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India is having some relief at the time of a volatile macro environment. India's forex reserves are at a five-month high. Gold reserves are also up by $1.106 billion to $42.890 billion.

India's forex reserves are at five-month high; Gold reserves up by $1.106 billion to $42.890 billion

Amid the ongoing global economic uncertainties, music giant Spotify Inc. has joined big tech companies like Twitter and Meta to announce layoffs.

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The negotiations for an ambitious Free Trade Agreement between Britain and India are "well advanced", United Kingdom's Foreign Office Minister for South Asia, Lord Tariq Ahmed said in a parliamentary debate in London's House of Lords. Ahmed added that the next round of FTA talks between New Delhi and London will commence very soon, with his fellow parliamentarians raising India's ambitious economic profile and New Delhi's G20 presidency as determinant factors to ensure an FTA deal.&nbsp;

Successive governments led by various Prime Ministers in Britain have asserted in the past that India being one of the world’s biggest economies is central to Britain's foreign policy.

"It is true that, as we set up and strengthen this relationship, the United Kingdom’s relationship with India is central to U.K. foreign policy,"&nbsp;Ahmad asserted in the House of Lords, repeating Britain's stance on elevated New Delhi-London ties.&nbsp;

ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/wion-dispatch-uk-india-hold-sixth-round-of-free-trade-agreement-talks-542415">WION Dispatch: UK, India hold sixth round of free trade agreement talks</a>

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"As one of the world’s biggest and fastest-growing economies, India is a key partner to the UK. We are also looking at lowering non-tariff barriers on medical devices to benefit British exporters, and are well advanced in our negotiations for an ambitious and balanced free trade agreement,"&nbsp;he said.

Ahmad was responding to the debate entitled 'The Importance of the Relationship Between the United Kingdom and India' in the House of Lords on Thursday, tabled by British Indian peer Baroness Sandy Verma.

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/britains-sunak-tells-pm-modi-that-excited-about-what-our-two-great-democracies-can-achieve-528949">'Excited about what our two great democracies can achieve', Rishi Sunak tells PM Modi</a>

A strong trade deal with India could boost the U.K. economy by billions of pounds over the long term, helping families across the country, he said.

"Cutting red tape and high tariffs could also make it easier and cheaper for UK&nbsp;companies to sell in India, driving growth and supporting jobs,” he added.

Six rounds of FTA talks done so far

The minister said that so far India and the UK have completed six rounds of talks. In a statement of assurance, he said that as a mark of mutual agreement between New Delhi and London, the two sides are assuring that the FTA deal is not rushed but properly thought through.&nbsp;

"I assure them that we are working those through specifically, but it was very much by mutual agreement to ensure that the trade deal signed is not rushed but properly thought through, and that all chapters are discussed in an exhaustive manner so that we reach a deal that is of mutual benefit to both countries and their peoples,” the Minister said.

According to official UK&nbsp;government data, India-U.K. bilateral trade currently stands at around 29.6 billion pounds a year (36.67 billion dollars).&nbsp;

UK-India FTA talks: From Johnson to Sunak via Truss

London and New Delhi formally launched Free Trade Agreement talks in January 2022, when Prime Minister Boris Johnson was at the helm of affairs. The talks began after years of backchannel negotiations between the two sides, The Times reported.&nbsp;

Johnson set Diwali as the deadline for a Free Trade Agreement with India. The initial deadline could not be honoured for unspecified reasons amid political uncertainty with frequent changes in the 10, Downing Street officeholders.&nbsp;

The current Prime Minister Rishi Sunak committed to working "at pace" towards an FTA that does not “sacrifice quality for speed” after the Diwali deadline was missed.&nbsp;

Lord Karan Bilimoria spoke of the need for large prime ministerial delegations to India and called on Prime Minister Sunak to lead one “as soon as possible”.

"Today India has the presidency of the G20. Today India has a vision to become, in the next 25 years, the second-largest economy in the world with a GDP of $32 billion," he said.

"The Indian express has left the station. It is now the fastest train in the world—the fastest-growing major economy in the world. The UK must be its closest and most trusted friend and partner in the decades ahead," he added.

(With inputs from agencies)

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The negotiations for an ambitious Free Trade Agreement between Britain and India are "well advanced", United Kingdom's Foreign Office Minister for South Asia, Lord Tariq Ahmed said in a parliamentary debate in London's House of Lords.

The negotiations for an ambitious Free Trade Agreement between Britain and India are "well advanced", United Kingdom's Foreign Office Minister for South Asia, Lord Tariq Ahmed said in a parliamentary debate in London's House of Lords. Ahmed added that the next round of FTA talks between New Delhi and London will commence very soon, with his fellow parliamentarians raising India's ambitious economic profile and New Delhi's G20 presidency as determinant factors to ensure an FTA deal. Successive governments led by various Prime Ministers in Britain have asserted in the past that India being one of the world’s biggest economies is central to Britain's foreign policy. "It is true that, as we set up and strengthen this relationship, the United Kingdom’s relationship with India is central to U.K. foreign policy," Ahmad asserted in the House of Lords, repeating Britain's stance on elevated New Delhi-London ties. ALSO WATCH | WION Dispatch: UK, India hold sixth round of free trade agreement talks × "As one of the world’s biggest and fastest-growing economies, India is a key partner to the UK. We are also looking at lowering non-tariff barriers on medical devices to benefit British exporters, and are well advanced in our negotiations for an ambitious and balanced free trade agreement," he said. Ahmad was responding to the debate entitled 'The Importance of the Relationship Between the United Kingdom and India' in the House of Lords on Thursday, tabled by British Indian peer Baroness Sandy Verma. ALSO READ | 'Excited about what our two great democracies can achieve', Rishi Sunak tells PM Modi A strong trade deal with India could boost the U.K. economy by billions of pounds over the long term, helping families across the country, he said. "Cutting red tape and high tariffs could also make it easier and cheaper for UK companies to sell in India, driving growth and supporting jobs,” he added. Six rounds of FTA talks done so far The minister said that so far India and the UK have completed six rounds of talks. In a statement of assurance, he said that as a mark of mutual agreement between New Delhi and London, the two sides are assuring that the FTA deal is not rushed but properly thought through. "I assure them that we are working those through specifically, but it was very much by mutual agreement to ensure that the trade deal signed is not rushed but properly thought through, and that all chapters are discussed in an exhaustive manner so that we reach a deal that is of mutual benefit to both countries and their peoples,” the Minister said. According to official UK government data, India-U.K. bilateral trade currently stands at around 29.6 billion pounds a year (36.67 billion dollars). UK-India FTA talks: From Johnson to Sunak via Truss London and New Delhi formally launched Free Trade Agreement talks in January 2022, when Prime Minister Boris Johnson was at the helm of affairs. The talks began after years of backchannel negotiations between the two sides, The Times reported. Johnson set Diwali as the deadline for a Free Trade Agreement with India. The initial deadline could not be honoured for unspecified reasons amid political uncertainty with frequent changes in the 10, Downing Street officeholders. The current Prime Minister Rishi Sunak committed to working "at pace" towards an FTA that does not “sacrifice quality for speed” after the Diwali deadline was missed. Lord Karan Bilimoria spoke of the need for large prime ministerial delegations to India and called on Prime Minister Sunak to lead one “as soon as possible”. "Today India has the presidency of the G20. Today India has a vision to become, in the next 25 years, the second-largest economy in the world with a GDP of $32 billion," he said. "The Indian express has left the station. It is now the fastest train in the world—the fastest-growing major economy in the world. The UK must be its closest and most trusted friend and partner in the decades ahead," he added. (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.

UK says FTA talks with India ‘well advanced’, seventh round soon

The demand for oil storage tanks in Singapore is rising, a sign that a flood of fuel from Russia is being mixed and re-exported globally. Tank space in the country is being snapped up because of an increase in interest and profits from mixing supplies of cheap fuel from Russia with shipments from other sources, a tank operator official and a consultant on the matter said as per report by news agency Bloomberg.&nbsp;

Singapore has not banned the import of Russian oil or petroleum products, unlike the United States and European Union (EU) countries which have done so as retaliation for Moscow's offensive in Ukraine. However, financial institutions in Singapore are prohibited from financing or dealing with Russian goods and companies, the Bloomberg report said.

