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There’s a growing concern for the global banking system after SVB’s collapse.

Swiss bank Credit Suisse lost a quarter of its stock’s value when the crisis unfolded, prompting the Swiss central bank to extend $54 billion to help it shore up liquidity. Now, its local rival UBS may step in to merge with the 167-year-old entity after US financial firm BlackRock didn’t express any interest.

Across the Atlantic, 11 banks infused $30 billion in deposits into First Republic Bank to rescue it from the widening crisis. However, Moody’s still downgraded its credit rating due to increased reliance on funding.

Meanwhile, GPT-4’s AI capabilities have even spooked its company OpenAI’s CEO Sam Altman, who stressed the need to guard against the negative consequences of technology. The company’s data engineer revealed that the AI had scored 90% in US bar exams and a near-perfect high school SAT math test.

But while generative AI is also becoming more proficient at generating art at par with human creativity, an academic project is going all guns blazing against the theft of ‘artistic IP’. 

The University of Chicago’s Glaze project launched a free app that makes it harder for generative AI technology to mimic the style of an artwork and its artist. 

In today’s newsletter, we will talk about 

• India’s growing craft beer culture
• Peace-seeker’s paradise in Goa
• Maithili Rao on Bollywood’s fierce women

Here’s your trivia for today: Where is India’s largest diamond mine located?

Beverages

India’s growing craft beer culture

India is seeing a rise in microbreweries across the country. One international beer brand attracted by the booming market is BrewDog. The carbon-negative Scottish craft brew brand currently has three outlets in the country.

Beer trends:

• CEO and Co-founder James Watt says BrewDog is applying its ‘punk ethos’ in India. 
• He says India pale ale (IPA) with a huge amount of bitterness works well to wash down fat-rich dishes.
• The less bitter New England IPA beer is the new trend to watch.

Travel and leisure

Peace-seeker’s paradise in Goa

With Indian and international tourists hopping bars in North Goa’s Candolim, finding a laid-back place to relax can be a task. White Banyan Beach Villa by the Acacia Group offers the best of both worlds—relaxing and lazy mornings and high-energy evenings.

Plush decor:

• A 200-year-old banyan tree sits in the middle of the villa, separating it into lounging and dining areas, and the bedrooms.
• Across the villa, long glass windows ensure that space is well-lit and ventilated, although the interiors are fully air-conditioned. 
• Sourced from Rajasthan, the wooden sofas, tables, beds, and cupboards provide the quintessential vintage feel. 

Cinema

Maithili Rao on Bollywood’s fierce women

Film critic, journalist and author, Maithili Rao believes Indian cinema has long been a reflection of the society of that particular time. She released her second book—The Millennial Woman in Bollywood – A New ‘Brand’?—which reflects on women’s growing agency in Indian cinema.

The heroine:

• Rao points out how modern women are dismissing the idea of Bollywood being “politically cowardly”, by coming out and supporting political causes.
• She references classic films like Sahib Bibi Aur Ghulam and Devdas, and how no one dared meddle with these movies.
• She was inspired to write on the topic seeing more women directors and writers bringing in a woman’s perspective on stories and storytelling.

News & updates

• Emergency bonus: Silicon Valley Bank’s UK arm handed out over 15 million pounds in bonuses days after its rescue deal this week by HSBC. Bonuses were also reportedly paid to its US staff just hours before the Santa Clara-based bank collapsed.
• Accountability: The Brazilian government is studying whether to regulate internet platforms that carry revenue-earning content such as advertising. The idea would be for a regulator to hold such platforms, not consumers, accountable for monetised content, according to its secretary for digital policies.
• Moonwalk 2.0: Axiom Space has launched a next-generation spacesuit to walk on the lunar surface as part of NASA’s Artemis III mission. The spacesuit will provide astronauts with advanced capabilities for space exploration.

Where is India’s largest diamond mine located?

Answer: Panna, Madhya Pradesh

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