<p>Journalist Barbara Walters, the pathbreaking newswoman who heralded an era of TV news that humanised stories, people and personalities alike, died at 93 in New York on Friday.&nbsp;</p>

<p>Her death was reported by ABC News, where she was a long-time anchor and created 'The View', in which she continued to appear till 2014.</p>

<p>Barbara Walters began at NBC News as a writer in 1961. She was to make her mark on the 'Today' show, where she began appearing regularly starting 1964. When she left NBC to join ABC News in 1976, she was widely cited as a "million-dollar baby" because of her five-year, $5 million contract.</p>

<p>As an interviewer of celebrities, Walters became one herself, with 'The View' and 'Today' shows blending editorialised beliefs and on-ground information that shaped public opinions worldwide. At the peak of her career, Barbara was provokingly rewarded and extensively criticised for blending showbiz elements into conventional news programs.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/number-of-journalists-imprisoned-hit-record-high-more-than-one-killed-every-week-in-2022-rsf-543070">Number of journalists imprisoned hits record high; more than one killed every week in 2022</a></strong></p>

<p>In the male-dominated world of news in the twentieth century, Walters' claim to fame was her unique interviewing skills.&nbsp;</p>

<p>From Fidel Castro to Indira Gandhi and from Yasir Arafat to Barak Obama, throughout her 50-year-long career, Barbara broke the news points&nbsp;with her ability to execute a visibly sublime humanisation of the interviewee.</p>

<p><strong>WATCH |&nbsp;<a href="https://www.wionews.com/world/number-of-journalists-imprisoned-hit-record-high-more-than-one-killed-every-week-in-2022-rsf-543070">Number of journalists imprisoned worldwide hits new record</a></strong></p>

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<p>Walters had the ability to enhance the comfort level of the interviewee to a point that personal revelations came about without much effort.</p>

<p>In one-on-one interviews, she was best known for delving, with subtle insistence, into the emotional states of movie stars, heads of state and celebrities. Her 1999 interview with Monica Lewinsky, an activist-writer with personal history with President Bill Clinton, attracted 74 million viewers, a milestone in TV news yet to be crossed.</p>

<p>Walters while referring to what was reported to be Bill Clinton's 'scandelous' love affair with Lewinsky, asked her, "What will you tell your children about this matter?" and Lewinsky replied, "I guess Mommy made some mistakes." At that point, Walters turned to the camera and declared, "And that is the understatement of the century," bringing the program to a conclusion akin to the drafting of history.&nbsp;</p>

<p>Walters was the highest-paid television journalist at one time, earning as much as $12 million per year at ABC News until her retirement from her show 'The View' in May 2014.</p>

<p>Walters was married three times: to Bob Katz in 1955; to Lee Gubers, with whom she adopted a daughter, Jacqueline; and to TV producer Merv Adelson, whom she divorced for the second time in 1992.</p>

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Journalist Barbara Walters, the pathbreaking newswoman who heralded an era of TV news that humanised stories, people and personalities alike, died at 93 in New York on Friday.

Journalist Barbara Walters, the pathbreaking newswoman who heralded an era of TV news that humanised stories, people and personalities alike, died at 93 in New York on Friday. Her death was reported by ABC News, where she was a long-time anchor and created 'The View', in which she continued to appear till 2014. Barbara Walters began at NBC News as a writer in 1961. She was to make her mark on the 'Today' show, where she began appearing regularly starting 1964. When she left NBC to join ABC News in 1976, she was widely cited as a "million-dollar baby" because of her five-year, $5 million contract. As an interviewer of celebrities, Walters became one herself, with 'The View' and 'Today' shows blending editorialised beliefs and on-ground information that shaped public opinions worldwide. At the peak of her career, Barbara was provokingly rewarded and extensively criticised for blending showbiz elements into conventional news programs. ALSO READ | Number of journalists imprisoned hits record high; more than one killed every week in 2022 In the male-dominated world of news in the twentieth century, Walters' claim to fame was her unique interviewing skills. From Fidel Castro to Indira Gandhi and from Yasir Arafat to Barak Obama, throughout her 50-year-long career, Barbara broke the news points with her ability to execute a visibly sublime humanisation of the interviewee. WATCH | Number of journalists imprisoned worldwide hits new record × Walters had the ability to enhance the comfort level of the interviewee to a point that personal revelations came about without much effort. In one-on-one interviews, she was best known for delving, with subtle insistence, into the emotional states of movie stars, heads of state and celebrities. Her 1999 interview with Monica Lewinsky, an activist-writer with personal history with President Bill Clinton, attracted 74 million viewers, a milestone in TV news yet to be crossed. Walters while referring to what was reported to be Bill Clinton's 'scandelous' love affair with Lewinsky, asked her, "What will you tell your children about this matter?" and Lewinsky replied, "I guess Mommy made some mistakes." At that point, Walters turned to the camera and declared, "And that is the understatement of the century," bringing the program to a conclusion akin to the drafting of history. Walters was the highest-paid television journalist at one time, earning as much as $12 million per year at ABC News until her retirement from her show 'The View' in May 2014. Walters was married three times: to Bob Katz in 1955; to Lee Gubers, with whom she adopted a daughter, Jacqueline; and to TV producer Merv Adelson, whom she divorced for the second time in 1992. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Barbara Walters, iconic 'The View' anchor-interviewer, dies at 93

<p>The United Nations General Assembly on Friday approved a resolution that asked the International Court of Justice to opine upon the Israel-Palestine conflict and the legal status of the territories administered by the two sides.&nbsp;The Israeli ambassador to the UN Gilad Erdan slammed the resolution calling it a "moral stain" on the multilateral body.&nbsp;</p>

<p>"No international body can decide that the Jewish people are ‘occupiers’ in their own homeland. Any decision from a judicial body which receives its mandate from the morally bankrupt and politicised UN is completely illegitimate," Erdan said in a Friday statement.</p>

