Ukrainian officials reached out to India on Wednesday, seeking investments to revive their war-battered economy.<o:p></o:p>

This is based on a Reuters report. <o:p></o:p>

At a business summit in Gujarat, Deputy Economy Minister Volodymyr Kuzyo presented a compelling vision, claiming Ukraine's resurgence would be a "win-win" for both nations and the international community.<o:p></o:p>

This outreach marks a potential turning point in India-Ukraine relations, which have been strained since Russia's invasion. <o:p></o:p>

India's neutral stance and increased energy imports from Russia have drawn criticism from Western allies supporting Ukraine. <o:p></o:p>

However, the seminar, titled "Ukraine–India: Investment Opportunities for a Better Future," signalled a possible shift.<o:p></o:p>

Despite the ongoing conflict, Ukrainian officials emphasised their economic resilience and EU accession aspirations. <o:p></o:p>

Kuzyo highlighted over $30 billion in potential private sector investment opportunities, primarily in the energy sector but also encompassing reconstruction and infrastructure projects like motorways, ports, and railroads. <o:p></o:p>

Demining efforts also emerged as a crucial area, with Ukraine seeking equipment to survey the vast swathes of potentially contaminated land.<o:p></o:p>

To incentivise Indian investment, Kuzyo outlined potential benefits like import duty exemptions, subsidies, and support from international financial institutions and insurers.<o:p></o:p>

This comprehensive package aims to make Ukraine an attractive investment destination despite the ongoing war.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Ukrainian officials reached out to India on Wednesday, seeking investments to revive their war-battered economy. This is based on a Reuters report. At a business summit in Gujarat, Deputy Economy Minister Volodymyr Kuzyo presented a compelling vision, claiming Ukraine's resurgence would be a "win-win" for both nations and the international community.

Ukrainian officials reached out to India on Wednesday, seeking investments to revive their war-battered economy. This is based on a Reuters report. At a business summit in Gujarat, Deputy Economy Minister Volodymyr Kuzyo presented a compelling vision, claiming Ukraine's resurgence would be a "win-win" for both nations and the international community. This outreach marks a potential turning point in India-Ukraine relations, which have been strained since Russia's invasion. India's neutral stance and increased energy imports from Russia have drawn criticism from Western allies supporting Ukraine. However, the seminar, titled "Ukraine–India: Investment Opportunities for a Better Future," signalled a possible shift. Despite the ongoing conflict, Ukrainian officials emphasised their economic resilience and EU accession aspirations. Kuzyo highlighted over $30 billion in potential private sector investment opportunities, primarily in the energy sector but also encompassing reconstruction and infrastructure projects like motorways, ports, and railroads. Demining efforts also emerged as a crucial area, with Ukraine seeking equipment to survey the vast swathes of potentially contaminated land. To incentivise Indian investment, Kuzyo outlined potential benefits like import duty exemptions, subsidies, and support from international financial institutions and insurers. This comprehensive package aims to make Ukraine an attractive investment destination despite the ongoing war. (With inputs from Reuters)

Ukraine courts India for economic rebuild, highlighting opportunities despite ongoing war

Foreign investors have continued their exodus from South African stocks, marking the eighth consecutive year of outflows, with a total of over $50 billion leaving the market.<o:p></o:p>

This is based on a Bloomberg report.<o:p></o:p>

&nbsp;

Last year, South African equities worth $8.3 billion were sold, marking a record-long streak of decreasing foreign interest. <o:p></o:p>

The past decade has proven challenging for emerging markets, reflected in Morgan Stanley Capital International's benchmark index gaining just over 3 per cent. <o:p></o:p>

However, the Johannesburg benchmark index faced a loss of nearly 6 per cent in dollar terms, compounded by a 42 per cent depreciation of the rand against other currencies of developing nations.<o:p></o:p>

Foreign investors' apprehensions about South Africa stem from a series of challenges, including corruption scandals, an energy crisis linked to the debt-ridden Eskom Holdings utility, and turmoil at Transnet SOC, the state-run rail and ports operator. <o:p></o:p>

Bloomberg cited Ashish Chugh, a portfolio manager at Loomis, who pointed to these factors as contributors to foreign investors' wariness. <o:p></o:p>

High levels of unemployment and public debt further complicate&nbsp;the challenges, especially as the nation approaches what is expected to be its most competitive election since the establishment of democracy in 1994. <o:p></o:p>

However, Chugh also noted the potential for improved investor sentiment if the winning party implements robust reforms and policies to address investor concerns.<o:p></o:p>

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Foreign investors have continued their exodus from South African stocks, marking the eighth consecutive year of outflows, with a total of over $50 billion leaving the market.

Foreign investors have continued their exodus from South African stocks, marking the eighth consecutive year of outflows, with a total of over $50 billion leaving the market. This is based on a Bloomberg report. Last year, South African equities worth $8.3 billion were sold, marking a record-long streak of decreasing foreign interest. The past decade has proven challenging for emerging markets, reflected in Morgan Stanley Capital International's benchmark index gaining just over 3 per cent. However, the Johannesburg benchmark index faced a loss of nearly 6 per cent in dollar terms, compounded by a 42 per cent depreciation of the rand against other currencies of developing nations. Foreign investors' apprehensions about South Africa stem from a series of challenges, including corruption scandals, an energy crisis linked to the debt-ridden Eskom Holdings utility, and turmoil at Transnet SOC, the state-run rail and ports operator. Bloomberg cited Ashish Chugh, a portfolio manager at Loomis, who pointed to these factors as contributors to foreign investors' wariness. High levels of unemployment and public debt further complicate the challenges, especially as the nation approaches what is expected to be its most competitive election since the establishment of democracy in 1994. However, Chugh also noted the potential for improved investor sentiment if the winning party implements robust reforms and policies to address investor concerns. WATCH WION LIVE HERE

