In the wake of safety concerns leading to the suspension of its Japanese plants, Toyota Motor's subsidiary, Daihatsu Motor, has announced plans to compensate 423 domestic suppliers directly affected by the production halt. <o:p></o:p>

According to Reuters, the suspension, set to continue until the end of next month, comes in response to safety concerns identified in 64 models, nearly two dozen of which are sold under Toyota's brand. A Daihatsu spokesperson revealed that the compensation strategy would be based on past business volumes, aiming to address the financial impact on the extensive supplier network.<o:p></o:p>

Daihatsu's decision to cease shipments of all its vehicles follows a safety investigation that uncovered issues in various models. While the company is grappling with the suspension, it remains committed to mitigating the consequences for its supplier network. <o:p></o:p>

The spokesperson emphasised that Daihatsu is collaborating closely with its main suppliers to manage the aftermath of the safety scandal. Moreover, the company is exploring ways to assist smaller subcontractors, not covered by compensation, in accessing support funds provided by the industry ministry.<o:p></o:p>

Daihatsu's overseas operations, primarily concentrated in Southeast Asia, have been notably affected by the production halt. Despite the challenges, the company has resumed the production of Perodua brand cars in collaboration with Malaysian automaker Perodua.<o:p></o:p>

Regulatory clearance was obtained for the joint venture, allowing Daihatsu to recommence operations at two plants. The spokesperson highlighted that the company's subsidiary in Indonesia, PT Astra Daihatsu Motor, has also resumed shipments as of Friday, signalling a gradual recovery in certain overseas markets.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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In the wake of safety concerns leading to the suspension of its Japanese plants, Toyota Motor's subsidiary, Daihatsu Motor, has announced plans to compensate 423 domestic suppliers directly affected by the production halt.

In the wake of safety concerns leading to the suspension of its Japanese plants, Toyota Motor's subsidiary, Daihatsu Motor, has announced plans to compensate 423 domestic suppliers directly affected by the production halt. According to Reuters, the suspension, set to continue until the end of next month, comes in response to safety concerns identified in 64 models, nearly two dozen of which are sold under Toyota's brand. A Daihatsu spokesperson revealed that the compensation strategy would be based on past business volumes, aiming to address the financial impact on the extensive supplier network. Daihatsu's decision to cease shipments of all its vehicles follows a safety investigation that uncovered issues in various models. While the company is grappling with the suspension, it remains committed to mitigating the consequences for its supplier network. The spokesperson emphasised that Daihatsu is collaborating closely with its main suppliers to manage the aftermath of the safety scandal. Moreover, the company is exploring ways to assist smaller subcontractors, not covered by compensation, in accessing support funds provided by the industry ministry. Daihatsu's overseas operations, primarily concentrated in Southeast Asia, have been notably affected by the production halt. Despite the challenges, the company has resumed the production of Perodua brand cars in collaboration with Malaysian automaker Perodua. Regulatory clearance was obtained for the joint venture, allowing Daihatsu to recommence operations at two plants. The spokesperson highlighted that the company's subsidiary in Indonesia, PT Astra Daihatsu Motor, has also resumed shipments as of Friday, signalling a gradual recovery in certain overseas markets. (With inputs from Reuters) WATCH WION LIVE HERE

Daihatsu announces compensation plans amid production halt due to safety concerns

Microsoft’s decision to cease support for the Windows 10 operating system could result in the disposal of approximately 240 million personal computers (PCs), potentially contributing to a significant increase in landfill waste, according to a report by Canalys Research. <o:p></o:p>

The electronic waste generated from these PCs is estimated to weigh around 480 million kilograms, equivalent to the weight of 320,000 cars.<o:p></o:p>

While many PCs could remain functional for years beyond the end of OS support, Canalys Research has raised concerns about the potential low demand for devices lacking security updates. Microsoft plans to offer security updates for Windows 10 devices until October 2028, with an undisclosed annual cost. <o:p></o:p>

However, if the pricing structure follows past trends, transitioning to newer PCs may become more cost-effective, leading to a higher number of older PCs being discarded.<o:p></o:p>

Microsoft aims to discontinue support for Windows 10 by October 2025, prompting a potential surge in electronic waste. <o:p></o:p>

The upcoming generation, Windows 11, expected to introduce advanced artificial intelligence technology to PCs, could potentially revitalise the stagnant PC market. Despite inquiries, Microsoft has not responded to requests for comments on the environmental impact of disposing of Windows 11-incompatible devices.<o:p></o:p>

Canalys Research emphasises the importance of recycling hard drives from personal computers and data storage servers. These recycled hard drives can provide materials for electric vehicle motors and renewable power generation. <o:p></o:p>

Noveon Magnetics Chief Commercial Officer Peter Afiuny highlighted the positive impact of repurposing end-of-life computers, turning them into magnets that power sustainable technologies like electric vehicles and wind turbines.<o:p></o:p>

Afiuny noted that hard drives are often discarded prematurely, contributing to an excess of rare earth magnetic material waste. In contrast, battery recycling firm Redwood Materials emphasised the near-infinite recyclability of batteries, recovering essential metals like lithium, cobalt, nickel, and copper. This recycling process helps address environmental concerns by reducing the environmental impact of discarded batteries.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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Microsoft’s decision to cease support for the Windows 10 operating system could result in the disposal of approximately 240 million personal computers (PCs), potentially contributing to a significant increase in landfill waste, according to a report by Canalys Research.

Microsoft’s decision to cease support for the Windows 10 operating system could result in the disposal of approximately 240 million personal computers (PCs), potentially contributing to a significant increase in landfill waste, according to a report by Canalys Research. The electronic waste generated from these PCs is estimated to weigh around 480 million kilograms, equivalent to the weight of 320,000 cars. While many PCs could remain functional for years beyond the end of OS support, Canalys Research has raised concerns about the potential low demand for devices lacking security updates. Microsoft plans to offer security updates for Windows 10 devices until October 2028, with an undisclosed annual cost. However, if the pricing structure follows past trends, transitioning to newer PCs may become more cost-effective, leading to a higher number of older PCs being discarded. Microsoft aims to discontinue support for Windows 10 by October 2025, prompting a potential surge in electronic waste. The upcoming generation, Windows 11, expected to introduce advanced artificial intelligence technology to PCs, could potentially revitalise the stagnant PC market. Despite inquiries, Microsoft has not responded to requests for comments on the environmental impact of disposing of Windows 11-incompatible devices. Canalys Research emphasises the importance of recycling hard drives from personal computers and data storage servers. These recycled hard drives can provide materials for electric vehicle motors and renewable power generation. Noveon Magnetics Chief Commercial Officer Peter Afiuny highlighted the positive impact of repurposing end-of-life computers, turning them into magnets that power sustainable technologies like electric vehicles and wind turbines. Afiuny noted that hard drives are often discarded prematurely, contributing to an excess of rare earth magnetic material waste. In contrast, battery recycling firm Redwood Materials emphasised the near-infinite recyclability of batteries, recovering essential metals like lithium, cobalt, nickel, and copper. This recycling process helps address environmental concerns by reducing the environmental impact of discarded batteries. (With inputs from Reuters)