<p>"The Palestinians have rejected every peace initiative while supporting and inciting terror. Instead of pushing the Palestinians to change, the UN is doing the opposite: helping them to harm the only vibrant democracy in the Middle East," Erdan added.</p>

<p>“The decision to hold a vote that deals with Israel on Shabbat is another example of the moral decay of the UN, which prevents Israel’s position from being heard in a vote whose results are predetermined,” he said.</p>

<p><strong>WATCH&nbsp;|&nbsp;<a href="https://www.wionews.com/videos/israel-palestine-conflict-at-united-nations-resolution-against-israel-at-icj-548238">Israel-Palestine conflict at United Nations, resolution against Israel at ICJ</a></strong></p>

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<p><br />
The resolution was&nbsp;titled "Israeli practices and settlement activities affecting the rights of the Palestinian people and other Arabs of the occupied territories" and called&nbsp;on the Hague-based ICJ to "render urgently an advisory opinion" on Israel’s "prolonged occupation, settlement and annexation of Palestinian territory."</p>

<p>The UNGA also called for an investigation into Israeli measures "aimed at altering the demographic composition, character and status of the Holy City of Jerusalem" and says Israel has adopted "discriminatory legislation and measures".</p>

<p>The Palestinian representative to the UN, Riyad Mansour, applauded the resolution after it passed.&nbsp;"This vote comes one day after the new Israeli government was formed pledging to accelerate colonial and racist policies against the Palestinian people," Mansour told the General Assembly.</p>

<p>China, Iran, Ireland, Poland, Portugal, Russia and Saudi Arabia were among the countries voting in favour, along with Muslim or Arab states with which Israel has relations including Egypt, Jordan, Morocco, the United Arab Emirates, Bahrain, Sudan and Azerbaijan.</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/analysis-what-netanyahus-comeback-in-israel-means-for-india-531268">Netanyahu re-election: How Modi-Bibi at helm create 'certain magic' in India-Israel ties</a></strong></p>

<p>Israel, the US, the UK, Australia, Austria, Canada, Germany and Italy voted against Friday’s resolution. India, South Korea and Spain were among the countries that remained absent.&nbsp;</p>

<p>The International Court of Justice last issued an advisory opinion on the Israeli-Palestinian conflict in 2004 when the General Assembly asked it to rule on the legality of the separation barrier.</p>

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The United Nations General Assembly on Friday approved a resolution that asked the International Court of Justice to opine upon the Israel-Palestine conflict and the legal status of the territories administered by the two sides.

The United Nations General Assembly on Friday approved a resolution that asked the International Court of Justice to opine upon the Israel-Palestine conflict and the legal status of the territories administered by the two sides. The Israeli ambassador to the UN Gilad Erdan slammed the resolution calling it a "moral stain" on the multilateral body. "No international body can decide that the Jewish people are ‘occupiers’ in their own homeland. Any decision from a judicial body which receives its mandate from the morally bankrupt and politicised UN is completely illegitimate," Erdan said in a Friday statement. "The Palestinians have rejected every peace initiative while supporting and inciting terror. Instead of pushing the Palestinians to change, the UN is doing the opposite: helping them to harm the only vibrant democracy in the Middle East," Erdan added. “The decision to hold a vote that deals with Israel on Shabbat is another example of the moral decay of the UN, which prevents Israel’s position from being heard in a vote whose results are predetermined,” he said. WATCH | Israel-Palestine conflict at United Nations, resolution against Israel at ICJ × The resolution was titled "Israeli practices and settlement activities affecting the rights of the Palestinian people and other Arabs of the occupied territories" and called on the Hague-based ICJ to "render urgently an advisory opinion" on Israel’s "prolonged occupation, settlement and annexation of Palestinian territory." The UNGA also called for an investigation into Israeli measures "aimed at altering the demographic composition, character and status of the Holy City of Jerusalem" and says Israel has adopted "discriminatory legislation and measures". The Palestinian representative to the UN, Riyad Mansour, applauded the resolution after it passed. "This vote comes one day after the new Israeli government was formed pledging to accelerate colonial and racist policies against the Palestinian people," Mansour told the General Assembly. China, Iran, Ireland, Poland, Portugal, Russia and Saudi Arabia were among the countries voting in favour, along with Muslim or Arab states with which Israel has relations including Egypt, Jordan, Morocco, the United Arab Emirates, Bahrain, Sudan and Azerbaijan. ALSO READ | Netanyahu re-election: How Modi-Bibi at helm create 'certain magic' in India-Israel ties Israel, the US, the UK, Australia, Austria, Canada, Germany and Italy voted against Friday’s resolution. India, South Korea and Spain were among the countries that remained absent. The International Court of Justice last issued an advisory opinion on the Israeli-Palestinian conflict in 2004 when the General Assembly asked it to rule on the legality of the separation barrier. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Israel slams latest UN vote on Palestine as ‘moral decay’ of the multilateral world body

<p>As Pakistan's fiscal deficit widened by more than 115 per cent between July and October this year, the country's finance ministry forecast&nbsp;that inflation in the South Asian nation will remain between 21 to 23 per cent.&nbsp;"For FY23, economic growth is likely to remain below the budgeted target due to the devastation caused by the floods. This combination of low growth, high inflation and low levels of official foreign exchange reserves are the key challenges for policymakers," Pakistan's Ministry of Finance said on Friday in its Monthly Economic Update and Outlook report, reported the Dawn.</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/south-asia/with-uncertain-saudi-help-and-imf-loan-pakistans-economic-woes-hit-new-low-543222">With uncertain Saudi help and IMF loan, Pakistan's economic woes hit new low</a></strong></p>

<p>Pakistan’s MoF’s Economic Adviser’s Wing (EAW) prepared a report which stated that from July-October 2022, the government’s fiscal deficit stood at 1.5 per cent of the GDP (Rs 1.266 trillion) compared to 0.9 per cent of the GDP (Rs 587bn) in 2021.&nbsp;Amid such financial woes, the Pakistani government faces the challenge of providing relief to people in flood-hit areas.</p>

