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BusinessOpenAI's annualized revenue is around $50 billion as of September, which is $20 billion less than the previous estimate of $70 billion. The earlier figure was based on an incorrect comparison with rival Anthropic, as the two companies calculate annualized revenue differently. Investors' miscalculation led to the inflated $70 billion estimate, according to the Financial Times.
HT Business·
WorldFrom October 10, vehicular movement will be restricted for 20 days on Basavanagar Main Road in Bengaluru due to bridge construction over the Vibhutipura Lake stormwater drain. Heavy goods vehicles, BMTC and school buses, and light goods vehicles from Marathahalli, HAL, Vibhutipura, and Basavanagar towards Vignan Nagar, Kaggadasapura, Malleshpalya, and BEML will be diverted. Traffic in the opposite direction will also face restrictions. Alternative routes via Old Airport Main Road and Suranjan Das Road are suggested.
Deccan Herald··Bengaluru
PoliticsThe Trump administration has suspended Microsoft and major Indian IT firms like Infosys, TCS, Wipro, HCL, and Cognizant from the US Permanent Labor Certification (PERM) program. PERM is a key step for skilled foreign workers seeking US permanent residency. The administration alleges these companies abused the system to replace American workers with cheaper foreign labor. Vice President JD Vance announced the suspension on October 8 as part of a broader crackdown on skilled foreign labor.
Mint·
EntertainmentNana Patekar was cremated in Pune with full state honours following his death from cardiac arrest. His family conducted the last rites on the same day. Numerous fans and film industry figures attended the ceremony. Maharashtra's Chief Minister and Deputy Chief Minister visited his farmhouse to offer condolences.
TOI Entertainment··Pune
SportsSan Diego Padres pitcher Michael King, 31, must decide whether to exercise his player option for the 2027 season or opt out and become a free agent. King has two seasons left on his $75 million contract, with a $28 million salary option for 2027 and a $30 million option for 2028. He expressed strong ties to San Diego, calling it his second home after three seasons.
HT Sports··San Diego
WorldThe Commissioner of Metro Railway Safety (CMRS), V Venkatasubramanian, completed a three-day safety inspection of Bengaluru's 7.5-km elevated Pink Line from Kalena Agrahara to Tavarekere. The inspection included motor trolley checks, depot facility reviews, train trials, and Operations Control Centre evaluation. BMRCL previously secured speed certification and provisional approvals for rolling stock and signalling systems.
Deccan Herald··Bengaluru
HT Business·
OpenAI's annualized revenue is around $50 billion as of September, which is $20 billion less than the previous estimate of $70 billion. The earlier figure was based on an incorrect comparison with rival Anthropic, as the two companies calculate annualized revenue differently. Investors' miscalculation led to the inflated $70 billion estimate, according to the Financial Times.
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