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The Latest Breaking News from The Economic Times

US chip startup SambaNova scores billion-dollar funding round

American AI chip startup SambaNova secured $1 billion in new funding. This investment values the company at an impressive eleven billion dollars. The company focuses on AI inference, which is crucial for user queries. This funding will support SambaNova's infrastructure development and expansion. Newcomers like SambaNova aim to challenge Nvidia's…

The Economic Times

AI expected to unlock up to 35% in profitability for Indian MSMEs; Nearly 60% to achieve double-digit revenue growth: Report

Artificial intelligence integration promises significant profit improvements for Indian MSMEs. Digital adoption helps nearly sixty percent of these businesses achieve double-digit revenue growth. Expanded market access and improved customer acquisition are key benefits reported by MSMEs. Digital advertising by MSMEs contributes substantially to the national economy. Technology adoption is crucial…

The Economic Times

Apple loses challenges against EU rules to curb Big Tech

Apple lost its challenge against landmark EU rules designating its app stores and iOS as gatekeepers. The EU Digital Markets Act mandates compliance for Big Tech firms with potential fines. A court ruling strengthened EU antitrust regulators' position for increased competition and consumer choice. Apple believes the DMA threatens user…

The Economic Times

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OpenAI GPT-5.6 rollout begins July 9: New features, models and everything else to know

OpenAI will launch its GPT-5.6 model family starting July ninth. These new models offer improved reasoning and coding capabilities for users. GPT-5.6 Sol, Terra, and Luna cater to diverse user needs and tasks. Enhanced safety features and cybersecurity improvements are also included in the release.

The Economic Times

Quant Small Cap Fund exits RIL, 8 others; raises exposure to two Adani stocks. Check full list

Quant Small Cap Fund made a major portfolio reshuffle in June, exiting Reliance Industries and eight other stocks while increasing exposure to Adani Enterprises, Adani Green Energy and 13 more companies. The fund also added Bharti Airtel, IDFC First Bank and LIC Housing Finance as new portfolio entrants.

The Economic Times

RBI backs crypto ban, tax department warns of evasion risks, documents show

India's central bank has reiterated its preference for a cryptocurrency policy "leaning towards prohibition," warning that crypto assets and stablecoins could threaten financial stability and monetary sovereignty, according to internal government documents reviewed by Reuters.

The Economic Times

India rolls out digital e-OCI Cards from July 8: What changes for new applicants and existing cardholders

India will issue only digital Overseas Citizen of India cards from July 8, 2026. Existing physical booklets remain valid but are no longer mandatory to carry. New applicants must download their digital e-OCI Card to their mobile phones. Personal interviews are now compulsory only for spouse-based OCI applications. Existing cardholders…

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Psychology says you might be jinxing your own goals by talking about them too soon, why announcing your plans can reduce motivation

Announcing ambitions can sometimes reduce the drive to achieve them. Receiving praise for intentions creates a false sense of accomplishment. This psychological effect stems from the brain experiencing a premature reward. Research shows public acknowledgment can widen the intention-behavior gap. Therefore, focusing on action over announcement is crucial for success.

The Economic Times

Bajaj Allianz rejects car insurance claim saying damage didn't match owner's story: Court orders Rs 20 lakh compensation under the policy

Bajaj Allianz General Insurance rejected a Punjab man's Rs 20 lakh claim after his BMW was totalled in a road accident involving stray cattle and a truck. His claim was rejected citing a forensic expert's report that the complainant's account of the accident did not match the vehicle's physical damage…

The Economic Times

22k gold rate today: Check 24k, 22k, 20k, 18k gold prices (July 8, 2026) at Malabar Gold & Diamonds, Tanishq, Joyalukkas, Kalyan Jewellers & IBJA

Gold prices saw a slight decrease today across major Indian jewellery retailers. Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas reduced their 22-carat gold rates. These price adjustments were observed in key cities nationwide.

The Economic Times

Global Market: Japanese fund managers bet big on yen bonds as BOJ policy shift lifts yields

Japanese asset managers are launching new bond funds as interest rates rise. This trend revives investor appetite for yen-denominated debt after decades. Firms like Mizuho and Nomura are expanding offerings to meet demand. Global investors are reassessing Japan's bond market opportunities.

