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

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

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

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

Shock, anger and despair in Bangladesh over the executions 

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

Man marries off wife of 17 years to her lover in Uttar Pradesh

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

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

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

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

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

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

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

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

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

Why websites around the world are suddenly going offline? What you need to know about PHP

Israel election 2026: Three possible scenarios after October 27 polls

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

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

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

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

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

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

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

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

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

Hunger makes alcohol more appealing, study finds

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

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

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

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

Khawaja Asif flags ‘bureaucratic exodus’ from Pak amid Munir’s growing clout, loss of faith in govt

The global inflation swords with Russia's energy supplies in limbo. European Central Bank or the ECB is set to raise its interest rates today. It is to fight inflation and take a major move to a record high.

Price pressures continue to outpace pessimistic forecasts

The lifting of Covid curbs have boosted consumer and business spending. Japan's economy grew more than initially reported in second quarter. It translates into Japan seeing its economy growing for a third quarter in April-June.

Japan: Easing Covid curbs lift Japan spending

German airline Lufthansa and pilots' union VC said on Tuesday they had reached a deal in a wage dispute, averting a second strike that had been planned for later this week.

Lufthansa and pilots agree on wage deal

Mercedes-Benz will fire 3,600 employees in a restructuring of its truck and bus chassis plant in Brazil's Sao Paulo state amid pressures on its production.

Mercedes-Benz to lay off 3,600 workers in Brazil

After a bumper hiring spree in the aftermath of the pandemic, the tech giants might be looking to go back on their decision. Google and Alphabet CEO Sundar Pichai on Tuesday stated that he wants to make his company 20 per cent efficient while hinting at possible job cuts.

After a bumper hiring spree in the aftermath of the pandemic, the tech giants might be looking to go back on their decision. Google and Alphabet CEO Sundar Pichai on Tuesday stated that he wants to make his company 20 per cent efficient while hinting at possible job cuts. “We want to make sure as a company, when you have fewer resources than before, you are prioritizing all the right things to be working on and your employees are really productive that they can actually have impact on the things they’re working on so that’s what we are spending our time on,” said Pichai. The Google boss further added that as a company they were looking to get 20 per cent more productive, “Across everything we do, we can be slower to make decisions. You look at it end-to-end and figure out how to make the company 20 per cent more productive.” Read more: Google to slow down hiring, says Sundar Pichai in a memo to staff Terming uncertainty around macroeconomics, Pichai acknowledged the company had become “slower” after its headcount ballooned. “The more we try to understand the macroeconomic, we feel very uncertain about it. The macroeconomic performance is correlated to ad spend, consumer spend and so on,” added the Google boss. It is pertinent to note that this is not the first time that Pichai has hinted at slashing the workforce. In July, Pichai wrote a memo to his employees where he asserted that the company will be “slowing down the pace of hiring for the rest of the year” Pichai said that the company will have to “be more entrepreneurial” and work with “greater urgency, sharper focus, and more hunger than we’ve shown on sunnier days” He added that the company “isn’t freezing hiring entirely; it’ll still hire engineering, technical and other critical roles”, but the pullback, he added, will mean “pausing development and re-deploying resources to higher priority areas”. "For the balance of 2022 and 2023, we'll focus our hiring on engineering, technical and other critical roles, and make sure the great talent we do hire is aligned with our long-term priorities," Pichai reportedly wrote in the memo. Read more: Google to slow down hiring, says Sundar Pichai in a memo to staff Google slowing down its hiring can also be related to the advertisement revenue that has taken a tumble ever since Apple brought its new data policy, in addition to weaker-than-expected earnings in the second consecutive quarter. As reported by WION, a report released by Appsumer, an advertising analytics firm on Tuesday showed that Apple's competitors viz. Facebook and Google saw a 3 per cent and 1.7 per cent dip in the number of mobile apps advertising respectively. The study stated that more and more advertisers are willing to spend big bucks to advertise on Apple App Store, in addition to Apple News and Stocks. Advertisers allocated almost 15 per cent of their ad budget to Apple while both Google and Facebook saw a decline. Read more: Apple might have broken Google and Facebook's duopoly in the advertising market (With inputs from agencies) WATCH WION LIVE HERE:

Sundar Pichai hints at slashing Google workforce, wants company 20% more efficient

Apple Inc said on Tuesday it will appeal a Brazilian order banning it from selling iPhones without a battery charger, pushing back on claims that the company provides an incomplete product to consumers.