Since the beginning of the war in Ukraine in February last year, Russian crude oil and fuel flows to Asia and the Middle East increased after western buyers turned away in retaliation. These (Russian) shipments have increasingly made their way to blending and redistribution hubs like Singapore and Fujairah in the United Arab Emirates where they can be co-mingled, repackaged and re-exported globally, the report added.&nbsp; 
 
These Russia to Asia shipments would increase in the coming weeks as the EU would impose new sanctions on &nbsp;Russian petroleum products from February 5.&nbsp;

A spokesperson for Advario Asia Pacific Pte, an oil storage firm, told the news agency that the firm has observed an increase in the number of inquiries of short/spot-term storage in the period leading up to December. The spokesperson added that the firm verified the source of products to ensure compliance with Russian sanctions before accepting them.&nbsp;

A spokesperson from the Jurong Port Universal Terminal Pte did not talk about the movement of specific products but said the firm complies with all applicable sanctions.

William Tan from Singapore-based Miyabi Industries, a marine fuel consultancy firm, told Bloomberg that traders and fuel suppliers are all over oil storage and blending plays right now because of “very good” profit margins from such activities. Tan said that traders can enjoy close to 20% profit margin from mixing Russian components with other grades to make a blended fuel oil product, adding this trend has been going on since October last year.&nbsp;

(With inputs from agencies)

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The demand for oil storage tanks in Singapore is rising, a sign that a flood of fuel from Russia is being mixed and re-exported globally. Tank space in the country is being snapped up because of an increase in interest and profits from mixing supplies of cheap fuel from Russia with shipments from other sources, a tank operator official and a consultant on the matter said as per report by news agency Bloomberg.

The demand for oil storage tanks in Singapore is rising, a sign that a flood of fuel from Russia is being mixed and re-exported globally. Tank space in the country is being snapped up because of an increase in interest and profits from mixing supplies of cheap fuel from Russia with shipments from other sources, a tank operator official and a consultant on the matter said as per report by news agency Bloomberg. Singapore has not banned the import of Russian oil or petroleum products, unlike the United States and European Union (EU) countries which have done so as retaliation for Moscow's offensive in Ukraine. However, financial institutions in Singapore are prohibited from financing or dealing with Russian goods and companies, the Bloomberg report said. Since the beginning of the war in Ukraine in February last year, Russian crude oil and fuel flows to Asia and the Middle East increased after western buyers turned away in retaliation. These (Russian) shipments have increasingly made their way to blending and redistribution hubs like Singapore and Fujairah in the United Arab Emirates where they can be co-mingled, repackaged and re-exported globally, the report added. These Russia to Asia shipments would increase in the coming weeks as the EU would impose new sanctions on Russian petroleum products from February 5. A spokesperson for Advario Asia Pacific Pte, an oil storage firm, told the news agency that the firm has observed an increase in the number of inquiries of short/spot-term storage in the period leading up to December. The spokesperson added that the firm verified the source of products to ensure compliance with Russian sanctions before accepting them. A spokesperson from the Jurong Port Universal Terminal Pte did not talk about the movement of specific products but said the firm complies with all applicable sanctions. William Tan from Singapore-based Miyabi Industries, a marine fuel consultancy firm, told Bloomberg that traders and fuel suppliers are all over oil storage and blending plays right now because of “very good” profit margins from such activities. Tan said that traders can enjoy close to 20% profit margin from mixing Russian components with other grades to make a blended fuel oil product, adding this trend has been going on since October last year. (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.

Demand for oil storage tanks in Singapore is rising. Here's the reason

Federal prosecutors have seized nearly $700 million in assets from&nbsp;FTX&nbsp;founder Sam Bankman-Fried in January, largely in the form of Robinhood stock, according to a court filing on Friday.&nbsp;Bankman-Fried, who has been accused of stealing billions of dollars from&nbsp;FTX&nbsp; customers to pay debts incurred by his crypto-focused hedge fund, has pleaded not guilty to fraud charges. He is scheduled to face trial in October.

The Department of Justice revealed the seizure of Robinhood shares earlier this month, but it provided a more complete list of seized assets Friday, including cash held at various banks and assets deposited at crypto exchange Binance.

The ownership of the seized Robinhood shares, valued at about $525 million, has been the subject of dispute&nbsp;between Bankman-Fried,&nbsp;FTX, and bankrupt crypto lender BlockFi.

The most recent asset seizure reported by the DOJ took place on Thursday, when prosecutors seized $94.5 million in cash from an account at Silvergate Bank which was associated with&nbsp;FTX&nbsp;Digital Markets,&nbsp;FTX's subsidiary in the Bahamas. The DOJ seized more than $7 million from other Silvergate accounts associated with Bankman-Fried and&nbsp;FTX.

The DOJ previously seized nearly $50 million from an&nbsp;FTX&nbsp;Digital Markets account at Moonstone Bank, a small bank in Washington state.

DOJ also said that assets in three Binance accounts associated with Bankman-Fried were subject to criminal forfeiture, but did not provide an estimate of the value in those accounts.

(With inputs from agencies)

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Federal prosecutors have seized nearly $700 million in assets from FTX founder Sam Bankman-Fried in January, largely in the form of Robinhood stock, according to a court filing on Friday.

Federal prosecutors have seized nearly $700 million in assets from FTX founder Sam Bankman-Fried in January, largely in the form of Robinhood stock, according to a court filing on Friday. Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, has pleaded not guilty to fraud charges. He is scheduled to face trial in October. The Department of Justice revealed the seizure of Robinhood shares earlier this month, but it provided a more complete list of seized assets Friday, including cash held at various banks and assets deposited at crypto exchange Binance. The ownership of the seized Robinhood shares, valued at about $525 million, has been the subject of dispute between Bankman-Fried, FTX, and bankrupt crypto lender BlockFi. The most recent asset seizure reported by the DOJ took place on Thursday, when prosecutors seized $94.5 million in cash from an account at Silvergate Bank which was associated with FTX Digital Markets, FTX's subsidiary in the Bahamas. The DOJ seized more than $7 million from other Silvergate accounts associated with Bankman-Fried and FTX. The DOJ previously seized nearly $50 million from an FTX Digital Markets account at Moonstone Bank, a small bank in Washington state. DOJ also said that assets in three Binance accounts associated with Bankman-Fried were subject to criminal forfeiture, but did not provide an estimate of the value in those accounts. (With inputs from agencies) WATCH WION LIVE HERE

Feds seized nearly $700 million from FTX founder Sam Bankman-Fried before trial

The Bolivian government has picked a consortium including&nbsp;Chinese battery giant CATL to develop its largely untapped lithium reserves. A report by the news agency Reuters on Friday (January 20) said the deal would see the consortium partner direct lithium extraction from Bolivia's Uyuni and Oruro salt flats.&nbsp;The partnership would give the CBC consortium the rights to develop two lithium plants which can produce up to 25,000 tonnes of battery-grade lithium carbonate each annually.&nbsp; 
 
China's CATL specialises in manufacturing lithium-ion batteries for electric vehicles (EV) and energy storage systems but it does not produce lithium at present though it has invested in many Chinese projects. The report said that two years back, the company lost the bid to buy the Millenial Lithium Corp.&nbsp;

Speaking on Friday's deal, Bolivian President Luis Arce said that the CBC consortium would invest more than $1 billion in the project's first stage to boost infrastructure, roads and conditions required to start the lithium plants the country hopes will one day produce lithium cathodes and batteries.

