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Airbus has discovered that intense radiation from the sun could corrupt data crucial to flight controls in its A320 aircraft and has requested immediate modifications to thousands of aircraft. As a result, about 6,000 planes are likely to be affected, about half the global fleet of the European aerospace giant. However, most aircraft will have to undergo a simple software update.Airbus said the issue affects the A320, its best-selling aircraft, and some other models from the same design fleet, like the A318, A319 and the A321. Airbus said the problem was discovered after a recent ‘incident’ in the US involving an A320 family aircraft and apologised for disruption to passengers. The incident, which occurred on 30 October, involved a JetBlue Airways A320 making an emergency landing in Florida, after a sudden drop in altitude. At least 15 people were reportedly injured.&nbsp;The problem is that intense solar and cosmic radiation at high altitudes can affect the working of the ELAC computer, which controls the elevators and ailerons. These are aerodynamic surfaces that are used to make the aircraft pitch up or down or roll to turn.&nbsp;Also Read: <a href="https://www.wionews.com/world/quebec-s-new-secularism-law-to-ban-public-prayers-face-coverings-in-public-institutions-1764358100405">Quebec’s new secularism law to ban public prayers, face coverings in public institutions</a>&nbsp;&nbsp;

<blockquote class="twitter-tweet"><a href="https://twitter.com/hashtag/ImportantAdvisory?src=hash&amp;ref_src=twsrc%5Etfw">#ImportantAdvisory</a> We are aware of a directive from Airbus related to its A320 family aircraft currently in-service across airline operators. This will result in a software/hardware realignment on a part of our fleet, leading to longer turnaround time and delays to our…&mdash; Air India (@airindia) <a href="https://twitter.com/airindia/status/1994484562437836873?ref_src=twsrc%5Etfw">November 28, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;&nbsp;&nbsp;The issue can be addressed using a relatively simple software update on around 5,100 Airbus planes, but the older versions will need some new hardware also and will need to be taken out of service for modification.Airbus has apologised saying it acknowledges that this will lead to “operational disruption to passengers and customers”.&nbsp;Also Read: <a href="https://www.wionews.com/world/italy-unveils-michelangelo-dome-air-defence-system-as-shield-against-modern-threats-1764353684898">Italy unveils ‘Michelangelo Dome’ air defence system as shield against modern threats</a><h2>Airbus directive could lead to flight delays: Air India</h2>&nbsp;Air India said the directive from Airbus could lead to delays. In a post on X, Air India said, “We are aware of a directive from Airbus related to its A320 family aircraft currently in-service across airline operators. This will result in a software/hardware realignment on a part of our fleet, leading to longer turnaround time and delays to our scheduled operations. Air India regrets any inconvenience this may cause to passengers till the reset is carried out across the fleet.”&nbsp;The Civil Aviation Authority (CAA), the UK’s aviation regulator, said the request from Airbus would “likely to mean that unfortunately there may be some disruption and cancellations to flights”.“Passengers should check with their airline whether their flights are affected. Airlines have a duty of care to look after passengers when a flight is delayed,” said Giancarlo Buono, director of aviation safety at CAA.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/india-s-q2-gdp-grows-at-8-2-highest-in-six-quarters-despite-trump-tariffs-1764333228141">India’s Q2 GDP grows at 8.2%, highest in six quarters, despite Trump tariffs</a>&nbsp;The A320 aircraft are “fly by wire” planes in which there is no direct mechanical link between the controls in the cockpit and the parts of the aircraft that actually govern flight. The pilot’s actions are interpreted by computers, which actually “fly” the plane.The manufacturer has issued an alert to all airlines, requesting them to take “immediate precautionary action…in order to implement the available software and/or hardware protection and ensure the fleet is safe to fly”.

The problem is that intense solar and cosmic radiation at high altitudes can affect the working of the ELAC computer, which controls the elevators and ailerons. These are aerodynamic surfaces that are used to make the aircraft pitch up or down or roll to turn.

Airbus has discovered that intense radiation from the sun could corrupt data crucial to flight controls in its A320 aircraft and has requested immediate modifications to thousands of aircraft. As a result, about 6,000 planes are likely to be affected, about half the global fleet of the European aerospace giant. However, most aircraft will have to undergo a simple software update. Airbus said the issue affects the A320, its best-selling aircraft, and some other models from the same design fleet, like the A318, A319 and the A321. Airbus said the problem was discovered after a recent ‘incident’ in the US involving an A320 family aircraft and apologised for disruption to passengers. The incident, which occurred on 30 October, involved a JetBlue Airways A320 making an emergency landing in Florida, after a sudden drop in altitude. At least 15 people were reportedly injured. The problem is that intense solar and cosmic radiation at high altitudes can affect the working of the ELAC computer, which controls the elevators and ailerons. These are aerodynamic surfaces that are used to make the aircraft pitch up or down or roll to turn. Also Read: Quebec’s new secularism law to ban public prayers, face coverings in public institutions

The problem is that intense solar and cosmic radiation at high altitudes can affect the working of the ELAC computer, which controls the elevators and ailerons. These are aerodynamic surfaces that are used to make the aircraft pitch up or down or roll to turn.

Airbus detects glitch in A320 family aircraft; 6,000 planes to be grounded for upgrade

Backed by robust second-quarter growth numbers, Chief Economic Advisor V Ananth Nageswaran on Friday (Nov 28) said that the Indian economy is set to cross the $4 trillion mark in the current financial year, with the economy poised to grow over 7 per cent in the financial year 2025-26. CEA Nageswaran also underlined that the Indian economy does stand out as a "relative oasis of tranquillity, stability and growth" amid the current uncertain global environment.&nbsp;Briefing the media after the release of Q2 GDP data, Nageswaran said the economy's current trajectory paves the path to surpass $4 trillion mark. India's GDP stood at $3.9 trillion at the end of March 2025, making it the world’s fifth-largest economy.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/india-s-q2-gdp-grows-at-8-2-highest-in-six-quarters-despite-trump-tariffs-1764333228141">India’s Q2 GDP grows at 8.2%, highest in six quarters, despite Trump tariffs</a>&nbsp;His comments came at a time when the economy maintained strong momentum in the July–September quarter, posting GDP growth of 8.2 per cent, well above the 5.6 per cent recorded in the same period last year and faster than the 7.8 per cent achieved in the first quarter of the current fiscal.&nbsp;India posted a strong Q2 growth number supported by an expansion in manufacturing activity at 9.1 per cent, construction surged 7.2 per cent, while services reported a two-digit growth. The GST cuts announced near Diwali aided factory output.&nbsp;Referring to Q2 figures, Nageswaran said, "outside the range of most of the optimistic estimates" of many.&nbsp;Also Read: <a href="https://www.wionews.com/business-economy/india-outperforms-us-china-and-russia-in-post-covid-era-harvard-economist-reveals-1764000747889">India outperforms US, China and Russia in post-Covid era, Harvard economist reveals</a>&nbsp;The CEA also noted that India’s macro fundamentals remain robust "The economic robustness is due to continued trust in public investment, deregulation in the union and state governments, employment-linked incentive schemes that have been announced, and continued credit support to micro, small and medium enterprises and also nano-enterprises through various schemes," Nageswaran added.&nbsp;According to the Economic Survey 2024–25, presented on January 31, India must maintain an average growth rate of about 8 per cent at constant prices for the next 10–20 years to achieve the ‘Viksit Bharat’ vision of becoming a developed nation by 2047.

Nageswaran said the economy's current trajectory paves the path to surpass $4 trillion mark. India's GDP stood at $3.9 trillion at the end of March 2025, making it the world’s fifth-largest economy.

Backed by robust second-quarter growth numbers, Chief Economic Advisor V Ananth Nageswaran on Friday (Nov 28) said that the Indian economy is set to cross the $4 trillion mark in the current financial year, with the economy poised to grow over 7 per cent in the financial year 2025-26. CEA Nageswaran also underlined that the Indian economy does stand out as a "relative oasis of tranquillity, stability and growth" amid the current uncertain global environment. Briefing the media after the release of Q2 GDP data, Nageswaran said the economy's current trajectory paves the path to surpass $4 trillion mark. India's GDP stood at $3.9 trillion at the end of March 2025, making it the world’s fifth-largest economy. Also Read: India’s Q2 GDP grows at 8.2%, highest in six quarters, despite Trump tariffs His comments came at a time when the economy maintained strong momentum in the July–September quarter, posting GDP growth of 8.2 per cent, well above the 5.6 per cent recorded in the same period last year and faster than the 7.8 per cent achieved in the first quarter of the current fiscal. India posted a strong Q2 growth number supported by an expansion in manufacturing activity at 9.1 per cent, construction surged 7.2 per cent, while services reported a two-digit growth. The GST cuts announced near Diwali aided factory output. Referring to Q2 figures, Nageswaran said, "outside the range of most of the optimistic estimates" of many. Also Read: India outperforms US, China and Russia in post-Covid era, Harvard economist reveals The CEA also noted that India’s macro fundamentals remain robust "The economic robustness is due to continued trust in public investment, deregulation in the union and state governments, employment-linked incentive schemes that have been announced, and continued credit support to micro, small and medium enterprises and also nano-enterprises through various schemes," Nageswaran added. According to the Economic Survey 2024–25, presented on January 31, India must maintain an average growth rate of about 8 per cent at constant prices for the next 10–20 years to achieve the ‘Viksit Bharat’ vision of becoming a developed nation by 2047.

Nageswaran said the economy's current trajectory paves the path to surpass $4 trillion mark. India's GDP stood at $3.9 trillion at the end of March 2025, making it the world’s fifth-largest economy.

Indian economy to cross $4 trillion mark this fiscal; GDP growth may exceed 7%: CEA Nageswaran

The Indian economy registered a robust growth in July-September, and the second quarter Gross Domestic Product (GDP) grew at 8.2% against 7.8% in the first quarter of the current financial year. The 8.2 per cent growth is also the highest in six quarters, and that too despite the early impact of Trump tariffs, as higher manufacturing output and consumption surged over the GST rate cut, offsetting the impact of US tariffs. Factories produced more in anticipation of a consumption boost due to the GST rate cut, according to data from the National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) released on Friday. The GDP growth of 8.2% in Q2 of FY 2025-26 is well above the 5.6% a year ago, higher than the 7.8% posted in the first quarter, and the highest in six quarters.&nbsp;Prime Minister Narendra Modi hailed the growth in a post on X and said it is very encouraging and reflects the impact of the government’s pro-growth policies and reforms.&nbsp;&nbsp;

<blockquote class="twitter-tweet">The 8.2% GDP growth in Q2 of 2025-26 is very encouraging. It reflects the impact of our pro-growth policies and reforms. It also reflects the hard work and enterprise of our people. Our government will continue to advance reforms and strengthen Ease of Living for every citizen.&mdash; Narendra Modi (@narendramodi) <a href="https://twitter.com/narendramodi/status/1994379410359845034?ref_src=twsrc%5Etfw">November 28, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/ukraine-rocked-by-corruption-scandal-zelensky-s-top-negotiator-raided-in-alleged-100mn-scheme-1764318846422">Ukraine rocked by corruption scandal: Zelensky’s top negotiator raided in alleged $100mn scheme</a>&nbsp;India’s GDP growth has beaten all forecasts, with manufacturing and services driving momentum and reaffirming the nation’s place as the fastest-growing major economy heading into FY26, even as the economy faced pressure from US tariffs.&nbsp;The numbers, released by the NSO, point to strong momentum led by manufacturing, construction, and a robust services sector.GDP at constant prices stood at Rs 48.63 lakh crore in the July-September quarter, up from Rs 44.94 lakh crore a year ago. Nominal GDP grew 8.7% to Rs 85.25 lakh crore.&nbsp;A significant part of the growth came from the secondary and tertiary sectors. Manufacturing expanded 9.1%, and construction grew 7.2%, while the services remained the standout performer. The tertiary sector grew 9.2%, driven by a strong 10.2% expansion in financial, real estate, and professional services.&nbsp;Also Read | <a href="https://www.wionews.com/world/-not-a-single-sane-person-would-ukraine-s-chief-negotiator-says-zelensky-will-not-cede-territory-to-russia-1764307054317">‘Not a single sane person would…’: Ukraine’s chief negotiator says Zelensky will never cede territory to Russia</a>&nbsp;The real private final consumption expenditure (PFCE) grew 7.9% in Q2, compared to 6.4% in the same period last year, signalling steady demand.However, agriculture lagged behind and grew just 3.5%, while utilities like electricity, gas and water supply grew 4.4%, reflecting a softer patch for these segments.Overall, the first half of FY26 has delivered an 8% GDP growth rate, up from 6.1% in the first half of the previous financial year.&nbsp;Also Read: <a href="https://www.wionews.com/world/hong-kong-s-deadliest-fire-in-77-years-firefighting-efforts-end-with-at-least-128-dead-alarms-failed-in-all-8-towers-1764318275611">Hong Kong’s deadliest fire in 77 years: Firefighting efforts end with at least 128 dead; alarms failed in all 8 towers</a>&nbsp;The stronger-than-expected growth bolsters India’s position as the world’s fastest-growing major economy.&nbsp;Prime Minister Narendra Modi pushed tax cuts and labour reforms to boost the domestic economy while resisting US pressure on a trade deal by lowering tariffs across key sectors, including agriculture.Earlier this year, the World Bank said India will need to grow by 7.8 per cent on average over the next 22 years to achieve its aspirations of becoming a developed country by 2047.

India’s GDP growth has beaten all forecasts, with manufacturing and services driving momentum and reaffirming the nation’s place as the fastest-growing major economy heading into FY26, even as the economy faced pressure from US tariffs.

The Indian economy registered a robust growth in July-September, and the second quarter Gross Domestic Product (GDP) grew at 8.2% against 7.8% in the first quarter of the current financial year. The 8.2 per cent growth is also the highest in six quarters, and that too despite the early impact of Trump tariffs, as higher manufacturing output and consumption surged over the GST rate cut, offsetting the impact of US tariffs. Factories produced more in anticipation of a consumption boost due to the GST rate cut, according to data from the National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) released on Friday. The GDP growth of 8.2% in Q2 of FY 2025-26 is well above the 5.6% a year ago, higher than the 7.8% posted in the first quarter, and the highest in six quarters. Prime Minister Narendra Modi hailed the growth in a post on X and said it is very encouraging and reflects the impact of the government’s pro-growth policies and reforms.

India’s GDP growth has beaten all forecasts, with manufacturing and services driving momentum and reaffirming the nation’s place as the fastest-growing major economy heading into FY26, even as the economy faced pressure from US tariffs.

India’s Q2 GDP grows at 8.2%, highest in six quarters, despite Trump tariffs

A major financial fraud has come to light in Mumbai, where a 72-year-old businessman, Bharat Harakchand Shah, was tricked into losing around Rs 35 crore by a brokerage firm, Globe Capital Market Limited. The company manipulated Shah and his wife into unauthorised trading, using their accounts over a span of four years.<h2>What happened?</h2>Shah, who runs a budget guest house for cancer patients in Parel, inherited a stock portfolio after his father’s death in 1984. Though the couple wasn’t actively involved in trading due to a lack of stock market knowledge, they decided to open a Demat and trading account with Globe Capital Markets in 2020, following a friend's recommendation.&nbsp;At first, the firm’s dealings seemed legitimate. The company reassured Shah that no further investment was needed and offered to use his shares as collateral for trades. Representatives from the firm, including two employees, Akshay Baria and Karan Siroya, were assigned to manage Shah’s portfolio. They started by providing guidance through phone calls and home visits, gradually gaining full control over the accounts.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/over-20-million-aadhaar-ids-deactivated-in-nationwide-cleanup-drive-uiadi-unique-id-1764240243230">Over 20 million Aadhaar IDs deactivated in nationwide cleanup drive</a><h2>The fraud unfolds</h2>The company’s representatives took complete control of Shah’s accounts, guiding him to place trades and even handling the technical aspects themselves. Shah, trusting the firm, complied with their instructions, entering one-time passwords (OTPs) and responding to emails and SMS without suspicion. As a result, while he received annual statements showing "profits," the reality was starkly different. Unbeknownst to him, massive trading activities had occurred on his account, leading to significant losses.<h2>Revelation of the scam</h2>The truth emerged in July 2024 when Shah was informed by Globe Capital's Risk Management Department that his accounts were in debt to the tune of Rs 35 crore. The company threatened to sell his shares unless the amount was paid immediately. When Shah visited the firm, he learned that unauthorised trading had taken place, with his shares being sold and the account pushed into loss through manipulated, circular trades.&nbsp;Facing a dire situation, Shah sold his remaining shares to clear the debt and transferred the remaining assets to another firm. It was only after reviewing his full trading history on the Globe Capital website that Shah discovered the discrepancies between the profit statements he had received and the actual trading activities. He also found out that the brokerage firm had responded to multiple notices from the NSE on his behalf, without his knowledge.<h2>Legal action</h2>The full scale of the fraud was revealed, with Shah describing it as a well-organized financial scam. He filed a First Information Report (FIR) at the Vanrai police station, accusing the firm of criminal breach of trust and cheating under Indian Penal Code sections 409 and 420. The Mumbai Police's Economic Offences Wing (EOW) has now taken over the investigation into the matter. This case highlights the risks associated with unauthorized trading and the importance of vigilance when dealing with financial institutions, especially for individuals with limited stock market knowledge.

Scam in Mumbai: 72-year-old duped of Rs 35 crore loss by brokerage firm over four years

A major financial fraud has come to light in Mumbai, where a 72-year-old businessman, Bharat Harakchand Shah, was tricked into losing around Rs 35 crore by a brokerage firm, Globe Capital Market Limited. The company manipulated Shah and his wife into unauthorised trading, using their accounts over a span of four years. What happened? Shah, who runs a budget guest house for cancer patients in Parel, inherited a stock portfolio after his father’s death in 1984. Though the couple wasn’t actively involved in trading due to a lack of stock market knowledge, they decided to open a Demat and trading account with Globe Capital Markets in 2020, following a friend's recommendation. At first, the firm’s dealings seemed legitimate. The company reassured Shah that no further investment was needed and offered to use his shares as collateral for trades. Representatives from the firm, including two employees, Akshay Baria and Karan Siroya, were assigned to manage Shah’s portfolio. They started by providing guidance through phone calls and home visits, gradually gaining full control over the accounts. Also Read: Over 20 million Aadhaar IDs deactivated in nationwide cleanup drive The fraud unfolds The company’s representatives took complete control of Shah’s accounts, guiding him to place trades and even handling the technical aspects themselves. Shah, trusting the firm, complied with their instructions, entering one-time passwords (OTPs) and responding to emails and SMS without suspicion. As a result, while he received annual statements showing "profits," the reality was starkly different. Unbeknownst to him, massive trading activities had occurred on his account, leading to significant losses. Revelation of the scam The truth emerged in July 2024 when Shah was informed by Globe Capital's Risk Management Department that his accounts were in debt to the tune of Rs 35 crore. The company threatened to sell his shares unless the amount was paid immediately. When Shah visited the firm, he learned that unauthorised trading had taken place, with his shares being sold and the account pushed into loss through manipulated, circular trades. Facing a dire situation, Shah sold his remaining shares to clear the debt and transferred the remaining assets to another firm. It was only after reviewing his full trading history on the Globe Capital website that Shah discovered the discrepancies between the profit statements he had received and the actual trading activities. He also found out that the brokerage firm had responded to multiple notices from the NSE on his behalf, without his knowledge. Legal action The full scale of the fraud was revealed, with Shah describing it as a well-organized financial scam. He filed a First Information Report (FIR) at the Vanrai police station, accusing the firm of criminal breach of trust and cheating under Indian Penal Code sections 409 and 420. The Mumbai Police's Economic Offences Wing (EOW) has now taken over the investigation into the matter. This case highlights the risks associated with unauthorized trading and the importance of vigilance when dealing with financial institutions, especially for individuals with limited stock market knowledge.

