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E-Commerce Firms Face More Hurdles in Maharashtra, Assam

New rules from the governments of Maharashtra and Assam have created additional hurdles for e-commerce and transport operators, including those delivering food, groceries and other essential supplies. The Maharashtra government, in a notification on Wednesday, said drivers and helpers of all goods carriers entering the state must carry a negative RT-PCR certificate that is less than 48 hours old, and that it will be valid for only seven days. The new rules also say that a cargo carrier cannot have more than two people. Meanwhile in Assam, though the government…

Elon Musk says Tesla will Stop Accepting Bitcoin for Car Purchases, Citing Environmental Concerns

Tesla CEO Elon Musk said Wednesday on Twitter that Tesla has “suspended vehicle purchases using bitcoin,” out of concern over “rapidly increasing use of fossil fuels for bitcoin mining.” The price of bitcoin dropped about 5% in the first minutes after Musk’s announcement. In an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin and it may invest in more of bitcoin or other crypto currencies in the future. At that time, the company said it would start accepting bitcoin as a payment method for…

RBI grants PPI authorisation to Eroute Technologies

The Reserve Bank of India (RBI) has granted authorisation to Eroute Technologies to operate as a prepaid payment instruments (PPI) company. The RBI issued authorisation on May 10, 2021, to Eroute Technologies Pvt Ltd with perpetual validity to commence issuance and operations of semi-closed pre-paid instruments in the country, the company said in a statement on Wednesday. The Noida-based firm said the RBI authorisation will enable it to launch its payment solutions at scale independently unlike neo banks and other bank-led fintech companies. PPIs are instruments that facilitate purchase of…

Amazon wins $303 million tax case in European Union

Brussels: Europe’s second-top court on Thursday annulled an EU order to Amazon.com Inc. to pay about €250 million ($303.28 million) in back taxes to Luxembourg, part of an EU crackdown against unfair tax deals between multinationals and European Union countries. The Luxembourg-based General Court said Amazon had not enjoyed a selective advantage in its tax deal with Luxembourg. “The Commission did not prove to the requisite legal standard that there was an undue reduction of the tax burden of a European subsidiary of the Amazon group,” judge said. The European…

Princeton Alum’s Startup Raises $51 Million to Help People Plan for An Easy Retirement

Are you aware that you could boost your retirement outlook by using this new startup’s no-cost service? SmartAsset’s free, five-minute tool makes it easy to find qualified financial advisors in your area or who serve your area. Our exclusive tool matches you with up to three fiduciary financial advisors who have passed a rigorous vetting process. Unlike broker-dealers, stockbrokers and insurance agents, fiduciary advisors are legally bound to work in your best financial interest. With over 110 million Americans over age 50, it’s no wonder this Princeton alum’s startup has…

Self-Driving Truck Startup Plus to Go Public Through $3.3 billion SPAC Deal

Plus said on Monday it would go public through a merger with blank-check company Hennessy Capital Investment Corp. V in a deal that values the self-driving truck technology startup at $3.3 billion. The combined company will get proceeds of $500 million from the deal, including a private investment of $150 million. Investors in the deal include BlackRock and D.E. Shaw group, among others. In February, Plus raised $200 million in a funding round, co-led by brokerage Guotai Junan International and private equity firm CPE, according to data from Pitchbook. Founded…

It Began as an AI-Fueled Dungeon Game. It Got Much Darker

The game touted its use of the GPT-3 text generator. Then the algorithm started to generate disturbing stories, including sex scenes involving children. IN DECEMBER 2019, Utah startup Latitude launched a pioneering online game called AI Dungeon that demonstrated a new form of human-machine collaboration. The company used text-generation technology from artificial intelligence company OpenAI to create a choose-your-own adventure game inspired by Dungeons & Dragons. When a player typed out the action or dialog they wanted their character to perform, algorithms would craft the next phase of their personalized,…

The Statistical Secrets of Covid-19 Vaccines

They’re really very good, and they’re the only way out of the pandemic. But a tour through the numbers could bring the vaccine-hesitant into the tent. THE CREATION AND distribution of vaccines against Covid-19 has been as close as science gets to a miracle—the culmination of centuries of infectious disease research, a mastery of viral genomics, the creation of a whole new kind of vaccinology, and speed in the face of crisis. So it’s weird that even as the global pandemic worsens (infection and death rates have gone vertical in…

Jay-Z Joins Twitter CEO Jack Dorsey’s Board of Directors for Company ‘Square’

A celebrity has just joined the board of directors of one of the up and coming companies started by Twitter CEO Jack Dorsey. While Jay-Z has been active in the business world and is still a well known rapper, the recent seat still comes as a surprise. Jay-Z Joins Jack Dorsey’s Square According to the story by CNet, Square, a certain mobile-payments company that is reportedly owned by Twitter CEO Jack Dorsey, has just added Jay-Z to the company’s official board of directors. The board of directors are critical to…

Cognizant Attrition High Time, Impacting Revenue

Even as Cognizant has made offers to 28,000 campus hires for onboarding this year, the company’s attrition rate continues to stay very high, compared to those of its Indian peers. Some of the latter are seeing these rates decline, but Cognizant’s has risen in the past two quarters and has hovered in the range of 18%-24% for the past nine quarters. In the latest quarter, the company’s attrition rose to 21%, translating to about 15,600 employees leaving the firm. It was 19% in the preceding quarter and was 24% in…