Beijing denies. The US Department of Energy announced on Wednesday that the National Nuclear Security Administration (NNSA) conducted a “subsurface, non-nuclear chemical high-explosive” experiment at the Nevada National Security Site, which it said aimed to “increase the...

‘I’m getting good at it’: Trump mocks third impeachment threat as Dems eye Congress in midterms

In 1962, a spacecraft was launched by NASA to study Venus but a few moments later, the rocket went off course and was lost

A spacecraft, called Mariner 1, was NASA's first probe which planned to study Venus. A software error and a guidance control problem led to the loss of the spacecraft after it went off its intended path.

‘No retreat’: Key Trump ally urges continued US-China engagement on rare earths

US Republican Senator Steve Daines, a close aide to President Donald Trump and a key interlocutor between Washington and Beijing, has called on the two capitals to stay engaged and “not retreat” over differences on issues including rare earth supply chains. Daines told the South China Morning Post that both sides still had issues that predated Chinese President Xi Jinping’s state visit to Washington last week and that they would continue working on them after the summit. “So that’s again why...

US man arrested over alleged $300 million scheme to smuggle Nvidia AI servers to China

Amid intensifying competition in the AI technology race, US authorities have arrested a California technology company owner accused of using Malaysia and Singapore as transit points to circumvent US export controls and send more than US$300 million worth of restricted computer servers to China. Greg Lui, 38, also known as Yiu Kong Lui, of San Gabriel, was arrested on Thursday and charged with conspiracy to violate US export controls, outbound smuggling and conspiracy to commit money laundering,...

Brazil’s Lula hails ‘bold’ Chinese investors as rival pitches rare earths to Trump

Brazilian President Luiz Inacio Lula da Silva named China as a possible partner in his critical minerals plans, three days before Sunday’s closely fought election. Lula told Flow, one of the country’s most-watched podcasts, on Thursday evening that Brazil should stop shipping out raw ore. “We want to transform them here in Brazil,” he said of the minerals. Asked whether China fit into his plans, Lula said it could be a partner “bringing technology to us”, as could the United States. “[Donald]...

'We're not telling you who to vote for, but…': Hegseth gives US troops a day off to vote in midterms