Just days ahead of its first-quarter results, trouble seems to be brewing for Elon Musk-owned car maker&nbsp;Tesla in China.&nbsp;

Several workers at the Tesla's Shanghai factory are taking to social media to appeal to Elon Musk after they were informed about plans to cut their performance bonuses, a Reuters report has said.&nbsp;

On Chinese internet platform Baidu, several workers questioned whether the plan to cut their performance bonuses was linked to a fatal accident in the factory in February this year.&nbsp;

Several online posts claimed workers at the Shanghai plant were being unfairly punished for the accident in which one worker died, with some workers alleging that their quarterly bonuses were cut by around 2,000 yuan.&nbsp;

Some workers also logged on to Twitter, owned by Musk but banned in China, to express their grievances. "Please pay attention to the performance (bonus) of frontline workers at Tesla's Shanghai factory being arbitrarily deducted," Reuters quoted a person with the handle @AFeiywu on Twitter.&nbsp;

According to media reports, the online posts are a rare outburst of discontent at Tesla's Shanghai plant. Last year, Musk had praised the factory workers&nbsp;for running the&nbsp;operations&nbsp;during Shanghai's two-month Covid-19 lockdown.&nbsp;

The Shanghai factory, which began operations in late 2019, is the Tesla’s largest manufacturing hub. The plant employs some 20,000 workers and accounted for more than half of Tesla’s global output in 2022. China is Tesla’s second-largest market after the United States by volume.&nbsp;

Just days ahead of its first-quarter results, trouble seems to be brewing for Elon Musk-owned car maker Tesla in China. Several workers at the Tesla's Shanghai factory are taking to social media to appeal to Elon Musk after they were informed about plans to cut their performance bonuses, a Reuters report has said.

Just days ahead of its first-quarter results, trouble seems to be brewing for Elon Musk-owned car maker Tesla in China. Several workers at the Tesla's Shanghai factory are taking to social media to appeal to Elon Musk after they were informed about plans to cut their performance bonuses, a Reuters report has said. On Chinese internet platform Baidu, several workers questioned whether the plan to cut their performance bonuses was linked to a fatal accident in the factory in February this year. Several online posts claimed workers at the Shanghai plant were being unfairly punished for the accident in which one worker died, with some workers alleging that their quarterly bonuses were cut by around 2,000 yuan. Some workers also logged on to Twitter, owned by Musk but banned in China, to express their grievances. "Please pay attention to the performance (bonus) of frontline workers at Tesla's Shanghai factory being arbitrarily deducted," Reuters quoted a person with the handle @AFeiywu on Twitter. According to media reports, the online posts are a rare outburst of discontent at Tesla's Shanghai plant. Last year, Musk had praised the factory workers for running the operations during Shanghai's two-month Covid-19 lockdown. The Shanghai factory, which began operations in late 2019, is the Tesla’s largest manufacturing hub. The plant employs some 20,000 workers and accounted for more than half of Tesla’s global output in 2022. China is Tesla’s second-largest market after the United States by volume.

Tesla workers in Shanghai appeal to Elon Musk over bonus cuts

The United States has edged out China to become India's biggest trading partner in 2022-23, provisional data from India's Commerce Ministry has said. Trade between the two countries rose from from $119.5 billion in 2021-22 to $128.55 billion in the last fiscal&nbsp;which ended in March 2023.&nbsp;

Trade between the two countries has skyrocketed since 2020, when the Covid pandemic led to major global economic disruptions. In 2020-21, India-US trade stood at $80.51 billion, which rose by over 37 percent to $128.55 billion in 2022-23.&nbsp;

India's exports grew by 2.81 percent to reach $78.31 billion in 2022-23, while imports soared by nearly 16 percent to $50.24 billion in the same period. The trade surplus came to over $28 billion in the last fiscal.&nbsp;

The booming trade with the United States is good news for India. United States is one of the few countries with which India enjoys a trade surplus. This means India exports more than it imports from the United States. So, trading with the United States helps India improve its foreign exchange reserves.&nbsp;

Trade deficit widens with China&nbsp;

While China has been one of the top trading partners, India's deficit has widened over the years.&nbsp;

Exports to China dipped by about 28 percent to $15.32 billion in 2022-23, while imports rose by 4.16 percent to $98.51 billion in the last fiscal.&nbsp;

Between April 2022 and March 2023, India's trade with China declined 1.5 percent to reach $113.83 billion. But the trade deficit widened from $72.91 billion dollars in 2021-22 to $83.2 billion in the last fiscal.&nbsp;

A trade deficit is said to happen when a country's imports are higher than its exports. Trade deficit puts a strain on a country's foreign exchange and contributes to the balance of payments problem.&nbsp;

The United States has edged out China to become India's biggest trading partner in 2022-23, provisional data from India's Commerce Ministry has said. Trade between the two countries rose from from $119.

The United States has edged out China to become India's biggest trading partner in 2022-23, provisional data from India's Commerce Ministry has said. Trade between the two countries rose from from $119.5 billion in 2021-22 to $128.55 billion in the last fiscal which ended in March 2023. Trade between the two countries has skyrocketed since 2020, when the Covid pandemic led to major global economic disruptions. In 2020-21, India-US trade stood at $80.51 billion, which rose by over 37 percent to $128.55 billion in 2022-23. India's exports grew by 2.81 percent to reach $78.31 billion in 2022-23, while imports soared by nearly 16 percent to $50.24 billion in the same period. The trade surplus came to over $28 billion in the last fiscal. The booming trade with the United States is good news for India. United States is one of the few countries with which India enjoys a trade surplus. This means India exports more than it imports from the United States. So, trading with the United States helps India improve its foreign exchange reserves. Trade deficit widens with China While China has been one of the top trading partners, India's deficit has widened over the years. Exports to China dipped by about 28 percent to $15.32 billion in 2022-23, while imports rose by 4.16 percent to $98.51 billion in the last fiscal. Between April 2022 and March 2023, India's trade with China declined 1.5 percent to reach $113.83 billion. But the trade deficit widened from $72.91 billion dollars in 2021-22 to $83.2 billion in the last fiscal. A trade deficit is said to happen when a country's imports are higher than its exports. Trade deficit puts a strain on a country's foreign exchange and contributes to the balance of payments problem.

US pips China to become India's top trade partner

In Argentina, the annual inflation rate has soared to a high of 104.3 per cent. The astounding high was revealed by the nation's official statistics agency on Friday. Reuters reports that this is one of the highest inflation rates in the world.&nbsp;Argentina's soaring prices have badly dented people's salaries and have pushed up poverty in the nation to 40 per cent.

Argentina, which is one of the world's major grain exporters, is currently grappling with one of the worst droughts in its history. The dry season has reportedly "hammered" soy, corn and wheat crops, and lost exports and falling domestic prices have knocked billions off the country's economy.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/uber-accused-of-charging-people-higher-prices-when-their-phone-battery-is-low-report-582509">Uber accused of charging customers more when their phone battery is low: Report</a>

"The number we see today represents the worst moment of the impact of the war on international prices and the worst drought in history in our country," said presidential spokeswoman Gabriela Cerruti on Twitter.

"We know, it hurts us, it occupies us, how this affects daily life and every family," she said adding that the government is "redoubling" its efforts and that they hoped a downward trend in inflation would be "reflected soon."

"In my case, I have zero capacity to save," said Claudia Hernansaez, a publishing company employee while talking to Reuters.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/pakistan-gets-a-step-closer-to-getting-imf-bailout-after-uae-saudi-arabia-pledge-billions-in-assistance-582451">Pakistan a step closer to getting IMF bailout after UAE, Saudi Arabia pledge billions in assistance</a>

The inflation rate for the month registered at 7.7 per cent, significantly exceeding the 7.1 per cent that analysts had anticipated, and making it the highest monthly growth since 2002. This puts additional strain on the government, which is confronted with agitated citizens prior to the October elections.

The inflationary crisis is Argentina's worst since 1991, a year that as per Reuters marked the end of a period of hyperinflation. With the increase in inflation, approval ratings for the nation's President Alberto Fernandez have taken hits and are currently hovering just above 20 per cent. Inflation is expected to be one of the deciding issues for voters in the upcoming October elections.

(With inputs from agencies) 
 
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In Argentina, the annual inflation rate has soared to a high of 104.3 per cent. The astounding high was revealed by the nation's official statistics agency on Friday.