Apple to challenge ban on selling iPhones without chargers in Brazil

Oil prices rose about 3% on Monday, as OPEC+ members agreed to a small production cut of 100,000 barrels per day to bolster prices.

Oil up nearly 3% as OPEC+ agrees to small oil output cut

German auto major Volkswagen has announced its intention to float for an initial public offering of its super sports car brand Porsche. The IPO could be the largest in German history and the biggest in Europe since 1999.

Volkswagen triggers landmark Porsche IPO plan

Despite a resurgence in Covid-19 cases, Japan's household spending grew for a second straight month in July but inflationary pressures from the end slump to a 24-year-low.

Japan economy: Inflation risks loom

According to new regulations introduced in response to fears that bitcoin and other cryptoassets are being used to get over limitations put in place in response to Russia's invasion of Ukraine, cryptocurrency exchanges must notify suspected sanctions breaches to the UK authorities.&nbsp;

On August 30, official guidelines were revised to specifically include "cryptoassets" among the things that must be blocked if sanctions are placed on a person or business. Cryptoassets could include non-fungible tokens in addition to digital currencies like bitcoin, ether, and tether as well as other hypothetically valuable digital assets.

According to the regulations established by the Treasury's Office of Financial Penalties Implementation, cryptocurrency exchanges will be breaking the law if they fail to report customers who are subject to sanctions. According to the regulations, cryptocurrency exchanges have the same responsibility as professionals like estate agents, accountants, lawyers, and jewellers to take appropriate action if they suspect one of their customers is subject to penalties or if they suspect a breach of sanctions.&nbsp;

One of the UK's most notable responses to the invasion of Ukraine has been the imposition of financial penalties on individuals and businesses with ties to the Vladimir Putin administration.

Also Read:&nbsp;<a href="https://www.wionews.com/science/nasas-webb-telescope-captures-cosmic-tarantula-161000-light-years-away-513553">NASA’s Webb telescope captures cosmic tarantula 161,000 light-years away</a>

The stepdaughter of the foreign minister, Sergei Lavrov, Polina Kovaleva, and the daughter of Putin's spokesman, Dmitry Peskov, Elizaveta Peskova, had their accounts suspended, according to Binance, the largest cryptocurrency exchange in the world by trading volume. The exchange has allayed concerns that cryptocurrency may be used to circumvent sanctions.&nbsp;

The UK already has regulations against using cryptocurrency to circumvent sanctions and transfer money abroad. These laws cover all "economic resources." The modification highlights the authorities' worry about the relatively new assets, which may be helpful for avoiding sanctions because users do not rely on regulated firms to conduct transactions.

(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>

According to new regulations introduced in response to fears that bitcoin and other cryptoassets are being used to get over limitations put in place in response to Russia's invasion of Ukraine, cryptocurrency exchanges must notify suspected sanctions breaches to the UK authorities.

According to new regulations introduced in response to fears that bitcoin and other cryptoassets are being used to get over limitations put in place in response to Russia's invasion of Ukraine, cryptocurrency exchanges must notify suspected sanctions breaches to the UK authorities. On August 30, official guidelines were revised to specifically include "cryptoassets" among the things that must be blocked if sanctions are placed on a person or business. Cryptoassets could include non-fungible tokens in addition to digital currencies like bitcoin, ether, and tether as well as other hypothetically valuable digital assets. According to the regulations established by the Treasury's Office of Financial Penalties Implementation, cryptocurrency exchanges will be breaking the law if they fail to report customers who are subject to sanctions. According to the regulations, cryptocurrency exchanges have the same responsibility as professionals like estate agents, accountants, lawyers, and jewellers to take appropriate action if they suspect one of their customers is subject to penalties or if they suspect a breach of sanctions. One of the UK's most notable responses to the invasion of Ukraine has been the imposition of financial penalties on individuals and businesses with ties to the Vladimir Putin administration. Also Read: NASA’s Webb telescope captures cosmic tarantula 161,000 light-years away The stepdaughter of the foreign minister, Sergei Lavrov, Polina Kovaleva, and the daughter of Putin's spokesman, Dmitry Peskov, Elizaveta Peskova, had their accounts suspended, according to Binance, the largest cryptocurrency exchange in the world by trading volume. The exchange has allayed concerns that cryptocurrency may be used to circumvent sanctions. The UK already has regulations against using cryptocurrency to circumvent sanctions and transfer money abroad. These laws cover all "economic resources." The modification highlights the authorities' worry about the relatively new assets, which may be helpful for avoiding sanctions because users do not rely on regulated firms to conduct transactions. (with inputs from agencies)

Crypto for sanction evasion: Suspected breaches must be reported by Crypto exchanges in UK

Nearly a year after announcing its new ad policy, Apple may be bridging the gap between itself and Google and Facebook in the digital ads market, according to a recent study published by Appsumer, an advertising analytics firm.

