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Sensex Slides 400 points, Nifty about 18,150; HDFC twins lost 4%



OPEN CALL: Underlying stocks pulled back slightly after losses at the open on Friday, as concerns about the spread of infection in the regional banking space intensified on Wall Street overnight. The BSE Sensex dropped 400 points to 61,338 and the NSE Nifty50 fell 100 points to 18,150.

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Kathy Cotton, who helped raise Apple’s profile, dies at 57



Kathy Cotton, who long served as Apple’s head of public relations, guarded media access to the visionary co-founder of Steve Jobs, and helped launch many of his products, died on April 6 in Redwood City, California. she was 57

Her death in the hospital was confirmed by Michael Mimeles, her ex-husband. He did not give a reason, but said she had complications from a heart operation she had a few years ago.

Ms. Cotton, who created a culture of mystery by telling reporters relatively little, if anything, joined Apple in 1996 and began working with Mr. Jobs the following year, shortly after he returned to the company after a 12-year break. Apple was in bad financial shape at the time, but Ms. Cotton worked with Mr. Jobs to make a startling improvement.

Together they developed a tightly controlled public relations strategy as the company bounced back from major losses and released one successful product after another, including the iMac desktop computer and innovative digital devices such as the iPod, iPhone, and iPad.

“She was formidable and tough and very protective of both the Apple brand and Steve, especially when he got sick.” Walt Mossberg, a former technology columnist for The Wall Street Journal, said in a telephone interview, referring to Mr. Jobs’ diagnosis of pancreatic cancer in 2004. He added: “She was one of the few people he trusted implicitly. He listened to her. She could distract him from what he was about to do or say.”

Ms. Cotton spoke briefly, if at all, when reporters asked her questions, but she could be helpful when speaking off the record or in the background.

“She was approachable, she was a point of contact, but sometimes it was hand-to-hand combat if they wanted to get the story out to the world, and that wasn’t the story I wanted to tell,” John Markoff, former technology reporter for The New York Times, said on the phone.

Ms. Cotton also chose which reporters could speak to Mr. Jobs (although he occasionally spoke to reporters he knew well). In 1997, she invited Newsweek reporter Cathy Hafner to watch the first commercial in a new Apple commercial. “Think Different” advertising campaign with Mr. Jobs.

A tribute to “the lunatics, the misfits, the rebels, and the troublemakers,” the narrator proclaimed, as the ad began with a still image of Mr. Jobs holding an apple in his left hand, and continued with clips of people who changed the world. , among them Albert Einstein, Pablo Picasso, John Lennon, Rev. Dr. Martin Luther King Jr., Thomas Edison and Muhammad Ali.

“I looked back and Steve was crying” Ms Hafner, who wrote about Apple for Newsweek and later for The New York Times, said in a telephone interview. “I looked at Cathy and couldn’t tell if she was touched or triumphant – I don’t know – but I was full of admiration for her because she knew how to play it and give me access.”

Richard Stengel, a former managing editor of Time magazine, wrote in an email that Mr. Jobs “called me five or six times a day to tell me whether I should write an article or not,” and that Ms. Cotton “often called right after and gently apologized or declined.” from what he said.” He added, “She was very devoted, but she saw him without embellishment.”

Katherine Elizabeth Cotton was born on October 1st. January 30, 1965 in Washington, New Jersey. Her father, Philip, worked for a telecommunications company. Her mother, Marie (Cuveau) Cotton, worked in various jobs, including provisions.

After graduating from the University of Arizona in 1988 with a bachelor’s degree in journalism, Ms. Cotton worked at Dav-El Limousine in Los Angeles in sales, marketing and public relations before moving to public relations agency Allison Thomas Associates. Among the company’s technology clients was Mr. Jobs, who at the time ran Next Software. But Ms. Thomas and Mr. Jobs fell out before Ms. Cotton was hired around 1994.

“She did a great job,” Ms. Thomas said in a telephone interview, “but it took some time for her compulsive work habits to become apparent.”

In mid-1996, when Gilbert Amelio was Apple’s chief executive, the struggling company hired Ms. Cotton to help with public relations. “Kathy was in tech PR before it was cool and cool, and Apple needed someone with her experience,” Mr. Mimeles, her ex-husband, who also worked at Apple, said in a telephone interview.

In late 1996, Apple acquired Next, bringing Mr. Jobs back to Apple as an advisor. In 1997, he became interim chief executive of the company, and three years later – chief executive officer. That same year, he appointed Ms. Cotton as head of public relations and communications at Apple, and eventually named her vice president of international communications, a position she held for many years.

“When Steve came back, he didn’t just put key engineers in their place,” Greg Joswiak, Apple’s senior vice president of marketing, said by phone. “He put in the right people to guide us through the company and Katy played a big part in that.”

She continued to work for Jobs, speaking little publicly about his health issues, until his death in 2011, and then worked for Tim Cook, his successor, until her retirement in 2014.

One indication of her influence was a headline in Macworld magazine: “Cotton leaves Apple PR: What does this mean for the press?

