Top Losers in Today's Trading Session - 4th October 2024

Apple CEO Tim Cook recently discussed with U.S. Commerce Secretary Howard Lutnick how President Trump's tariffs might affect iPhone prices. The conversation highlights concerns over potential price increases for consumers due to these tariffs. Experts warn that products like iPhones could be significantly impacted by the taxes. Additionally, the Trump administration has announced a series of tariffs that have caused uncertainty in the global economy. While Apple chose not to comment, the administration emphasized that no exemptions were granted to any company, ensuring that firms continue to manufacture more in the U.S.

Apple, once a leader in China's smartphone market, is now facing tough competition. Its share dropped from 15.6% to 13.7%, placing it fifth behind local brands like Xiaomi and Huawei. In the first quarter of 2025, Apple shipped 9.8 million iPhones, a 9% decrease from the previous year. Xiaomi surged to the top, boosted by government subsidies that benefit budget-conscious consumers. These subsidies have expanded to include smartphones, encouraging shoppers to buy cheaper models. However, ongoing U.S.-China trade tensions may affect market demand and increase costs in the future.

OpenAI has introduced a government ID verification process for developers wanting access to its advanced AI models, likely aiming to limit competition from Chinese firms. This decision follows a report by Copyleaks which found that 74.2% of outputs from the Chinese AI model DeepSeek-R1 were similar to OpenAI’s work. The report raised concerns about transparency and ethical issues related to data sourcing. OpenAI stated that the verification is necessary to prevent misuse of its APIs. Once verified, developers can access various AI model summaries. The verification process supports identification from over 200 countries, although details on supported nations are not fully disclosed.

The Trump administration is planning to impose fees on Chinese ships docking at US ports, which could disrupt global shipping and escalate trade tensions between the US and China. These fees will be based on the volume of goods carried and will apply to all Chinese-built vessels. The initiative arises from concerns over national security related to Chinese shipbuilding. While this move may support the struggling US shipbuilding industry, it also raises concerns for American importers and farmers who rely on Chinese shipping for various goods. Critics argue that these fees could increase consumer prices and complicate trade.

Cities worldwide, like New York, London, and Paris, are testing ways to reduce traffic and improve air quality, despite concerns about personal freedom and economic impact. Early results show that measures such as congestion charges and lower speed limits are making a difference. For instance, New York's congestion pricing led to reduced travel times, while Paris implemented lower speed limits resulting in improved air quality and fewer accidents. Despite challenges, including pollution from non-vehicle sources, these cities are setting examples for others. The success of these initiatives suggests that urban areas can combat pollution effectively while encouraging public transport.

The Indian startup scene is undergoing a major shift. Surprisingly, no new unicorns—those billion-dollar startups—have emerged recently, raising questions about the current investment climate. Analysts suggest that this absence may reflect a maturing market, where investors are now more selective and cautious, focusing on startups that can demonstrate real profitability. Gaurav Dua from Mirae Asset Sharekhan points out that this slowdown is a natural correction after years of over-exuberance. Instead of rushing into new ideas, investors are reassessing previous investments. This period may not signal a decline but rather a time for strengthening foundations in the startup ecosystem.

Gensol Engineering, facing a severe crisis, saw its share price drop nearly 5% to Rs 117.50, reaching a 52-week low. The stock is now under strict surveillance due to financial mismanagement by its promoters, Anmol and Puneet Jaggi, who allegedly diverted Rs 262 crore meant for electric cars into personal expenses. The company has faced a staggering 87% decline in shares over the past year. Following regulatory actions, an independent director resigned, citing lack of clarity on the company’s debts. Gensol is now considering returning to its roots as a fleet operator for Uber in India, as it grapples with declining ride numbers in its EV cab service.

The sudden death of an Air India Express pilot from cardiac arrest after a Srinagar-Delhi flight has raised serious concerns. The Directorate General of Civil Aviation (DGCA) is investigating the incident, focusing on whether the pilot's illness was reported to Delhi Air Traffic Control (ATC) in time and if appropriate actions were taken by the crew. Conflicting reports suggest delays in medical assistance, with some claiming it took over half an hour, while the airport's medical team asserted they arrived within 10 minutes. The probe will also review the pilot's medical history and the airline’s precautions regarding flight health checks. This incident highlights ongoing issues around pilot fatigue and safety measures.

Great storytelling captivates us, whether through films or web series. As we enjoy these narratives, we often overlook the vital role of writers who create them. The article highlights the struggles writers face in the film and OTT industry, where they receive little recognition and pay compared to actors and directors. Despite their crucial contribution, many writers find it hard to make a living, juggling multiple projects to survive. The author hopes this reflection will encourage the industry to value good writing more, emphasizing that without strong scripts, even star-studded films can fail to engage audiences.

