National Handloom Day 2026: From Alia Bhatt to Samantha Ruth Prabhu; Actresses who celebrated India's textile heritage as brides

The Royals enter the Doctor Who universe: King Charles and Queen Camilla beam into Commonwealth Games in TARDIS

Unitree Robotics targets $9 billion valuation in landmark IPO backed by DeepSeek and Tencent

India names 27 sites in Arunachal Pradesh

Bharat Bhhagya Viddhaata OTT: When will Kangana Ranaut's film stream online?

How many soldiers operate one S-400 battery?

Shakib Al Hasan ready to return to Bangladesh—under one condition

‘Fake news’: MEA rejects report claiming India sought defence pact with Israel after Pakistan, Saudi Arabia, Turkey deal

Rockstar to unveil GTA 6 extended look ahead of November launch

Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine

Drug-resistant fungus that hides in hair and enters bloodstream reported in 23 US states

Technology transfer deal boosts India's defence manufacturing ambitions

Border row erupts in Europe after Ceuta crossings, Spain imposes border controls on Italy

Morale plummets on USS Abraham Lincoln: Are US sailors reaching a breaking point? | GRAVITAS

'Security can't be bought with Pakistan, Turkey deal': Iran tells Saudi Arabia

Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside

Colombia’s new president Abelardo de la Espriella vows to ‘defeat narco-terrorists’, signals hardline shift

New Friday OTT releases (August 7, 2026): Operation Safed Sagar, Vadhandhi, Main Vaapis Aaunga- 6 movies and TV shows on Netflix, Prime Video and more

Squadron Leader Bhawana Kanth scripts history as Indian Air Force gets its first woman ‘Top Gun’ pilot

RSS says Gen Z protests reflect genuine distress

Trump says Iranian school bombing photos could be AI-generated - 'I don’t think...'

IAF officer held for sharing sensitive information in 'honey trap' case, booked under Official Secrets Act

Stray Kids under scrutiny? Fans react to Grammy submission silence after BTS boycott

Why the Su-30MKI doesn't need external fuel tanks to fly vast distances

Jugal Hansraj reunites with Shekhar Kapur after 40 years for Masoom: The Next Generation

New speed limits, automatic challans: Big traffic change coming to Delhi-Meerut Expressway. All you need to know

India officially names 27 places in Arunachal to counter China's renaming claims

Trump calls White House ballroom ruling a 'national disgrace' as court says Congress approval needed

US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance

Why the Su-30MKI is one of the heaviest fighters ever built

Uttarakhand young innovator builds India's own flying vehicle, conducts first test flight: WATCH

Chilling video shows students take cover as teen opens fire at Thai school

Reese Witherspoon's father hospitalised after poolside incident in Nashville: Report

India's Tata Group on Friday signed a strategy deal to build a lithium-ion cell factory, based on an investment of approximately 130 billion rupees ($1.58 billion), as per Reuters reports.

This move is in line with the country's efforts on creating its own electric vehicle supply chain.

The car market in India is very small if compared to the size of the country's population. Tata Motors overpowers its electric vehicle (EV) sales, which made up just 1% of India's total car sales of about 3.8 million last year.

As per a joint statement on the memorandum of understanding between Tata's unit Agratas Energy Storage Solutions and the government of the western state of Gujarat, the work on the plant, which is to be built in Sanand, northern Gujarat, was expected to start in less than three years.

The statement said that the initial manufacturing capacity of the plant would be 20 Gigawatt hours (GWh), which could further be doubled in a second phase of expansion.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/tata-group-considers-injecting-another-2-billion-into-super-app-venture-report-575403">Tata Group considers injecting another $2 billion into super app venture: Report</a>

"The plant will go a long way in contributing to the development of the EV ecosystem in Gujarat and India," Reuters quoted Vijay Nehra, an official in the Gujarat state government, as saying.

<h2>Jaguar Land Rover owner to pick UK for its new electric car battery plant</h2>

In a move that could revolutionize the country's electric vehicle industry, Tata Motors, the Indian owner of Jaguar Land Rover, is on the verge of selecting Britain for its multi-billion-pound electric car battery plant.&nbsp;

The decision, according to BBC reports, is expected to be finalized during an upcoming visit by Tata's CEO to London.&nbsp;

The proposed plant could bring an impressive 9,000 jobs to Somerset, a picturesque county in southwest England.

This proposed investment is a significant boost to the British car industry and a major win for Prime Minister Rishi Sunak, who has been pressured to attract car manufacturers to the country.&nbsp;

UK's finance minister, Jeremy Hunt, had recently alluded to a significant development in Britain's electric vehicle battery-making capacity, and Tata Motors' choice of Britain over Spain is set to fulfil that promise.&nbsp;

On being asked about Britain's EV battery-making capacity at an event, he said, "watch this space".&nbsp;

(With inputs from agencies)

 
&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

India's Tata Group on Friday signed a strategy deal to build a lithium-ion cell factory, based on an investment of approximately 130 billion rupees ($1.58 billion), as per Reuters reports.

India's Tata Group on Friday signed a strategy deal to build a lithium-ion cell factory, based on an investment of approximately 130 billion rupees ($1.58 billion), as per Reuters reports. This move is in line with the country's efforts on creating its own electric vehicle supply chain. The car market in India is very small if compared to the size of the country's population. Tata Motors overpowers its electric vehicle (EV) sales, which made up just 1% of India's total car sales of about 3.8 million last year. As per a joint statement on the memorandum of understanding between Tata's unit Agratas Energy Storage Solutions and the government of the western state of Gujarat, the work on the plant, which is to be built in Sanand, northern Gujarat, was expected to start in less than three years. The statement said that the initial manufacturing capacity of the plant would be 20 Gigawatt hours (GWh), which could further be doubled in a second phase of expansion. Also read: Tata Group considers injecting another $2 billion into super app venture: Report "The plant will go a long way in contributing to the development of the EV ecosystem in Gujarat and India," Reuters quoted Vijay Nehra, an official in the Gujarat state government, as saying. Jaguar Land Rover owner to pick UK for its new electric car battery plant In a move that could revolutionize the country's electric vehicle industry, Tata Motors, the Indian owner of Jaguar Land Rover, is on the verge of selecting Britain for its multi-billion-pound electric car battery plant. The decision, according to BBC reports, is expected to be finalized during an upcoming visit by Tata's CEO to London. The proposed plant could bring an impressive 9,000 jobs to Somerset, a picturesque county in southwest England. This proposed investment is a significant boost to the British car industry and a major win for Prime Minister Rishi Sunak, who has been pressured to attract car manufacturers to the country. UK's finance minister, Jeremy Hunt, had recently alluded to a significant development in Britain's electric vehicle battery-making capacity, and Tata Motors' choice of Britain over Spain is set to fulfil that promise. On being asked about Britain's EV battery-making capacity at an event, he said, "watch this space". (With inputs from agencies) WATCH WION LIVE HERE

Tata Group signs $1.6 billion deal with Gujarat government to set up EV battery plant

Converting a great idea into a business requires a lot of hard work but that is just the beginning. Next comes the financial support and it was at this stage that a man in Bengaluru couldn’t believe his luck. We are talking about Pawan Gupta, the co-founder and CEO of Betterhalf.ai. In a tweet on Friday, he shared how he “found an unexpected investor in (his) landlord. Contrary to the cases from the city where landlords troubled tenants over minute factors, this house owner went above and beyond by investing $10,000 (Rs 8 lakh approximately) in Pawan's AI-driven matrimonial app. Betterhalf.ai, hailed as India's new age matrimony app and the country's first marriage super app, aims to help individuals find compatible life partners.&nbsp;

Pawan Gupta expressed his admiration for the entrepreneurial spirit of Bengaluru residents who made him believe that the city is called “Silicon Valley of India” for a reason. Using the hashtag #peakbengalurumoment, he shared his unexpected investor's story and expressed gratitude to the landlord for believing in him. “In a tough business landscape, I found an unexpected investor in my landlord. He recently invested $10K in my start-up, Betterhalf.ai. Truly amazed by the entrepreneurial spirit everyone in Bangalore shows. Silicon Valley of India for a reason,” tweeted Pawan.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
In a tough business landscape, I found an unexpected investor in my landlord. He recently invested $10K in my startup <a href="https://twitter.com/betterhalfai?ref_src=twsrc%5Etfw">@betterhalfai</a>. Truly amazed by the entrepreneurial spirit everyone in Bangalore shows. Silicon Valley of India for a reason. <a href="https://twitter.com/hashtag/peakbengalurumoment?src=hash&amp;ref_src=twsrc%5Etfw">#peakbengalurumoment</a> <a href="https://t.co/IfzUn0lPkl">pic.twitter.com/IfzUn0lPkl</a>
— Pawan Gupta (@pguptasloan) <a href="https://twitter.com/pguptasloan/status/1664630709095481345?ref_src=twsrc%5Etfw">June 2, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

The shared screenshot of the conversation between Pawan and his landlord is also winning the internet. In it, the landlord’s messages read: "I'm investing in U, honestly. All the best and hope you reach the greatest of heights. Dropped the investment. $10K.”

This act of faith and support from the landlord has also impressed social media users, who lauded the owner’s generosity and belief in Pawan's entrepreneurial skills.&nbsp;

One of the users commented, "Is that actually in $? That's great funding. Best wishes.” To this, Pawan Gupta replied, "Yes-that's correct. Bangalore surprises you."