Nearly a year after announcing its new ad policy, Apple may be bridging the gap between itself and Google and Facebook in the digital ads market, according to a recent study published by Appsumer, an advertising analytics firm. The study, based on online ad budgets of over 100 mobile app companies stated that advertisements on Apple's App store grew by 3.7 per cent to 94.8 per cent, compared to the 2021 Q2 data. Meanwhile, Apple's competitors viz. Facebook and Google saw a 3 per cent and 1.7 per cent dip in the number of mobile apps advertising respectively. The study makes it clear that more and more advertisers are willing to spend big bucks to advertise on App Store, in addition to Apple News and Stocks. Advertisers allocated almost 15 per cent of their ad budget to Apple while both Google and Facebook saw a decline. Read more: Ahead of iPhone 14 launch, Brazil suspends sale of iPhones without battery charger, imposes fine "Apple has joined the duopoly of Facebook and Google at the top table of advertiser adoption,” said the study. As reported by WION, Apple last year rolled out its new privacy policy called 'App Tracking Transparency' that required the apps on its platform to ask for users' permission to track their activity and share it with third parties. Read more: Only 10,000 iOS apps follow Apple's new user tracking guidelines so far: Report Succinctly put, Apple disrupted the entire 'personalised advertising' market as business houses had to reconsider their strategies. The change in policy meant that companies like Facebook found it more difficult to track users on the vast realms of the internet. However, Apple remained unscathed as its advertising business grew 238 per cent to $3.7 billion in 2021. Moreover, buoyant by its advertising revenue, Apple is planning to add more advertisements to its first-party apps that come pre-installed on iPhone. According to tech reports, Apple has already internally tested the ads on its Maps, Books, and Podcasts. If the Cupertino-based company rolls out the ad feature on these apps, it could very well take its advertising business revenue into double digits. Read more: Apple's next big money-making idea: More ads in iPhones (With inputs from agencies) WATCH WION LIVE HERE:

Apple might have broken Google and Facebook's duopoly in the advertising market

After Russia's Gazprom shut North Stream One gas pipeline, deepening Europe's energy crisis, Finland and Sweden have announced plans to offer billions of dollars in liquidity guarantees to power companies in their countries.

Europe Energy Crisis | Sweden, Finland step in to avert Lehman-like situation

Oil prices jumped more than $1 a barrel on Monday, extending gains as investors eyed possible moves by OPEC+ producers to tweak production. Brent Crude Futures rose 1.5% to $94.45 a barrel.

Oil prices climb more than $1 per barrel ahead of OPEC+ meeting today

Yet another Indian-American has now become the CEO of a top global firm coffee chain. Starbucks has appointed Laxman Narasimhan, the Chief Executive Officer of Ben Carson group as its next CEO. With this, Starbucks has chosen a consumer industry veteran to start a new path.

Starbucks names Laxman Narasimhan as the next CEO

US automobile major Ford is recalling a 198,000 SUVs in the country after 25 fire incidents were reported in these vehicles. There would be an additional recall for 1,175 Mustang Mach-e electric vehicles because of a manufacturing defect.

Fire risk leads to massive Ford SUV recall, around 0.5 million vehicles recalled in 1 week

A subsidiary of a well-known brand Phillips has agreed to pay over $24 million to resolve the alleged false claims over respiratory related medical equipment in the United States. A Phillips spokesperson has said that its subsidiary agreed to settle the claim to avoid required expense of litigation.

US: Phillips to pay to resolve claims over respiratory medical equipment

There could be some trouble for US-based software giant Microsoft as Britain's anti-trust regulator has started an additional probe on Microsoft Activision $69 billion merger.