Microsoft's Windows 10 end-of-support plan may lead to massive PC disposal

Sportswear giant Nike has revised its annual sales forecast downward, citing cautious consumer spending, weaker online business, and increased promotional activities. <o:p></o:p>

According to Reuters, the company plans to implement a $2 billion savings initiative over the next three years, involving measures like supply chain adjustments, management layer reductions, and enhanced automation. <o:p></o:p>

These moves come as Nike faces persistent pressure in its wholesale business due to reduced retailer orders amid fluctuating demand, with online sales impacted and promotions heightened. The announcement led to an 11 per cent drop in Nike's shares.<o:p></o:p>

Nike's finance chief, Matthew Friend, highlighted the challenges, stating, "We are seeing indications of more cautious consumer behaviour around the world." <o:p></o:p>

The company now projects a 1 per cent increase in full fiscal-year revenue, down from its earlier forecast of mid-single-digit percentage growth. Analysts, expecting a 3.8 per cent increase, expressed concerns over the global economic landscape affecting Nike's performance.<o:p></o:p>

The savings plan includes supply chain adjustments, with Nike seeking to cut the supply of certain products. Analyst David Swartz noted, "Nike's talking about reducing the number of products ... perhaps the company feels there are too many products that are not high-margin and not really generating significant sales." <o:p></o:p>

However, Nike emphasized its commitment to innovation, launching new styles like the Sabrina 1, LeBron 21, and Tatum 1 basketball shoes to attract consumers in a challenging market.<o:p></o:p>

While Nike did not specify the product franchises facing supply cuts, the company assured that its iconic lines, including Air Force 1, Dunk, and Court, continue to perform well. The fiscal second quarter's total revenue of $13.39 billion fell slightly short of estimates, but per-share earnings of $1.03 surpassed expectations, benefiting from lower freight costs and inventories. <o:p></o:p>

Nike's shares have seen modest gains this year compared to a significant rally in the S&amp;P 500 index and its rival, Adidas.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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Sportswear giant Nike has revised its annual sales forecast downward, citing cautious consumer spending, weaker online business, and increased promotional activities.

Sportswear giant Nike has revised its annual sales forecast downward, citing cautious consumer spending, weaker online business, and increased promotional activities. According to Reuters, the company plans to implement a $2 billion savings initiative over the next three years, involving measures like supply chain adjustments, management layer reductions, and enhanced automation. These moves come as Nike faces persistent pressure in its wholesale business due to reduced retailer orders amid fluctuating demand, with online sales impacted and promotions heightened. The announcement led to an 11 per cent drop in Nike's shares. Nike's finance chief, Matthew Friend, highlighted the challenges, stating, "We are seeing indications of more cautious consumer behaviour around the world." The company now projects a 1 per cent increase in full fiscal-year revenue, down from its earlier forecast of mid-single-digit percentage growth. Analysts, expecting a 3.8 per cent increase, expressed concerns over the global economic landscape affecting Nike's performance. The savings plan includes supply chain adjustments, with Nike seeking to cut the supply of certain products. Analyst David Swartz noted, "Nike's talking about reducing the number of products ... perhaps the company feels there are too many products that are not high-margin and not really generating significant sales." However, Nike emphasized its commitment to innovation, launching new styles like the Sabrina 1, LeBron 21, and Tatum 1 basketball shoes to attract consumers in a challenging market. While Nike did not specify the product franchises facing supply cuts, the company assured that its iconic lines, including Air Force 1, Dunk, and Court, continue to perform well. The fiscal second quarter's total revenue of $13.39 billion fell slightly short of estimates, but per-share earnings of $1.03 surpassed expectations, benefiting from lower freight costs and inventories. Nike's shares have seen modest gains this year compared to a significant rally in the S&P 500 index and its rival, Adidas. (With inputs from Reuters) WATCH WION LIVE HERE

Nike cuts sales outlook and unveils $2 bn savings plan amid global economic uncertainty

Walmart, the largest shareholder in Indian e-commerce powerhouse Flipkart, is gearing up to invest around $600 million in the latest fundraise for the start-up, according to a Flipkart spokesperson. <o:p></o:p>

The move comes as part of Flipkart's ongoing discussions to secure a total of $1 billion in fresh funds, with new investors also in talks to join the funding round. The Economic Times, citing insiders, reported that the injection is expected to value Flipkart at a premium of approximately 5 per cent to 10 per cent above its current $33 billion valuation.<o:p></o:p>

While the current funding falls short of the near-$38 billion valuation reached in 2021, it underscores Walmart's commitment to accelerating its growth in India. <o:p></o:p>

In 2018, Walmart made a significant investment by acquiring a 77 per cent stake in Flipkart for about $16 billion, marking its most substantial investment at the time. In early 2020, Walmart further increased its control by purchasing the remaining stakes from hedge fund Tiger Global and venture capital firm Accel for $1.4 billion.<o:p></o:p>

Flipkart, a leading online marketplace in India, has strategically focused on catering to small towns and cities, setting itself apart from its urban-centric rival Amazon. The infusion of funds comes as Flipkart aims to solidify its position in the competitive Indian e-commerce landscape. <o:p></o:p>

Although the current valuation is expected to be a premium to the existing $33 billion, it falls short of the high of nearly $38 billion reached in the previous year.<o:p></o:p>

Walmart's consistent financial backing has contributed to Flipkart's growth in the Indian market. In 2022, Walmart's $600 million investment is anticipated to be a key factor as Flipkart adjusts its plans to go public, delaying the initial public offering (IPO) until 2023. Additionally, sources with direct knowledge of the plan reveal that Flipkart has internally raised its IPO valuation target to a range of $60-$70 billion.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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Walmart, the largest shareholder in Indian e-commerce powerhouse Flipkart, is gearing up to invest around $600 million in the latest fundraise for the start-up, according to a Flipkart spokesperson.

