Tata’s ‘trust’ issues deepen as a key insider opens a new front

President Donald Trump and executives from top tech companies met to discuss the development of artificial intelligence. They signed a voluntary accord aimed at addressing public concerns about the technology's risks. Executives agree to implement robust internal controls and audits to ensure safety and accountability. Trump emphasized the importance of AI's growth and the U.S. leading in this global competition.

Nuvoco Vistas Corp has engaged in a partnership with Clean Max Enviro Energy Solutions for a renewable project. This initiative involves a 46.4 MW wind-solar hybrid energy facility located in Rajasthan. The project will include 20 MW of wind capacity and 26.4 MWdc of solar capacity, featuring a 2-MWh Battery Energy Storage System.

The Supreme Court maintained the Delhi HC's directive for a forensic audit of certain banking transactions. This audit specifically concerns transactions involving Fortis Healthcare Ltd and its former promoters. The audit aims to examine transactions related to the erosion of shareholding in Fortis Healthcare.

Linux Laboratories has secured $70 million in equity funding from ChrysCapital and Tata Capital Healthcare Fund III. This investment involves both primary capital and a secondary purchase, marking Tata Capital Healthcare Fund II's full exit. The funding will help Linux deepen its presence in existing specialties and expand into new therapeutic areas.

Oil prices have declined as Saudi Arabia restored partial capacity of its East-West pipeline, affecting global oil supply. Concerns regarding a stalemate between the US and Iran remain, but crude oil flows are sustained. The Brent crude future prices approached $103 a barrel, while West Texas Intermediate crude neared $90. There is ongoing movement of oil through the Strait of Hormuz despite risks to shipping.

Total smartphone exports in the April-August period rose about 36% from a year earlier to $15.96 billion, and as much as 98% of the incremental increase came from iPhones alone, show data available with ET.

Speaking in a panel discussion at Ficci Frames, India's leading media and entertainment conclave, Zee Entertainment CEO Punit Goenka said the industry has transformed and is no longer simply about investing in and focusing on either television or digital.