India agrees on conditional nod for Starlink operations in country, CNBC-TV18 reports
(Reporting by Mrinmay Dey in Bengaluru; Editing by Nivedita Bhattacharjee)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
U-Blox says in talks about takeover by Advent
FILE PHOTO: A freeway intersection is seen in Pasadena, near Los Angeles, California, U.S., April 20, 2020. REUTERS/Lucy Nicholson/File Photo (Reuters) -Switzerland's U-Blox Holding, a maker of microchips and software for car navigation, said on Friday it was in talks with Advent International about being taken over by the private equity firm. "Whether a transaction will materialise is open at this stage," the company said in a statement. Advent declined to comment. Bloomberg reported the talks earlier, adding a deal might value U-Blox at more than 1 billion Swiss francs ($1.2 billion). U-Blox shares were up 19% at 1422 GMT at a three-year high, giving it a market value of about 1 billion francs. The technology group, which went public in 2007, said last week its first-half loss before interest and tax had reduced to 7.7 million francs from a loss of 28 million a year earlier. It cited cost cuts and a 32% jump in revenues to 123.4 million francs. Earlier this year, the company sold a unit making cellular modules for wireless communication to focus on fast-growing navigation and positioning technology used in cars, robots and farm equipment. Globally, dealmaking is up year-to-date, driven by a quest for growth in corporate boardrooms, falling interest rates in many countries, and the impact of a surge in AI activity. ($1 = 0.8048 Swiss francs) (Reporting by Ludwig Burger and Emma-Victoria Farr in Frankfurt. Editing by Rachel More and Mark Potter)
The Star
an hour ago
- The Star
Democrats decry move by Pentagon to pause $800 million in nearly done software projects
FILE PHOTO: The Pentagon building is seen in Arlington, Virginia, U.S. October 9, 2020. REUTERS/Carlos Barria/File Photo WASHINGTON (Reuters) -Democrats took aim at the Trump administration after Reuters reported on Wednesday that the Navy and Air Force were poised to cancel nearly completed software projects worth over $800 million. The reason for the move was an effort by some officials at the services to steer new projects to companies like Salesforce and Palantir, in what could amount to a costly do-over. 'The Pentagon has yet to show that it had a good reason for halting these contracts in the last inning and scrapping work American tax dollars have already paid for," Democratic Senator Tim Kaine said in a statement. "If it can't show its homework, then this announcement - just days after Palantir's CEO spoke at Mike Johnson's Wyoming donor retreat - reeks of corruption.' Punchbowl reported this month that Palantir CEO Alex Karp planned to address Republican House Speaker Mike Johnson's annual big-donor retreat in Jackson Hole, Wyoming. The Pentagon and Air Force did not respond to requests for comment. The Navy declined to comment. Trump officials have said the administration is striving to make the contracting process more efficient. The comments show growing concern among Democratic lawmakers over waste at the Pentagon, even as Donald Trump took office vowing to rid the government of waste and abuse. The website of the Department of Government Efficiency, the agency he created to spearhead those efforts, lists over $14 billion in Defense Department contracts it claims to have canceled. But seven months into his presidency, some of his own actions have complicated DOGE's work, from firing the Pentagon's inspector general to issuing an executive order prioritizing speed and risk-taking in defense acquisitions. 'If you're serious about cracking down on waste, fraud, and abuse, the last thing you'd do is cancel $800 million in projects that are nearly ready to roll out just to turn around and steer the same work to corporations of your choosing," said Democratic Representative Maggie Goodlander, who sits on the House Armed Services Committee and served as an intelligence officer in the United States Navy Reserve. "This maneuver is an insult to taxpayers and servicemembers across America," she added. Salud Carbajal, another House Democrat who sits on the Armed Services Committee, said the behavior was part of a pattern of waste at the Pentagon under Trump. 'I understand that our military's acquisition and procurement processes aren't flawless, but this administration has repeatedly shown a blatant disregard for the responsible use of taxpayer dollars,' said Carbajal, citing "lavish" military parades and "unnecessary" troop deployments in Los Angeles. Democratic U.S. Representative Jill Tokuda, who also sits on the committee, echoed Carbajal's remarks. "Stripping away critical oversight guardrails is unnecessary and downright reckless," she said, adding that after many delays, the Pentagon was finally poised to implement military pay systems that could pass an audit. "Taxpayers should not fund sweetheart deals for the well connected." (Reporting by Alexandra Alper; Editing by Andrea Ricci)
The Star
3 hours ago
- The Star
Meta plans fourth restructuring of AI efforts in six months, The Information reports
FILE PHOTO: Meta logo is seen in this illustration taken February 16, 2025. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -Meta is planning its fourth overhaul of artificial intelligence efforts in six months, The Information reported on Friday, citing three people familiar with the matter. The company is expected to divide its new AI unit, Superintelligence Labs, into four groups: a new "TBD Lab," short for to be determined; a products team including the Meta AI assistant; an infrastructure team; and the Fundamental AI Research (FAIR) lab focused on long-term research, the report said, citing two people. Meta did not immediately respond to a request for comment. Reuters could not independently verify the report. As Silicon Valley's AI contest intensifies, CEO Mark Zuckerberg is going all-in to fast-track work on artificial general intelligence — machines that can outthink humans — and help create new cash flows. Meta recently reorganized the company's AI efforts under Superintelligence Labs, a high-stakes push that followed senior staff departures and a poor reception for Meta's latest open-source Llama 4 model. The social media giant has tapped U.S. bond giant PIMCO and alternative asset manager Blue Owl Capital to spearhead a $29 billion financing for its data center expansion in rural Louisiana, Reuters reported earlier this month. In July, Zuckerberg said Meta would spend hundreds of billions of dollars to build several massive AI data centers. The company raised the bottom end of its annual capital expenditures forecast by $2 billion, to a range of $66 billion to $72 billion last month. Rising costs to build out data center infrastructure and employee compensation costs — as Meta has been poaching researchers with mega salaries — would push the 2026 expense growth rate above the pace in 2025, the company has said. (Reporting by Jaspreet Singh in Bengaluru; Editing by Alan Barona)