Pawan Gupta, a graduate of MIT Sloan School of Management, has a strong entrepreneurial background. His latest company Betterhalf.ai introduces the world's fastest single matching system. 
 
&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Converting a great idea into a business requires a lot of hard work but that is just the beginning. Next comes the financial support and it was at this stage that a man in Bengaluru couldn’t believe his luck.

Converting a great idea into a business requires a lot of hard work but that is just the beginning. Next comes the financial support and it was at this stage that a man in Bengaluru couldn’t believe his luck. We are talking about Pawan Gupta, the co-founder and CEO of Betterhalf.ai. In a tweet on Friday, he shared how he “found an unexpected investor in (his) landlord. Contrary to the cases from the city where landlords troubled tenants over minute factors, this house owner went above and beyond by investing $10,000 (Rs 8 lakh approximately) in Pawan's AI-driven matrimonial app. Betterhalf.ai, hailed as India's new age matrimony app and the country's first marriage super app, aims to help individuals find compatible life partners. Pawan Gupta expressed his admiration for the entrepreneurial spirit of Bengaluru residents who made him believe that the city is called “Silicon Valley of India” for a reason. Using the hashtag #peakbengalurumoment, he shared his unexpected investor's story and expressed gratitude to the landlord for believing in him. “In a tough business landscape, I found an unexpected investor in my landlord. He recently invested $10K in my start-up, Betterhalf.ai. Truly amazed by the entrepreneurial spirit everyone in Bangalore shows. Silicon Valley of India for a reason,” tweeted Pawan. In a tough business landscape, I found an unexpected investor in my landlord. He recently invested $10K in my startup @betterhalfai. Truly amazed by the entrepreneurial spirit everyone in Bangalore shows. Silicon Valley of India for a reason. #peakbengalurumoment pic.twitter.com/IfzUn0lPkl — Pawan Gupta (@pguptasloan) June 2, 2023 × The shared screenshot of the conversation between Pawan and his landlord is also winning the internet. In it, the landlord’s messages read: "I'm investing in U, honestly. All the best and hope you reach the greatest of heights. Dropped the investment. $10K.” This act of faith and support from the landlord has also impressed social media users, who lauded the owner’s generosity and belief in Pawan's entrepreneurial skills. One of the users commented, "Is that actually in $? That's great funding. Best wishes.” To this, Pawan Gupta replied, "Yes-that's correct. Bangalore surprises you." Pawan Gupta, a graduate of MIT Sloan School of Management, has a strong entrepreneurial background. His latest company Betterhalf.ai introduces the world's fastest single matching system. WATCH WION LIVE HERE

India: Only in Bengaluru, landlord invests $10000 in tenant’s startup

In May 2023, India's retail sales of electric two-wheelers reached a new peak at 104,755 units, marking a 57 per cent increase compared to April 2023, which saw 66,724 units sold. This translates to an average of 3,379 electric two-wheelers sold per day last month. This is the first time, the sale of two-wheeler EVs&nbsp;topped 100,000 units.

These figures are based on end-of-day sales data from the government's Vahan website as of May 31.&nbsp;The record-breaking sales surpassed the previous high of 85,452 units in March 2023 by a significant margin of 19,303 units. This is despite the fact that in April, sales experienced a 22 per cent decline in April 2023 compared to the previous month.

<h2>What is driving the sale surge?</h2>

The surge in retail sales in May, particularly in the last week of the month, as per Auto Car Pro can be attributed to the Indian government's May 22nd decision to revise the subsidy under the FAME India (Faster Adoption and Manufacturing of (Hybrid &amp;) Electric Vehicles) Scheme.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/india-news/upi-hits-record-9-billion-transactions-in-may-worth-rs-143-trillion-599456">UPI records 9 billion transactions in May worth Rs 14.3 trillion</a>

The subsidy was reduced to Rs 10,000 per kilowatt per hour (kWh) from the previous Rs 15,000/kWh, and the incentive cap was lowered to 15 per cent of the two-wheeler EV's ex-factory price, down from the previous 40 per cent. This 37.5 per cent reduction in incentives resulted in higher vehicle prices starting from June 1, prompting value-conscious buyers to make their purchases earlier.

Between May 23 and May 31, a total of 57,917 electric two-wheelers were sold, indicating a rush of new purchases in the last eight days of May.&nbsp;

<h2>Which companies sold the most unit?</h2>

Among the leading OEMs (original equipment manufacturers), only three out of the top 25 experienced a decline in sales month-on-month.

Market leaders Ola Electric, TVS Motor Co, Ather Energy, and Bajaj Auto achieved their best-ever monthly sales figures.&nbsp;

- Ola Electric sold 28,438 units, surpassing its previous high of 21,991 units in April 2023.&nbsp;

- TVS Motor Co's iQube crossed the 20,000-unit mark with 20,253 units sold.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/us-narrowly-avoids-its-first-ever-default-as-congress-approves-debt-ceiling-suspension-599453">US narrowly avoids its first-ever default as Congress approves debt-ceiling suspension</a>

- Ather Energy achieved a new monthly high of 15,256 units.&nbsp;

- Bajaj Auto saw a remarkable 168 per cent increase in sales to 9,910 units, securing the fourth position for the first time.

These four OEMs, along with Ampere Vehicles, accounted for 83,475 units of the total 104,755 EVs sold in May, representing 80 per cent of the market share. Additionally, seven other OEMs achieved four-figure sales.

<h2>Will the sales sustain over time?</h2>

Looking ahead, the reduced FAME II subsidy, which took effect on June 1 and resulted in higher prices for e-scooters and e-motorcycles, and is expected to slow down demand in the coming months. However, it might pick up during the upcoming festival season.

Nevertheless, the prospects for the domestic electric two-wheeler industry are expected to remain strong due to the rising cost of petrol and diesel and the cost-effective nature of eco-friendly two-wheeler travel. Manufacturers are expected to announce price increases in the near future.

(With inputs from agencies)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

In May 2023, India's retail sales of electric two-wheelers reached a new peak at 104,755 units, marking a 57 per cent increase compared to April 2023, which saw 66,724 units sold.

In May 2023, India's retail sales of electric two-wheelers reached a new peak at 104,755 units, marking a 57 per cent increase compared to April 2023, which saw 66,724 units sold. This translates to an average of 3,379 electric two-wheelers sold per day last month. This is the first time, the sale of two-wheeler EVs topped 100,000 units. These figures are based on end-of-day sales data from the government's Vahan website as of May 31. The record-breaking sales surpassed the previous high of 85,452 units in March 2023 by a significant margin of 19,303 units. This is despite the fact that in April, sales experienced a 22 per cent decline in April 2023 compared to the previous month. What is driving the sale surge? The surge in retail sales in May, particularly in the last week of the month, as per Auto Car Pro can be attributed to the Indian government's May 22nd decision to revise the subsidy under the FAME India (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles) Scheme. Also read | UPI records 9 billion transactions in May worth Rs 14.3 trillion The subsidy was reduced to Rs 10,000 per kilowatt per hour (kWh) from the previous Rs 15,000/kWh, and the incentive cap was lowered to 15 per cent of the two-wheeler EV's ex-factory price, down from the previous 40 per cent. This 37.5 per cent reduction in incentives resulted in higher vehicle prices starting from June 1, prompting value-conscious buyers to make their purchases earlier. Between May 23 and May 31, a total of 57,917 electric two-wheelers were sold, indicating a rush of new purchases in the last eight days of May. Which companies sold the most unit? Among the leading OEMs (original equipment manufacturers), only three out of the top 25 experienced a decline in sales month-on-month. Market leaders Ola Electric, TVS Motor Co, Ather Energy, and Bajaj Auto achieved their best-ever monthly sales figures. - Ola Electric sold 28,438 units, surpassing its previous high of 21,991 units in April 2023. - TVS Motor Co's iQube crossed the 20,000-unit mark with 20,253 units sold. Also read | US narrowly avoids its first-ever default as Congress approves debt-ceiling suspension - Ather Energy achieved a new monthly high of 15,256 units. - Bajaj Auto saw a remarkable 168 per cent increase in sales to 9,910 units, securing the fourth position for the first time. These four OEMs, along with Ampere Vehicles, accounted for 83,475 units of the total 104,755 EVs sold in May, representing 80 per cent of the market share. Additionally, seven other OEMs achieved four-figure sales. Will the sales sustain over time? Looking ahead, the reduced FAME II subsidy, which took effect on June 1 and resulted in higher prices for e-scooters and e-motorcycles, and is expected to slow down demand in the coming months. However, it might pick up during the upcoming festival season. Nevertheless, the prospects for the domestic electric two-wheeler industry are expected to remain strong due to the rising cost of petrol and diesel and the cost-effective nature of eco-friendly two-wheeler travel. Manufacturers are expected to announce price increases in the near future. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India's electric two-wheeler retail sales hit record high in May 2023

Inflation in the Eurozone has decelerated to its slowest pace since Russia's invasion of Ukraine.&nbsp;The initial estimate from the European Union's statistics agency cited by CNN reveals that consumer prices in the euro area rose by 6.1 percent last month compared to the previous year, marking a significant drop from April's 7 percent surge.&nbsp;

Germany, France, Italy, and Spain, the major economies within the Eurozone, have all witnessed a sharp decline in inflation.&nbsp;

The easing of inflationary pressures can be attributed to various factors.&nbsp;Food prices moderated for the&nbsp;second consecutive month in May. Energy prices, however, declined during the same period. Moreover, core inflation, which excludes food and energy, hit a four-month low of 5.3 percent. These developments indicate a gradual cooling down of the previously heated price trends.