Walmart, the largest shareholder in Indian e-commerce powerhouse Flipkart, is gearing up to invest around $600 million in the latest fundraise for the start-up, according to a Flipkart spokesperson. The move comes as part of Flipkart's ongoing discussions to secure a total of $1 billion in fresh funds, with new investors also in talks to join the funding round. The Economic Times, citing insiders, reported that the injection is expected to value Flipkart at a premium of approximately 5 per cent to 10 per cent above its current $33 billion valuation. While the current funding falls short of the near-$38 billion valuation reached in 2021, it underscores Walmart's commitment to accelerating its growth in India. In 2018, Walmart made a significant investment by acquiring a 77 per cent stake in Flipkart for about $16 billion, marking its most substantial investment at the time. In early 2020, Walmart further increased its control by purchasing the remaining stakes from hedge fund Tiger Global and venture capital firm Accel for $1.4 billion. Flipkart, a leading online marketplace in India, has strategically focused on catering to small towns and cities, setting itself apart from its urban-centric rival Amazon. The infusion of funds comes as Flipkart aims to solidify its position in the competitive Indian e-commerce landscape. Although the current valuation is expected to be a premium to the existing $33 billion, it falls short of the high of nearly $38 billion reached in the previous year. Walmart's consistent financial backing has contributed to Flipkart's growth in the Indian market. In 2022, Walmart's $600 million investment is anticipated to be a key factor as Flipkart adjusts its plans to go public, delaying the initial public offering (IPO) until 2023. Additionally, sources with direct knowledge of the plan reveal that Flipkart has internally raised its IPO valuation target to a range of $60-$70 billion. (With inputs from Reuters) WATCH WION LIVE HERE

Walmart boosts Indian e-commerce giant Flipkart with $600 mn infusion in latest funding round

South Korea and Japan engaged in high-level economic talks on Thursday, marking the resumption of discussions that had been stalled for eight years, Reuters reported.<o:p></o:p>

The talks, initiated in 1999, faced a hiatus since 2016 due to strained relations stemming from historical disputes related to Japan's occupation of Korea from 1910 to 1945. South Korean President Yoon Suk Yeol, prioritising diplomatic mending, has taken significant steps to improve ties with Tokyo since assuming office in 2022.<o:p></o:p>

Kang Jae-kwon, South Korea's deputy foreign minister for economic affairs, met with his Japanese counterpart Keiichi Ono, senior deputy foreign minister, to assess bilateral economic cooperation and discuss economic security policy. Kang expressed optimism, stating, "I hope that today's meeting will be a constructive time to contribute to restoring and deepening economic relations between the two countries."<o:p></o:p>

The thaw in relations reflects a broader trend of increasing cooperation driven by shared geopolitical concerns. Earlier this year, South Korea announced plans for its companies to compensate individuals who were forced to work under Japan's occupation from 1910 to 1945, signalling efforts to resolve historical disputes. This move aimed to strengthen unity among US-led efforts against common challenges posed by China and North Korea.<o:p></o:p>

In a demonstration of enhanced trilateral collaboration, Japan, South Korea, and the United States recently launched a real-time missile data-sharing system to monitor Pyongyang's nuclear and missile programs. <o:p></o:p>

Furthermore, Japan reinstated South Korea to its "white list" for exports, granting fast-track trade status, and lifted export curbs on high-tech materials in March. However, despite these positive steps, lingering friction remains in the ties between Japan and South Korea.<o:p></o:p>

Ongoing challenges include South Korea's decade-long ban on seafood from the vicinity of the Fukushima nuclear power plant and a recent South Korean court ruling in favour of "comfort women" – women forced to work in Japanese wartime brothels. <o:p></o:p>

Notably, South Korea's Supreme Court on Thursday upheld rulings ordering two Japanese companies to compensate South Koreans who were forced to work under Japan's colonial rule, prompting a swift protest from Tokyo.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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South Korea and Japan engaged in high-level economic talks on Thursday, marking the resumption of discussions that had been stalled for eight years, Reuters reported.

South Korea and Japan engaged in high-level economic talks on Thursday, marking the resumption of discussions that had been stalled for eight years, Reuters reported. The talks, initiated in 1999, faced a hiatus since 2016 due to strained relations stemming from historical disputes related to Japan's occupation of Korea from 1910 to 1945. South Korean President Yoon Suk Yeol, prioritising diplomatic mending, has taken significant steps to improve ties with Tokyo since assuming office in 2022. Kang Jae-kwon, South Korea's deputy foreign minister for economic affairs, met with his Japanese counterpart Keiichi Ono, senior deputy foreign minister, to assess bilateral economic cooperation and discuss economic security policy. Kang expressed optimism, stating, "I hope that today's meeting will be a constructive time to contribute to restoring and deepening economic relations between the two countries." The thaw in relations reflects a broader trend of increasing cooperation driven by shared geopolitical concerns. Earlier this year, South Korea announced plans for its companies to compensate individuals who were forced to work under Japan's occupation from 1910 to 1945, signalling efforts to resolve historical disputes. This move aimed to strengthen unity among US-led efforts against common challenges posed by China and North Korea. In a demonstration of enhanced trilateral collaboration, Japan, South Korea, and the United States recently launched a real-time missile data-sharing system to monitor Pyongyang's nuclear and missile programs. Furthermore, Japan reinstated South Korea to its "white list" for exports, granting fast-track trade status, and lifted export curbs on high-tech materials in March. However, despite these positive steps, lingering friction remains in the ties between Japan and South Korea. Ongoing challenges include South Korea's decade-long ban on seafood from the vicinity of the Fukushima nuclear power plant and a recent South Korean court ruling in favour of "comfort women" – women forced to work in Japanese wartime brothels. Notably, South Korea's Supreme Court on Thursday upheld rulings ordering two Japanese companies to compensate South Koreans who were forced to work under Japan's colonial rule, prompting a swift protest from Tokyo. (With inputs from Reuters) WATCH WION LIVE HERE

Diplomatic Thaw: South Korea and Japan renew economic talks after eight-year hiatus

In a move to safeguard its dominance in the rare earths sector, China, the world's leading processor of these critical materials, has officially prohibited the export of technology crucial for extracting and separating rare earths. <o:p></o:p>

According to Reuters, the ban, announced on Thursday, is anticipated to have an impact on "heavy rare earths," vital for electric vehicle (EV) motors, medical devices, and weaponry, where China currently holds a virtual monopoly. Rare earths, a group of 17 metals, are indispensable for manufacturing magnets used in EVs, wind turbines, and electronics.<o:p></o:p>

China's commerce ministry-initiated discussions in December last year, seeking public input on the potential addition of this technology to its "Catalogue of Technologies Prohibited and Restricted from Export." <o:p></o:p>

The move aligns with the country's broader efforts to tighten regulations on the export of critical minerals, citing national security and public interest as primary objectives. <o:p></o:p>

Reuters cited Nathan Picarsic, the co-founder of the geopolitical consulting firm Horizon Advisory, who highlighted the significance of this development, stating, "This should be a clarion call that dependence on China in any part of the value chain is not sustainable." <o:p></o:p>

The ban underscores China's commitment to maintaining its market dominance, sparking concerns and intensifying the global race to secure alternative rare earth processing capabilities.<o:p></o:p>

As China asserts control over its rare earth technology, the West faces challenges in reducing dependence on Chinese rare earths, constituting nearly 90 per cent of global refined output. Western countries, including the US and Europe, are striving to establish their rare earth processing operations. <o:p></o:p>

The struggle is particularly pronounced in heavy rare earths, where China excels and has recently banned the export of production technology for rare earth metals, alloy materials, and certain rare earth magnets.<o:p></o:p>

Shares of MP Materials, a Western rare earth company, surged more than 10 per cent following China's announcement. MP Materials has been gradually increasing rare earth processing in California. Ucore Rare Metals, another player in the sector, reported the completion of commissioning a facility for testing its rare earths processing technology, partly funded by the US Department of Defence.<o:p></o:p>

Experts suggest that the ban's impact may impede the development of heavy rare earth separation capacity outside China. While the West is making strides in processing "light" rare earths, including neodymium and praseodymium, the challenge remains in reducing reliance on China for critical elements like dysprosium.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

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In a move to safeguard its dominance in the rare earths sector, China, the world's leading processor of these critical materials, has officially prohibited the export of technology crucial for extracting and separating rare earths.