“CBC will make an investment of more than one billion dollars in the first stage. One billion dollars that will help improve electric energy at the places where it will be established, roads, basic services, conditions for the constructions of the plants that will produce the lithium cathodes and batteries,” he said.&nbsp;

"Today begins the era of industrialisation of Bolivian lithium," Arce said, adding there was no time to lose in developing the metal. The president also said that talks were ongoing for potential partnerships with other foreign firms.&nbsp;

Bolivia's energy minister Franklin Molina, meanwhile, said the deal showed there were "sovereign alternatives to the privatisation models of lithium exploitation." State firm YLB is set to supervise and play a central part in the project.&nbsp;

As per the US Geological Survey, Bolivia's salt flats are home to the world's largest lithium resources at 21 million tonnes. However, the country has almost no industrial production or commercially viable reserves. The report added that the partnership with the CBC consortium could help finally unlock Bolivia's huge potential as a supplier of lithium for batteries needed to power the global shift to electric vehicles.&nbsp;

(With inputs from agencies)

&nbsp;

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The Bolivian government has picked a consortium including Chinese battery giant CATL to develop its largely untapped lithium reserves. A report by the news agency Reuters on Friday (January 20) said the deal would see the consortium partner direct lithium extraction from Bolivia's Uyuni and Oruro salt flats.

The Bolivian government has picked a consortium including Chinese battery giant CATL to develop its largely untapped lithium reserves. A report by the news agency Reuters on Friday (January 20) said the deal would see the consortium partner direct lithium extraction from Bolivia's Uyuni and Oruro salt flats. The partnership would give the CBC consortium the rights to develop two lithium plants which can produce up to 25,000 tonnes of battery-grade lithium carbonate each annually. China's CATL specialises in manufacturing lithium-ion batteries for electric vehicles (EV) and energy storage systems but it does not produce lithium at present though it has invested in many Chinese projects. The report said that two years back, the company lost the bid to buy the Millenial Lithium Corp. Speaking on Friday's deal, Bolivian President Luis Arce said that the CBC consortium would invest more than $1 billion in the project's first stage to boost infrastructure, roads and conditions required to start the lithium plants the country hopes will one day produce lithium cathodes and batteries. “CBC will make an investment of more than one billion dollars in the first stage. One billion dollars that will help improve electric energy at the places where it will be established, roads, basic services, conditions for the constructions of the plants that will produce the lithium cathodes and batteries,” he said. "Today begins the era of industrialisation of Bolivian lithium," Arce said, adding there was no time to lose in developing the metal. The president also said that talks were ongoing for potential partnerships with other foreign firms. Bolivia's energy minister Franklin Molina, meanwhile, said the deal showed there were "sovereign alternatives to the privatisation models of lithium exploitation." State firm YLB is set to supervise and play a central part in the project. As per the US Geological Survey, Bolivia's salt flats are home to the world's largest lithium resources at 21 million tonnes. However, the country has almost no industrial production or commercially viable reserves. The report added that the partnership with the CBC consortium could help finally unlock Bolivia's huge potential as a supplier of lithium for batteries needed to power the global shift to electric vehicles. (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.

Bolivia picks consortium including Chinese firm to develop its untapped lithium reserves: Report

In a major setback for Google, it has lost its bid to block the Indian Android Anti-Trust ruling. India's top court rejected Google's challenge of a law tribunal's verdict.

Major setback for Google in India as top court rejects Google's challenge

The sacked Factory workers in India have sued General Motors and also its Global CEO for not paying the court audit compensation, according to a

Fired Indian workers sue GM & Global CEO; GM India owes workers about $3 million in wages

Reed Hastings is resigning as Netflix's chief executive officer, the company he co-founded 25 years ago, as part of a restructuring at the top of one of Hollywood's most powerful studios.&nbsp;In a blog post, Hastings, who launched Netflix in 1997 as a DVD-by-mail service, said that he has been delegating&nbsp;managerial responsibilities increasingly. He stated that this is "the right time to complete&nbsp;my succession." 
 
“Our board has been discussing succession planning for many years (even founders need to evolve!)”, Hastings, 62, wrote. “I’m so proud of our first 25 years, and so excited about our next quarter of a century.”&nbsp;

Ted Sarandos, who handled programming throughout Netflix's significant investment phase and was promoted to co-chief executive status with Hastings in 2020, and chief operations officer Greg Peters have been appointed as co-chief executives.

Also read |&nbsp;<a href="https://www.wionews.com/entertainment/singer-songwriter-david-crosby-dead-at-age-81-554283">Singer-songwriter David Crosby dies at 81</a>

Netflix shares increased by over eight per cent&nbsp;In after-hours trading.&nbsp;

The change occurs at a time when Netflix has lost more than a third of its market value since admitting its decade-long growth boom had ended. The task of restoring Netflix and guiding it through a more challenging period for the entertainment business will fall to Sarandos and Peters.

Following in the footsteps of Microsoft's Bill Gates and Amazon's Jeff Bezos, Hastings will continue in his position as executive chair.&nbsp;The billionaire founder said he plans to “spend more time on philanthropy” but “remain very focused on Netflix stock doing well”.

(With inputs from agencies)

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Reed Hastings is resigning as Netflix's chief executive officer, the company he co-founded 25 years ago, as part of a restructuring at the top of one of Hollywood's most powerful studios.

Reed Hastings is resigning as Netflix's chief executive officer, the company he co-founded 25 years ago, as part of a restructuring at the top of one of Hollywood's most powerful studios. In a blog post, Hastings, who launched Netflix in 1997 as a DVD-by-mail service, said that he has been delegating managerial responsibilities increasingly. He stated that this is "the right time to complete my succession." “Our board has been discussing succession planning for many years (even founders need to evolve!)”, Hastings, 62, wrote. “I’m so proud of our first 25 years, and so excited about our next quarter of a century.” Ted Sarandos, who handled programming throughout Netflix's significant investment phase and was promoted to co-chief executive status with Hastings in 2020, and chief operations officer Greg Peters have been appointed as co-chief executives. Also read | Singer-songwriter David Crosby dies at 81 Netflix shares increased by over eight per cent In after-hours trading. The change occurs at a time when Netflix has lost more than a third of its market value since admitting its decade-long growth boom had ended. The task of restoring Netflix and guiding it through a more challenging period for the entertainment business will fall to Sarandos and Peters. Following in the footsteps of Microsoft's Bill Gates and Amazon's Jeff Bezos, Hastings will continue in his position as executive chair. The billionaire founder said he plans to “spend more time on philanthropy” but “remain very focused on Netflix stock doing well”. (With inputs from agencies) WATCH WION LIVE HERE:

Netflix co-founder Reed Hastings to resign as chief executive

Following the footsteps of embattled FTX and BlockFi, another cryptocurrency lender Genesis Global Holdco LLC, and two of its subsidiaries have filed for bankruptcy in New York court, indicating how the crypto fall has created a ripple effect in the market.

Genesis Global Holdco, Genesis Global Capital, and Genesis Asia Pacific, filed voluntary petitions under the bankruptcy code for with the Southern District of New York court.

It, however, added that Genesis' derivatives and spot trading, broker-dealer, and custody businesses were not part of the bankruptcy process, and would continue their client trading operations.

Genesis’ lending unit said it had both assets and liabilities in the range of $1 billion to $10 billion, and more than 100,000 creditors in its filing.

In a statement, Genesis Global Holdco said that it is mulling to push for a potential sale or equitisation transaction to pay creditors, claiming that it had $150 million in cash to support the restructuring.

<h2>FTX says Cryptos worth $415 million stolen, founder Sam Bankman-Fried says FTX is solvent</h2>

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On January 12, the US Securities and Exchange Commission (SEC) charged Genesis with illegally selling securities to investors through the Earn program.

Genesis brokered digital assets for financial institutions such as hedge funds and asset managers and had almost&nbsp;$3 billion in total active loans&nbsp;at the end of the third quarter, down from $11.1 billion a year earlier, according to its website.

<h2>Threat to Sam Bankman-Fried's life?</h2>

Meanwhile, FTX founder Sam Bankman-Fried's lawyers have claimed a security threat against the 30-year-old billionaire, after a car drove into a metal barricade outside the crypto trader’s home in California.