The downward trend in inflation&nbsp;has also ignited discussions about the need for the European Central Bank (ECB) to reconsider its course of action. But ECB President Christine Lagarde was quoted by CNN as saying that there is still work to be done before interest rates can be considered sufficiently restrictive.

Mixed Signals and Economic Indicators

While May's inflation data encourages some policymakers to advocate for an end to the ECB's tightening cycle, others remain cautious due to persistent services inflation and the tight labour market.&nbsp;

The Eurozone's unemployment rate dipped to 6.5 percent in April, demonstrating a robust economy. However, separate data revealed that lending by banks in the Eurozone stagnated in April, with loans to households barely showing any growth. These mixed signals make it challenging for the ECB to determine the most appropriate monetary policy approach.

If the gradual easing of core inflation continues, analysts cited by CNN predict that the ECB will settle for two more interest rate hikes, eventually reaching a peak deposit rate of 3.75 percent.&nbsp;

This will depend on various factors, including economic indicators, lending patterns, and the evolution of inflationary pressures.&nbsp;However, economists caution that the stagnant lending in the Eurozone provides further evidence that the ECB's tightening policy is effective, giving proponents of a rate hike halt a stronger argument.

Inflation in the Eurozone has decelerated to its slowest pace since Russia's invasion of Ukraine. The initial estimate from the European Union's statistics agency cited by CNN reveals that consumer prices in the euro area rose by 6.

Inflation in the Eurozone has decelerated to its slowest pace since Russia's invasion of Ukraine. The initial estimate from the European Union's statistics agency cited by CNN reveals that consumer prices in the euro area rose by 6.1 percent last month compared to the previous year, marking a significant drop from April's 7 percent surge. Germany, France, Italy, and Spain, the major economies within the Eurozone, have all witnessed a sharp decline in inflation. The easing of inflationary pressures can be attributed to various factors. Food prices moderated for the second consecutive month in May. Energy prices, however, declined during the same period. Moreover, core inflation, which excludes food and energy, hit a four-month low of 5.3 percent. These developments indicate a gradual cooling down of the previously heated price trends. The downward trend in inflation has also ignited discussions about the need for the European Central Bank (ECB) to reconsider its course of action. But ECB President Christine Lagarde was quoted by CNN as saying that there is still work to be done before interest rates can be considered sufficiently restrictive. Mixed Signals and Economic Indicators While May's inflation data encourages some policymakers to advocate for an end to the ECB's tightening cycle, others remain cautious due to persistent services inflation and the tight labour market. The Eurozone's unemployment rate dipped to 6.5 percent in April, demonstrating a robust economy. However, separate data revealed that lending by banks in the Eurozone stagnated in April, with loans to households barely showing any growth. These mixed signals make it challenging for the ECB to determine the most appropriate monetary policy approach. If the gradual easing of core inflation continues, analysts cited by CNN predict that the ECB will settle for two more interest rate hikes, eventually reaching a peak deposit rate of 3.75 percent. This will depend on various factors, including economic indicators, lending patterns, and the evolution of inflationary pressures. However, economists caution that the stagnant lending in the Eurozone provides further evidence that the ECB's tightening policy is effective, giving proponents of a rate hike halt a stronger argument.

Eurozone's inflation tumbles, fuels rate cut debate in European Central Bank

Gold is up over 20% in one year. that beats inflation, equities & every other mainstream asset class. So, how does gold maintain its Midas touch? This next report answers that question and tells you how you can invest in the timeless metal to craft a precious fortune. Watch this report.

Investing in Gold: Re-discovering a hidden treasure | World Business Watch

As economies gradually bounce back from the shocks of the COVID-19 pandemic, the International Labour Organization (ILO) has highlighted a concerning disparity in the employment landscape.&nbsp;

According to the latest report released by ILO on Wednesday, low-income countries in Africa and West Asia are being left out of the global unemployment recovery.&nbsp;

While global unemployment rates are projected to decline this year, the recovery is predominantly taking place in high-income countries, leaving many low-income nations grappling with persistently high rates of joblessness.

According to the report, global unemployment is expected to drop to 5.3 percent in 2023, representing approximately 191 million people. This marks a decline from 5.4 percent in 2022 and 5.5 percent in 2019.&nbsp;

However, the ILO emphasizes that most of this recovery will occur in high-income countries with surprising resilience to economic shocks.&nbsp;

On the other hand, low-income countries in Africa and West Asia&nbsp;continue to face an uphill battle, with unemployment rates projected to remain above pre-pandemic levels.

The report cited by Reuters reveals that North Africa is expected to experience an unemployment rate of 11.2 percent in 2023, while Arab states will see a rate of 9.3 percent.&nbsp;

The Growing Unemployment Disparity

Highlighting the severity of the employment crisis, the ILO estimates a global jobs gap of 11.7 percent in 2023, translating to around 453 million people worldwide who desire employment but lack access to suitable opportunities. Low-income countries face an even greater challenge, with a jobs gap of 21.5 percent compared to 8.2 percent in high-income nations.

The ILO identifies various factors exacerbating this divide, including the persistent effects of the pandemic and ongoing conflicts in Ukraine and Syria. These crises have resulted in high inflation rates, soaring interest rates, and currency depreciation, which hinder job creation and economic growth.

Another significant obstacle faced by low-income countries is the burden of debt.&nbsp;

The ILO points out that interest rates remain above 10 percent in 37 countries, increasing borrowing costs and making it more difficult to repay debts. Disturbingly, approximately 60 percent of countries now find themselves in "debt distress or at high risk of debt distress," according to data from the International Monetary Fund (IMF).

As the world economy faces a projected growth of only 2.8 percent in 2023, down from 3.4 percent in 2022, the ILO report serves as a stark reminder of the growing global inequalities that persist.&nbsp;

As economies gradually bounce back from the shocks of the COVID-19 pandemic, the International Labour Organization (ILO) has highlighted a concerning disparity in the employment landscape.

As economies gradually bounce back from the shocks of the COVID-19 pandemic, the International Labour Organization (ILO) has highlighted a concerning disparity in the employment landscape. According to the latest report released by ILO on Wednesday, low-income countries in Africa and West Asia are being left out of the global unemployment recovery. While global unemployment rates are projected to decline this year, the recovery is predominantly taking place in high-income countries, leaving many low-income nations grappling with persistently high rates of joblessness. According to the report, global unemployment is expected to drop to 5.3 percent in 2023, representing approximately 191 million people. This marks a decline from 5.4 percent in 2022 and 5.5 percent in 2019. However, the ILO emphasizes that most of this recovery will occur in high-income countries with surprising resilience to economic shocks. On the other hand, low-income countries in Africa and West Asia continue to face an uphill battle, with unemployment rates projected to remain above pre-pandemic levels. The report cited by Reuters reveals that North Africa is expected to experience an unemployment rate of 11.2 percent in 2023, while Arab states will see a rate of 9.3 percent. The Growing Unemployment Disparity Highlighting the severity of the employment crisis, the ILO estimates a global jobs gap of 11.7 percent in 2023, translating to around 453 million people worldwide who desire employment but lack access to suitable opportunities. Low-income countries face an even greater challenge, with a jobs gap of 21.5 percent compared to 8.2 percent in high-income nations. The ILO identifies various factors exacerbating this divide, including the persistent effects of the pandemic and ongoing conflicts in Ukraine and Syria. These crises have resulted in high inflation rates, soaring interest rates, and currency depreciation, which hinder job creation and economic growth. Another significant obstacle faced by low-income countries is the burden of debt. The ILO points out that interest rates remain above 10 percent in 37 countries, increasing borrowing costs and making it more difficult to repay debts. Disturbingly, approximately 60 percent of countries now find themselves in "debt distress or at high risk of debt distress," according to data from the International Monetary Fund (IMF). As the world economy faces a projected growth of only 2.8 percent in 2023, down from 3.4 percent in 2022, the ILO report serves as a stark reminder of the growing global inequalities that persist.

Unemployment disparity: High-income nations flourish, low-income countries lag behind

Meta is soon to launch its Twitter rival, which reportedly goes by the codename P92 or Barcelona, by June-end, reported The Verge citing a leaked Substack newsletter.&nbsp;If reports are to be believed, the new character length provided by this new text-based Twitter competitor will be 500 characters. Users will also be able to have links, pictures, and videos in the post, similar to Elon Musk's microblogging site.

Also Read | <a href="https://www.wionews.com/science/indian-scientists-discover-62-plants-that-can-live-without-water-in-western-ghats-599626">Indian scientists discover 62 plants that can live without water in Western Ghats</a>

The reports of this new rival application gained fire when The Verge quoted Lia Haberman sharing some leaked documents. Lia teaches Social Media and Influencer Marketing at UCLA (University of California, Los Angeles).&nbsp;

The Verge reported that the leaked ICYMI Substack newsletter showed marketing slides and other details about the rumoured app. In the leaked slides, no specific name has been assigned to the application and it is only referred to as “Instagram’s new text-based app for conversations."