A 72-year-old Mumbai businessman was defrauded of Rs 35 crore by a brokerage firm that used his wife's account for unauthorised trading, going unnoticed for four years

For the taxpayers still waiting for their income tax refunds for FY 2024-25 (AY 2025-26), despite filing their returns months ago, we have an update. CBDT Chairman Ravi Agrawal has revealed when you can expect to get your income tax returns. The filing deadline this year was September 16, and while several refunds have already been issued, many filers are still stuck in processing. Here's all you need to know.<h2>Why are refunds delayed?</h2>CBDT Chairman Ravi Agrawal on Monday (Nov 24) said the income tax department is carrying out deeper checks on returns flagged for possible wrongful deductions claimed in certain cases. He said that "high-value" refund claims and cases "red flagged" by the system for scrutiny are being held back until verification is complete. Meanwhile, "Low-value refunds are being released. We have analysed and found that some wrong refunds or deductions were being claimed. So, this is a continuous process," said Agrawal.Also read | <a href="https://www.wionews.com/trending/the-comet-that-could-end-the-world-pakistani-mystic-s-doomsday-prophecy-predicts-humanity-dies-on-this-day-1764134021641">The comet that could end the world? Pakistani mystic’s doomsday prophecy predicts humanity DIES on this day</a>So far, refunds issued between April 1 and November 10 have dropped 18 per cent, amounting to a little over Rs 2.42 lakh crore, reveals official data from last week. Some taxpayers have also been advised to file revised returns if they left out details or made errors.Agrawal added that appeal disposal rates have improved this year, with over 40 per cent more cases cleared than last year. "We have taken a lot of steps, and our appellate authorities are working overtime to ensure that the pendency is liquidated. During prior years...because of Covid, etc., pendency got accumulated, but I may share that this year more than 40 per cent, as compared to last year, disposal has been done in appeals, and I think we will end the year with a much, much higher number of appeals disposed of."<h2>When will refunds be released?</h2>The remaining refunds are expected to be issued by the end of November or by December, Agrawal said.Also read | <a href="https://www.wionews.com/india-news/nia-arrests-faridabad-man-for-sheltering-umar-un-nabi-7th-arrest-in-red-fort-blas-case-1764139312262">NIA arrests Faridabad man for sheltering Umar Un Nabi; 7th arrest in Red Fort blast case</a><h2>Can I check my ITR refund status online?</h2>Yes, if you're one of the taxpayers who are still waiting on your return, you can check the status of your refund online through the income tax e-filing portal:1. Go to the official portal (https://www.incometax.gov.in/iec/foportal/) 2. Log in using your PAN, password and OTP. 3. Open the Refund/Demand Status tab under the e-File menu. 4. Select Assessment Year 2025-26. 5. Click View Details to see your refund status. &nbsp;

Still waiting on your ITR refund for FY24-25? CBDT has hinted at when the remaining payouts will roll out, and why some claims are taking longer than usual. Scroll for the timeline, the reason behind delays, and how to check your status.

For the taxpayers still waiting for their income tax refunds for FY 2024-25 (AY 2025-26), despite filing their returns months ago, we have an update. CBDT Chairman Ravi Agrawal has revealed when you can expect to get your income tax returns. The filing deadline this year was September 16, and while several refunds have already been issued, many filers are still stuck in processing. Here's all you need to know. Why are refunds delayed? CBDT Chairman Ravi Agrawal on Monday (Nov 24) said the income tax department is carrying out deeper checks on returns flagged for possible wrongful deductions claimed in certain cases. He said that "high-value" refund claims and cases "red flagged" by the system for scrutiny are being held back until verification is complete. Meanwhile, "Low-value refunds are being released. We have analysed and found that some wrong refunds or deductions were being claimed. So, this is a continuous process," said Agrawal. Also read | The comet that could end the world? Pakistani mystic’s doomsday prophecy predicts humanity DIES on this day So far, refunds issued between April 1 and November 10 have dropped 18 per cent, amounting to a little over Rs 2.42 lakh crore, reveals official data from last week. Some taxpayers have also been advised to file revised returns if they left out details or made errors. Agrawal added that appeal disposal rates have improved this year, with over 40 per cent more cases cleared than last year. "We have taken a lot of steps, and our appellate authorities are working overtime to ensure that the pendency is liquidated. During prior years...because of Covid, etc., pendency got accumulated, but I may share that this year more than 40 per cent, as compared to last year, disposal has been done in appeals, and I think we will end the year with a much, much higher number of appeals disposed of." When will refunds be released? The remaining refunds are expected to be issued by the end of November or by December, Agrawal said. Also read | NIA arrests Faridabad man for sheltering Umar Un Nabi; 7th arrest in Red Fort blast case Can I check my ITR refund status online? Yes, if you're one of the taxpayers who are still waiting on your return, you can check the status of your refund online through the income tax e-filing portal: 1. Go to the official portal (https://www.incometax.gov.in/iec/foportal/) 2. Log in using your PAN, password and OTP. 3. Open the Refund/Demand Status tab under the e-File menu. 4. Select Assessment Year 2025-26. 5. Click View Details to see your refund status.

Still waiting on your ITR refund for FY24-25? CBDT has hinted at when the remaining payouts will roll out, and why some claims are taking longer than usual. Scroll for the timeline, the reason behind delays, and how to check your status.

When will I get my tax refund? Will it be delayed? CBDT says it will be given on...

The Indian economy has demonstrated unparalleled resilience, with sharp recovery and sustained growth following the COVID-19 pandemic, which shook the global markets. India retained the title of the fastest-growing major economy after the pandemic, leaving behind Advanced economies like the United States, Britain and Asian giants like China and Russia to do a lot of catching up, charts and data shared by Harvard Economist Jason Furman showed.&nbsp;The chart illustrates that while major world economies are still struggling with pandemic aftershocks, India staged a sharp recovery, maintaining momentum in its market.&nbsp;Furman, in his social media post on X, shared the comparative growth chart of Real GDP relative to the Trend of Major markets, including the United States, China, the eurozone, Russia and India.

<blockquote class="twitter-tweet">How some geopolitically relevant economies are doing relative to their pre-COVID trends. <a href="https://t.co/y7059jdIei">pic.twitter.com/y7059jdIei</a>&mdash; Jason Furman (@jasonfurman) <a href="https://twitter.com/jasonfurman/status/1991910239679987830?ref_src=twsrc%5Etfw">November 21, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

The data shows India's steady rise, reaching an estimated GDP growth of +5 per cent mid 2025, making it the only major economy continuing upward trends. The chart further shows that India started its post-pandemic recovery from a low point in 2025, crossed its pre-pandemic trendline by 2022. By 2024, its growth climbed to + 3 per cent, with estimates predicting +5 per cent by the third quarter of 2025.&nbsp;Also Read: <a href="https://www.wionews.com/world/-it-is-the-only-way-elon-musk-endorses-world-s-coolest-dictator-bukele-s-brutal-crackdown-on-gangs-1763992801183">‘It is the only way,’ Elon Musk endorses ‘world’s coolest dictator’ Bukele’s brutal crackdown on gangs</a>&nbsp;Furman stressed that New Delhi's growth is not a one-time phenomenon, but it's a reflection of its structural strength. He attributed digital infrastructure, investment reforms and a stable macroeconomic environment as the main pillars pushing domestic consumption and investment. Providing India with resilience to keep its growth amid a turbulent global economic environment.<h2>Major global economies continue to struggle</h2>The post-pandemic scenario is a different story; the US was able to reach a growth rate of around 2 per cent, China is still facing issues resulting from its Zero Covid policy and real estate crisis, with its growth forecasted at 4.8 per cent for 2025, and India, on the other hand, surpassed both the markets with a rapid growth.&nbsp;Also Read: <a href="https://www.wionews.com/world/trump-says-tariff-payoff-is-coming-soon-promises-record-money-for-the-us-1763972217336">Trump promises Americans 'RECORD SETTING' tariff payoff coming soon, predicts unprecedented amount money for the US</a>&nbsp;Global rating agencies continue to remain confident in India's growth momentum. The Investment Information and Credit Rating Agency (ICRA) estimates India’s GDP growth to touch 7% per cent in the second quarter of FY 2026, following a 7.8% expansion in the first quarter.&nbsp;GVA projects 7.1%, while Moody’s predicts 7% GDP growth for 2025 and 6.4% for 2026.

Global rating agencies continue to remain confident in India’s growth momentum, while major economies reel under weak post-pandemic recoveries.

The Indian economy has demonstrated unparalleled resilience, with sharp recovery and sustained growth following the COVID-19 pandemic, which shook the global markets. India retained the title of the fastest-growing major economy after the pandemic, leaving behind Advanced economies like the United States, Britain and Asian giants like China and Russia to do a lot of catching up, charts and data shared by Harvard Economist Jason Furman showed. The chart illustrates that while major world economies are still struggling with pandemic aftershocks, India staged a sharp recovery, maintaining momentum in its market. Furman, in his social media post on X, shared the comparative growth chart of Real GDP relative to the Trend of Major markets, including the United States, China, the eurozone, Russia and India.

Global rating agencies continue to remain confident in India’s growth momentum, while major economies reel under weak post-pandemic recoveries.

India outperforms US, China and Russia in post-Covid era, Harvard economist reveals

President Donald Trump says Americans will soon see the full payoff from his sweeping tariff plan, claiming that the real financial impact has yet to be counted. In a Truth Social post, Trump on Sunday (Nov 24) insisted that the United States has already made "hundreds of billions of dollars" from tariffs imposed on foreign countries, but argued that the true gains remain obscured because many businesses stockpiled goods before the tariffs took effect.Also read | <a href="https://www.wionews.com/trending/kash-patel-blows-up-at-fbi-swat-team-for-not-playing-bodyguard-for-girlfriend-alexis-wilkins-1763970099758">Kash Patel blows up at FBI SWAT team for not playing bodyguard for girlfriend Alexis Wilkins</a><h2>Nations stockpiling to escape Trump tariffs?</h2>According to Trump, companies purchased large inventories early to avoid the higher costs, but those supplies are now running out. He said that once buyers can no longer rely on pre-tariff stock, tariff payments will surge. " That heavy inventory purchase is now, however, wearing thin, and soon Tariffs will be paid on everything they apply to, without avoidance, "predicting that "the amounts payable to the USA will SKYROCKET, over and above the already historic levels of dollars received. These payments will be RECORD SETTING, and put our Nation on a new and unprecedented course," he said.Once again referring to America s the "hottest" country in the world, he claimed that “Tariff POWER will bring America National Security and Wealth the likes of which has never been seen before.”

<h2>Congressional estimates don't agree</h2>According to The Independent, projections suggest a more modest outcome. The Congressional Budget Office has estimated that the deficit would be reduced by around 3 trillion dollars, roughly 1 trillion less than the administration initially projected, The Independent reported.Also read | <a href="https://www.wionews.com/world/one-meeting-with-trump-won-t-melt-zohran-mamdani-new-york-mayor-elect-says-potus-still-a-fascist-1763957168723">One meeting with Trump won't melt Zohran Mamdani? New York Mayor-elect says POTUS still a 'fascist'</a>Trump argued that the tariff revenue will deliver economic power and national security benefits unmatched in US history, while accusing critics of siding with "hostile foreign interests." He also said he is awaiting an upcoming Supreme Court decision tied to the policy, calling the matter "urgent and time sensitive" to continuing his agenda. &nbsp;

US President Donald Trump claims Americans will soon see massive returns from his tariff strategy, saying businesses can no longer dodge costs by stockpiling goods. He predicts revenue will skyrocket. Scroll for full story.

President Donald Trump says Americans will soon see the full payoff from his sweeping tariff plan, claiming that the real financial impact has yet to be counted. In a Truth Social post, Trump on Sunday (Nov 24) insisted that the United States has already made "hundreds of billions of dollars" from tariffs imposed on foreign countries, but argued that the true gains remain obscured because many businesses stockpiled goods before the tariffs took effect. Also read | Kash Patel blows up at FBI SWAT team for not playing bodyguard for girlfriend Alexis Wilkins Nations stockpiling to escape Trump tariffs? According to Trump, companies purchased large inventories early to avoid the higher costs, but those supplies are now running out. He said that once buyers can no longer rely on pre-tariff stock, tariff payments will surge. " That heavy inventory purchase is now, however, wearing thin, and soon Tariffs will be paid on everything they apply to, without avoidance, "predicting that "the amounts payable to the USA will SKYROCKET, over and above the already historic levels of dollars received. These payments will be RECORD SETTING, and put our Nation on a new and unprecedented course," he said. Once again referring to America s the "hottest" country in the world, he claimed that “Tariff POWER will bring America National Security and Wealth the likes of which has never been seen before.”

US President Donald Trump claims Americans will soon see massive returns from his tariff strategy, saying businesses can no longer dodge costs by stockpiling goods. He predicts revenue will skyrocket. Scroll for full story.

Trump promises Americans 'RECORD SETTING' tariff payoff coming soon, predicts unprecedented amount money for the US

It appears that the display of those stones by Pakistan Army Chief Gen Asim Munir to US President Donald Trump in September has led to some real business deals between the two countries, focused on rare earths. Since Munir and Prime Minister Shehbaz Sharif presented what media reports described as mineral samples in late September, the groundwork for a full-fledged minerals trade has begun.<h2>What did Munir show Trump?</h2>At the time of the Oval Office meeting, many netizens mockingly referred to Munir as a 'salesman'. Reports said he had shown Trump geological specimens of rare earth or critical minerals, though US sources did not confirm the exact nature of the colourful stones. The symbolic intent was clear: to highlight Pakistan’s mineral potential directly to Trump, &nbsp;when the US was seeking rare earths critical for its key industries and defence.<a href="https://www.wionews.com/videos/pakistan-army-chief-asim-munir-cozying-up-with-trump-repeats-anti-india-rhetoric-1754909040774/embed">https://www.wionews.com/videos/pakistan-army-chief-asim-munir-cozying-up-with-trump-repeats-anti-india-rhetoric-1754909040774/embed</a><h2>First shipment of Pakistan's enriched critical minerals sent to the US</h2>Now, recent reports have said that Pakistan has shipped enriched critical minerals including antimony, copper concentrate, and rare earth elements to the US. This is the first tangible development under the new US–Pakistan minerals cooperation framework, moving beyond diplomatic signalling to real trade.Earlier, Pakistan’s Frontier Works Organization and US Strategic Metals inked a deal covering the extraction and export of rare earth metals, alongside plans for value-added processing in Pakistan. A poly-metallic refinery would process critical minerals into intermediate and finished products for American buyers. The multi-hundred-million-dollar cooperation suggests that the US is looking at Pakistan as a supplementary source of critical minerals.Separately, US-listed Nova Minerals has signed a strategic MoU with Pakistani company Himalayan Earth Exploration (HEE). The focus is on exploration, technology transfer, capacity building, and trade in high-tech metals including antimony, gold, and rare earth elements. The initial investment could run into hundreds of millions of dollars, according to Nova’s CEO.Also read: <a href="https://www.wionews.com/trending/pakistan-army-chief-or-shopkeeper-asim-munir-ridiculed-for-rare-earth-minerals-photo-op-with-trump-watch-1759380620882">Pakistan Army chief or shopkeeper? Asim Munir ridiculed for rare earth minerals photo-op with Trump. Watch</a><h2>Rare earths and critical mineral capacity of Pakistan</h2>Pakistan could emerge as a significant supplier of critical minerals for the US and beyond. Rare earth element concentrations are estimated up to 1,400 mg/kg in parts of the northern Himalayan and Karakoram belts. Light rare earths more abundant than heavy ones at roughly three to one ratio. Pakistan also holds significant quantities of antimony, copper, gold, tungsten, lithium, cobalt, and other strategic minerals. Most of these resources remain untapped, with an estimated total mineral wealth of up to US$68 trillion.<h2>Should India be worried about US–Pakistan rare earths cooperation?</h2>Indian strategic and official circles are closely monitoring the growing US–Pakistan minerals cooperation. A sustained minerals corridor linking Pakistan and the US could boost Pakistan’s economic capacity and create a strategic safeguard for the US to secure these assets. India, meanwhile, has its own mineral cooperation frameworks with the US, so a major shift in US focus towards Pakistan is unlikely in the near term.Diversifying critical mineral supply chains is a strategic priority for the US. Pakistan’s emerging minerals sector offers an attractive supplementary source for the US. For Pakistan, the partnership promises technology transfer, foreign investment, and trade opportunities in value-added mineral processing.Also read: <a href="https://www.wionews.com/world/trump-calls-asim-munir-shehbaz-sharif-great-people-says-he-can-quickly-solve-afghanistan-pakistan-conflict-1761460929371">Trump calls Asim Munir, Shehbaz Sharif 'great people,' says he can 'quickly solve' Afghanistan-Pakistan conflict</a><h2>Pakistan still faces hurdles in rare earths trade</h2>Environmental concerns, regulatory gaps, and limited processing capacity remain challenges for Pakistan in exploration and refining of rare earths.&nbsp;But if Pakistan overcomes these, the cooperation with US could evolve into a stable mineral supply chain with lasting strategic significance.&nbsp;

Pakistan-US rare earths trade has begun in earnest, couple of months after Asim Munir showed a case full of stones to Trump. What are the key deals? Should India worry?