South Africa sees $50 bn foreign investment exodus in record eighth year

In a bid to avert a looming financial crisis within the UK's town halls, Simon Hoare, the Minister for Local Government, is encouraging councils to utilise their reserves for day-to-day expenses.<o:p></o:p>

According to Bloomberg, Hoare emphasised that the reserves, often allocated for emergencies, should be deployed cautiously to benefit communities. <o:p></o:p>

He argued that many councils bolstered their rainy-day funds during the pandemic and that tapping into these reserves is a sensible approach.<o:p></o:p>

However, the call has faced criticism from the Labour opposition, deeming it "ridiculous," along with scepticism from local authorities.<o:p></o:p>

At the Local Government Association conference on council finances, Minister Simon Hoare defended the idea. <o:p></o:p>

"Reserves are not there to be guarded like they are the sort of flame of the vestal virgins, never to be touched. They are to be used prudently and sensibly for the benefit of communities," Bloomberg quoted Hoare as saying. <o:p></o:p>

He emphasised that the reserves are up post-Covid and encouraged councils to leverage these funds.<o:p></o:p>

However, Labour's shadow minister, Jim McMahon, criticised the notion, stating that tapping into one-off reserves to address financial pressures is "ridiculous" and that the higher the risk, the more reserves are needed.<o:p></o:p>

The government's urging of councils to use reserves for day-to-day spending, such as employing staff and running public services, contradicts the usual advice to maintain reserves for sudden emergencies and to even out cash flow. <o:p></o:p>

The Local Government Association (LGA) has cautioned that one in five councils are on the verge of declaring effective bankruptcy in the coming year or two. <o:p></o:p>

Despite ministerial assurances that the number of councils at risk is lower, the LGA maintains that cuts to central government grants, inflation, and rising service demand have left many councils financially strained.<o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

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In a bid to avert a looming financial crisis within the UK's town halls, Simon Hoare, the Minister for Local Government, is encouraging councils to utilise their reserves for day-to-day expenses.

In a bid to avert a looming financial crisis within the UK's town halls, Simon Hoare, the Minister for Local Government, is encouraging councils to utilise their reserves for day-to-day expenses. According to Bloomberg, Hoare emphasised that the reserves, often allocated for emergencies, should be deployed cautiously to benefit communities. He argued that many councils bolstered their rainy-day funds during the pandemic and that tapping into these reserves is a sensible approach. However, the call has faced criticism from the Labour opposition, deeming it "ridiculous," along with scepticism from local authorities. At the Local Government Association conference on council finances, Minister Simon Hoare defended the idea. "Reserves are not there to be guarded like they are the sort of flame of the vestal virgins, never to be touched. They are to be used prudently and sensibly for the benefit of communities," Bloomberg quoted Hoare as saying. He emphasised that the reserves are up post-Covid and encouraged councils to leverage these funds. However, Labour's shadow minister, Jim McMahon, criticised the notion, stating that tapping into one-off reserves to address financial pressures is "ridiculous" and that the higher the risk, the more reserves are needed. The government's urging of councils to use reserves for day-to-day spending, such as employing staff and running public services, contradicts the usual advice to maintain reserves for sudden emergencies and to even out cash flow. The Local Government Association (LGA) has cautioned that one in five councils are on the verge of declaring effective bankruptcy in the coming year or two. Despite ministerial assurances that the number of councils at risk is lower, the LGA maintains that cuts to central government grants, inflation, and rising service demand have left many councils financially strained. (With inputs from Bloomberg) WATCH WION LIVE HERE

UK government urges councils to dip into reserves amid financial crisis concerns

A series of proposed gaming restrictions in China has triggered a $32 billion slump in Tencent Holdings Ltd.'s stock, raising concerns that the downward spiral may not have reached its conclusion. <o:p></o:p>

This is according to a Bloomberg report.<o:p></o:p>

As the market grapples with the impact of Beijing's latest regulatory measures, an analysis of options market activity indicates a continued bearish sentiment towards Tencent. <o:p></o:p>

There is a rise in bets against the firm's stock compared to the bets in favourn of Tencent. This suggests that investors are hedging their positions, anticipating further market volatility.<o:p></o:p>

Investors appear cautious and have trimmed their bullish positions on Tencent's stock as they await the conclusion of a consultation on the proposed gaming guidelines scheduled for January 22. <o:p></o:p>

The current scenario echoes memories of the 2021 crackdown, leaving Tencent bulls wary of potential challenges. <o:p></o:p>

Despite Beijing's recent conciliatory gestures, including the removal of a key regulator and the approval of new games, uncertainties persist. <o:p></o:p>

Analysts note that the market lacks clarity on whether the removal of the official implies a withdrawal of the proposed rules, leading to a cautious approach among investors.<o:p></o:p>

Tencent's shares, despite a brief rebound, remain around 8 per cent below their pre-regulation announcement levels. <o:p></o:p>

China's crackdown has weighed heavily on the Hang Seng Tech Index, which fell 8.8 per cent last year, underperforming Tencent's 7.5 per cent decline. <o:p></o:p>

Market indicators, particularly in the options space, suggest that investors are preparing for potential worst-case scenarios. <o:p></o:p>

The proposed regulations, outlined in a 29-page consultation paper, encompass 64 items, with one rule focusing on limiting the maximum in-game spending by players. <o:p></o:p>

Tencent's domestic gaming revenue constitutes approximately 21 per cent of its total revenue.<o:p></o:p>

Despite the market's apprehension, some analysts argue that the share drop may be an overreaction.<o:p></o:p>

According to the Bloomberg report, JPMorgan Chase &amp; Co. analyst Alex Yao suggests that the proposed regulations aim more at curbing irrational spending than deterring overall consumption. <o:p></o:p>

Others, including Jian Shi Cortesi, a portfolio manager at GAM Investment Management, express optimism, viewing the measures as contributing to sustainable revenue generation and fostering healthier competition in the gaming industry. <o:p></o:p>

Tencent has initiated stock buybacks, purchasing a record HK$10 billion ($1.3 billion) worth of shares in December, yet these efforts have struggled to reverse the prevailing bearish sentiment.<o:p></o:p>

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A series of proposed gaming restrictions in China has triggered a $32 billion slump in Tencent Holdings Ltd.'s stock, raising concerns that the downward spiral may not have reached its conclusion.

