US orders embassy staff, families to leave Saudi Arabia amid Houthi attacks: Report

US midterms 2026: Trump's approval rating hits record low as Democrats gain ground

‘Her heart and mind in good shape’: What Helen Haines’ husband said after MP loses both legs in ‘targeted’ attack

 US business activity grows in June, but tariffs and inflation cloud outlook 

Trump says end to Ukraine war is 'closer than ever'; Witkoff's Putin remarks spark criticism

What is the real meaning behind Pete Hegseth's tattoos?

Macron slams Trump and other foreign leaders' 'stupid comments' on France riots as fresh protests loom

Zohran Mamdani's Garba dance goes viral as he joins Indian community's Navratri celebrations | WATCH

Trump waves at 'empty space' in viral video,' critics claim 'mental decline getting worse' | WATCH

Explosions heard in Iran’s Hormozgan province near Strait of Hormuz: State media

Hunger makes alcohol more appealing, study finds

India to develop first indigenous aviation gun for Prachand, Rudra attack helicopters, SSS Defence CEO confirms

Meta slapped with $25 billion fine in New Mexico over Facebook data practices, company plans appeal

Priyanka Chopra celebrates Dussehra 2026 with Nick Jonas and daughter Malti Marie | See pics

New OTT releases this week (October 19-25, 2026): Gajab Raat to Chaar Yaar-8 titles to watch during Dussehra week on Netflix, Prime Video and more

'You are a dummy, you are a stupid person': Trump loses temper with CNN, ABC reporters after questions about Russia sanctions

Shock, anger and despair in Bangladesh over the executions 

Finance influencer dies by suicide in Chennai; father accuses tech CEO, who denies charge

'I’m not saying it’s extraterrestrial' - 'Mutant' creature forces Mexicans to flee their homes

WATCH | Mysterious haze grips Ohio city as toxic chemical leak forces mass evacuation – What is happening?

US Midterms 2026: Sugar Land, Plano, Irving: How Texas’s Indian-American belt could shape poll outcomes

Ramayana promotion takes a funny turn after Ranbir Kapoor's verbal blunder, leaves fans in splits | Watch

Rafale Marine fighter begins flight trials in Goa ahead of Indian Navy induction

‘I caution the president...’: Trump’s ex-press secretary warns after Zacharia’s exit

Israel election 2026: Three possible scenarios after October 27 polls

US Midterms 2026 and money: From Bloomberg to Musk, corporate donors, super PACs and lobbies, it's all about the cash

Russia to send first tanker carrying 40,000 tonnes diesel to US after Trump-Putin deal – What we know

Feds obtain DNA evidence that could prove Ilhan Omar married her brother: Report

Are the US and Israel preparing for another major attack on Iran? Here's what report claims

US midterms 2026: What polls and prediction markets indicate about Congress

Kim Jong Un death rumors explode | China accused of secretly sending troops to Pyongyang

US midterms: Democrats sue Trump administration over alleged 'threats and intimidation' ahead of election, Musk issues warning to Dems

James Bond auction: Own Daniel Craig's Skyfall suit, Ana de Armas' dress and 300+ rare 007 collectibles

Kolkata airport: CISF detects ₹1.13 crore in US dollars hidden in bags of 2 Bangkok-bound passengers

American Express is looking to hire around 1,500 people for technology roles, shrugging off fears of an economic slowdown that has prompted other US financial companies to cut jobs in recent months.

World Business Watch: American Express to hire 1,500 tech staff by year-end

Uber's computer network was breached by a cyber attacker last Thursday. Uber laid the blame on hacking group Lapsus$, which used similar attacks to breach Microsoft, Cisco, Samsung, Nvidia, Okta and others in 2022.

World Business Watch: Uber blames hacking group Lapsus$ for cyber attack

Japan's core consumer inflation quickened to 2.8% in August to hit the fastest annual pace in nearly eight years. This is as price pressure from raw materials and yen weakness broadened.

World Business Watch: Japan's August consumer inflation hits near 8-year high

Wall Street’s major indexes ended a choppy session on Monday as investors looked to this week’s policy meeting at the Federal Reserve and how aggressively it will raise prices.