It appears that the display of those stones by Pakistan Army Chief Gen Asim Munir to US President Donald Trump in September has led to some real business deals between the two countries, focused on rare earths. Since Munir and Prime Minister Shehbaz Sharif presented what media reports described as mineral samples in late September, the groundwork for a full-fledged minerals trade has begun. What did Munir show Trump? At the time of the Oval Office meeting, many netizens mockingly referred to Munir as a 'salesman'. Reports said he had shown Trump geological specimens of rare earth or critical minerals, though US sources did not confirm the exact nature of the colourful stones. The symbolic intent was clear: to highlight Pakistan’s mineral potential directly to Trump, when the US was seeking rare earths critical for its key industries and defence. https://www.wionews.com/videos/pakistan-army-chief-asim-munir-cozying-up-with-trump-repeats-anti-india-rhetoric-1754909040774/embed First shipment of Pakistan's enriched critical minerals sent to the US Now, recent reports have said that Pakistan has shipped enriched critical minerals including antimony, copper concentrate, and rare earth elements to the US. This is the first tangible development under the new US–Pakistan minerals cooperation framework, moving beyond diplomatic signalling to real trade. Earlier, Pakistan’s Frontier Works Organization and US Strategic Metals inked a deal covering the extraction and export of rare earth metals, alongside plans for value-added processing in Pakistan. A poly-metallic refinery would process critical minerals into intermediate and finished products for American buyers. The multi-hundred-million-dollar cooperation suggests that the US is looking at Pakistan as a supplementary source of critical minerals. Separately, US-listed Nova Minerals has signed a strategic MoU with Pakistani company Himalayan Earth Exploration (HEE). The focus is on exploration, technology transfer, capacity building, and trade in high-tech metals including antimony, gold, and rare earth elements. The initial investment could run into hundreds of millions of dollars, according to Nova’s CEO. Also read: Pakistan Army chief or shopkeeper? Asim Munir ridiculed for rare earth minerals photo-op with Trump. Watch Rare earths and critical mineral capacity of Pakistan Pakistan could emerge as a significant supplier of critical minerals for the US and beyond. Rare earth element concentrations are estimated up to 1,400 mg/kg in parts of the northern Himalayan and Karakoram belts. Light rare earths more abundant than heavy ones at roughly three to one ratio. Pakistan also holds significant quantities of antimony, copper, gold, tungsten, lithium, cobalt, and other strategic minerals. Most of these resources remain untapped, with an estimated total mineral wealth of up to US$68 trillion. Should India be worried about US–Pakistan rare earths cooperation? Indian strategic and official circles are closely monitoring the growing US–Pakistan minerals cooperation. A sustained minerals corridor linking Pakistan and the US could boost Pakistan’s economic capacity and create a strategic safeguard for the US to secure these assets. India, meanwhile, has its own mineral cooperation frameworks with the US, so a major shift in US focus towards Pakistan is unlikely in the near term. Diversifying critical mineral supply chains is a strategic priority for the US. Pakistan’s emerging minerals sector offers an attractive supplementary source for the US. For Pakistan, the partnership promises technology transfer, foreign investment, and trade opportunities in value-added mineral processing. Also read: Trump calls Asim Munir, Shehbaz Sharif 'great people,' says he can 'quickly solve' Afghanistan-Pakistan conflict Pakistan still faces hurdles in rare earths trade Environmental concerns, regulatory gaps, and limited processing capacity remain challenges for Pakistan in exploration and refining of rare earths. But if Pakistan overcomes these, the cooperation with US could evolve into a stable mineral supply chain with lasting strategic significance.

Pakistan-US rare earths trade has begun in earnest, couple of months after Asim Munir showed a case full of stones to Trump. What are the key deals? Should India worry?&nbsp;

Asim Munir showed Trump those stones. Now, Pak-US rare earths trade is on. Should this worry India?

Laptops are back, with better AI chips that enable online work without having to download software for once heavy-duty tasks like video and music production. The global laptop market is slowly recovering after turbulence. The new generation of AI processors is reviving consumer interest. But there are hurdles: Prices are up as production costs is rising due to supply chain constraints, component shortage, and geopolitical tensions.&nbsp;<h2>Laptop shipments fell sharply in 2022-2023 after pandemic boom</h2>After many years of struggle that saw big players like IBM, Sony and Toshiba exiting the PC market in the 2010s, there was a boom during the Covid pandemic, accelerated by work from home. As the lockdowns ended, personal laptops saw one of the steepest corrections in the industry’s recent history. In 2024, the market stabilised with a modest annual growth of about 1.3 per cent. According to a Canalys estimate, total PC shipments (out of which up to 85 per cent are laptops), rose to roughly 255 million units in 2024, up nearly 4 per cent. This broke an eight-quarter streak of declines. Lenovo, HP and Dell together accounted for more than 60 per cent of these shipments. This was helped by continuing patterns of hybrid work, and as fleets of devices purchased in the pandemic's early years crossed their refresh cycle.<a href="https://www.wionews.com/videos/us-saudi-talks-trump-says-us-is-negotiating-advanced-chip-exports-to-saudi-1763534319813/embed">https://www.wionews.com/videos/us-saudi-talks-trump-says-us-is-negotiating-advanced-chip-exports-to-saudi-1763534319813/embed</a><h2>The rise of so-called 'AI PCs'</h2>The biggest hype in recent years has been around AI processors from Intel, AMD, Qualcomm, and Apple that incorporate dedicated neural processing units (NPUs) on laptops. Intel’s Core Ultra chips, AMD’s Ryzen AI 300 series, Qualcomm’s Snapdragon X Elite, and Apple’s M4 processors all include NPUs. New models like the Lenovo Yoga Pro 9i, HP Spectre x360 AI, Asus Vivobook S 15 (Snapdragon X Elite), and Apple MacBook Air M4 highlight this shift to AI computing. They enable hardware acceleration for on-device AI tasks, like real-time video enhancement, noise filtering, and other productivity tasks, reducing reliance on cloud computing. A Gartner forecast showed that AI-capable PCs will account for roughly 31 per cent of global PC shipments in 2025, and more than half by 2026, with laptops leading the adoption.Available data from 2025 shows AI-equipped laptops are in high demand compared to traditional models. Business buyers bought in bulk as they prepare for Windows 10’s end of support in October 2025 on many earlier PC models. Many original equipment manufacturers (OEMs) have been advertising AI features as “future-proof” for productivity, security, and device-local workloads. Enterprise orders reportedly increased by more than 10 per cent year on year.Also read: <a href="https://www.wionews.com/world/vikram-chip-at-semicon-india-2025-india-fired-first-shot-in-global-chip-wars-here-is-why-it-s-not-just-another-science-story-1756812544584">Vikram chip at Semicon India 2025: India fired its first shot in global 'chip wars'. Here is why it's not just another science story</a><h2>Laptop resurgence also comes with higher prices: Chip wars and battery shortages</h2>A parallel trend is the higher cost of laptops. The average selling prices (ASPs) are up, driven by factors of geopolitics and the global contest for semiconductors and rare earths. As a result, ASPs rose from about 720 US dollars in 2021 to about 820 US dollars in 2024. AI-capable components like NPUs, advanced memory, and power-efficient displays led to higher cost of production than previous models. The export restrictions from countries like China and the US, part of the chip war, led to supply chain issues. Logistics bottlenecks continue to add to the cost of buying laptops. Besides the chips, the contest for critical minerals behind the high-performance lithium batteries is also weighing on the prices. Demand for lithium and cobalt is particularly tight.Also read: <a href="https://www.wionews.com/photos/-could-change-ai-google-gemini-is-performing-strong-even-without-nvidia-gpus-1763599705063">‘Could change AI’: Google Gemini is performing strong even without Nvidia GPUs</a><h2>How geopolitics is affecting price of laptops</h2>Laptops are among items where geopolitical uncertainty is strongly felt in pricing. The US tariff war with China and other countries prompted some laptop makers to pull shipments forward and diversify production locations, raising costs. Apple, HP and Dell shifted some production to Vietnam and India. Currency fluctuations and rising labour costs in Asian manufacturing hubs are adding to the retail prices of laptops.As a result of these factors, premium and mid-range laptop prices rose in 2024. Data from 2025 suggests the trend will continue, as AI models are dominating sales. This is strangely leading to an interesting situation. While laptops are now rebounding, many lower-income customers are either postponing upgrades or refurbishing older laptops. The used-laptop market grew by more than 9 per cent in 2024.Also read: <a href="https://www.wionews.com/photos/these-chips-make-apple-iphone-air-the-most-power-efficient-mobile-ever-1757443441511">These chips make Apple iPhone Air the most power-efficient mobile ever</a><h2>What does the future look for laptops?</h2>For the foreseeable future, the demand for laptops is going to be steady if not astronomical, but it's not always going to be pocket-friendly for the middle or lower-income consumers. Industry remains cautiously optimistic, offering AI-driven features. The Windows 11-only PC era is here, since Microsoft stopped supporting Windows 10. This means enterprises will have to buy new models. Shipment volumes are stabilising in spite of the geopolitical headwinds. Laptops have suddenly become more relevant in an era increasingly defined by intelligent computing.

Global laptop sales are seeing a slow rebound, helped by the advent of AI chips. But politics can hold back this revival, as prices rise due to supply chain strains largely brought about by chip wars, tariff tensions and rare earths competition. Here's a situation report

Laptops are back, with better AI chips that enable online work without having to download software for once heavy-duty tasks like video and music production. The global laptop market is slowly recovering after turbulence. The new generation of AI processors is reviving consumer interest. But there are hurdles: Prices are up as production costs is rising due to supply chain constraints, component shortage, and geopolitical tensions. Laptop shipments fell sharply in 2022-2023 after pandemic boom After many years of struggle that saw big players like IBM, Sony and Toshiba exiting the PC market in the 2010s, there was a boom during the Covid pandemic, accelerated by work from home. As the lockdowns ended, personal laptops saw one of the steepest corrections in the industry’s recent history. In 2024, the market stabilised with a modest annual growth of about 1.3 per cent. According to a Canalys estimate, total PC shipments (out of which up to 85 per cent are laptops), rose to roughly 255 million units in 2024, up nearly 4 per cent. This broke an eight-quarter streak of declines. Lenovo, HP and Dell together accounted for more than 60 per cent of these shipments. This was helped by continuing patterns of hybrid work, and as fleets of devices purchased in the pandemic's early years crossed their refresh cycle. https://www.wionews.com/videos/us-saudi-talks-trump-says-us-is-negotiating-advanced-chip-exports-to-saudi-1763534319813/embed The rise of so-called 'AI PCs' The biggest hype in recent years has been around AI processors from Intel, AMD, Qualcomm, and Apple that incorporate dedicated neural processing units (NPUs) on laptops. Intel’s Core Ultra chips, AMD’s Ryzen AI 300 series, Qualcomm’s Snapdragon X Elite, and Apple’s M4 processors all include NPUs. New models like the Lenovo Yoga Pro 9i, HP Spectre x360 AI, Asus Vivobook S 15 (Snapdragon X Elite), and Apple MacBook Air M4 highlight this shift to AI computing. They enable hardware acceleration for on-device AI tasks, like real-time video enhancement, noise filtering, and other productivity tasks, reducing reliance on cloud computing. A Gartner forecast showed that AI-capable PCs will account for roughly 31 per cent of global PC shipments in 2025, and more than half by 2026, with laptops leading the adoption. Available data from 2025 shows AI-equipped laptops are in high demand compared to traditional models. Business buyers bought in bulk as they prepare for Windows 10’s end of support in October 2025 on many earlier PC models. Many original equipment manufacturers (OEMs) have been advertising AI features as “future-proof” for productivity, security, and device-local workloads. Enterprise orders reportedly increased by more than 10 per cent year on year. Also read: Vikram chip at Semicon India 2025: India fired its first shot in global 'chip wars'. Here is why it's not just another science story Laptop resurgence also comes with higher prices: Chip wars and battery shortages A parallel trend is the higher cost of laptops. The average selling prices (ASPs) are up, driven by factors of geopolitics and the global contest for semiconductors and rare earths. As a result, ASPs rose from about 720 US dollars in 2021 to about 820 US dollars in 2024. AI-capable components like NPUs, advanced memory, and power-efficient displays led to higher cost of production than previous models. The export restrictions from countries like China and the US, part of the chip war, led to supply chain issues. Logistics bottlenecks continue to add to the cost of buying laptops. Besides the chips, the contest for critical minerals behind the high-performance lithium batteries is also weighing on the prices. Demand for lithium and cobalt is particularly tight. Also read: ‘Could change AI’: Google Gemini is performing strong even without Nvidia GPUs How geopolitics is affecting price of laptops Laptops are among items where geopolitical uncertainty is strongly felt in pricing. The US tariff war with China and other countries prompted some laptop makers to pull shipments forward and diversify production locations, raising costs. Apple, HP and Dell shifted some production to Vietnam and India. Currency fluctuations and rising labour costs in Asian manufacturing hubs are adding to the retail prices of laptops. As a result of these factors, premium and mid-range laptop prices rose in 2024. Data from 2025 suggests the trend will continue, as AI models are dominating sales. This is strangely leading to an interesting situation. While laptops are now rebounding, many lower-income customers are either postponing upgrades or refurbishing older laptops. The used-laptop market grew by more than 9 per cent in 2024. Also read: These chips make Apple iPhone Air the most power-efficient mobile ever What does the future look for laptops? For the foreseeable future, the demand for laptops is going to be steady if not astronomical, but it's not always going to be pocket-friendly for the middle or lower-income consumers. Industry remains cautiously optimistic, offering AI-driven features. The Windows 11-only PC era is here, since Microsoft stopped supporting Windows 10. This means enterprises will have to buy new models. Shipment volumes are stabilising in spite of the geopolitical headwinds. Laptops have suddenly become more relevant in an era increasingly defined by intelligent computing.

Global laptop sales are seeing a slow rebound, helped by the advent of AI chips. But politics can hold back this revival, as prices rise due to supply chain strains largely brought about by chip wars, tariff tensions and rare earths competition. Here's a situation report

Rebound of the laptop: AI chips fuel sales recovery but geopolitics, shortages and high costs can hurt this boom

An estimated 48 million barrels of cheap crude – many originally headed to India or China – are stranded at sea as US sanctions on Russian oil linked to the Ukraine war take effect, reports said on Friday (Nov 21). The move will affect India, one of the key buyers of Russian crude. Here is why it matters.<h2>US sanctions Russia’s biggest oil producers</h2>The US sanctions on Rosneft and Lukoil took effect on Friday. These two Russian giants account for between 50 and 70 per cent of Russia’s seaborne crude exports, amounting to roughly 2.2 million barrels per day (bpd). The sanctions include full blocking, freezing US-linked assets of these companies, and barring transactions with US-linked firms. Global buyers such as India and China face secondary sanctions if they continue collecting these cargoes after the wind-down deadline.Also read: <a href="https://www.wionews.com/india-news/has-india-s-modi-promised-us-it-will-no-longer-buy-russian-oil-here-s-what-trump-claims-1760574591627">Did Modi promise US that India will no longer buy Russian oil? Here's what Trump claims</a><h2>Stranded cargoes, the immediate fallout visible at sea</h2>According to analytics firm Kpler, nearly 48 million barrels of Rosneft and Lukoil crude across around 50 tankers are now loaded, in transit, or delayed, Bloomberg reported. This equals almost two weeks of exports from the sanctioned firms. The oil is stranded in regions ranging from the Baltic and Black Sea to the Pacific. Many ports and refiners have refused to unload the cargoes after the sanctions deadline passed. Possible outcomes now include rerouting, ship-to-ship transfers, or extended floating storage.<a href="https://www.wionews.com/videos/u-s-sanctions-choke-russian-global-oil-supply-flows-plunge-1763698119913/embed">https://www.wionews.com/videos/u-s-sanctions-choke-russian-global-oil-supply-flows-plunge-1763698119913/embed</a><h2>Sanctions have hit Russian oil prices and revenue</h2>Russian oil prices have struggled in recent months, with the Urals crude trading at a 19–30 dollar discount to Brent crude. Some Urals spot sales are now at 36–47 dollars per barrel, compared with 62–65 dollars for Brent. This has sharply squeezed Russia’s per-barrel revenue. Buyers willing to take the risk are demanding larger discounts because of the sanctions environment. Russia has kept seaborne loadings near 3.4 million bpd, but unloading delays mean a growing share of exports is stuck offshore. As per a JPMorgan estimate, nearly 1.4 million bpd are effectively in floating storage. Prolonged delays could force Russia to cut production if storage fills beyond capacity. Oil and gas account for 40–50 per cent of Russia’s federal budget, and October energy-related tax revenues were already down more than 24 per cent on year.Also read: <a href="https://www.wionews.com/world/trump-claims-india-halting-russian-oil-purchases-completely-days-after-speaking-to-pm-modi-1761471408478">Trump claims 'India halting Russian oil purchases completely,' days after speaking to PM Modi</a><h2>Impact on India, the key buyer of Russian oil</h2>Despite trimming some volumes, India remains among the most exposed buyers of Russian crude. In 2025, India is estimated to have imported 1.7–2 million bpd of Russian oil, accounting for as much as 40 per cent of its total crude imports. Cheap Russian supply helped India stabilise domestic fuel prices, but that advantage is now under strain. Major refiners, including the state-run Indian Oil Corporation, have already halted or cancelled December and January purchases from Rosneft and Lukoil. Some of the currently stranded tankers were India-bound, but cannot unload. India is turning to Middle Eastern and US suppliers, pushing freight rates to five-year highs and increasing overall import costs for the country. The shift could raise India’s import bill and narrow its refinery margins. Petrol and diesel prices may rise if higher costs persist. Some Russian flows might resume indirectly or via unsanctioned producers, but the period of reliably cheap Russian crude appears to be ending.