The billionaire’s lawyers in its filing in Manhattan federal court said that three men got out of the car and told a security officer guarding his home, "You won't be able to keep us out."

The men, who have not been identified, then got back in the car and drove away.

The lawyers, however, did not specify when the incident took place, describing it only as recent.

Their brought up the incident in the court in response to a major push from the media organisations to make public the names of two people who helped guarantee Bankman-Fried's bond alongside his parents.

<h2>FTX founder wants to start a new business</h2>

Bankman-Fried told BBC from the Bahamas that he would “give anything” to start a new business to help his customers who lost their investments.

“I’m going to be thinking about how we can help the world, and if users haven’t gotten much back, I’m going to be thinking about what I can do for them,” Bankman-Fried told the BBC.

“And I think at the very least I have a duty to&nbsp;FTX&nbsp;users to do right by them as best as I can.”

(With inputs from agencies)

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Following the footsteps of embattled FTX and BlockFi, another cryptocurrency lender Genesis Global Holdco LLC, and two of its subsidiaries have filed for bankruptcy in New York court, indicating how the crypto fall has created a ripple effect in the market.

Following the footsteps of embattled FTX and BlockFi, another cryptocurrency lender Genesis Global Holdco LLC, and two of its subsidiaries have filed for bankruptcy in New York court, indicating how the crypto fall has created a ripple effect in the market. Genesis Global Holdco, Genesis Global Capital, and Genesis Asia Pacific, filed voluntary petitions under the bankruptcy code for with the Southern District of New York court. It, however, added that Genesis' derivatives and spot trading, broker-dealer, and custody businesses were not part of the bankruptcy process, and would continue their client trading operations. Genesis’ lending unit said it had both assets and liabilities in the range of $1 billion to $10 billion, and more than 100,000 creditors in its filing. In a statement, Genesis Global Holdco said that it is mulling to push for a potential sale or equitisation transaction to pay creditors, claiming that it had $150 million in cash to support the restructuring. FTX says Cryptos worth $415 million stolen, founder Sam Bankman-Fried says FTX is solvent On January 12, the US Securities and Exchange Commission (SEC) charged Genesis with illegally selling securities to investors through the Earn program. Genesis brokered digital assets for financial institutions such as hedge funds and asset managers and had almost $3 billion in total active loans at the end of the third quarter, down from $11.1 billion a year earlier, according to its website. Threat to Sam Bankman-Fried's life? Meanwhile, FTX founder Sam Bankman-Fried's lawyers have claimed a security threat against the 30-year-old billionaire, after a car drove into a metal barricade outside the crypto trader’s home in California. The billionaire’s lawyers in its filing in Manhattan federal court said that three men got out of the car and told a security officer guarding his home, "You won't be able to keep us out." The men, who have not been identified, then got back in the car and drove away. The lawyers, however, did not specify when the incident took place, describing it only as recent. Their brought up the incident in the court in response to a major push from the media organisations to make public the names of two people who helped guarantee Bankman-Fried's bond alongside his parents. FTX founder wants to start a new business Bankman-Fried told BBC from the Bahamas that he would “give anything” to start a new business to help his customers who lost their investments. “I’m going to be thinking about how we can help the world, and if users haven’t gotten much back, I’m going to be thinking about what I can do for them,” Bankman-Fried told the BBC. “And I think at the very least I have a duty to FTX users to do right by them as best as I can.” (With inputs from agencies) WATCH WION LIVE HERE:

Another crypto firm Genesis files for bankruptcy

&nbsp;Amazon replaced Apple as the world's top firm based on market valuation. That's despite a 15 per cent drop in its stock, with the e-commerce giant valued at $299.3 billion, according to the Brand Finance Global 500 report.&nbsp;

Apple slipped to the second spot and is now worth $297.9 billion after a 16 per cent fall in its market value. Google occupies the third spot, with its market capitalisation at $281.4 billion. &nbsp;

While the gap between these firms is only a few billion, 2023 is expected to be a tough year for the tech giants, with costs cuts including massive layoffs amidst the threat of a global recession.&nbsp;

Amazon's net worth has dipped a little over $50 billion, with the lines blurring on a rebound amidst gloomy global economic expectations and people returning to shop in person.&nbsp;Amazon's brand value has risen 36 per cent since the pandemic, with the firm expanding into new business sectors.&nbsp;

But the consultancy report showed a fall in amazon's brand strength rating as easing covid-restrictions the world over has led to shoppers returning to physical stores, weighing on online retailers.&nbsp;

The study also showed customers are now less inclined to suggest amazon to others. their view of the company's customer service has taken a hit from longer wait for deliveries.&nbsp;

On the other hand, apple's drop to the second place was primarily because of the company's projection of lower revenue from disrupted global supply chains which have resulted in a shortage of raw materials and labour.&nbsp;

While Alphabet-owned Google's net worth made it the third most valued firm, it earned the crown of being the world's strongest brand, according to the report.&nbsp;

Chinese electric vehicle maker BYD Auto emerged as the fastest-growing brand.&nbsp; 
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Amazon replaced Apple as the world's top firm based on market valuation. That's despite a 15 per cent drop in its stock, with the e-commerce giant valued at $299.

Amazon replaced Apple as the world's top firm based on market valuation. That's despite a 15 per cent drop in its stock, with the e-commerce giant valued at $299.3 billion, according to the Brand Finance Global 500 report. Apple slipped to the second spot and is now worth $297.9 billion after a 16 per cent fall in its market value. Google occupies the third spot, with its market capitalisation at $281.4 billion. While the gap between these firms is only a few billion, 2023 is expected to be a tough year for the tech giants, with costs cuts including massive layoffs amidst the threat of a global recession. Amazon's net worth has dipped a little over $50 billion, with the lines blurring on a rebound amidst gloomy global economic expectations and people returning to shop in person. Amazon's brand value has risen 36 per cent since the pandemic, with the firm expanding into new business sectors. But the consultancy report showed a fall in amazon's brand strength rating as easing covid-restrictions the world over has led to shoppers returning to physical stores, weighing on online retailers. The study also showed customers are now less inclined to suggest amazon to others. their view of the company's customer service has taken a hit from longer wait for deliveries. On the other hand, apple's drop to the second place was primarily because of the company's projection of lower revenue from disrupted global supply chains which have resulted in a shortage of raw materials and labour. While Alphabet-owned Google's net worth made it the third most valued firm, it earned the crown of being the world's strongest brand, according to the report. Chinese electric vehicle maker BYD Auto emerged as the fastest-growing brand. WATCH WION LIVE HERE:

Amazon replaces Apple as the top-valued firm 

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Global economy | Uber not planning mass layoffs: CEO

The Brexit immigration curbs have caused the United Kingdoms a shortfall of nearly about 330,000. The shortage is tying itself to the already existing labour fuelling inflation.

World Business Watch: Brexit fallout costs Britain 330,000 workers

According to a report on the news site Insider, Twitter is planning to lay off 50 workers from its product division in the coming weeks. The report cited two people at the firm familiar with the development.

Around six weeks back, the company's new boss, Elon Musk, had told staff that there won't be any more reduction in staff. If the social media platform goes ahead with firing more people, its headcount will reduce to under 2,000, according to the report.

Twitter hasn't commented on the report yet.

Ever since Musk took over Twitter in October for $44 billion, the company seems to be under financial distress. Musk has already said that the firm was facing "a massive drop in revenue" as advertisers dropped out.

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/twitter-is-auctioning-off-an-espresso-machine-a-blue-bird-and-more-553779">Twitter is auctioning off an espresso machine, a blue bird, other corporate office assets</a>

Soon after taking over, Musk fired about 50 per cent of the staff as a cost-cutting measure. He also implemented a number of product and organisational changes. The Twitter-verified Blue check-mark was rolled out as a paid service, one of the biggest and most controversial change at the company.&nbsp;

According to a New York Times report, Twitter has stopped paying millions of dollars in rent and services.