In Argentina, the annual inflation rate has soared to a high of 104.3 per cent. The astounding high was revealed by the nation's official statistics agency on Friday. Reuters reports that this is one of the highest inflation rates in the world. Argentina's soaring prices have badly dented people's salaries and have pushed up poverty in the nation to 40 per cent. Argentina, which is one of the world's major grain exporters, is currently grappling with one of the worst droughts in its history. The dry season has reportedly "hammered" soy, corn and wheat crops, and lost exports and falling domestic prices have knocked billions off the country's economy. Also read | Uber accused of charging customers more when their phone battery is low: Report "The number we see today represents the worst moment of the impact of the war on international prices and the worst drought in history in our country," said presidential spokeswoman Gabriela Cerruti on Twitter. "We know, it hurts us, it occupies us, how this affects daily life and every family," she said adding that the government is "redoubling" its efforts and that they hoped a downward trend in inflation would be "reflected soon." "In my case, I have zero capacity to save," said Claudia Hernansaez, a publishing company employee while talking to Reuters. Also read | Pakistan a step closer to getting IMF bailout after UAE, Saudi Arabia pledge billions in assistance The inflation rate for the month registered at 7.7 per cent, significantly exceeding the 7.1 per cent that analysts had anticipated, and making it the highest monthly growth since 2002. This puts additional strain on the government, which is confronted with agitated citizens prior to the October elections. The inflationary crisis is Argentina's worst since 1991, a year that as per Reuters marked the end of a period of hyperinflation. With the increase in inflation, approval ratings for the nation's President Alberto Fernandez have taken hits and are currently hovering just above 20 per cent. Inflation is expected to be one of the deciding issues for voters in the upcoming October elections. (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.

Argentina annual inflation over 104%, poverty up by 40%, people report ‘zero capacity to save’

Kristalina Georgieva,&nbsp;the International Monetary Fund's managing director said on Thursday that countries must do more to avert the costly consequences of growing global trade fragmentation and help avert a "second Cold War."

Georgieva's comments came&nbsp;during a press conference at the official start of the World Bank and IMF's spring meetings.

"I don't want to see that repeating," she said, adding that the world should "rationally accept there will be some cost, there will be some fragmentation, but keep these costs low."

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/brics-common-currency-soon-india-china-step-up-to-counter-us-dollars-dominance-578660">BRICS common currency soon? India, China step up to counter US dollar's dominance</a>

She said that multilateral institutions like the World Bank and IMF have an important role to play in preventing the world from dividing&nbsp;into different blocs with severe economic consequences.

An IMF report earlier this week predicted that growing trade fragmentation resulting from events like Brexit, the US-China trade war and the Russa-Ukraine war could make the global economy as much as seven per cent smaller than it otherwise would have been.

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/brazils-president-lula-assents-to-common-brics-currency-to-counter-us-dollars-dominance-582289">Brazil's President Lula assents to common BRICS currency to counter US dollar's dominance</a>

Policymakers had a crucial role to play to "defend the interests" of their citizens, Georgieva said.

"If we fail to be more rational, then people everywhere will be worse off," she said. &nbsp;

Meanwhile, the French President Emmanuel Macron will host a summit in June which will deliberate upon building a "new financial framework," the country's finance minister, Bruno Le Maire, told reporters at the IMF early Thursday.

The Bank's outgoing president, David Malpass, said earlier that progress has been made on a number of key issues for the World Bank and IMF.&nbsp;

ALSO WATCH |&nbsp;Gravitas: China, Russia ditch dollar for gas trade

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Member states agreed on several steps to boost the World Bank's financial capacity, he said, freeing it up to lend "as much as $50 billion of new financing" over the next decade.

Progress was also made during a debt roundtable discussion on Wednesday, Malpass said. For the first time, these talks included not only creditor countries but also the private sector, and representatives from Zambia, Ghana, Ethiopia and Sri Lanka, which are all facing debt challenges.

India currently holds the presidency of the G-20 group of countries, and co-chaired Wednesday's meeting. Indian Finance Minister Nirmala Sitharaman said Thursday that she expected a resolution for "many" debtor countries "at the earliest" opportunity.

(With inputs from agencies)

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Kristalina Georgieva, the International Monetary Fund's managing director said on Thursday that countries must do more to avert the costly consequences of growing global trade fragmentation and help avert a "second Cold War.

Kristalina Georgieva, the International Monetary Fund's managing director said on Thursday that countries must do more to avert the costly consequences of growing global trade fragmentation and help avert a "second Cold War." Georgieva's comments came during a press conference at the official start of the World Bank and IMF's spring meetings. "I don't want to see that repeating," she said, adding that the world should "rationally accept there will be some cost, there will be some fragmentation, but keep these costs low." ALSO READ | BRICS common currency soon? India, China step up to counter US dollar's dominance She said that multilateral institutions like the World Bank and IMF have an important role to play in preventing the world from dividing into different blocs with severe economic consequences. An IMF report earlier this week predicted that growing trade fragmentation resulting from events like Brexit, the US-China trade war and the Russa-Ukraine war could make the global economy as much as seven per cent smaller than it otherwise would have been. ALSO READ | Brazil's President Lula assents to common BRICS currency to counter US dollar's dominance Policymakers had a crucial role to play to "defend the interests" of their citizens, Georgieva said. "If we fail to be more rational, then people everywhere will be worse off," she said. Meanwhile, the French President Emmanuel Macron will host a summit in June which will deliberate upon building a "new financial framework," the country's finance minister, Bruno Le Maire, told reporters at the IMF early Thursday. The Bank's outgoing president, David Malpass, said earlier that progress has been made on a number of key issues for the World Bank and IMF. ALSO WATCH | Gravitas: China, Russia ditch dollar for gas trade × Member states agreed on several steps to boost the World Bank's financial capacity, he said, freeing it up to lend "as much as $50 billion of new financing" over the next decade. Progress was also made during a debt roundtable discussion on Wednesday, Malpass said. For the first time, these talks included not only creditor countries but also the private sector, and representatives from Zambia, Ghana, Ethiopia and Sri Lanka, which are all facing debt challenges. India currently holds the presidency of the G-20 group of countries, and co-chaired Wednesday's meeting. Indian Finance Minister Nirmala Sitharaman said Thursday that she expected a resolution for "many" debtor countries "at the earliest" opportunity. (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.

IMF chief warns against 'second cold war' amid BRICS' challenge to USD, China-US trade tensions

Brazil's President Luiz Inácio Lula da Silva made an impassioned call to his BRICS counterparts Russia, India, China and South Africa to replace the US dollar with their own currencies for trading among the countries. Lula's comments come amid efforts by India, China and Russia to set up streams for trade in their own currencies and expanding calls amongst BRICS nations to launch a potential common currency mechanism for trade.&nbsp;

The BRICS bloc has a combined GDP that's slightly more than that of the US. The five major economies constitute 41 per cent of world population, 24 per cent of the world GDP and 16 per cent of global trade flows.

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/brics-common-currency-soon-india-china-step-up-to-counter-us-dollars-dominance-578660">BRICS common currency soon? India, China step up to counter US dollar's dominance</a>

"Every night I ask myself why all countries have to base their trade on the dollar," Lula said at the New Development Bank in Shanghai, also called the BRICS bank.&nbsp;

"Why can't we do trade based on our own currencies," he added. A crowd of Brazilian and Chinese dignitaries applauded the Brazilian president's call in Shanghai on Thursday (April 13).

"Who decided that our currencies were weak, that they didn't have value in other countries?," Lula asked.&nbsp;

"Why can't a bank like that of the BRICS have a currency to finance trade relations between Brazil and China, between Brazil and other countries? It's difficult because we are unaccustomed [to the idea]. Everyone depends on just one currency," Lula said, adding Brazil's voice to calls for a common BRICS currency.

WION first reported on April 3, that as India and China step up to counter US dollar's dominance, <a href="https://www.wionews.com/business-economy/brics-common-currency-soon-india-china-step-up-to-counter-us-dollars-dominance-578660">a common BRICS currency</a> for trade between the countries forming the bloc may very well be on the way. Lula's comments add another note of consensus among&nbsp;the BRICS nations towards a common currency to counter the dominance of the US dollar.&nbsp;

At the forthcoming BRICS summit in South Africa, a new financial arrangement, seen with a potential to translate into a common BRICS currency, is expected to be announced.&nbsp;

<h2>BRICS common currency: Why calls for de-dollarisation?</h2>

According to Switzerland-based Bank for International Settlements, approximately half of global trade is invoiced in US dollars despite the United States accounting for just over a tenth of global trade.&nbsp;

ALSO WATCH |&nbsp;Brazil and Argentina's initiave for common currency receives push from Venezuela

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The greenback’s dominance in global trade means the burden of dollar-denominated debt for other nations rises and falls with the exchange rate. This destabilises the economies of the countries with US monetary policy often playing a defining role than its own domestic decisions. At the same time, the economic culture in the United States of imposing financial sanctions on countries Washington deems unfriendly, is often seen as a source of economic instability.&nbsp;

Apart from Russia and its ruble, countries in the developing world, therefore, spearheaded by China and India, are ramping up efforts to respectively set up trade streams based on Chinese renminbi and Indian rupee respectively. Brazil, Russia, India, China and South Africa, banded together in BRICS, will meet in South Africa in August 2023 where de-dollarisation is expected to lead the agenda of the bloc.&nbsp;

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Brazil's President Luiz Inácio Lula da Silva made an impassioned call to his BRICS counterparts Russia, India, China and South Africa to replace the US dollar with their own currencies for trading among the countries.

