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WION Business Wrap | Guyana-Venezuela tensions, The Dollar’s 5-month low, General Motors & more

WION Business Wrap | Guyana-Venezuela tensions, The Dollar’s 5-month low, General Motors & more

Representative image showing US dollar currency notes

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

Guyana-Venezuela tensions: How oil discovery revivedEssequibocrisis

On December 15, Guyana and Venezuela agreed to resolve the Essequibo dispute without the use of force. With that, the threat of a military conflict is over - at least for now.

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Former EU Commission President Jacques Delors, architect of euro project, dies at 98

Jacques Delors, a key architect of the European Union's historic single currency project, died at 98 on Wednesday.

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Dollar slides to 5-month low against Euro as Fed signals possible rate cuts

The US dollar hit a five-month low against the euro and a basket of currencies on Wednesday, driven by expectations that the Federal Reserve might consider cutting interest rates.

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General Motors sues San Francisco for $121 mn over alleged tax overcharge

General Motors (GM) has initiated legal proceedings against the city of San Francisco, seeking to recover over $100 million, alleging an unjustly inflated tax bill.

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Amazon Prime Video subscribers will soon see ads unless they pay extra in these countries

Amazon's Prime Video subscribers will no longer enjoy the ad-free experience unless they pay an additional $3.83 (£2.99) in some countries.

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Turkey raises minimum wage by 49pc amid soaring inflation

In a bid to alleviate the mounting pressure of soaring living costs, Turkey has announced a substantial 49 per cent increase in the minimum wage for the upcoming year.

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Apple wins reprieve in smartwatch battle as appeals court lifts import ban

Apple has secured a temporary victory in its legal tussle over smartwatches, as a US appeals court temporarily lifted a government commission's import ban imposed in a patent dispute with medical technology firm Masimo.

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Maersk resumes Suez Canal routes amid global shipping concerns

Denmark's Maersk has announced the scheduling of numerous container vessels to traverse the Suez Canal and the Red Sea in the coming days, signalling a potential return to normalcy for global shipping firms.

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China unveils plan to boost domestic demand, technological self-reliance

China has set forth an economic agenda aimed at expanding domestic demand, ensuring a swift recovery, and promoting stable growth, according to an interim report on China's 14th five-year plan published by parliament on Wednesday.

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