The social media giant was evicted from&nbsp;its Seattle office as it failed to pay rent.&nbsp;Janitorial and security services were cut, and in some cases, employees were bringing their own toilet paper to the office.&nbsp;

Musk was recently also sued for failing to pay the rent of a San Francisco property as well. Workers at Twitter's Asia-Pacific headquarters in Singapore were also asked to empty their desks and work remotely due to the same reason.

A few days back, Elon Musk said he spent the "last five weeks cutting costs like crazy." Musk said he laid off staff and slashed costs to save Twitter from a $3 billion hole in its budget. Staff cuts had also happened in the content moderation division, leading to fears that hate speech might surge on the platform.

Twitter's revenue for the fourth quarter fell about 35 per cent to $1.025 billion, a top ad executive revealed at a staff meeting, online publication the Information reported on Wednesday.

(With inputs from agencies)

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According to a report on the news site Insider, Twitter is planning to lay off 50 workers from its product division in the coming weeks. The report cited two people at the firm familiar with the development.

According to a report on the news site Insider, Twitter is planning to lay off 50 workers from its product division in the coming weeks. The report cited two people at the firm familiar with the development. Around six weeks back, the company's new boss, Elon Musk, had told staff that there won't be any more reduction in staff. If the social media platform goes ahead with firing more people, its headcount will reduce to under 2,000, according to the report. Twitter hasn't commented on the report yet. Ever since Musk took over Twitter in October for $44 billion, the company seems to be under financial distress. Musk has already said that the firm was facing "a massive drop in revenue" as advertisers dropped out. Also Read | Twitter is auctioning off an espresso machine, a blue bird, other corporate office assets Soon after taking over, Musk fired about 50 per cent of the staff as a cost-cutting measure. He also implemented a number of product and organisational changes. The Twitter-verified Blue check-mark was rolled out as a paid service, one of the biggest and most controversial change at the company. According to a New York Times report, Twitter has stopped paying millions of dollars in rent and services. The social media giant was evicted from its Seattle office as it failed to pay rent. Janitorial and security services were cut, and in some cases, employees were bringing their own toilet paper to the office. Musk was recently also sued for failing to pay the rent of a San Francisco property as well. Workers at Twitter's Asia-Pacific headquarters in Singapore were also asked to empty their desks and work remotely due to the same reason. A few days back, Elon Musk said he spent the "last five weeks cutting costs like crazy." Musk said he laid off staff and slashed costs to save Twitter from a $3 billion hole in its budget. Staff cuts had also happened in the content moderation division, leading to fears that hate speech might surge on the platform. Twitter's revenue for the fourth quarter fell about 35 per cent to $1.025 billion, a top ad executive revealed at a staff meeting, online publication the Information reported on Wednesday. (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.

Twitter might fire more employees in the coming weeks: Report

Chinese billionaire Hui Ka Yan's wealth has diminished to $3 billion from $42 billion in 2017-2018, Bloomberg Billionaire Index showed. The chairman of the China Evergrande Group, once the second richest person in Asia, was known to be the bridge between the Chinese elite's world of business and the country’s political power centres.

The Bloomberg Billionaire Index further showed that China’s five richest property tycoons lost about $65 billion combined in the past two years.&nbsp;

Hui Ka Yan’s lost fortune has been attributed to China’s credit crunch that made the country's real estate business the biggest casualty amid the crisis stoked by COVID-19 pandemic and Beijing’s authoritarian restrictions that choked growth of businesses in the country.

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/china-evergrande-chairman-yans-hong-kong-mansion-seized-by-ccb-over-dues-530971">China: Evergrande chairman Hui Ka Yan's Hong Kong mansion seized by CCB over dues</a>

In Evergrande group, Hui Ka Yan currently helms over one of China’s biggest and most indebted real estate developers. The company has over 800 projects in more than 280 cities in China and beyond but is struggling to repay $300 billion in liabilities.

Hui Ka Yan’s lost fortune: Ditched by the Communist Party elite?

Since 2008, Hui had been part of the Chinese People’s Political Consultative Conference (CPPCC) – the upper house of Chinese Communist Party’s Politburo – consisting of a 300-member elite group with government officials and business tycoons as its members.&nbsp;

ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/wion-business-news-chinas-evergrande-loses-770-million-in-hong-kong-deal-531789">WION Business News | China's Evergrande loses $770 million in Hong Kong deal</a>

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CPPCC acts as an advisory body to the National People’s Congress (the legislature) in Beijing. But unlike the upper houses of traditional democracies (such as India's Rajya Sabha) they are known to function as nominal bodies, rarely turning down government bills. CPPCC’s annual convention, however, provides a small but confined space for debate within Beijing’s power centres. The group dwells upon everything from political and social issues to new laws and the nation’s growth.

Hui Ka Yan excluded from CPPCC&nbsp;

Hui was told to not attend CPPCC annual convention in March 2022.&nbsp;He has now been excluded from the latest list of the individuals who will form the CPPCC for the next five years. At least five other prominent real estate industrialists were excluded from the CPPCC listing, Bloomberg reported.&nbsp;

The new CPPCC members will meet in Beijing in March for the group’s 14th National Committee.&nbsp;

President Xi Jinping’s “common prosperity” drive to redistribute wealth has led to cracks in several industries. For the real estate sector, the imposition of a strict “three red lines” policy to reduce debt has furthered a crisis that’s affecting banks, trust firms and millions of homeowners.

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Chinese billionaire Hui Ka Yan's wealth has diminished to $3 billion from $42 billion in 2017-2018, Bloomberg Billionaire Index showed. The chairman of the China Evergrande Group, once the second richest person in Asia, was known to be the bridge between the Chinese elite's world of business and the country’s political power centres.

Chinese billionaire Hui Ka Yan's wealth has diminished to $3 billion from $42 billion in 2017-2018, Bloomberg Billionaire Index showed. The chairman of the China Evergrande Group, once the second richest person in Asia, was known to be the bridge between the Chinese elite's world of business and the country’s political power centres. The Bloomberg Billionaire Index further showed that China’s five richest property tycoons lost about $65 billion combined in the past two years. Hui Ka Yan’s lost fortune has been attributed to China’s credit crunch that made the country's real estate business the biggest casualty amid the crisis stoked by COVID-19 pandemic and Beijing’s authoritarian restrictions that choked growth of businesses in the country. ALSO READ | China: Evergrande chairman Hui Ka Yan's Hong Kong mansion seized by CCB over dues In Evergrande group, Hui Ka Yan currently helms over one of China’s biggest and most indebted real estate developers. The company has over 800 projects in more than 280 cities in China and beyond but is struggling to repay $300 billion in liabilities. Hui Ka Yan’s lost fortune: Ditched by the Communist Party elite? Since 2008, Hui had been part of the Chinese People’s Political Consultative Conference (CPPCC) – the upper house of Chinese Communist Party’s Politburo – consisting of a 300-member elite group with government officials and business tycoons as its members. ALSO WATCH | WION Business News | China's Evergrande loses $770 million in Hong Kong deal × CPPCC acts as an advisory body to the National People’s Congress (the legislature) in Beijing. But unlike the upper houses of traditional democracies (such as India's Rajya Sabha) they are known to function as nominal bodies, rarely turning down government bills. CPPCC’s annual convention, however, provides a small but confined space for debate within Beijing’s power centres. The group dwells upon everything from political and social issues to new laws and the nation’s growth. Hui Ka Yan excluded from CPPCC Hui was told to not attend CPPCC annual convention in March 2022. He has now been excluded from the latest list of the individuals who will form the CPPCC for the next five years. At least five other prominent real estate industrialists were excluded from the CPPCC listing, Bloomberg reported. The new CPPCC members will meet in Beijing in March for the group’s 14th National Committee. President Xi Jinping’s “common prosperity” drive to redistribute wealth has led to cracks in several industries. For the real estate sector, the imposition of a strict “three red lines” policy to reduce debt has furthered a crisis that’s affecting banks, trust firms and millions of homeowners. 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.

