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By Andy MukherjeeIndia’s fragile financial system is swinging between despair and hope. Two separate incidents — both featuring the lender Yes Bank Ltd. — recently underscored the drag of past underwriting follies as well as the lift from a digital reset. It will take time, but good things will come to Indian banking as a result of the present crisis.Start with the sudden default by financier Altico Capital India Ltd. on a 199.7-million-rupee ($2.8-million) interest payment to Abu Dhabi-based Mashreqbank PSC. Clearwater Capital Partners-backed Altico, which borrows money from banks and mutual funds to make loans to property developers, called the situation a “liquidity crisis.” And that made Yes Bank investors gloomy.Based on January data, the midsize Indian bank had a 4.5-billion-rupee exposure to Altico, the third-highest after Mashreq and HDFC Bank Ltd. While HDFC Bank, the country’s most valuable lender, has the capital — and current profit — to take the occasional credit hit, Yes’s capital cushion is already frayed by dodgy loans to beleaguered shadow banks and troubled tycoons. Read more
A top Oracle cloud executive said its unexpected alliance with Microsoft , first announced in June, will turn the two giants into stronger competitors against Amazon. Clay Magouryk, who is a senior VP on the team building Oracle's cloud infrastructure, said working with Microsoft would help customers seamlessly set up and run their networks on either Oracle or Microsoft's platform. He said the multicloud model is the future of cloud computing, saying, "The idea that everything can run in one cloud is just not true." He said while Oracle is not a dominant player in cloud infrastructure, the company's huge customer base gives it an enormous advantage. Click here for more BI Prime stories. A top Oracle executive said Monday that the tech giant's new alliance with Microsoft , announced in June, will turn the one-time bitter rivals into stronger competitors against Amazon Web Services, their common cloud foe. Clay Magouryk, an Oracle senior vice president, says the tech behemoths remain competitors, but the alliance simply makes so much business sense. "Do they love us? Read more
The retreat for power players featured in the latest episode of HBO's "Succession" is based on a very real " billionaires summer camp " in Idaho, and the annual guest list includes names like Jeff Bezos, Warren Buffet, and Bill Gates. While the Roy family endured a PR nightmare in the midst of an acquisition attempt at the fictional conference, the real-life Allen & Co. Sun Valley Conference often spurns major media and tech mergers and deals . One joke in the episode, titled "Argestes," is that everyone has to wear name cards, even Mark Zuckerberg. That's just one of the references that ring true. Warning: "Succession" spoilers ahead. Visit Business Insider's homepage for more stories . In season 2, episode 6 of HBO's billionaire family dramedy "Succession," the Roys attend a media and banking retreat. The Roy family is aiming for an acquisition, but end up dealing with an unexpected bout of bad press. The setting is a conference called Argestes modeled almost perfectly after a real-life counterpart: The Allen & Co. Read more