<p>"The EAW report said the average Consumer Price Index (CPI) in the first five months (July-November) of FY23 remained at 25.1 per cent compared to 9.3 per cent in the same period last year. It is expected that CPI inflation will remain in the range of 21-23 per cent,” said the Dawn report.</p>

<p><strong>WATCH |&nbsp;<a href="https://www.wionews.com/videos/wion-business-news-pakistan-gdp-growth-to-slip-from-5-to-3-amid-floods-515286">WION Business News: Pakistan GDP growth to slip from 5% to 3% amid floods</a></strong></p>

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<p>"The current account posted a deficit of $3.1bn for July-November FY23 against a deficit of $7.2bn last year, mainly due to an improvement in the trade balance," it added.</p>

<p>The current account deficit shrank to $276 million in November from $569m in October.</p>

<p><strong>Will Pakistan default on loan payments?</strong></p>

<p>Despite such a downcast economic description of the country at present, Pakistan’s Finance Minister Ishaq Dar on Friday said that “there is no way Pakistan is going to default," referring to a number of loans that the country has committed in past to pay back to the multilateral financial institutions and countries.&nbsp;</p>

<p>"We are in a tight position. We don’t have USD 24bn in foreign exchange reserves that our (last) government left in 2016. But that’s not my fault. It’s the system’s fault," Darr told investors at a ceremony to mark the listing of Pakistan’s first developmental real estate investment trust scheme on the stock exchange.</p>

<p>A recent Dawn report&nbsp;quoted the State Bank of Pakistan saying that the incumbent Pakistan government avoided focusing on growth for the fiscal year FY23, resulting in a drop in growth.</p>

<p>Despite sacrificing growth, Pakistan’s government has not been able to achieve price stability and financial stability, the bank said in its annual statement.</p>

<p><em>(With inputs from agencies)</em></p>

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As Pakistan's fiscal deficit widened by more than 115 per cent between July and October this year, the country's finance ministry forecast that inflation in the South Asian nation will remain between 21 to 23 per cent.

As Pakistan's fiscal deficit widened by more than 115 per cent between July and October this year, the country's finance ministry forecast that inflation in the South Asian nation will remain between 21 to 23 per cent. "For FY23, economic growth is likely to remain below the budgeted target due to the devastation caused by the floods. This combination of low growth, high inflation and low levels of official foreign exchange reserves are the key challenges for policymakers," Pakistan's Ministry of Finance said on Friday in its Monthly Economic Update and Outlook report, reported the Dawn. ALSO READ | With uncertain Saudi help and IMF loan, Pakistan's economic woes hit new low Pakistan’s MoF’s Economic Adviser’s Wing (EAW) prepared a report which stated that from July-October 2022, the government’s fiscal deficit stood at 1.5 per cent of the GDP (Rs 1.266 trillion) compared to 0.9 per cent of the GDP (Rs 587bn) in 2021. Amid such financial woes, the Pakistani government faces the challenge of providing relief to people in flood-hit areas. "The EAW report said the average Consumer Price Index (CPI) in the first five months (July-November) of FY23 remained at 25.1 per cent compared to 9.3 per cent in the same period last year. It is expected that CPI inflation will remain in the range of 21-23 per cent,” said the Dawn report. WATCH | WION Business News: Pakistan GDP growth to slip from 5% to 3% amid floods × "The current account posted a deficit of $3.1bn for July-November FY23 against a deficit of $7.2bn last year, mainly due to an improvement in the trade balance," it added. The current account deficit shrank to $276 million in November from $569m in October. Will Pakistan default on loan payments? Despite such a downcast economic description of the country at present, Pakistan’s Finance Minister Ishaq Dar on Friday said that “there is no way Pakistan is going to default," referring to a number of loans that the country has committed in past to pay back to the multilateral financial institutions and countries. "We are in a tight position. We don’t have USD 24bn in foreign exchange reserves that our (last) government left in 2016. But that’s not my fault. It’s the system’s fault," Darr told investors at a ceremony to mark the listing of Pakistan’s first developmental real estate investment trust scheme on the stock exchange. A recent Dawn report quoted the State Bank of Pakistan saying that the incumbent Pakistan government avoided focusing on growth for the fiscal year FY23, resulting in a drop in growth. Despite sacrificing growth, Pakistan’s government has not been able to achieve price stability and financial stability, the bank said in its annual statement. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Pakistan faces grim economic forecast amid loan pay back deadlines

<p>Over 40 per cent Covid cases in the United States in the week of December 31 were of Omicron subvariant XBB.1.5, according to Epidemiologist Dr Eric Feigl-Ding, who cited data from the US Centers for Disease Control (US CDC) to lay the claim.&nbsp;According to Dr Eric Feigl-Ding, the new variant is more immune evasive and better at infecting as compared to its predecessors.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/photos/2022-the-year-of-coronavirus-and-its-variants-548182">2022: The year of coronavirus and its variants</a></strong></p>

<p>"Ironically, probably the worst variant that the world is facing right now is actually XBB," Dr Michael Osterholm, an infectious disease expert at the University of Minnesota, was quoted as saying by Reuters.</p>

<p>Recombinants of the BA.2 variant, XBB and XBB.1.5 together accounted for 44.1 per cent of the total cases in the United States for the week ended December 31. For the week ended December 24, XBB.1.5 had made up 21.7 per cent of the total cases.</p>

<p><strong>WATCH |&nbsp;<a href="https://www.wionews.com/videos/covid-19-splinters-into-multiple-variants-what-is-the-xbb-covid-strain-526318">Covid-19 splinters into multiple variants; What is the XBB covid strain?</a></strong></p>

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<p>The XBB variant has been driving up cases in parts of Asia, including Singapore. While some experts have said it is more transmissible, it has not resulted in a surge in hospitalisations. India has also reported its first case of Omicron variant 'XXB.1.5', responsible for the surge in Covid cases in New York.&nbsp;</p>

<p>The US CDC started reporting data for the two subvariants separately this week, and the updated numbers reflect that XBB accounted for 3.6 per cent of the total cases compared with 4.2 per cent in the previous week.</p>

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Over 40 per cent Covid cases in the United States in the week of December 31 were of Omicron subvariant XBB.1.5, according to Epidemiologist Dr Eric Feigl-Ding, who cited data from the US Centers for Disease Control (US CDC) to lay the claim.