US sanctions on Russian oil giants are in effect now, stranding 48 million barrels of cheap Russian crude at sea. This could drive fuel prices up for India. Here is what you should know

An estimated 48 million barrels of cheap crude – many originally headed to India or China – are stranded at sea as US sanctions on Russian oil linked to the Ukraine war take effect, reports said on Friday (Nov 21). The move will affect India, one of the key buyers of Russian crude. Here is why it matters. US sanctions Russia’s biggest oil producers The US sanctions on Rosneft and Lukoil took effect on Friday. These two Russian giants account for between 50 and 70 per cent of Russia’s seaborne crude exports, amounting to roughly 2.2 million barrels per day (bpd). The sanctions include full blocking, freezing US-linked assets of these companies, and barring transactions with US-linked firms. Global buyers such as India and China face secondary sanctions if they continue collecting these cargoes after the wind-down deadline. Also read: Did Modi promise US that India will no longer buy Russian oil? Here's what Trump claims Stranded cargoes, the immediate fallout visible at sea According to analytics firm Kpler, nearly 48 million barrels of Rosneft and Lukoil crude across around 50 tankers are now loaded, in transit, or delayed, Bloomberg reported. This equals almost two weeks of exports from the sanctioned firms. The oil is stranded in regions ranging from the Baltic and Black Sea to the Pacific. Many ports and refiners have refused to unload the cargoes after the sanctions deadline passed. Possible outcomes now include rerouting, ship-to-ship transfers, or extended floating storage. https://www.wionews.com/videos/u-s-sanctions-choke-russian-global-oil-supply-flows-plunge-1763698119913/embed Sanctions have hit Russian oil prices and revenue Russian oil prices have struggled in recent months, with the Urals crude trading at a 19–30 dollar discount to Brent crude. Some Urals spot sales are now at 36–47 dollars per barrel, compared with 62–65 dollars for Brent. This has sharply squeezed Russia’s per-barrel revenue. Buyers willing to take the risk are demanding larger discounts because of the sanctions environment. Russia has kept seaborne loadings near 3.4 million bpd, but unloading delays mean a growing share of exports is stuck offshore. As per a JPMorgan estimate, nearly 1.4 million bpd are effectively in floating storage. Prolonged delays could force Russia to cut production if storage fills beyond capacity. Oil and gas account for 40–50 per cent of Russia’s federal budget, and October energy-related tax revenues were already down more than 24 per cent on year. Also read: Trump claims 'India halting Russian oil purchases completely,' days after speaking to PM Modi Impact on India, the key buyer of Russian oil Despite trimming some volumes, India remains among the most exposed buyers of Russian crude. In 2025, India is estimated to have imported 1.7–2 million bpd of Russian oil, accounting for as much as 40 per cent of its total crude imports. Cheap Russian supply helped India stabilise domestic fuel prices, but that advantage is now under strain. Major refiners, including the state-run Indian Oil Corporation, have already halted or cancelled December and January purchases from Rosneft and Lukoil. Some of the currently stranded tankers were India-bound, but cannot unload. India is turning to Middle Eastern and US suppliers, pushing freight rates to five-year highs and increasing overall import costs for the country. The shift could raise India’s import bill and narrow its refinery margins. Petrol and diesel prices may rise if higher costs persist. Some Russian flows might resume indirectly or via unsanctioned producers, but the period of reliably cheap Russian crude appears to be ending.

US sanctions on Russian oil giants are in effect now, stranding 48 million barrels of cheap Russian crude at sea. This could drive fuel prices up for India. Here is what you should know

48 million barrels of cheap crude stranded at sea as US sanctions on Russian oil kicks in. How India will be hit

As per the data in Statista, Japan held the largest foreign direct investment (FDI) position in the United States in 2024, ahead of the UK and Canada. That year, Japan’s investment in the US exceeded 754 billion dollars. Here is the full list of the top 10 countries investing in the US.

As per the data in Statista, Japan held the largest foreign direct investment (FDI) position in the United States in 2024, ahead of the UK and Canada. That year, Japan’s investment in the US exceeded 754 billion dollars. Here is the full list of the top 10 countries investing in the US.

Who funds America? Top 7 countries investing heavily in the United States

The announcement by Meta that it would ban kids aged below 16 from its massively popular social media networks, Instagram and Facebook, is a pivotal moment in addressing Big Tech influence over the lives of teens, and an example of how whistleblowers and a determined government can force these multinational firms to act. The ban will begin from December 4 this year, ahead of the law taking full effect on December 10. With this law, Australia has led the path for restrictions aimed at weaning away children from the mental-health issues linked to social media addiction. The ban is coming at the end of a long saga of whistleblower disclosures, parent complaints, government rule changes and public pressure on platform practices. Both sides of the Australian political establishment united in making one of the most powerful technology companies on the planet comply. Meta, which owns Instagram, Facebook and Threads fervently opposed the legislation until late 2024. But it will now be deactivating the accounts it had long insisted it could not reliably identify.<h2>A platform economy built on adolescent engagement faced whistleblower pressure</h2>The lid on Meta’s stranglehold on teen engagement was blown in 2023 and 2024, when whistleblowers from inside major social media companies stepped forward to tell the truth. They publicly described sophisticated internal systems used by these companies to estimate user ages and track behaviour patterns. The revelations showed that many social media companies have behind-the-scenes tech that actively tailors content and ads for young teens. This sharply contradicted years of claims by the tech giants that their platforms could not meaningfully detect underage users without forcing everyone to submit government IDs.Also read: <a href="https://www.wionews.com/world/meta-australia-to-ban-under-16s-from-facebook-instagram-how-whistleblowers-and-a-determined-government-forced-a-big-tech-giant-to-act-1763624351306">‘Reels vs Shorts’: Which short-video format Indians watch more?</a><h2>Targeted advertising is possible, but not targeted classification of users?</h2>The claims by insiders led Australian lawmakers and child-safety advocates to ask the key question: if these platforms already have enough tech and data to identify minors for targeted advertising and safety features, why can’t they introduce similar tools to stop children from opening accounts in the first place? Amid lawmaker pressure, the government commissioned age-assurance technology trials in 2024 and 2025. These trials offered a partial vindication: even though not perfect, platforms had enough signals and data to take what the law would later describe as “reasonable steps” to address teen use of social media.Also read: <a href="https://www.wionews.com/photos/from-reposts-friends-tab-to-maps-instagram-launches-new-features-netizens-say-it-s-wannabe-tiktok-x-1754550475513">From Reposts to Maps: Instagram launches new features, netizens say 'it's wannabe TikTok, X'</a><h2>Australia passed a world-first law on under-16s' social media access</h2>The pivotal moment came on 28 November 2024, when the Australian Parliament passed a world-first law. The Online Safety Amendment (Social Media Minimum Age) Bill banned users under 16 from “age-restricted” platforms. It required companies to enforce the prohibition one way or another. It went beyond so-called parental consent, which is not always practical. What made the tech giants sit up and take Australia seriously was the steep penalties for non-compliance, set at up to A$49.5 million. The law’s obligations roll out from 10 December this year, giving companies nearly a year to prepare.Also read: <a href="https://www.wionews.com/world/instagram-to-limit-content-for-teens-here-s-what-we-know-about-meta-s-pg-13-safeguards-to-protect-children-1760464490383">Instagram to limit content for teens? Here’s what we know about Meta’s new move</a>&nbsp;In June this year, an age-assurance trial report outlined what platforms could and could not reliably detect when it comes to underage access. On July 30, new rules were published defining which services counted as “age-restricted.” On November 5, Australia’s eSafety Commissioner finalised an initial list which included Facebook, Instagram, Threads, TikTok, Snapchat, X, YouTube, Reddit and Kick, while exempting messaging and education services.<h2>Meta eventually yields</h2>Meta was forced to shift from criticising the Australian law as ‘ineffective’ to pledging compliance, possibly because of the financial and reputational stakes involved. Facing a parliamentary hearing in October, representatives of Meta, TikTok and Snap agreed to deactivate underage accounts. On November 16, Meta began notifying Australian users aged 13 to 15 of their upcoming account deactivation. From 4 December, Meta will start the phased shutdown of under-16 accounts. It will also block new sign-ups ahead of the 10 December enforcement deadline.<a href="https://www.wionews.com/videos/meta-to-pay-trump-25-million-to-settle-lawsuit-over-facebook-and-instagram-8675975/embed">https://www.wionews.com/videos/meta-to-pay-trump-25-million-to-settle-lawsuit-over-facebook-and-instagram-8675975/embed</a><h2>Will it end social media overuse by underage individuals?</h2>The calls for keeping underage individuals off social media came after a series of cases involving online bullying, self-harm and even suicides. The Australian government has now forced one of the world’s largest companies to deploy technology it had long resisted or said was impossible. Will the ban reduce harm for teens? Or will they go into new, harder-to-track services? That remains to be seen, but regulators across the world are watching developments in Australia closely.


Australia’s under-16 social media ban has now forced Meta to deactivate Facebook, Instagram, and Threads accounts for the kids. This came after whistleblower revelations and government pressure on Big Tech compliance. How did this world-first move happen?

The announcement by Meta that it would ban kids aged below 16 from its massively popular social media networks, Instagram and Facebook, is a pivotal moment in addressing Big Tech influence over the lives of teens, and an example of how whistleblowers and a determined government can force these multinational firms to act. The ban will begin from December 4 this year, ahead of the law taking full effect on December 10. With this law, Australia has led the path for restrictions aimed at weaning away children from the mental-health issues linked to social media addiction. The ban is coming at the end of a long saga of whistleblower disclosures, parent complaints, government rule changes and public pressure on platform practices. Both sides of the Australian political establishment united in making one of the most powerful technology companies on the planet comply. Meta, which owns Instagram, Facebook and Threads fervently opposed the legislation until late 2024. But it will now be deactivating the accounts it had long insisted it could not reliably identify. A platform economy built on adolescent engagement faced whistleblower pressure The lid on Meta’s stranglehold on teen engagement was blown in 2023 and 2024, when whistleblowers from inside major social media companies stepped forward to tell the truth. They publicly described sophisticated internal systems used by these companies to estimate user ages and track behaviour patterns. The revelations showed that many social media companies have behind-the-scenes tech that actively tailors content and ads for young teens. This sharply contradicted years of claims by the tech giants that their platforms could not meaningfully detect underage users without forcing everyone to submit government IDs. Also read: ‘Reels vs Shorts’: Which short-video format Indians watch more? Targeted advertising is possible, but not targeted classification of users? The claims by insiders led Australian lawmakers and child-safety advocates to ask the key question: if these platforms already have enough tech and data to identify minors for targeted advertising and safety features, why can’t they introduce similar tools to stop children from opening accounts in the first place? Amid lawmaker pressure, the government commissioned age-assurance technology trials in 2024 and 2025. These trials offered a partial vindication: even though not perfect, platforms had enough signals and data to take what the law would later describe as “reasonable steps” to address teen use of social media. Also read: From Reposts to Maps: Instagram launches new features, netizens say 'it's wannabe TikTok, X' Australia passed a world-first law on under-16s' social media access The pivotal moment came on 28 November 2024, when the Australian Parliament passed a world-first law. The Online Safety Amendment (Social Media Minimum Age) Bill banned users under 16 from “age-restricted” platforms. It required companies to enforce the prohibition one way or another. It went beyond so-called parental consent, which is not always practical. What made the tech giants sit up and take Australia seriously was the steep penalties for non-compliance, set at up to A$49.5 million. The law’s obligations roll out from 10 December this year, giving companies nearly a year to prepare. Also read: Instagram to limit content for teens? Here’s what we know about Meta’s new move In June this year, an age-assurance trial report outlined what platforms could and could not reliably detect when it comes to underage access. On July 30, new rules were published defining which services counted as “age-restricted.” On November 5, Australia’s eSafety Commissioner finalised an initial list which included Facebook, Instagram, Threads, TikTok, Snapchat, X, YouTube, Reddit and Kick, while exempting messaging and education services. Meta eventually yields Meta was forced to shift from criticising the Australian law as ‘ineffective’ to pledging compliance, possibly because of the financial and reputational stakes involved. Facing a parliamentary hearing in October, representatives of Meta, TikTok and Snap agreed to deactivate underage accounts. On November 16, Meta began notifying Australian users aged 13 to 15 of their upcoming account deactivation. From 4 December, Meta will start the phased shutdown of under-16 accounts. It will also block new sign-ups ahead of the 10 December enforcement deadline. https://www.wionews.com/videos/meta-to-pay-trump-25-million-to-settle-lawsuit-over-facebook-and-instagram-8675975/embed Will it end social media overuse by underage individuals? The calls for keeping underage individuals off social media came after a series of cases involving online bullying, self-harm and even suicides. The Australian government has now forced one of the world’s largest companies to deploy technology it had long resisted or said was impossible. Will the ban reduce harm for teens? Or will they go into new, harder-to-track services? That remains to be seen, but regulators across the world are watching developments in Australia closely.

Australia’s under-16 social media ban has now forced Meta to deactivate Facebook, Instagram, and Threads accounts for the kids. This came after whistleblower revelations and government pressure on Big Tech compliance. How did this world-first move happen?

Meta Australia to ban under-16s from Facebook, Instagram: How whistleblowers and a determined government forced a Big Tech giant to act

Process or analytical capabilities of huge amounts of viewership data have become the distinguishing feature of companies operating in the industry of streaming services that seek to maximize user experience and engagement. &nbsp;Millions of viewers worldwide consume media on many devices and platforms, meaning that viewer behavior and attitude data will be necessary to offer personal experience. &nbsp;This is where data engineering has been an essential factor and one of the professionals that have achieved a lot in this field is Sainath Muvva. &nbsp;The work on reverse-engineering viewership metrics through the use of a potent batch pipeline has been revolutionary to streaming services.Muvva, who is the lead/architect in his position has been significant in designing and deploying a state of the art batch processing pipeline in AWS. &nbsp;He worked with the more modern services such as S3, EMR, and Redshift to process and manage large amounts of data using more efficient services. &nbsp;The batch pipeline created by him integrates crude viewership data in order to give actionable statistics that enable the marketers to comprehend the activities of their audiences concerning their content.Muvva has made a number of milestones through his work. &nbsp;It is worth noting that he could streamline the data processing pipeline and decrease the processing time by 40 percent and cut AWS expenses by 25 percent. &nbsp;These improvements directly resulted in cost and performance improvement. &nbsp;It is also a new approach that led to an increase in user engagement by 15 percent since the new actionable metrics made it possible to understand user options much more granularly. &nbsp;This caused data-driven decisions to be made by product teams in a back-and-forth loop, which were the ones that affect content acquisition, marketing activities, and, overall, the user experience.Data governance and compliance was one of the most important aspects of success of the Muvva in this project. &nbsp;With the growth in the volume of the viewership data, quality of the data had become a significant issue. &nbsp;Muvva introduced automated data quality controls and data lineage management, which meant that the analyzed data was in the industry standards and regulations. &nbsp;This data quality discipline not only minimized the errors, but also caused the establishment of trust with the user and client base, which, in its turn, resulted in the enhancement of the user retention.Additionally, the work done by Muvva enhanced greater cooperation among teams. &nbsp;He regularly met with the product, marketing, and content teams and ensured that the measures that were taken aligned to business targets. &nbsp;Such a multidisciplinary teamwork led to faster implementation of improvements with more understanding on actionable information.In spite of the major success, Muvva encountered a number of obstacles. &nbsp;Among the most urgent was the size of the data streamed by the platform one 50 TB of raw data per day and a lot of millions of events per second. &nbsp;He addressed this issue by implementing a multi-tier data ingestion pipeline using the services of Amazon Kinesis and AWS Snowball to transfer data in a point-and-bulk mode. &nbsp;This would allow the site to handle the massive data volume without slowing down.Computations of new measures required complex business logic implementation, which however, came with certain problems. &nbsp;According to Apache Spark, Muvva and his co-workers came up with a modular metrics calculation system, which enabled them to perform complicated computations on large volumes of data sources with important efficiency. &nbsp;Also, the strict adherence to the laws of GDPR and data privacy required a properly designed data governance platform, which relies on encryption and access control. &nbsp;The active attitude of Muvva achieved 100 percent compliance, eliminating the risk of the legal concerns and reinforcing the image of the platform as data responsible.In addition to technical performance, the activities of Muvva provided some visible and thus quantifiable business outcomes. &nbsp;Along with the 15% increase in user engagement, there was also an increase in average watched time of 25% and user retention of 20% on the platform. &nbsp;These figures demonstrate how data engineering can be effectively used in the coming generation of streaming services not only in the delivery of the optimal user experience but also in business revenue.Muvva believes that the purpose of data engineering to streaming will be established through its integration of real-time and batch processing. &nbsp;With the increase in the demand of personal content, the platforms will have to strike a balance between the necessity to get an immediate insight and a possibility to do deep historical analysis. &nbsp;Such technologies as AWS Kinesis and AWS Glue will also remain part of this mixed solution, as they will be speedy and affordable. &nbsp;Moreover, the privacy and data safety will remain the primary issue with the growing rigor of the rules and requiring a greater degree of alertness on the part of the customers.Machine learning and AI technologies will also be involved in the creation of data pipelines in streaming services in significant numbers. &nbsp;Combining predictive analytics with customized content suggestions, the streaming platforms will be capable of providing even more personalized experience to the users. &nbsp;However, to stay relevant as a reminder suggested by Muvva, it will be notable to ensure a balance between the application of AI and the proper stewardship of data to enable innovation and, at the same time, ensure trust among users.Considering his experience Muvva is willing to reflect, stating that the key to success in changing the viewership data is not only in creating a scalable pipeline, it is also the data of good quality, that is in accordance with regulations, and the most important, the data, which can be acted upon. &nbsp;Under this strategy, improved decision-making in business is realized and improved quality of experience among the users is realized.To sum up, the work of Sainath Muvva to change the data of viewership using sophisticated AWS-based batch pipelines has established a new bar in the field of data engineering in streaming organizations. &nbsp;Not only has his work enhanced the efficiency of operations, but it has also directly influenced user interaction and business activities, which demonstrates the strength of data in the future of entertainment. &nbsp;As the size of streaming platforms that are increasingly becoming larger, an ability to extract value in a very potent manner will remain the heart of the provision of an incredible user experience.&nbsp;

The work on reverse-engineering viewership metrics through the use of a potent batch pipeline has been revolutionary to streaming services.

