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May 4: Stock market breaks down around 1%, pharma shares fall – every big news

On Tuesday, May 4, the Indian stock market remained in the red mark with a fall. The BSE Sensex and the NSE Nifty index were down around 0.95% at…

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Hinduja Global Solutions Shares: What cause 20% decline in shares of leading IT Services Management Company, here explained

On Tuesday, May 4, the Indian stock market remained in the red mark with a fall. The BSE Sensex and the NSE Nifty index were down around 0.95% at the time of closing the market amid volatility. Almost all the sector-based indices saw a decline due to Kovid’s concerns. Let’s see what is important in the market

The Sensex closed around 48,250 due to weakness. Similarly, the Nifty 50 index has also come down to 14,500 now.

Big business talk on May 4

The BSE Sensex weakened 465 points, while the NSE Nifty 50 index lost 137 points.

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At the time of closing the market, 21 out of 30 stocks of the Sensex pack remained in the red Stock market. 50 shares of the Nifty pack rose 16.

Hindalco, Tata Steel and SBI Life Insurance shares made their 52-week peak in the Nifty Pack.

Reliance stock lost for the second consecutive day despite good quarterly results. The stock closed down 2.10% in the NSE.

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The Nifty Smallcap 100 and Nifty Midcap 100 indices also remained in the red Stock market like the Nifty. The midcap index lost 0.4% while the smallcap index lost 0.9%.

The Volatility Index (VIX) has reached 22.99 after falling 2.95%.

Market movements

Nifty

Open – 14,687.25
Close – 14,496.50
Variations – (-0.94%)
High – 14,723.40
Lo- 14,461.50

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Sensex

Open – 48,881.63
Close – 48,253.51
Variations – (-0.95%)
High – 48,996.53
Lo- 48,149.45

What is the reason for the decline in the market?

Byers had a clear hold in the Stock market most of the time amidst considerable volatility. Investors are worried about the decrease in economic activity due to rising Corona cases. Weak signs of various foreign markets also supported the weakness in the market. Investors are largely satisfied with the fourth-quarter results, but the current restrictions will affect the performance of companies. Profit booking by foreign institutional investors continues.

Which sector did how well?

All the sector-based indices of the Nifty remained in the red mark on Tuesday. The decline in Nifty Bank, Auto, IT, Financial Services, FMCG, Metal and Realty indices ranged from 0.5% to 1%. The pharma sector was the weakest, losing 2.02%. At the same time, the energy sector closed down 0.2%.

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Nifty-50 shares seen the fastest in these stocks

SBI Life Insurance (+ 2.65%)
ONGC (+ 1.57%)
BPCL (+ 1.44%)
Adani Ports (+ 0.87%)
Bajaj Finance (+ 0.78%)

These shares of Nifty-50 are broken.

Tata Consumer (-4.30%)
Cipla (-3.13%)
Dr. Reddy Labs (-2.12%)
Reliance (-2.10%)
Divis Labs (-2.03%)

Stocks that remain most active

According to Value, Bajaj Finance, Tata Steel, and Adani Ports were the three most active stocks in the Nifty. SBI, Tata Motors, and Adani Ports dominated the Stock market by volume.

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What is the signal for next

The constantly growing Corona cases can be worrying for the Stock market. Investors will also be watching the fourth-quarter results for the next few days. Investors should trade with caution.

Passionate news enthusiast with a flair for words. Our Editorial Team author brings you the latest updates, in-depth analysis, and engaging stories. Stay informed with their well-researched articles.

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More Trouble For Microsoft, OpenAI: Eight US Newspaper Publishers File Lawsuit For Copyright Infringement

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More Trouble For Microsoft, OpenAI: Eight US Newspaper Publishers File Lawsuit For Copyright Infringement

Trouble for Microsoft and OpenAI over copyright infringement is not coming to an end, as they face several lawsuits for violating copyrights.

On Tuesday, eight US newspaper publishers sued Microsoft for illegally reusing articles in AI products.

The 98-page long lawsuit further accused the tech companies of attributing erroneous information to the publishers.

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The eight newspapers that have filed the lawsuits include the New York Daily News and the Chicago Tribune.

They allege that OpenAI’s ChatGPT used their copyrighted articles to perfect its language models without permission.

The lawsuit was filed in a New York federal court on Tuesday. The publishers claim that OpenAI’s large language models, GPT-2 and GPT-3, were perfected using datasets containing text from their newspapers.

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The language models are designed to produce text based on human inputs and reproduce copies of the publishers’ works. Microsoft has been indicted for using newspapers for its Bing search index but seldom provided links to the original articles. Four months ago, The New York Times also filed a lawsuit against OpenAI, accusing the tech giant of using data from its past content. It also asked for consent for usage, criticizing the use of full article excerpts in chatbot responses.

The latest lawsuit filed by the eight news outlets also demanded consent and fair value for using their content to perfect the AI language models. The lawsuit alleged that the AI tools literally regurgitate their content without directing users to the content source.

The lawsuit filings stated, “This lawsuit arises from defendants purloining millions of the publishers’ copyrighted articles without permission and without payment to fuel the commercialization of their generative artificial intelligence products, including ChatGPT and (Microsoft’s) Copilot.”