Over 40 per cent Covid cases in the United States in the week of December 31 were of Omicron subvariant XBB.1.5, according to Epidemiologist Dr Eric Feigl-Ding, who cited data from the US Centers for Disease Control (US CDC) to lay the claim. According to Dr Eric Feigl-Ding, the new variant is more immune evasive and better at infecting as compared to its predecessors. ALSO READ | 2022: The year of coronavirus and its variants "Ironically, probably the worst variant that the world is facing right now is actually XBB," Dr Michael Osterholm, an infectious disease expert at the University of Minnesota, was quoted as saying by Reuters. Recombinants of the BA.2 variant, XBB and XBB.1.5 together accounted for 44.1 per cent of the total cases in the United States for the week ended December 31. For the week ended December 24, XBB.1.5 had made up 21.7 per cent of the total cases. WATCH | Covid-19 splinters into multiple variants; What is the XBB covid strain? × The XBB variant has been driving up cases in parts of Asia, including Singapore. While some experts have said it is more transmissible, it has not resulted in a surge in hospitalisations. India has also reported its first case of Omicron variant 'XXB.1.5', responsible for the surge in Covid cases in New York. The US CDC started reporting data for the two subvariants separately this week, and the updated numbers reflect that XBB accounted for 3.6 per cent of the total cases compared with 4.2 per cent in the previous week. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Covid in USA: Omicron subvariant XBB.1.5 accounts for over 40 per cent cases

<p>Elon Musk became the only person in human history to lose $200 billion from net worth, Bloomberg Billionaire Index showed. After Amazon's Jeff Bezos, Musk was the second person with more than $200 billion of "personal fortune", a figure he achieved in January 2021.&nbsp;</p>

<p><strong>What exactly has led to decline in Musk's wealth?</strong></p>

<p>Elon Musk's wealth plummeted to $137 billion after Tesla shares declined in recent weeks. This includes a massive 11 per cent fall in Tesla shares on December 27.&nbsp;</p>

<p><strong>WATCH |&nbsp;<a href="https://www.wionews.com/videos/wion-fineprint-elon-musk-buys-twitter-529238">Explained: The future of Twitter under Elon Musk</a></strong></p>

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<p>Tesla is now offering consumers in the United States a $7,500 discount for its two highest-volume models before year-end. It has also reportedly reduced production at its Shanghai plant.</p>

<p>Musk's fortune topped at $340 billion in November 2021. Following this, he was the world's richest person for more than a year at a stretch. He was then overtaken this month by Bernard Arnault, the French business magnate and co-founder of luxury goods powerhouse LVMH.&nbsp;</p>

<p><strong>The Twitter effect</strong></p>

<p>Musk acquired the social media platform for $44 billion in late October. To help cover his Twitter purchase, Musk sold his significant stake in Tesla and as a result&nbsp;the electric carmaker is no longer his biggest asset.</p>

<p><strong>Musk's declining wealth and raised interest rates</strong></p>

<p>Elon Musk has repeatedly taken to Twitter to take on the Federal Reserve for raising interest rates at the fastest pace in decades.&nbsp;</p>

<p>"Tesla is executing better than ever!" Musk wrote on Twitter on December 16. "We don’t control the Federal Reserve. That is the real problem here."</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/elon-musk-is-neglecting-tesla-says-analyst-543528">Elon Musk is 'neglecting Tesla,' says analyst</a>&nbsp;</strong></p>

<p>A report in Bloomberg cited a recent Elon Musk appearance in a podcast in which the billionaire business magnate is heard warning against the dangers of borrowed money during a volatile market phase.&nbsp;</p>

<p>"I would really advise people not to have margin debt in a volatile stock market and you know, from a cash standpoint, keep the powder dry," Musk is cited to have said in the All-In podcast released this month. "You can get some pretty extreme things happening in a down market."</p>

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Elon Musk became the only person in human history to lose $200 billion from net worth, Bloomberg Billionaire Index showed. After Amazon's Jeff Bezos, Musk was the second person with more than $200 billion of "personal fortune", a figure he achieved in January 2021.

Elon Musk became the only person in human history to lose $200 billion from net worth, Bloomberg Billionaire Index showed. After Amazon's Jeff Bezos, Musk was the second person with more than $200 billion of "personal fortune", a figure he achieved in January 2021. What exactly has led to decline in Musk's wealth? Elon Musk's wealth plummeted to $137 billion after Tesla shares declined in recent weeks. This includes a massive 11 per cent fall in Tesla shares on December 27. WATCH | Explained: The future of Twitter under Elon Musk × Tesla is now offering consumers in the United States a $7,500 discount for its two highest-volume models before year-end. It has also reportedly reduced production at its Shanghai plant. Musk's fortune topped at $340 billion in November 2021. Following this, he was the world's richest person for more than a year at a stretch. He was then overtaken this month by Bernard Arnault, the French business magnate and co-founder of luxury goods powerhouse LVMH. The Twitter effect Musk acquired the social media platform for $44 billion in late October. To help cover his Twitter purchase, Musk sold his significant stake in Tesla and as a result the electric carmaker is no longer his biggest asset. Musk's declining wealth and raised interest rates Elon Musk has repeatedly taken to Twitter to take on the Federal Reserve for raising interest rates at the fastest pace in decades. "Tesla is executing better than ever!" Musk wrote on Twitter on December 16. "We don’t control the Federal Reserve. That is the real problem here." ALSO READ | Elon Musk is 'neglecting Tesla,' says analyst A report in Bloomberg cited a recent Elon Musk appearance in a podcast in which the billionaire business magnate is heard warning against the dangers of borrowed money during a volatile market phase. "I would really advise people not to have margin debt in a volatile stock market and you know, from a cash standpoint, keep the powder dry," Musk is cited to have said in the All-In podcast released this month. "You can get some pretty extreme things happening in a down market." WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Elon Musk becomes first person in history to lose $200 billion in net worth