Miss Cotton never worked for the corporation again. She has done corporate consulting and mentored young people at Menlo-Atherton High School in Atherton, California, which her children attended, and at the Riekes Center, a non-profit educational organization in Menlo, California.

Mrs Cotton is survived by her mother; daughter Isabel Mimeles; ason, Ethan Mimeles; her partner Jim Wells; her sisters Lori Ann David and Patty Stewart; and her brother Richard Cotton.

After Mr. Jobs’ death, advertising agency TBWA/Media Arts Lab aired a proposed commercial for Ms. Cotton and two other Apple executives.

“It’s sad when a founder dies,” the commercial began, Tripp Mickle wrote in After Steve: How Apple Became a Trillion Dollar Company and Lost Its Soul (2022). “You wonder if you can do it without him. Should you show the world your brave face or just be honest?

When it ended, Miss Cotton wept.

“We can’t manage it,” she said. They never did.

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The frenzy of the late talks left the First Republic under JPMorgan’s control



Regulators have indicated that they plan to announce the winner by 20:00, before markets open in Asia. PNC executives spent most of the weekend at the bank’s Pittsburgh headquarters drafting the application. Executives from Citizens, based in Providence, Rhode Island, gathered at offices in Connecticut and Massachusetts.

But 8 p.m. passed, and there was no word from the FDIC. Several hours of silence followed.

For three smaller banks, the deal would be crucial, giving them a much wider presence in wealthy places like the San Francisco Bay Area and New York. PNC, the sixth largest US bank, would shore up its position to challenge the country’s four big commercial lenders – JPMorgan, Bank of America, Citigroup and Wells Fargo.

Ultimately, JPMorgan not only offered more money than others, but agreed to buy the vast majority of the bank, two people familiar with the process said. Regulators were also more willing to accept the bank’s offer because it was probably easier for JPMorgan to integrate First Republic affiliates into its business and manage the smaller bank’s loans and mortgages by holding or selling them, the two sources said.

While small bank executives waited for their phones to ring, the FDIC and its advisers continued to negotiate with Mr. Dimon and his team, who sought assurances that the government would protect JPMorgan from losses, one source said.

Around 3 am, the FDIC announced that JPMorgan would acquire First Republic.

An FDIC spokesperson declined to comment on other bidders. In a statement, the agency said, “First Republic Bank’s decision included a highly competitive bidding process and resulted in a deal that met the federal deposit insurance law minimum cost requirements.”

This announcement received wide support in the financial industry. Robin Vince, president and chief executive officer of the Bank of New York Mellon, said in an interview that it was “like a cloud had cleared.”

Some financial analysts have warned that the celebrations may be overblown.

Many banks still have hundreds of billions of dollars of unrealized losses on Treasuries and mortgage-backed securities purchased when interest rates were very low. Some of these bond investments are now worth a lot less because the Federal Reserve has raised rates sharply to bring down inflation.

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How artificial intelligence technologies are driving the rise of online voice scams



AI has already changed the rules of the game for cybercriminals. The entry barrier has never been lower, which means that committing cybercrime has never been easier. According to research published in McAfee’s “Artificial Imposter” report, it shows how AI technology is driving the growth of online voice scams. McAfee researchers found that they had no problem reproducing accents from around the world, whether from the US, UK, India or Australia, but more distinctive voices were harder to copy. Excerpts from the report on India.

Voice scam experience

• 47% of Indians know someone or have been the victim of an AI voice scam. This is the highest rate in India – almost twice the world average (25%).

• 20% of Indians have not heard of AI voice scams.

• 83% of Indian victims said they lost money

• Of these, 48% lost more than INR 50,000 and 35% lost less than INR 50,000. Cybercriminals have cloned the AI ​​voice.

Availability of audio/voice

• 86% of Indian adults share their voice data online or in recorded notes at least once a week (via social media, voice memos, etc.).

• 43% of Indians shared something online, including voice messages, 1-2 times per week.


• 69% said they would reply and send money if they received a voicemail or voice note from a loved one or friend who said they were in a car accident/had a problem with their car and need help.

• 70% would do the same if a voice memo said they were robbed and needed help.

• 65% if the person lost their phone and wallet.

• 62% would answer if the person said they were going abroad and needed help.

• 39% would respond if a person said that their online banking account was blocked and an account code was required to log in.

How to distinguish real from fake

More than half (69%) of Indians say they don’t know or can’t tell the difference between an artificial intelligence voice and a real voice.

• 38% of Indians believe they cannot distinguish an AI voice from a real voice.

• 31% of Indians don’t know if they can distinguish an artificial intelligence voice from a real voice.

• 31% of Indians believe they can distinguish an artificial intelligence voice from a real voice.

The Artificial Intelligence Study was conducted by MSI Research using an online questionnaire between April 13 and April 19, 2023 on a sample of 7,054 adults aged 18 and over from seven countries. The sample size and date of the survey by country are as follows: 1,009 respondents in the US; 1009 respondents in the UK; 1007 respondents in France; 1007 respondents in Germany; 1004 respondents in Japan; 1008 respondents in Australia; 1010 respondents in India.

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