Brazil's President Luiz Inácio Lula da Silva made an impassioned call to his BRICS counterparts Russia, India, China and South Africa to replace the US dollar with their own currencies for trading among the countries. Lula's comments come amid efforts by India, China and Russia to set up streams for trade in their own currencies and expanding calls amongst BRICS nations to launch a potential common currency mechanism for trade. The BRICS bloc has a combined GDP that's slightly more than that of the US. The five major economies constitute 41 per cent of world population, 24 per cent of the world GDP and 16 per cent of global trade flows. ALSO READ | BRICS common currency soon? India, China step up to counter US dollar's dominance "Every night I ask myself why all countries have to base their trade on the dollar," Lula said at the New Development Bank in Shanghai, also called the BRICS bank. "Why can't we do trade based on our own currencies," he added. A crowd of Brazilian and Chinese dignitaries applauded the Brazilian president's call in Shanghai on Thursday (April 13). "Who decided that our currencies were weak, that they didn't have value in other countries?," Lula asked. "Why can't a bank like that of the BRICS have a currency to finance trade relations between Brazil and China, between Brazil and other countries? It's difficult because we are unaccustomed [to the idea]. Everyone depends on just one currency," Lula said, adding Brazil's voice to calls for a common BRICS currency. WION first reported on April 3, that as India and China step up to counter US dollar's dominance, a common BRICS currency for trade between the countries forming the bloc may very well be on the way. Lula's comments add another note of consensus among the BRICS nations towards a common currency to counter the dominance of the US dollar. At the forthcoming BRICS summit in South Africa, a new financial arrangement, seen with a potential to translate into a common BRICS currency, is expected to be announced. BRICS common currency: Why calls for de-dollarisation? According to Switzerland-based Bank for International Settlements, approximately half of global trade is invoiced in US dollars despite the United States accounting for just over a tenth of global trade. ALSO WATCH | Brazil and Argentina's initiave for common currency receives push from Venezuela × The greenback’s dominance in global trade means the burden of dollar-denominated debt for other nations rises and falls with the exchange rate. This destabilises the economies of the countries with US monetary policy often playing a defining role than its own domestic decisions. At the same time, the economic culture in the United States of imposing financial sanctions on countries Washington deems unfriendly, is often seen as a source of economic instability. Apart from Russia and its ruble, countries in the developing world, therefore, spearheaded by China and India, are ramping up efforts to respectively set up trade streams based on Chinese renminbi and Indian rupee respectively. Brazil, Russia, India, China and South Africa, banded together in BRICS, will meet in South Africa in August 2023 where de-dollarisation is expected to lead the agenda of the bloc. 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.

Brazil's President Lula seeks common BRICS currency to counter US dollar's dominance

The United Arab Emirates (UAE) has confirmed that it would provide a $1 billion loan to Islamabad, said Pakistan Finance Minister Ishaq Dar, on Friday (April 14),&nbsp;getting the cash-strapped country one step closer to receiving the long-awaited bailout tranche from the International Monetary Fund (IMF). This comes a week after Pakistan had said that Saudi Arabia had assured that it would provide a $2 billion loan after the Washington-based lender had asked Islamabad to get financing assurances before a loan can be disbursed.

Referring to the country’s central bank, Dar took to Twitter and wrote, “The State Bank of Pakistan is now engaged for needful documentation for taking the said deposit from UAE authorities.” The commitment by UAE is one of the last requirements of the IMF before it would release a tranche of $1.1 billion which is crucial for&nbsp;Pakistan’s acute balance of payments crisis.

Pakistan is facing soaring inflation at 35.37 per cent, the highest in over five decades, while prices of essential food items such as wheat flour, sugar, and edible oil rose significantly. This also comes nearly a week after a United States-based think tank released a report which said that Pakistan owes around $77 billion to several public and private entities in China, Saudi Arabia, and UAE.&nbsp;

The recent announcement makes UAE the third country after Saudi Arabia and China to have come to Pakistan’s assistance amid the country’s need for external financing to bridge the balance of payments gap for this fiscal year which ends in June. According to reports, Pakistan has less than a month’s worth of foreign exchange reserves.&nbsp;

As of December 2022, Islamabad also holds external debt and liabilities of $126.3 billion, at least 77 per cent of this debt, which amounts to around $97.5 billion, is directly owed by Pakistan’s government to various creditors, said a report by Washington-based think tank, United States Institute of Peace (USIP), earlier this month.&nbsp;

Speaking about Pakistan’s bailout, IMF managing director Kristalina Georgieva, on Thursday, said, “My hope is that with the goodwill of everyone, and the implementation of what has been already agreed by the Pakistan authorities, we can complete our current programme successfully.” She added that they are also in talks with friendly countries of Pakistan to provide financial assurances so it can complete the programme. &nbsp;&nbsp; &nbsp;&nbsp;

(With inputs from agencies)&nbsp; 
 
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The United Arab Emirates (UAE) has confirmed that it would provide a $1 billion loan to Islamabad, said Pakistan Finance Minister Ishaq Dar, on Friday (April 14), getting the cash-strapped country one step closer to receiving the long-awaited bailout tranche from the International Monetary Fund (IMF).

The United Arab Emirates (UAE) has confirmed that it would provide a $1 billion loan to Islamabad, said Pakistan Finance Minister Ishaq Dar, on Friday (April 14), getting the cash-strapped country one step closer to receiving the long-awaited bailout tranche from the International Monetary Fund (IMF). This comes a week after Pakistan had said that Saudi Arabia had assured that it would provide a $2 billion loan after the Washington-based lender had asked Islamabad to get financing assurances before a loan can be disbursed. Referring to the country’s central bank, Dar took to Twitter and wrote, “The State Bank of Pakistan is now engaged for needful documentation for taking the said deposit from UAE authorities.” The commitment by UAE is one of the last requirements of the IMF before it would release a tranche of $1.1 billion which is crucial for Pakistan’s acute balance of payments crisis. Pakistan is facing soaring inflation at 35.37 per cent, the highest in over five decades, while prices of essential food items such as wheat flour, sugar, and edible oil rose significantly. This also comes nearly a week after a United States-based think tank released a report which said that Pakistan owes around $77 billion to several public and private entities in China, Saudi Arabia, and UAE. The recent announcement makes UAE the third country after Saudi Arabia and China to have come to Pakistan’s assistance amid the country’s need for external financing to bridge the balance of payments gap for this fiscal year which ends in June. According to reports, Pakistan has less than a month’s worth of foreign exchange reserves. As of December 2022, Islamabad also holds external debt and liabilities of $126.3 billion, at least 77 per cent of this debt, which amounts to around $97.5 billion, is directly owed by Pakistan’s government to various creditors, said a report by Washington-based think tank, United States Institute of Peace (USIP), earlier this month. Speaking about Pakistan’s bailout, IMF managing director Kristalina Georgieva, on Thursday, said, “My hope is that with the goodwill of everyone, and the implementation of what has been already agreed by the Pakistan authorities, we can complete our current programme successfully.” She added that they are also in talks with friendly countries of Pakistan to provide financial assurances so it can complete the programme. (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.

Pakistan a step closer to getting IMF bailout after UAE, Saudi Arabia pledge billions in assistance

The price of crude oil dropped by more than $1 a barrel as traders booked profits after benchmarks reached multi-month highs the previous session and an OPEC report fueled concerns about summer demand. Only the second time this month did the global benchmark Brent crude finish lower, down $1.24 or 1.4% to settle at $86.09 per barrel. US West Texas Intermediate (WTI) prices fell $1.10, or 1.3%, to $82.16 per barrel at the market close.

Crude oil prices decline 1% after scaling multi-month highs

House Speaker Kevin McCarthy is prepared to announce a plan the following week that would extend the country's debt ceiling for a year in exchange for expenditure cuts. According to two persons who requested to remain anonymous, the plan calls for a vote in the House in late May to extend the debt ceiling until around May 2024. This would serve as the starting point for negotiations with the White House and congressional Democrats.

GOP vs Biden: GOP bill seeks to suspend ceiling until May 2024

Russian oil exports reached their highest level in nearly three years, despite sanctions from the West, said the International Energy Agency (IEA), on Friday (April 14). However, Moscow's oil revenues have dropped sharply from last year, it added. Since the Russian invasion of Ukraine over a year ago, there have been thousands of sanctions against Russia including price caps on its exports and EU embargoes.