<p>Amid the impact of increased interest rates executed by the US Feds earlier this year, Wall Street in New York concluded its worst year since 2008 on December 30.&nbsp;The S&amp;P 500, a key US stock index, fell 19.4 per cent in 2022 as policy effects to fight inflation gave rise to increased interest rates by Federal Reserve bodies around the world.&nbsp;Nasdaq 100, another important stock index dropped 33 per cent in 2022.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/2022-when-global-economy-started-bleeding-547838">2022: When global economy started bleeding</a></strong></p>

<p>Bonds in the US market lost 16 per cent of their value, the biggest decline since at least 1990. This was also because of the same reason; increased interest rates by the central banks to slow rising consumer prices.</p>

<p>It was the worst year in more than a decade for global equities and bonds—but it’s finally over, said a Bloomberg report.&nbsp;</p>

<p><strong>'2023 to be a bumpy ride'</strong></p>

<p>Experts cited in the US media say that the post-pandemic 2022 experience will give a "rearview mirror" perspective to buyers and investors in 2023.&nbsp;</p>

<p><strong>WATCH |&nbsp;<a href="https://www.wionews.com/videos/gravitas-us-stocks-lose-7-trillion-in-2022-478749">Gravitas: US stocks lose $7 trillion in 2022</a></strong></p>

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"The good news is that we will soon put the year in the rearview mirror,” Art Hogan, chief market strategist at Los Angeles-based B. Riley Wealth, told Bloomberg.</p>

<p>"The bad news is that 2023 could be a bumpy ride, at least for the first few months," he added.</p>

<p>As the U.S. economy heads toward a possible recession, the Federal Reserve may raise interest rates further.&nbsp;Higher interest rates are central banks’ primary tool for controlling&nbsp;inflation.</p>

<p>When rates rise, borrowing costs also increase, slowing demand in the economy and in theory tempering further price increases.</p>

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Amid the impact of increased interest rates executed by the US Feds earlier this year, Wall Street in New York concluded its worst year since 2008 on December 30.

Amid the impact of increased interest rates executed by the US Feds earlier this year, Wall Street in New York concluded its worst year since 2008 on December 30. The S&P 500, a key US stock index, fell 19.4 per cent in 2022 as policy effects to fight inflation gave rise to increased interest rates by Federal Reserve bodies around the world. Nasdaq 100, another important stock index dropped 33 per cent in 2022. ALSO READ | 2022: When global economy started bleeding Bonds in the US market lost 16 per cent of their value, the biggest decline since at least 1990. This was also because of the same reason; increased interest rates by the central banks to slow rising consumer prices. It was the worst year in more than a decade for global equities and bonds—but it’s finally over, said a Bloomberg report. '2023 to be a bumpy ride' Experts cited in the US media say that the post-pandemic 2022 experience will give a "rearview mirror" perspective to buyers and investors in 2023. WATCH | Gravitas: US stocks lose $7 trillion in 2022 × "The good news is that we will soon put the year in the rearview mirror,” Art Hogan, chief market strategist at Los Angeles-based B. Riley Wealth, told Bloomberg. "The bad news is that 2023 could be a bumpy ride, at least for the first few months," he added. As the U.S. economy heads toward a possible recession, the Federal Reserve may raise interest rates further. Higher interest rates are central banks’ primary tool for controlling inflation. When rates rise, borrowing costs also increase, slowing demand in the economy and in theory tempering further price increases. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Wall Street braces for a 'bumpy' 2023 after worst year since 2008

<p>Former Pope Benedict XVI died at his Vatican residence at the age of 95, the Vatican announced on Saturday. He led the Catholic Church for about eight years until 2013 and&nbsp;was one of the oldest Popes to be ever elected.&nbsp;Born Joseph Ratzinger in Germany, Benedict was 78 when in 2005 when he was elected Pope. Besides being one of the oldest Popes, he was the first from Germany in over 1000 years&nbsp;to be elected as head of the Catholic Church in Vatican City.&nbsp;<br />
<br />
Pope Benedict XVI was the first Pope to resign since Pope Gregory XII in 1415.<br />
<br />
Bells rang out across the Vatican on Saturday after the death of former Pope Benedict was announced by a spokesman for the Holy See.</p>

<p>The Holy See Press Office announced that the Pope Emeritus died at 9:34 am on Saturday in his residence at the Mater Ecclesiae Monastery, which he had chosen as his residence after resigning from the Petrine ministry in 2013.</p>

<p>“With sorrow I inform you that the Pope Emeritus, Benedict XVI, passed away today at 9:34 in the Mater Ecclesiae Monastery in the Vatican,” Vatican spokesman Matteo Bruni said in a statement. “Further information will be provided as soon as possible.&nbsp;&nbsp;As of Monday morning, 2 January 2023, the body of the Pope Emeritus will be in Saint Peter's Basilica so the faithful can bid farewell.”</p>

<p>The health condition&nbsp;of the Pope Emeritus had worsened over the past several due to advancing age.&nbsp;Pope Francis had himself publicly shared the news about his predecessor's worsening health at the end of the last General Audience of the year, on 28th December.</p>

<p>Pope Francis visited him frequently and appealed to people to pray for the former Pope's health.&nbsp;</p>

<p>"Remember him, because he is very ill, asking the Lord to console and support him," Francis said on Friday.&nbsp;</p>

<p>Benedict had cited his declining physical and mental health back in 2013 during his decision to stand down as head of the worldwide Catholic church.&nbsp;The Pope Emeritus since lived a quiet life, rarely appearing in public.</p>

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Former Pope Benedict XVI died at his Vatican residence at the age of 95, the Vatican announced on Saturday. He led the Catholic Church for about eight years until 2013 and was one of the oldest Popes to be ever elected.