A series of proposed gaming restrictions in China has triggered a $32 billion slump in Tencent Holdings Ltd.'s stock, raising concerns that the downward spiral may not have reached its conclusion. This is according to a Bloomberg report. As the market grapples with the impact of Beijing's latest regulatory measures, an analysis of options market activity indicates a continued bearish sentiment towards Tencent. There is a rise in bets against the firm's stock compared to the bets in favourn of Tencent. This suggests that investors are hedging their positions, anticipating further market volatility. Investors appear cautious and have trimmed their bullish positions on Tencent's stock as they await the conclusion of a consultation on the proposed gaming guidelines scheduled for January 22. The current scenario echoes memories of the 2021 crackdown, leaving Tencent bulls wary of potential challenges. Despite Beijing's recent conciliatory gestures, including the removal of a key regulator and the approval of new games, uncertainties persist. Analysts note that the market lacks clarity on whether the removal of the official implies a withdrawal of the proposed rules, leading to a cautious approach among investors. Tencent's shares, despite a brief rebound, remain around 8 per cent below their pre-regulation announcement levels. China's crackdown has weighed heavily on the Hang Seng Tech Index, which fell 8.8 per cent last year, underperforming Tencent's 7.5 per cent decline. Market indicators, particularly in the options space, suggest that investors are preparing for potential worst-case scenarios. The proposed regulations, outlined in a 29-page consultation paper, encompass 64 items, with one rule focusing on limiting the maximum in-game spending by players. Tencent's domestic gaming revenue constitutes approximately 21 per cent of its total revenue. Despite the market's apprehension, some analysts argue that the share drop may be an overreaction. According to the Bloomberg report, JPMorgan Chase & Co. analyst Alex Yao suggests that the proposed regulations aim more at curbing irrational spending than deterring overall consumption. Others, including Jian Shi Cortesi, a portfolio manager at GAM Investment Management, express optimism, viewing the measures as contributing to sustainable revenue generation and fostering healthier competition in the gaming industry. Tencent has initiated stock buybacks, purchasing a record HK$10 billion ($1.3 billion) worth of shares in December, yet these efforts have struggled to reverse the prevailing bearish sentiment. WATCH WION LIVE HERE

Tencent faces ongoing market turmoil as $32 bn stock decline persists

Amazon's popular live streaming platform, Twitch, is reportedly gearing up for a significant workforce reduction, planning to cut approximately 35 per cent of its staff, translating to around 500 employees.<o:p></o:p>

This is based on a Bloomberg report.<o:p></o:p>

While the formal announcement is anticipated to be made soon, the decision comes amid financial concerns for Twitch, with notable losses prompting internal restructuring. <o:p></o:p>

Twitch, a giant in the live streaming domain, is known for its colossal infrastructure supporting 1.8 billion hours of live video content monthly. <o:p></o:p>

Despite being under the Amazon umbrella, the platform grapples with the financial challenge of maintaining such a massive scale. <o:p></o:p>

Twitch CEO Dan Clancy recently revealed the cessation of operations in South Korea due to "prohibitively expensive" costs.<o:p></o:p>

Twitch's emphasis on advertising in recent years has yet to yield profitability, marking nine years since Amazon's acquisition. <o:p></o:p>

The company continues to face hurdles, necessitating strategic adjustments to navigate the competitive and financial landscape. <o:p></o:p>

Notably, several key executives departed from Twitch in the latter part of 2023, raising questions about the platform's leadership stability. <o:p></o:p>

A chief product officer, chief customer officer, chief content officer, and chief revenue officer, among others, left the company during this period. <o:p></o:p>

Bloomberg cited a Twitch spokesperson who expressed gratitude for their contributions and wished them well in their future endeavours, despite the departures.<o:p></o:p>

Twitch CEO Dan Clancy, who assumed the role in March 2023, embarked on a mission to rebuild relationships with gaming celebrities integral to the platform. <o:p></o:p>

His approach sought to address concerns raised by streamers about Twitch's original advertising strategy, leading to its re-evaluation. <o:p></o:p>

Clancy has endeavoured to bridge the communication gap with users, but financial challenges persist. In 2023, Twitch underwent two rounds of layoffs, eliminating over 400 positions, as part of broader workforce adjustments within Amazon. <o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

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Amazon's popular live streaming platform, Twitch, is reportedly gearing up for a significant workforce reduction, planning to cut approximately 35 per cent of its staff, translating to around 500 employees.