The Economic Times

Blue Tokai brews up competition with Starbucks in India’s potential $1.15 billion market: Report

Specialty coffee chain Blue Tokai plans to triple its store count to 800 by FY30. The company aims to open 120 new cafes this financial year. Blue Tokai is also in discussions to raise at least $100 million in funding. Revenue is expected to grow by over 50% to Rs…

The Economic Times

'Will companies compensate if E-20 fuel damages older vehicles?': Arvind Kejriwal asks auto firms

Arvind Kejriwal has written to 29 auto manufacturers regarding E-20 fuel concerns. He questioned companies about compensation for mileage drops or component damage. Union Minister Hardeep Singh Puri dismissed reports of customer problems with E20 fuel. India is gradually increasing ethanol blending, with E20 already in use. The government is…

The Economic Times

'Your car, house, phone are chains': Ankur Warikoo on EMIs and loans; reveals when he had minus Rs 30 lakh net worth

Ankur Warikoo advises young professionals to liquidate choices leading to debt. He stresses taking responsibility for financial decisions and exercising choices. For unavoidable debt, he urges hard work and earning more to pay it off. Warikoo shared his own journey of clearing significant debt over a decade. He emphasizes focusing…

The Economic Times

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Global Market: Momenta Global debuts nearly flat in Hong Kong after $751 million IPO

Momenta Global shares debuted on the Hong Kong Stock Exchange with a muted reception. The autonomous-driving software developer raised HK$5.89 billion in its initial public offering. Investor sentiment remains cautious despite strong cornerstone backing from major firms. The company plans to use IPO proceeds for research and expansion. Momenta's listing…

The Economic Times

Tata Motors PV targets 10x volume growth by FY30; Chairman N Chandrasekaran aims for 20% market share

Tata Motors Passenger Vehicles aims for ten-fold volume growth by FY30. The company targets over 1.2 million vehicle sales and 20 percent market share. Significant investments in digital technologies and AI are planned across the value chain. Collaboration with Jaguar Land Rover leverages complementary strengths in manufacturing and technology. The…

The Economic Times

Russia tries to jam Elon Musk's Starlink systems to counter Ukrainian drones

Russian forces are camouflaging supplies and using jamming systems to disrupt Ukrainian drone operations. These tactics aim to counter Ukraine's effective mid-strike drone campaigns behind front lines. Ukraine's drone commanders report Russia is deploying advanced jamming devices to block Starlink connections. Military supplies are now hidden in civilian vehicles and…

The Economic Times

Big Short fame Michael Burry is betting against Nvidia, AMD, Micron and other chipmakers. Is a massive AI crash coming?

Michael Burry, famed for predicting the 2008 financial crisis, has increased his bearish bets against AI-linked chipmakers through the iShares Semiconductor ETF. His move has reignited concerns over stretched semiconductor valuations, the sustainability of the AI rally, and the possibility of a sharp correction in technology stocks.

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The Economic Times

China issues 'backdoor' security alert over Anthropic's Claude Code

China's industry ministry identified a serious security backdoor risk in Anthropic's Claude Code. The National Vulnerability Database warned of unauthorised data transmission from affected versions. NVDB advised that organisations and users should immediately review ⁠affected systems and either uninstall the impacted versions or upgrade to the latest secure release in…

The Economic Times

What is Meta's Muse Image? How to use Meta's new AI image generator, what it can do, where it's available and is it free?

Meta muse image: Meta has launched Muse Image, an advanced AI model for image creation. This new tool allows users to generate and edit visuals using text and photos. It integrates into Meta AI, enhancing apps like Instagram and WhatsApp. Muse Image offers sketch-based editing and new AI effects for…

The Economic Times

Maharashtra rains: Amit Shah dials CM Fadnavis, assures all help

Mumbai weather today: Union Home Minister Amit Shah spoke with Maharashtra Chief Minister Devendra Fadnavis about the state's heavy rainfall situation. He assured the Chief Minister of all possible assistance from the central government during their phone call. Mumbai experienced torrential rain, causing disruptions to local train services and inconveniencing…

The Economic Times

Regularisation fee deters Delhi's unauthorised colony residents from legalising properties

The MCD's property regularisation drive has seen minimal applications in two months. Many low-income residents find the high charges unaffordable for legalizing their homes. Officials are discussing reducing these charges with the Delhi government. There is no deadline, reducing urgency for residents to apply.

The Economic Times

NATO leaders meet in Ankara as US ceasefire with Iran teeters

NATO leaders aim to secure Donald Trump's commitment to the alliance. Trump expressed disappointment with allies over the Iran war and military spending. He also raised concerns regarding Greenland's status and Italian Prime Minister Meloni. NATO members are increasing defense spending and demonstrating solidarity. The summit declaration affirms a strong…

The Economic Times

PM Modi, Indonesian President Prabowo visit Prambanan Temple complex in Yogyakarta

Prime Minister Modi and President Prabowo inaugurated a joint conservation project at Prambanan Temple. This UNESCO World Heritage Site visit strengthens cultural ties between India and Indonesia. India's Archaeological Survey will lead the conservation and restoration efforts for the temple. The leaders toured the ancient site and reviewed project details…

The Economic Times

Opting for presumptive taxation while filing ITR? You may have to face tax audit; here's what you must know

The Income-tax Act, 2025 introduces a new audit trigger for businesses. This change clarifies audit requirements for low-profit businesses under presumptive taxation. Previously, ambiguity existed regarding mandatory audits for lower profit declarations. The new Act expressly links lower-than-presumptive profit declarations to mandatory audits. This amendment brings greater certainty to tax…

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