Former Pope Benedict XVI died at his Vatican residence at the age of 95, the Vatican announced on Saturday. He led the Catholic Church for about eight years until 2013 and was one of the oldest Popes to be ever elected. Born Joseph Ratzinger in Germany, Benedict was 78 when in 2005 when he was elected Pope. Besides being one of the oldest Popes, he was the first from Germany in over 1000 years to be elected as head of the Catholic Church in Vatican City. Pope Benedict XVI was the first Pope to resign since Pope Gregory XII in 1415. Bells rang out across the Vatican on Saturday after the death of former Pope Benedict was announced by a spokesman for the Holy See. The Holy See Press Office announced that the Pope Emeritus died at 9:34 am on Saturday in his residence at the Mater Ecclesiae Monastery, which he had chosen as his residence after resigning from the Petrine ministry in 2013. “With sorrow I inform you that the Pope Emeritus, Benedict XVI, passed away today at 9:34 in the Mater Ecclesiae Monastery in the Vatican,” Vatican spokesman Matteo Bruni said in a statement. “Further information will be provided as soon as possible. As of Monday morning, 2 January 2023, the body of the Pope Emeritus will be in Saint Peter's Basilica so the faithful can bid farewell.” The health condition of the Pope Emeritus had worsened over the past several due to advancing age. Pope Francis had himself publicly shared the news about his predecessor's worsening health at the end of the last General Audience of the year, on 28th December. Pope Francis visited him frequently and appealed to people to pray for the former Pope's health. "Remember him, because he is very ill, asking the Lord to console and support him," Francis said on Friday. Benedict had cited his declining physical and mental health back in 2013 during his decision to stand down as head of the worldwide Catholic church. The Pope Emeritus since lived a quiet life, rarely appearing in public. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Former Pope Benedict XVI passes away at 95 in Vatican City

<p>Myanmar's deposed leader and Nobel Peace laureate Aung San Suu Kyi was&nbsp;jailed for seven years for corruption on Friday by a military&nbsp;court.&nbsp;</p>

<p>The court said on Friday that the 77-year-old did not follow financial regulations in renting and buying a helicopter between 2019 and 2021. A total of five counts of corruption were laid on Suu Kyi. All were related to the hiring and maintaining of a helicopter that had caused a "loss to the state".</p>

<p>Her prison term now totals 33 years after 18-month-long court trials.</p>

<p><strong>WATCH |&nbsp;<a href="https://www.wionews.com/videos/convicted-over-corruption-charges-myanmars-aung-san-suu-kyi-gets-5-years-in-prison-474300">Convicted over corruption charges, Myanmar's Aung San Suu Kyi gets 5 years in prison</a></strong></p>

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<p>A prisoner of the military since the 2021 coup, Suu Kyi, 77, has been convicted on every charge levelled against her, ranging from corruption to illegally possessing walkie-talkies and flouting Covid restrictions.&nbsp;</p>

<p>"All her cases were finished and there are no more charges against her," an anonymous source was quoted as saying by the news agency AFP.</p>

<p>Suu Kyi appeared in good health, the source added.</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/south-asia/myanmars-aung-san-suu-kyi-found-guilty-of-corruption-by-military-court-faces-total-sentence-of-26-years-524680">Myanmar's Aung San Suu Kyi held guilty by military court for accepting bribes; terms it absurd</a></strong></p>

<p>Journalists have been barred from attending the court hearings and Suu Kyi's lawyers have been banned from speaking to the media.</p>

<p>Since her trial began, she has been seen only once. Suu Kyi has been reliant on lawyers to relay messages to the world.</p>

<p>Myanmar has been in turmoil since the 2021 coup, with more than 2,600 people since killed in the military's crackdown on dissent, according to a local monitoring group.</p>

<p><em>(With inputs from agencies)</em></p>

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Myanmar's deposed leader and Nobel Peace laureate Aung San Suu Kyi was jailed for seven years for corruption on Friday by a military court. The court said on Friday that the 77-year-old did not follow financial regulations in renting and buying a helicopter between 2019 and 2021.

Myanmar's deposed leader and Nobel Peace laureate Aung San Suu Kyi was jailed for seven years for corruption on Friday by a military court. The court said on Friday that the 77-year-old did not follow financial regulations in renting and buying a helicopter between 2019 and 2021. A total of five counts of corruption were laid on Suu Kyi. All were related to the hiring and maintaining of a helicopter that had caused a "loss to the state". Her prison term now totals 33 years after 18-month-long court trials. WATCH | Convicted over corruption charges, Myanmar's Aung San Suu Kyi gets 5 years in prison × A prisoner of the military since the 2021 coup, Suu Kyi, 77, has been convicted on every charge levelled against her, ranging from corruption to illegally possessing walkie-talkies and flouting Covid restrictions. "All her cases were finished and there are no more charges against her," an anonymous source was quoted as saying by the news agency AFP. Suu Kyi appeared in good health, the source added. ALSO READ | Myanmar's Aung San Suu Kyi held guilty by military court for accepting bribes; terms it absurd Journalists have been barred from attending the court hearings and Suu Kyi's lawyers have been banned from speaking to the media. Since her trial began, she has been seen only once. Suu Kyi has been reliant on lawyers to relay messages to the world. Myanmar has been in turmoil since the 2021 coup, with more than 2,600 people since killed in the military's crackdown on dissent, according to a local monitoring group. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Myanmar court jails Suu Kyi for 33 years as secretive trial ends

<p>Indian Cricketer Rishabh Pant was reported injured after he met an accident during the wee hours of Friday morning. He was reportedly travelling to his hometown in the Roorkee district of the north Indian state of Uttarakhand. Pant said that he dozed off while driving, following which his car collided and subsequently caught fire.&nbsp;</p>