World Business Watch: Wall Street ends choppy session higher with firm focus on Fed

Listing of Indian start-ups was in focus last year but within months of listing the lofty valuations of many of them have crashed. The future of investors who are invested in these unicorns is uncertain with losses accumulating with every passing quarter. Nearly 12,000 startup employees have already been fired in India and the funding inflow within the startup ecosystem globally is not as abundant as before.

World Business Watch: Unicorn Start-ups: Unreal valuations, heavy losses

World Business Watch | Unicorn Start-ups: Unreal valuations, heavy losses

Ford has said inflation-related supplier costs will run about $1 billion higher than expected in the current quarter. It can also result in the firm lacking parts for around 50,000 vehicles.

World Business Watch: Ford sees inflation lifting quarterly supply costs by $1 billion

The world's largest economy, the United States of America is struggling with a 40-year high inflation. US federal reserve is poised to unleash another interest rate hike on Wednesday after the latest data showed a worrying US inflation picture.

World Business Watch: US Fed reserve set for another rate hike on Wednesday

Bitcoin on Sunday dropped 1.54% to $19,804, slipping from the 20,000 mark after losing $310 from its previous close. The world's biggest and best-known cryptocurrency is down 58.9% from the year's high of $48,234 on March 28.

World Business Watch: Bitcoin once again slips below $20,000

United Kingdom's new business secretary Kwasi Kwarteng is set to announce $30 billion in tax cuts in his emergency budget on Friday. The new chancellor is said to believe the changes will ease the cost of living and boost economic growth.

UK's new business secretary expected to announce $30 billion in tax cuts this week

Volkswagen is targeting a valuation of up to $75.1 billion for luxury sportscar maker Porsche, it said on Sunday, in what will be Germany's second-largest initial public offering (IPO) in history.

Volkswagen will price preferred shares in the flotation of Porsche AG at $76.30 to $82.28 per share, the carmaker said, translating into a valuation of $70. to S75.1 billion.

At the upper end of the range, first reported by Reuters, it would become Europe's third largest IPO on record, according to Refinitiv data. Trading will begin on the Frankfurt Stock Exchange on September 29, Volkswagen said.

As part of the listing, 911 million Porsche AG shares will be divided into 455.5 million preferred shares and 455.5 million ordinary shares. Up to 113,875,000 preferred shares, carrying no voting rights will be placed with investors over the course of the IPO.

The sovereign wealth funds of Qatar, Abu Dhabi, and Norway as well as mutual fund company T. Rowe Price will subscribe up to $3.67 billion worth of preferred shares as cornerstone investors, at the upper end of the valuation, Volkswagen said.

"We are now in the home stretch with the IPO plans for Porsche and welcome the commitment of our cornerstone investors," Volkswagen Chief Financial Officer and Chief Operating Officer Arno Antlitz said.

In line with Volkswagen's agreement earlier in September with its largest shareholder Porsche SE. 25 per cent plus one ordinary share in the sportscar brand, which do carry voting rights, will go to Porsche SE at the price of the preferred shares plus a 7.5 per cent premium.

Porsche SE, the holding firm controlled by the Porsche and Piech families, will finance the acquisition of the ordinary shares with debt capital of up to $7.8 billion, it said in a separate statement.

Total proceeds from the sale will be $17.9 billion to $19.4 billion. If the IPO goes ahead, Volkswagen will call an extraordinary shareholder meeting in December where it will propose to pay 49 per cent of total proceeds to shareholders in early 2023 as a special dividend.

A stock exchange prospectus is expected to be published on Monday, after which institutional and private investors can subscribe to Porsche shares.

WATCH WION LIVE HERE:&nbsp;

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

&nbsp;

Volkswagen is targeting a valuation of up to $75.1 billion for luxury sportscar maker Porsche, it said on Sunday, in what will be Germany's second-largest initial public offering (IPO) in history.

