WION Business Wrap | Nvidia's valuation surge, Japan slips into recession & more
A view of a Nvidia logo at their headquarters in Taipei, Taiwan
WION's Business Desk brings you this daily round up of global stories from the world of business and economy.
India to set up 'Bharat Mart' in Dubai: All you need to know about the warehouse facility
As part of its ambition to displace China as the global supply chain hub, India is setting up a warehouse facility, named 'Bharat Mart', in the United Arab Emirates.
EU mulls sanctions on two dozen firms, including three Chinese companies: Report
At least two dozen firms, including three Chinese firms, are likely to face the European Union's latest sanctions. These firms have been accused of supporting Russia's war efforts in Ukraine.
Japan slips into recession, overtaken by Germany as third largest economy
Japan has lost that position to Germany, after contracting for the last six months of 2023 and consequently slipping into a recession.
Rising trend of 'lying flat' among Chinese youth reflects economic pessimism
In the face of dwindling job opportunities amid a sluggish economy, a growing number of young Chinese are embracing the concept of "lying flat" – a term describing individuals who work minimally to sustain themselves while prioritising personal interests and well-being over corporate pursuits.
India and UAE unveil ambitious trans-continental trade corridor amid regional challenges
In a significant development, India and the United Arab Emirates (UAE) have inked a historic agreement on a trans-continental trade corridor, aiming to connect Europe with India through the Middle East via sea and rail.
Nvidia surpasses Alphabet to claim third spot in Wall Street's valuation race
In a significant shake-up on Wall Street, Nvidia has emerged as the third most valuable US company, surpassing Google-parent Alphabet.
Morgan Stanley to trim hundreds of jobs in wealth management unit
Investment banking giant Morgan Stanley is set to reduce its workforce by cutting hundreds of jobs in its wealth management unit, sources tell Reuters.
Cisco announces job cuts and revenue forecast slash amid economic challenges
In response to the economic challenges plaguing the tech industry, networking equipment giant Cisco Systems has declared plans to cut more than 4,000 jobs, equivalent to 5 per cent of its global workforce.
Airbus CEO issues blunt warning as unexpected space business losses trigger internal overhaul
Guillaume Faury, the CEO of Airbus, has delivered a message to the company's staff, labelling recent unexpected losses in its Space business as "not acceptable."