Most children aged 11 and 12 use Tik Tok, Instagram and other social media despite the platforms’ age restrictions, and many show signs of addiction to social media, a team of researchers have found.

The US Supreme Court is likely to uphold a law that would ban TikTok in the US beginning January 19. TikTok has around 170 million users in the country.

Tik Tok, Instagram, YouTube and Snapchat require users to be at least 13 years old to have an account.

But the study found that a majority of 11 and 12-years olds across the country have accounts on the platforms, and 6.3 per cent have a social media account they hide from their parents.

The Life Insurance Corporation of India (LIC) clocked a 14.64 per cent growth (year-on-year) in new business premiums in 2024, collecting Rs 2.33 lakh crore in the January-December period, according to data by the Life Insurance Council on Friday.

This stellar performance by nation’s largest life insurer exceeds the insurance industry’s growth of 14.41 per cent and the private life insurers’ growth rate of 14.55 per cent, the data showed.

As per the data, LIC collected Rs 2,33,073.36 crore in premiums during the reporting period, a 14.64 per cent increase compared to Rs 2,03,303 crore in the same period in 2023.

In 2024, the overall life insurance industry reported premium collections of Rs 4,02,773.18 crore, reflecting a 14.55 per cent YoY rise from Rs 3,51,626.20 crore.

Meanwhile, private life insurers garnered Rs 1,69,699.83 crore, up 14.41 per cent from Rs 1,48,323.21 crore in the previous year.

India's domestic benchmark indices closed lower on Friday as the IT sector closed in the green after a gain of 3.44 per cent.

Sensex ended at 77,378.91, down by 241.30 points, or 0.31 per cent, and Nifty settled at 23,431.50, down by 95 points or 0.40 per cent.

Nifty Bank ended at 48,734.15, down by 769.35 points, or 1.55 per cent. The Nifty Midcap 100 index closed at 54,585.75 after dropping 1,160.15 points, or 2.08 per cent, while the Nifty Smallcap 100 index closed at 17,645.55 after declining 472.80 points, or 2.61 per cent.

According to market experts, domestic market sentiment remained subdued due to rising crude oil prices, driven by supply concerns and a strengthening dollar index.

Hyundai Motor Group said on Friday it has formed a strategic partnership with Nvidia for the development of advanced artificial intelligence (AI) technologies related to future mobility.

Through the partnership signed in Las Vegas on Thursday (local time), the group plans to enhance key mobility solutions, including those for software-defined vehicles and robotics, and expand the application of AI technology across its business operations.

Specifically, Hyundai Motor intends to leverage digital twin technology to simulate construction and operation of new factories in virtual environments. Using this approach, Hyundai will utilize Nvidia's digital twin platform Omniverse to improve manufacturing efficiency, enhance quality and reduce costs, reports news agency.

Generative AI (GenAI) smartphones will account for over 54 per cent of total smartphone shipments by 2028, with an installed base exceeding 1 billion, according to a report on Friday.

A wide range of GenAI use cases will be available on both flagship and mid-range smartphones, facilitated by operating system (OS) upgrades and new model launches, said the report by Counterpoint Research.

“Moreover, 5G penetration and growing on-device AI computing power will solidify the democratization of GenAI across a wider range of smartphones, from flagship models to lower-end devices,” the report mentioned.

The report stated that the emergence of GenAI in smartphones is not a fleeting trend. GenAI smartphone shipments are projected to experience significant growth, with a notable acceleration expected from 2025 onwards.

“This democratization of AI will be driven by an intimate ecosystem of collaboration and technological advancements, along with the countless resources invested by hardware brands and AI platforms, promising to put sophisticated AI capabilities into the hands of billions,” it mentioned.

The government has scaled down its estimate of gold imports for November 2024 to $9.84 billion from the preliminary estimate of $14.86 billion announced last month, data compiled by the Commerce Ministry’s Directorate General of Commercial Intelligence and Statistics showed on Wednesday.

The $5 billion downward revision in gold imports would lead to an equivalent reduction in the country’s trade deficit which would strengthen the macroeconomic fundamentals and be positive for the rupee, a senior official said.

The revised figures for inbound shipments of gold in value terms are nearly 34 per cent lower than what was reported last month.

Healthy farm incomes should provide support to rural incomes next fiscal (FY26) and lower inflation and scope for reduced interest rates should improve purchasing power for discretionary spending in India, a report showed on Wednesday.

This fiscal, real private consumption growth revived to 7.3 per cent from 4 per cent last fiscal.

“What’s salutary is that some factors that support consumption recovery in the short term have also turned supportive,” according to a Crisil Market Intelligence and Analytics report.

This fiscal, growth in government consumption expenditure rebounded to 4.1 per cent from 2.5 per cent last fiscal, supporting private consumption growth recovery.

Apple on Tuesday announced that its next "Swift Student Challenge" will open on February 3, aimed at uplifting the next generation of developers, creators, and entrepreneurs.

The challenge empowers students to join a worldwide community of developers using Swift -- the same programming language used by professionals -- to create the next wave of groundbreaking apps.

Previous Swift Student Challenge participants used their creativity to develop apps to solve real-world problems such as connecting peers to mental health resources and identifying ways to support sustainability efforts on campus.

“Apple’s Swift Student Challenge has given thousands of students around the world the opportunity to showcase their creativity, and coding capabilities, and learn real-world skills that they can take into their careers and beyond,” the company said.

Adani Ports and Special Economic Zone Ltd. (APSEZ) on Wednesday said it has been ranked among the top 10 global transportation and transportation infrastructure companies in the 2024 S&P Global Corporate Sustainability Assessment (CSA).

With a score of 68 (out of 100) - a three-point improvement over last year, APSEZ is now placed in the 97th percentile within the sector, improving from the 96th percentile in 2023, the Adani Group company said in a statement.

"We firmly believe responsible business practices drive innovation and long-term success. The latest recognition only reflects our commitment to sustainability and corporate responsibility,” said Ashwini Gupta, Whole-Time Director and CEO of APSEZ.

Securitisation volume surged by around 27 per cent year-on-year to Rs 1.78 lakh crore in the first nine months of the current financial year, supported by large issuances from private sector banks, according to a CRISIL report released on Wednesday.

Among asset classes, vehicle loans (including commercial vehicles and two-wheelers) accounted for 48 per cent of securitisation volume (vs 40 per cent in the corresponding period in the last financial year).

In the third quarter alone, issuances touched Rs 63,000 crore, up 60 per cent year-on-year, with private sector banks contributing to 28 per cent of this.

On the other hand, originations by non-banking financial companies (NBFCs) were up by a modest 5 per cent. Like-to-like growth (adjusted for volume from a large HFC that merged with a bank) for the nine months of this fiscal is in line with the moderation in the assets under management (AUM) growth.