Process or analytical capabilities of huge amounts of viewership data have become the distinguishing feature of companies operating in the industry of streaming services that seek to maximize user experience and engagement. Millions of viewers worldwide consume media on many devices and platforms, meaning that viewer behavior and attitude data will be necessary to offer personal experience. This is where data engineering has been an essential factor and one of the professionals that have achieved a lot in this field is Sainath Muvva. The work on reverse-engineering viewership metrics through the use of a potent batch pipeline has been revolutionary to streaming services. Muvva, who is the lead/architect in his position has been significant in designing and deploying a state of the art batch processing pipeline in AWS. He worked with the more modern services such as S3, EMR, and Redshift to process and manage large amounts of data using more efficient services. The batch pipeline created by him integrates crude viewership data in order to give actionable statistics that enable the marketers to comprehend the activities of their audiences concerning their content. Muvva has made a number of milestones through his work. It is worth noting that he could streamline the data processing pipeline and decrease the processing time by 40 percent and cut AWS expenses by 25 percent. These improvements directly resulted in cost and performance improvement. It is also a new approach that led to an increase in user engagement by 15 percent since the new actionable metrics made it possible to understand user options much more granularly. This caused data-driven decisions to be made by product teams in a back-and-forth loop, which were the ones that affect content acquisition, marketing activities, and, overall, the user experience. Data governance and compliance was one of the most important aspects of success of the Muvva in this project. With the growth in the volume of the viewership data, quality of the data had become a significant issue. Muvva introduced automated data quality controls and data lineage management, which meant that the analyzed data was in the industry standards and regulations. This data quality discipline not only minimized the errors, but also caused the establishment of trust with the user and client base, which, in its turn, resulted in the enhancement of the user retention. Additionally, the work done by Muvva enhanced greater cooperation among teams. He regularly met with the product, marketing, and content teams and ensured that the measures that were taken aligned to business targets. Such a multidisciplinary teamwork led to faster implementation of improvements with more understanding on actionable information. In spite of the major success, Muvva encountered a number of obstacles. Among the most urgent was the size of the data streamed by the platform one 50 TB of raw data per day and a lot of millions of events per second. He addressed this issue by implementing a multi-tier data ingestion pipeline using the services of Amazon Kinesis and AWS Snowball to transfer data in a point-and-bulk mode. This would allow the site to handle the massive data volume without slowing down. Computations of new measures required complex business logic implementation, which however, came with certain problems. According to Apache Spark, Muvva and his co-workers came up with a modular metrics calculation system, which enabled them to perform complicated computations on large volumes of data sources with important efficiency. Also, the strict adherence to the laws of GDPR and data privacy required a properly designed data governance platform, which relies on encryption and access control. The active attitude of Muvva achieved 100 percent compliance, eliminating the risk of the legal concerns and reinforcing the image of the platform as data responsible. In addition to technical performance, the activities of Muvva provided some visible and thus quantifiable business outcomes. Along with the 15% increase in user engagement, there was also an increase in average watched time of 25% and user retention of 20% on the platform. These figures demonstrate how data engineering can be effectively used in the coming generation of streaming services not only in the delivery of the optimal user experience but also in business revenue. Muvva believes that the purpose of data engineering to streaming will be established through its integration of real-time and batch processing. With the increase in the demand of personal content, the platforms will have to strike a balance between the necessity to get an immediate insight and a possibility to do deep historical analysis. Such technologies as AWS Kinesis and AWS Glue will also remain part of this mixed solution, as they will be speedy and affordable. Moreover, the privacy and data safety will remain the primary issue with the growing rigor of the rules and requiring a greater degree of alertness on the part of the customers. Machine learning and AI technologies will also be involved in the creation of data pipelines in streaming services in significant numbers. Combining predictive analytics with customized content suggestions, the streaming platforms will be capable of providing even more personalized experience to the users. However, to stay relevant as a reminder suggested by Muvva, it will be notable to ensure a balance between the application of AI and the proper stewardship of data to enable innovation and, at the same time, ensure trust among users. Considering his experience Muvva is willing to reflect, stating that the key to success in changing the viewership data is not only in creating a scalable pipeline, it is also the data of good quality, that is in accordance with regulations, and the most important, the data, which can be acted upon. Under this strategy, improved decision-making in business is realized and improved quality of experience among the users is realized. To sum up, the work of Sainath Muvva to change the data of viewership using sophisticated AWS-based batch pipelines has established a new bar in the field of data engineering in streaming organizations. Not only has his work enhanced the efficiency of operations, but it has also directly influenced user interaction and business activities, which demonstrates the strength of data in the future of entertainment. As the size of streaming platforms that are increasingly becoming larger, an ability to extract value in a very potent manner will remain the heart of the provision of an incredible user experience.

The work on reverse-engineering viewership metrics through the use of a potent batch pipeline has been revolutionary to streaming services.

Transforming viewership data: Batch pipeline delivers key metrics for enhanced user experience

Indian exports to the United States have shown signs of recovery in October after a four-month slump, signalling an easing of the tariff shock as the 50 per cent levies imposed by President Trump in May are still in place. The exports to the US stood at $6.3 billion in October, showing a 14.5 per cent jump from September, marking the first monthly surge since May. However, the exports remain 8.5 per cent less compared to $6.9 billion recorded in October 2024.&nbsp;The improved data came as Indian state-run oil firms agreed to import more liquefied petroleum gas (LPG) from the US, and Trump exempted many farm goods from reciprocal tariffs that could benefit India.&nbsp;Also Read:<a href="https://www.wionews.com/world/elon-musk-calls-jeff-bezos-a-copycat-after-amazon-founder-launched-6-2b-ai-startup-prometheus-1763445449642"> Elon Musk calls Jeff Bezos a ‘copycat’ after Amazon founder launches $6.2B AI startup 'Prometheus'</a>&nbsp;Trade deal negotiations between the two countries are underway, with an Indian official saying that key aspects of the deal were nearing closure.&nbsp;The jump in India's exports to the US came at a time when India's overall exports fell 11.8 per cent year-on-year in October, with only five of its top markets reporting any growth. Only Spain, China, Hong Kong, Brazil, and Belgium registered year-on-year growth in October.&nbsp;On the other hand, 15 of the top export destinations recorded a year-on-year decline, including exports to Singapore plunging a sharp 54.9 per cent, and Australia dropping 52.4 per cent. Shipment to the UK, Italy, the Netherlands and France also recorded a double-digit decline, flagging a drop in global demands, according to a GTRI report released on Monday.&nbsp;Also Read: <a href="https://www.wionews.com/business-economy/warren-buffett-invests-4-3-billion-in-alphabet-inc-as-google-parent-stock-dances-to-new-highs-1763361155203">Warren Buffett invests $4.3 billion in Alphabet Inc as Google parent stock dances to new highs</a>&nbsp;The report suggests, the October surge in exports to the US offers temporary relief but does not reverse the overall trend. India's US-bound shipments have shrunk around 28.8 per cent from May, when the tariffs came into effect, to October, causing more than $ 2.5 billion decrease in monthly export value during the period.&nbsp;

India on Monday said that it had concluded a first-ever major deal that will see its state-run oil companies sourcing some 10% of the country's annual LPG needs from the US.


Indian exports to the United States have shown signs of recovery in October after a four-month slump, signalling an easing of the tariff shock as the 50 per cent levies imposed by President Trump in May are still in place. The exports to the US stood at $6.3 billion in October, showing a 14.5 per cent jump from September, marking the first monthly surge since May. However, the exports remain 8.5 per cent less compared to $6.9 billion recorded in October 2024. The improved data came as Indian state-run oil firms agreed to import more liquefied petroleum gas (LPG) from the US, and Trump exempted many farm goods from reciprocal tariffs that could benefit India. Also Read: Elon Musk calls Jeff Bezos a ‘copycat’ after Amazon founder launches $6.2B AI startup 'Prometheus' Trade deal negotiations between the two countries are underway, with an Indian official saying that key aspects of the deal were nearing closure. The jump in India's exports to the US came at a time when India's overall exports fell 11.8 per cent year-on-year in October, with only five of its top markets reporting any growth. Only Spain, China, Hong Kong, Brazil, and Belgium registered year-on-year growth in October. On the other hand, 15 of the top export destinations recorded a year-on-year decline, including exports to Singapore plunging a sharp 54.9 per cent, and Australia dropping 52.4 per cent. Shipment to the UK, Italy, the Netherlands and France also recorded a double-digit decline, flagging a drop in global demands, according to a GTRI report released on Monday. Also Read: Warren Buffett invests $4.3 billion in Alphabet Inc as Google parent stock dances to new highs The report suggests, the October surge in exports to the US offers temporary relief but does not reverse the overall trend. India's US-bound shipments have shrunk around 28.8 per cent from May, when the tariffs came into effect, to October, causing more than $ 2.5 billion decrease in monthly export value during the period.

India on Monday said that it had concluded a first-ever major deal that will see its state-run oil companies sourcing some 10% of the country's annual LPG needs from the US. &nbsp;

Exports to US bounce back in October, ending India’s four-month dip after Trump tariff shock

As Crown Prince Mohammed bin Salman visits the United States on Tuesday (Nov 18), there are signs of bilateral engagements that point to intensifying security ties among Saudi Arabia, Pakistan, and the US. This raises the question of whether both Saudi Arabia and Pakistan could be used by Washington as vantage points for monitoring Iran. It also prompts a wider inquiry into what a Saudi–Pakistan–US security arrangement might mean for India. The Crown Prince’s visit is expected to cement the US–Saudi partnership even as the kingdom’s longstanding security ties with Pakistan remain well-known. These tracks could intersect when it comes to managing their shared regional rival, Iran. But where would India figure in all these?<h2>Setting the context: Saudi Crown Prince visit and growing US ties</h2>MBS’s visit might see the firming up of major Saudi investment commitments in the US economy. President Donald Trump has hinted that F-35 fighter jets and other advanced American defence equipment could be made available to Riyadh. Discussions around a Saudi civilian nuclear programme continue, alongside consultations on technological cooperation in artificial intelligence, energy infrastructure, and semiconductor supply chains. The White House is also pushing for Saudi–Israeli normalisation under the broader framework of the Abraham Accords, a process already underway in several Gulf and Arab states.Also read: <a href="https://www.wionews.com/world/donald-trump-in-saudi-arabia-meets-crown-prince-mbs-elon-musk-joins-in-for-vip-lunch-9064561">Donald Trump in Saudi Arabia, meets Crown Prince MBS; Elon Musk joins in for VIP lunch: See pics here</a><h2>Saudi–Pakistan strategic ties are firming up</h2>Meanwhile, Saudi-Pakistan cooperation took a dramatic step forward in September with the signing of the Saudi–Pakistan Strategic Mutual Defence Agreement. Coming in the aftermath of India–Pakistan tensions and Operation Sindoor - India’s response to the Pahalgam terror attack- &nbsp;the pact declared that an attack on either state would be treated as an attack on both, echoing the collective defence logic of NATO’s Article 5. Saudi Arabia faces ongoing threats from the Houthis in Yemen even as it seeks to balance Iran’s influence, and Pakistan continues to provide the kingdom with military training and manpower. Reports that Pakistani nuclear capabilities could be used to support Saudi deterrence, although officially denied, have contributed to the perception that Riyadh is developing fallback security options should its relationship with the US deteriorate. The Saudi-Pakistan pact had ruffled some feathers in India.Also read: <a href="https://www.wionews.com/world/starlink-tesla-optimus-and-more-why-was-elon-musk-in-saudi-arabia-during-trumps-west-asia-visit-9067875">Starlink, Tesla robots and more: Here's why Elon Musk accompanied Trump in his Saudi Arabia visit</a><h2>America's new interest in Pakistan: A useful nuisance</h2>Trump’s renewed interest in Pakistan adds a further layer of complexity to these arragements. Pakistan’s Prime Minister Shehbaz Sharif and its army chief Gen Asim Munir visited Washington recently for meetings centred on counterterrorism cooperation and the revival of military-to-military engagement. To India’s discomfort, these interactions signalled that the US continues to see strategic value in maintaining a working relationship with Islamabad.<a href="https://www.wionews.com/videos/us-saudi-arabia-ties-saudi-crown-prince-to-visit-us-us-will-sell-f-35-jets-to-saudi-1763456903081/embed">https://www.wionews.com/videos/us-saudi-arabia-ties-saudi-crown-prince-to-visit-us-us-will-sell-f-35-jets-to-saudi-1763456903081/embed</a><h2>Iran remains a central concern for all three states</h2>Despite the Saudi–Iran détente that followed the 2023 agreement brokered by China, the two remain strategic adversaries divided by deep-rooted sectarian, geopolitical, and ideological differences. Iran’s ballistic missile arsenal, its nuclear programme, and the activities of Iranian-backed groups across the region are regarded by Saudi Arabia as long-term security challenges. Pakistan, for its part, has had a troubled history with Iran involving border instability, sectarian militancy, rivalry in Afghanistan, and mutual accusations of supporting militant actors. Although Pakistan maintains formal diplomatic ties with Tehran, its strategic alignment with Saudi Arabia is much stronger.<h2>Saudi Arabia is also &nbsp;attempting to reduce regional tensions&nbsp;</h2>Vision 2030 agenda, Mohammed bin Salman’s economic and social transformation plan requires a stable regional environment, which explains both the pursuit of détente with Iran and efforts to normalise ties with Israel in coordination with the US. Reducing the likelihood of major regional conflicts is a core priority for the kingdom’s long-term strategic trajectory.Also read: <a href="https://www.wionews.com/world/-they-ve-been-a-great-ally-trump-teases-f-35-jet-sale-to-saudi-arabia-a-day-before-mohammed-bin-salman-meeting-1763433097070">'They've been a great ally': Trump teases F-35 jet sale to Saudi Arabia a day before Mohammed bin Salman meeting</a><h2>For India, a fast-shifting landscape demanding careful attention</h2>The Saudi–Pakistan defence pact initially created suspicion in New Delhi, as it theoretically could be invoked during a future India–Pakistan confrontation. Saudi Arabia has repeatedly assured India that its commitments to Pakistan are not directed against Indian interests. The kingdom maintains extensive economic ties with India: energy, investment, and throgh Indian expat workers. India also continues to maintain strong relations with the US despite recent fluctuations linked to American domestic politics and Trump's tariff tantrums. These diversified partnerships provide New Delhi with diplomatic leverage.Nonetheless, India faces a more complex regional environment as Saudi Arabia and Pakistan strengthen their ties with Washington. For now, India retains both the political influence and economic capability to navigate a situation in which Saudi Arabia and Pakistan move closer to the United States. But a tighter embrace among the three could pose a problem in future. &nbsp;

Saudi Crown Prince MBS’s US visit boosts Saudi–US ties while Saudi–Pakistan defence links deepen and Pakistan-US relationship improves separately. India must watch this three-way relationship and how it could shift regional dynamics. Here is why


As Crown Prince Mohammed bin Salman visits the United States on Tuesday (Nov 18), there are signs of bilateral engagements that point to intensifying security ties among Saudi Arabia, Pakistan, and the US. This raises the question of whether both Saudi Arabia and Pakistan could be used by Washington as vantage points for monitoring Iran. It also prompts a wider inquiry into what a Saudi–Pakistan–US security arrangement might mean for India. The Crown Prince’s visit is expected to cement the US–Saudi partnership even as the kingdom’s longstanding security ties with Pakistan remain well-known. These tracks could intersect when it comes to managing their shared regional rival, Iran. But where would India figure in all these? Setting the context: Saudi Crown Prince visit and growing US ties MBS’s visit might see the firming up of major Saudi investment commitments in the US economy. President Donald Trump has hinted that F-35 fighter jets and other advanced American defence equipment could be made available to Riyadh. Discussions around a Saudi civilian nuclear programme continue, alongside consultations on technological cooperation in artificial intelligence, energy infrastructure, and semiconductor supply chains. The White House is also pushing for Saudi–Israeli normalisation under the broader framework of the Abraham Accords, a process already underway in several Gulf and Arab states. Also read: Donald Trump in Saudi Arabia, meets Crown Prince MBS; Elon Musk joins in for VIP lunch: See pics here Saudi–Pakistan strategic ties are firming up Meanwhile, Saudi-Pakistan cooperation took a dramatic step forward in September with the signing of the Saudi–Pakistan Strategic Mutual Defence Agreement. Coming in the aftermath of India–Pakistan tensions and Operation Sindoor - India’s response to the Pahalgam terror attack- the pact declared that an attack on either state would be treated as an attack on both, echoing the collective defence logic of NATO’s Article 5. Saudi Arabia faces ongoing threats from the Houthis in Yemen even as it seeks to balance Iran’s influence, and Pakistan continues to provide the kingdom with military training and manpower. Reports that Pakistani nuclear capabilities could be used to support Saudi deterrence, although officially denied, have contributed to the perception that Riyadh is developing fallback security options should its relationship with the US deteriorate. The Saudi-Pakistan pact had ruffled some feathers in India. Also read: Starlink, Tesla robots and more: Here's why Elon Musk accompanied Trump in his Saudi Arabia visit America's new interest in Pakistan: A useful nuisance Trump’s renewed interest in Pakistan adds a further layer of complexity to these arragements. Pakistan’s Prime Minister Shehbaz Sharif and its army chief Gen Asim Munir visited Washington recently for meetings centred on counterterrorism cooperation and the revival of military-to-military engagement. To India’s discomfort, these interactions signalled that the US continues to see strategic value in maintaining a working relationship with Islamabad. https://www.wionews.com/videos/us-saudi-arabia-ties-saudi-crown-prince-to-visit-us-us-will-sell-f-35-jets-to-saudi-1763456903081/embed Iran remains a central concern for all three states Despite the Saudi–Iran détente that followed the 2023 agreement brokered by China, the two remain strategic adversaries divided by deep-rooted sectarian, geopolitical, and ideological differences. Iran’s ballistic missile arsenal, its nuclear programme, and the activities of Iranian-backed groups across the region are regarded by Saudi Arabia as long-term security challenges. Pakistan, for its part, has had a troubled history with Iran involving border instability, sectarian militancy, rivalry in Afghanistan, and mutual accusations of supporting militant actors. Although Pakistan maintains formal diplomatic ties with Tehran, its strategic alignment with Saudi Arabia is much stronger. Saudi Arabia is also attempting to reduce regional tensions Vision 2030 agenda, Mohammed bin Salman’s economic and social transformation plan requires a stable regional environment, which explains both the pursuit of détente with Iran and efforts to normalise ties with Israel in coordination with the US. Reducing the likelihood of major regional conflicts is a core priority for the kingdom’s long-term strategic trajectory. Also read: 'They've been a great ally': Trump teases F-35 jet sale to Saudi Arabia a day before Mohammed bin Salman meeting For India, a fast-shifting landscape demanding careful attention The Saudi–Pakistan defence pact initially created suspicion in New Delhi, as it theoretically could be invoked during a future India–Pakistan confrontation. Saudi Arabia has repeatedly assured India that its commitments to Pakistan are not directed against Indian interests. The kingdom maintains extensive economic ties with India: energy, investment, and throgh Indian expat workers. India also continues to maintain strong relations with the US despite recent fluctuations linked to American domestic politics and Trump's tariff tantrums. These diversified partnerships provide New Delhi with diplomatic leverage. Nonetheless, India faces a more complex regional environment as Saudi Arabia and Pakistan strengthen their ties with Washington. For now, India retains both the political influence and economic capability to navigate a situation in which Saudi Arabia and Pakistan move closer to the United States. But a tighter embrace among the three could pose a problem in future.

Crown Prince MBS’s US visit boosts Saudi–US ties while Saudi–Pakistan defence links deepen and Pakistan-US relationship improves separately. India must watch this three-way relationship and how it could shift regional dynamics. Here is why &nbsp;

Crown Prince MBS US visit: Will Saudi–Pak–US relationships cause worry for India?