Volkswagen is targeting a valuation of up to $75.1 billion for luxury sportscar maker Porsche, it said on Sunday, in what will be Germany's second-largest initial public offering (IPO) in history. Volkswagen will price preferred shares in the flotation of Porsche AG at $76.30 to $82.28 per share, the carmaker said, translating into a valuation of $70. to S75.1 billion. At the upper end of the range, first reported by Reuters, it would become Europe's third largest IPO on record, according to Refinitiv data. Trading will begin on the Frankfurt Stock Exchange on September 29, Volkswagen said. As part of the listing, 911 million Porsche AG shares will be divided into 455.5 million preferred shares and 455.5 million ordinary shares. Up to 113,875,000 preferred shares, carrying no voting rights will be placed with investors over the course of the IPO. The sovereign wealth funds of Qatar, Abu Dhabi, and Norway as well as mutual fund company T. Rowe Price will subscribe up to $3.67 billion worth of preferred shares as cornerstone investors, at the upper end of the valuation, Volkswagen said. "We are now in the home stretch with the IPO plans for Porsche and welcome the commitment of our cornerstone investors," Volkswagen Chief Financial Officer and Chief Operating Officer Arno Antlitz said. In line with Volkswagen's agreement earlier in September with its largest shareholder Porsche SE. 25 per cent plus one ordinary share in the sportscar brand, which do carry voting rights, will go to Porsche SE at the price of the preferred shares plus a 7.5 per cent premium. Porsche SE, the holding firm controlled by the Porsche and Piech families, will finance the acquisition of the ordinary shares with debt capital of up to $7.8 billion, it said in a separate statement. Total proceeds from the sale will be $17.9 billion to $19.4 billion. If the IPO goes ahead, Volkswagen will call an extraordinary shareholder meeting in December where it will propose to pay 49 per cent of total proceeds to shareholders in early 2023 as a special dividend. A stock exchange prospectus is expected to be published on Monday, after which institutional and private investors can subscribe to Porsche shares. WATCH WION LIVE HERE:

Volkswagen targets $75.1 billion IPO valuation for Porsche

How the strong US dollar can affect everyone

In May this year, India became home to 100 unicorns, positioning itself as the hub of start-ups. The same year in August, 20 start-ups achieved the unicorn status. The collective valuation of these start-ups was at $341 billion.&nbsp;

Moreover, these firms were able to raise more than $94 billion in funding from outside, despite the so-called funding-winter in the domestic market.

However, behind this success story of India churning out unicorns at rapid pace, remains a grim reality plaguing the start-up ecosystem: rampant losses.

More than 10 Indian unicorn start-ups are making huge losses.

BYJUs: ₹4,588 crore 
OYO: ₹3,944 crore 
Udaan: ₹2,482 crore 
Flipkart: ₹2,446 crore 
Eruditus: ₹1,934 crore 
PhonePe: ₹1,728 crore 
Paytm: ₹1,710 crore 
Swiggy: ₹1,617 crore 
Unacademy: ₹1,537 crore 
Freshworks: ₹1,499 crore

The figures are significant considering that many of these unicorn companies are expected to launch Initial&nbsp;Public&nbsp;Offerings (IPOs) soon.

While Indian start-ups struggled to get more funding, a series of layoffs, shutdowns and multiple raids by the government on crypto startups became the headlines in August, too.&nbsp;

Edtech start-up Vedantu reportedly fired laid off 100 employees for the third time in 2022.&nbsp;

Nearly 300 Meesho employees were after the shuttering of the company’s grocery vertical Superstore, according to a report by Inc42. &nbsp;

Agritech startup DeHaat is said to have fired a significant number of employees recently.&nbsp;

Another company LEAD and social media platform Koo also joined the list.

Meanwhile, city-wise, Bengaluru continued to remain the top unicorn maker as 38 out of the 100 unicorns are based out of the city.&nbsp;

Delhi-NCR comes second in the list as 30 startups from the region managed to make it to the list of 100 unicorns.&nbsp; 
While Mumbai, Chennai, Pune and Hyderabad collectively produced 32 unicorns. 
&nbsp;

WATCH WION LIVE HERE:&nbsp;

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

In May this year, India became home to 100 unicorns, positioning itself as the hub of start-ups. The same year in August, 20 start-ups achieved the unicorn status.