<p>He was reportedly alone in his Mercedes car at the time of the accident and broke a window to escape. The vehicle caught fire moments after the accident. Visuals from the spot of the accident showed badly charred remains of the vehicle.&nbsp;Pant suffered injuries on his head, back and feet but is in stable condition, news agency PTI reported.&nbsp;</p>

<p><strong>Cricketer suffers burn injuries</strong></p>

<p>The 25-year-old wicketkeeper-batter suffered burn injuries.</p>

<p>However, comments by police officials cited in the media said that Rishabh Pant's condition is not serious.&nbsp;</p>

<p>"Cricketer Rishabh Pant's car met with an accident between Manglaur and Narsan in the Haridwar district. He has been shifted to Max Hospital Dehradun after giving primary treatment at Roorkee Civil Hospital. The accident took place on NH-58 in Manglaur Police Station area," a police official was quoted as saying by news agency ANI.&nbsp;</p>

<p>The state government sprung into action after reports of Rishabh Pant's car accident. The Chief Minister of the state of Uttarakhand Pushkar Singh Dhami instructed officials "to ensure all possible arrangements for the treatment of the injured cricketer", in addition to providing an air ambulance if required.</p>

<p>Rishabh Pant was left out of India's squads for the upcoming T20I and ODI series against Sri Lanka, scheduled to begin on January 3. He was due to attend National Cricket Academy in Bengaluru before the February Test series against Australia.</p>

<p>He most recently scored 93 runs in the second Test match against Bangladesh in Mirpur, helping India win the series 2-0.&nbsp;</p>

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Indian Cricketer Rishabh Pant was reported injured after he met an accident during the wee hours of Friday morning. He was reportedly travelling to his hometown in the Roorkee district of the north Indian state of Uttarakhand.

Indian Cricketer Rishabh Pant was reported injured after he met an accident during the wee hours of Friday morning. He was reportedly travelling to his hometown in the Roorkee district of the north Indian state of Uttarakhand. Pant said that he dozed off while driving, following which his car collided and subsequently caught fire. He was reportedly alone in his Mercedes car at the time of the accident and broke a window to escape. The vehicle caught fire moments after the accident. Visuals from the spot of the accident showed badly charred remains of the vehicle. Pant suffered injuries on his head, back and feet but is in stable condition, news agency PTI reported. Cricketer suffers burn injuries The 25-year-old wicketkeeper-batter suffered burn injuries. However, comments by police officials cited in the media said that Rishabh Pant's condition is not serious. "Cricketer Rishabh Pant's car met with an accident between Manglaur and Narsan in the Haridwar district. He has been shifted to Max Hospital Dehradun after giving primary treatment at Roorkee Civil Hospital. The accident took place on NH-58 in Manglaur Police Station area," a police official was quoted as saying by news agency ANI. The state government sprung into action after reports of Rishabh Pant's car accident. The Chief Minister of the state of Uttarakhand Pushkar Singh Dhami instructed officials "to ensure all possible arrangements for the treatment of the injured cricketer", in addition to providing an air ambulance if required. Rishabh Pant was left out of India's squads for the upcoming T20I and ODI series against Sri Lanka, scheduled to begin on January 3. He was due to attend National Cricket Academy in Bengaluru before the February Test series against Australia. He most recently scored 93 runs in the second Test match against Bangladesh in Mirpur, helping India win the series 2-0. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. . ×

Indian cricketer Rishabh Pant injured in car crash

<p>Sam Bankman-Fried, the former cryptocurrency mogul, held multiple meetings with senior White House officials during the months leading up to the collapse of FTX, which operated as one of the world's biggest cryptocurrency exchange companies at its zenith.&nbsp;</p>

<p>According to the White House logs published in a Bloomberg report, Sam Bankman-Fried met with one of the senior advisers of US President Joe Biden on September 8. The FTX filed for bankruptcy on November 11, 2022.&nbsp;</p>

<p>Prior to that, Bankman-Fried held meetings with White House officials in April and May, White House logs cited by Bloomberg showed. Sam Bankman-Fried's brother Gabriel Bankman-Fried, too, met a White House official in March.</p>

<p><strong>WATCH |&nbsp;<a href="https://www.wionews.com/videos/sam-bankman-fried-and-ftx-collapse-fried-yet-to-enter-plea-546267">Sam Bankman-Fried and FTX collapse; Fried yet to enter plea</a></strong></p>

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<p>The White House meetings reportedly focused on "general discussion of the crypto industry and exchanges," as well as pandemic prevention related to the foundation, Guarding Against Pandemics, run by Gabe Bankman-Fried, another brother of Sam Bankman-Fried, the report said, citing a White House official.</p>

<p>According to the Washington-based Centre for Responsive Politics, Bankman-Fried contributed more than $70 million to election campaigns in less than 18 months and was among the top political donors in the United States. He reportedly gave at least $40 million to politicians and political action committees ahead of the 2022 midterm elections, mostly to Democrats and liberal-leaning groups, making him the second overall top donor to Democrats.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/sam-bankman-fried-flies-to-us-after-consenting-to-extradition-top-ftx-aides-plead-guilty-545317">Sam Bankman-Fried reaches US after consenting to extradition, top FTX aides plead guilty</a></strong></p>

<p>According to a Manhattan court filing, FTX owes its 50 largest creditors almost $3.1 billion in credit. Bankman-Fried is accused of engaging in a scheme to defraud FTX customers by using billions of dollars in stolen deposits to pay for expenses and debts and to make investments for his crypto hedge fund, Alameda Research LLC.&nbsp;</p>

<p>Bankman-Fried has acknowledged “risk management failings” at FTX but has said he does not believe he has criminal liability.</p>

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Sam Bankman-Fried, the former cryptocurrency mogul, held multiple meetings with senior White House officials during the months leading up to the collapse of FTX, which operated as one of the world's biggest cryptocurrency exchange companies at its zenith.

