Sam Altman’s ousting and possible return to OpenAI: What we know

https://www.livemint.com/news/i-am-so-back-sacked-sam-altman-on-reports-of-returning-as-openai-ceo-11700381546831.html

Here are top news of the week between 12-19 November that made headlines:

https://www.livemint.com/news/india/top-news-of-the-week-sam-altman-firing-uttarkashi-tunnel-collapse-world-cup-and-more-11700376745460.html

Indian star batter #ViratKohli has been awarded with the "player of the tournament" title in the ICC World Cup 2023 for his exemplary performance.

Kohli scored a total of 765 runs in 11 innings, the highest-ever runs scored by a batter in a single edition of the World Cup. He averaged at 95.62, and ended up with a strike rate of 90.3. #ICCCricketWorldCup2023Final #INDvsAUS

Read here: https://www.read.ht/RJso

Delhi has become the jewel in the crown of Groupe ADP’s portfolio after it recorded the highest passenger numbers among all the airports it controls.

Delhi handled more passengers than Paris CDG, the flagship of the group, in the first nine months of 2023.

https://www.livemint.com/industry/delhi-airport-is-turning-out-to-be-a-great-investment-for-groupe-adp-11700459691821.html#:~:text=Delhi%20has%20become%20the%20jewel,first%20nine%20months%20of%202023.

#PersonalFinance | Insurance companies such as Max Life, HDFC Life, Bajaj Life and ICICI Prudential Life offer ‘zero-cost’ term #insurance plans in which policyholders can foreclose the policy if they so wish and get all premiums refunded or continue the plan till maturity without any cashback benefit.

But, does it make sense for you to buy zero-cost term insurance?

Read here: https://www.read.ht/RJyp

#PersonalFinance | Car loans 🚗 are usually of three to five years but some lenders may offer loans for up to seven years too.

Don’t forget that a car is a depreciating asset, so taking a bigger loan may not be the best thing to do. But if you take a car loan for a short duration, the EMIs will be heavy and non-payment will mean a blot on your credit report.

Read here: https://read.ht/RJzb

#BreakingNews | #SamAltman and #GregBrockman, together with colleagues, will be joining Microsoft, CEO Satya Nadella has informed.

Read here: https://www.read.ht/RKAQ

#MintCharts | Aggregate revenue growth of consumer staples companies under Kotak Institutional Equities’ coverage fell to 5.2% in the September quarter (Q2FY24), marking a fall for the fourth straight quarter.

Growth was bogged down by price cuts. Moreover, price hikes in the base year are adding to the woes. Companies said that rural recovery is delayed.

More than 80% of the surveyed consumers find beauty products online highlighting the impact of social media on beauty purchases in India.

In fact, Meta’s Facebook and Instagram lead beauty product searches, as is reported by nine out of the 10 consumers surveyed by consumer research platform GWI.

https://www.livemint.com/companies/news/instagram-reels-dominates-beauty-purchases-in-india-11700417940550.html#:~:text=Instagram%20Reels%20plays%20a%20vital,Report%202023%2C%20commissioned%20by%20Meta.

#MintCharts | Indians visit #ATMs fewer times now than they did last year, and draw smaller amounts.

The number of cash withdrawals in ATMs dropped 6% in September 2023, compared to September 2022, while the total value of transactions fell 1.8%, according to the #RBI’s latest available numbers.

This is also reflected in the total currency in circulation, which has dropped by nearly ₹70,000 crore so far this fiscal.

Argentina elected right-wing libertarian #JavierMilei as its new president on Sunday, rolling the dice on an outsider with radical views to fix an economy battered by triple-digit inflation, a looming recession and rising poverty.

Read here: https://www.read.ht/RKVH

#PersonalFinance | Small-ticket personal loans have grown exponentially. This is driven by NBFCs & fintechs that offer loans on almost everything being sold online.

Read here: https://read.ht/RKXR

#PersonalFinance | Building a portfolio is a complex exercise, and it has to be maintained too. A person's portfolio holds different types of assets based on her financial goals, and each asset class gives different types of returns, which is why portfolio must have an ideal mix of financial products.

Here's a look at how four commonly used asset types-equity, cash, gold & fixed income-have done in different periods.

Dr #SSBadrinath, the founder of #SankaraNethralaya in Chennai, passed away at 83, leaving behind a legacy of accessible and quality eye care for the economically disadvantaged.

Read here: https://read.ht/RK3n

#JindalPower will not proceed with its bid to take over stressed domestic carrier #GoFirst, a report said, citing sources who are privy to the development.

https://www.livemint.com/companies/news/jindal-power-not-to-proceed-with-go-first-takeover-bid-says-report-deadline-ends-today-11700558344559.html

#Binance chief #ChangpengZhao has stepped down and pleaded guilty to breaking US anti-money laundering laws as part of a $4.3 billion settlement, one of the largest corporate penalties in US history.

Read here: https://www.read.ht/RKfy

#MintCharts | On 19 November, the world celebrated the 10th Women's #Entrepreneurship Day, an annual effort to bring to the fore the issues faced by women business leaders. The landscape for #women in the world of business is witnessing an improvement, with startups faring better than traditional corporates in representation of women at the top levels.

Check out today’s Plain Facts infographic that looks into how welcoming is the business world for women.

#PersonalFinance | Should it be mutual funds or the national pension scheme (#NPS)?

Most investors, particularly salaried individuals, are divided on their opinions. But, financial planners recommend the pension scheme because of the sheer tax advantage it enjoys over mutual funds. Now, with the flexibility to opt for periodic withdrawal of a lump sum at retirement, it bolsters their case even more.

Read here: https://www.read.ht/RKhh

#PersonalFinance | Bank fixed deposits (#FDs) continue to be popular investment products not just among senior citizens, who are looking for guaranteed income, but also among investors who can't stomach risk.

Here is a list of banks that offer the highest FD rates for deposits up to Rs 1 crore over various tenures.

#BreakingNews | #OpenAI's former CEO, #SamAltman is set to make a comeback, successfully thwarting a recent boardroom coup that had plunged the company into disarray over the past few days.

Altman is set to resume his position as the Chief Executive Officer, and the recently appointed board will be led by Bret Taylor. Other members include Larry Summers and Adam D'Angelo, as detailed in the company's statement on X.

Read here: https://www.read.ht/RKkF

#PersonalFinance | As a non-resident, the buyer is obligated to deduct tax at 20% on the computed long-term capital gains if you provide documentary evidence of the cost.

Got a question? #AskMint

https://www.livemint.com/money/personal-finance/does-a-non-resident-have-to-pay-tax-on-sale-of-property-in-india-11700592010495.html#:~:text=As%20a%20non%2Dresident%2C%20the,documentary%20evidence%20of%20the%20cost.