In May this year, India became home to 100 unicorns, positioning itself as the hub of start-ups. The same year in August, 20 start-ups achieved the unicorn status. The collective valuation of these start-ups was at $341 billion. Moreover, these firms were able to raise more than $94 billion in funding from outside, despite the so-called funding-winter in the domestic market. However, behind this success story of India churning out unicorns at rapid pace, remains a grim reality plaguing the start-up ecosystem: rampant losses. More than 10 Indian unicorn start-ups are making huge losses. BYJUs: ₹4,588 crore OYO: ₹3,944 crore Udaan: ₹2,482 crore Flipkart: ₹2,446 crore Eruditus: ₹1,934 crore PhonePe: ₹1,728 crore Paytm: ₹1,710 crore Swiggy: ₹1,617 crore Unacademy: ₹1,537 crore Freshworks: ₹1,499 crore The figures are significant considering that many of these unicorn companies are expected to launch Initial Public Offerings (IPOs) soon. While Indian start-ups struggled to get more funding, a series of layoffs, shutdowns and multiple raids by the government on crypto startups became the headlines in August, too. Edtech start-up Vedantu reportedly fired laid off 100 employees for the third time in 2022. Nearly 300 Meesho employees were after the shuttering of the company’s grocery vertical Superstore, according to a report by Inc42. Agritech startup DeHaat is said to have fired a significant number of employees recently. Another company LEAD and social media platform Koo also joined the list. Meanwhile, city-wise, Bengaluru continued to remain the top unicorn maker as 38 out of the 100 unicorns are based out of the city. Delhi-NCR comes second in the list as 30 startups from the region managed to make it to the list of 100 unicorns. While Mumbai, Chennai, Pune and Hyderabad collectively produced 32 unicorns. WATCH WION LIVE HERE:

Top 10 loss-making start-ups: These Indian unicorns are bleeding cash

Ever since the Consumer Price Index report was released, the US stock market has continued to take a beating. On Friday, according to a Reuters report, Wall Street stumbled to its two-month low as fears of a global recession loomed amid a slowdown.

Ever since the Consumer Price Index report was released, the US stock market has continued to take a beating. On Friday, according to a Reuters report, Wall Street stumbled to its two-month low as fears of a global recession loomed amid a slowdown. Reportedly, all three major US stock indices fell well below their numbers set in the month of June. The Dow dropped 139. 40 points to close at 30,822 while S&P 500 closed the week by siding 0.72 per cent. Lastly, Nasdaq Composite slide 0.9 per cent to finish at 11,448. "It’s been a tough week. It feels like Halloween came early. We are facing this toxic brew of high inflation, high-interest rates and low growth, which isn’t good for stock or bond markets." said David Carter, managing director of JP Morgan. It is pertinent to note that the fear of global slowdown amongst the stock market investors was expedited after FedEx released a dystopian earning report. The company's revenue fell about $300 million below company forecasts which hastened the warning that a slowdown was impending. WATCH | World Business Watch: FedEx shares fall as global volume plunge × Moreover, to get ahead of the curve, banking major Goldman Sachs is planning to fire hundreds of its employees as early as next week. Reportedly, the layoffs will mark the resumption of its annual practice which was halted the last two years due to the pandemic. It is pertinent to note that on the day the CPI report showed inflation hitting a worse-than-expected mark of '8.3' per cent, US President Joe Biden threw an 'inflation reduction' party at his official residence at the White House. "Exactly four weeks ago, I signed the Inflation Reduction Act into law. So today, we're celebrating. Tune in at 3 PM ET as I deliver remarks and welcome the leaders and advocates who made it happen to the People's House." tweeted President Biden from his official Twitter account. Read more: Biden parties as stock market tumbles, inflation worsens and Fed indicates rate hike Experts believe that after inflation numbers continued to hit a 40-year record high, the US central bank, the Federal Reserve may be hiking interest rates for a record fifth time this year, next week. (With inputs from agencies) WATCH WION LIVE HERE:

As recession fears mount, Wall Street tumbles to a two-month low

Uber's computer network was breached on Thursday, leading the ride-hailing giant to take several internal communications and engineering systems offline as it investigated the hack.

World Business Watch: Uber investigating breach of its computer systems

FedEx tumbled to 11% after the company said its fiscal first-quarter results were hit by global volume softness and it withdrew its financial forecast.

World Business Watch: FedEx shares fall as global volume plunge

Adobe agreed to buy software design startup Figma in a deal valued at about $20 billion to help it expand tools for creative professionals.

World Business Watch: Adobe agrees to buy Figma in $20 billion software deal

In a bid to minimise, CO2 emissions, a few students have built a sustainable car model and showed their prototype on a US promotional tour to universities and companies. The car is called Zero Emission Mobility or ZEM.