Also Read | <a href="https://www.wionews.com/india-news/mumbai-2611-attack-accused-tahawwur-rana-challenges-extradition-to-india-599609">US: Mumbai 26/11 attack accused Tahawwur Rana challenges order of his extradition to India</a>

But there is a catch! Users can use the same Instagram credentials and voila! All of your information, including your followers, bio information, and verified tick will get transported to the new app.&nbsp;

The looks of the app appear to be that of an offspring of Twitter and Instagram.&nbsp;The leaked slides said the text-based app will be “equipping you with settings to control who can reply to you and mention your account."&nbsp;

<h2>Decentralised application</h2>

“Soon, our app will be compatible with certain other apps like Mastodon,” Instagram’s slide said.&nbsp;“Users on these other apps will be able to search for, follow and interact with your profile and content if you’re public, or if you’re private and approve them as followers.”

Watch | Hollywood star Bruce Willis' daughter Tallulah talks about her father's daily battle with dementia

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/hollywood-star-bruce-willis-daughter-tallulah-talks-about-her-fathers-daily-battle-with-dementia-599634/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Instagram is already so much popular among the masses, and with the genesis of this new text-based beast, the media platform is believed to gain more traction.&nbsp;The app is perceived to provide competition to platforms like Mastodon and Bluesky.&nbsp;

<h2>Meta response over the new Twitter-like application&nbsp;</h2>

Meta has so far not commented over any future launch of a Twitter-like app. The tech giant in March reportedly said, “We’re exploring a standalone decentralized social network for sharing text updates. We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests.”

&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

Meta is soon to launch its Twitter rival, which reportedly goes by the codename P92 or Barcelona, by June-end, reported The Verge citing a leaked Substack newsletter.

Meta is soon to launch its Twitter rival, which reportedly goes by the codename P92 or Barcelona, by June-end, reported The Verge citing a leaked Substack newsletter. If reports are to be believed, the new character length provided by this new text-based Twitter competitor will be 500 characters. Users will also be able to have links, pictures, and videos in the post, similar to Elon Musk's microblogging site. Also Read | Indian scientists discover 62 plants that can live without water in Western Ghats The reports of this new rival application gained fire when The Verge quoted Lia Haberman sharing some leaked documents. Lia teaches Social Media and Influencer Marketing at UCLA (University of California, Los Angeles). The Verge reported that the leaked ICYMI Substack newsletter showed marketing slides and other details about the rumoured app. In the leaked slides, no specific name has been assigned to the application and it is only referred to as “Instagram’s new text-based app for conversations." Also Read | US: Mumbai 26/11 attack accused Tahawwur Rana challenges order of his extradition to India But there is a catch! Users can use the same Instagram credentials and voila! All of your information, including your followers, bio information, and verified tick will get transported to the new app. The looks of the app appear to be that of an offspring of Twitter and Instagram. The leaked slides said the text-based app will be “equipping you with settings to control who can reply to you and mention your account." Decentralised application “Soon, our app will be compatible with certain other apps like Mastodon,” Instagram’s slide said. “Users on these other apps will be able to search for, follow and interact with your profile and content if you’re public, or if you’re private and approve them as followers.” Watch | Hollywood star Bruce Willis' daughter Tallulah talks about her father's daily battle with dementia × Instagram is already so much popular among the masses, and with the genesis of this new text-based beast, the media platform is believed to gain more traction. The app is perceived to provide competition to platforms like Mastodon and Bluesky. Meta response over the new Twitter-like application Meta has so far not commented over any future launch of a Twitter-like app. The tech giant in March reportedly said, “We’re exploring a standalone decentralized social network for sharing text updates. We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests.” WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

'Barcelona': Instagram to launch new text-based app to rival Twitter by June-end

E-Rupee, Sand Dollar and more: Nine countries that have digital currencies

In a recent interview, former United States treasury secretary Larry Summers said that Brexit will be remembered as a “historic economic error” which could have not only damaged the United Kingdom’s economy but helped increase the country’s inflation. Meanwhile, inflation in the Eurozone has fallen to 6.1 per cent in May 2023 down from 7.0 per cent, in April.&nbsp;

<h2>What did Summers say about the UK economy?</h2>

Speaking to BBC Radio 4’s Today Programme, Summers on Thursday said, “Brexit will be remembered as a historic economic error that reduced the competitiveness of the UK economy, put downward pressure on the pound and upward pressure on prices, limited import goods and limited in some ways the supply of labour. All of which contributed to higher inflation.”

One of the most prominent economists who served as the US treasury secretary, Summers also spoke about how the UK economic policy has been “substantially flawed for some years,” speaking particularly about its exit from the European Union (EU) and how it has driven costs higher in Britain.&nbsp;

Summers also went on to criticise officials at the Bank of England for Britain’s high inflation and said that the country’s problems have been “reinforced by very ill-judged monetary policies”.&nbsp;

This comes as the UK has been witnessing a cost-of-living crisis and soaring inflation. Last week, the country’s Office for National Statistics reported that inflation remains stubbornly high at 8.7 per cent in April, but&nbsp;it is down from 10.1 per cent in March.&nbsp;

Earlier this month, a report by the London School of Economics (LSE) said that British households have paid billions to make up for the extra cost of trade barriers on food imports from the EU. Notably, the UK also has the highest rate of inflation among the Group of Seven (G7) nations.&nbsp;

<h2>Eurozone inflation falls to 6.1 per cent&nbsp;</h2>

Meanwhile, inflation in the 20 countries which use the euro and are referred to as the ‘eurozone’ fell to 6.1 per cent in May 2023, down from 7.0 per cent the month prior, reported EU’s Eurostat agency. This drop also takes the countries’ annual inflation closer to the European Central Bank’s target of two per cent.&nbsp;

The decrease in inflation has been attributed to a drop in energy prices, while food and alcohol were the main components driving inflation, rising 12.5 per cent in May which was one per cent lower than the month before. Last year, the Eurozone was struggling with high inflation at 10.6 per cent due to the effects of the Russian invasion of Ukraine and supply chain issues post-Covid.&nbsp;

(With inputs from agencies)&nbsp; 
 
WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

In a recent interview, former United States treasury secretary Larry Summers said that Brexit will be remembered as a “historic economic error” which could have not only damaged the United Kingdom’s economy but helped increase the country’s inflation.

In a recent interview, former United States treasury secretary Larry Summers said that Brexit will be remembered as a “historic economic error” which could have not only damaged the United Kingdom’s economy but helped increase the country’s inflation. Meanwhile, inflation in the Eurozone has fallen to 6.1 per cent in May 2023 down from 7.0 per cent, in April. What did Summers say about the UK economy? Speaking to BBC Radio 4’s Today Programme, Summers on Thursday said, “Brexit will be remembered as a historic economic error that reduced the competitiveness of the UK economy, put downward pressure on the pound and upward pressure on prices, limited import goods and limited in some ways the supply of labour. All of which contributed to higher inflation.” One of the most prominent economists who served as the US treasury secretary, Summers also spoke about how the UK economic policy has been “substantially flawed for some years,” speaking particularly about its exit from the European Union (EU) and how it has driven costs higher in Britain. Summers also went on to criticise officials at the Bank of England for Britain’s high inflation and said that the country’s problems have been “reinforced by very ill-judged monetary policies”. This comes as the UK has been witnessing a cost-of-living crisis and soaring inflation. Last week, the country’s Office for National Statistics reported that inflation remains stubbornly high at 8.7 per cent in April, but it is down from 10.1 per cent in March. Earlier this month, a report by the London School of Economics (LSE) said that British households have paid billions to make up for the extra cost of trade barriers on food imports from the EU. Notably, the UK also has the highest rate of inflation among the Group of Seven (G7) nations. Eurozone inflation falls to 6.1 per cent Meanwhile, inflation in the 20 countries which use the euro and are referred to as the ‘eurozone’ fell to 6.1 per cent in May 2023, down from 7.0 per cent the month prior, reported EU’s Eurostat agency. This drop also takes the countries’ annual inflation closer to the European Central Bank’s target of two per cent. The decrease in inflation has been attributed to a drop in energy prices, while food and alcohol were the main components driving inflation, rising 12.5 per cent in May which was one per cent lower than the month before. Last year, the Eurozone was struggling with high inflation at 10.6 per cent due to the effects of the Russian invasion of Ukraine and supply chain issues post-Covid. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

‘Historic economic error’: Former US treasury secretary Larry Summers about Brexit; Eurozone inflation falls

Apple is planning to expand its retail chain with a focus on top Asian economies. The iPhone maker will also revamp its established store chains in the United States and Europe in the immediate future.&nbsp;

In the next four years, Apple Inc. is deliberating to open 15 new stores across the Asia Pacific region, Bloomberg reported, citing people familiar with the matter.

Apple also teased plans to open new stores at five locations in West Asia and Europe. The company is also aiming for six revamped or relocated stores in Asia, nine in Europe and 13 in North America, the Bloomberg report added.

<h2>Apple retail stores overhaul: The big number</h2>

In the course of the next four years, Apple will supposedly have 53 new, relocated or remodelled stores as part of its expansion strategy.