According to the IEA’s monthly oil market report, total shipments from Russia rose by 600,000 barrels per day to 8.1 million bpd last month, which is the highest since April 2020. However, while Moscow’s oil revenues rebounded by $1 billion to $12.7 billion, they were&nbsp;still nearly 43 per cent lower when compared to a year ago, said the Paris-based agency.&nbsp;

In March, Russian crude oil exports rose by 100,000 bpd to 5 million bpd with India effectively replacing China as Moscow’s main market in Asia, last month. Additionally, the IEA also said that the oil product shipments destined for the EU almost doubled between February and March to 300,000 bpd.

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/opec-agrees-to-cut-production-for-first-time-in-a-year-after-oil-price-slump-513187">OPEC to cut production by 100,000 barrels per day after oil price slump</a>

Months after the Russian invasion of Ukraine, the EU imposed an embargo on seaborne oil deliveries from Moscow in December along with a $60 per barrel price cap for exports across the world, the move which was agreed to by the Group of Seven (G7) nations and Australia.

Earlier this year, the EU expanded its ban on Russian oil and agreed with the G7 to the price ceilings of $100 per barrel for more expensive fuel like diesel and $45 on lower-quality products such as fuel oil.&nbsp;

Seemingly, in retaliation, Russia announced that it would be reducing its production by 500,000 bpd along with other OPEC+ member nations which sent shockwaves across the market.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/saudi-arabia-opec-members-announce-oil-production-cuts-by-over-a-million-bpd-578386">Saudi Arabia, OPEC+ members announce oil production cuts by over a million bpd</a>

According to the IEA, Russia missed its target in March as production fell by 290,000 bpd. “Consumers currently under siege from inflation will suffer even more from higher prices, especially in emerging and developing economies,” said the Paris-based agency. It added, “This augurs badly for the economic recovery and growth.”&nbsp;

The announcement, which cuts a total of 1.7 million bpd was also months after the group had agreed to a reduction of two million bpd back in November. The exports by Russia also returned pre-Covid levels as they have risen by 450,000 bpd to 3.1 million bpd.

(With inputs from agencies)&nbsp; 
 
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Russian oil exports reached their highest level in nearly three years, despite sanctions from the West, said the International Energy Agency (IEA), on Friday (April 14).

Russian oil exports reached their highest level in nearly three years, despite sanctions from the West, said the International Energy Agency (IEA), on Friday (April 14). However, Moscow's oil revenues have dropped sharply from last year, it added. Since the Russian invasion of Ukraine over a year ago, there have been thousands of sanctions against Russia including price caps on its exports and EU embargoes. According to the IEA’s monthly oil market report, total shipments from Russia rose by 600,000 barrels per day to 8.1 million bpd last month, which is the highest since April 2020. However, while Moscow’s oil revenues rebounded by $1 billion to $12.7 billion, they were still nearly 43 per cent lower when compared to a year ago, said the Paris-based agency. In March, Russian crude oil exports rose by 100,000 bpd to 5 million bpd with India effectively replacing China as Moscow’s main market in Asia, last month. Additionally, the IEA also said that the oil product shipments destined for the EU almost doubled between February and March to 300,000 bpd. ALSO READ | OPEC to cut production by 100,000 barrels per day after oil price slump Months after the Russian invasion of Ukraine, the EU imposed an embargo on seaborne oil deliveries from Moscow in December along with a $60 per barrel price cap for exports across the world, the move which was agreed to by the Group of Seven (G7) nations and Australia. Earlier this year, the EU expanded its ban on Russian oil and agreed with the G7 to the price ceilings of $100 per barrel for more expensive fuel like diesel and $45 on lower-quality products such as fuel oil. Seemingly, in retaliation, Russia announced that it would be reducing its production by 500,000 bpd along with other OPEC+ member nations which sent shockwaves across the market. ALSO READ | Saudi Arabia, OPEC+ members announce oil production cuts by over a million bpd According to the IEA, Russia missed its target in March as production fell by 290,000 bpd. “Consumers currently under siege from inflation will suffer even more from higher prices, especially in emerging and developing economies,” said the Paris-based agency. It added, “This augurs badly for the economic recovery and growth.” The announcement, which cuts a total of 1.7 million bpd was also months after the group had agreed to a reduction of two million bpd back in November. The exports by Russia also returned pre-Covid levels as they have risen by 450,000 bpd to 3.1 million bpd. (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.

Russia’s oil exports hit a three-year high in March despite Western sanctions

Oil giant ExxonMobil has given a massive pay hike of 52 per cent to its CEO Darren Woods after the company reported its highest ever profits amid Russian invasion of Ukraine. Woods pay figure now comes to USD 35.9 million. ExxonMobil said that the mega hike was &nbsp;“reflective of record company earnings and stock price performance”.

Earlier this year, ExxonMobil reported annual profit of USD 55.7 billion for the year 2022.

In the fourth quarter, profits rose 43.7 percent to $12.8 billion, thanks to higher oil and natural gas prices and better refining margins compared with the year-ago period.

Revenues from October through December rose 12.3 percent to $95.4 billion.

The results reflect slightly higher production of oil and natural gas in 2022

In 2020, ExxonMobil was kicked out of the Dow index while its stock languished during the coronavirus crisis, which dented petroleum demand. At the time, the company was criticized for taking on more debt than rivals.

The huge profits by oil companies have sparked pushback from governments. In December, ExxonMobil sued to challenge a new windfall tax policy in Europe.

ExxonMobil, along with rival Chevron, has also sparred with US President Joe Biden, who has bashed the energy giants for buying back shares instead of putting extra funds into new oil and gas investments.

(With inputs from agencies)

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Oil giant ExxonMobil has given a massive pay hike of 52 per cent to its CEO Darren Woods after the company reported its highest ever profits amid Russian invasion of Ukraine.

Oil giant ExxonMobil has given a massive pay hike of 52 per cent to its CEO Darren Woods after the company reported its highest ever profits amid Russian invasion of Ukraine. Woods pay figure now comes to USD 35.9 million. ExxonMobil said that the mega hike was “reflective of record company earnings and stock price performance”. Earlier this year, ExxonMobil reported annual profit of USD 55.7 billion for the year 2022. In the fourth quarter, profits rose 43.7 percent to $12.8 billion, thanks to higher oil and natural gas prices and better refining margins compared with the year-ago period. Revenues from October through December rose 12.3 percent to $95.4 billion. The results reflect slightly higher production of oil and natural gas in 2022 In 2020, ExxonMobil was kicked out of the Dow index while its stock languished during the coronavirus crisis, which dented petroleum demand. At the time, the company was criticized for taking on more debt than rivals. The huge profits by oil companies have sparked pushback from governments. In December, ExxonMobil sued to challenge a new windfall tax policy in Europe. ExxonMobil, along with rival Chevron, has also sparred with US President Joe Biden, who has bashed the energy giants for buying back shares instead of putting extra funds into new oil and gas investments. (With inputs from agencies) 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 ×

ExxonMobil CEO gets massive pay hike after highest ever profits

A&nbsp;report by the Belgium-based&nbsp;newspaper Derniere Heure says&nbsp;that Uber has allegedly been increasing the prices for people if their phone battery is low. The media outlet conducted a small study which showed how the pricing for users in Brussels was based on how much battery they had on their phones. The test was conducted after some users claim to have seen varied prices for the same trips, however, the ride-hailing giant has since refuted these claims.&nbsp;

<meta charset="utf-8" />

What did the investigation find?

Two phones, one with 84 per cent battery and the other with 12 per cent, were used for the investigation while requesting a ride from their office in Brussels to Tour and Taxis in the centre. The report shows a notable discrepancy in prices, as the phone which was at 12 per cent was charged 17.56 euros ($19.32), as opposed to the phone with an 84 per cent battery which charged 16.6 euros ($18.26) for the same distance.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/uber-ceo-khosrowshahi-moonlighted-as-driver-in-2022-this-is-what-he-learnt-580966">Uber CEO Khosrowshahi 'moonlighted' as driver in 2022, this is what he learnt</a>

What did Uber say about these accusations?

In response, the company in a statement to the Brussels-based newspaper&nbsp;has since denied these claims and said, “Uber does not take into account the phone’s battery level to calculate the price of a trip. The dynamic pricing applied to trips booked via Uber is determined by the existing demand for rides and the supply of drivers who can respond to it.”&nbsp;

It added, “During peak hours, when there are many ride requests and few available drivers in a certain geographical area, this may impact the price of the trip.” Uber also said that the app is not able to measure the battery of a user’s phone.