World Business Watch: Students build sustainable all-electric car to reduce CO2 emissions

After data revealed that UK retail sales plunged significantly in August as the rise in the cost of living continued to affect consumers, the pound dropped to a fresh 37-year low against the US dollar.&nbsp;

The 1.6 per cent&nbsp;larger-than-anticipated decline in sales volumes raised further worries about the status of the economy.&nbsp;

As a result of consumers making budget cuts in response to rising costs, sales across all retail sectors decreased in August.&nbsp;

Retail data, according to some analysts, indicated that the UK is already in a recession.
<img alt="1" data-align="center" data-entity-type="file" data-entity-uuid="33588aa2-8d5e-4767-921b-936fcfd166a8" src="//cdn.wionews.com/sites/default/files/inline-images/Screen%20Shot%202022-09-16%20at%2018.25.09.png" />
In the wake of the publication of the retail sales numbers, the sterling dropped more than 1 per cent&nbsp;versus the dollar, reaching $1.13, its lowest level since 1985. Because of the weak pound, British tourists will find that their money does not go as far.&nbsp;

This occurs at a time when UK inflation, or the rate at which prices increase, is at a level that is over 40 years high, albeit declining from 10.1 per cent&nbsp;in July to 9.9 per cent.&nbsp;

According to the Bank of England, the UK will experience a recession at the end of this year, and interest rates will likely continue to rise in an effort to stop inflation.&nbsp;

The retail sales numbers for August confirmed Capital Economics' assessment that the UK economy is "already in recession", according to Olivia Cross.

Also Read:<a href="https://www.wionews.com/world/china-plans-to-impose-sanctions-on-ceos-of-us-companies-over-arms-sales-to-taiwan-516760">&nbsp;China plans to impose sanctions on CEOs of US companies over arms sales to Taiwan</a>

When the economy shrinks for two consecutive three-month periods, it is said to be in a recession.&nbsp;

Households have had to make spending cuts as a result of price increases and impending increases in energy costs in October.&nbsp;

To aid consumers with their energy bills, the government did nevertheless introduce the Energy Price Guarantee last week. The assistance will result in a two-year cap on the yearly energy expense for a typical home at £2,500.&nbsp;

Before the government took action, annual energy costs were anticipated to reach £3,549 before going much higher in 2023.

(with inputs from agencies)

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

After data revealed that UK retail sales plunged significantly in August as the rise in the cost of living continued to affect consumers, the pound dropped to a fresh 37-year low against the US dollar.

After data revealed that UK retail sales plunged significantly in August as the rise in the cost of living continued to affect consumers, the pound dropped to a fresh 37-year low against the US dollar. The 1.6 per cent larger-than-anticipated decline in sales volumes raised further worries about the status of the economy. As a result of consumers making budget cuts in response to rising costs, sales across all retail sectors decreased in August. Retail data, according to some analysts, indicated that the UK is already in a recession. In the wake of the publication of the retail sales numbers, the sterling dropped more than 1 per cent versus the dollar, reaching $1.13, its lowest level since 1985. Because of the weak pound, British tourists will find that their money does not go as far. This occurs at a time when UK inflation, or the rate at which prices increase, is at a level that is over 40 years high, albeit declining from 10.1 per cent in July to 9.9 per cent. According to the Bank of England, the UK will experience a recession at the end of this year, and interest rates will likely continue to rise in an effort to stop inflation. The retail sales numbers for August confirmed Capital Economics' assessment that the UK economy is "already in recession", according to Olivia Cross. Also Read: China plans to impose sanctions on CEOs of US companies over arms sales to Taiwan When the economy shrinks for two consecutive three-month periods, it is said to be in a recession. Households have had to make spending cuts as a result of price increases and impending increases in energy costs in October. To aid consumers with their energy bills, the government did nevertheless introduce the Energy Price Guarantee last week. The assistance will result in a two-year cap on the yearly energy expense for a typical home at £2,500. Before the government took action, annual energy costs were anticipated to reach £3,549 before going much higher in 2023. (with inputs from agencies)

Pound hits new 37-year low as consumer spending falls, stokes recession chatter

The equities market fell sharply on Friday during the afternoon trade due to a heavy sell-off in IT, PSU Banks, and Auto stocks following weak Asian markets on concerns of global recession, dealers said.