Ditched by Communist Party, Chinese billionaire loses 93 per cent of his fortune

US&nbsp;authorities said on Wednesday that they have arrested the majority shareholder and cofounder of Hong Kong-registered virtual currency exchange&nbsp;Bitzlato&nbsp;Ltd for allegedly processing $700 million in illicit funds.&nbsp;Anatoly Legkodymov, a Russian national living in China, was arrested in Miami on Tuesday on charges that he operated the exchange as an unlicensed money exchange business that "in his own words, catered to 'known crooks'," a top Justice Department official said.

Prosecutors said&nbsp;Bitzlato&nbsp;exchanged more than $700 million in cryptocurrency with Hydra Market, which they described as an illicit online marketplace for narcotics, stolen financial information, fraudulent identification documents and money laundering services that US&nbsp;and German law enforcement shut down in April 2022.

"Whether you break our laws from China or Europe or abuse our financial system from a tropical island — you can expect to answer for your crimes inside a United States courtroom," Deputy Attorney General Lisa Monaco told reporters at a news conference at the Justice Department.

Bitzlato&nbsp;also received more than $15 million in ransomware proceeds, prosecutors said. It was not immediately possible to contact Hydra Market for comment.

“Despite it being a small name, it carries a lot of weight," said Chen Arad, the chief operating officer at Solidus Labs, a crypto market surveillance company.

"Small actors are not safe and they carry just as much risk as any big-name exchange (or) platform," he said.

Authorities described Legkodymov as the cryptocurrency exchange's cofounder, saying the 40-year-old Russian helped run the company from the Chinese city of Shenzhen. Legkodymov did not immediately respond to an email with questions, and messages left on&nbsp;Bitzlato's automated Telegram support chat service were answered with the phrase, "Oops, sorry."

Bitzlato&nbsp;has processed $4.58 billion worth of cryptocurrency transactions since May 3, 2018, prosecutors said, adding a substantial portion constitutes "the proceeds of crime".

It also broke rules requiring significant vetting of customers and failed to meet requirements aimed at preventing money laundering, authorities said. Archived versions of&nbsp;Bitzlato's website noted that the site's clients could register using "only your email".

Prosecutors said&nbsp;Bitzlato&nbsp;knowingly serviced US&nbsp;customers and conducted transactions with U.S.-based exchanges using US&nbsp;online infrastructure. For at least some period of time, it was being managed by the defendant while he was in the United States, they said.

The charges were filed in conjunction with the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN), which said it has prohibited certain transmittals of funds involving&nbsp;Bitzlato&nbsp;by any covered financial institution after labelling&nbsp;Bitzlato&nbsp;Ltd a "primary money laundering concern" related to Russian illicit finance.

"Identifying&nbsp;Bitzlato&nbsp;as a primary money laundering concern effectively renders the exchange an international pariah," Deputy Treasury Secretary Wally Adeyemo said at the news conference.

Adeyemo said&nbsp;Bitzlato&nbsp;has repeatedly facilitated transactions for Russian-affiliated ransomware groups, including the gang behind Conti, which he said has links to the Russian government and Russia-connected Dark Net markets.

Cari Stinebower, a former Treasury Department official now a partner at law firm Winston &amp; Strawn, said the penalties imposed are akin to those under Section 311 of the US&nbsp;Patriot Act and will make&nbsp;Bitzlato&nbsp;untouchable by US&nbsp;and foreign banks.

"None of the mainstream financial institutions will deal with an entity identified as a primary money laundering concern," she said.

"While US&nbsp;financial institutions will refuse to engage in business with&nbsp;Bitzlato, (one would expect that) other financial institutions will follow suit," she added. "The impact will be to freeze&nbsp;Bitzlato&nbsp;out of the global financial sector almost immediately."

By midday Wednesday,&nbsp;Bitzlato's website was replaced by a notice saying that the service had been seized by French authorities "as part of a coordinated international law enforcement action."

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US authorities said on Wednesday that they have arrested the majority shareholder and cofounder of Hong Kong-registered virtual currency exchange Bitzlato Ltd for allegedly processing $700 million in illicit funds.

US authorities said on Wednesday that they have arrested the majority shareholder and cofounder of Hong Kong-registered virtual currency exchange Bitzlato Ltd for allegedly processing $700 million in illicit funds. Anatoly Legkodymov, a Russian national living in China, was arrested in Miami on Tuesday on charges that he operated the exchange as an unlicensed money exchange business that "in his own words, catered to 'known crooks'," a top Justice Department official said. Prosecutors said Bitzlato exchanged more than $700 million in cryptocurrency with Hydra Market, which they described as an illicit online marketplace for narcotics, stolen financial information, fraudulent identification documents and money laundering services that US and German law enforcement shut down in April 2022. "Whether you break our laws from China or Europe or abuse our financial system from a tropical island — you can expect to answer for your crimes inside a United States courtroom," Deputy Attorney General Lisa Monaco told reporters at a news conference at the Justice Department. Bitzlato also received more than $15 million in ransomware proceeds, prosecutors said. It was not immediately possible to contact Hydra Market for comment. “Despite it being a small name, it carries a lot of weight," said Chen Arad, the chief operating officer at Solidus Labs, a crypto market surveillance company. "Small actors are not safe and they carry just as much risk as any big-name exchange (or) platform," he said. Authorities described Legkodymov as the cryptocurrency exchange's cofounder, saying the 40-year-old Russian helped run the company from the Chinese city of Shenzhen. Legkodymov did not immediately respond to an email with questions, and messages left on Bitzlato's automated Telegram support chat service were answered with the phrase, "Oops, sorry." Bitzlato has processed $4.58 billion worth of cryptocurrency transactions since May 3, 2018, prosecutors said, adding a substantial portion constitutes "the proceeds of crime". It also broke rules requiring significant vetting of customers and failed to meet requirements aimed at preventing money laundering, authorities said. Archived versions of Bitzlato's website noted that the site's clients could register using "only your email". Prosecutors said Bitzlato knowingly serviced US customers and conducted transactions with U.S.-based exchanges using US online infrastructure. For at least some period of time, it was being managed by the defendant while he was in the United States, they said. The charges were filed in conjunction with the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN), which said it has prohibited certain transmittals of funds involving Bitzlato by any covered financial institution after labelling Bitzlato Ltd a "primary money laundering concern" related to Russian illicit finance. "Identifying Bitzlato as a primary money laundering concern effectively renders the exchange an international pariah," Deputy Treasury Secretary Wally Adeyemo said at the news conference. Adeyemo said Bitzlato has repeatedly facilitated transactions for Russian-affiliated ransomware groups, including the gang behind Conti, which he said has links to the Russian government and Russia-connected Dark Net markets. Cari Stinebower, a former Treasury Department official now a partner at law firm Winston & Strawn, said the penalties imposed are akin to those under Section 311 of the US Patriot Act and will make Bitzlato untouchable by US and foreign banks. "None of the mainstream financial institutions will deal with an entity identified as a primary money laundering concern," she said. "While US financial institutions will refuse to engage in business with Bitzlato, (one would expect that) other financial institutions will follow suit," she added. "The impact will be to freeze Bitzlato out of the global financial sector almost immediately." By midday Wednesday, Bitzlato's website was replaced by a notice saying that the service had been seized by French authorities "as part of a coordinated international law enforcement action." 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.

US arrests crypto exchange Bitzlato cofounder on charges of laundering $700 million illicit funds

Champagne sales in 2022 reached a record high of more than 6.5 billion USD,&nbsp;primarily due to the fading Covid pandemic, as per industry experts.&nbsp;As projected by the trade association, Comite Champagne, the industry's double-digit sales growth from 5.9 billion USD in 2021 was partly a result of its shift upmarket and introduction of more expensive vintage champagnes.

In 2022 "it naturally accompanied consumers throughout the world as they rejoiced at the end of lockdowns and found the taste again for celebrating, going out, travelling," said David Chatillon, co-president of the Comite Champagne who spoke to AFP.&nbsp;

At the height of the pandemic lockdowns in 2020, sales had fallen to 244 million bottles.

