Wion Business Wrap | Red Sea crisis, Toshiba delisting, Monsanto's legal woes & more
Houthis attacks in Red Sea
WION's Business Desk brings you this daily round-up of global stories from the world of business and economy.
Red Sea crisis weighs on already disrupted global supply chains
There is no respite for battered global supply chains. First, trade wars and then Covid-led restrictions disrupted global supply chains. Now, it is the Israel-Hamas war that is distorting them further. Oil tankers are idling, and cargo ships are rerouting around Africa as Red Sea shipping comes to a complete stop as violence related to the Israel-Hamas conflict threatens to destabilise the world economy.
India hits out at IMF on "excessive" currency intervention comment
India hits out against the International Monetary Fund (IMF) for claiming that the central bank had interfered "excessively" in the foreign exchange market. The IMF's report suggested that the Indian government was attempting to manipulate the value of the rupee.
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Can Iron Beam stop hypersonic missiles?
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IPL 2026 auction: Meet top 5 Indian all-rounders who can have big pay day
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Meet top 5 Indian batters with most ODI runs in 2025, check who tops the list
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IPL 2026 auction: Meet 5 foreign wicketkeepers who can get huge bids
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Nostradamus prophecies for 2026: Bees, 7 months great war, 3 fires and more
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Iron Beam’s laser accuracy: How it can targets objects smaller than a football
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What is Eurofighter Typhoon that Bangladesh is considering to replace its MiG-29 fighter jet fleet?
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3I/ATLAS update: Interstellar comet emitting X-rays covering an area of 400,000 km
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Meet top 5 batters with most ODI runs in 2025, check who tops the list
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Meet 5 batters with highest Test scores in 2025, one Indian on the list
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Super eager employee fired for clocking in early despite repeated reminders
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Meet top 5 bowlers with most wickets in 2025, one Indian on list
Tesla alters employee compensation strategy, opts out of merit-based stock awards
Tesla has informed salaried employees that the company will not be offering merit-based equity awards this year. While no explicit reason was provided for this deviation from the norm, insights from four employees across different departments suggest a widespread impact.
EU and US call a truce, postpone steel tariff showdown until after elections
The European Union (EU) and the US have decided to prolong their ceasefire on steel and aluminium imports, averting the looming threat of tariffs impacting transatlantic trade.
Hyundai's Strategic Exit: Korean carmaker to sell Russian plant for token amount amid market shifts
In a strategic move responding to geopolitical changes, South Korea's Hyundai Motor is set to sell its Russian plant for a nominal 7,000 roubles ($77.67), becoming the latest global automaker to divest from Russian assets since the outbreak of the war in Ukraine.
After delisting, Toshiba navigates an uncertain future with new owners
Toshiba has bid farewell to the Tokyo exchange after 74 years, marking the end of an era marred by a decade of turmoil and scandal that tarnished one of Japan's major brands.
Lufthansa's $9 bn aircraft bonanza: German airline orders 80 planes from Boeing and Airbus
Lufthansa on Tuesday inked a deal worth $9 billion, ordering a total of 80 planes from both Boeing and Airbus, with delivery set between 2026 and 2032, marking the German flagship carrier's first purchase of Boeing narrow-body planes in approximately 30 years.
Monsanto to pay $857 million in damages in PCB contamination case
In a major legal blow, a Washington state jury has ruled that Monsanto must pay $857 million to seven former students and parent volunteers of the Sky Valley Education Centre in Monroe, Washington.
Chinese retailers' shift to lower prices raises concerns of deepening deflation
In a bid to attract cost-conscious consumers, Chinese retailers are strategically pivoting towards lower-priced goods and services. This shift, while aimed at boosting consumer spending, is raising concerns about the entrenchment of deflationary trends in China's economy.