Microsoft-Activision merger: 'Deal must be investigated in depth', UK regulator

The Hong Kong-Shanghai Bank Corporation, commonly known as HSBC gets a big relief in the United States where the federal reserves have finally closed enforcement actions against the bank.

HSBC gets relief from a decade long case, accused of having a preferred system for drug cartels

In signs of growing tensions over global semiconductor war, chip designer Nvidia said that US officials ordered it to seize exporting two of its top computing chips for Artificial Intelligence work to China.

US orders Nvidia to stop chip sales in China

Driven by soaring fuel prices caused by Russia's war in Ukraine, the yearly inflation rate in the Eurozone is up from 8.9 percent in July and is at its highest since records began.

Eurozone inflation hits a peak of of 9.1% in August

India's economy grew at its fastest pace of 13.5 percent year-on-year in the April to June quarter. A rebound in private consumption that's one of the key drivers of growth.

India's Q1 GDP grows at 13.5%, fastest pace in a year

Snap Inc said on Wednesday it will lay off 20% of all staff and shut down projects, including mobile games and novelties like a flying drone camera, as high inflation and a deteriorating economy ravage the advertising industry.

Snapchat to cut 20% of staff citing high inflation, deteriorating economy

Chip designer Nvidia Corp said on Wednesday that US&nbsp;officials told it to stop exporting two top computing chips for artificial intelligence work to China, a move that could cripple Chinese firms' ability to carry out advanced work like image recognition and hamper Nvidia's business in the country.

The announcement signals a major escalation of the US&nbsp;crackdown on China's technological capabilities as tensions bubble over the fate of Taiwan, where chips for Nvidia and almost every other major chip firm are manufactured.

Nvidia shares fell 6.6 per cent&nbsp;hours later. The company said the ban, which affects its A100 and H100 chips designed to speed up machine learning tasks, could interfere with completion of developing the H100, the flagship chip it announced this year.

Shares of rival Advanced Micro Devices Inc fell 3.7 per cent. An AMD spokesman told Reuters it had received new license requirements that will stop its MI250 artificial intelligence chips from being exported to China but it believes its MI100 chips will not be affected. AMD said it does not believe the new rules will have a material impact on its business.

Nvidia said US&nbsp;officials told it the new rule "will address the risk that products may be used in, or diverted to, a 'military end use' or 'military end user' in China".

The US&nbsp;Department of Commerce would not say what new criteria it has laid out for AI chips that can no longer be shipped to China but said it is reviewing its China-related policies and practices to "keep advanced technologies out of the wrong hands".

"While we are not in a position to outline specific policy changes at this time, we are taking a comprehensive approach to implement additional actions necessary related to technologies, end-uses, and end-users to protect US&nbsp;national security and foreign policy interests," a spokesperson told Reuters.

The Chinese foreign ministry responded on Thursday by accusing the United States of attempting to impose a "tech blockade" on China, while its commerce ministry said such actions would undermine the stability of global supply chains.

"The US&nbsp;continues to abuse export control measures to restrict exports of semiconductor-related items to China, which China firmly opposes," commerce ministry spokesperson Shu Jieting said at a news conference.

This is not the first time the US&nbsp;has moved to choke off Chinese firms' supply of chips. In 2020, former president Donald Trump's administration banned suppliers from selling chips made using US&nbsp;technology to tech giant Huawei without a special license.

Without American chips from companies like Nvidia and AMD, Chinese organizations will be unable to cost-effectively carry out the kind of advanced computing used for image and speech recognition, among many other tasks.

Image recognition and natural language processing are common in consumer applications like smartphones that can answer queries and tag photos. They also have military uses such as scouring satellite imagery for weapons or bases and filtering digital communications for intelligence-gathering purposes.

Nvidia said it had booked $400 million in sales of the affected chips this quarter to China that could be lost if firms decide not to buy alternative Nvidia products. It said it plans to apply for exemptions to the rule.

Stacy Rasgon, a financial analyst with Bernstein, said the disclosure signaled that about 10% of Nvidia's data center sales were coming from China and that the hit to sales was likely "manageable" for Nvidia.

“It’s not (investment) thesis changing, but it’s not a good look,” Rasgon said. “What happens on both sides now is the question.”

Nvidia last week forecast a sharp drop in revenue for the current quarter on the back of a weaker gaming industry. It said it expected third-quarter sales to fall 17 per cent&nbsp;from the same period last year.