Also read |&nbsp;<a href="https://www.wionews.com/trending/two-drinks-per-week-dry-january-canadas-new-recommendation-for-alcohol-consumption-553862/amp">Two drinks per week, dry January: Canada's new recommendation for alcohol consumption</a>

While domestic sales fell 1.7 per cent, exports increased by 4.3 per cent in volume to 187.5 million bottles.

Exports now make up 57 per cent&nbsp;of sales, compared to 45 per cent&nbsp;a decade earlier, as reported by AFP.&nbsp;

Due to the market's annual volume of fewer than two million bottles, the suspension of shipments to Russia had little effect.

(With inputs from agencies)

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Champagne sales in 2022 reached a record high of more than 6.5 billion USD, primarily due to the fading Covid pandemic, as per industry experts. As projected by the trade association, Comite Champagne, the industry's double-digit sales growth from 5.

Champagne sales in 2022 reached a record high of more than 6.5 billion USD, primarily due to the fading Covid pandemic, as per industry experts. As projected by the trade association, Comite Champagne, the industry's double-digit sales growth from 5.9 billion USD in 2021 was partly a result of its shift upmarket and introduction of more expensive vintage champagnes. In 2022 "it naturally accompanied consumers throughout the world as they rejoiced at the end of lockdowns and found the taste again for celebrating, going out, travelling," said David Chatillon, co-president of the Comite Champagne who spoke to AFP. At the height of the pandemic lockdowns in 2020, sales had fallen to 244 million bottles. Also read | Two drinks per week, dry January: Canada's new recommendation for alcohol consumption While domestic sales fell 1.7 per cent, exports increased by 4.3 per cent in volume to 187.5 million bottles. Exports now make up 57 per cent of sales, compared to 45 per cent a decade earlier, as reported by AFP. Due to the market's annual volume of fewer than two million bottles, the suspension of shipments to Russia had little effect. (With inputs from agencies) WATCH WION LIVE HERE:

Champagne sales hit record high in 2022; growth attributed to waning Covid

Follow for all the updates from the World Economic Forum meeting in Davos 2023

World economy LIVE Updates | UK inflation slows in December but is still at high levels

With the number one cryptocurrency, Bitcoin, clocking at 26% increase in Ether, rising by about 29%. The value of the overall global cryptocurrency market is now again over one Trillion dollars after the big crypto crash last year.

Cryptoverse looks at good start to the year, Bitcoin jumps 26% in January

Activist investor Ryan Cohen likely to be in conflict with Beijing after taking on Alibaba group, the billionaire is popular among the meme crowd after he forced his way onto the GameStop board.

Activist investor Ryan Cohen likely to be in conflict with Beijing after taking on Alibaba group

India's automobile giant Maruti Suzuki on Wednesday said that it is recalling over 17,000&nbsp;vehicles manufactured between 08 December 2022 and January 12, 2023, over a possible defect in its airbag controller.&nbsp;&nbsp;

The company in its statement said, "the Company has announced to recall a total of 17,362 vehicles manufactured between 8 December 2022 and 12 January, 2023. The affected models are Alto K10, S-Presso, Eeco,Brezza, Baleno and Grand Vitara."&nbsp;

<a href="https://www.wionews.com//business-economy/japanese-automaker-subaru-recalls-271000-vehicles-over-high-risk-of-combustion-542979">Also read |&nbsp;Japanese automaker Subaru recalls 271,000 vehicles over high risk of fire, cautions owners</a>

The statement further added that the recall is being undertaken to inspect and replace the Airbag Controller (affected part) free of cost in case of defects, Mint reported.

The company said that if there is any defect, it might result in the non-deployment of the airbags and seat belt pretensioners at the time of a car crash.&nbsp;

The affected customers will be contacted by the automobile giant for authorised workshops and action. As of now, they are advised to not drive or use their respective vehicles till the affected part is replaced.&nbsp;

The recall comes after Maruti Suzuki India on Monday announced that it has increased the prices of its vehicles by almost 1.1 per cent. This is the second price hike undertaken by the carmaker in the ongoing fiscal year.&nbsp;

<a href="https://www.wionews.com/business-economy/after-japans-subaru-now-us-general-motors-recalls-825000-trucks-and-suvs-543231">Also read |&nbsp;After Japan's Subaru, now US' General Motors recalls 825,000 trucks and SUVs</a>

Similarly, Japanese automaker Subaru and US General Motors also recalled thousands of vehicles with suspected defects in the cars.&nbsp;

Subaru recalled some 271,000 vehicles over the high risk of fire.&nbsp;

The US's&nbsp;largest automobile manufacturer, General Motors recalled almost 825,000 vehicles, 740,000 from US and 85,000 from Canada over headlight issues.

(With inputs from agencies)&nbsp;

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India's automobile giant Maruti Suzuki on Wednesday said that it is recalling over 17,000 vehicles manufactured between 08 December 2022 and January 12, 2023, over a possible defect in its airbag controller.

India's automobile giant Maruti Suzuki on Wednesday said that it is recalling over 17,000 vehicles manufactured between 08 December 2022 and January 12, 2023, over a possible defect in its airbag controller. The company in its statement said, "the Company has announced to recall a total of 17,362 vehicles manufactured between 8 December 2022 and 12 January, 2023. The affected models are Alto K10, S-Presso, Eeco,Brezza, Baleno and Grand Vitara." Also read | Japanese automaker Subaru recalls 271,000 vehicles over high risk of fire, cautions owners The statement further added that the recall is being undertaken to inspect and replace the Airbag Controller (affected part) free of cost in case of defects, Mint reported. The company said that if there is any defect, it might result in the non-deployment of the airbags and seat belt pretensioners at the time of a car crash. The affected customers will be contacted by the automobile giant for authorised workshops and action. As of now, they are advised to not drive or use their respective vehicles till the affected part is replaced. The recall comes after Maruti Suzuki India on Monday announced that it has increased the prices of its vehicles by almost 1.1 per cent. This is the second price hike undertaken by the carmaker in the ongoing fiscal year. Also read | After Japan's Subaru, now US' General Motors recalls 825,000 trucks and SUVs Similarly, Japanese automaker Subaru and US General Motors also recalled thousands of vehicles with suspected defects in the cars. Subaru recalled some 271,000 vehicles over the high risk of fire. The US's largest automobile manufacturer, General Motors recalled almost 825,000 vehicles, 740,000 from US and 85,000 from Canada over headlight issues. (With inputs from agencies) WATCH WION LIVE HERE

India's Maruti Suzuki recalls more than 17,000 vehicles over possible airbag controller defect

Tesla is in trouble for a 2016 video by Tesla showcasing its self-driving technology has come into question after senior engineer's testimony claiming that the video was staged. The video is still available on Tesla's website shows the car navigating itself while the driver is seen not doing anything.

World Business Watch | Tesla under investigation: Video on self-driving staged, testifies engineer

Streaming platform Netflix is all set to record its lowest quarterly revenue growth this Thursday as its ad supported plan struggles to attract customers in the saturating US market. The situation is adding pressure on the company to pull back on content.