At 2.10 pm, Sensex was down 1050.03 points or 1.75 per cent at 58,883.98, and Nifty was trading 326.56 points or 1.83 per cent lower at 17,550.85. 
 
Mahindra &amp; Mahindra, Tech Mahindra, Ultratech Cement, TCS, Infosys, Wipro were major losers during the afternoon trade. 
 
Nifty IT and BSE IT index were down 2.91 per cent and 2.69 per cent respectively. Nifty PSU Bank index was down 2.79 per cent and BSE Auto was down 3.25 per cent. 
 
"Indian equity markets are witnessing some selling pressure after a long period of resilience. Global cues continuously remain weak as there is a sharp surge in the dollar index and US bond yields post US inflation numbers. We may continue to outperform, but we can`t remain in isolation for a long time. Global markets are looking nervous ahead of the FOMC meeting because there is talk of a 100 basis rate hike while a 75 basis rate hike was already discounted," said Santosh Meena, Head of Research, Swastika Investmart Ltd. 
 
Asian markets remained weak&nbsp;on Friday due to growing fears of a global recession after the warnings by the World Bank and the International Monetary Fund. 
 
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent. Australian shares were down 0.94 per cent on Friday, while Japan`s Nikkei stock index slipped 1.2 per cent. 
 
The world may edge toward a global recession in 2023 as central banks across the world simultaneously hike interest rates to combat persistent inflation, the World Bank said. 
 
The economies of the US, China, and the eurozone, were slowing and a slight hit to the global economy further would lead to recession. 
 
"Technically, Nifty is facing resistance at the 18,100 level and it has slipped below its 20-DMA of 17,700 which may lead to some more selling pressure where 17,470-17,400 is an immediate demand zone then 17,150 is a sacrosanct support level. Bank Nifty is outperforming but yesterday it ended at a day's low after hitting a fresh all-time high, which is a little disappointing. On the downside, 40,900-40,700 is an immediate demand zone; below this, 40,270 is the next important support level," Meena added.&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

The equities market fell sharply on Friday during the afternoon trade due to a heavy sell-off in IT, PSU Banks, and Auto stocks following weak Asian markets on concerns of global recession, dealers said.

The equities market fell sharply on Friday during the afternoon trade due to a heavy sell-off in IT, PSU Banks, and Auto stocks following weak Asian markets on concerns of global recession, dealers said. At 2.10 pm, Sensex was down 1050.03 points or 1.75 per cent at 58,883.98, and Nifty was trading 326.56 points or 1.83 per cent lower at 17,550.85. Mahindra & Mahindra, Tech Mahindra, Ultratech Cement, TCS, Infosys, Wipro were major losers during the afternoon trade. Nifty IT and BSE IT index were down 2.91 per cent and 2.69 per cent respectively. Nifty PSU Bank index was down 2.79 per cent and BSE Auto was down 3.25 per cent. "Indian equity markets are witnessing some selling pressure after a long period of resilience. Global cues continuously remain weak as there is a sharp surge in the dollar index and US bond yields post US inflation numbers. We may continue to outperform, but we can`t remain in isolation for a long time. Global markets are looking nervous ahead of the FOMC meeting because there is talk of a 100 basis rate hike while a 75 basis rate hike was already discounted," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Asian markets remained weak on Friday due to growing fears of a global recession after the warnings by the World Bank and the International Monetary Fund. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent. Australian shares were down 0.94 per cent on Friday, while Japan`s Nikkei stock index slipped 1.2 per cent. The world may edge toward a global recession in 2023 as central banks across the world simultaneously hike interest rates to combat persistent inflation, the World Bank said. The economies of the US, China, and the eurozone, were slowing and a slight hit to the global economy further would lead to recession. "Technically, Nifty is facing resistance at the 18,100 level and it has slipped below its 20-DMA of 17,700 which may lead to some more selling pressure where 17,470-17,400 is an immediate demand zone then 17,150 is a sacrosanct support level. Bank Nifty is outperforming but yesterday it ended at a day's low after hitting a fresh all-time high, which is a little disappointing. On the downside, 40,900-40,700 is an immediate demand zone; below this, 40,270 is the next important support level," Meena added. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India: Indices trading down; Sensex falls over 1,000 points