<h2>Apple retail stores: The India factor</h2>

In April, Apple CEO Tim Cook unveiled two flagship stores in Mumbai and New Delhi to huge fanfare.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/apple-in-india-tim-cook-launches-first-ever-apple-store-in-mumbai-bkc-the-second-one-to-open-in-delhi-soon-583623">Apple in India: Tim Cook launches first-ever Apple store in Mumbai BKC, the second one to open in Delhi</a>

The company considers India to be a growing&nbsp;market and has been focused to elevate the brand's rise in the world's most populous nation.

According to Bloomberg, one of the most notable new flagship Apple stores includes three sites in India.&nbsp;

They are DLF Promenade Mall in New Delhi with a target date of launch in March 2026, and two new retail stores in Mumbai's Borivali and Worli with target launch dates in June 2025 and November 2027, respectively.

Also watch |&nbsp;Apple gets a shot in the arm in India, hits $6bn in sales

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/apple-gets-a-shot-in-the-arm-in-india-hits-6bn-in-sales-583344/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Elsewhere, a flagship store is supposed to be unveiled soon at Seoul’s Hongdae and Shanghai's famous Jing'an Temple Plaza with tentative launch dates in December 2023&nbsp;and March 2024 respectively.

<h2>Apple retail stores: The current number</h2>

The Cupertino, California-based company currently runs over 520 stores in 26 countries all over the world. But there is a proportional disparity as half of them are located just in the United States.&nbsp;

<h2>Apple's big bite for retail stores: How does it make sense?</h2>

The company gets most of its revenue from streams such as e-commerce sites. But physical locations become key places for customers to buy premium Apple products on their peak heydays of hype, and serve the great aspirational tinge associated with its products, especially in growing economies like India.

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Apple is planning to expand its retail chain with a focus on top Asian economies. The iPhone maker will also revamp its established store chains in the United States and Europe in the immediate future.

Apple is planning to expand its retail chain with a focus on top Asian economies. The iPhone maker will also revamp its established store chains in the United States and Europe in the immediate future. In the next four years, Apple Inc. is deliberating to open 15 new stores across the Asia Pacific region, Bloomberg reported, citing people familiar with the matter. Apple also teased plans to open new stores at five locations in West Asia and Europe. The company is also aiming for six revamped or relocated stores in Asia, nine in Europe and 13 in North America, the Bloomberg report added. Apple retail stores overhaul: The big number In the course of the next four years, Apple will supposedly have 53 new, relocated or remodelled stores as part of its expansion strategy. Apple retail stores: The India factor In April, Apple CEO Tim Cook unveiled two flagship stores in Mumbai and New Delhi to huge fanfare. Also read | Apple in India: Tim Cook launches first-ever Apple store in Mumbai BKC, the second one to open in Delhi The company considers India to be a growing market and has been focused to elevate the brand's rise in the world's most populous nation. According to Bloomberg, one of the most notable new flagship Apple stores includes three sites in India. They are DLF Promenade Mall in New Delhi with a target date of launch in March 2026, and two new retail stores in Mumbai's Borivali and Worli with target launch dates in June 2025 and November 2027, respectively. Also watch | Apple gets a shot in the arm in India, hits $6bn in sales × Elsewhere, a flagship store is supposed to be unveiled soon at Seoul’s Hongdae and Shanghai's famous Jing'an Temple Plaza with tentative launch dates in December 2023 and March 2024 respectively. Apple retail stores: The current number The Cupertino, California-based company currently runs over 520 stores in 26 countries all over the world. But there is a proportional disparity as half of them are located just in the United States. Apple's big bite for retail stores: How does it make sense? The company gets most of its revenue from streams such as e-commerce sites. But physical locations become key places for customers to buy premium Apple products on their peak heydays of hype, and serve the great aspirational tinge associated with its products, especially in growing economies like India. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Apple to open new flagship stores with focus on India, China and South Korea

Elon Musk, currently the world's richest person, has been&nbsp;accused of insider trading in a proposed class action by investors. Musk has been&nbsp;accused of manipulating the cryptocurrency Dogecoin, costing them billions of dollars.

The filing was made in the Manhattan federal court on Wednesday night in which investors accused Musk of using Twitter posts and paying influencers and pursuing "publicity stunts" to make profits at their expense through multiple Dogecoin wallets that he controls.

Also read |&nbsp;<a href="https://www.wionews.com/technology/elon-musks-neuralink-cleared-for-human-test-of-brain-implants-596576">Elon Musk's Neuralink cleared for human test of brain implants</a>

Investors said this includes&nbsp;the time&nbsp;Musk sold about $124 million of Dogecoin in April after he replaced Twitter's blue bird logo with Dogecoin's Shiba Inu dog logo, leading to a 30 per cent&nbsp;spike in Dogecoin's price.

The Tesla owner&nbsp;bought Twitter in October 2022.

<h2>Elon Musk insider trading accusation: What does the court filing say?</h2>

The investors have accused Elon Musk of deliberately driving up Dogecoin's price by more than 36,000 per cent over the last two years and then letting it crash.

According to the filing in Manhattan court, a&nbsp;"deliberate course of carnival barking, market manipulation and insider trading" enabled Elon Musk to defraud investors, and pave the way for his own promotion&nbsp;and his companies.

Also watch |&nbsp;Elon Musk launches new AI start up to compete with OpenAI

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/elon-musk-launches-new-ai-start-up-to-compete-with-openai-583188/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

They included their latest accusations in a proposed third amended complaint, in a lawsuit that began last June.

<h2>What did Elon Musk say?</h2>

Elon Musk and Tesla had in March sought a dismissal of the second amended complaint. They called it a "fanciful work of fiction," and on May 26 said another amendment was unjustified.

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Elon Musk, currently the world's richest person, has been accused of insider trading in a proposed class action by investors. Musk has been accused of manipulating the cryptocurrency Dogecoin, costing them billions of dollars.

Elon Musk, currently the world's richest person, has been accused of insider trading in a proposed class action by investors. Musk has been accused of manipulating the cryptocurrency Dogecoin, costing them billions of dollars. The filing was made in the Manhattan federal court on Wednesday night in which investors accused Musk of using Twitter posts and paying influencers and pursuing "publicity stunts" to make profits at their expense through multiple Dogecoin wallets that he controls. Also read | Elon Musk's Neuralink cleared for human test of brain implants Investors said this includes the time Musk sold about $124 million of Dogecoin in April after he replaced Twitter's blue bird logo with Dogecoin's Shiba Inu dog logo, leading to a 30 per cent spike in Dogecoin's price. The Tesla owner bought Twitter in October 2022. Elon Musk insider trading accusation: What does the court filing say? The investors have accused Elon Musk of deliberately driving up Dogecoin's price by more than 36,000 per cent over the last two years and then letting it crash. According to the filing in Manhattan court, a "deliberate course of carnival barking, market manipulation and insider trading" enabled Elon Musk to defraud investors, and pave the way for his own promotion and his companies. Also watch | Elon Musk launches new AI start up to compete with OpenAI × They included their latest accusations in a proposed third amended complaint, in a lawsuit that began last June. What did Elon Musk say? Elon Musk and Tesla had in March sought a dismissal of the second amended complaint. They called it a "fanciful work of fiction," and on May 26 said another amendment was unjustified. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Elon Musk engaged in 'carnival barking' for insider trading: Dogecoin lawsuit

Boeing, the aerospace giant, has encountered another setback in its efforts to launch the first crewed mission of its Starliner spacecraft.&nbsp;

The highly anticipated launch, initially planned for July 21, has been indefinitely postponed as the company addresses concerns regarding the reliability of Starliner's parachute system, according to Reuters.

The delay is primarily linked to concerns surrounding the parachute system, which is designed to ensure the safe return of the Starliner capsule to earth. According to news reports, Boeing found issues with the spacecraft's parachute lines during engineering reviews last week.

This recent delay marks yet another chapter in a series of setbacks that have plagued Boeing's space program. Originally scheduled for a crewed mission in 2019, the Starliner project has faced numerous hurdles and technical challenges over the past few years.

The indefinite delay will undoubtedly impact the timeline of Boeing's space program and its ability to compete in the growing commercial space industry.&nbsp; According to regulatory filings, Boeing has recently disclosed a total loss of $883 million in its Starliner program.&nbsp;

Following the retirement of the space shuttle in 2011, Nasa sought a reliable means to transport astronauts to and from the International Space Station.&nbsp;

In 2014, as part of its commercial crew program, Nasa awarded Boeing a contract worth over $4 billion to construct a capsule. Concurrently, Nasa also chose SpaceX to develop a competing system, which has successfully launched humans into space on ten occasions, including seven missions in collaboration with Nasa.

However, multiple delays have significantly impacted Boeing's ability to fulfill its contractual obligations with Nasa and hindered its competition with its commercial rival SpaceX.&nbsp;

Boeing, the aerospace giant, has encountered another setback in its efforts to launch the first crewed mission of its Starliner spacecraft. The highly anticipated launch, initially planned for July 21, has been indefinitely postponed as the company addresses concerns regarding the reliability of Starliner's parachute system, according to Reuters.