Netflix set for its slowest revenue growth, company records 4.5 million subscribers in Q4

As the company traded ex-dividend on Monday, January 16, TCS's share price fell 2% in early morning dealings. The largest IT business in India saw its shares trade at Rs 3304 a share at 9:25 AM, down Rs 70 or 2.06%. A stock trades without the benefit of a dividend or any other company action on the ex-date.&nbsp;Check TCS share price NSE, record date, payment date, dividend history and everything you need to know. Also know about the Q3 results, target 2023 and share price history.&nbsp;

<h2>TCS Dividend Per Share&nbsp;&nbsp;</h2>

TCS announced a special dividend of Rs 67 per equity share of Re 1 and a third interim dividend of Rs 8 along with its Q3FY23 results. It indicates that TCS would give its stockholders a dividend of Rs. 75. The company in an exchange filing earlier said that they would like to inform everyone that at the Board Meeting the directors have declared a third interim dividend of Rs 8 and a special dividend of Rs 67 per Equity Share of Re 1 each of the company.&nbsp;

<h2>TCS Dividend Record Date 2023</h2>

For the payment of the interim dividend and special dividend, TCS has established a fixed record date. The record date for assessing a shareholder's eligibility for the payment of Rs 75 in dividends is January 17, 2023, according to data on the BSE website. The company in its exchange filing said that the third interim dividend and the special dividend shall be paid on Friday, February 3, 2023, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Tuesday, January 17, 2023, which is the Record Date fixed for the purpose.&nbsp;

<h2>TCS Dividend Payment Date</h2>

On the day of payment, the dividend sum will be instantly credited to the shareholders' bank accounts that are connected to their Demat accounts. It will be paid on February 3, 2023. The company said that the third interim dividend and the special dividend shall be paid on Friday, February 3, 2023, to the equity shareholders of the Company, "the company said.

<h2>TCS Q3 Results</h2>

TCS reported an 11% increase in net profit for the December quarter to Rs 10,846 crore, driven by overall growth and favourable foreign exchange rates. In the prior fiscal year, the Tata Group firm generated a post-tax net profit of Rs 9,769 crore.

<h2>TCS Target 2023</h2>

<img alt="TCS target " data-entity-type="file" data-entity-uuid="0daa17c4-10d1-4e99-907b-a2edf593dadb" src="//cdn.wionews.com/sites/default/files/inline-images/TCSSS_0.png" />

<h2>TCS Share Price History NSE</h2>

TCS shares have given investors a return of almost 8% during the last six months. The 52-week range for the stock is between Rs. 4,043.00 and Rs. 2,926.10. At the current market price, the business has a market capitalization of Rs. 12.14 lakh crore.

As the company traded ex-dividend on Monday, January 16, TCS's share price fell 2% in early morning dealings. The largest IT business in India saw its shares trade at Rs 3304 a share at 9:25 AM, down Rs 70 or 2.

As the company traded ex-dividend on Monday, January 16, TCS's share price fell 2% in early morning dealings. The largest IT business in India saw its shares trade at Rs 3304 a share at 9:25 AM, down Rs 70 or 2.06%. A stock trades without the benefit of a dividend or any other company action on the ex-date. Check TCS share price NSE, record date, payment date, dividend history and everything you need to know. Also know about the Q3 results, target 2023 and share price history. TCS Dividend Per Share TCS announced a special dividend of Rs 67 per equity share of Re 1 and a third interim dividend of Rs 8 along with its Q3FY23 results. It indicates that TCS would give its stockholders a dividend of Rs. 75. The company in an exchange filing earlier said that they would like to inform everyone that at the Board Meeting the directors have declared a third interim dividend of Rs 8 and a special dividend of Rs 67 per Equity Share of Re 1 each of the company. TCS Dividend Record Date 2023 For the payment of the interim dividend and special dividend, TCS has established a fixed record date. The record date for assessing a shareholder's eligibility for the payment of Rs 75 in dividends is January 17, 2023, according to data on the BSE website. The company in its exchange filing said that the third interim dividend and the special dividend shall be paid on Friday, February 3, 2023, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Tuesday, January 17, 2023, which is the Record Date fixed for the purpose. TCS Dividend Payment Date On the day of payment, the dividend sum will be instantly credited to the shareholders' bank accounts that are connected to their Demat accounts. It will be paid on February 3, 2023. The company said that the third interim dividend and the special dividend shall be paid on Friday, February 3, 2023, to the equity shareholders of the Company, "the company said. TCS Q3 Results TCS reported an 11% increase in net profit for the December quarter to Rs 10,846 crore, driven by overall growth and favourable foreign exchange rates. In the prior fiscal year, the Tata Group firm generated a post-tax net profit of Rs 9,769 crore. TCS Target 2023 TCS Share Price History NSE TCS shares have given investors a return of almost 8% during the last six months. The 52-week range for the stock is between Rs. 4,043.00 and Rs. 2,926.10. At the current market price, the business has a market capitalization of Rs. 12.14 lakh crore.

TCS dividend 2023 date: TCS share price NSE, record date, payment date, dividend history all you need to know

Crypto exchange FTX, that has declared itself bankrupt, has told creditors in a report that about $415 million in cryptocurrency had been stolen in hacks. It said Tuesday that while it recovered over $5 billion in crypto, cash and liquid securities, significant shortfalls at both its international and US crypto exchanges still remain.

Blaming the shortfall to hacks, FTX said that $323 million in crypto had been hacked from FTX's international exchange and $90 million from its US exchange since it filed for bankruptcy on November 11.

However, indicted founder Sam Bankman-Fried challenged certain portions of the company's report in a blog post.

He wrote that the company's lawyers at Sullivan &amp; Cromwell had presented an "extremely misleading" picture of the company's finances and that the company has more than enough money to repay US customers.

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/how-a-secret-software-change-allowed-ftx-to-use-client-money-542963">How a secret software code change allowed FTX to (mis)use client money</a>

According to him, the customers are owed anywhere between $181 million and $497 million. Bankman-Fried doesn't have access to FTX records since stepping down as CEO in November.

Notably, he is accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, Alameda Research. Bankman-Fried has pleaded not guilty to fraud charges, and he is scheduled to face trial in October.

Sullivan and Cromwell have declined to comment on the matter. A court filing by the attorneys says that Bankman-Fried's efforts to stay involved in the company's bankruptcy proceedings were turned down by the firm.

FTX further informed that it had recovered $1.7 billion in cash, $3.5 billion in liquid cryptocurrency and $300 million in liquid securities.

"We are making progress in our efforts to maximize recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information," attorney and CEO of the firm John Ray said in a statement.

The crypto assets recovered to date include $685 million in Solana, $529 million in FTX's proprietary FTT token and $268 million in bitcoin, based on crypto prices on Nov. 11, 2022.&nbsp;

(With inputs from agencies)

&nbsp;

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Crypto exchange FTX, that has declared itself bankrupt, has told creditors in a report that about $415 million in cryptocurrency had been stolen in hacks. It said Tuesday that while it recovered over $5 billion in crypto, cash and liquid securities, significant shortfalls at both its international and US crypto exchanges still remain.

Crypto exchange FTX, that has declared itself bankrupt, has told creditors in a report that about $415 million in cryptocurrency had been stolen in hacks. It said Tuesday that while it recovered over $5 billion in crypto, cash and liquid securities, significant shortfalls at both its international and US crypto exchanges still remain. Blaming the shortfall to hacks, FTX said that $323 million in crypto had been hacked from FTX's international exchange and $90 million from its US exchange since it filed for bankruptcy on November 11. However, indicted founder Sam Bankman-Fried challenged certain portions of the company's report in a blog post. He wrote that the company's lawyers at Sullivan & Cromwell had presented an "extremely misleading" picture of the company's finances and that the company has more than enough money to repay US customers. Also Read | How a secret software code change allowed FTX to (mis)use client money According to him, the customers are owed anywhere between $181 million and $497 million. Bankman-Fried doesn't have access to FTX records since stepping down as CEO in November. Notably, he is accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, Alameda Research. Bankman-Fried has pleaded not guilty to fraud charges, and he is scheduled to face trial in October. Sullivan and Cromwell have declined to comment on the matter. A court filing by the attorneys says that Bankman-Fried's efforts to stay involved in the company's bankruptcy proceedings were turned down by the firm. FTX further informed that it had recovered $1.7 billion in cash, $3.5 billion in liquid cryptocurrency and $300 million in liquid securities. "We are making progress in our efforts to maximize recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information," attorney and CEO of the firm John Ray said in a statement. The crypto assets recovered to date include $685 million in Solana, $529 million in FTX's proprietary FTT token and $268 million in bitcoin, based on crypto prices on Nov. 11, 2022. (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.

FTX says crypto worth $415 million hacked, Bankman-Fried refutes claims

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