Amazon's popular live streaming platform, Twitch, is reportedly gearing up for a significant workforce reduction, planning to cut approximately 35 per cent of its staff, translating to around 500 employees. This is based on a Bloomberg report. While the formal announcement is anticipated to be made soon, the decision comes amid financial concerns for Twitch, with notable losses prompting internal restructuring. Twitch, a giant in the live streaming domain, is known for its colossal infrastructure supporting 1.8 billion hours of live video content monthly. Despite being under the Amazon umbrella, the platform grapples with the financial challenge of maintaining such a massive scale. Twitch CEO Dan Clancy recently revealed the cessation of operations in South Korea due to "prohibitively expensive" costs. Twitch's emphasis on advertising in recent years has yet to yield profitability, marking nine years since Amazon's acquisition. The company continues to face hurdles, necessitating strategic adjustments to navigate the competitive and financial landscape. Notably, several key executives departed from Twitch in the latter part of 2023, raising questions about the platform's leadership stability. A chief product officer, chief customer officer, chief content officer, and chief revenue officer, among others, left the company during this period. Bloomberg cited a Twitch spokesperson who expressed gratitude for their contributions and wished them well in their future endeavours, despite the departures. Twitch CEO Dan Clancy, who assumed the role in March 2023, embarked on a mission to rebuild relationships with gaming celebrities integral to the platform. His approach sought to address concerns raised by streamers about Twitch's original advertising strategy, leading to its re-evaluation. Clancy has endeavoured to bridge the communication gap with users, but financial challenges persist. In 2023, Twitch underwent two rounds of layoffs, eliminating over 400 positions, as part of broader workforce adjustments within Amazon. (With inputs from Bloomberg) WATCH WION LIVE HERE

Twitch, Amazon's live streaming platform, to trim workforce by 35pc with 500 job cuts

Intel on Tuesday marked its entry into the competitive arena of automotive semiconductors, challenging industry leaders Nvidia and Qualcomm. &nbsp;

According to Reuters, Intel aims to roll out automotive versions of its latest AI-enabled chips, designed to power the intelligence systems of future vehicles. &nbsp;

Intel's foray into the automotive semiconductor market includes the acquisition of French startup Silicon Mobility, specialising in system-on-a-chip technology and software for electric vehicle (EV) motors and onboard charging systems.&nbsp;

&nbsp;Although the purchase price remains undisclosed, the acquisition is seen as a strategic move to strengthen Intel's position in the EV segment. &nbsp;

Zeekr, a Chinese automaker, is set to be the first to implement Intel's AI system on a chip, integrating advanced features like AI voice assistants and video conferencing to create an "enhanced living room experience" within vehicles.&nbsp;

Reuters cited Jack Weast, Chief of Intel's automotive business, who highlighted the company's commitment to adapting its AI PC technology for vehicles, emphasising durability and performance to meet the demanding automotive environment. &nbsp;

Weast acknowledged Intel's previous under communication of success in the automotive sector and expressed the company's determination to change that narrative.&nbsp;

&nbsp;Intel aims to differentiate itself by providing versatile chips that can be utilised across a spectrum of vehicles, from entry-level to premium, challenging the scalability and cost-effectiveness of competitors like Nvidia.&nbsp;

In a bid to outpace rivals, Weast emphasised Intel's commitment to offering chips that are adaptable to various automotive needs, allowing automakers flexibility across their product lines. &nbsp;

Weast pointed out the potential scalability issues and high costs associated with powerful products, indirectly referring to Nvidia's offerings. &nbsp;

Nvidia, in response, formed an alliance with MediaTek to provide more cost-effective chipsets, targeting the demand for technology in lower-priced vehicles. &nbsp;

Additionally, Weast underscored Intel's commitment to being "agnostic" regarding the technology chosen by automakers for functions like automated driving. The company aims to provide options for integrating specific functions at a lower cost, offering flexibility to automakers.&nbsp;

Intel will not mandate the use of advanced driving chips from its Mobileye unit, allowing automakers to incorporate their own chiplets into Intel's system.&nbsp;

(With inputs from Reuters)&nbsp;

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Intel on Tuesday marked its entry into the competitive arena of automotive semiconductors, challenging industry leaders Nvidia and Qualcomm. According to Reuters, Intel aims to roll out automotive versions of its latest AI-enabled chips, designed to power the intelligence systems of future vehicles.

Intel on Tuesday marked its entry into the competitive arena of automotive semiconductors, challenging industry leaders Nvidia and Qualcomm. According to Reuters, Intel aims to roll out automotive versions of its latest AI-enabled chips, designed to power the intelligence systems of future vehicles. Intel's foray into the automotive semiconductor market includes the acquisition of French startup Silicon Mobility, specialising in system-on-a-chip technology and software for electric vehicle (EV) motors and onboard charging systems. Although the purchase price remains undisclosed, the acquisition is seen as a strategic move to strengthen Intel's position in the EV segment. Zeekr, a Chinese automaker, is set to be the first to implement Intel's AI system on a chip, integrating advanced features like AI voice assistants and video conferencing to create an "enhanced living room experience" within vehicles. Reuters cited Jack Weast, Chief of Intel's automotive business, who highlighted the company's commitment to adapting its AI PC technology for vehicles, emphasising durability and performance to meet the demanding automotive environment. Weast acknowledged Intel's previous under communication of success in the automotive sector and expressed the company's determination to change that narrative. Intel aims to differentiate itself by providing versatile chips that can be utilised across a spectrum of vehicles, from entry-level to premium, challenging the scalability and cost-effectiveness of competitors like Nvidia. In a bid to outpace rivals, Weast emphasised Intel's commitment to offering chips that are adaptable to various automotive needs, allowing automakers flexibility across their product lines. Weast pointed out the potential scalability issues and high costs associated with powerful products, indirectly referring to Nvidia's offerings. Nvidia, in response, formed an alliance with MediaTek to provide more cost-effective chipsets, targeting the demand for technology in lower-priced vehicles. Additionally, Weast underscored Intel's commitment to being "agnostic" regarding the technology chosen by automakers for functions like automated driving. The company aims to provide options for integrating specific functions at a lower cost, offering flexibility to automakers. Intel will not mandate the use of advanced driving chips from its Mobileye unit, allowing automakers to incorporate their own chiplets into Intel's system. (With inputs from Reuters) WATCH WION LIVE HERE

Intel unveils AI-powered chips for Cars, takes on Nvidia and Qualcomm  

BlackRock, the world's preeminent asset manager, declared plans on Tuesday to cut approximately 3 per cent of its existing workforce, Reuters reported.<o:p></o:p>

