WION Business Wrap | From Japan to the U.S: Top business and economy stories of the day

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.

Paramount global surprises with streaming growth despite missing revenue estimates

Paramount Global's quarterly revenue disappointed Wall Street on Wednesday, even after posting a profit boosted by streaming gains that overshadowed a sluggish advertising market.

Apple to expand generative AI use: CEO Tim Cook at shareholder meeting

During Apple's annual shareholder meeting, CEO Tim Cook revealed plans to provide more insights into the company's utilisation of generative artificial intelligence (AI) later this year.

Japan's factory output plummets in January as economic concerns mount

Japan's factory output experienced its sharpest decline since May 2020, according to government data released on Thursday, increasing worries about the country's fragile economy, which slipped into recession late last year.

Google faces $2.3 bn lawsuit from European media groups over alleged ad tech misconduct

Google is facing a 2.1-billion-euro ($2.3 billion) lawsuit filed by 32 media conglomerates, including Axel Springer and Schibsted.

WTO Showdown: US-led reform efforts trigger friction with India

A dispute has arisen over reforming the World Trade Organisation's dispute settlement system at the 13th ministerial meeting (MC13), with India accusing the US of stalling progress.

Electronic Arts announces workforce reduction and office space cutback: Report

Electronic Arts (EA), a prominent player in the video game industry, plans to trim its workforce by 5 per cent and downsize office space in a strategic restructuring effort. This announcement comes while challenges within the gaming sector loom, compounded by high interest rates.

Wendy's promises no surge pricing for burgers amid backlash over CEO's comments

Wendy's, the renowned burger chain, has responded to a social media uproar following comments made by its CEO, Kirk Tanner, over the possible implementation of "dynamic pricing."

Shell's Savion initiates sale of solar assets: Reports

Shell's American solar subsidiary, Savion, has initiated the sale of approximately 25 per cent of its solar assets, according to industry sources and a marketing document obtained by Reuters.

Gemini agrees to return $1.1 billion to customers in regulatory settlement

Cryptocurrency exchange Gemini has reached a settlement with the New York Department of Financial Services (NYDFS), agreeing to refund at least $1.1 billion to customers impacted by its discontinued lending program, Reuters reported.

SEC's climate reporting rule: What's at stake for investors and corporations?

Wall Street's top regulator, the US Securities and Exchange Commission (SEC), is nearing a decision that could reshape how thousands of US-listed companies disclose their climate-related risks and impacts to investors.

Ukraine seeks $3 billion in monthly aid as war rages on

Ukrainian Finance Minister Serhiy Marchenko has issued an urgent plea for $3 billion in monthly financial assistance to sustain the country throughout 2024. This request comes amid mounting economic pressure due to the ongoing war with Russia.

US SEC investigates potential misconduct at OpenAI

The Securities and Exchange Commission (SEC) is probing potential miscommunication between OpenAI and its investors during a period of internal conflict that led to CEO Sam Altman's ousting in November 2023.