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/uber-signs-mou-with-tata-motors-to-bring-25000-evs-on-platform-in-india-563989">Uber signs MoU with Tata Motors to bring 25,000 EVs on platform in India</a>

Not the first time

This is not the first time that the ride-hailing giant has been accused of taking advantage of its users’ battery life. In a 2016 interview with the National Public Radio (NPR), a Washington-based nonprofit media organisation, Uber’s former head of economic research, Keith Chen said that their company had found that users with lower battery levels were more willing to pay for surge pricing, as per Vice.&nbsp;

However, Chen denied that the firm was explicitly hiking pricing for these customers.&nbsp; 
 
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A report by the Belgium-based newspaper Derniere Heure says that Uber has allegedly been increasing the prices for people if their phone battery is low. The media outlet conducted a small study which showed how the pricing for users in Brussels was based on how much battery they had on their phones.

A report by the Belgium-based newspaper Derniere Heure says that Uber has allegedly been increasing the prices for people if their phone battery is low. The media outlet conducted a small study which showed how the pricing for users in Brussels was based on how much battery they had on their phones. The test was conducted after some users claim to have seen varied prices for the same trips, however, the ride-hailing giant has since refuted these claims. What did the investigation find? Two phones, one with 84 per cent battery and the other with 12 per cent, were used for the investigation while requesting a ride from their office in Brussels to Tour and Taxis in the centre. The report shows a notable discrepancy in prices, as the phone which was at 12 per cent was charged 17.56 euros ($19.32), as opposed to the phone with an 84 per cent battery which charged 16.6 euros ($18.26) for the same distance. ALSO READ | Uber CEO Khosrowshahi 'moonlighted' as driver in 2022, this is what he learnt What did Uber say about these accusations? In response, the company in a statement to the Brussels-based newspaper has since denied these claims and said, “Uber does not take into account the phone’s battery level to calculate the price of a trip. The dynamic pricing applied to trips booked via Uber is determined by the existing demand for rides and the supply of drivers who can respond to it.” It added, “During peak hours, when there are many ride requests and few available drivers in a certain geographical area, this may impact the price of the trip.” Uber also said that the app is not able to measure the battery of a user’s phone. ALSO READ | Uber signs MoU with Tata Motors to bring 25,000 EVs on platform in India Not the first time This is not the first time that the ride-hailing giant has been accused of taking advantage of its users’ battery life. In a 2016 interview with the National Public Radio (NPR), a Washington-based nonprofit media organisation, Uber’s former head of economic research, Keith Chen said that their company had found that users with lower battery levels were more willing to pay for surge pricing, as per Vice. However, Chen denied that the firm was explicitly hiking pricing for these customers. 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.

Uber accused of charging customers more when their phone battery is low: Report

Days after Twitter's owner Elon Musk merged Twitter into a newly-formed company called X Corp, his ambitions to convert the microblogging site into an "everything app" seem to be underway.

Soon, people will be able to log in to Twitter to know the real-time prices of cryptocurrency, stocks and other assets to buy or sell them.

Twitter has partnered with Israel-based investment platform eToro to launch this service on the microblogging site through the "cashtags" feature, which was launched in 2012.

Musk is keen on revamping the "cashtags" feature which allows users to read stock market updates by clicking on stock symbols like $GOOG, $AAPL or $FB.

In the past, users could see data from Tradingviews, a financial data platform, for some assets but could not invest. But with eToro on board, Twitter looks to add another dimension to the microblogging site.

Changes in Twitter since Musk's takeover

Since acquiring Twitter for $44 billion in 2022, Musk has made a series of changes to the microblogging site.

Among the most notable changes Musk has made to Twitter is the end of legacy blue ticks. He tweeted that legacy blue ticks would be removed by April 20.

Users can get a blue tick by subscribing to Twitter Blue. Subscribing to Twitter Blue will help users write longer tweets, post longer videos, and edit them within thirty minutes.

He has also changed Twitter's timeline look. For several months now, users not only see tweets from accounts they follow but also from those Twitter thinks you may like.

Days after Twitter's owner Elon Musk merged Twitter into a newly-formed company called X Corp, his ambitions to convert the microblogging site into an "everything app" seem to be underway.

Days after Twitter's owner Elon Musk merged Twitter into a newly-formed company called X Corp, his ambitions to convert the microblogging site into an "everything app" seem to be underway. Soon, people will be able to log in to Twitter to know the real-time prices of cryptocurrency, stocks and other assets to buy or sell them. Twitter has partnered with Israel-based investment platform eToro to launch this service on the microblogging site through the "cashtags" feature, which was launched in 2012. Musk is keen on revamping the "cashtags" feature which allows users to read stock market updates by clicking on stock symbols like $GOOG, $AAPL or $FB. In the past, users could see data from Tradingviews, a financial data platform, for some assets but could not invest. But with eToro on board, Twitter looks to add another dimension to the microblogging site. Changes in Twitter since Musk's takeover Since acquiring Twitter for $44 billion in 2022, Musk has made a series of changes to the microblogging site. Among the most notable changes Musk has made to Twitter is the end of legacy blue ticks. He tweeted that legacy blue ticks would be removed by April 20. Users can get a blue tick by subscribing to Twitter Blue. Subscribing to Twitter Blue will help users write longer tweets, post longer videos, and edit them within thirty minutes. He has also changed Twitter's timeline look. For several months now, users not only see tweets from accounts they follow but also from those Twitter thinks you may like.

Twitter now a step closer to 'everything app', soon to be trading platform too

Singapore has the world's best business environment&nbsp;for the next five years, as per a report by a leading market intelligence&nbsp;group.&nbsp;

The Economist Intelligence Unit's Business Environment Rankings has named the Southeast Asian city-state as the best business destination due to its high level of economic and political stability.&nbsp;

Canada and Denmark are in the second and third position respectively. The United States, New Zealand and other European countries make up the top 10 list. &nbsp;

Only one other Asian territory finds a place in the top 10 - Hong Kong. The Special Administrative Region of China, a traditional rival of Singapore, occupies the seventh position.&nbsp;

"Our ranking shows that North America and western Europe remain the best regions in the world to do business," Economist Intelligence Unit report quoted Prianthi Roy, country forecast manager and Europe analyst, as saying.&nbsp;

While Singapore and Hong Kong are the only Asian territories in the top 10, several Asian countries have moved up in the rankings.&nbsp;

Vietnam is the biggest gainer, climbing 12 spots in the latest rankings. Thailand has risen 10 places since 2022 while India has managed to move up six places.&nbsp;

Vietnam, in particular, has fared so well due to companies pursuing the policy of having an alternate supply chain&nbsp;in Vietnam. With favourable investment policies and competitive labour costs, Vietnam is being seen as an alternate manufacturing hub to China.&nbsp;

With a stringent zero-Covid policy that ended only last year&nbsp;and the consequent economic distress, it comes as no surprise that the biggest loser in this year's rankings is China.&nbsp;

"The outlook for China’s business environment has deteriorated as a result of greater policy uncertainty, US-China tensions and a more challenging longer-term outlook for growth," the report noted.&nbsp;

China, the report said, now ranks below Malaysia, Thailand, Vietnam and India for doing business.&nbsp;

Singapore has the world's best business environment for the next five years, as per a report by a leading market intelligence group. The Economist Intelligence Unit's Business Environment Rankings has named the Southeast Asian city-state as the best business destination due to its high level of economic and political stability.

Singapore has the world's best business environment for the next five years, as per a report by a leading market intelligence group. The Economist Intelligence Unit's Business Environment Rankings has named the Southeast Asian city-state as the best business destination due to its high level of economic and political stability. Canada and Denmark are in the second and third position respectively. The United States, New Zealand and other European countries make up the top 10 list. Only one other Asian territory finds a place in the top 10 - Hong Kong. The Special Administrative Region of China, a traditional rival of Singapore, occupies the seventh position. "Our ranking shows that North America and western Europe remain the best regions in the world to do business," Economist Intelligence Unit report quoted Prianthi Roy, country forecast manager and Europe analyst, as saying. While Singapore and Hong Kong are the only Asian territories in the top 10, several Asian countries have moved up in the rankings. Vietnam is the biggest gainer, climbing 12 spots in the latest rankings. Thailand has risen 10 places since 2022 while India has managed to move up six places. Vietnam, in particular, has fared so well due to companies pursuing the policy of having an alternate supply chain in Vietnam. With favourable investment policies and competitive labour costs, Vietnam is being seen as an alternate manufacturing hub to China. With a stringent zero-Covid policy that ended only last year and the consequent economic distress, it comes as no surprise that the biggest loser in this year's rankings is China. "The outlook for China’s business environment has deteriorated as a result of greater policy uncertainty, US-China tensions and a more challenging longer-term outlook for growth," the report noted. China, the report said, now ranks below Malaysia, Thailand, Vietnam and India for doing business.