In a move to safeguard its dominance in the rare earths sector, China, the world's leading processor of these critical materials, has officially prohibited the export of technology crucial for extracting and separating rare earths. According to Reuters, the ban, announced on Thursday, is anticipated to have an impact on "heavy rare earths," vital for electric vehicle (EV) motors, medical devices, and weaponry, where China currently holds a virtual monopoly. Rare earths, a group of 17 metals, are indispensable for manufacturing magnets used in EVs, wind turbines, and electronics. China's commerce ministry-initiated discussions in December last year, seeking public input on the potential addition of this technology to its "Catalogue of Technologies Prohibited and Restricted from Export." The move aligns with the country's broader efforts to tighten regulations on the export of critical minerals, citing national security and public interest as primary objectives. Reuters cited Nathan Picarsic, the co-founder of the geopolitical consulting firm Horizon Advisory, who highlighted the significance of this development, stating, "This should be a clarion call that dependence on China in any part of the value chain is not sustainable." The ban underscores China's commitment to maintaining its market dominance, sparking concerns and intensifying the global race to secure alternative rare earth processing capabilities. As China asserts control over its rare earth technology, the West faces challenges in reducing dependence on Chinese rare earths, constituting nearly 90 per cent of global refined output. Western countries, including the US and Europe, are striving to establish their rare earth processing operations. The struggle is particularly pronounced in heavy rare earths, where China excels and has recently banned the export of production technology for rare earth metals, alloy materials, and certain rare earth magnets. Shares of MP Materials, a Western rare earth company, surged more than 10 per cent following China's announcement. MP Materials has been gradually increasing rare earth processing in California. Ucore Rare Metals, another player in the sector, reported the completion of commissioning a facility for testing its rare earths processing technology, partly funded by the US Department of Defence. Experts suggest that the ban's impact may impede the development of heavy rare earth separation capacity outside China. While the West is making strides in processing "light" rare earths, including neodymium and praseodymium, the challenge remains in reducing reliance on China for critical elements like dysprosium. (With inputs from Reuters) WATCH WION LIVE HERE

China tightens grip on rare earths industry, bans key technology exports for national security

Robert Solow, the distinguished economics professor at the Massachusetts Institute of Technology (MIT) renowned for his groundbreaking work linking technology to economic growth, has died at the age of 99. <o:p></o:p>

Solow's contributions earned him the 1987 Nobel Prize in economics, awarded by the Royal Swedish Academy of Sciences. The academy praised Solow for his development of a mathematical model that expanded the understanding of production, laying the foundation for modern macroeconomic theory. Solow's son confirmed his passing at his Lexington residence on Thursday, as reported by the New York Times.<o:p></o:p>

In a series of articles from 1956 to 1960, Solow challenged prevailing growth models, asserting that they were inadequate in their narrow focus on capital and labour. He highlighted the pivotal role of technological progress in economic growth, emphasising its contribution to at least half of the economic expansion. Despite acknowledging the challenge of quantifying technological innovation, Solow's work spurred advancements in economic thought.<o:p></o:p>

Solow's advocacy for an active government role in managing the economy, akin to his colleague Paul Samuelson, earned him a senior economist position in President John F. Kennedy's Council of Economic Advisers. Solow's analysis influenced industrialised countries to allocate more resources to education and scientific research. He won the Nobel Prize during Ronald Reagan's administration, criticising Reaganomics for its aversion to tax hikes.<o:p></o:p>

"The best thing you can say about Reaganomics is that it probably happened in a fit of inattention," Solow remarked during the award press conference. <o:p></o:p>

Solow's enduring impact is evident in his 2017 contribution to the book "After Piketty: The Agenda for Economics and Inequality," where he endorsed Thomas Piketty's call for an annual progressive tax on wealth, deeming the wealth gap an "ominous anti-democratic trend."<o:p></o:p>

Born in Brooklyn in 1924, Solow earned scholarships to Harvard University, where he delved into economics after serving in World War II. His academic journey included an undergraduate degree in 1947, a master's in 1949, and a Ph.D. in 1951, all from Harvard.<o:p></o:p>

Joining MIT's faculty in 1950, Solow initially intended to focus on statistics and econometrics, but his proximity to Paul Samuelson sparked a four-decade-long engagement in "straight" economics. Solow retired from MIT in 1995.<o:p></o:p>

Noteworthy among Solow's many students was Mario Draghi, who would later lead the European Central Bank and serve as Italy's prime minister. The John Bates Clark Medal in 1961 recognised Solow's significant contributions, and from 1975 to 1980, he served on the board of the Federal Reserve Bank of Boston. <o:p></o:p>

Solow's impact extended to the Manpower Demonstration Research Corp., where he served as a founding director and chairman, testing policies aimed at helping the poor.<o:p></o:p>

Robert Solow is survived by three children, John, Andrew, and Katherine, from his marriage to Barbara Lewis, an economic historian who passed away in 2014.

<o:p>(Inputs from Bloomberg)</o:p>

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Robert Solow, the distinguished economics professor at the Massachusetts Institute of Technology (MIT) renowned for his groundbreaking work linking technology to economic growth, has died at the age of 99.