&nbsp;

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Chip designer Nvidia Corp said on Wednesday that US officials told it to stop exporting two top computing chips for artificial intelligence work to China, a move that could cripple Chinese firms' ability to carry out advanced work like image recognition and hamper Nvidia's business in the country.

Chip designer Nvidia Corp said on Wednesday that US officials told it to stop exporting two top computing chips for artificial intelligence work to China, a move that could cripple Chinese firms' ability to carry out advanced work like image recognition and hamper Nvidia's business in the country. The announcement signals a major escalation of the US crackdown on China's technological capabilities as tensions bubble over the fate of Taiwan, where chips for Nvidia and almost every other major chip firm are manufactured. Nvidia shares fell 6.6 per cent hours later. The company said the ban, which affects its A100 and H100 chips designed to speed up machine learning tasks, could interfere with completion of developing the H100, the flagship chip it announced this year. Shares of rival Advanced Micro Devices Inc fell 3.7 per cent. An AMD spokesman told Reuters it had received new license requirements that will stop its MI250 artificial intelligence chips from being exported to China but it believes its MI100 chips will not be affected. AMD said it does not believe the new rules will have a material impact on its business. Nvidia said US officials told it the new rule "will address the risk that products may be used in, or diverted to, a 'military end use' or 'military end user' in China". The US Department of Commerce would not say what new criteria it has laid out for AI chips that can no longer be shipped to China but said it is reviewing its China-related policies and practices to "keep advanced technologies out of the wrong hands". "While we are not in a position to outline specific policy changes at this time, we are taking a comprehensive approach to implement additional actions necessary related to technologies, end-uses, and end-users to protect US national security and foreign policy interests," a spokesperson told Reuters. The Chinese foreign ministry responded on Thursday by accusing the United States of attempting to impose a "tech blockade" on China, while its commerce ministry said such actions would undermine the stability of global supply chains. "The US continues to abuse export control measures to restrict exports of semiconductor-related items to China, which China firmly opposes," commerce ministry spokesperson Shu Jieting said at a news conference. This is not the first time the US has moved to choke off Chinese firms' supply of chips. In 2020, former president Donald Trump's administration banned suppliers from selling chips made using US technology to tech giant Huawei without a special license. Without American chips from companies like Nvidia and AMD, Chinese organizations will be unable to cost-effectively carry out the kind of advanced computing used for image and speech recognition, among many other tasks. Image recognition and natural language processing are common in consumer applications like smartphones that can answer queries and tag photos. They also have military uses such as scouring satellite imagery for weapons or bases and filtering digital communications for intelligence-gathering purposes. Nvidia said it had booked $400 million in sales of the affected chips this quarter to China that could be lost if firms decide not to buy alternative Nvidia products. It said it plans to apply for exemptions to the rule. Stacy Rasgon, a financial analyst with Bernstein, said the disclosure signaled that about 10% of Nvidia's data center sales were coming from China and that the hit to sales was likely "manageable" for Nvidia. “It’s not (investment) thesis changing, but it’s not a good look,” Rasgon said. “What happens on both sides now is the question.” Nvidia last week forecast a sharp drop in revenue for the current quarter on the back of a weaker gaming industry. It said it expected third-quarter sales to fall 17 per cent from the same period last year.

US officials order Nvidia to halt sales of top AI chips to China

Reckitt Benckiser Chief Executive Laxman Narasimhan will step down at the end of September after three years in the role, the company said on Thursday, and will be replaced by insider and former BAT boss Nicandro Durante.

Shares in the maker of Durex condoms and Dettol cleaning products tumbled more than 4 per cent&nbsp;on the news, with JP Morgan analysts citing Narasimhan's sudden departure just when investor confidence in the group's turnaround is improving.

"It was a surprise to find out Reckitt’s CEO is stepping down, having only been in the role for three years and just starting to receive some credibility," said Tineke Frikee, fund manager at Reckitt shareholder Waverton Investment Management.

"It is surprising that it is immediate, rather than serving his notice period ... a handover period between Laxman and a new permanent CEO replacement would have been preferred."

Narasimhan, 55, joined the company in September 2019 from PepsiCo and was the first external candidate to take the helm at Reckitt since it was formed in 1999.

He led the household goods maker through the pandemic, which boosted sales of its health and hygiene products, and as the company navigated a baby formula crisis in the United States.