With a workforce of 19,800 as of December 2022, these cuts are expected to total roughly 600 positions. <o:p></o:p>

Despite this reduction, BlackRock aims for a larger headcount by the conclusion of 2024. <o:p></o:p>

Notably, the asset manager's shares have shown a modest 5 per cent increase over the past year, trailing the benchmark S&amp;P 500, which witnessed a robust 22 per cent gain during the same period.<o:p></o:p>

A source within the firm clarified that no single team will bear the brunt of the job cuts, reflecting a comprehensive approach to enhancing organisational efficiency. <o:p></o:p>

BlackRock's strategic moves are influenced by Chief Executive Larry Fink's vision, as he signalled the company's intent to explore acquisition opportunities in October, aiming to augment its growth trajectory.<o:p></o:p>

As of the third quarter of 2023, BlackRock managed assets worth $9.1 trillion, a slight dip from the previous quarter's total of $9.4 trillion.<o:p></o:p>

Fink acknowledged the challenges faced by the industry during the third quarter. <o:p></o:p>

"For the first time in nearly two decades, clients are earning a real return in cash and can wait for more policy and market certainty before re-risking. This dynamic weighed on the industry and BlackRock's third-quarter flows," Reuters quoted Fink as saying.<o:p></o:p>

As the market awaits BlackRock's fourth-quarter results, the organisation's shares experienced a marginal decline of 0.5 per cent in afternoon trading on Tuesday. <o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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BlackRock, the world's preeminent asset manager, declared plans on Tuesday to cut approximately 3 per cent of its existing workforce, Reuters reported. With a workforce of 19,800 as of December 2022, these cuts are expected to total roughly 600 positions.

BlackRock, the world's preeminent asset manager, declared plans on Tuesday to cut approximately 3 per cent of its existing workforce, Reuters reported. With a workforce of 19,800 as of December 2022, these cuts are expected to total roughly 600 positions. Despite this reduction, BlackRock aims for a larger headcount by the conclusion of 2024. Notably, the asset manager's shares have shown a modest 5 per cent increase over the past year, trailing the benchmark S&P 500, which witnessed a robust 22 per cent gain during the same period. A source within the firm clarified that no single team will bear the brunt of the job cuts, reflecting a comprehensive approach to enhancing organisational efficiency. BlackRock's strategic moves are influenced by Chief Executive Larry Fink's vision, as he signalled the company's intent to explore acquisition opportunities in October, aiming to augment its growth trajectory. As of the third quarter of 2023, BlackRock managed assets worth $9.1 trillion, a slight dip from the previous quarter's total of $9.4 trillion. Fink acknowledged the challenges faced by the industry during the third quarter. "For the first time in nearly two decades, clients are earning a real return in cash and can wait for more policy and market certainty before re-risking. This dynamic weighed on the industry and BlackRock's third-quarter flows," Reuters quoted Fink as saying. As the market awaits BlackRock's fourth-quarter results, the organisation's shares experienced a marginal decline of 0.5 per cent in afternoon trading on Tuesday. (With inputs from Reuters) WATCH WION LIVE HERE

BlackRock to cut 600 jobs amid market challenges

In a move to enhance its artificial intelligence (AI) capabilities, Hewlett Packard Enterprise (HPE) is set to acquire networking gear manufacturer Juniper Networks in an all-cash deal valued at $14 billion. <o:p></o:p>

According to a Reuters report, HPE's offer of $40 per share to Juniper shareholders represents a substantial 32.4 per cent premium over Monday's closing stock price. <o:p></o:p>

This acquisition aligns with the ongoing AI-driven transformations in the tech industry, where companies are heavily investing in upgrading and expanding their AI portfolios. <o:p></o:p>

HPE aims to leverage Juniper's expertise in areas such as network security and AI-enabled enterprise networking operations (AIOps) to revitalise its networking business, which has faced challenges in the wake of sluggish demand and formidable competition.<o:p></o:p>

The acquisition of Juniper Networks is expected to significantly bolster HPE's networking business, marking a crucial step in addressing challenges faced in its traditional server business. <o:p></o:p>

As the demand for AI technologies continues to surge, HPE aims to capitalise on Juniper's capabilities to stay competitive in the dynamic tech landscape. <o:p></o:p>

Juniper's focus on network security and AIOps aligns well with HPE's strategic objectives to enhance its AI offerings.<o:p></o:p>

&nbsp;The $14 billion deal positions HPE for substantial growth and diversification, presenting an opportunity to tap into the burgeoning AI market.<o:p></o:p>

Following the announcement of the acquisition, Juniper Networks experienced a modest 0.5 per cent increase in extended trading, while HPE's stock remained largely flat. <o:p></o:p>

The market's response reflects a cautious yet optimistic outlook. The deal is anticipated to be accretive to HPE's non-GAAP earnings and free cash flow within the first year post-completion. <o:p></o:p>

J.P. Morgan Securities LLC and Qatalyst Partners are serving as financial advisors for HPE, indicating a strategic approach to the transaction. <o:p></o:p>

The acquisition is expected to be financed through $14 billion in term loans, with the closing scheduled for late 2024 or early 2025, subject to regulatory approvals.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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In a move to enhance its artificial intelligence (AI) capabilities, Hewlett Packard Enterprise (HPE) is set to acquire networking gear manufacturer Juniper Networks in an all-cash deal valued at $14 billion.