Singapore is world's best business hub: Economist Intelligence Unit report

Amazon has announced technology geared at its cloud users as well as a marketplace for AI tools from other companies. Amazon is joining well-known competitors like Microsoft and Google in the fight to gain an advantage in the generative artificial intelligence (AI) space. The Amazon Web Services (AWS) division of the multinational e-commerce company revealed two of its own large-language models. One of these two models is intended to produce text, and the other one might, among other things, enable online search personalization.

After Google and Microsoft, Amazon AWS joins generative AI race

Legendary investor Warren Buffett, who is often sought for his opinion on global banking and finance, has shared his views about the banking crisis in the United States.

The 92-year-old Buffett told a leading US business channel Wednesday that more banks could collapse in the United States. But he added that depositors would be safe.

"We’re not over bank failures, but depositors haven’t had a crisis. Nobody is going to lose money on a deposit in a US bank. It’s not going to happen," he told CNBC.

The "Sage of Omaha" had an unconventional take on the recent banking crisis, arguing that banks with questionable accounting practices and mismatched assets and liabilities will be exposed in this gloomy period for the banking sector.

Buffett also had a word of advice for banks in the world's largest economy. He said that banks must retain depositor confidence, which he believed could be lost in seconds whenever a banking collapse occurs.

The collapse of two US banks -- Silicon Valley Bank and Signature First Bank -- in March this year&nbsp;triggered panic in the banking sector.

In response, the Federal Reserve lent US banks nearly $12 billion under a one-year lending programme to ease stress on the financial system. US authorities also moved swiftly to protect depositors as they saw "serious risk of contagion" that could have triggered runs on many banks.

&nbsp;

&nbsp;

Legendary investor Warren Buffett, who is often sought for his opinion on global banking and finance, has shared his views about the banking crisis in the United States.

Legendary investor Warren Buffett, who is often sought for his opinion on global banking and finance, has shared his views about the banking crisis in the United States. The 92-year-old Buffett told a leading US business channel Wednesday that more banks could collapse in the United States. But he added that depositors would be safe. "We’re not over bank failures, but depositors haven’t had a crisis. Nobody is going to lose money on a deposit in a US bank. It’s not going to happen," he told CNBC. The "Sage of Omaha" had an unconventional take on the recent banking crisis, arguing that banks with questionable accounting practices and mismatched assets and liabilities will be exposed in this gloomy period for the banking sector. Buffett also had a word of advice for banks in the world's largest economy. He said that banks must retain depositor confidence, which he believed could be lost in seconds whenever a banking collapse occurs. The collapse of two US banks -- Silicon Valley Bank and Signature First Bank -- in March this year triggered panic in the banking sector. In response, the Federal Reserve lent US banks nearly $12 billion under a one-year lending programme to ease stress on the financial system. US authorities also moved swiftly to protect depositors as they saw "serious risk of contagion" that could have triggered runs on many banks.

Warren Buffett warns of more bank collapses in 2023

With Covid cases rising across India, former giant Serum Institute of India, has restarted the production of its Covid vaccine - Covishield. The CEO, Adar Poonawala said on Wednesday that six to seven million doses of Covishield will be made available in the next 90 days.

India: Covid vaccine demand to rise; 6-7 million doses to be available in 90 days | WION

As Americans continue to feel burdened by higher costs for rental, housing and food, US consumer prices they have accelerated last month and has given a rise to possibilities that Federal Reserve was far from causing its interest rates hiking rates.

US inflation at a two year low, fed fears mild recession in 2023

Google is planning to lay off more workforce in coming days, according to a new report. Around 10,000 employees were lay-off in January by Google.

Google's Sundar Pichai hints at more layoffs

A private military company a china-based firm and entities linked to Russian Energy company Rosatom are now among the 120 targets of the new US sanctions against Russia. The US Department of State and the Department of Treasury released a sanctions list in connection with the Russian federation's unlawful and unprovoked invasion of Ukraine including facilitators of sanctions evasion. Apart from helping Ukraine in its War efforts the US has sanctioned Russia and its entities as a punitive tool to cut off Moscow from the Global Financial system among the key people sanctioned Russian billionaire businessman Alisher Usmanov is one of them.

US releases new Russia sanctions list, top energy, telecom firm prime target in list

Twitter owner Elon Musk in a rare wide-ranging interview opened up on takeover of the social media company and the wave of lay offs in the Silicon Valley shortly after he took over the company last year. Asked about his first impressions of Twitter, Musk chuckled and said that he thought of it as "a really nice office building".&nbsp;

Musk, in an interview with BBC said that Twitter before him was being run "like a non-profit." and that without a "drastic action", it had just "four months to live".

<h2>Musk voted for Biden</h2>

Putting aside the previous speculations of Musk being a closeted Republican, Musk said that he voted for Joe Biden in the last US presidential election.&nbsp;

"Definitely close to half the country voted for Trump. I was not one of them," Musk told BBC.

<h2>Musk says he is 'no longer the CEO of Twitter'</h2>

In an interview that had its tense moments, Musk stops the BBC interviewer to say that he is "no longer the CEO of Twitter."

When asked who is the CEO of Twitter, he names his pet dog Floki, a Shiba Inu, the canine breed that symbolises Dogecoin.&nbsp;

<h2>Elon Musk justifies mass layoffs</h2>

Saying that Twitter had 8,000 employees when he took over and it now operates with just 1,500 people, Musk told BBC that while it is "not fun at all" to fire people, he still had to do it.&nbsp;

ALSO WATCH |&nbsp;Elon Musk merges Twitter with X Corp

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"It's not possible to talk with that many people face to face," Musk said.

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<h2>I should not tweet after 3 AM: Elon Musk</h2>

Musk agreed that he has shot himself in the foot multiple times by tweeting uncontrollably.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/technology/twitter-no-more-musk-raises-hopes-of-everything-app-named-x-581449">Twitter no more? Musk raises hopes of 'everything app' named X</a>

"I think I should not tweet after 3 AM," he said.

<h2>Elon Musk calls for AI regulatory body</h2>

Elon Musk said that while developments in the field of Artificial Intelligence were ongoing for many years, a ChatGPT like chatbot had provided it an "easy interface".&nbsp;

"There should be a regulatory body to make sure it doesn't present a danger to the public," Musk said.
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Twitter owner Elon Musk in a rare wide-ranging interview opened up on takeover of the social media company and the wave of lay offs in the Silicon Valley shortly after he took over the company last year.

Twitter owner Elon Musk in a rare wide-ranging interview opened up on takeover of the social media company and the wave of lay offs in the Silicon Valley shortly after he took over the company last year. Asked about his first impressions of Twitter, Musk chuckled and said that he thought of it as "a really nice office building". Musk, in an interview with BBC said that Twitter before him was being run "like a non-profit." and that without a "drastic action", it had just "four months to live". Musk voted for Biden Putting aside the previous speculations of Musk being a closeted Republican, Musk said that he voted for Joe Biden in the last US presidential election. "Definitely close to half the country voted for Trump. I was not one of them," Musk told BBC. Musk says he is 'no longer the CEO of Twitter' In an interview that had its tense moments, Musk stops the BBC interviewer to say that he is "no longer the CEO of Twitter." When asked who is the CEO of Twitter, he names his pet dog Floki, a Shiba Inu, the canine breed that symbolises Dogecoin. Elon Musk justifies mass layoffs Saying that Twitter had 8,000 employees when he took over and it now operates with just 1,500 people, Musk told BBC that while it is "not fun at all" to fire people, he still had to do it. ALSO WATCH | Elon Musk merges Twitter with X Corp × "It's not possible to talk with that many people face to face," Musk said. I should not tweet after 3 AM: Elon Musk Musk agreed that he has shot himself in the foot multiple times by tweeting uncontrollably. ALSO READ | Twitter no more? Musk raises hopes of 'everything app' named X "I think I should not tweet after 3 AM," he said. Elon Musk calls for AI regulatory body Elon Musk said that while developments in the field of Artificial Intelligence were ongoing for many years, a ChatGPT like chatbot had provided it an "easy interface". "There should be a regulatory body to make sure it doesn't present a danger to the public," Musk said. 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 jokes his dog is new Twitter CEO; calls for AI regulatory body

A U.S. judge on Monday denied Theranos founder Elizabeth Holmes’ request to remain free on bail while she appeals her conviction on charges of defrauding investors in the failed blood-testing startup that was once valued at $9 billion.

Holmes, who rose to fame after claiming Theranos' small machines could run an array of diagnostic tests with just a few drops of blood, was convicted at trial in San Jose, California last year.

