WION Business Wrap | Paytm’s rising competition, Toyota’s recent profits and more

WION Business Wrap | Paytm’s rising competition, Toyota’s recent profits and more

File photo.

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

Paytm faces regulatory hurdles in India while Walmart, Google seize market opportunity

In the wake of a regulatory crackdown, India's leading digital payments platform, Paytm, finds itself in turbulent waters as retailers express apprehension, opening doors for retail giants Walmart and Google to make significant inroads into the market.

Add WION as a Preferred Source

Read more here

Toyota boosts profit outlook as earnings surge, fuelled by weak yen: Report

Japan's leading automaker, Toyota has revised its full fiscal year profit forecast upwards following robust earnings in the October to December quarter, where profits nearly doubled compared to the previous year.

Read more here

Nintendo boosts Switch sales forecast, hints at new hardware launch

Nintendo has elevated its full-year Switch sales forecast to 15.5 million units, up from the previous estimate of 15 million units, driven by robust sales during the year-end shopping season.

Read more here

Paytm CEO Advised by Government: No intervention in RBI clampdown

Following the Reserve Bank of India's (RBI) recent restrictions on Paytm, the company's CEO, Vijay Shekhar Sharma, met with Finance Minister Nirmala Sitharaman to discuss the matter.

Read more here

Solar Industry Crossroads: Europe grapples with Chinese imports amid green energy boom

Europe's ambitious journey towards green energy is facing a significant challenge, caught in a dilemma between soaring installations driven by cheap Chinese solar panel imports and the devastating impact on local solar manufacturers.

Read more here

DBS CEO's pay slashed following digital banking disruptions amid record profits

Singapore's leading lender, DBS Group, reported record-breaking full-year results, yet Chief Executive Officer Piyush Gupta faced a significant reduction in compensation due to digital banking disruptions witnessed last year.

Read more here

Honda recalls 750,000 US vehicles due to airbag defect, urges prompt action

Honda announced on Tuesday that it is recalling 750,000 vehicles in the United States, citing a potential defect involving airbags that could unintentionally deploy during a crash.

Read more here

China escalates crackdown on short-selling with stringent measures

In a move to curb short-selling, China's securities regulator announced on Tuesday a series of stringent measures, including the suspension of brokerages from borrowing shares for lending and imposing a cap on the size of securities re-lending businesses.

Read more here

Disney, Fox, Warner Bros Discovery unite to launch sports streaming platform

In a new collaboration, Fox Corp, Disney, and Warner Bros Discovery announced on Tuesday their plans to introduce a joint sports streaming service in the upcoming autumn, aiming to capture the attention of younger audiences increasingly turning away from traditional television.

Read more here