Underneath the hype of fintech startups and the glittering new payment app, a much more important and profound technological revolution is being made. It occurs within the legacy banks of the world where the fundamental issue is training decades of mission-critical systems that think. To these institutions, the integration of artificial intelligence is not an upgrade at hand; it is a complex and expensive rewiring of the very architecture of the financial system.&nbsp;The biggest barrier is known as technical debt, which is the large and entangled system of aging infrastructure that drives the world finance. These systems were reliable but they were never intended to interface with modern AI. This has resulted in a demand around the world of a special breed of engineer who is a data engineer, and a strategist who can work on old code and introduce new intelligence, a considerable skill that has been instilled in the 1,600+ strong Appinventiv workforce.&nbsp;This is where intense engineering centers have turned out to be indispensable. Appinventiv has become notable with this complicated niche, where it puts teams of employees to work as translators between the new and the old financial world. Their job is not only about construction of algorithms, they need to shape secure data pipelines and develop custom APIs that enable current AI tools to engage with systems, which may have been written in pre-internet times, safely. As an example, their engineers have created AI-assisted models of loan underwriting, which can interrogate decades of customer data of a bank without undermining the core system.&nbsp;It never comes down to a shortage of data, as banks have an abundance of it, says a senior fintech strategist. The trick is to ensure that that data is made available and beneficial to the intelligent systems without necessarily breaking the bank, both in literal and figurative senses. It is a surgerybut not a replacement. When these engineers manage to complete this "digital surgery," they are not only modernizing banks, but also future-proofing the building blocks of the economy.&nbsp;It is a two pronged strategy, rooted in experience of managing over 3,000 projects, which is to strengthen the core and then add on top of it with innovation that is intelligent. They do not use a dangerously risky approach of the rip and replace strategy but rather their engineers start by developing secure, current data pipelines that can safely draw out the data in the old mainframe.&nbsp;As soon as the data flow becomes possible, Appinventiv teams roll out a set of bespoke AI solutions to design a new and smart sort of nervous system of the bank:&nbsp;To Customer Experience: They combine Natural Language Processing (NLP) models that process millions of customer service chats and calls, not only keyword searches, but also sentiment searches. This enables the bank to proactively screen at-risk customers with the precision that has not been possible before.&nbsp;In terms of Security: Their machine learning systems to detect fraud are a large step up over the old rule-based systems. They detect small, atypical patterns in real-time on millions of transactions forming a dynamic and self-enhancing defense shield.&nbsp;To be more efficient: Robotic Process Automation (RPA) is employed to automate thousands of repetitive manual operations, which handles more than 3 million API calls per day to some clients and releases human resources into more valuable endeavors.&nbsp;This is an engineering-led, systematic way of doing things, and it gives old institutions a realistic way out. They do not need to make a decision between their trusted old systems and the benefits of AI. They can have both with the right IT partner such as Appinventiv.

The biggest barrier is known as technical debt, which is the large and entangled system of aging infrastructure that drives the world finance. These systems were reliable but they were never intended to interface with modern AI.

Underneath the hype of fintech startups and the glittering new payment app, a much more important and profound technological revolution is being made. It occurs within the legacy banks of the world where the fundamental issue is training decades of mission-critical systems that think. To these institutions, the integration of artificial intelligence is not an upgrade at hand; it is a complex and expensive rewiring of the very architecture of the financial system. The biggest barrier is known as technical debt, which is the large and entangled system of aging infrastructure that drives the world finance. These systems were reliable but they were never intended to interface with modern AI. This has resulted in a demand around the world of a special breed of engineer who is a data engineer, and a strategist who can work on old code and introduce new intelligence, a considerable skill that has been instilled in the 1,600+ strong Appinventiv workforce. This is where intense engineering centers have turned out to be indispensable. Appinventiv has become notable with this complicated niche, where it puts teams of employees to work as translators between the new and the old financial world. Their job is not only about construction of algorithms, they need to shape secure data pipelines and develop custom APIs that enable current AI tools to engage with systems, which may have been written in pre-internet times, safely. As an example, their engineers have created AI-assisted models of loan underwriting, which can interrogate decades of customer data of a bank without undermining the core system. It never comes down to a shortage of data, as banks have an abundance of it, says a senior fintech strategist. The trick is to ensure that that data is made available and beneficial to the intelligent systems without necessarily breaking the bank, both in literal and figurative senses. It is a surgery but not a replacement. When these engineers manage to complete this "digital surgery," they are not only modernizing banks, but also future-proofing the building blocks of the economy. It is a two pronged strategy, rooted in experience of managing over 3,000 projects, which is to strengthen the core and then add on top of it with innovation that is intelligent. They do not use a dangerously risky approach of the rip and replace strategy but rather their engineers start by developing secure, current data pipelines that can safely draw out the data in the old mainframe. As soon as the data flow becomes possible, Appinventiv teams roll out a set of bespoke AI solutions to design a new and smart sort of nervous system of the bank: To Customer Experience: They combine Natural Language Processing (NLP) models that process millions of customer service chats and calls, not only keyword searches, but also sentiment searches. This enables the bank to proactively screen at-risk customers with the precision that has not been possible before. In terms of Security: Their machine learning systems to detect fraud are a large step up over the old rule-based systems. They detect small, atypical patterns in real-time on millions of transactions forming a dynamic and self-enhancing defense shield. To be more efficient: Robotic Process Automation (RPA) is employed to automate thousands of repetitive manual operations, which handles more than 3 million API calls per day to some clients and releases human resources into more valuable endeavors. This is an engineering-led, systematic way of doing things, and it gives old institutions a realistic way out. They do not need to make a decision between their trusted old systems and the benefits of AI. They can have both with the right IT partner such as Appinventiv.

The biggest barrier is known as technical debt, which is the large and entangled system of aging infrastructure that drives the world finance. These systems were reliable but they were never intended to interface with modern AI.

Appinventiv driving AI-powered tech revolution in legacy banks

Jeff Bezos, who stepped down as CEO of Amazon in 2021, is now leading a new AI venture backed by $6.2 billion, marking his first return to a co-chief executive position in four years. The new venture of Amazon's founder is called ‘Project Prometheus’, which is set to build AI products for engineering and manufacturing in multiple sectors, including computers, aerospace, and automobiles&nbsp;Bezos will act as co-chief executive alongside Vik Bajaj, a prominent Silicon Valley researcher who also worked with Google co-founder Sergey Brin at the tech giant's experimental X lab, who also co-founded life sciences research unit Verily.<h3>What is Project Prometheus?</h3>Based on a report published in the New York Times, the project 'Prometheus' focuses on developing advanced artificial intelligence tools to accelerate engineering and manufacturing processes in sectors like aerospace, automobiles, and computing. The company employs researchers from leading AI firms and aims to create AI models that learn from complex physical experiments rather than just text.&nbsp;The Project Prometheus aligns with the broader vision of Bezos for space exploration and technological innovation, integrating AI applications to support robotics, scientific discovery, and cost-effective off-planet labour. The startup is already working with more than 100 staff members, including AI researchers from companies like Meta, OpenAI, and Google DeepMind.&nbsp;The AI race has transformed into one of the most significant battlegrounds in tech over the past few years as soon ChatGPT’s breakout in late 2022. As a result, giant IT companies like Meta, Microsoft, and Google have also shifted their focus toward AI.&nbsp;Unlike the generative AI technology behind ChatGPT, it also focuses on developing systems that learn from real-world experimentation, rather than just digital text, to intensify scientific discovery in physics, chemistry and engineering.&nbsp;Also read: <a href="https://www.wionews.com/world/elon-musk-calls-jeff-bezos-a-copycat-after-amazon-founder-launched-6-2b-ai-startup-prometheus-1763445449642">Elon Musk calls Jeff Bezos a ‘copycat’ after Amazon founder launches $6.2B AI startup ‘Prometheus’</a>

Jeff Bezos will act as co-chief executive alongside Vik Bajaj, a prominent Silicon Valley researcher who also worked with Google co-founder Sergey Brin at the tech giant's experimental X lab, who also co-founded life sciences research unit Verily.

Jeff Bezos, who stepped down as CEO of Amazon in 2021, is now leading a new AI venture backed by $6.2 billion, marking his first return to a co-chief executive position in four years. The new venture of Amazon's founder is called ‘Project Prometheus’, which is set to build AI products for engineering and manufacturing in multiple sectors, including computers, aerospace, and automobiles Bezos will act as co-chief executive alongside Vik Bajaj, a prominent Silicon Valley researcher who also worked with Google co-founder Sergey Brin at the tech giant's experimental X lab, who also co-founded life sciences research unit Verily. What is Project Prometheus? Based on a report published in the New York Times, the project 'Prometheus' focuses on developing advanced artificial intelligence tools to accelerate engineering and manufacturing processes in sectors like aerospace, automobiles, and computing. The company employs researchers from leading AI firms and aims to create AI models that learn from complex physical experiments rather than just text. The Project Prometheus aligns with the broader vision of Bezos for space exploration and technological innovation, integrating AI applications to support robotics, scientific discovery, and cost-effective off-planet labour. The startup is already working with more than 100 staff members, including AI researchers from companies like Meta, OpenAI, and Google DeepMind. The AI race has transformed into one of the most significant battlegrounds in tech over the past few years as soon ChatGPT’s breakout in late 2022. As a result, giant IT companies like Meta, Microsoft, and Google have also shifted their focus toward AI. Unlike the generative AI technology behind ChatGPT, it also focuses on developing systems that learn from real-world experimentation, rather than just digital text, to intensify scientific discovery in physics, chemistry and engineering. Also read: Elon Musk calls Jeff Bezos a ‘copycat’ after Amazon founder launches $6.2B AI startup ‘Prometheus’

Jeff Bezos will act as co-chief executive alongside Vik Bajaj, a prominent Silicon Valley researcher who also worked with Google co-founder Sergey Brin at the tech giant's experimental X lab, who also co-founded life sciences research unit Verily.

What is Project 'Prometheus'? Jeff Bezos’ $6.2B AI startup to transform THESE sectors

The founder of xAI, Elon Musk, has mocked Jeff Bezos by calling him a “copycat” after reports surfaced that the founder of Amazon is coming up with his new venture called ‘Project Prometheus’, which has already raised $6.2 billion. He will act as co-chief executive of the AI startup, with a significant contribution to its founding from his end, according to The New York Times.&nbsp;After the news about Prometheus surfaced, Elon Musk didn’t hold back and wrote on X, “Haha no way … Copy 🐈” (sic), openly accusing Jeff Bezos of mimicking his AI ambitions, a charge he’s levelled before. Musk’s own venture, xAI, is already a major player in the generative AI space.&nbsp;It isn’t the first time the Tesla and SpaceX chief has used the “copycat” dig. In 2020, he hurled the same insult at Bezos after Amazon bought the self-driving startup Zoox.&nbsp;This will be the first time that Jeff Bezos will return to an executive position since stepping down as the CEO of Amazon in 2021. He will share the position of CEO of Project Prometheus with Vik Bajaj, co-founder of Verily and Foresite Labs.<h3>What is Project Prometheus?</h3>The startup is set to build AI products for engineering and manufacturing in multiple sectors, which include computers, aerospace, and automobiles, according to the NYT report. The startup is already working with more than 100 staff members, including AI researchers from companies like Meta, OpenAI, and Google DeepMind.&nbsp;The AI race has transformed into one of the most significant battlegrounds in tech over the past few years as soon ChatGPT’s breakout in late 2022. As a result, giant IT companies like Meta, Microsoft, and Google have also shifted their focus toward AI.&nbsp;Also read: <a href="https://www.wionews.com/photos/-day-vs-night-when-is-the-best-time-to-fill-petrol-in-your-car-1763310782901">'Day vs Night': When is the best time to fill petrol in your car?</a>

This will be the first time that Jeff Bezos will return to an executive position since stepping down as the CEO of Amazon in 2021. He will share the position of CEO of Project Prometheus with Vik Bajaj, co-founder of Verily and Foresite Labs.

The founder of xAI, Elon Musk, has mocked Jeff Bezos by calling him a “copycat” after reports surfaced that the founder of Amazon is coming up with his new venture called ‘Project Prometheus’, which has already raised $6.2 billion. He will act as co-chief executive of the AI startup, with a significant contribution to its founding from his end, according to The New York Times. After the news about Prometheus surfaced, Elon Musk didn’t hold back and wrote on X, “Haha no way … Copy 🐈” (sic), openly accusing Jeff Bezos of mimicking his AI ambitions, a charge he’s levelled before. Musk’s own venture, xAI, is already a major player in the generative AI space. It isn’t the first time the Tesla and SpaceX chief has used the “copycat” dig. In 2020, he hurled the same insult at Bezos after Amazon bought the self-driving startup Zoox. This will be the first time that Jeff Bezos will return to an executive position since stepping down as the CEO of Amazon in 2021. He will share the position of CEO of Project Prometheus with Vik Bajaj, co-founder of Verily and Foresite Labs. What is Project Prometheus? The startup is set to build AI products for engineering and manufacturing in multiple sectors, which include computers, aerospace, and automobiles, according to the NYT report. The startup is already working with more than 100 staff members, including AI researchers from companies like Meta, OpenAI, and Google DeepMind. The AI race has transformed into one of the most significant battlegrounds in tech over the past few years as soon ChatGPT’s breakout in late 2022. As a result, giant IT companies like Meta, Microsoft, and Google have also shifted their focus toward AI. Also read: 'Day vs Night': When is the best time to fill petrol in your car?

This will be the first time that Jeff Bezos will return to an executive position since stepping down as the CEO of Amazon in 2021. He will share the position of CEO of Project Prometheus with Vik Bajaj, co-founder of Verily and Foresite Labs.

Elon Musk calls Jeff Bezos a ‘copycat’ after Amazon founder launches $6.2B AI startup 'Prometheus'

Lenskart has joined a growing list of Indian companies that performed weakly on their stock market debut. This appears to be becoming a steady phenomenon: despite hype and lofty grey‑market premiums (GMP), the actual stock market showing of several IPOs is modest. The GMP — once considered a reliable predictor of listing performance — is proving less accurate. Is India’s IPO landscape shifting from irrational exuberance to investor scrutiny?<h2>LIC’s blockbuster IPO that turned into a dud</h2>Back in May 2022, the pandemic‑era investor euphoria ran into a reality check. LIC, the state‑owned insurance giant, listed at around ₹867 on the BSE — about 8.6 per cent below its issue price of ₹949. By the end of the trading day, shares settled at roughly ₹875. Earlier, its GMP had been quoted as high as ₹85, suggesting a possible listing at a premium — an expectation that was sharply reversed.Also read: <a href="https://www.wionews.com/business-economy/boat-gets-regulatory-nod-for-ipo-aman-gupta-s-offer-for-sale-revealed-report-1761733594231">Boat gets regulatory nod for IPO, Aman Gupta's&nbsp;offer for sale revealed: Report</a><h2>The Lenskart IPO and flat returns</h2>Three years since the LIC shocker, Lenskart, backed by investor giants such as SoftBank, listed on November 10, only to emerge as a cautionary tale. The eyewear retailer had strong credentials going into the IPO: a 28.3× subscription, FY25 revenue of ₹66.53 billion (up 23 per cent), and a GMP that had peaked around ₹108. But, just before listing, the GMP collapsed to roughly ₹10. Lenskart’s shares opened at ₹395 on the NSE — 1.75 per cent below the ₹402 issue price — and closed the day at ₹404.55, barely +0.6 per cent. As of now, its share price hovers around ₹405, just 0.7 per cent above issue, a far cry from the earlier GMP-driven optimism.<a href="https://www.wionews.com/videos/inside-india-s-ipo-boom-what-s-driving-record-breaking-listings-1762417418183/embed">https://www.wionews.com/videos/inside-india-s-ipo-boom-what-s-driving-record-breaking-listings-1762417418183/embed</a><h2>What Lenskart IPO tells us about Indian stock market</h2>Lenskart’s flat debut raises a stark question: is the IPO boom over, or are investors simply waking up? Compared with the frenetic market of 2021–22, when GMP often converted into 50 per cent+ listing gains, recent IPOs suggest a more cautious, measured investor mindset. In Lenskart’s case, despite aggressive bidding during subscription, the grey market cooled markedly before listing — implying that speculative FOMO - fear of missing out - may be waning.Also read: <a href="https://www.wionews.com/business-economy/lg-electronics-to-bring-ipo-in-india-5-points-on-south-korean-giant-s-planned-offering-1757316356342">LG Electronics to bring IPO in India: 5 points on South Korean giant's planned offering</a><h2>Not all IPOs are disappointing, because…</h2>In spite of the waxing and waning, some IPOs have done well. For example, IREDA — the government-backed renewable energy financier — saw GMP near +37.5  per cent and went on to list at a 56.25  per cent premium from its ₹32 issue price. Since then, its shares have steadily moved, up to 365 per cent from issue price. This suggests that if fundamentals align — especially in policy-driven or growth sectors — patient, long-term investors can be rewarded.Also read: <a href="https://www.wionews.com/business-economy/india-s-ipo-market-holds-firm-in-h1-2025-despite-global-jitters-says-ey-report-1752990788054">India’s IPO market holds firm in H1 2025 despite global jitters, says EY report</a><h2>GMP failed to translate into real gains</h2>Analysts had warned that Lenskart’s business model was capital-intensive and that returns on capital might remain modest. That caution seems justified now, as GMP failed to translate into real gains, reinforcing the idea that grey‑market premiums are poor proxies for long-term profitability.In short, GMP may no longer be a sign of long-term strength of a company, with recent listings proving the clear disconnect. Investors — both retail and institutional — now appear to be focusing more on metrics such as revenue growth, cash flows, and profitability, rather than just hype.<h2>So, is the Indian IPO market dead?&nbsp;</h2>Not at all. But the era of “get-rich-quick” IPO plays, driven purely by GMP and marketing hype, seems to be fading. We may be entering a phase of greater market maturity, where capital flows are more discerning. Companies will need to price their IPOs more sensibly, and investors will need to exercise more discipline.The Lenskart episode is not the death knell of IPOs, but it is a wake-up call.&nbsp; &nbsp;

India’s IPO market is maturing as GMP hype fades. Lenskart IPO resulted in modest listings, while IREDA's IPO soared. These mixed market response signals a shift from speculative frenzy to disciplined investing.