U.S. District Judge Edward Davila sentenced Holmes to 11 years and three months in prison in November. Holmes asked Davila to postpone the sentence while the 9th U.S. Circuit Court of Appeals reviews her case.

Davila concluded that even if Holmes won her appeal to challenge the Theranos technology evidence, it wouldn't result in a reversal or a new trial of all the counts she was found guilty of.

"Contrary to her suggestion that accuracy and reliability were central issues to her convictions, Ms. Holmes’s misrepresentations to Theranos investors involved more than just whether Theranos technology worked as promised," he said.

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/us-court-sentences-former-theranos-president-ramesh-balwani-to-13-years-in-prison-for-fraud-541101">US court sentences former Theranos president Ramesh Balwani to 13 years in prison for fraud</a>

Holmes, who is scheduled to begin serving her sentence in April, may ask the 9th Circuit to grant bail.

In denying the release appeal, Davila noted that Holmes was unlikely to flee or endanger the community.

ALSO WATCH |&nbsp;Theranos founder Elizabeth Holmes sentenced to 11 years in prison in fraud case

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Prosecutors said during the trial that Holmes misrepresented Theranos' technology and finances. Holmes testified in her own defence, saying she believed her statements were accurate at the time.

On appeal, Holmes plans to challenge several of the judge's rulings, including his allowance of evidence about Theranos' test accuracy that postdated her statements to investors.

Holmes' co-defendant, former Theranos President Ramesh ‘Sunny’ Balwani, was convicted of defrauding Theranos investors and patients at a separate trial and sentenced to 12 years and 11 months in prison.

In March, Davila denied Balwani's request to remain free on bail during his appeal. The 9th Circuit also ruled that Balwani's sentence should not be postponed while it considers his case.

The case is U.S. v. Holmes et al., U.S. District Court, Northern District of California, No. 18-00258. 
 
(With inputs from agencies) 
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A U.S. judge on Monday denied Theranos founder Elizabeth Holmes’ request to remain free on bail while she appeals her conviction on charges of defrauding investors in the failed blood-testing startup that was once valued at $9 billion.

A U.S. judge on Monday denied Theranos founder Elizabeth Holmes’ request to remain free on bail while she appeals her conviction on charges of defrauding investors in the failed blood-testing startup that was once valued at $9 billion. Holmes, who rose to fame after claiming Theranos' small machines could run an array of diagnostic tests with just a few drops of blood, was convicted at trial in San Jose, California last year. U.S. District Judge Edward Davila sentenced Holmes to 11 years and three months in prison in November. Holmes asked Davila to postpone the sentence while the 9th U.S. Circuit Court of Appeals reviews her case. Davila concluded that even if Holmes won her appeal to challenge the Theranos technology evidence, it wouldn't result in a reversal or a new trial of all the counts she was found guilty of. "Contrary to her suggestion that accuracy and reliability were central issues to her convictions, Ms. Holmes’s misrepresentations to Theranos investors involved more than just whether Theranos technology worked as promised," he said. ALSO READ | US court sentences former Theranos president Ramesh Balwani to 13 years in prison for fraud Holmes, who is scheduled to begin serving her sentence in April, may ask the 9th Circuit to grant bail. In denying the release appeal, Davila noted that Holmes was unlikely to flee or endanger the community. ALSO WATCH | Theranos founder Elizabeth Holmes sentenced to 11 years in prison in fraud case × Prosecutors said during the trial that Holmes misrepresented Theranos' technology and finances. Holmes testified in her own defence, saying she believed her statements were accurate at the time. On appeal, Holmes plans to challenge several of the judge's rulings, including his allowance of evidence about Theranos' test accuracy that postdated her statements to investors. Holmes' co-defendant, former Theranos President Ramesh ‘Sunny’ Balwani, was convicted of defrauding Theranos investors and patients at a separate trial and sentenced to 12 years and 11 months in prison. In March, Davila denied Balwani's request to remain free on bail during his appeal. The 9th Circuit also ruled that Balwani's sentence should not be postponed while it considers his case. The case is U.S. v. Holmes et al., U.S. District Court, Northern District of California, No. 18-00258. (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.

Jail sentence awaits Theranos founder Elizabeth Holmes after latest court ruling

Former Apple communications chief Katie Cotton, who played a key role in protecting Apple's beloved brand during Steve Jobs' tenure and beyond, has died at 57.

The family of Cotton, who was born in 1965, announced in an online obituary that she "passed peacefully" on April 6.

On Monday, Apple released a statement confirming her passing.

In a statement, the tech giant expressed its "deep sadness" over Katie's death. The company said over the course of her two decades at Apple, she made innumerable contributions and was widely recognised as a remarkable individual.

Cotton joined Apple in 1996 and served as the company's Vice President of Communications until her departure in 2014.

She was instrumental in developing Apple's media strategy and coordinating the company's ground-breaking product launches.

She was an unsung hero behind the scenes, fighting for Apple's reputation while shielding Steve Jobs from the public eye during his final illness.

The Apple's former communications chief left the company around two years into Tim Cook's term as CEO. Cook succeeded Jobs as the CEO of Apple.

During her tenure, Apple made its way back from the brink of bankruptcy to become the most valuable company in the world, making it one of the most miraculous comebacks in technology history.

Her family's obituary sums up her life.

The family said in the obituary that she moved California from New Jersey to build a name for herself and "so she did."

Cotton is widely regarded as one of the most impressive women working in tech public relations and marketing.

Former Apple communications chief Katie Cotton, who played a key role in protecting Apple's beloved brand during Steve Jobs' tenure and beyond, has died at 57. The family of Cotton, who was born in 1965, announced in an online obituary that she "passed peacefully" on April 6.

Former Apple communications chief Katie Cotton, who played a key role in protecting Apple's beloved brand during Steve Jobs' tenure and beyond, has died at 57. The family of Cotton, who was born in 1965, announced in an online obituary that she "passed peacefully" on April 6. On Monday, Apple released a statement confirming her passing. In a statement, the tech giant expressed its "deep sadness" over Katie's death. The company said over the course of her two decades at Apple, she made innumerable contributions and was widely recognised as a remarkable individual. Cotton joined Apple in 1996 and served as the company's Vice President of Communications until her departure in 2014. She was instrumental in developing Apple's media strategy and coordinating the company's ground-breaking product launches. She was an unsung hero behind the scenes, fighting for Apple's reputation while shielding Steve Jobs from the public eye during his final illness. The Apple's former communications chief left the company around two years into Tim Cook's term as CEO. Cook succeeded Jobs as the CEO of Apple. During her tenure, Apple made its way back from the brink of bankruptcy to become the most valuable company in the world, making it one of the most miraculous comebacks in technology history. Her family's obituary sums up her life. The family said in the obituary that she moved California from New Jersey to build a name for herself and "so she did." Cotton is widely regarded as one of the most impressive women working in tech public relations and marketing.

Katie Cotton, the unsung hero behind Apple's media strategy, dies

Corporate India lost one of its titans on Wednesday morning.&nbsp;

Mahindra &amp; Mahindra Chairman Emeritus Keshub Mahindra died in Mumbai on Wednesday, reports said. He was 99.&nbsp;

Born on October 9, 1923, Mahindra graduated from the prestigious Wharton School of the University of Pennsylvania.

He joined the company in 1947, the year India became independent, and became its chairman in 1963. He remained in the position till 2012, when he passed on the baton to his nephew Anand Mahindra.&nbsp;

With a net worth of about $1.2 billion, Mahindra was India's oldest billionaire. As the chairman for nearly five decades, he transformed Mahindra &amp; Mahindra into a multinational company, with interests in automobile manufacturer as well as other businesses like IT, real estate, financial services and hospitality.&nbsp;

As a leading member of Corporate India, he was a part of several government committees, including the Sachar Commission on Company Law and Monopolistic and Restrictive Trade Practices and the Central Advisory Council of Industries.

Under Dr Manmohan Singh, Mahindra was a member of the Prime Minister’s Council on Trade and Industry between 2004 and 2010.&nbsp;

 
Tributes pour in for the late industrialist&nbsp;

Industry leaders condoled the death of Mahindra.&nbsp;

Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement: "The Indian automobile industry has lost one of its pioneers. His leadership in the early years of the journey of the Indian auto industry had led to India being recognised as an important player globally and also helped in India becoming a manufacturing hub for the automobile sector."&nbsp;

Pawan Goenka, the chairman of Indian National Space Promotion and Authorisation Centre, tweeted: "The industrial world has lost one of the tallest personalities today. Shri Keshub Mahindra had no match; the nicest person I had the privilege of knowing."

In his condolence message, industrialist Gautam Singhania fondly remembered Mahindra. He tweeted: "Keshubhji lived a glorious life guiding the growth of Mahindra group for nearly five decades." 
 