In a move to enhance its artificial intelligence (AI) capabilities, Hewlett Packard Enterprise (HPE) is set to acquire networking gear manufacturer Juniper Networks in an all-cash deal valued at $14 billion. According to a Reuters report, HPE's offer of $40 per share to Juniper shareholders represents a substantial 32.4 per cent premium over Monday's closing stock price. This acquisition aligns with the ongoing AI-driven transformations in the tech industry, where companies are heavily investing in upgrading and expanding their AI portfolios. HPE aims to leverage Juniper's expertise in areas such as network security and AI-enabled enterprise networking operations (AIOps) to revitalise its networking business, which has faced challenges in the wake of sluggish demand and formidable competition. The acquisition of Juniper Networks is expected to significantly bolster HPE's networking business, marking a crucial step in addressing challenges faced in its traditional server business. As the demand for AI technologies continues to surge, HPE aims to capitalise on Juniper's capabilities to stay competitive in the dynamic tech landscape. Juniper's focus on network security and AIOps aligns well with HPE's strategic objectives to enhance its AI offerings. The $14 billion deal positions HPE for substantial growth and diversification, presenting an opportunity to tap into the burgeoning AI market. Following the announcement of the acquisition, Juniper Networks experienced a modest 0.5 per cent increase in extended trading, while HPE's stock remained largely flat. The market's response reflects a cautious yet optimistic outlook. The deal is anticipated to be accretive to HPE's non-GAAP earnings and free cash flow within the first year post-completion. J.P. Morgan Securities LLC and Qatalyst Partners are serving as financial advisors for HPE, indicating a strategic approach to the transaction. The acquisition is expected to be financed through $14 billion in term loans, with the closing scheduled for late 2024 or early 2025, subject to regulatory approvals. (With inputs from Reuters) WATCH WION LIVE HERE

Hewlett Packard Enterprise announces $14 billion acquisition of Juniper Networks

ByteDance, the parent company of popular social media platform TikTok on Tuesday, announced that it was engaging in discussions with potential buyers for its gaming assets, marking a move away from the gaming industry. <o:p></o:p>

According to Reuters, Tencent, the world's largest video games company might be one of the potential suitors.<o:p></o:p>

A ByteDance spokesperson cited by Reuters said that, while talks are ongoing, no conclusive deal has been reached yet.<o:p></o:p>

ByteDance's gaming unit, Nuverse, is at the centre of these negotiations. <o:p></o:p>

Notable titles such as "Crystal of Atland" and "Earth: Revival" are reportedly part of the discussions between ByteDance and Tencent, as reported by local media outlet LatePost. <o:p></o:p>

The move comes as ByteDance continues its efforts to reallocate resources and focus on core business areas, having declared its intention to step back from the gaming sector back in November.<o:p></o:p>

In a statement, ByteDance emphasised its commitment to the strategic overhaul of Nuverse, clarifying that it would no longer pursue the gaming market actively. <o:p></o:p>

Industry insiders revealed that the company has discontinued with the development of unreleased games and has aimed to divest from titles that have already been launched.<o:p></o:p>

This shift follows five years of ByteDance's prominent presence in the global video games market, estimated to be worth $185 billion.<o:p></o:p>

The gaming community has been closely watching ByteDance's move to sell Moonton, another gaming unit acquired in 2021, as reported by Reuters in November. <o:p></o:p>

ByteDance's decision to divest itself of gaming assets indicates a shift in its corporate strategy, aligning with its renewed focus on key business areas.<o:p></o:p>

As of now, potential buyers for Moonton remain undisclosed.<o:p></o:p>

Notably, the relationship between ByteDance and Tencent has seen a positive turn after a period of intense competition. <o:p></o:p>

The companies are now reportedly in talks for a potential deal, showcasing a shift from rivalry to collaboration. <o:p></o:p>

This newfound cooperation is evident in Tencent's utilisation of ByteDance's advertising network to promote its latest game, "DreamStar," as reported by Reuters in December.<o:p></o:p>

WATCH WION LIVE HERE

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ByteDance, the parent company of popular social media platform TikTok on Tuesday, announced that it was engaging in discussions with potential buyers for its gaming assets, marking a move away from the gaming industry.

ByteDance, the parent company of popular social media platform TikTok on Tuesday, announced that it was engaging in discussions with potential buyers for its gaming assets, marking a move away from the gaming industry. According to Reuters, Tencent, the world's largest video games company might be one of the potential suitors. A ByteDance spokesperson cited by Reuters said that, while talks are ongoing, no conclusive deal has been reached yet. ByteDance's gaming unit, Nuverse, is at the centre of these negotiations. Notable titles such as "Crystal of Atland" and "Earth: Revival" are reportedly part of the discussions between ByteDance and Tencent, as reported by local media outlet LatePost. The move comes as ByteDance continues its efforts to reallocate resources and focus on core business areas, having declared its intention to step back from the gaming sector back in November. In a statement, ByteDance emphasised its commitment to the strategic overhaul of Nuverse, clarifying that it would no longer pursue the gaming market actively. Industry insiders revealed that the company has discontinued with the development of unreleased games and has aimed to divest from titles that have already been launched. This shift follows five years of ByteDance's prominent presence in the global video games market, estimated to be worth $185 billion. The gaming community has been closely watching ByteDance's move to sell Moonton, another gaming unit acquired in 2021, as reported by Reuters in November. ByteDance's decision to divest itself of gaming assets indicates a shift in its corporate strategy, aligning with its renewed focus on key business areas. As of now, potential buyers for Moonton remain undisclosed. Notably, the relationship between ByteDance and Tencent has seen a positive turn after a period of intense competition. The companies are now reportedly in talks for a potential deal, showcasing a shift from rivalry to collaboration. This newfound cooperation is evident in Tencent's utilisation of ByteDance's advertising network to promote its latest game, "DreamStar," as reported by Reuters in December. WATCH WION LIVE HERE

TikTok’s owner ByteDance explores gaming asset sale with Tencent and others

In a move aimed at revitalising a struggling stock market, China's securities regulator, the China Securities Regulatory Commission (CSRC), has lifted the ban on mutual fund managers selling more shares than they buy each day. <o:p></o:p>