Lenskart has joined a growing list of Indian companies that performed weakly on their stock market debut. This appears to be becoming a steady phenomenon: despite hype and lofty grey‑market premiums (GMP), the actual stock market showing of several IPOs is modest. The GMP — once considered a reliable predictor of listing performance — is proving less accurate. Is India’s IPO landscape shifting from irrational exuberance to investor scrutiny? LIC’s blockbuster IPO that turned into a dud Back in May 2022, the pandemic‑era investor euphoria ran into a reality check. LIC, the state‑owned insurance giant, listed at around ₹867 on the BSE — about 8.6 per cent below its issue price of ₹949. By the end of the trading day, shares settled at roughly ₹875. Earlier, its GMP had been quoted as high as ₹85, suggesting a possible listing at a premium — an expectation that was sharply reversed. Also read: Boat gets regulatory nod for IPO, Aman Gupta's offer for sale revealed: Report The Lenskart IPO and flat returns Three years since the LIC shocker, Lenskart, backed by investor giants such as SoftBank, listed on November 10, only to emerge as a cautionary tale. The eyewear retailer had strong credentials going into the IPO: a 28.3× subscription, FY25 revenue of ₹66.53 billion (up 23 per cent), and a GMP that had peaked around ₹108. But, just before listing, the GMP collapsed to roughly ₹10. Lenskart’s shares opened at ₹395 on the NSE — 1.75 per cent below the ₹402 issue price — and closed the day at ₹404.55, barely +0.6 per cent. As of now, its share price hovers around ₹405, just 0.7 per cent above issue, a far cry from the earlier GMP-driven optimism. https://www.wionews.com/videos/inside-india-s-ipo-boom-what-s-driving-record-breaking-listings-1762417418183/embed What Lenskart IPO tells us about Indian stock market Lenskart’s flat debut raises a stark question: is the IPO boom over, or are investors simply waking up? Compared with the frenetic market of 2021–22, when GMP often converted into 50 per cent+ listing gains, recent IPOs suggest a more cautious, measured investor mindset. In Lenskart’s case, despite aggressive bidding during subscription, the grey market cooled markedly before listing — implying that speculative FOMO - fear of missing out - may be waning. Also read: LG Electronics to bring IPO in India: 5 points on South Korean giant's planned offering Not all IPOs are disappointing, because… In spite of the waxing and waning, some IPOs have done well. For example, IREDA — the government-backed renewable energy financier — saw GMP near +37.5  per cent and went on to list at a 56.25  per cent premium from its ₹32 issue price. Since then, its shares have steadily moved, up to 365 per cent from issue price. This suggests that if fundamentals align — especially in policy-driven or growth sectors — patient, long-term investors can be rewarded. Also read: India’s IPO market holds firm in H1 2025 despite global jitters, says EY report GMP failed to translate into real gains Analysts had warned that Lenskart’s business model was capital-intensive and that returns on capital might remain modest. That caution seems justified now, as GMP failed to translate into real gains, reinforcing the idea that grey‑market premiums are poor proxies for long-term profitability. In short, GMP may no longer be a sign of long-term strength of a company, with recent listings proving the clear disconnect. Investors — both retail and institutional — now appear to be focusing more on metrics such as revenue growth, cash flows, and profitability, rather than just hype. So, is the Indian IPO market dead? Not at all. But the era of “get-rich-quick” IPO plays, driven purely by GMP and marketing hype, seems to be fading. We may be entering a phase of greater market maturity, where capital flows are more discerning. Companies will need to price their IPOs more sensibly, and investors will need to exercise more discipline. The Lenskart episode is not the death knell of IPOs, but it is a wake-up call.

India’s IPO market is maturing as GMP hype fades. Lenskart IPO resulted in modest listings, while IREDA's IPO soared. These mixed market response signals a shift from speculative frenzy to disciplined investing. &nbsp;

LIC to Lenskart: Is India’s IPO party over, or are investors growing up? Lessons and cautionary tales

They say you don’t need to put a lid on a bucket full of crabs for fear of them escaping: they will just pull each other down and make sure none rises above the others. Something similar to this ‘crab mentality’ is happening in China’s economy. Intense competition is slowing growth across multiple sectors. Economists are describing this race to the bottom as ‘involution’, or ‘neijuan’ in Mandarin. Despite massive investment, Chinese companies report slower revenue growth, and workers face rising pressure for little gain. Here is what you should know about this phenomenon.<h2>What is involution? Self-defeating competition affecting Chinese firms</h2>China has launched an anti-involution campaign to curb overexpansion and enforce industry consolidation. Involution occurs when companies, workers, or industries invest heavily in resources and capital into a fixed or shrinking set of opportunities and sectors, resulting in diminishing returns, overcapacity, and little real progress. Firms engage in price wars, overproduction, leading to margin erosion. Workers face heavier workloads and credential inflation without corresponding wage or productivity gains. Weak domestic demand, excess capacity, and difficulty shifting from investment-led growth to consumption-driven models exacerbate the problem. Since the early 2020s, the term has been widely used to describe challenges in manufacturing, tech, real estate, and education.<h2>Factors that show China’s economy in involution: Slowing GDP growth</h2>China’s GDP growth is slowing despite heavy investment. Full-year growth for 2025 is projected at 4.8 per cent, below the 5 to 6 per cent target of previous years. The first quarter grew only 1.2 per cent, down from 1.6 per cent in the last quarter of 2024. Fixed-asset investment fell 0.5 per cent in the first nine months, the first decline in decades. Despite trillions of yuan in government stimulus, results have been minimal, as resources chase saturated markets, rather than creating new opportunities.Also read: <a href="https://www.wionews.com/business-economy/china-s-industrial-profits-keep-shrinking-in-june-as-price-wars-take-a-toll-1753611669973">China’s industrial profits keep shrinking in June as price wars take a toll</a><h2>Chinese youth unemployment is surging</h2>As of August 2025, urban unemployment for people aged 16 to 24 reached nearly 19 per cent, up from 17.8 per cent in July. Millions of graduates face high-pressure, low-wage positions. Many take extra certifications and training, but the jobs simply do not exist. This creates a cycle of overwork, low wages and stress, leaving young workers trapped in intense competition with limited career progress.Also read: <a href="https://www.wionews.com/business-economy/china-s-economic-growth-loses-steam-in-july-as-domestic-demand-weakens-1755233264488">China’s economic growth loses steam in July as domestic demand weakens</a><h2>The real estate sector is in crisis, adding to Chinese involution</h2>Between January and October 2025, property investments fell 14.7 per cent year-on-year, with new home sales projected to drop 8 per cent. Developers are offering deep discounts, while many projects remain unfinished. Distressed sales, where properties are sold at heavy markdowns, hit 22 per cent of all transactions in 2023–2024. Oversupply has pushed prices down, and local governments are burdened with debt. The sector, once a growth engine, is now caught in a self-defeating cycle of overbuilding and price decline.<h2>Industrial sectors show involution trends</h2>Electric vehicle, solar panel, and semiconductor production are operating below capacity due to weak demand. Price wars in these sectors eroded margins and profits for everyone involved. Retail sales growth is weak, and credit demand remains subdued. Deflationary pressures persist despite policy easing. China’s trade surplus reached 88 per cent of the 2024 record by September, but this masks domestic stagnation. Beijing has introduced measures to curb output in key industries for 2025–2026, which could slow investment further.<a href="https://www.wionews.com/videos/china-s-economy-under-pressure-amid-trade-tension-1760287846568/embed">https://www.wionews.com/videos/china-s-economy-under-pressure-amid-trade-tension-1760287846568/embed</a><h2>Consumption is faltering as investment returns weaken</h2>Growth increasingly relies on exports and Chinese government support, both facing external pressures such as trade tensions with the US. Analysts call for structural reforms, including boosting household spending, clearing ‘zombie firms’—companies unable to cover debt with profits—and reducing overcapacity. Without these changes, China risks a prolonged slowdown.China’s involution shows that more money, effort, and labour do not automatically produce more growth. The economy is moving faster but achieving slower returns, caught in a cycle that threatens stability and long-term prosperity.

China’s economy is facing a unique phenomenon known as involution. It's a combination of slow  GDP growth, surge in youth unemployment, and overcapacity in sectors like real estate and electric vehicles. This is happening despite heavy investment and policy support. Here is what you should know.


They say you don’t need to put a lid on a bucket full of crabs for fear of them escaping: they will just pull each other down and make sure none rises above the others. Something similar to this ‘crab mentality’ is happening in China’s economy. Intense competition is slowing growth across multiple sectors. Economists are describing this race to the bottom as ‘involution’, or ‘neijuan’ in Mandarin. Despite massive investment, Chinese companies report slower revenue growth, and workers face rising pressure for little gain. Here is what you should know about this phenomenon. What is involution? Self-defeating competition affecting Chinese firms China has launched an anti-involution campaign to curb overexpansion and enforce industry consolidation. Involution occurs when companies, workers, or industries invest heavily in resources and capital into a fixed or shrinking set of opportunities and sectors, resulting in diminishing returns, overcapacity, and little real progress. Firms engage in price wars, overproduction, leading to margin erosion. Workers face heavier workloads and credential inflation without corresponding wage or productivity gains. Weak domestic demand, excess capacity, and difficulty shifting from investment-led growth to consumption-driven models exacerbate the problem. Since the early 2020s, the term has been widely used to describe challenges in manufacturing, tech, real estate, and education. Factors that show China’s economy in involution: Slowing GDP growth China’s GDP growth is slowing despite heavy investment. Full-year growth for 2025 is projected at 4.8 per cent, below the 5 to 6 per cent target of previous years. The first quarter grew only 1.2 per cent, down from 1.6 per cent in the last quarter of 2024. Fixed-asset investment fell 0.5 per cent in the first nine months, the first decline in decades. Despite trillions of yuan in government stimulus, results have been minimal, as resources chase saturated markets, rather than creating new opportunities. Also read: China’s industrial profits keep shrinking in June as price wars take a toll Chinese youth unemployment is surging As of August 2025, urban unemployment for people aged 16 to 24 reached nearly 19 per cent, up from 17.8 per cent in July. Millions of graduates face high-pressure, low-wage positions. Many take extra certifications and training, but the jobs simply do not exist. This creates a cycle of overwork, low wages and stress, leaving young workers trapped in intense competition with limited career progress. Also read: China’s economic growth loses steam in July as domestic demand weakens The real estate sector is in crisis, adding to Chinese involution Between January and October 2025, property investments fell 14.7 per cent year-on-year, with new home sales projected to drop 8 per cent. Developers are offering deep discounts, while many projects remain unfinished. Distressed sales, where properties are sold at heavy markdowns, hit 22 per cent of all transactions in 2023–2024. Oversupply has pushed prices down, and local governments are burdened with debt. The sector, once a growth engine, is now caught in a self-defeating cycle of overbuilding and price decline. Industrial sectors show involution trends Electric vehicle, solar panel, and semiconductor production are operating below capacity due to weak demand. Price wars in these sectors eroded margins and profits for everyone involved. Retail sales growth is weak, and credit demand remains subdued. Deflationary pressures persist despite policy easing. China’s trade surplus reached 88 per cent of the 2024 record by September, but this masks domestic stagnation. Beijing has introduced measures to curb output in key industries for 2025–2026, which could slow investment further. https://www.wionews.com/videos/china-s-economy-under-pressure-amid-trade-tension-1760287846568/embed Consumption is faltering as investment returns weaken Growth increasingly relies on exports and Chinese government support, both facing external pressures such as trade tensions with the US. Analysts call for structural reforms, including boosting household spending, clearing ‘zombie firms’—companies unable to cover debt with profits—and reducing overcapacity. Without these changes, China risks a prolonged slowdown. China’s involution shows that more money, effort, and labour do not automatically produce more growth. The economy is moving faster but achieving slower returns, caught in a cycle that threatens stability and long-term prosperity.

China’s economy is facing a unique phenomenon known as involution. It's a combination of slow &nbsp;GDP growth, surge in youth unemployment, and overcapacity in sectors like real estate and electric vehicles. This is happening despite heavy investment and policy support.&nbsp;

These 4 factors show China is facing a dangerous 'involution'. But what is it?

&nbsp;The Oracle of Omaha, Warren Buffett, did not make a bet on Google in its early years — a decision he has often publicly regretted. But now, the legendary investor has come full circle. His firm, Berkshire Hathaway, has bought shares worth 4.3 billion US dollars in Alphabet Inc, and the stock of the tech giant jumped following the announcement.<h2>What Buffett did on Alphabet Inc</h2>Buffett has generally avoided technology stocks, instead focusing on cash-steady, durable businesses. Thus, Berkshire Hathaway’s newly disclosed multibillion-dollar position in Alphabet was a surprise to markets and energised investors. Buffett has repeatedly acknowledged missing early opportunities in companies like Google and Amazon. Berkshire’s third-quarter 2025 regulatory filing shows a new position of 17.85 million Alphabet shares, valued at about 4.3 billion US dollars. This marks a departure for Berkshire, which has typically favoured banking, energy and insurance stocks.<a href="https://www.wionews.com/videos/google-accused-of-unfair-search-tactics-eu-launches-new-antitrust-probe-1763046475331/embed">https://www.wionews.com/videos/google-accused-of-unfair-search-tactics-eu-launches-new-antitrust-probe-1763046475331/embed</a><h2>Why Buffett invested in Alphabet Inc now</h2>Buffett likely saw appeal in Alphabet’s enormous free cash flow, its dominant digital advertising business, growing cloud division, and emerging AI capabilities. Alphabet Inc generated roughly 88 billion US dollars in free cash flow in 2024. Its AI updates, powered by its Gemini platform, have strengthened its competitive position against rivals. For Buffett — always a value investor — these traits possibly resembled the durable economics he seeks in long-term holdings. Even amid warnings of an AI-driven stock bubble, Berkshire’s move suggests confidence that Alphabet’s fundamentals are strong enough to outweigh short-term market noise, according to analysts.Also read: <a href="https://www.wionews.com/business-economy/alphabets-gemini-ai-sparks-market-surge-paving-the-way-for-googles-technological-leap-669862">Alphabet's Gemini AI sparks market surge, paving the way for Google's technological leap</a><h2>Alphabet shares see a Buffet bump</h2>After Berkshire’s disclosure, Alphabet shares rose. The initial stake value of about 4.34 billion US dollars for 17.85 million shares contributed to a modest lift in trading, reflecting the familiar “Buffett effect”, where his investments are seen as endorsements of a company’s intrinsic value. Alphabet stock remained near recent highs, having closed at US$ 276.41 apiece, supported by strong quarterly performance, including revenue of 84.7 billion US dollars and net income of 23.8 billion US dollars in its latest reported quarter.Also read: '<a href="https://www.wionews.com/business-economy/-milestone-quarter-sundar-pichai-reveals-google-s-bumper-earnings-amid-ai-boom-1761807089387">Milestone quarter': Sundar Pichai reveals Google's bumper earnings amid AI boom</a><h2>Buffett’s Alphabet purchase: A strategic evolution for Berkshire</h2>As Buffett’s investment firm prepares for a leadership transition — with Greg Abel set to take over — the Alphabet investment signals a willingness to selectively embrace tech giants with clear competitive advantages. For Alphabet shareholders, the move adds credibility to the long-term growth story of Google’s expansive ecosystem.&nbsp;

Warren Buffett’s Berkshire Hathaway bought 17.85 million Alphabet shares worth $4.3 billion. The Google stock has seen a 'Buffet bump', signalling a rare tech bet by the Oracle of Omaha despite AI bubble concerns.


The Oracle of Omaha, Warren Buffett, did not make a bet on Google in its early years — a decision he has often publicly regretted. But now, the legendary investor has come full circle. His firm, Berkshire Hathaway, has bought shares worth 4.3 billion US dollars in Alphabet Inc, and the stock of the tech giant jumped following the announcement. What Buffett did on Alphabet Inc Buffett has generally avoided technology stocks, instead focusing on cash-steady, durable businesses. Thus, Berkshire Hathaway’s newly disclosed multibillion-dollar position in Alphabet was a surprise to markets and energised investors. Buffett has repeatedly acknowledged missing early opportunities in companies like Google and Amazon. Berkshire’s third-quarter 2025 regulatory filing shows a new position of 17.85 million Alphabet shares, valued at about 4.3 billion US dollars. This marks a departure for Berkshire, which has typically favoured banking, energy and insurance stocks. https://www.wionews.com/videos/google-accused-of-unfair-search-tactics-eu-launches-new-antitrust-probe-1763046475331/embed Why Buffett invested in Alphabet Inc now Buffett likely saw appeal in Alphabet’s enormous free cash flow, its dominant digital advertising business, growing cloud division, and emerging AI capabilities. Alphabet Inc generated roughly 88 billion US dollars in free cash flow in 2024. Its AI updates, powered by its Gemini platform, have strengthened its competitive position against rivals. For Buffett — always a value investor — these traits possibly resembled the durable economics he seeks in long-term holdings. Even amid warnings of an AI-driven stock bubble, Berkshire’s move suggests confidence that Alphabet’s fundamentals are strong enough to outweigh short-term market noise, according to analysts. Also read: Alphabet's Gemini AI sparks market surge, paving the way for Google's technological leap Alphabet shares see a Buffet bump After Berkshire’s disclosure, Alphabet shares rose. The initial stake value of about 4.34 billion US dollars for 17.85 million shares contributed to a modest lift in trading, reflecting the familiar “Buffett effect”, where his investments are seen as endorsements of a company’s intrinsic value. Alphabet stock remained near recent highs, having closed at US$ 276.41 apiece, supported by strong quarterly performance, including revenue of 84.7 billion US dollars and net income of 23.8 billion US dollars in its latest reported quarter. Also read: 'Milestone quarter': Sundar Pichai reveals Google's bumper earnings amid AI boom Buffett’s Alphabet purchase: A strategic evolution for Berkshire As Buffett’s investment firm prepares for a leadership transition — with Greg Abel set to take over — the Alphabet investment signals a willingness to selectively embrace tech giants with clear competitive advantages. For Alphabet shareholders, the move adds credibility to the long-term growth story of Google’s expansive ecosystem.

