AI researcher and OpenAI co-founder Andrej Karpathy announced his departure from the Microsoft-backed company on social media. He plans to work on personal projects after playing a key role in developing artificial intelligence and driver assistant technology at Tesla. Karpathy's ideas on large language models as a new form of computer operating system have gained attention.

Indian equity indices opened lower due to global worries about delayed rate easing after US inflation exceeded expectations. Nifty and Sensex dropped with sectors like Banking, IT, Pharma, and Healthcare falling 1-2%. However, Adani Green Energy and National Aluminium Company saw a rise in stock value. Major factors for today's market crash include global market fall, rise in dollar and more.

Veteran investor Ashish Chugh recently sold a small stake in Sparc Electrex and another company, while also buying shares in three other companies. The total value of the transactions amounts to around Rs 457 crore. Chugh significantly reduced his stake in Sparc and another company, while TA FDI Investors sold the majority of their shares in one of the companies.

Founders Fund, led by billionaire Peter Thiel, is investing in bitcoin and ether once again, signaling renewed interest in cryptocurrency. In 2022, the fund purchased $200 million in crypto tokens after liquidating their bitcoin holdings. The move highlights a comeback for the industry after suffering from regulatory crackdowns and crashes in 2022.

MCX, a commodity derivatives exchange in Mumbai, faced technical issues and had a delayed start to trading on Tuesday. This was due to slow processing of backend files for members. The issue is being investigated and the exchange recently switched software vendors. This delay has affected trade volumes for popular products such as crude oil, gold, and steel.

The HVAC market in India is projected to reach $21.5 bn by 2028, with a projected CAGR of 14.5% during forecast period of 2025-2029. ACREX India Expo, featuring over 500 exhibitors from 40 countries, will showcase country's manufacturing prowess. With increasing demand for energy-efficient systems and the government's focus on self-reliance, the HVAC industry is expected to see significant growth.

LG Energy Solution, an important player in the global lithium market, has signed a second deal with Australian company WesCEF to secure a supply of 85,000 tons of lithium concentrate. This is part of LG's plans to expand its presence in India's electric vehicle market and increase its global supply chain. The lithium will be sourced from WesCEF's Mt. Holland project in Western Australia.

The IPO for Aplex Solar, an SME, received a huge response from investors, subscribing over 303 times the issue on the last day of bidding. Allotment is expected to be finalized on January 13 and can be checked online using an application number and PAN on the BSE or Skyline Financial websites. The grey market premium for Aplex Solar has decreased to ₹150 per share.

4 independent directors of Binny reached a settlement with SEBI, paying over Rs 42 lakh collectively, without admitting or denying allegations of misappropriation of funds. The directors failed in their duties as Audit Committee members and acted on behalf of management instead of shareholders' interests. After multiple court dismissals, SEBI approved their revised settlement terms in Dec 2023.

Nuvama Wealth Management, formerly known as Edelweiss Securities, reported a 97% increase in net profit to ₹178 crore in the December quarter. The growth was driven by increased revenue from fee-based businesses and a one-time income of ₹40 crore from the demerger of their investment banking arm. The company's expenses also rose, by 21%, but the overall result was still impressive.

The IRDAI has proposed an electronic insurance marketplace called Bima Sugam, which will bring insurers, policyholders and intermediaries together on a common digital platform. This platform will facilitate the sale, purchase, servicing, claim settlement, and grievance redressal of life, health, and general insurance policies without any additional fees for customers.

Lyft Inc. experienced a surge in stock value after positive forecasts surpassed expectations, but faced a setback when it revealed a mistake in margin projection, causing share values to drop 17%. Despite this, Lyft reported strong Q4 results, with increase in active riders and revenue reaching $1.22 billion. The company aims for operational excellence and expects positive free cash flow by 2024.

Axis Bank & Muthoot Microfinance have joined forces with Yubi to provide lending services to microfinance institutions. Axis Bank will use Yubi's platform to diversify its portfolio, while Muthoot Microfin will handle sourcing and collection. This partnership will benefit the MFI sector and both companies.

The going has always been good for non-resident Indians (NRIs), particularly those based out of the United Arab Emirates (UAE). For one, they do not have to pay any income tax in that country. Two, they can also take advantage of a double taxation avoidance agreement (DTAA) signed between the UAE and India, and thus avoid capital gains taxes on investments made here, say financial experts.

Standard Chartered, one of the largest European banks operating in emerging markets, is considering restructuring its institutional banking arm to improve returns. This could involve separating its IB from its corporate and commercial banking operations and potentially lead to job cuts. The move, still under consideration, is part of CEO Bill Winters' efforts to boost the bank's performance.