He will be replaced by senior independent director Durante while the board "evaluates and selects the future leadership", Reckitt said in a statement.

Double-Whammy

"It's kind of a double whammy of uncertainty about what's ahead, given that (Narasimhan) was three years at the company and at a time when market conditions are tougher, especially for companies like Reckitt Benckiser, which are highly reliant on consumer spending," said Hargreaves Lansdown analyst Susannah Streeter.

Brazilian-Italian Durante previously led tobacco giant British American Tobacco (BAT) for eight years until 2019. He joined Reckitt's board in 2013.

The 66-year old will receive a salary of 1.1 million pounds ($1.3 million) as Reckitt CEO, the company said, adding that he is being appointed on a rolling contract with six months' notice on either side.

Reckitt, which also makes Nurofen tablets and Lysol cleaning products, will continue to implement its current strategy under Durante, the company added.

Narasimhan decided to leave for personal reasons and to relocate to the United States, having been approached with a new opportunity there, Reckitt said without elaborating.

He did not immediately respond to a request for comment via his LinkedIn account.

Chairman Chris Sinclair and the nomination committee have started the process to identify the "best&nbsp;long-term candidate to take Reckitt on its next phase of growth", the company said.

The British consumer goods group in July raised its annual revenue forecast after steep price increases helped the company to beat its second-quarter sales expectations.

&nbsp;

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Reckitt Benckiser Chief Executive Laxman Narasimhan will step down at the end of September after three years in the role, the company said on Thursday, and will be replaced by insider and former BAT boss Nicandro Durante.

Reckitt Benckiser Chief Executive Laxman Narasimhan will step down at the end of September after three years in the role, the company said on Thursday, and will be replaced by insider and former BAT boss Nicandro Durante. Shares in the maker of Durex condoms and Dettol cleaning products tumbled more than 4 per cent on the news, with JP Morgan analysts citing Narasimhan's sudden departure just when investor confidence in the group's turnaround is improving. "It was a surprise to find out Reckitt’s CEO is stepping down, having only been in the role for three years and just starting to receive some credibility," said Tineke Frikee, fund manager at Reckitt shareholder Waverton Investment Management. "It is surprising that it is immediate, rather than serving his notice period ... a handover period between Laxman and a new permanent CEO replacement would have been preferred." Narasimhan, 55, joined the company in September 2019 from PepsiCo and was the first external candidate to take the helm at Reckitt since it was formed in 1999. He led the household goods maker through the pandemic, which boosted sales of its health and hygiene products, and as the company navigated a baby formula crisis in the United States. He will be replaced by senior independent director Durante while the board "evaluates and selects the future leadership", Reckitt said in a statement. Double-Whammy "It's kind of a double whammy of uncertainty about what's ahead, given that (Narasimhan) was three years at the company and at a time when market conditions are tougher, especially for companies like Reckitt Benckiser, which are highly reliant on consumer spending," said Hargreaves Lansdown analyst Susannah Streeter. Brazilian-Italian Durante previously led tobacco giant British American Tobacco (BAT) for eight years until 2019. He joined Reckitt's board in 2013. The 66-year old will receive a salary of 1.1 million pounds ($1.3 million) as Reckitt CEO, the company said, adding that he is being appointed on a rolling contract with six months' notice on either side. Reckitt, which also makes Nurofen tablets and Lysol cleaning products, will continue to implement its current strategy under Durante, the company added. Narasimhan decided to leave for personal reasons and to relocate to the United States, having been approached with a new opportunity there, Reckitt said without elaborating. He did not immediately respond to a request for comment via his LinkedIn account. Chairman Chris Sinclair and the nomination committee have started the process to identify the "best long-term candidate to take Reckitt on its next phase of growth", the company said. The British consumer goods group in July raised its annual revenue forecast after steep price increases helped the company to beat its second-quarter sales expectations.

Dettol maker Reckitt Benckiser announces 'surprise' departure of CEO Narasimhan

Amazon and Google criticized Microsoft's cloud computing changes on Tuesday, saying they limit competition and discourage customers from switching to rival cloud service providers.

Amazon, Google criticizes Microsoft's cloud computing changes

Goldman Sachs, one of the leading US financial service companies has some grim analysis for the United Kingdom. The financial firm says inflation in the country could exceed to as much as 20 percent next year if oil prices fail to cool down.

UK Inflation could top 20% next year: Goldman Sachs