Business
‘It’ll be something cool’: Elon Musk promises of moon buggies, humanoid robots after $1 trillion Tesla payday – The Times of India
Tesla CEO Elon Musk celebrated shareholder approval of his record-breaking $1 trillion compensation package with a flurry of ambitious promises, from humanoid robots performing surgery to building vehicles for missions to the Moon and Mars.The vote, which saw over 75% of investors back the deal, clears the path for Musk to expand his stake in Tesla to around 25% over the next decade and potentially become the world’s first trillionaire.
Humanoid robots, moon buggies, & new vision
Musk used the meeting to outline Tesla’s futuristic roadmap. He claimed the company’s humanoid robot, Optimus, would soon evolve from handing out candy to performing surgery “with beyond-human precision.”He also teased that both Optimus and Tesla’s vehicles could one day play a key role in establishing bases on the Moon and Mars. “It’ll be something cool — a next-level moon buggy or Mars buggy,” Musk told shareholders, Bloomberg reported.The billionaire added that Tesla aims to boost its car production by roughly 50% by the end of 2026, despite ongoing challenges in its automotive division, which is facing its second consecutive year of declining sales.“It’s not just a new chapter for Tesla, it’s a new book,” Musk declared during the company’s annual meeting in Austin, Texas.“That new book is about massively increasing vehicle production and ramping up Optimus production faster than anything in human history,” he added.
Pay package paves way to trillionaire status
The approval of Musk’s massive stock award cements his control over Tesla at a time when he had hinted he might divert more attention to other ventures if the deal failed. General Counsel Brandon Ehrhart announced that more than three-quarters of votes supported the package, prompting a standing ovation.The plan sets performance targets that could raise Tesla’s market value to $8.5 trillion, enough to make Musk’s total stake worth roughly $2.4 trillion, according to Bloomberg estimates. That figure would surpass the GDP of nearly every country except a handful of the largest economies.“There are significant hurdles,” noted Dan Ives, an analyst at Wedbush Securities. “Musk now has to execute on the most important chapter in Tesla’s history, an autonomous and robotic future.”The compensation plan faced resistance from several institutional investors and proxy advisory firms, including Norway’s Norges Bank Investment Management and Glass Lewis, who cited its “unprecedented scale” and potential dilution of other shareholders.According to Bloomberg, critics also accused Tesla’s board of being overly deferential to Musk. New York State Comptroller Thomas DiNapoli called the deal “pay for unchecked power, not pay for performance,” while Senator Bernie Sanders described it as “totally absurd.”
Musk’s vision: From chips to cybercabs
Musk acknowledged that Tesla’s growth will depend heavily on securing enough chips for its advanced technologies. He suggested that Tesla may build its own semiconductor facility to supplement existing supply from companies like Samsung and Taiwan Semiconductor Manufacturing Co.“Even in the best-case scenario, the chip supply from our partners won’t meet our needs,” Musk said. “So we may have to build a Tesla terafab — like giga, but way bigger” he added.He revealed that three new products are expected to enter production next year — the humanoid Optimus, the long-delayed Semi truck, and the steering-wheel-less Cybercab, Tesla’s autonomous ride-hailing vehicle.
Investor division over xAI investment
While shareholders largely supported Musk’s pay deal, they were split over another proposal — a potential investment in Musk’s artificial intelligence company, xAI. Ehrhart said that although more votes were cast in favor than against, there was “a significant number” of abstentions.The measure was advisory and non-binding, meaning Tesla is not required to follow through. Musk has previously suggested Tesla could inject up to $5 billion into xAI to accelerate development in AI and robotics integration.
A roller coaster ride
Musk’s wealth has seen major swings this year. It peaked around $450 billion in January when he appeared alongside President Donald Trump at his inauguration but fell sharply amid political controversies and consumer backlash. A feud with Trump over policy disagreements later sent Tesla shares tumbling.His fortune has since rebounded, buoyed by a recovery in Tesla stock and rising valuations for SpaceX and his AI venture xAI. As of this week, Musk’s net worth stood at around $460 billion, according to the Bloomberg Billionaires Index.Tesla’s shares slipped as much as 4.8% on Friday morning amid a broader market downturn, even as Musk vowed to “massively scale production and push the limits of human innovation.”
