Business News Today: OpenAI, Tesla, and the Rise of Risky Real Estate Bonds
Get the latest updates on OpenAI's potential transition to a public benefit corporation, Tesla's unusual approach to employee sick leave, and the surprising performance of risky real estate bonds.
OpenaiTeslaReal Estate BondsNvidiaMark ZuckerbergMetaverseJan Vishwas 20Business NewsReal EstateSep 29, 2024
In other news, Tesla has been making headlines for its unusual approach to employee sick leave. The company has been visiting the homes of employees who call in sick to verify their absence, a move that has been met with criticism and even threats to call the police.
Meanwhile, in the world of finance, risky real estate bonds are beating the returns of Nvidia stock, the darling of the AI craze. Hybrids, the riskiest slice of real estate debt, have returned over 75% this year, outperforming Nvidia by 20 percentage points.
Other news includes the Japanese cities selling metals taken from cremated remains, with some cities making as much as $45 million in 2023. The ashes of the cremated can sometimes contain valuable metals like gold and palladium from dental fillings, or titanium from bone implants.
In India, the government is working on a new bill to further improve the ease of doing business by decriminalizing minor offenses. The Jan Vishwas 2.0 bill is expected to build on the success of the current Jan Vishwas Act, which decriminalized minor offenses across 42 central acts and eliminated 183 criminal provisions across 19 ministries/departments.
Mark Zuckerberg's net worth has also crossed $200 billion, thanks to the success of Meta's Orion glasses. The glasses have propelled Meta shares to a record high, supporting Zuckerberg's Metaverse bet, which initially looked like a mistake.
Reliance's Viacom18 has received government approval to transfer its non-news and current affairs TV channel licenses to Disney's Star India as part of their merger.
The price of gold and silver has also been updated, with the price of 10 gm of 24 carat gold at Rs. 77573.0/10 grams in Delhi, and 1 kg of silver at Rs. 98100.0/Kg in Delhi.
Lastly, a lawyer who defended 'El Chapo' is now using her narco-fame to launch a music career. The Puerto Rican daughter of a music director grew up listening to Mexican ballads and always wanted to be a singer, but her family pushed her towards a law degree.
Companies like Hyundai, Swiggy, and NTPC Green Energy are also looking to raise around ₹60,000 crore through IPOs in the coming months.
Frequently Asked Questions
What is a public benefit corporation?
A public benefit corporation is a corporate structure that allows a for-profit entity to also commit to pursuing goals of bettering society.
Why is Tesla visiting the homes of employees who call in sick?
Tesla has been visiting the homes of employees who call in sick to verify their absence, a move that has been met with criticism and even threats to call the police.
What is the performance of risky real estate bonds?
Risky real estate bonds, specifically hybrids, have returned over 75% this year, outperforming Nvidia by 20 percentage points.
What is the Jan Vishwas 2.0 bill?
The Jan Vishwas 2.0 bill is a proposed legislation that aims to further improve the ease of doing business by decriminalizing minor offenses.
What is the current price of gold and silver?
The price of 10 gm of 24 carat gold is Rs. 77573.0/10 grams in Delhi, and 1 kg of silver is Rs. 98100.0/Kg in Delhi.
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