Tesla has lost the infamous "most shorted stock" title as Apple's stock rises above Tesla's in the US, a report from short-seller analytics firm S3 Partners revealed on Wednesday. The recent trend shows that investors are betting more money against Apple as compared to Tesla for the first time since April 2020.&nbsp;

Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners commented in a research report, "Tesla Inc has held the top spot in the short interest league tables for 864 days, almost two and a half years since April 2020, but Apple Inc has recently recaptured the crown."&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/us-judge-appoints-special-master-in-donald-trump-document-case-516648">US judge appoints 'special master' in Donald Trump document case</a>&nbsp;

The reports said that short interest in Apple has surged to $18.4 billion, which exceeds Tesla's short interest of $17.4 billion.&nbsp;

After the surge, Apple in becomes the most heavily shorted US company by dollar amount. The title was held by Elon Musk's company for 864 days.&nbsp;

As of Wednesday, around 113 million Apple shares were sold short, which represents 0.7 per cent of Apple's shares publicly available.&nbsp;

On the other hand, around 57 million Tesla shares sold short which means about 2.2 per cent of Musk's float.&nbsp;

WATCH |&nbsp;Tech Talk: Apple's in-app purchase prices jump by 40% year-over-year&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/tech-talk-apples-in-app-purchase-prices-jump-by-40-year-over-year-516563/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Recently, Apple's in-app purchases climbed significantly more than the monthly or yearly purchases. The average cost of in-app purchases soared by 40 per cent.&nbsp;

Citing data from Apptopia, which is an app intelligence company, people are witnessing price increases practically everywhere, with the consumer price index in the United States rising 8.5 per cent year over year.&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Tesla has lost the infamous "most shorted stock" title as Apple's stock rises above Tesla's in the US, a report from short-seller analytics firm S3 Partners revealed on Wednesday.

Tesla has lost the infamous "most shorted stock" title as Apple's stock rises above Tesla's in the US, a report from short-seller analytics firm S3 Partners revealed on Wednesday. The recent trend shows that investors are betting more money against Apple as compared to Tesla for the first time since April 2020. Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners commented in a research report, "Tesla Inc has held the top spot in the short interest league tables for 864 days, almost two and a half years since April 2020, but Apple Inc has recently recaptured the crown." ALSO READ | US judge appoints 'special master' in Donald Trump document case The reports said that short interest in Apple has surged to $18.4 billion, which exceeds Tesla's short interest of $17.4 billion. After the surge, Apple in becomes the most heavily shorted US company by dollar amount. The title was held by Elon Musk's company for 864 days. As of Wednesday, around 113 million Apple shares were sold short, which represents 0.7 per cent of Apple's shares publicly available. On the other hand, around 57 million Tesla shares sold short which means about 2.2 per cent of Musk's float. WATCH | Tech Talk: Apple's in-app purchase prices jump by 40% year-over-year × Recently, Apple's in-app purchases climbed significantly more than the monthly or yearly purchases. The average cost of in-app purchases soared by 40 per cent. Citing data from Apptopia, which is an app intelligence company, people are witnessing price increases practically everywhere, with the consumer price index in the United States rising 8.5 per cent year over year. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

US: Apple unseats Tesla to reclaim the title of market's most-shorted stock after 864 days

The world economies may fall into a global recession next year amid aggressive monetary policy tightening by central banks to tame inflation, the World Bank said.

World Business Watch: World Bank sees rising risk of global recession in 2023 amid rate hikes

US President Joe Biden visited the Detroit auto show where he announced the approval of first $900 million in US funding to build electric vehicles charging stations in 35 states in the country, part of a $1 trillion infrastructure law approved last November.

Joe Biden touts electric vehicles at Detroit auto show

Lower fuel prices caused an unexpected fall in British consumer price inflation in August, offering some relief to households and the Bank of England after the CPI rate hit a 40-year high.

World Business Watch: UK inflation falls unexpectedly as fuel prices decline

The European Union's executive has outlined plans to raise more than $140 billion from energy firms to help shield households and businesses from soaring prices that threaten economic downturn and insolvencies.

World Business Watch: EU seeks $140 billion from energy companies

The Detroit auto show is returning this week after a two-year gap due to the Covid-19 pandemic. It starts today and will go on until September 25. However, lower attendance is expected at this year's auto show.

World Business Watch: Detroit auto show is back after 2-year gap due to Covid-19 pandemic