&nbsp;

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Corporate India lost one of its titans on Wednesday morning. Mahindra & Mahindra Chairman Emeritus Keshub Mahindra died in Mumbai on Wednesday, reports said. He was 99.

Corporate India lost one of its titans on Wednesday morning. Mahindra & Mahindra Chairman Emeritus Keshub Mahindra died in Mumbai on Wednesday, reports said. He was 99. Born on October 9, 1923, Mahindra graduated from the prestigious Wharton School of the University of Pennsylvania. He joined the company in 1947, the year India became independent, and became its chairman in 1963. He remained in the position till 2012, when he passed on the baton to his nephew Anand Mahindra. With a net worth of about $1.2 billion, Mahindra was India's oldest billionaire. As the chairman for nearly five decades, he transformed Mahindra & Mahindra into a multinational company, with interests in automobile manufacturer as well as other businesses like IT, real estate, financial services and hospitality. As a leading member of Corporate India, he was a part of several government committees, including the Sachar Commission on Company Law and Monopolistic and Restrictive Trade Practices and the Central Advisory Council of Industries. Under Dr Manmohan Singh, Mahindra was a member of the Prime Minister’s Council on Trade and Industry between 2004 and 2010. Tributes pour in for the late industrialist Industry leaders condoled the death of Mahindra. Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement: "The Indian automobile industry has lost one of its pioneers. His leadership in the early years of the journey of the Indian auto industry had led to India being recognised as an important player globally and also helped in India becoming a manufacturing hub for the automobile sector." Pawan Goenka, the chairman of Indian National Space Promotion and Authorisation Centre, tweeted: "The industrial world has lost one of the tallest personalities today. Shri Keshub Mahindra had no match; the nicest person I had the privilege of knowing." In his condolence message, industrialist Gautam Singhania fondly remembered Mahindra. He tweeted: "Keshubhji lived a glorious life guiding the growth of Mahindra group for nearly five decades." WATCH WION LIVE HERE

Keshub Mahindra, who led Mahindra & Mahindra for five decades, dies at 99

Binance.US, the United States arm of the cryptocurrency exchange Binance will delist two digital tokens from its trading platform on April 18.

Binance said that it has decided to delist digital tokens Tron (TRX) and Spell (SPELL) as part of a periodic review.

As per media reports, Tron fell over five percent against the US dollar after the announcement, while the Spell token fell over four percent on Wednesday.

Binance said that changes in the trading volume and liquidity, volatility in token’s risk profile, or evidence of fraud are some of the factors that are considered before delisting a token from its trading platform.

The decision to delist Tron comes just days after the US Securities and Exchange Commission charged Tron founder Justin Sun with fraud. According to the US regulator, Sun distributed billions of crypto assets known as Tronix (TRX) and BitTorrent (BTT) to artificially inflate trading volume.

However, Sun has downplayed the delisting of his token, arguing that Tron's trading volume on the trading platform in the United States is only a small fraction of its total trade volume. "Tron's current trading volume is $400 million," Reuters quoted him as saying.&nbsp;

It is however unclear why Spell has been delisted from Binance.US.&nbsp;

Binance.US, the United States arm of the cryptocurrency exchange Binance will delist two digital tokens from its trading platform on April 18. Binance said that it has decided to delist digital tokens Tron (TRX) and Spell (SPELL) as part of a periodic review.

Binance.US, the United States arm of the cryptocurrency exchange Binance will delist two digital tokens from its trading platform on April 18. Binance said that it has decided to delist digital tokens Tron (TRX) and Spell (SPELL) as part of a periodic review. As per media reports, Tron fell over five percent against the US dollar after the announcement, while the Spell token fell over four percent on Wednesday. Binance said that changes in the trading volume and liquidity, volatility in token’s risk profile, or evidence of fraud are some of the factors that are considered before delisting a token from its trading platform. The decision to delist Tron comes just days after the US Securities and Exchange Commission charged Tron founder Justin Sun with fraud. According to the US regulator, Sun distributed billions of crypto assets known as Tronix (TRX) and BitTorrent (BTT) to artificially inflate trading volume. However, Sun has downplayed the delisting of his token, arguing that Tron's trading volume on the trading platform in the United States is only a small fraction of its total trade volume. "Tron's current trading volume is $400 million," Reuters quoted him as saying. It is however unclear why Spell has been delisted from Binance.US.

US arm of Binance to delist Tron, Spell tokens

Corporate India lost one of its titans this morning.&nbsp;

Mahindra &amp; Mahindra Chairman Emeritus Keshub Mahindra died in Mumbai on Wednesday, reports said. He was 99.&nbsp;

Born on October 9, 1923, Mahindra graduated from the prestigious Wharton School of the University of Pennsylvania.

He joined the company in 1947, the year India became independent, and became its chairman in 1963. He remained in the position till 2012, when he passed on the baton to his nephew Anand Mahindra.&nbsp;

With a net worth of about $1.2 billion, Mahindra was India's oldest billionaire. As the chairman for nearly five decades, he transformed Mahindra &amp; Mahindra into a multinational company, with interests in automobile manufacturer to other businesses like IT, real estate, financial services and hospitality.&nbsp;

As a leading member of Corporate India, he was a part of several government committees, including the Sachar Commission on Company Law and Monopolistic and Restrictive Trade Practices and the Central Advisory Council of Industries.

Under Dr Manmohan Singh, Mahindra was a member of the Prime Minister’s Council on Trade and Industry between 2004 and 2010.&nbsp;

 
Tributes pour in for the late industrialist&nbsp;

Industry leaders condoled the death of Mahindra.&nbsp;

Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement: "The Indian automobile industry has lost one of its pioneers. His leadership in the early years of the journey of the Indian auto industry had led to india being recognised as an important player globally and also helped in India becoming a manufacturing hub for the automobile sector."&nbsp;

Pawan Goenka, the chairman of Indian National Space Promotion and Authorisation Centre, tweeted: "The industrial world has lost one of the tallest personalities today. Shri Keshub Mahindra had no match; the nicest person I had the privilege of knowing."

In his condolence message, industrialist Gautam Singhania fondly remembered Mahindra. He tweeted: "Keshubhji lived a glorious life guiding the growth of Mahindra group for nearly five decades."

Corporate India lost one of its titans this morning. Mahindra & Mahindra Chairman Emeritus Keshub Mahindra died in Mumbai on Wednesday, reports said. He was 99. Born on October 9, 1923, Mahindra graduated from the prestigious Wharton School of the University of Pennsylvania.

Corporate India lost one of its titans this morning. Mahindra & Mahindra Chairman Emeritus Keshub Mahindra died in Mumbai on Wednesday, reports said. He was 99. Born on October 9, 1923, Mahindra graduated from the prestigious Wharton School of the University of Pennsylvania. He joined the company in 1947, the year India became independent, and became its chairman in 1963. He remained in the position till 2012, when he passed on the baton to his nephew Anand Mahindra. With a net worth of about $1.2 billion, Mahindra was India's oldest billionaire. As the chairman for nearly five decades, he transformed Mahindra & Mahindra into a multinational company, with interests in automobile manufacturer to other businesses like IT, real estate, financial services and hospitality. As a leading member of Corporate India, he was a part of several government committees, including the Sachar Commission on Company Law and Monopolistic and Restrictive Trade Practices and the Central Advisory Council of Industries. Under Dr Manmohan Singh, Mahindra was a member of the Prime Minister’s Council on Trade and Industry between 2004 and 2010. Tributes pour in for the late industrialist Industry leaders condoled the death of Mahindra. Society of Indian Automobile Manufacturers (SIAM) President Vinod Aggarwal said in a statement: "The Indian automobile industry has lost one of its pioneers. His leadership in the early years of the journey of the Indian auto industry had led to india being recognised as an important player globally and also helped in India becoming a manufacturing hub for the automobile sector." Pawan Goenka, the chairman of Indian National Space Promotion and Authorisation Centre, tweeted: "The industrial world has lost one of the tallest personalities today. Shri Keshub Mahindra had no match; the nicest person I had the privilege of knowing." In his condolence message, industrialist Gautam Singhania fondly remembered Mahindra. He tweeted: "Keshubhji lived a glorious life guiding the growth of Mahindra group for nearly five decades."

Mahindra & Mahindra Chairman Emeritus Keshub Mahindra dies at 99

Former Apple Communications Chief Katie Cotton, who played a key role in protecting Apple beloved brand during Steve Jobs tenure, had died. Cotton was born in 1965 announced in an online obituary that she passed peacefully on April 6th on Monday.

Katie Cotton, Apple's steward for 18 years dies: The unsung hero behind Apple's media strategy