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Musk unveils Grok 4 AI chatbot after antisemitism controversy
- Elon Musk’s xAI launched Grok 4 just days after the previous version sparked backlash for antisemitic and offensive posts
- Musk claims Grok 4 surpasses PhD-level expertise in every subject and outperforms leading AI competitors on academic benchmarks.
- Grok 4 is available through a new $300/month premium subscription, targeting users needing advanced scientific, coding, and analytical capabilities.
- The launch event focused on Grok 4’s intelligence and future potential, with Musk predicting it could discover new technologies and even "new physics" within two years.
- xAI removed controversial system prompts and offensive posts from Grok 3, but Musk and the team did not directly address the controversy during Grok 4’s launch.
Major Rule Changes from Today: UPI Limits, LPG Price Update, SBI Card Insurance, and More
- UPI users can now check their balance only 50 times per app daily; stricter API limits apply.
- Scheduled UPI Autopay transactions will be processed only during non-peak hours to reduce failures.
- LPG commercial cylinder prices have dropped; household cylinder prices remain unchanged as of today.
- SBI Cards will discontinue complimentary air accident insurance on select credit cards, affecting many customers.
- Possible changes in CNG/PNG prices and banking holidays can affect your monthly budgeting from today.
ED Summons Anil Ambani on August 5 Amid Raids in Odisha and Bengal Over Loan and Fake Guarantee Fraud
- The Enforcement Directorate (ED) has summoned Anil Ambani to appear for questioning on August 5, 2025, in Delhi.
- Ambani faces an alleged ₹17,000-crore loan fraud probe involving improper loans and suspected money laundering.
- ED conducted fresh raids at three locations in Bhubaneswar and one in Kolkata, targeting Ambani-linked firms.
- Agencies allege that Ambani’s group secured an Odisha contract using a fake ₹68.2-crore bank guarantee.
- Investigators uncovered undisclosed bank accounts, suspicious crores-rupee transactions, and forged documents during searches.
Rupee Recovers Slightly After Hitting Five-Month Low on Trump’s Tariff Shock and RBI Intervention
- The rupee dropped to a five-month low at 87.69/$ on Thursday following Trump’s 25% tariff announcement on Indian exports.
- Fears of aggressive RBI intervention arose, but the central bank intervened selectively to limit excess rupee volatility.
- Persistent foreign investor outflows and high crude oil prices further pressured the currency and stock markets.
- Exporters are advised to hedge positions, while importers await favorable rates amid expected rupee fluctuations.
- The government is assessing the tariff impact, as traders expect continued rupee volatility until a US-India trade deal is finalized.
US Slaps 25% Tariffs on Indian Exports, Faces Criticism for Own Steep Duties
- The US imposes a 25% tariff on all Indian goods from August 1, 2025.
- President Trump calls India the “tariff king,” accusing it of high tariffs and barriers.
- WTO data reveals the US applies up to 350% tariffs on items like tobacco and dairy.
- US tariffs target key Indian export sectors, with added penalties for Russia-related trade.
- Economic experts warn these actions may reduce India’s GDP and strain bilateral ties.
US Imposes 25% Tariff on Indian Imports: Major Export Sectors Hit as Trade Tensions Escalate
- The US will impose a 25% tariff on most Indian exports from August 1, 2025.
- Key sectors affected include textiles, electronics, auto components, jewellery, and processed foods.
- Pharma and semiconductors are spared, but major exporters brace for significant US demand loss.
- The move is a response to India's high tariffs and continued imports of Russian oil and defense goods.
- Experts warn India could lose $30b in GDP, with trade talks planned to mitigate the impact.