Robert Solow, the distinguished economics professor at the Massachusetts Institute of Technology (MIT) renowned for his groundbreaking work linking technology to economic growth, has died at the age of 99. Solow's contributions earned him the 1987 Nobel Prize in economics, awarded by the Royal Swedish Academy of Sciences. The academy praised Solow for his development of a mathematical model that expanded the understanding of production, laying the foundation for modern macroeconomic theory. Solow's son confirmed his passing at his Lexington residence on Thursday, as reported by the New York Times. In a series of articles from 1956 to 1960, Solow challenged prevailing growth models, asserting that they were inadequate in their narrow focus on capital and labour. He highlighted the pivotal role of technological progress in economic growth, emphasising its contribution to at least half of the economic expansion. Despite acknowledging the challenge of quantifying technological innovation, Solow's work spurred advancements in economic thought. Solow's advocacy for an active government role in managing the economy, akin to his colleague Paul Samuelson, earned him a senior economist position in President John F. Kennedy's Council of Economic Advisers. Solow's analysis influenced industrialised countries to allocate more resources to education and scientific research. He won the Nobel Prize during Ronald Reagan's administration, criticising Reaganomics for its aversion to tax hikes. "The best thing you can say about Reaganomics is that it probably happened in a fit of inattention," Solow remarked during the award press conference. Solow's enduring impact is evident in his 2017 contribution to the book "After Piketty: The Agenda for Economics and Inequality," where he endorsed Thomas Piketty's call for an annual progressive tax on wealth, deeming the wealth gap an "ominous anti-democratic trend." Born in Brooklyn in 1924, Solow earned scholarships to Harvard University, where he delved into economics after serving in World War II. His academic journey included an undergraduate degree in 1947, a master's in 1949, and a Ph.D. in 1951, all from Harvard. Joining MIT's faculty in 1950, Solow initially intended to focus on statistics and econometrics, but his proximity to Paul Samuelson sparked a four-decade-long engagement in "straight" economics. Solow retired from MIT in 1995. Noteworthy among Solow's many students was Mario Draghi, who would later lead the European Central Bank and serve as Italy's prime minister. The John Bates Clark Medal in 1961 recognised Solow's significant contributions, and from 1975 to 1980, he served on the board of the Federal Reserve Bank of Boston. Solow's impact extended to the Manpower Demonstration Research Corp., where he served as a founding director and chairman, testing policies aimed at helping the poor. Robert Solow is survived by three children, John, Andrew, and Katherine, from his marriage to Barbara Lewis, an economic historian who passed away in 2014. (Inputs from Bloomberg) WATCH WION LIVE HERE

Renowned economist Robert Solow, Nobel laureate in tech-driven growth, passes away at 99

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy.<o:p></o:p>

Renowned economist Robert Solow, Nobel laureate in tech-driven growth, passes away at 99<o:p></o:p>

Robert Solow, the distinguished economics professor at the Massachusetts Institute of Technology (MIT) renowned for his groundbreaking work linking technology to economic growth, has died at the age of 99.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/renowned-economist-robert-solow-nobel-laureate-in-tech-driven-growth-passes-away-at-99-672385">Read more here</a><o:p></o:p>

China tightens grip on rare earths industry, bans key technology exports for national security<o:p></o:p>

In a move to safeguard its dominance in the rare earths sector, China, the world's leading processor of these critical materials, has officially prohibited the export of technology crucial for extracting and separating rare earths.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/china-tightens-grip-on-rare-earths-industry-bans-key-technology-exports-for-national-security-672401">Read more here</a><o:p></o:p>

Diplomatic Thaw: South Korea and Japan renew economic talks after eight-year hiatus<o:p></o:p>

South Korea and Japan engaged in high-level economic talks on Thursday, marking the resumption of discussions that had been stalled for eight years.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/diplomatic-thaw-south-korea-and-japan-renew-economic-talks-after-eight-year-hiatus-672408">Read more here</a><o:p></o:p>

Walmart boosts Indian e-commerce giant Flipkart with $600 mn infusion in latest funding round<o:p></o:p>

Walmart, the largest shareholder in Indian e-commerce powerhouse Flipkart, is gearing up to invest around $600 million in the latest fundraise for the start-up, according to a Flipkart spokesperson.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/walmart-boosts-indian-e-commerce-giant-flipkart-with-600-mn-infusion-in-latest-funding-round-672417">Read more here</a><o:p></o:p>

Nike cuts sales outlook and unveils $2 bn savings plan amid global economic uncertainty<o:p></o:p>

Sportswear giant Nike has revised its annual sales forecast downward, citing cautious consumer spending, weaker online business, and increased promotional activities.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/nike-cuts-sales-outlook-and-unveils-2-bn-savings-plan-amid-global-economic-uncertainty-672426">Read more here</a>

Microsoft's Windows 10 end-of-support plan may lead to massive PC disposal<o:p></o:p>

Microsoft’s decision to cease support for the Windows 10 operating system could result in the disposal of approximately 240 million personal computers (PCs), potentially contributing to a significant increase in landfill waste, according to a report by Canalys Research.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/microsofts-windows-10-end-of-support-plan-may-lead-to-massive-pc-disposal-672434">Read more here</a><o:p></o:p>

Honda recalls 4.5 mn vehicles globally over fuel pump concerns<o:p></o:p>

Honda Motor's American unit has initiated a global recall of approximately 4.5 million vehicles due to potential risks associated with fuel pump failure, according to the Japanese automaker.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/honda-recalls-45-mn-vehicles-globally-over-fuel-pump-concerns-672439">Read more here</a><o:p></o:p>

BSNL suffers data breach, hacker posted some data on dark web: Report<o:p></o:p>

India's state-owned telecom operator Bharat Sanchar Nigam Ltd (BSNL) has reportedly suffered a data breach that puts at risk thousands of users.<o:p></o:p>

<a href="https://www.wionews.com/india-news/bsnl-suffers-data-breach-hacker-posted-some-data-on-dark-web-report-672431">Read more here</a><o:p></o:p>

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WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Renowned economist Robert Solow, Nobel laureate in tech-driven growth, passes away at 99 Robert Solow, the distinguished economics professor at the Massachusetts Institute of Technology (MIT) renowned for his groundbreaking work linking technology to economic growth, has died at the age of 99.

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Renowned economist Robert Solow, Nobel laureate in tech-driven growth, passes away at 99 Robert Solow, the distinguished economics professor at the Massachusetts Institute of Technology (MIT) renowned for his groundbreaking work linking technology to economic growth, has died at the age of 99. Read more here China tightens grip on rare earths industry, bans key technology exports for national security In a move to safeguard its dominance in the rare earths sector, China, the world's leading processor of these critical materials, has officially prohibited the export of technology crucial for extracting and separating rare earths. Read more here Diplomatic Thaw: South Korea and Japan renew economic talks after eight-year hiatus South Korea and Japan engaged in high-level economic talks on Thursday, marking the resumption of discussions that had been stalled for eight years. Read more here Walmart boosts Indian e-commerce giant Flipkart with $600 mn infusion in latest funding round Walmart, the largest shareholder in Indian e-commerce powerhouse Flipkart, is gearing up to invest around $600 million in the latest fundraise for the start-up, according to a Flipkart spokesperson. Read more here Nike cuts sales outlook and unveils $2 bn savings plan amid global economic uncertainty Sportswear giant Nike has revised its annual sales forecast downward, citing cautious consumer spending, weaker online business, and increased promotional activities. Read more here Microsoft's Windows 10 end-of-support plan may lead to massive PC disposal Microsoft’s decision to cease support for the Windows 10 operating system could result in the disposal of approximately 240 million personal computers (PCs), potentially contributing to a significant increase in landfill waste, according to a report by Canalys Research. Read more here Honda recalls 4.5 mn vehicles globally over fuel pump concerns Honda Motor's American unit has initiated a global recall of approximately 4.5 million vehicles due to potential risks associated with fuel pump failure, according to the Japanese automaker. Read more here BSNL suffers data breach, hacker posted some data on dark web: Report India's state-owned telecom operator Bharat Sanchar Nigam Ltd (BSNL) has reportedly suffered a data breach that puts at risk thousands of users. Read more here WATCH WION LIVE HERE

WION Business Wrap | China’s rare earth’s industry, Talks between Japan and South Korea & more

While the automobile and allied sectors in India have been going through a rough patch over the last year, Italian supercar maker Lamborghini’s sales have been growing at nearly 16 per cent&nbsp;in India, said Sharad Agarwal, the India Head of Lamborghini.