Google Pays Up in France

07:54pm, Monday, 16'th Sep 2019
Google's settlement with French tax authorities amounted to a billion dollars, the highest payout in Europe so far. Read more
Google will host its fall product event on October 15 in New York City, based on invites sent to members of the media on Monday. Google is expected to unveil its next smartphone, the Pixel 4 , and an updated version of the Google Home Mini called the Nest Mini. The Pixel 4 was confirmed in a June blog post from Google and the company has already shown off some of its new features. Google's released the Pixel 3 in October 2018, and a $400 version of the phone, the Pixel 3a, was released in May 2019. Visit Business Insider's homepage for more stories. Google has revealed the date for its annual Made by Google event, where the company is expected to unveil its next smartphone, the Pixel 4. On Monday, members of the media received an invitation dated for October 15 at an undisclosed New York City venue. The invitation doesn't reveal much, simply reading: "Come see a few new things made by Google." Made by Google 2019 is scheduled to begin at 1 p.m. ET, 10 a.m. PT. While only a select number of media representatives are invited to the event, it will be livestreamed on YouTube. Read more
OnePlus announced that its revealing its new OnePlus 7T smartphones on September 26. 2019 might be a slightly different year for OnePlus and its bi-annual smartphone cycle, as the base OnePlus 7T model might get big updates. Usually, the second wave of OnePlus phones in a single year don't include such major upgrades, but this year's model is rumored to have gotten a refresh in design, specs, and features. Visit Business Insider's homepage for more stories . OnePlus announced that it will be revealing the OnePlus 7T smartphones on September 26 , and everyone who's looking for a new smartphone — not just OnePlus fans — should be marking their calendars. OnePlus phones have consistently ranked as the top smartphones to buy in Business Insider's top 20 list , and I'm not the only one to give them high accolades . The OnePlus 7T phones will be taking over the reigns from their predecessors, the OnePlus 7 and OnePlus 7 Pro that were released earlier this year. OnePlus' bi-annual smartphone release cycle is a little unusual, and it means that the second release of the year is usually a minor update over the first wave of OnePlus phones. Read more
Project Maven was Google's contract with the US Department of Defense to enhance its drones using AI. Read more
Artechouse — a new exhibition space for projects at the intersection of art and tech — opened to the public on Monday in an underground boiler room at Chelsea Market in New York City. "Machine Hallucination" is the name of Artechouse's current exhibition by Turkish media artist Refik Anadol. "Machine Hallucination" takes visitors into the mind of a machine: viewers stand in a vast room with moving projections on three walls and the floor. Artechouse also has an augmented reality "AR Bar," where visitors can sip on interactive cocktails. Visit Business Insider's homepage for more stories. Artechouse , a new exhibition space for projects at the intersection of art and tech, opened to the public in an underground boiler room at Chelsea Market in New York City on Monday. Its inaugural exhibit, "Machine Hallucination," is by Turkish media artist Refik Anadol, who was an artist in residence at Google through its Artists + Machine Intelligence program. "Machine Hallucination" transports viewers into the mind of a machine by placing them in a vast room covered in projections created by Anadol with the help of AI. Read more
Apple added some key features to its iPhone 11 lineup, including an ultra-wide camera, Night Mode, and a fast-charger that comes included with the iPhone 11 Pro . At the same time, the iPhone 11 is missing some modern features that you can find on other smartphones . Apple can be slow to adopt certain features for iPhone , but the company is usually intentional when it does finally add certain things. Historically, the company has waited until the technology is fully developed and reliable before adding it. That's why the iPhone 11 can be considered a placeholder until Apple adopts some more-or-less common features from other smartphones. Visit Business Insider's homepage for more stories. Much of the anticipation I typically feel leading up to a new iPhone announcement revolves around one question: "Did Apple finally add 'this' feature?" For the iPhone 11, Apple delivered on some features I expected, like an ultra-wide camera, and a new Night Mode for better photos in low-light situations. Read more
As Apple is offering consumers more options to choose from than ever before with iPhone and iOS, Google is embracing simplicity. Read more
After an employee accused Google of stifling free speech, the company settled with the U.S. National Labor Relations board and will post a list of worker rights. Read more
Congress has asked Apple for a trove of documents regarding its restrictions on third-party repairs, and how it promotes its own apps in the App Store , among other issues. The request for information is part of a broader congressional antitrust probe into the tech giants that was first announced in June. Apple has traditionally placed tight restrictions on allowing third parties to repair iPhones and Macs , but has recently taken steps to loosen its policies. The inquiry also follows a recent New York Times analysis that found third-party apps often appear lower in search results than Apple's own, similar products. Visit Business Insider's homepage for more stories. The House Judiciary Committee is investigating whether Apple's restrictive policies around allowing third-party repairs to its devices, and its algorithms for search rankings in the App Store, constitute a violation of antitrust law. The committee sent a letter to Apple on Friday requesting a trove of documents on the company's practices, as well as certain internal communications at the company. Read more
IBM was once the undisputed star of enterprise tech — the company that sold the hardware and software running many of the business world's computer networks. But Big Blue has found itself falling behind in the cloud, where even the largest of companies are shifting some or all of their computing infrastructure to the tech giants' massive data centers. That market is dominated by more powerful rivals like Amazon, Microsoft and Google. IBM is making a big bet on a related trend, hybrid cloud, which lets businesses store data and use applications on cloud platforms, while maintaining big chunks of their networks in private data centers. CEO Ginni Rometty boldly predicted in January that IBM will be the first-place player in that emerging market, which IBM predicts will eventually be worth $1 trillion. IBM just bought Red Hat for $34 billion, to form a cornerstone of this bold bet. Amid all of this, industry insiders have started to wonder out loud about who might one day replace Rometty, 62, who has served as CEO since 2012. Read more
Apple is positioning its least expensive new iPhone , the iPhone 11, as its flagship model for 2019. That says a lot about the company's strategy, indicating that it now realizes many people aren't willing to pay upwards of $1,000 for a new phone. The launch comes after the company launched the successful iPhone XR last year, which was similarly priced and positioned as being a more affordable alternative to the flagship iPhone XS. It also comes as people are upgrading their smartphones less frequently as phones have become increasingly expensive. Visit Business Insider's homepage for more stories. Apple's iPhone X launch in 2017 marked an important milestone for the product — not just because it was the first iPhone to offer facial recognition, or because it set a design precedent for iPhones to come. It also marked the beginning of an era in which our smartphones would become more expensive than ever before, establishing $1,000 as the normal price for a new device. But Apple seems to be changing its tune this year. Read more
It's easy to reset a Google Chromecast to its factory settings if you're having issues with the device. You can reset Google Chromecast directly on the device or through the Google Home app. You may also need to reset your Google Chromecast if you get a new wireless router. Visit Business Insider's homepage for more stories . Google Chromecast is a nifty invention that lets you "cast" media from any of your devices — laptops to tablets to mobile phones — onto your TV screen. Most of the time, the device operates pretty seamlessly with few problems, but like all technology, it's not perfect. Your Chromecast could possibly freeze or lag at some point, and while simply rebooting the device may help, if it doesn't, you may need to resort to more serious measures. Whether you're trying to solve tech issues or connect the device to a new wireless router in your home, resetting your Chromecast to its factory default settings might be the way to go. Doing so is relatively easy and should only take a few minutes, after which you'll have a device that's just like new again. Read more

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