Boeing, the aerospace giant, has encountered another setback in its efforts to launch the first crewed mission of its Starliner spacecraft. The highly anticipated launch, initially planned for July 21, has been indefinitely postponed as the company addresses concerns regarding the reliability of Starliner's parachute system, according to Reuters. The delay is primarily linked to concerns surrounding the parachute system, which is designed to ensure the safe return of the Starliner capsule to earth. According to news reports, Boeing found issues with the spacecraft's parachute lines during engineering reviews last week. This recent delay marks yet another chapter in a series of setbacks that have plagued Boeing's space program. Originally scheduled for a crewed mission in 2019, the Starliner project has faced numerous hurdles and technical challenges over the past few years. The indefinite delay will undoubtedly impact the timeline of Boeing's space program and its ability to compete in the growing commercial space industry. According to regulatory filings, Boeing has recently disclosed a total loss of $883 million in its Starliner program. Following the retirement of the space shuttle in 2011, Nasa sought a reliable means to transport astronauts to and from the International Space Station. In 2014, as part of its commercial crew program, Nasa awarded Boeing a contract worth over $4 billion to construct a capsule. Concurrently, Nasa also chose SpaceX to develop a competing system, which has successfully launched humans into space on ten occasions, including seven missions in collaboration with Nasa. However, multiple delays have significantly impacted Boeing's ability to fulfill its contractual obligations with Nasa and hindered its competition with its commercial rival SpaceX.

Boeing's first crewed space launch faces another delay due to safety issues

Chinese and Indian imports of Russian crude oil soared to record levels in May, as buyers took advantage of discounted supplies, a Reuters report said.&nbsp;

India and China imported around 110 million barrels in May, which was an increase of nearly 10 percent from the previous month, despite warnings from the United States against evading price caps. India and China are the world's top two crude importers and major buyers of Russian oil.&nbsp;

Data indicates that India imported a record-breaking 66.7 million barrels of Russian oil in May, while Chinese imports increased to 49.2 million barrels.

The surge in Russian oil shipments comes just ahead of the meeting between the Organization of the Petroleum Exporting Countries (OPEC) and their allies, including Russia, on June 4.

Despite a 5 percent drop in Brent Futures this week, which currently stands at approximately $73 per barrel, producers are unlikely to deepen supply cuts at the upcoming OPEC+ meeting, sources told Reuters.&nbsp;

Indian refiners have increased their purchases of medium sour crude such as Urals, as well as lighter grades like Sokol and Varandey, alongside a steady flow of Espo crude from the Pacific port of Kozmino.&nbsp;

In China, refiners are striving to reduce feedstock costs and improve refining margins amid a slower-than-expected economic recovery. Private Chinese oil refiners began purchasing Russian oil earlier this year and have steadily increased their volumes in recent months.

The increased demand from Chinese buyers is attributed to higher profits on supplies due to softer freight rates and stronger differentials. Freight rates for tankers carrying Espo crude from Kozmino to northern China have decreased to $2.2 million, after reaching an all-time high of $2.4 million in mid-March.&nbsp;

(With inputs from Reuters)

Chinese and Indian imports of Russian crude oil soared to record levels in May, as buyers took advantage of discounted supplies, a Reuters report said. India and China imported around 110 million barrels in May, which was an increase of nearly 10 percent from the previous month, despite warnings from the United States against evading price caps.

Chinese and Indian imports of Russian crude oil soared to record levels in May, as buyers took advantage of discounted supplies, a Reuters report said. India and China imported around 110 million barrels in May, which was an increase of nearly 10 percent from the previous month, despite warnings from the United States against evading price caps. India and China are the world's top two crude importers and major buyers of Russian oil. Data indicates that India imported a record-breaking 66.7 million barrels of Russian oil in May, while Chinese imports increased to 49.2 million barrels. The surge in Russian oil shipments comes just ahead of the meeting between the Organization of the Petroleum Exporting Countries (OPEC) and their allies, including Russia, on June 4. Despite a 5 percent drop in Brent Futures this week, which currently stands at approximately $73 per barrel, producers are unlikely to deepen supply cuts at the upcoming OPEC+ meeting, sources told Reuters. Indian refiners have increased their purchases of medium sour crude such as Urals, as well as lighter grades like Sokol and Varandey, alongside a steady flow of Espo crude from the Pacific port of Kozmino. In China, refiners are striving to reduce feedstock costs and improve refining margins amid a slower-than-expected economic recovery. Private Chinese oil refiners began purchasing Russian oil earlier this year and have steadily increased their volumes in recent months. The increased demand from Chinese buyers is attributed to higher profits on supplies due to softer freight rates and stronger differentials. Freight rates for tankers carrying Espo crude from Kozmino to northern China have decreased to $2.2 million, after reaching an all-time high of $2.4 million in mid-March. (With inputs from Reuters)

110 million barrels and counting: Russian oil imports from India and China surge in May

The post-pandemic rebound in global trade, which marked a period of recovery over the past two years, is now facing a significant slowdown, as per&nbsp;the latest report by Fitch Ratings.&nbsp;

The agency forecasts a growth rate of only 1.9 percent for international trade this year, a significant drop from the 5.5 percent growth observed in 2022.

Fitch Ratings suggests that the slowdown in trade growth reflects the stalling of globalization, with several factors contributing to this trend. 
&nbsp; 
Additionally, the world economy&nbsp;is projected to grow by 2 percent in 2023, down from 2.7 percent recorded last year.&nbsp;&nbsp;

Factors Influencing the Trade Slowdown&nbsp;

The report highlights several factors that have contributed to the deceleration of global trade.&nbsp;

Firstly, tighter monetary policies and declining fiscal support have played a role in dampening trade activity. Secondly, the resurgence of the services sector, which contributes less to trade than the goods sector, has also impacted overall trade growth.&nbsp;

Moreover, the volume of trade in goods is declining, with gains in services trade only partially offsetting this dip as the tourism and transportation sectors recover.

Supply-chain bottlenecks, which previously hindered trade, have been mostly resolved. Furthermore, the international specialization of services has decreased, accounting for only 22 percent of total trade.

Effects on Industrial Production and Global Economy&nbsp;

The decline in demand for goods has resulted in a rapid cooling of industrial production.&nbsp;

According to the credit rating agency,&nbsp;their forecast of a flattening trade-to-GDP ratio contrasts with the steady rise from the 1990s to the mid-2000s. However, the report also indicates that while some evidence of trade redirection is emerging, there is currently no indication that globalization is reversing completely.&nbsp;

The forecast comes at a time when global trade has faced significant disruptions due to geopolitical events like Russia's invasion of Ukraine.&nbsp;

Additionally, the trade war between the United States and China has escalated, leading to targeted measures against sectors such as chipmakers and high-tech industries.&nbsp;

The post-pandemic rebound in global trade, which marked a period of recovery over the past two years, is now facing a significant slowdown, as per the latest report by Fitch Ratings.

The post-pandemic rebound in global trade, which marked a period of recovery over the past two years, is now facing a significant slowdown, as per the latest report by Fitch Ratings. The agency forecasts a growth rate of only 1.9 percent for international trade this year, a significant drop from the 5.5 percent growth observed in 2022. Fitch Ratings suggests that the slowdown in trade growth reflects the stalling of globalization, with several factors contributing to this trend. Additionally, the world economy is projected to grow by 2 percent in 2023, down from 2.7 percent recorded last year. Factors Influencing the Trade Slowdown The report highlights several factors that have contributed to the deceleration of global trade. Firstly, tighter monetary policies and declining fiscal support have played a role in dampening trade activity. Secondly, the resurgence of the services sector, which contributes less to trade than the goods sector, has also impacted overall trade growth. Moreover, the volume of trade in goods is declining, with gains in services trade only partially offsetting this dip as the tourism and transportation sectors recover. Supply-chain bottlenecks, which previously hindered trade, have been mostly resolved. Furthermore, the international specialization of services has decreased, accounting for only 22 percent of total trade. Effects on Industrial Production and Global Economy The decline in demand for goods has resulted in a rapid cooling of industrial production. According to the credit rating agency, their forecast of a flattening trade-to-GDP ratio contrasts with the steady rise from the 1990s to the mid-2000s. However, the report also indicates that while some evidence of trade redirection is emerging, there is currently no indication that globalization is reversing completely. The forecast comes at a time when global trade has faced significant disruptions due to geopolitical events like Russia's invasion of Ukraine. Additionally, the trade war between the United States and China has escalated, leading to targeted measures against sectors such as chipmakers and high-tech industries.

Global trade recovery hits roadblock as Fitch Ratings signals slowing growth

India and China have unleashed their hunger for Russian oil, sending import levels skyrocketing to unprecedented levels. the oil-hungry Asian giants are gobbling up discounted supplies, leaving West Asia and Africa in the dust. A Reuters report suggests India, has taken its hunger for Russian oil to the next level. It has bought a jaw dropping record of 66.7 million barrels in may alone!

India's oil purchase from Russia breaches new high

Social media giant Twitter, acquired by billionaire Elon Musk for a staggering $44 billion, has seen its market value plummet to just one-third of its purchase price, a Reuters report said. Financial services company Fidelity, holding an equity stake in Twitter, recently marked down the value in their monthly disclosure on Sunday, shedding light on the challenging financial situation that has unfolded since Musk took control of the platform.

The acquisition, completed last year, raised eyebrows and sparked debates about the future of Twitter under Musk's leadership. Now, it seems those concerns were not unfounded. Musk himself acknowledged that he had overpaid for the platform, and recent reports indicate that Twitter's Worth is now less than half of what he initially paid.

The Musk vs Twitter Saga

Twitter's financial struggles have intensified since Musk's takeover, with the company burdened by a substantial $13 billion debt. Musk's unconventional decision-making and content moderation challenges have further exacerbated the situation, leading to a staggering 50 percent decline in advertising revenue, as confirmed by Musk in March.