This growth is against the 18-20 per cent&nbsp;slowdown in the super luxury segment to which the brand belongs.

The super luxury car segment comprises players such as Rolls Royce, Bentley, Ferrari, Aston Martin and top end products from German manufacturers Mercedes, BMW and Audi.

The brand’s latest offering - Huracan EVO RWD was unveiled in Chennai at a time when the Italian carmaker considers the five Southern Indian states its largest market in India, as more than 50 per cent of their sales are from here. “Lamborghini had sold 45 cars in India in 2018, while the number increased to 52 in 2019, thus taking the Lamborghini fleet in India to over 250. While a majority of Indian users are in the age bracket of 25-45, we also have 60-year olds who drive Lamborghinis. There has been an increase in the women users over the last few years and we expect this segment to grow” Sharad told WION.

The Huracan EVO RWD is a Rear-wheel drive(RWD) variant as opposed to the earlier versions that offered 4 wheel drive(4WD). The machine delivers 610hp(449kW) of power at 8,000rpm and 560Nm of torque at 6500rpm. Weighing 1,398kgs the car can get to a top speed of 325Km/h and accelerates from 0-100km/h in 3.3seconds.&nbsp;

The brand claims that RWD takes the driver into the past, by increasing the bond between driver and machine, with less intervention from technology. The RWD system is said to be designed for purists, allows the driver to take full control of the experience and performance under dry, wet or snowy conditions. “As each car is designed for a certain set of users, it has its own capabilities. Certain models of ours use technology to assist the driver to get maximum performance, best lap speeds etc. But the EVO RWD is aimed at pure driving emotions for those who want to enjoy the experience with their own capability and driving skill” Agarwal said.&nbsp;

Given the spurt in the number of makers offering E-vehicles, Lamborghini doesn’t seem to be joining the bandwagon anytime soon, save for the future mobility concept that was displayed in 2017. ”We believe that tech in EV space is not evolved to provide the driving Dynamics and emotions&nbsp;that Lamborghinis are known for. We still see it(Electric sports car) some time away,&nbsp;as the technology is evolving and there remains a challenge whether electric can provide the same performance” Sharad added.

While the brand sees a growth of 16% in India for 2019 and expect to sell more than 50 cars this year, the Indian market only contributes 1% to the brand’s global business. However, the brand also claims to see growing demand from tier 1 and 2 cities such as Coimbatore, Madurai, Salem, Calicut, Cochin, Guwahati, Ludhiana and Chandigarh among others.

Priced at Rs. 3.22cr ex-showroom pan-India, the Huracan EVO RWD is available in 300 color options and takes 6 months and above(depending on customizations) to be delivered to the customer.

While the automobile and allied sectors in India have been going through a rough patch over the last year, Italian supercar maker Lamborghini’s sales have been growing at nearly 16 per cent in India, said Sharad Agarwal, the India Head of Lamborghini.

While the automobile and allied sectors in India have been going through a rough patch over the last year, Italian supercar maker Lamborghini’s sales have been growing at nearly 16 per cent in India, said Sharad Agarwal, the India Head of Lamborghini. This growth is against the 18-20 per cent slowdown in the super luxury segment to which the brand belongs. The super luxury car segment comprises players such as Rolls Royce, Bentley, Ferrari, Aston Martin and top end products from German manufacturers Mercedes, BMW and Audi. The brand’s latest offering - Huracan EVO RWD was unveiled in Chennai at a time when the Italian carmaker considers the five Southern Indian states its largest market in India, as more than 50 per cent of their sales are from here. “Lamborghini had sold 45 cars in India in 2018, while the number increased to 52 in 2019, thus taking the Lamborghini fleet in India to over 250. While a majority of Indian users are in the age bracket of 25-45, we also have 60-year olds who drive Lamborghinis. There has been an increase in the women users over the last few years and we expect this segment to grow” Sharad told WION. The Huracan EVO RWD is a Rear-wheel drive(RWD) variant as opposed to the earlier versions that offered 4 wheel drive(4WD). The machine delivers 610hp(449kW) of power at 8,000rpm and 560Nm of torque at 6500rpm. Weighing 1,398kgs the car can get to a top speed of 325Km/h and accelerates from 0-100km/h in 3.3seconds. The brand claims that RWD takes the driver into the past, by increasing the bond between driver and machine, with less intervention from technology. The RWD system is said to be designed for purists, allows the driver to take full control of the experience and performance under dry, wet or snowy conditions. “As each car is designed for a certain set of users, it has its own capabilities. Certain models of ours use technology to assist the driver to get maximum performance, best lap speeds etc. But the EVO RWD is aimed at pure driving emotions for those who want to enjoy the experience with their own capability and driving skill” Agarwal said. Given the spurt in the number of makers offering E-vehicles, Lamborghini doesn’t seem to be joining the bandwagon anytime soon, save for the future mobility concept that was displayed in 2017. ”We believe that tech in EV space is not evolved to provide the driving Dynamics and emotions that Lamborghinis are known for. We still see it(Electric sports car) some time away, as the technology is evolving and there remains a challenge whether electric can provide the same performance” Sharad added. While the brand sees a growth of 16% in India for 2019 and expect to sell more than 50 cars this year, the Indian market only contributes 1% to the brand’s global business. However, the brand also claims to see growing demand from tier 1 and 2 cities such as Coimbatore, Madurai, Salem, Calicut, Cochin, Guwahati, Ludhiana and Chandigarh among others. Priced at Rs. 3.22cr ex-showroom pan-India, the Huracan EVO RWD is available in 300 color options and takes 6 months and above(depending on customizations) to be delivered to the customer.