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The eight newspapers that instituted the lawsuits are as follows:

  • The New York Daily News and The Chicago Tribune, both owned by Alden Global Capital
  • The Orlando Sentinel
  • The Sun Sentinel
  • The San Jose Mercury News
  • The Denver Post
  • The Orange County Register
  • The St. Paul Pioneer Press

OpenAI’s Response

OpenAI did not directly respond to the accusations but stated that it takes great care to support the news and media outlets. It also stated it is in continuous partnerships and conversations with various news outlets around the world to explore new opportunities, discuss problems, and seek out solutions.

Microsoft also stated that OpenAI has entered into fruitful partnerships with a number of publishers, which includes The Financial Times, The Associated Press, Spanish conglomerate Prisa Media, and Germany’s Axel Springer.

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Alan Patricof Net Worth 2024: How Much is the American Investor Worth?

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Alan Patricof Net Worth 2024: How Much is the American Investor Worth?

Who is Alan Patricof?

Alan Patricof is a prominent figure in the American investment landscape, renowned for his contributions to venture capital. With a career spanning over four decades, Patricof has been instrumental in shaping the growth of numerous global companies, including America Online, Apple Computer, and Audible. His legacy extends beyond business, with involvement in community organizations and government initiatives.

Alan Patricof Career

Alan Patricof’s career in venture capital began in the industry’s early days. He founded Patricof & Co. Ventures Inc., a precursor to Apax Partners, one of the world’s leading private equity firms. Later, he established Greycroft Partners, focusing on early and expansion-stage investments in digital media. Throughout his career, Patricof’s vision and leadership have played a pivotal role in advancing the venture capital field.

Alan Patricof’s Net Worth

As of May 3, 2024, Alan Patricof’s estimated net worth stands at over $1 million. His wealth is derived from various investments, including holdings in Boston Properties Inc. and successful ventures in digital media. Despite humble beginnings, Patricof’s entrepreneurial spirit and strategic acumen have propelled him to financial success.

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Alan Patricof Age

Born in 1934, Alan Patricof is currently in his late eighties. Despite his advanced age, he remains active in the business world, leveraging his wealth of experience to mentor emerging entrepreneurs and drive innovation.

Alan Patricof Family: Wife and Children

Alan Patricof has been married to his wife Susan for over 48 years. Together, they have three children and seven grandchildren. Family holds great importance to Patricof, and he credits his upbringing and heritage for shaping his values and work ethic.

Alan Patricof Height and Weight

While specific details about Alan Patricof’s height and weight are not readily available, his stature in the investment community is undeniable. Patricof’s impact transcends physical measurements, as he continues to leave a lasting legacy in venture capital and philanthropy.

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Also Read: Mike Markkula Net Worth 2024: How Much is the Former CEO of Apple Worth?

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Net Worth

Stephen M. Ross Net Worth 2024: How Much is the Chairperson of The Related Companies Worth?

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Stephen M. Ross Net Worth 2024: How Much is the Chairperson of The Related Companies Worth?

Who is Stephen M. Ross?

Stephen M. Ross, the Chairperson of The Related Companies, is a distinguished figure in the real estate sector, renowned for his significant contributions and profound impact. Born on May 10th, 1940, in Detroit, Michigan, Ross embarked on his journey into real estate at a young age, demonstrating remarkable diligence and entrepreneurial spirit. Despite initially pursuing a career as a tax attorney, Ross soon discovered his genuine passion for real estate investment, laying the foundation for his illustrious career.

Stephen M. Ross Career

Ross’s career trajectory is marked by pioneering ventures and transformative projects. In 1972, he founded The Related Companies, which initially focused on subsidized low and moderate-income apartments. Over the years, Ross transitioned to higher-profile projects, including the iconic Hudson Yards development, valued at over $7 billion. His visionary approach and strategic partnerships have cemented his reputation as a prominent figure within the real estate industry.

Stephen M. Ross Net Worth

As of 2024, according to Celebrity Net Worth, Stephen M. Ross’s net worth stands at an impressive $10 billion, solidifying his status as one of the wealthiest individuals globally. Ross’s wealth accumulation is attributed to his unparalleled success as a real estate mogul, with an estimated annual income of nearly $700 million derived from royalties on his diverse property holdings. His continued involvement in the real estate sector, with ongoing projects in New Jersey and Florida, further contributes to his substantial net worth.

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Stephen M. Ross Age

Currently, Stephen M. Ross is 83 years old, born on May 10th, 1940. Despite his age, Ross remains actively engaged in his professional pursuits, demonstrating resilience and dedication to his craft.

Stephen M. Ross Family: Wife and Children

Ross’s personal life is characterized by familial bonds and enduring relationships. He is happily married to Kara Ross and is the proud father of four children. Ross’s commitment to family values underscores his holistic approach to life and business.

Stephen M. Ross Height and Weight

Physically, Stephen M. Ross stands at a height of 6 feet 2 inches (1.88m) and maintains a healthy body weight of around 72 kg. Despite his busy schedule, Ross prioritizes his health and well-being, engaging in activities such as volleyball and tennis.

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Also Read: Dave Ramsey Net Worth 2024: How Much is American Radio Personality Worth?

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