Artificial intel eating up jobs in e-commerce

Hiring in the e-commerce sector had shrunk last year due to funding and growth issues. Even if the growth returns to the peak levels, the sector does not expect hiring to get back to earlier levels as artificial intelligence and self-learning algorithms are increasing efficiencies in different e-commerce operations, thus reducing the need for manpower.

Google hires Indian origin Apple staffer to build processors

Internet search giant Google has hired Indian-origin engineer Manu Gulati, who was Apple's chip architect for iPads and iPhones, to play a key role in building its upcoming flagship pixel phone, according to media reports.
Gulati, who had worked at Apple for almost eight years as a micro-architect, announced the job change through LinkedIn. He is now the lead SoC architect for Google.
He has at least 15 Apple patents related to chip design under his belt and will be key in Google’s plan to build its own processors, a CNBC reported.

Centre to bring down stake in MSTC to 64%

The Centre will bring down its stake in mini-ratna company MSTC to 64 per cent, from 89.85 per cent, in the current round of divestment plan. The government will dilute nearly 0.88 crore shares from its holding of 3.13 crore shares post a 1:1 bonus issue. The revised paid-up capital of MSTC stands at Rs 35.2 crore.
“The government has decided to divest shares equal of 25 per cent of the total capital of the company (MSTC) through offer of sale,” said MSTC director, finance, AK Basu in Kolkata on Thursday.

Three Wines That Should Always Be In Your Fridge

Julia Child always kept a half bottle of Champagne in the refrigerator so she had something to sip on (and keep herself enthused) while cooking. Me too—but I’ve expanded her advice. I always have three bottles of wine on my fridge door shelves. So should you.

London tower block fire toll rises to 17, more feared dead

The death toll in a fire that ripped through a 24-storey block of flats in London rose to 17 on Thursday, with many people still missing and firefighters facing hazardous conditions as they searched the charred wreck.

Smoke was still wafting out of the shell of the Grenfell Tower on Thursday, and a Reuters cameraman saw a big piece of building cladding fall from the building.

Fire engulfed the social housing block in the early hours of Wednesday, turning it into a flaming torch in minutes.

Nintendo Reveals New Games For Switch

Nintendo Co announced a slate of new titles for its new hybrid console Switch, moving to capitalise on early excitement for its newest video-game system.
A Pokemon role-playing game for the Switch is in development, Kyoto-based Nintendo said Tuesday on a webcast at the start of the industry’s annual Electronic Entertainment Expo in Los Angeles. The company and Ubisoft Entertainment SA will introduce a new Super Mario game only for Switch on August 29. Other titles include Switch versions of popular games such as Metroid and Rocket League. Many new products will be multiplayer.

BenevolentAI on hiring spree amid UK boom

Drug discovery startup BenevolentAI has begun a major hiring spree, as it seeks to take advantage of the current boom in the UK’s artificial intelligence and machine learning sector.
The London-based startup, valued at $1.7 billion according to data firm CB Insights, is seeking to hire 50 new staff across AI, data science and bioinformatics, software engineering and medicinal science.

Bonds rebound, call rates turn lower

Government bonds (G-Secs) rebounded on fresh buying support from banks and corporates.
While, the overnight call money rates turned lower at the money market due to lack of demand from borrowing banks amid ample liquidity in the banking system.
The 6.79 per cent government security maturing in 2027 regained to Rs 102.1450 from Rs 101.9750 yesterday, while its yield edged down to 6.49 per cent from 6.52 per cent.
The 6.97 per cent government security maturing in 2026 rose to Rs 102.2700 from Rs 102.20, while its yield inched down to 6.64 per cent from 6.65 per cent.

Online brands tap fledgling rural mkt

E-commerce brands cutting across apparels and medicines are now expanding services beyond tier II and tier III towns. For some of the leading players, the rural market, which is tier-III and beyond, has started contributing anything between 55 and 75 per cent of order volumes.