Flashback Friday: Looking at Amazon’s evolution from ‘earth’s biggest bookstore’ to an e-commerce giant  

The International Monetary Fund (IMF) has issued a cautionary note, warning that India's general government debt could surpass 100 per cent of the gross domestic product (GDP) in the medium term, the Business Standard reported.&nbsp;

This alert, highlighted in the annual Article IV consultation report, emphasises the need for new financing sources, greater private sector investment, and climate-resilience measures. The IMF points out that substantial investment is required to enhance India's capacity to withstand climate stresses and natural disasters.&nbsp;

Government's Response and Disagreement &nbsp;

In response, the Indian government has asserted that sovereign debt risks are limited as it is primarily denominated in domestic currency. K.V. Subramanian, India's executive director at the IMF, challenged the IMF's claim, stating that despite historical shocks, India's public debt-to-GDP ratio has shown minimal fluctuations. The disagreement centres on the IMF's reclassification of India's exchange rate regime to a "stabilised arrangement".

IMF's Optimistic Outlook and Fiscal Consolidation&nbsp;

Despite the debt concerns, the IMF offers an optimistic outlook for India's economy in its Article IV report, projecting the potential for faster growth if key structural reforms are implemented. The report stresses the necessity for "ambitious" fiscal consolidation to curb public debt. It also outlines potential challenges, including global growth slowdown, commodity price volatility, and domestic weather shocks. The IMF underscored the impact of consumer demand and private investment on growth.&nbsp;

Steps to Tackle Public Debt&nbsp;

In October 2023, Finance Minister Nirmala Sitharaman revealed the government's commitment to exploring measures to reduce government debt. According to a report by Mint, the central government's debt, as of March 2023, stood at Rs 155.6 trillion, constituting 57.1 per cent of GDP. India faces challenges in enhancing credit ratings due to elevated debt levels and the heavy cost associated with servicing that debt. Despite being considered a 'bright spot' in the global economy, India grapples with challenges affecting sovereign investment ratings.&nbsp;

Challenges and the Rating Agencies' Perspective&nbsp;

The Economic Times reported that global rating agencies, including Fitch, S&amp;P, and Moody's, have accorded India the lowest investment-grade rating, citing concerns over weak fiscal performance, burdensome debt stock, and low GDP per capita. The 'K-shaped' growth phenomenon, exacerbated by the Covid-19 pandemic, has contributed to uneven income distribution, impacting India's sovereign rating. Experts contend that the quality of government expenditure improvement could positively influence economic growth.&nbsp;

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The International Monetary Fund (IMF) has issued a cautionary note, warning that India's general government debt could surpass 100 per cent of the gross domestic product (GDP) in the medium term, the Business Standard reported.

The International Monetary Fund (IMF) has issued a cautionary note, warning that India's general government debt could surpass 100 per cent of the gross domestic product (GDP) in the medium term, the Business Standard reported. This alert, highlighted in the annual Article IV consultation report, emphasises the need for new financing sources, greater private sector investment, and climate-resilience measures. The IMF points out that substantial investment is required to enhance India's capacity to withstand climate stresses and natural disasters. Government's Response and Disagreement In response, the Indian government has asserted that sovereign debt risks are limited as it is primarily denominated in domestic currency. K.V. Subramanian, India's executive director at the IMF, challenged the IMF's claim, stating that despite historical shocks, India's public debt-to-GDP ratio has shown minimal fluctuations. The disagreement centres on the IMF's reclassification of India's exchange rate regime to a "stabilised arrangement". IMF's Optimistic Outlook and Fiscal Consolidation Despite the debt concerns, the IMF offers an optimistic outlook for India's economy in its Article IV report, projecting the potential for faster growth if key structural reforms are implemented. The report stresses the necessity for "ambitious" fiscal consolidation to curb public debt. It also outlines potential challenges, including global growth slowdown, commodity price volatility, and domestic weather shocks. The IMF underscored the impact of consumer demand and private investment on growth. Steps to Tackle Public Debt In October 2023, Finance Minister Nirmala Sitharaman revealed the government's commitment to exploring measures to reduce government debt. According to a report by Mint, the central government's debt, as of March 2023, stood at Rs 155.6 trillion, constituting 57.1 per cent of GDP. India faces challenges in enhancing credit ratings due to elevated debt levels and the heavy cost associated with servicing that debt. Despite being considered a 'bright spot' in the global economy, India grapples with challenges affecting sovereign investment ratings. Challenges and the Rating Agencies' Perspective The Economic Times reported that global rating agencies, including Fitch, S&P, and Moody's, have accorded India the lowest investment-grade rating, citing concerns over weak fiscal performance, burdensome debt stock, and low GDP per capita. The 'K-shaped' growth phenomenon, exacerbated by the Covid-19 pandemic, has contributed to uneven income distribution, impacting India's sovereign rating. Experts contend that the quality of government expenditure improvement could positively influence economic growth. WATCH WION LIVE HERE

IMF sounds alarm on India's rising debt, warns of exceeding 100pc of GDP 

The UK Supreme Court has ruled against the notion that artificial intelligence (AI) can be recognised as an inventor for patent rights, Reuters reported on Wednesday. &nbsp;

The case revolved around US computer scientist Stephen Thaler, who sought to register patents in the UK for inventions generated by his AI system named DABUS. Thaler's attempt was rejected by the UK's Intellectual Property Office (IPO), which argued that patent rights should be attributed to a natural person or a company rather than a machine.&nbsp;

The UK Supreme Court, in a unanimous decision, dismissed Thaler's appeal, affirming that, under UK patent law, an inventor must be a natural person. While addressing the specific case at hand, Judge David Kitchin emphasised that the ruling did not address the broader question of whether technical advances produced autonomously by AI should be eligible for patents. &nbsp;

Thaler's legal team expressed concerns, stating that the ruling highlights the inadequacy of current UK patent law in protecting inventions autonomously generated by AI machines, potentially hindering industries reliant on AI-driven technological advancements.&nbsp;

The UK's IPO welcomed the Supreme Court's decision, providing clarity on the existing law regarding the patenting of AI-generated creations. Acknowledging the evolving landscape, the IPO spokesperson recognised the legitimate questions surrounding how the patent system and intellectual property, in general, should handle such AI-generated creations. The government expressed its commitment to keeping this area of law under review.&nbsp;

Earlier this year, Stephen Thaler experienced a similar defeat in the US when the US Supreme Court turned down his appeal against the US Patent and Trademark Office's denial of patents for discoveries produced by his AI system. &nbsp;

While the UK Supreme Court's ruling aligns with decisions from courts in Europe, Australia, and the US, legal experts anticipate potential changes in the medium term as AI evolves from being a tool to an agent.&nbsp;

Despite the current legal stance, Giles Parsons, a partner at law firm Browne Jacobson, noted that the decision is not expected to have a significant impact on the patent system at present. Parsons emphasised that as AI evolves, addressing potential challenges in patent law can be tackled when they arise. &nbsp;

Rajvinder Jagdev, an intellectual property partner at Powell Gilbert, highlighted that the judgment does not preclude individuals from using AI to devise inventions, provided that a natural person is identified as the inventor. In a separate case last month, London's High Court affirmed that artificial neural networks can attract patent protection under UK law.&nbsp;

(With inputs from Reuters)&nbsp;

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The UK Supreme Court has ruled against the notion that artificial intelligence (AI) can be recognised as an inventor for patent rights, Reuters reported on Wednesday.