The JEE Main 2025 Session 2 results are out, and students can check their scores on the official NTA website. This competitive exam, crucial for engineering aspirants in India, took place from April 2 to April 9. Remarkably, 24 candidates scored a perfect 100 in Paper 1. To view their results, students need to log in using their application number and password. The exam covers an extensive syllabus based on NCERT for Classes 11 and 12, emphasizing the importance of deep understanding and consistent practice in subjects like Physics, Chemistry, and Mathematics.

Rain almost ruined the exciting match between Punjab Kings (PBKS) and Royal Challengers Bengaluru (RCB) on Friday, which was shortened to 14 overs. Led by Shreyas Iyer, PBKS secured a thrilling 5-wicket victory at Chinnaswamy Stadium, continuing RCB's struggle at home in IPL 2025. This win propelled Punjab Kings from the 4th to the 2nd position in the points table, overtaking Gujarat Titans. They now share the same points (10) with Delhi Capitals but have a lower net run rate, highlighting their need for better performance in upcoming matches.

India’s diagnostics industry is poised for impressive growth, with a projected increase of 14% annually over the next five years. This surge is driven by rising healthcare spending, an aging population, and greater awareness of preventive testing. The report by PhillipCapital indicates that organized diagnostic companies will likely grow faster than unorganized ones due to their advanced services. Currently, only 15% of the market is held by organized players, leaving vast opportunities for expansion. With the country lagging in per capita diagnostic tests compared to other nations, the demand for these services is set to rise significantly in the coming years.

One morning, Pradeep Jain received a mysterious call and a photo asking if he recognized the person. Ignoring it initially, he eventually clicked the image, which led hackers to access his phone and steal Rs 2.01 lakh from his bank account. This scam used a complex technique called steganography, which hides harmful data in seemingly harmless files like images and audio. Cyber experts warn that traditional antivirus tools often fail to detect such threats, making it crucial for users to stay cautious. Simple precautions, like avoiding unknown senders and keeping devices updated, can help protect against these sophisticated scams.

SEBI Chairman Tuhin Kanta Pandey has emphasized that the interests of the public will always take precedence over commercial gains when evaluating the NSE’s IPO application. Speaking at a Corporate Governance Summit, he highlighted the risks of corporate governance failures, which can destabilize the economy. Recently, SEBI took action against Gensol Engineering Ltd for fund mismanagement. Pandey advocates for robust governance frameworks to protect minority shareholders and maintain market integrity. He stressed the importance of balanced regulation that fosters growth while ensuring ethical corporate behavior, urging boards to go beyond routine compliance for better governance.

The Central Board of Indirect Taxes and Customs (CBIC) has updated its guidelines to reduce the harassment faced by taxpayers during the Goods and Services Tax (GST) registration process. Many applicants complained about being asked for unnecessary documents and clarifications. The CBIC has now instructed its officers not to ask for additional documents that are not essential and to avoid raising presumptive queries. It aims to streamline the registration process to ensure genuine applicants are not delayed or rejected unnecessarily. The new guidelines, which replace earlier instructions, also provide clear requirements for documentation, making it easier for businesses to register.

OpenAI has introduced Codex CLI, a new AI coding agent that can perform programming tasks on a user's terminal. This tool brings the capabilities of advanced AI directly to users, allowing for easier management of coding projects. Codex CLI works with macOS and Linux, while Windows support is still being developed. It offers different modes for editing code, such as Auto Edit and Full Auto, allowing users to choose how much control they want. OpenAI emphasizes privacy, ensuring that users' code remains secure. To encourage developers, they are also offering $1 million in API grants.

Microsoft’s latest Cyber Signals report reveals a worrying rise in AI-assisted scams targeting job seekers and online shoppers. Over the past year, the company has stopped $4 billion in fraud attempts, with scammers using advanced AI techniques to create fake job listings and e-commerce sites. They often impersonate real companies, making it hard for individuals to spot deceitful offers. The report emphasizes the importance of vigilance against scams, urging job seekers to avoid sharing personal information, be cautious of job payments, and communicate through official channels. For online shoppers, it advises against hasty purchases and highlights the need to verify advertisements and reviews.

Gold prices have surged to new heights as concerns over the trade war have caused market chaos. Recently, gold rose by 0.4% to $3,357.78 per ounce, following a significant gain of 3.5% the previous day. This rise is attributed to a declining dollar and warnings from Federal Reserve Chief Jerome Powell, who dampened expectations of quick economic relief. With tensions from the trade war and fears of a global recession, gold has increased almost 28% this year, making it a safe haven for investors. Analysts note that uncertainty around tariffs and potential interest rate drops have created the perfect conditions for gold to thrive.