According to a Reuters report, the restriction, imposed late last year, prohibited major mutual fund companies from engaging in net-selling, aligning with top leadership calls to stabilise the market. <o:p></o:p>

While the CSRC has not officially commented on the policy shift, sources in correspondence with Reuters suggest that growing redemption pressures on funds may have influenced the decision. <o:p></o:p>

"If you cannot net sell stocks, you don't have the money to repay redeeming investors," Reuters quoted one source as saying.<o:p></o:p>

The change in policy signals a departure from the earlier approach that prohibited net-selling of stocks, introducing a more flexible stance to address the challenges facing the stock market. <o:p></o:p>

The sources further told Reuters that unofficial, verbal guidance from regulators, commonly known as "window guidance," has diminished in recent days. <o:p></o:p>

This adjustment comes against the backdrop of China's CSI300 Index experiencing an 11 per cent decline in the previous year, positioning it among the world's worst-performing markets. <o:p></o:p>

The market faced headwinds from a sluggish post-COVID economic recovery, a deepening property crisis, and escalating geopolitical tensions.<o:p></o:p>

Despite various government support measures implemented in 2023, including a reduction in stamp duty on trading and restrictions on share sales, China's blue-chip index, CSI300, remained disappointing. <o:p></o:p>

In the latest market-supportive measure, the CSRC informally encouraged major mutual fund managers to prioritise the launch of equity-based funds over funds based on other securities. <o:p></o:p>

The move aims to inject vitality into the market and boost investor confidence. However, the market response has been tepid, with the CSI300 index hitting its lowest level in nearly five years on Monday.<o:p></o:p>

Traders attribute this decline to a lack of confidence in the domestic economy's strength and increasing tensions with the US and its allies.<o:p></o:p>

WATCH WION LIVE HERE

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In a move aimed at revitalising a struggling stock market, China's securities regulator, the China Securities Regulatory Commission (CSRC), has lifted the ban on mutual fund managers selling more shares than they buy each day.

In a move aimed at revitalising a struggling stock market, China's securities regulator, the China Securities Regulatory Commission (CSRC), has lifted the ban on mutual fund managers selling more shares than they buy each day. According to a Reuters report, the restriction, imposed late last year, prohibited major mutual fund companies from engaging in net-selling, aligning with top leadership calls to stabilise the market. While the CSRC has not officially commented on the policy shift, sources in correspondence with Reuters suggest that growing redemption pressures on funds may have influenced the decision. "If you cannot net sell stocks, you don't have the money to repay redeeming investors," Reuters quoted one source as saying. The change in policy signals a departure from the earlier approach that prohibited net-selling of stocks, introducing a more flexible stance to address the challenges facing the stock market. The sources further told Reuters that unofficial, verbal guidance from regulators, commonly known as "window guidance," has diminished in recent days. This adjustment comes against the backdrop of China's CSI300 Index experiencing an 11 per cent decline in the previous year, positioning it among the world's worst-performing markets. The market faced headwinds from a sluggish post-COVID economic recovery, a deepening property crisis, and escalating geopolitical tensions. Despite various government support measures implemented in 2023, including a reduction in stamp duty on trading and restrictions on share sales, China's blue-chip index, CSI300, remained disappointing. In the latest market-supportive measure, the CSRC informally encouraged major mutual fund managers to prioritise the launch of equity-based funds over funds based on other securities. The move aims to inject vitality into the market and boost investor confidence. However, the market response has been tepid, with the CSI300 index hitting its lowest level in nearly five years on Monday. Traders attribute this decline to a lack of confidence in the domestic economy's strength and increasing tensions with the US and its allies. WATCH WION LIVE HERE

China eases stock net-selling restrictions for mutual funds amid market challenges

India is bracing for a potential $30 billion blow to its exports in the current fiscal year as escalating threats to cargo vessels in the Red Sea lead to a surge in container shipping rates, prompting exporters to hold back shipments. <o:p></o:p>

A Bloomberg report cited figures from a New Delhi-based think tank,&nbsp;the Research and Information System for Developing Countries, that indicates&nbsp;a 6.7 per cent drop in Indian exports based on last fiscal year's $451 billion total. <o:p></o:p>

Sachin Chaturvedi, the director-general of the think tank, stated, "The crisis in the Red Sea would indeed impact India’s trade and may lead to further contraction." <o:p></o:p>

The Suez Canal's ship traffic has decreased by about 44 per cent, raising concerns about the disruption's impact on India's major shipping routes to Europe, the US East Coast, the Middle East, and African countries.<o:p></o:p>

India's reliance on the Red Sea for shipping to key destinations makes it particularly vulnerable to disruptions caused by the threats in the region. <o:p></o:p>

The Indian government, led by Prime Minister Narendra Modi, is actively engaging with export promotion councils to explore strategies to safeguard trade transiting through the Red Sea. <o:p></o:p>

Attacks by Yemen's Iran-backed Houthi militants, targeting vessels in the Red Sea with missiles, have added complexity to the situation. <o:p></o:p>

The government has not released official estimates on the impact of the Red Sea crisis on Indian exports, but it has taken proactive measures, such as deploying a warship to the Arabian Sea to address potential threats.<o:p></o:p>

The disruptions in the Red Sea have triggered a domino effect, leading to a significant increase in container shipping rates. <o:p></o:p>

Freightos.com, a cargo booking and payment platform, reports a 173 per cent surge in the spot rate for shipping goods in a 40-foot container from Asia to northern Europe, reaching over $4,000. <o:p></o:p>

Similar increases are observed in rates from Asia to North America's East Coast, rising 55 per cent to $3,900 for a 40-foot container. <o:p></o:p>

Exporters and buyers are reportedly renegotiating contracts to adapt to the soaring freight charges. The Red Sea disruption is particularly concerning for India's oil and auto sectors, potentially impacting margins.<o:p></o:p>

&nbsp;Additionally, economists warn of inflationary pressures as higher global freight and insurance rates, coupled with potential supply chain issues, could contribute to cost-push inflation.<o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

WATCH WION LIVE HERE

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India is bracing for a potential $30 billion blow to its exports in the current fiscal year as escalating threats to cargo vessels in the Red Sea lead to a surge in container shipping rates, prompting exporters to hold back shipments.