To mitigate the revenue loss, Twitter introduced a subscription-based service called Twitter Blue, aiming to recoup some of the advertising revenue shortfalls. However, this attempt has fallen short of expectations, with less than 1 percent of Twitter's monthly users opting for the premium service by the end of March.

The recent markdown of Twitter's value by Fidelity raises concerns about the platform's prospects and its ability to regain stability under Musk's guidance. While the exact methodology behind Fidelity's valuation figures remains unclear, this development reflects the challenging nature of evaluating private companies like Twitter, now known as X Holdings Corp., without access to verified financial information.

The future of Twitter hangs in the balance, with stakeholders hoping for a turnaround that will restore investor confidence and unlock the platform's full potential. Elon Musk's ambitious acquisition may have hit a roadblock, but as history has shown, the tech industry is known for its unexpected twists and turns. All eyes will be on Musk as he navigates this critical juncture, aiming to transform Twitter's fortunes and prove its skeptics wrong.

(With inputs from Reuters)

Social media giant Twitter, acquired by billionaire Elon Musk for a staggering $44 billion, has seen its market value plummet to just one-third of its purchase price, a Reuters report said.

Social media giant Twitter, acquired by billionaire Elon Musk for a staggering $44 billion, has seen its market value plummet to just one-third of its purchase price, a Reuters report said. Financial services company Fidelity, holding an equity stake in Twitter, recently marked down the value in their monthly disclosure on Sunday, shedding light on the challenging financial situation that has unfolded since Musk took control of the platform. The acquisition, completed last year, raised eyebrows and sparked debates about the future of Twitter under Musk's leadership. Now, it seems those concerns were not unfounded. Musk himself acknowledged that he had overpaid for the platform, and recent reports indicate that Twitter's Worth is now less than half of what he initially paid. The Musk vs Twitter Saga Twitter's financial struggles have intensified since Musk's takeover, with the company burdened by a substantial $13 billion debt. Musk's unconventional decision-making and content moderation challenges have further exacerbated the situation, leading to a staggering 50 percent decline in advertising revenue, as confirmed by Musk in March. To mitigate the revenue loss, Twitter introduced a subscription-based service called Twitter Blue, aiming to recoup some of the advertising revenue shortfalls. However, this attempt has fallen short of expectations, with less than 1 percent of Twitter's monthly users opting for the premium service by the end of March. The recent markdown of Twitter's value by Fidelity raises concerns about the platform's prospects and its ability to regain stability under Musk's guidance. While the exact methodology behind Fidelity's valuation figures remains unclear, this development reflects the challenging nature of evaluating private companies like Twitter, now known as X Holdings Corp., without access to verified financial information. The future of Twitter hangs in the balance, with stakeholders hoping for a turnaround that will restore investor confidence and unlock the platform's full potential. Elon Musk's ambitious acquisition may have hit a roadblock, but as history has shown, the tech industry is known for its unexpected twists and turns. All eyes will be on Musk as he navigates this critical juncture, aiming to transform Twitter's fortunes and prove its skeptics wrong. (With inputs from Reuters)

Twitter's worth takes a tumble: Elon Musk's $44 billion investment deflates

The India growth story is alive and kicking. India's economy beat expectations to grow at 6.1% between January and March 2023 that not all, the government now estimates that the economy grew at 7.2% between April 2022 and March 2023.

India's economy beats estimates in Q4 of 2023 | World Business Watch

Amazon faced another privacy breach allegation related to children's privacy rights this time and has agreed to pay an additional 25 million dollars as part of a separate settlement. The issue escalated when the tech giant failed to delete Alexa recordings at the parents' request and kept them longer than necessary. These FTC settlements Mark a significant step in holding Big Tech accountable for prioritizing data collection profits over privacy concerns.

Amazon accused of privacy breach by storing Alexa's recordings

In a remarkable display of employee activism, hundreds of Amazon staff members have taken a bold step by walking off the job. Their demands? A flexible remote work policy and renewed commitments from the tech giant to achieve zero carbon emissions.

Amazon employees stage walkout for a greener future

Morgan Stanley, in its latest report, hailed the India's Narendra Modi-led government and said that in a short span of 10 years, India had gained positions in the world order with significant positive consequences for the macro and market outlook. The investment advisory firm predicted that India will emerge as a key driver for Asia and drive a fifth of global growth in the next decade.

Morgan Stanley's glowing report on India | World Business Watch

In the hallowed halls of the house of representatives, a crucial battle has been won. A bill to suspend the massive 31.4 trillion dollars debt ceiling has passed the republican-controlled house of representatives. The deeply divided house voted 314 to 117 to clear the bill.

US House passes debt limit bill, soon to reach Senate now

From the ugly duckling of the fashion industry to a Cinderella story for the investors - Crocs. It's now come a long way since it jumped onto the fashion scene. Watch the video to know more.

'Crocstar' of the stock markets: Crocs stock up over 750% in five years

Chairman of the Essel Group Dr Subhash Chandra, in an exclusive interview with Zee Business, stated that the group will soon become debt-free.

The chairman added that the company's aim is to service debt by selling assets, and till now, it has successfully repaid Rs 40,000 crore ($4.8 billion) to the lenders.

"So far, we have paid Rs 50,000 crore ($6 billion) in interest as well," Dr Chandra stated.

He further added that the debt has been repaid by the group by selling some highly valuable assets and that his home has also been mortgaged to repay the debt. Dr Chandra said that they have pledged to repay everyone's debt with humility.

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/brahmos-missile-misfiring-into-pakistan-cost-india-rs-240-million-598251">'BrahMos missile misfiring into Pakistan cost India Rs 240 million'</a>

He further informed that Dish TV is now&nbsp;debt-free and the Zee Enterprises-Sony merger process is also expected to get completed soon.

The chairperson said that he has been mentoring startups these days. Speaking about the ups and downs of life, Dr Chandra said, "A strong person never runs away from the problem but fights it.”

He further added that bad times taught him a lot.

<h2>When did the debt-repayment process begin?</h2>

The chairman of Essel Group, which has finished its 97 years, said that the group started repaying debt in January 2019. "It was our aim to repay all our debts by March 31, 2023; however, it couldn't be executed as the assets couldn't be sold due to some reasons," said Dr Chandra. He, however, added that some assets will be sold, after which the debt will be repaid.

WATCH |&nbsp;India: A truly 'bright spot' in world economy | Business News

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-a-truly-bright-spot-in-world-economy-business-news-598938/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<h2>Dr Subhas Chandra on lenders</h2>

Speaking about some lenders who are creating controversies around debt, Dr Chandra said that Essel Group has received a lot of support from&nbsp;its lenders. In his words, "Lenders know that Essel Group has repaid the debt by selling valuable assets." The chairman further stated that Essel Group has never defaulted from 1967 to 2019.

<main>
<section>
You can&nbsp;now write for&nbsp;wionews.com&nbsp;and be a part of the community. Share your stories and opinions with us&nbsp;<a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>
</section>
</main>

Chairman of the Essel Group Dr Subhash Chandra, in an exclusive interview with Zee Business, stated that the group will soon become debt-free. The chairman added that the company's aim is to service debt by selling assets, and till now, it has successfully repaid Rs 40,000 crore ($4.

Chairman of the Essel Group Dr Subhash Chandra, in an exclusive interview with Zee Business, stated that the group will soon become debt-free. The chairman added that the company's aim is to service debt by selling assets, and till now, it has successfully repaid Rs 40,000 crore ($4.8 billion) to the lenders. "So far, we have paid Rs 50,000 crore ($6 billion) in interest as well," Dr Chandra stated. He further added that the debt has been repaid by the group by selling some highly valuable assets and that his home has also been mortgaged to repay the debt. Dr Chandra said that they have pledged to repay everyone's debt with humility. ALSO READ | 'BrahMos missile misfiring into Pakistan cost India Rs 240 million' He further informed that Dish TV is now debt-free and the Zee Enterprises-Sony merger process is also expected to get completed soon. The chairperson said that he has been mentoring startups these days. Speaking about the ups and downs of life, Dr Chandra said, "A strong person never runs away from the problem but fights it.” He further added that bad times taught him a lot. When did the debt-repayment process begin? The chairman of Essel Group, which has finished its 97 years, said that the group started repaying debt in January 2019. "It was our aim to repay all our debts by March 31, 2023; however, it couldn't be executed as the assets couldn't be sold due to some reasons," said Dr Chandra. He, however, added that some assets will be sold, after which the debt will be repaid. WATCH | India: A truly 'bright spot' in world economy | Business News Dr Subhas Chandra on lenders Speaking about some lenders who are creating controversies around debt, Dr Chandra said that Essel Group has received a lot of support from its lenders. In his words, "Lenders know that Essel Group has repaid the debt by selling valuable assets." The chairman further stated that Essel Group has never defaulted from 1967 to 2019. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Essel Group will be debt-free soon, says Chairman Dr Subhash Chandra

Global mining giant&nbsp;BHP&nbsp;said Thursday it had been underpaying thousands of Australian staff for more than a decade, an error that will cost at least US$280 million to fix.

The company said 28,500 current and former employees were stripped of paid leave they were entitled to.&nbsp;

BHP&nbsp;Australia president Geraldine Slattery said the error would be rectified "as quickly as possible" and "with interest".