Business
Job seekers use AI for cover letters; employers turn to AI-led interviews — both are equally miserable, here’s why – The Times of India
Turned to artificial intelligence (AI) to help you stand out during the job process, but got rejected in the first round? Or are you a hiring manager who relied on AI to frisk through applications to select the best candidate, but ended up with not what you quite envisioned?The answer lies in the approach itself. Relying on artificial intelliegnce for job application might be doing you more harm than good.The growing use of artificial intelligence in recruitment is reshaping how Americans search for work, just as the country’s labour market shows signs of slowing. From automated interviews to AI-written cover letters, technology is now a part of almost every stage of the hiring process. But is it working? In 2025, more than half of organisations surveyed by the Society for Human Resource Management reported using AI tools to recruit workers. At the same time, almost one-third of ChatGPT users turned to the OpenAI chatbot for help with job applications. Yet recent research indicates that candidates who rely on AI during the application process are actually less likely to be hired, even as employers struggle to cope with a flood of applications. “The ability (for companies) to select the best worker today may be worse due to AI,” Anais Galdin, a researcher at Dartmouth told CNN Business. Galdin and Jesse Silbert of Princeton University examined tens of thousands of cover letters submitted on Freelancer.com, a job listing platform and found that after the launch of ChatGPT in 2022, cover letters became longer and more polished. However, employers placed less importance on them, making it harder to distinguish strong candidates from the wider pool. As a result, hiring rates dropped, and so did average starting wages, CNN reported. “If we do nothing to make information flow better between workers and firms, then we might have an outcome that looks something like this,” Silbert said, referring to the study’s findings.
A negative cycle
As application volumes rise, companies are increasingly automating interviews as well.According to a survey by recruitment software firm Greenhouse conducted in October, 54% of US job seekers said they had taken part in an AI-led interview. While virtual interviews became common during the pandemic in 2020, many employers now use AI systems to conduct interviews, without necessarily removing subjectivity from hiring decisions. “Algorithms can copy and even magnify human biases,” said Djurre Holtrop, a researcher who studies the use of asynchronous video interviews, algorithms and large language models in hiring.“Every developer needs to be wary of that,” CNN cited the expert. Daniel Chait, chief executive of Greenhouse, said the growing use of AI by both applicants and employers has created a negative cycle. “Both sides are saying, ‘This is impossible, it’s not working, it’s getting worse,’” Chait told CNN.
What’s next?
Despite these concerns, adoption of the technology continues with one estimate projecting that the market for recruitment technology will grow to $3.1 billion by the end of this year. At the same time, resistance is mounting from lawmakers, labour groups and workers worried about discrimination. Liz Shuler, president of the AFL-CIO labour union, described AI-driven hiring as “unacceptable”. “AI systems rob workers of opportunities they’re qualified for based on criteria as arbitrary as names, zip codes, or even how often they smile,” Shuler said in a statement to CNN. Several US states, including California, Colorado and Illinois, are introducing new laws and regulations aimed at setting standards for the use of AI in hiring. However, a recent executive order signed by US President Donald Trump raised questions about the future of state-level oversight. Samuel Mitchell, a Chicago-based employment lawyer, said the order does not “preempt” state law but adds to the “ongoing uncertainty” around regulation. He added that existing anti-discrimination laws still apply, even when companies use AI systems, and legal challenges are already emerging. In a case supported by the American Civil Liberties Union, a deaf woman is suing HireVue, an AI-powered recruitment company, alleging that an automated interview failed to meet legal accessibility standards. HireVue denied the claim, telling CNN that its technology reduces bias through a “foundation of validated behavioral science”. Even with these challenges, more and more AI is getting hiring access. New tools have made resume screening more sophisticated, potentially helping some candidates who may have been overlooked. But for those who value personal interaction, the shift has been unsettling. Jared Looper, an IT project manager in Salt Lake City, Utah, who previously worked as a recruiter, recently underwent an AI-led interview during his job search. He described the experience as “cold”, and said he initially hung up when contacted by the automated system. Looper said he worries about job seekers who have yet to adapt to a hiring environment where appealing to algorithms has become essential. “Some great people are going to be left behind.”
Business
India-Nepal Trade Poised To Double In Next Five Years: Report
New Delhi: Strengthening business linkages and sustained investment flows between India and Nepal are expected to drive bilateral trade into a new growth phase, with volumes likely to double by 2030, according to an article in Nepalese media.
Bilateral trade remains the most visible and measurable pillar of India–Nepal economic relations, reflecting both geographic proximity and deep-rooted interdependence. India accounts for over 64 per cent of Nepal’s total trade, underscoring its centrality to Nepal’s external economic engagement and supply chains. In FY 2024–25, total bilateral trade reached approximately USD 8.7 billion, reaffirming India’s position as Nepal’s largest trading partner by a wide margin.
