Newsletter | Ustad Zakir Hussain passes away at 73; Active vs Passive Investing & more – CNBC TV18
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Renowned tabla maestro and Padma Vibhushan awardee, Ustad Zakir Hussain, passed away on Sunday, December 15, at the age of 73.
Confirming the same on Monday, December 16, his family said Hussain succumbed to complications arising from idiopathic pulmonary fibrosis. He had been hospitalised for the last two weeks and his condition worsened before he was moved to the ICU. On Sunday, reports were suggesting he had been admitted to a San Francisco hospital for heart and lung-related ailments. Earlier, flautist Rakesh Chaurasia, a close friend of Hussain, had expressed concern about his health, saying, “He is unwell and admitted in the ICU. We are all deeply worried about the situation.”
Ustad Zakir Hussain — Rest in Rhythm
Why Citi sees 12% downside in the stock of India’s largest IT services firm
The shares of India’s largest IT services company Tata Consultancy Services (TCS) have given a return of 17% to its investors in 2024 (year-to-date), however, brokerage firm Citi is of the view that the tech stock can decline 12% hereon. The stock has also underperformed the sectoral index Nifty IT that rose almost 30% this year.
In its brokerage note on December 16, Citi maintained its sell call on TCS and set the target price at ₹3,935, implying it sees a potential downside of more than 12% in the tech stock. As the third quarter of the 2024-25 fiscal nears its close, the brokerage pointed out that TCS’ BSNL Project is expected to be stable or may slightly decline in the December 2024 ended quarter. It is likely to start tapering off post that, it said.
Reopened Sambhal temple represents truth of our history: CM Adityanath
As authorities reopened a temple in Sambhal locked since 1978 following communal riots, Chief Minister Yogi Adityanath on Sunday (December 15) said the temple did not reappear overnight and represents “our enduring heritage and the truth of our history”.
Speaking at a private event on Kumbh, the chief minister highlighted the tragic incidents that took place 46 years ago in Sambhal where innocent people lost their lives to “barbaric violence”, and questioned, “Why have perpetrators of the massacre not been brought to justice even after decades?” He criticised those who seek to “suppress the truth and tarnish cultural events” like the Kumbh, asserting that voices of truth often face threats and efforts to silence them.
How 26-year old whistleblower techie’s death could spell trouble for OpenAI globally
Suchir Balaji, a 26-year-old Indian-American and former researcher at OpenAI was found dead in his San Francisco apartment on November 26, with police confirming “no evidence of foul play” but no official cause of death yet.
His death comes amidst growing controversy, as his final blog post alleges that OpenAI violated US copyright laws during the development of ChatGPT — a claim that could have global repercussions for the company. Balaji’s detailed critique of OpenAI’s practices directly challenges the company’s reliance on “fair use” as a defence for training its generative AI models.
OpenAI’s legal battle with Elon Musk reveals internal turmoil over avoiding AI ‘dictatorship’
A 7-year-old rivalry between tech leaders Elon Musk and Sam Altman over who should run OpenAI and prevent an artificial intelligence “dictatorship” is now heading to a federal judge as Musk seeks to halt the ChatGPT maker’s ongoing shift into a for-profit company.
Musk, an early OpenAI investor and board member, sued the artificial intelligence company earlier this year alleging it had betrayed its founding aims as a nonprofit research lab benefiting the public good rather than pursuing profits. Musk has since escalated the dispute, adding new claims and asking for a court order that would stop OpenAI’s plans to convert itself into a for-profit business more fully. The world’s richest man, whose companies include Tesla, SpaceX and social media platform X, last year started his own rival AI company, xAI. Musk says it faces unfair competition from OpenAI and its close business partner Microsoft, which has supplied the huge computing resources needed to build AI systems such as ChatGPT.
Active vs Passive Investing: Which strategy is right for you?
Active and passive investing are two distinct approaches to managing investment portfolios, each with its own set of strategies, risks, and potential returns.
Active investing: A hands-on strategy
Active investing involves constant management, with fund managers or individual investors making decisions based on market research and analysis. The goal is to outperform the market by selecting securities expected to do better than the broader index. This strategy often involves higher fees due to more frequent trading and research costs. “Active investing usually involves higher costs due to higher management fees and transaction costs as compared to passive investing,” Ratish Gupta, Chartered Marketer at Wealth Wisdom India Pvt Ltd told CNBC-TV18, adding that offers the potential for higher returns but also comes with greater risks and cost.
Child education plans in India: A look at investment options available
Parents always look forward to getting the best of everything for their children, especially when it comes to education. The rising cost of education often leaves many concerned as they explore investment options to financially support their kid’s higher studies.
In India, child education plans are among the highly popular investment options to help you fund higher education expenses. These plans are long-term investments to help you save money for children’s education expenses over the policy term. As part of these schemes, parents are required to pay premiums on a monthly, quarterly, half-yearly, or annual basis, while they get a lumpsum amount at the time of maturity.
How skilling initiatives are shaping India’s workforce — insights from Coca-Cola INSWA HR head Irene Tan
As India accelerates toward its vision of becoming a “Viksit Bharat” by 2047, skilling has become a pivotal force in propelling economic growth and in addressing critical social challenges. This was also echoed in the Union Budget 2024-25 when it allocated ₹1.48 lakh crore for education, employment and skilling, with initiatives designed to address unemployment by integrating youth, women, and skilled workers into the labour force.
India, poised to reach 1.04 billion working-age individuals by 2030, stands on the brink of a significant demographic dividend. This underscores the urgency to seize this window of opportunity to maximize the potential of our workforce and drive economic growth. India’s demographic dividend is expected to persist at least until 2055–56 and will peak around 2041. However, without significantly increasing employment opportunities for women, there is a risk of undermining our potential for sustainable economic growth. Afterall, according to an ORF Study, providing equal opportunities for women could contribute an impressive US$ 770 billion to India’s GDP.
Mpox Outbreak — why it’s the right time to initiate vaccine production under BioE3 and Bio-RIDE
The recent mpox (formerly known as monkeypox) outbreak has caused over 800 deaths in the Democratic Republic of Congo (DRC) and over 11,000 laboratory-confirmed cases worldwide.
The World Health Organisation (WHO) declared mpox as a Public Health Emergency of International Concern (PHEIC) in August this year. Mpox is a self-limiting viral infection that can cause severe infections in certain groups including, malnourished children, pregnant women, and immunocompromised persons.
We’ll see you tomorrow with another edition of 11:11