Sam Bankman-Fried, the former cryptocurrency mogul, held multiple meetings with senior White House officials during the months leading up to the collapse of FTX, which operated as one of the world's biggest cryptocurrency exchange companies at its zenith. According to the White House logs published in a Bloomberg report, Sam Bankman-Fried met with one of the senior advisers of US President Joe Biden on September 8. The FTX filed for bankruptcy on November 11, 2022. Prior to that, Bankman-Fried held meetings with White House officials in April and May, White House logs cited by Bloomberg showed. Sam Bankman-Fried's brother Gabriel Bankman-Fried, too, met a White House official in March. WATCH | Sam Bankman-Fried and FTX collapse; Fried yet to enter plea × The White House meetings reportedly focused on "general discussion of the crypto industry and exchanges," as well as pandemic prevention related to the foundation, Guarding Against Pandemics, run by Gabe Bankman-Fried, another brother of Sam Bankman-Fried, the report said, citing a White House official. According to the Washington-based Centre for Responsive Politics, Bankman-Fried contributed more than $70 million to election campaigns in less than 18 months and was among the top political donors in the United States. He reportedly gave at least $40 million to politicians and political action committees ahead of the 2022 midterm elections, mostly to Democrats and liberal-leaning groups, making him the second overall top donor to Democrats. ALSO READ | Sam Bankman-Fried reaches US after consenting to extradition, top FTX aides plead guilty According to a Manhattan court filing, FTX owes its 50 largest creditors almost $3.1 billion in credit. Bankman-Fried is accused of engaging in a scheme to defraud FTX customers by using billions of dollars in stolen deposits to pay for expenses and debts and to make investments for his crypto hedge fund, Alameda Research LLC. Bankman-Fried has acknowledged “risk management failings” at FTX but has said he does not believe he has criminal liability. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

As top Democrat donor, Sam Bankman-Fried had access to White House: Report

Remembering Pelé: The legend who unified game and glory | In pics

<p>A former Chinese Communist Party (CCP) secretary pleaded guilty to corruption charges in the heavily industrialised eastern coastal province of Zhejiang, reported Chinese state media on December 29. Xiao Yi, the former Communist Party secretary of the city of Fuzhou was accused of accepting over 125 million Chinese Yuan ($18 million) in bribes related to construction programs and illegal promotions. He pleaded guilty in the Zhejiang Hangzhou Intermediate People's Court, the state-owned daily news program Xinwen Lianbo reported.</p>

<p><strong>Xiao Yi did corrupt practices for Bitcoin miners: Chinese state media</strong></p>

<p>In addition to the bribing charges, Yi also pleaded guilty to charges related to transactions with the Bitcoin miners between 2017 and 2021. Xiao Yi was Fuzhou city's Communist Party secretary between 2008 to 2021. It is unclear if the series of charges were related.</p>

<p>"During his 2017 to 2021 tenure as the Communist Party Secretary of the City of Fuzhou, Xiao Yi provided support to cryptocurrency mining companies in the form of subsidies, capital aid, and electricity assurance. These acts were contrary to national regulations, the theory of New Development, and led to massive losses in public property, leading to adverse consequences," state-owned daily news program Xinwen Lianbo reported.&nbsp;</p>

<p>The quantum of the sentence will reportedly be announced at a later session of the Zhejiang Hangzhou Intermediate People's Court.</p>

<p><strong>Cryptocurrency mining banned in China</strong></p>

<p>Since September 2021, cryptocurrency mining — the process of creating new digital "coins"— remains banned in China. Beijing banned cryptocurrency mining, citing carbon neutrality pledges and "high energy costs". A law bans access to electricity and capital markets for individuals&nbsp;engaging in the creation of new digital coins.&nbsp;</p>

<p>The ban, however, has been difficult to enforce. This is due to crypto mining’s decentralised nature.&nbsp;</p>

<p>In May 2022, cryptocurrency news platform Cointelegraph reported that China is the world’s second-biggest Bitcoin mining hub despite the ban.&nbsp;</p>

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A former Chinese Communist Party (CCP) secretary pleaded guilty to corruption charges in the heavily industrialised eastern coastal province of Zhejiang, reported Chinese state media on December 29.

A former Chinese Communist Party (CCP) secretary pleaded guilty to corruption charges in the heavily industrialised eastern coastal province of Zhejiang, reported Chinese state media on December 29. Xiao Yi, the former Communist Party secretary of the city of Fuzhou was accused of accepting over 125 million Chinese Yuan ($18 million) in bribes related to construction programs and illegal promotions. He pleaded guilty in the Zhejiang Hangzhou Intermediate People's Court, the state-owned daily news program Xinwen Lianbo reported. Xiao Yi did corrupt practices for Bitcoin miners: Chinese state media In addition to the bribing charges, Yi also pleaded guilty to charges related to transactions with the Bitcoin miners between 2017 and 2021. Xiao Yi was Fuzhou city's Communist Party secretary between 2008 to 2021. It is unclear if the series of charges were related. "During his 2017 to 2021 tenure as the Communist Party Secretary of the City of Fuzhou, Xiao Yi provided support to cryptocurrency mining companies in the form of subsidies, capital aid, and electricity assurance. These acts were contrary to national regulations, the theory of New Development, and led to massive losses in public property, leading to adverse consequences," state-owned daily news program Xinwen Lianbo reported. The quantum of the sentence will reportedly be announced at a later session of the Zhejiang Hangzhou Intermediate People's Court. Cryptocurrency mining banned in China Since September 2021, cryptocurrency mining — the process of creating new digital "coins"— remains banned in China. Beijing banned cryptocurrency mining, citing carbon neutrality pledges and "high energy costs". A law bans access to electricity and capital markets for individuals engaging in the creation of new digital coins. The ban, however, has been difficult to enforce. This is due to crypto mining’s decentralised nature. In May 2022, cryptocurrency news platform Cointelegraph reported that China is the world’s second-biggest Bitcoin mining hub despite the ban. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Former Chinese Communist Party official pleads guilty for helping crypto miners: State media

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