Warren Buffett’s Berkshire Hathaway bought 17.85 million Alphabet shares worth $4.3 billion. The Google stock has seen a 'Buffet bump', signalling a rare tech bet by the Oracle of Omaha despite AI bubble concerns. &nbsp;

Warren Buffett invests $4.3 billion in Alphabet Inc as Google parent stock dances to new highs

Amazon Leo, formerly known as ‘Project Kuiper’, is the initiative of Amazon to deliver high-speed satellite internet to regions lacking reliable connectivity. By deploying thousands of low-Earth-orbit satellites, Amazon aims to reach billions of people and millions of businesses still underserved by traditional networks. The system is designed to cover most countries and extend stable internet access even to remote, rural, or hard-to-reach areas where building physical infrastructure is too difficult or costly.&nbsp;The initiative of Amazon is likely to give competition to Elon Musk's Starlink, which is also a satellite internet facility provided by SpaceX that uses a constellation of thousands of cin low Earth orbit (LEO) to deliver high-speed internet globally. It is designed to provide internet access to areas where traditional services are unreliable or unavailable, and it supports activities like streaming, online gaming, and video calls.<h3>What is Amazon Leo?</h3>Project Kuiper is now officially known as Amazon Leo, alluding to the Kuiper Belt, the asteroid belt beyond Neptune. The new name of Kuiper references Low-Earth Orbit (LEO), which orbits up to 1,200 miles (2,000 kilometres) above Earth, where 153 satellites of the Amazon currently operate.&nbsp;It aims to expand reliable internet access to underserved and remote regions worldwide, addressing connectivity gaps that persist even near major cities due to cost, terrain, and infrastructure constraints. While satellite broadband can bridge these gaps, it demands significant technological innovation and investment, an area where Amazon plans to leverage its scale to help narrow the global digital divide.&nbsp;Amazon Leo, headquartered in Redmond, Washington, with a satellite production facility in nearby Kirkland, is capable of building up to five satellites daily. A satellite processing centre at the Kennedy Space Centre in Florida supports launches through partners such as Blue Origin, SpaceX, and United Launch Alliance.<h3>What does Amazon Leo facilitates to users?</h3>This system is built on three main components: ground infrastructure, satellites, and customer terminals. Ground stations include gateway antennas for secure data transmission and TT&amp;C antennas that monitor satellite health. Satellites of this system are placed at the low Earth orbit relay between users and gateways, while customer terminals—Leo Nano, Pro, and Ultra, which deliver internet access tailored to different needs.&nbsp;Amazon decided to deploy over 3,000 satellites operating 590–630 km above Earth. The company has booked more than 80 launches, marking the largest commercial launch procurement to date, with safety and sustainability guiding the constellation’s design.&nbsp;User terminals will offer speeds of up to 100 Mbps (Nano), 400 Mbps (Pro), and 1 Gbps (Ultra). Amazon Leo expects enterprise service rollout in late 2025, with wider availability in 2026 as coverage expands.

The initiative of Amazon is likely to give competition to Elon Musk's Starlink, which is also a satellite internet facility provided by SpaceX that uses a constellation of thousands of cin low Earth orbit (LEO) to deliver high-speed internet globally.

Amazon Leo, formerly known as ‘Project Kuiper’, is the initiative of Amazon to deliver high-speed satellite internet to regions lacking reliable connectivity. By deploying thousands of low-Earth-orbit satellites, Amazon aims to reach billions of people and millions of businesses still underserved by traditional networks. The system is designed to cover most countries and extend stable internet access even to remote, rural, or hard-to-reach areas where building physical infrastructure is too difficult or costly. The initiative of Amazon is likely to give competition to Elon Musk's Starlink, which is also a satellite internet facility provided by SpaceX that uses a constellation of thousands of cin low Earth orbit (LEO) to deliver high-speed internet globally. It is designed to provide internet access to areas where traditional services are unreliable or unavailable, and it supports activities like streaming, online gaming, and video calls. What is Amazon Leo? Project Kuiper is now officially known as Amazon Leo, alluding to the Kuiper Belt, the asteroid belt beyond Neptune. The new name of Kuiper references Low-Earth Orbit (LEO), which orbits up to 1,200 miles (2,000 kilometres) above Earth, where 153 satellites of the Amazon currently operate. It aims to expand reliable internet access to underserved and remote regions worldwide, addressing connectivity gaps that persist even near major cities due to cost, terrain, and infrastructure constraints. While satellite broadband can bridge these gaps, it demands significant technological innovation and investment, an area where Amazon plans to leverage its scale to help narrow the global digital divide. Amazon Leo, headquartered in Redmond, Washington, with a satellite production facility in nearby Kirkland, is capable of building up to five satellites daily. A satellite processing centre at the Kennedy Space Centre in Florida supports launches through partners such as Blue Origin, SpaceX, and United Launch Alliance. What does Amazon Leo facilitates to users? This system is built on three main components: ground infrastructure, satellites, and customer terminals. Ground stations include gateway antennas for secure data transmission and TT&C antennas that monitor satellite health. Satellites of this system are placed at the low Earth orbit relay between users and gateways, while customer terminals—Leo Nano, Pro, and Ultra, which deliver internet access tailored to different needs. Amazon decided to deploy over 3,000 satellites operating 590–630 km above Earth. The company has booked more than 80 launches, marking the largest commercial launch procurement to date, with safety and sustainability guiding the constellation’s design. User terminals will offer speeds of up to 100 Mbps (Nano), 400 Mbps (Pro), and 1 Gbps (Ultra). Amazon Leo expects enterprise service rollout in late 2025, with wider availability in 2026 as coverage expands.

The initiative of Amazon is likely to give competition to Elon Musk's Starlink, which is also a satellite internet facility provided by SpaceX that uses a constellation of thousands of cin low Earth orbit (LEO) to deliver high-speed internet globally.

What is Amazon Leo? The e-commerce platform to challenge Elon Musk's Starlink in space-internet battle

Businessman Anil Ambani has agreed to appear before the Enforcement Directorate (ED) in a 15-Year-Old FEMA Case. In his request the Reliance Group chairman said he is available to appear before the investigating agency through video conferencing, after summons were issued to him under the Foreign Exchange Management Act (FEMA). for Friday.&nbsp;A statement issued by a spokesperson of the 66-year-old industrialist said that Anil has agreed to extend “full cooperation” in the probe.&nbsp;The summons are for the case related to a FEMA inquiry and not the Prevention of Money Laundering Act (PMLA) that certain sections of the media have reported.<h2>What is the FEMA case?</h2>&nbsp;The investigation is in connection to the alleged transfer of funds linked to the Jaipur–Reengus Highway Project, where the ED suspects nearly Rs 100 crore were illicitly transferred abroad through hawala channels, reported Zee Business.&nbsp;The project was under the name of Reliance Infrastructure Ltd and was executed under an EPC contract.<h2>What did Anil say?</h2>Anil Ambani's spokesperson while speaking to the media said that the industrialist had no operational role in the company and only served as a non-executive director at Reliance Infrastructure from April 2007 to March 2022&nbsp;The company says that the JR Toll Road construction completed in 2021 and was handed over to NHAI. Therefore, the question of any foreign exchange regulation violation does not arise.&nbsp;&nbsp;

A statement issued by a spokesperson of the 66-year-old industrialist said that Anil has agreed to extend “full cooperation” in the probe.

Businessman Anil Ambani has agreed to appear before the Enforcement Directorate (ED) in a 15-Year-Old FEMA Case. In his request the Reliance Group chairman said he is available to appear before the investigating agency through video conferencing, after summons were issued to him under the Foreign Exchange Management Act (FEMA). for Friday. A statement issued by a spokesperson of the 66-year-old industrialist said that Anil has agreed to extend “full cooperation” in the probe. The summons are for the case related to a FEMA inquiry and not the Prevention of Money Laundering Act (PMLA) that certain sections of the media have reported. What is the FEMA case? The investigation is in connection to the alleged transfer of funds linked to the Jaipur–Reengus Highway Project, where the ED suspects nearly Rs 100 crore were illicitly transferred abroad through hawala channels, reported Zee Business. The project was under the name of Reliance Infrastructure Ltd and was executed under an EPC contract. What did Anil say? Anil Ambani's spokesperson while speaking to the media said that the industrialist had no operational role in the company and only served as a non-executive director at Reliance Infrastructure from April 2007 to March 2022 The company says that the JR Toll Road construction completed in 2021 and was handed over to NHAI. Therefore, the question of any foreign exchange regulation violation does not arise.

A statement issued by a spokesperson of the 66-year-old industrialist said that Anil has agreed to extend “full cooperation” in the probe.

Anil Ambani offers to appear virtually before ED in FEMA Case

The Bombay High Court has issued a notice to Reliance Industries Limited (RIL) and its directors, including Mukesh Ambani for 'stealing' natural gas from the wells of KG Basin off the coast of Andhra Pradesh. The notice was issued on a petition seeking CBI investigation into the alleged theft &nbsp;worth over $1.55 billion. In the petition, it has been alleged that RIL drilled the KG-D6 blocks between 2004 and 2013-14 in a manner that led to the extraction of gas belonging to ONGC’s northern fields, reported Zee Business.&nbsp;The alleged theft of gas is estimated at a value of over $1.55 billion (around Rs 13,000-14,000 crore), while the interest sums to be about $174.9 million. Theft, fraud and criminal breach of trust are the charges against RIL.The CBI and Union government have been asked by the Bombay High Court to respond in the case by November 11.<h2>RIL's Defence</h2>RIL argues that the extraction was legal as the gas was “migratory” -- naturally crossing block boundaries. It says that the controversy is not new and &nbsp;is part of an older civil–arbitral dispute.&nbsp;Petroleum consulting company DeGolyer and MacNaughton did say that gas migration occurred, but whether there were legal implications was not clear.<h2>What did the court say?</h2>&nbsp;The court has asked the CBI and Union government whether a full CBI probe is needed, an FIR should be filed and any contractual seizure is warranted.Issuing a notice is the first procedural step, and does not indicate guilt.&nbsp;If CBI takes up investigation in the case then major resource-related disputes may involve criminal liability other than just civil claims, the Zee Business report said.The &nbsp;scale of alleged irregularity in a resource-based contract makes the case significant. It also raises questions around corporate liability and contract norms as analysed by experts.&nbsp;

The court has asked the CBI and Union government whether a full CBI probe is needed, an FIR should be filed and any contractual seizure is warranted.

The Bombay High Court has issued a notice to Reliance Industries Limited (RIL) and its directors, including Mukesh Ambani for 'stealing' natural gas from the wells of KG Basin off the coast of Andhra Pradesh. The notice was issued on a petition seeking CBI investigation into the alleged theft worth over $1.55 billion. In the petition, it has been alleged that RIL drilled the KG-D6 blocks between 2004 and 2013-14 in a manner that led to the extraction of gas belonging to ONGC’s northern fields, reported Zee Business. The alleged theft of gas is estimated at a value of over $1.55 billion (around Rs 13,000-14,000 crore), while the interest sums to be about $174.9 million. Theft, fraud and criminal breach of trust are the charges against RIL. The CBI and Union government have been asked by the Bombay High Court to respond in the case by November 11. RIL's Defence RIL argues that the extraction was legal as the gas was “migratory” -- naturally crossing block boundaries. It says that the controversy is not new and is part of an older civil–arbitral dispute. Petroleum consulting company DeGolyer and MacNaughton did say that gas migration occurred, but whether there were legal implications was not clear. What did the court say? The court has asked the CBI and Union government whether a full CBI probe is needed, an FIR should be filed and any contractual seizure is warranted. Issuing a notice is the first procedural step, and does not indicate guilt. If CBI takes up investigation in the case then major resource-related disputes may involve criminal liability other than just civil claims, the Zee Business report said. The scale of alleged irregularity in a resource-based contract makes the case significant. It also raises questions around corporate liability and contract norms as analysed by experts.

The court has asked the CBI and Union government whether a full CBI probe is needed. An FIR should be filed and any contractual seizure is warranted.

Reliance Industries issued notice for alleged $1.55 billion gas theft from ONGC fields

The BBC said Thursday (Nov 13) that its chairman has written to US President Donald Trump to apologise for a misleading edit of one of his speeches, but insisted the mistake does not amount to defamation. The move comes as the broadcaster faces growing scrutiny over how it portrayed Trump's January 6, 2021, speech in a "Panorama" documentary aired last year. On Monday, the BBC admitted that the edit wrongly gave the impression that Trump had directly called for violent action before the Capitol riot. The fallout has already led to the resignations of the director-general and the BBC's head of news, and triggered a threat from Trump's legal team to sue for $1 billion.Also read | <a href="https://www.wionews.com/trending/trump-has-a-meltdown-over-new-epstein-emails-calls-it-a-democrat-trap-1762998376011">Trump has a meltdown over new Epstein emails, calls it a Democrat 'trap'</a><h2>BBC apologises to Trump</h2>BBC chair Samir Shah, according to AFP, has sent a personal letter to the White House, telling Trump that both he and the corporation "are sorry for the edit of the president's speech," the broadcaster said in a statement.But the BBC pushed back on claims of defamation, saying in a statement that while it "sincerely regrets the manner in which the video clip was edited," it "strongly disagrees" that Trump has grounds for a lawsuit. BBC lawyers have written to Trump’s team laying out their position, it added.Also read | <a href="https://www.wionews.com/world/us-pushes-un-to-back-trump-s-gaza-peace-plan-warns-delay-will-gravely-hurt-palestinians-1763080241222">US pushes UN to back Trump’s Gaza peace plan, warns delay will 'gravely' hurt Palestinians</a><h2>Another speech "edited" to defame Trump?</h2>The controversy widened Thursday as the BBC confirmed it is now reviewing a second instance where Trump's words may have been stitched together in a misleading way. According to The Telegraph, a 2022 "Newsnight" report edited lines from different parts of Trump's speech to make it appear he told supporters to march to the Capitol and "fight like hell."A BBC spokesperson said the issue "has been brought to our attention and we are now looking into it."The editing storm has erupted at a sensitive moment for the broadcaster, which is preparing for negotiations over its Royal Charter renewal. The current charter expires in 2027. Prime Minister Keir Starmer’s government has so far tried to avoid getting pulled into a fight with Trump, stressing the importance of the BBC's independence while steering clear of taking sides. &nbsp;

The BBC has apologised to Donald Trump for a misleading edit of his January 6 speech but says the error is not defamation, despite his threat to sue for $1 billion.

The BBC said Thursday (Nov 13) that its chairman has written to US President Donald Trump to apologise for a misleading edit of one of his speeches, but insisted the mistake does not amount to defamation. The move comes as the broadcaster faces growing scrutiny over how it portrayed Trump's January 6, 2021, speech in a "Panorama" documentary aired last year. On Monday, the BBC admitted that the edit wrongly gave the impression that Trump had directly called for violent action before the Capitol riot. The fallout has already led to the resignations of the director-general and the BBC's head of news, and triggered a threat from Trump's legal team to sue for $1 billion. Also read | Trump has a meltdown over new Epstein emails, calls it a Democrat 'trap' BBC apologises to Trump BBC chair Samir Shah, according to AFP, has sent a personal letter to the White House, telling Trump that both he and the corporation "are sorry for the edit of the president's speech," the broadcaster said in a statement. But the BBC pushed back on claims of defamation, saying in a statement that while it "sincerely regrets the manner in which the video clip was edited," it "strongly disagrees" that Trump has grounds for a lawsuit. BBC lawyers have written to Trump’s team laying out their position, it added. Also read | US pushes UN to back Trump’s Gaza peace plan, warns delay will 'gravely' hurt Palestinians Another speech "edited" to defame Trump? The controversy widened Thursday as the BBC confirmed it is now reviewing a second instance where Trump's words may have been stitched together in a misleading way. According to The Telegraph, a 2022 "Newsnight" report edited lines from different parts of Trump's speech to make it appear he told supporters to march to the Capitol and "fight like hell." A BBC spokesperson said the issue "has been brought to our attention and we are now looking into it." The editing storm has erupted at a sensitive moment for the broadcaster, which is preparing for negotiations over its Royal Charter renewal. The current charter expires in 2027. Prime Minister Keir Starmer’s government has so far tried to avoid getting pulled into a fight with Trump, stressing the importance of the BBC's independence while steering clear of taking sides.

The BBC has apologised to Donald Trump for a misleading edit of his January 6 speech but says the error is not defamation, despite his threat to sue for $1 billion.

BBC apologises to Trump for misleading edit as $1 billion lawsuit threat looms

The United States has officially stopped minting pennies after more than two centuries, bringing an end to one of the country's oldest and most familiar coins. The final penny was struck on Wednesday (Nov 12) at the Philadelphia Mint by US Treasurer Brandon Beach, marking the close of a 232-year production run. Acting Mint Director Kristie McNally said that while the general production of new pennies "concludes today, the penny's legacy lives on."<h2>Will the US pennies be removed from the market?</h2>According to AFP, around 300 billion pennies are currently in circulation, and for now, Americans can still use the one-cent coin. However, with the end of production, no new ones will enter the system. The move, long debated in Washington, is part of an effort to reduce unnecessary government spending.President Donald Trump had first called for the penny’s retirement in February, arguing that it was important to slash government spending.Also read | <a href="https://www.wionews.com/trending/trump-has-a-meltdown-over-new-epstein-emails-calls-it-a-democrat-trap-1762998376011">Trump has a meltdown over new Epstein emails, calls it a Democrat 'trap'</a><h2>Why has the US stopped production of pennies?</h2>Producing a coin worth one cent costs more than three cents. As Trump put it, "For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!". In his February "Truth" the POTUS said that he instructed his Secretary of the US Treasury to stop producing new pennies. "Let's rip the waste out of our great nations budget, even if it's a penny at a time," he added on Truth Social.

The penny has been part of American life since 1792, when it was authorised by the Coinage Act. Early versions were made of pure copper and much larger than the coins used today. Modern pennies are composed of copper-plated zinc, a change introduced in 1982 to reduce costs. Despite the switch, the price of production has continued to climb — from 1.42 cents a decade ago to 3.69 cents today, according to the Mint.Also read | <a href="https://www.wionews.com/photos/-saint-or-sinner-british-artist-crucifies-donald-trump-in-shocking-new-sculpture-1762244146589">'Saint or Sinner?': British artist crucifies Donald Trump in shocking new sculpture</a>The debate over the coin's future has been ongoing for years, with repeated proposals in Congress to phase it out. However, the previous proposals all failed.&nbsp;

The US has officially stopped minting pennies after 232 years, ending production to cut costs. The last penny was struck at the Philadelphia Mint on Nov 12. Here's all you need to know.

The United States has officially stopped minting pennies after more than two centuries, bringing an end to one of the country's oldest and most familiar coins. The final penny was struck on Wednesday (Nov 12) at the Philadelphia Mint by US Treasurer Brandon Beach, marking the close of a 232-year production run. Acting Mint Director Kristie McNally said that while the general production of new pennies "concludes today, the penny's legacy lives on." Will the US pennies be removed from the market? According to AFP, around 300 billion pennies are currently in circulation, and for now, Americans can still use the one-cent coin. However, with the end of production, no new ones will enter the system. The move, long debated in Washington, is part of an effort to reduce unnecessary government spending. President Donald Trump had first called for the penny’s retirement in February, arguing that it was important to slash government spending. Also read | Trump has a meltdown over new Epstein emails, calls it a Democrat 'trap' Why has the US stopped production of pennies? Producing a coin worth one cent costs more than three cents. As Trump put it, "For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!". In his February "Truth" the POTUS said that he instructed his Secretary of the US Treasury to stop producing new pennies. "Let's rip the waste out of our great nations budget, even if it's a penny at a time," he added on Truth Social.

The US has officially stopped minting pennies after 232 years, ending production to cut costs. The last penny was struck at the Philadelphia Mint on Nov 12. Here's all you need to know.

'Penny for your thoughts': US stops minting pennies after 232 years. Here's why