The company did not explain how the error occurred.

"We are sorry to all current and former employees impacted by these errors. This is not good enough and falls short of the standards we expect at&nbsp;BHP," Slattery said.

BHP&nbsp;expects to have a fuller estimate of the cost of the error when it reports earnings in August, but it put the initial price tag at "US$280 million pre-tax."

The company's share price fell almost one percent on the news.

BHP&nbsp;is one of the world's largest companies, and a leading producer of metallurgical coal, iron ore, nickel, copper and potash.

Australia has some of the world's strongest labour protections and it is not uncommon for companies to discover problems with past payrolls and be forced to rectify the situation.

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Global mining giant BHP said Thursday it had been underpaying thousands of Australian staff for more than a decade, an error that will cost at least US$280 million to fix.

Global mining giant BHP said Thursday it had been underpaying thousands of Australian staff for more than a decade, an error that will cost at least US$280 million to fix. The company said 28,500 current and former employees were stripped of paid leave they were entitled to. BHP Australia president Geraldine Slattery said the error would be rectified "as quickly as possible" and "with interest". The company did not explain how the error occurred. "We are sorry to all current and former employees impacted by these errors. This is not good enough and falls short of the standards we expect at BHP," Slattery said. BHP expects to have a fuller estimate of the cost of the error when it reports earnings in August, but it put the initial price tag at "US$280 million pre-tax." The company's share price fell almost one percent on the news. BHP is one of the world's largest companies, and a leading producer of metallurgical coal, iron ore, nickel, copper and potash. Australia has some of the world's strongest labour protections and it is not uncommon for companies to discover problems with past payrolls and be forced to rectify the situation. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Mining giant BHP faces $280 million cost for underpaying staff

If you ventured into the world of investments during the pandemic, you were likely enticed by the stock market and crypto buzz. However, many first-time investors, particularly Gen Z, missed out on the opportunity to seize the dazzling rally.

That's because&nbsp;the youngest working generation arrived fashionably late to the party, facing negative returns as the Russia-Ukraine war and supply chain disruptions dampened risk sentiment.&nbsp;

Understandably, these investors hesitated to dive back into the market. The crypto crash hit even harder, leading most Gen Z investors -- a&nbsp;group of people born between the late 1990s and the early 2010s -- to turn to a timeless gem: gold.&nbsp;

This timeless jewel, renowned for its resilience against inflation, continues to captivate investors.&nbsp;

Gold has surged nearly 20 percent&nbsp;in the past year, outshining inflation and other mainstream assets. In contrast, the S&amp;P 500 -- an index tracking the stock performance of 500 of the largest companies&nbsp;in the United States -- only managed a modest 2 percent&nbsp;uptick during the same period.

While seasoned investors stress on long-term stock strategies, many individuals hesitate to hold onto digital assets locked away in wallets, especially if their performance falters. But gold, in jewelry form, holds a sentimental value that encourages investors to stay the course and enjoy appreciation.&nbsp;

With the rise in popularity of rose and white gold, this radiant metal has gained broader appeal, catering to diverse tastes.

While gold is currently in the spotlight, it has historically underperformed equities in the long run.&nbsp;

So, investors looking for the Midas touch could add a touch of glamour through gold and a bit of sophistication through equities to craft a precious fortune.

If you ventured into the world of investments during the pandemic, you were likely enticed by the stock market and crypto buzz. However, many first-time investors, particularly Gen Z, missed out on the opportunity to seize the dazzling rally.

If you ventured into the world of investments during the pandemic, you were likely enticed by the stock market and crypto buzz. However, many first-time investors, particularly Gen Z, missed out on the opportunity to seize the dazzling rally. That's because the youngest working generation arrived fashionably late to the party, facing negative returns as the Russia-Ukraine war and supply chain disruptions dampened risk sentiment. Understandably, these investors hesitated to dive back into the market. The crypto crash hit even harder, leading most Gen Z investors -- a group of people born between the late 1990s and the early 2010s -- to turn to a timeless gem: gold. This timeless jewel, renowned for its resilience against inflation, continues to captivate investors. Gold has surged nearly 20 percent in the past year, outshining inflation and other mainstream assets. In contrast, the S&P 500 -- an index tracking the stock performance of 500 of the largest companies in the United States -- only managed a modest 2 percent uptick during the same period. While seasoned investors stress on long-term stock strategies, many individuals hesitate to hold onto digital assets locked away in wallets, especially if their performance falters. But gold, in jewelry form, holds a sentimental value that encourages investors to stay the course and enjoy appreciation. With the rise in popularity of rose and white gold, this radiant metal has gained broader appeal, catering to diverse tastes. While gold is currently in the spotlight, it has historically underperformed equities in the long run. So, investors looking for the Midas touch could add a touch of glamour through gold and a bit of sophistication through equities to craft a precious fortune.

Gold rush: How the precious metal is beating S&P 500 returns

Indian billionaire Gautam Adani's conglomerate, the Adani Group, is embarking on an audacious comeback strategy following a challenging period prompted by a scathing report from a US short seller.

The group plans to raise approximately $3.5 billion through an equity share sale to institutional investors, as per a PTI report. The funds raised will be allocated towards the group's capital expenditure requirements. With boards of two flagship firms --&nbsp;Adani Enterprises Ltd and Adani Transmission Ltd -- already approving share sales, Adani Green Energy Ltd is expected to follow suit.&nbsp;

Adani Enterprises Ltd and Adani Transmission Ltd have already received board approvals for raising up to Rs 21,000 crore (over $2.5 billion) through share sales to qualified institutional investors. Furthermore, the Adani Green Energy Ltd board will likely approve a fundraising plan of up to $1 billion in the coming weeks, media reports said.

The fundraising process&nbsp;is expected to conclude within the second quarter of the current fiscal year -- July to September 2023. Investors from Europe and the Middle East have displayed strong interest, while both existing and new investors are anticipated to participate.

GQG Partners, a prominent investor that injected $1.87 billion into four Adani group companies in March, is expected to remain engaged in the conglomerate's growth story. The group's recent roadshows abroad, targeting a diverse range of financial institutions and investors, have played a pivotal role in solidifying this investor trust.

The decision to raise funds follows Adani Enterprises' decision to cancel a Rs 20,000 crore follow-on public offering (FPO) three months ago, triggered by the Hindenburg report.

The US short-seller, Hindenburg Research, had alleged accounting fraud and stock price manipulation within the Adani Group, leading to a significant decline in the conglomerate's market value.

Adani Group has categorically denied all allegations and has since embarked on a comprehensive recovery strategy. To reassure investors, the group has realigned its ambitions and repaid substantial amounts of debt. Additionally, Adani promoters successfully sold stakes worth Rs 15,446 crore to GQG Partners, further bolstering market confidence.

The Adani Group's latest fundraising endeavor represents the largest borrowing since the release of the Hindenburg report. By securing substantial funds, the conglomerate aims to fuel its expansion projects&nbsp;and reinforcing its position as a leading player in sectors ranging from ports to energy.&nbsp;

Indian billionaire Gautam Adani's conglomerate, the Adani Group, is embarking on an audacious comeback strategy following a challenging period prompted by a scathing report from a US short seller.

Indian billionaire Gautam Adani's conglomerate, the Adani Group, is embarking on an audacious comeback strategy following a challenging period prompted by a scathing report from a US short seller. The group plans to raise approximately $3.5 billion through an equity share sale to institutional investors, as per a PTI report. The funds raised will be allocated towards the group's capital expenditure requirements. With boards of two flagship firms -- Adani Enterprises Ltd and Adani Transmission Ltd -- already approving share sales, Adani Green Energy Ltd is expected to follow suit. Adani Enterprises Ltd and Adani Transmission Ltd have already received board approvals for raising up to Rs 21,000 crore (over $2.5 billion) through share sales to qualified institutional investors. Furthermore, the Adani Green Energy Ltd board will likely approve a fundraising plan of up to $1 billion in the coming weeks, media reports said. The fundraising process is expected to conclude within the second quarter of the current fiscal year -- July to September 2023. Investors from Europe and the Middle East have displayed strong interest, while both existing and new investors are anticipated to participate. GQG Partners, a prominent investor that injected $1.87 billion into four Adani group companies in March, is expected to remain engaged in the conglomerate's growth story. The group's recent roadshows abroad, targeting a diverse range of financial institutions and investors, have played a pivotal role in solidifying this investor trust. The decision to raise funds follows Adani Enterprises' decision to cancel a Rs 20,000 crore follow-on public offering (FPO) three months ago, triggered by the Hindenburg report. The US short-seller, Hindenburg Research, had alleged accounting fraud and stock price manipulation within the Adani Group, leading to a significant decline in the conglomerate's market value. Adani Group has categorically denied all allegations and has since embarked on a comprehensive recovery strategy. To reassure investors, the group has realigned its ambitions and repaid substantial amounts of debt. Additionally, Adani promoters successfully sold stakes worth Rs 15,446 crore to GQG Partners, further bolstering market confidence. The Adani Group's latest fundraising endeavor represents the largest borrowing since the release of the Hindenburg report. By securing substantial funds, the conglomerate aims to fuel its expansion projects and reinforcing its position as a leading player in sectors ranging from ports to energy.

After Hindenburg row, Adani Group seeks $3 billion share sale