The UK Supreme Court has ruled against the notion that artificial intelligence (AI) can be recognised as an inventor for patent rights, Reuters reported on Wednesday. The case revolved around US computer scientist Stephen Thaler, who sought to register patents in the UK for inventions generated by his AI system named DABUS. Thaler's attempt was rejected by the UK's Intellectual Property Office (IPO), which argued that patent rights should be attributed to a natural person or a company rather than a machine. The UK Supreme Court, in a unanimous decision, dismissed Thaler's appeal, affirming that, under UK patent law, an inventor must be a natural person. While addressing the specific case at hand, Judge David Kitchin emphasised that the ruling did not address the broader question of whether technical advances produced autonomously by AI should be eligible for patents. Thaler's legal team expressed concerns, stating that the ruling highlights the inadequacy of current UK patent law in protecting inventions autonomously generated by AI machines, potentially hindering industries reliant on AI-driven technological advancements. The UK's IPO welcomed the Supreme Court's decision, providing clarity on the existing law regarding the patenting of AI-generated creations. Acknowledging the evolving landscape, the IPO spokesperson recognised the legitimate questions surrounding how the patent system and intellectual property, in general, should handle such AI-generated creations. The government expressed its commitment to keeping this area of law under review. Earlier this year, Stephen Thaler experienced a similar defeat in the US when the US Supreme Court turned down his appeal against the US Patent and Trademark Office's denial of patents for discoveries produced by his AI system. While the UK Supreme Court's ruling aligns with decisions from courts in Europe, Australia, and the US, legal experts anticipate potential changes in the medium term as AI evolves from being a tool to an agent. Despite the current legal stance, Giles Parsons, a partner at law firm Browne Jacobson, noted that the decision is not expected to have a significant impact on the patent system at present. Parsons emphasised that as AI evolves, addressing potential challenges in patent law can be tackled when they arise. Rajvinder Jagdev, an intellectual property partner at Powell Gilbert, highlighted that the judgment does not preclude individuals from using AI to devise inventions, provided that a natural person is identified as the inventor. In a separate case last month, London's High Court affirmed that artificial neural networks can attract patent protection under UK law. (With inputs from Reuters) WATCH WION LIVE HERE

UK Supreme Court rules against AI as patent 'Inventor' in landmark case 

In a display of public discontent, thousands took to the streets of Buenos Aires to voice their opposition to President Javier Milei's economic shock measures. The demonstrations marked the first major&nbsp;challenge for Argentina's new libertarian leader, who assumed office with a commitment to reduce public spending. &nbsp;

According to Reuters, Milei's recent announcements of a 54 per cent devaluation of the peso, subsidy cuts, and the closure of government ministries have sparked widespread concern and opposition from various social groups. The protests, primarily led by organisations representing the unemployed, unfolded peacefully in the main Plaza de Mayo square, where participants demanded increased financial support for the impoverished.&nbsp;

President Milei's austerity measures, aimed at addressing Argentina's acute economic crisis, have triggered a wave of dissent. The proposed reforms, including the devaluation of the peso, have garnered significant attention and criticism. &nbsp;

Milei's commitment to slashing public spending has set the stage for a potential clash with social groups that vehemently oppose what they refer to as "shock therapy" for the economy. The protesters, amidst a heavy police presence, marched peacefully, emphasising their desire for a peaceful demonstration without confrontations or clashes.&nbsp;

Eduardo Belliboni, leader of the leftist protest group Polo Obrero, emphasised the peaceful nature of the mobilisation. "It is a peaceful mobilisation. We do not want any type of confrontation. We do not want any type of clash," Reuters quoted him as saying. &nbsp;

The protesters, mainly advocating for increased financial support for the impoverished, congregated in Plaza de Mayo square, historically significant as a meeting point in front of the presidential palace. Authorities directed the demonstrators away from roads to ensure the flow of traffic.&nbsp;

President Milei's recently appointed security minister introduced a "protocol" to maintain public order, allowing federal forces to prevent disruptive road-blocking protests. This move has garnered criticism from social organisations, with some arguing that the protocol infringes on the right to protest. &nbsp;

The government's warning that those blocking streets could lose their right to receive state benefits adds another layer of tension to the ongoing situation. As the protests unfolded, an official announcement at train stations in Buenos Aires reiterated the potential consequences: “He who cuts, does not get paid.”&nbsp;

(With inputs from Reuters)&nbsp;

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In a display of public discontent, thousands took to the streets of Buenos Aires to voice their opposition to President Javier Milei's economic shock measures. The demonstrations marked the first major challenge for Argentina's new libertarian leader, who assumed office with a commitment to reduce public spending.

In a display of public discontent, thousands took to the streets of Buenos Aires to voice their opposition to President Javier Milei's economic shock measures. The demonstrations marked the first major challenge for Argentina's new libertarian leader, who assumed office with a commitment to reduce public spending. According to Reuters, Milei's recent announcements of a 54 per cent devaluation of the peso, subsidy cuts, and the closure of government ministries have sparked widespread concern and opposition from various social groups. The protests, primarily led by organisations representing the unemployed, unfolded peacefully in the main Plaza de Mayo square, where participants demanded increased financial support for the impoverished. President Milei's austerity measures, aimed at addressing Argentina's acute economic crisis, have triggered a wave of dissent. The proposed reforms, including the devaluation of the peso, have garnered significant attention and criticism. Milei's commitment to slashing public spending has set the stage for a potential clash with social groups that vehemently oppose what they refer to as "shock therapy" for the economy. The protesters, amidst a heavy police presence, marched peacefully, emphasising their desire for a peaceful demonstration without confrontations or clashes. Eduardo Belliboni, leader of the leftist protest group Polo Obrero, emphasised the peaceful nature of the mobilisation. "It is a peaceful mobilisation. We do not want any type of confrontation. We do not want any type of clash," Reuters quoted him as saying. The protesters, mainly advocating for increased financial support for the impoverished, congregated in Plaza de Mayo square, historically significant as a meeting point in front of the presidential palace. Authorities directed the demonstrators away from roads to ensure the flow of traffic. President Milei's recently appointed security minister introduced a "protocol" to maintain public order, allowing federal forces to prevent disruptive road-blocking protests. This move has garnered criticism from social organisations, with some arguing that the protocol infringes on the right to protest. The government's warning that those blocking streets could lose their right to receive state benefits adds another layer of tension to the ongoing situation. As the protests unfolded, an official announcement at train stations in Buenos Aires reiterated the potential consequences: “He who cuts, does not get paid.” (With inputs from Reuters) WATCH WION LIVE HERE

Protests erupt in Buenos Aires against Milei's economic overhaul 

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