India’s exports to Nepal stood at about USD 7.4 billion, dominated by petroleum products, machinery, vehicles, pharmaceuticals, food items, and construction materials, which are critical to Nepal’s consumption and infrastructure needs. Nepal’s exports to India, valued at nearly USD 1.3 billion, mainly include electricity, agricultural products, iron and steel items, and manufactured goods.
This robust trade structure underscores both the extent of economic integration and the significant potential for diversification, value addition, and more balanced growth of Nepal’s export basket in the coming years. With growing business and investments, the trade trajectory is expected to enter a new phase, with bilateral trade doubling over the next five years, according to the article in the Nepal Aaja news portal.
The article also highlights that India–Nepal bilateral investments reflect a deepening economic partnership anchored in geographical proximity, historical trust, and growing strategic convergence. Indian companies constitute the largest source of foreign direct investment in Nepal, accounting for roughly 30–35 per cent of Nepal’s total FDI stock.
Cumulative Indian investment is estimated at USD 750–800 million, with operational investments of nearly USD 670 million spread across more than 150 Indian ventures. These investments span key sectors such as hydropower, manufacturing, banking, insurance, telecommunications, cement, tourism, education, and hospitality, making India a critical driver of Nepal’s industrialisation and services-sector expansion.
Indian public and private enterprises have played a particularly transformative role in Nepal’s hydropower sector by combining capital, technology, and assured power off-take arrangements, thereby strengthening Nepal’s energy security while creating long-term commercial returns for Indian firms. Indian banks and insurance companies have contributed to financial deepening and stability, while joint ventures in manufacturing and tourism have generated employment, skills, and local value addition.
This investment synergy is reinforced by India’s broader development partnership initiatives, which support infrastructure creation, cross-border connectivity, and capacity building, thereby lowering investment risks and enhancing economic integration. Together, investment flows and development finance are knitting the two economies into a closely interconnected economic space with shared long-term interests, the article points out.
Energy cooperation has emerged as a transformative pillar of India–Nepal relations, redefining Nepal’s role in the regional economy. Nepal possesses vast hydropower potential, estimated at over 40,000 MW of economically viable capacity. In recent years, concerted efforts by both governments have enabled Nepal to transition from a net importer of electricity to a growing exporter.
In fiscal year 2024–25, Nepal exported approximately NPR 17–18 billion (about USD 130 million) in electricity, with the majority sold to India. Long-term power trade agreements envisage Nepal exporting up to 10,000 MW of electricity to India over the coming decade.
This energy partnership provides Nepal with a stable source of export revenue while supporting India’s clean energy transition and regional grid stability. The integration of power markets has also positioned India as a transit country for Nepal’s electricity exports to third countries, further enhancing regional economic cooperation, the article added.
Business
Christmas spirit offered ‘right through the year’
Caitlin Klein,in Jersey, St Helierand
Julia Gregory,in Jersey
Chris Craddock/BBCA charity which supports vulnerable people in Jersey says it has “the Christmas spirit right through the year”.
The Grace Trust which helps between 700 to 750 people a year struggling with poverty, loneliness or addiction issues said it was seeing “a much wider range” of people from all layers of society, including more older people needing community support.
General manager Vinni Jones said the charity aimed to put a smile on people’s faces from its drop-in base at Lewis Street in St Helier.
It helped 500 people at the food bank every year and also ran singing, art and Saturday lunches.
‘Just come down’
He said there were extra festive goodies at the food bank and 92 people recently sat down to an “absolutely brilliant” Christmas meal at St Paul’s Centre with 20 volunteers on hand to help out.
Entertainment was provided by Fiddler’s Green and the trust’s Parklife choir.
Mr Jones said they saw more people at Christmas because it can be a challenging time.
“Just come down, knock on the window and we’ll give you what we’ve got.”
‘Offer understanding’
He explained that “we can offer a lot more than simply the food and Christmas goodies” and said people are often surprised at all the activities on offer and encouraged them to have a go.
He said the charity also had a fund to help younger mums and links with other agencies so it can offer toy vouchers at Christmas.
Support was also available year round for struggling islanders.
“It’s just a matter of being able to offer that understanding and to talk about January, talk about February for them. We’ll still be here for you,” Mr Jones said.
The government has also reminded islanders about mental health support over Christmas.
There is 24 hour support available from the Adult Mental Health crisis team, on 445 290 and online support from Together All.
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