India is bracing for a potential $30 billion blow to its exports in the current fiscal year as escalating threats to cargo vessels in the Red Sea lead to a surge in container shipping rates, prompting exporters to hold back shipments. A Bloomberg report cited figures from a New Delhi-based think tank, the Research and Information System for Developing Countries, that indicates a 6.7 per cent drop in Indian exports based on last fiscal year's $451 billion total. Sachin Chaturvedi, the director-general of the think tank, stated, "The crisis in the Red Sea would indeed impact India’s trade and may lead to further contraction." The Suez Canal's ship traffic has decreased by about 44 per cent, raising concerns about the disruption's impact on India's major shipping routes to Europe, the US East Coast, the Middle East, and African countries. India's reliance on the Red Sea for shipping to key destinations makes it particularly vulnerable to disruptions caused by the threats in the region. The Indian government, led by Prime Minister Narendra Modi, is actively engaging with export promotion councils to explore strategies to safeguard trade transiting through the Red Sea. Attacks by Yemen's Iran-backed Houthi militants, targeting vessels in the Red Sea with missiles, have added complexity to the situation. The government has not released official estimates on the impact of the Red Sea crisis on Indian exports, but it has taken proactive measures, such as deploying a warship to the Arabian Sea to address potential threats. The disruptions in the Red Sea have triggered a domino effect, leading to a significant increase in container shipping rates. Freightos.com, a cargo booking and payment platform, reports a 173 per cent surge in the spot rate for shipping goods in a 40-foot container from Asia to northern Europe, reaching over $4,000. Similar increases are observed in rates from Asia to North America's East Coast, rising 55 per cent to $3,900 for a 40-foot container. Exporters and buyers are reportedly renegotiating contracts to adapt to the soaring freight charges. The Red Sea disruption is particularly concerning for India's oil and auto sectors, potentially impacting margins. Additionally, economists warn of inflationary pressures as higher global freight and insurance rates, coupled with potential supply chain issues, could contribute to cost-push inflation. (With inputs from Bloomberg) WATCH WION LIVE HERE

India faces $30 bn export hit as Red Sea threats disrupt shipping routes

Apple has lodged a challenge against the European Union's tech rules, specifically contesting the classification of its five App Stores as a single core platform service under the Digital Markets Act (DMA).<o:p></o:p>

According to a Reuters report, the company argues that EU regulators have misunderstood and misapplied the legislation, which became effective in May 2022. <o:p></o:p>

Apple, in its plea to the General Court, criticised the European Commission, stating that it made "material factual errors" by considering the five App Stores as a single core platform service. <o:p></o:p>

Apple contends that each App Store is designed for a specific operating system and Apple device, encompassing iPhones, iPads, Mac computers, Apple TVs, and Apple Watches.<o:p></o:p>

The DMA, designed to regulate tech giants, imposes certain obligations on companies like Apple, including facilitating third-party interoperability with its services and allowing business users to promote offers and conclude contracts outside its platform. <o:p></o:p>

Apple challenges the characterisation of its operating system, iOS, as a significant gateway for business users to reach end users, questioning the associated interoperability obligations. <o:p></o:p>

The lawsuit, filed in November 2022, highlights the company's resistance to complying with the DMA's requirements, signalling potential legal battles between tech giants and EU regulators.<o:p></o:p>

Apple's legal action extends beyond App Stores and iOS, addressing the European Commission's designation of its messaging service, iMessage, as a number-independent interpersonal communications service (NIICS). <o:p></o:p>

This designation prompted an EU investigation into whether iMessage should comply with DMA rules.<o:p></o:p>

Apple contests this characterisation, arguing that iMessage does not fall under the category of NIICS as it is not a fee-based service and does not monetise it through the sale of hardware devices or the processing of personal data.<o:p></o:p>

WATCH WION LIVE HERE

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Apple has lodged a challenge against the European Union's tech rules, specifically contesting the classification of its five App Stores as a single core platform service under the Digital Markets Act (DMA).

Apple has lodged a challenge against the European Union's tech rules, specifically contesting the classification of its five App Stores as a single core platform service under the Digital Markets Act (DMA). According to a Reuters report, the company argues that EU regulators have misunderstood and misapplied the legislation, which became effective in May 2022. Apple, in its plea to the General Court, criticised the European Commission, stating that it made "material factual errors" by considering the five App Stores as a single core platform service. Apple contends that each App Store is designed for a specific operating system and Apple device, encompassing iPhones, iPads, Mac computers, Apple TVs, and Apple Watches. The DMA, designed to regulate tech giants, imposes certain obligations on companies like Apple, including facilitating third-party interoperability with its services and allowing business users to promote offers and conclude contracts outside its platform. Apple challenges the characterisation of its operating system, iOS, as a significant gateway for business users to reach end users, questioning the associated interoperability obligations. The lawsuit, filed in November 2022, highlights the company's resistance to complying with the DMA's requirements, signalling potential legal battles between tech giants and EU regulators. Apple's legal action extends beyond App Stores and iOS, addressing the European Commission's designation of its messaging service, iMessage, as a number-independent interpersonal communications service (NIICS). This designation prompted an EU investigation into whether iMessage should comply with DMA rules. Apple contests this characterisation, arguing that iMessage does not fall under the category of NIICS as it is not a fee-based service and does not monetise it through the sale of hardware devices or the processing of personal data. WATCH WION LIVE HERE

Apple challenges EU rules on App stores and iOS designation as one service

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