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India's response to the crude-oil shock has been quick. It seems to be visibly changing its oil-supply chain. The most visible change is the absence of the US from the top suppliers league in Q2CY22.

How India's oil supply is changing? India's oil supply from Russia surge

Canada has decided to ban Huawei, and ZTE 5G equipment as it joins the five eyes intelligence-sharing network. Canada says the gear ban is to protect national security.

Canada to ban Huawei, ZTE 5G equipment as it joins five eyes intelligence-sharing network

Suzuki Motor's Indian arm is planning to expand its operations in India. Suzuki's new plant will create 13000 jobs for the Indian market.

Suzuki Motor's Indian arm to expand: New plant to create 13000 jobs for the Indian market

<p>The Huawei Technologies has hit headlines again. But this time, it is not good news for the Chinese company as it is going to be banned officially by government of Canada from its next-generation mobile networks, media reports said. The ZTE Corp 5G gear is also going to face the ban, said a Reuters report, citing a source.&nbsp;The decision of the Prime Minister Justin Trudeau's government was confirmed on Thursday by a spokesman for Canadian Public Safety Minister Marco Mendicino. &nbsp;</p>

<p>A formal announcement will be made by the government on telecommunications security at 4:15 pm ET (2015 GMT), the government said. &nbsp;</p>

<p>For years, the US has been prodding Canadian government to deny Huawei any kind of role in building the 5G infrastructure of the country. It has been saying that the company may allow Beijing to spy on Canadians easily. &nbsp;</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

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<p>Canada will now join the rest of the Five Eyes intelligence-sharing network in banning the gear. The network includes the United States, Canada, Australia, Britain and New Zealand. &nbsp;</p>

<p>The decision, which was expected, seems to have been delayed due to diplomatic tensions with China. &nbsp;</p>

<p>Huawei, which is one of the biggest global suppliers of network gear, has been a concern for US security and law enforcement. &nbsp;&nbsp;</p>

<p><em>(With inputs from agencies)&nbsp;</em></p>

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The Huawei Technologies has hit headlines again. But this time, it is not good news for the Chinese company as it is going to be banned officially by government of Canada from its next-generation mobile networks, media reports said.

The Huawei Technologies has hit headlines again. But this time, it is not good news for the Chinese company as it is going to be banned officially by government of Canada from its next-generation mobile networks, media reports said. The ZTE Corp 5G gear is also going to face the ban, said a Reuters report, citing a source. The decision of the Prime Minister Justin Trudeau's government was confirmed on Thursday by a spokesman for Canadian Public Safety Minister Marco Mendicino. A formal announcement will be made by the government on telecommunications security at 4:15 pm ET (2015 GMT), the government said. For years, the US has been prodding Canadian government to deny Huawei any kind of role in building the 5G infrastructure of the country. It has been saying that the company may allow Beijing to spy on Canadians easily. WATCH WION LIVE HERE Canada will now join the rest of the Five Eyes intelligence-sharing network in banning the gear. The network includes the United States, Canada, Australia, Britain and New Zealand. The decision, which was expected, seems to have been delayed due to diplomatic tensions with China. Huawei, which is one of the biggest global suppliers of network gear, has been a concern for US security and law enforcement. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

To fuel confrontation again? Canada to axe 5G gear of Huawei Technologies, ZTE Corp, say reports

Asian shares are trading in red as global growth fears drag markets down. Indian markets are trading with losses. Blue chips in China fall by 1%.

Asian shares tumble: Global growth fears drag markets down

A Pablo Picasso painting made its auction debut at Sotheby's in New York. People from around the world bid for the painting.

Pablo Picasso's painting auctioned after making auction debut at Sotheby's in New York

Pablo Picasso's painting auctioned after making auction debut at Sotheby's

The number of new cars sold in Europe has declined for the 10th month in a row as supply chain issues continue to take a heavy toll on car manufacturing.

EU car sales are on a tight leash as sales drop for the 10th month in a row

The US auto safety agency has opened an investigation into the fatal Tesla vehicle crash that killed three people.

US auto safety agency opens probe into fatal Tesla crash that killed three

Russia may legalise crypto 'sooner or later' as the industry and trade minister talks about the possibility. At present, Russia holds an annual transaction of $5 billion worth.

Russia to legalise crypto 'sooner or later' as industry and trade minister talks about the possibility

Google's Russia unit is expected to file for bankruptcy as the bank account of Google's Russian subsidiary has been seized amid the Ukraine crisis.

Google's Russia unit to file for bankruptcy as bank account of Google's Russian subsidiary seized

<p>Tesla CEO Elon Musk’s problems are far from over. After his deal to takeover Twitter seems to have gone ‘on hold’, S&amp;P Dow Jones Indices has omitted the electric carmaker, Tesla Inc, from its S&amp;P 500 ESG Index, media reports said. The action seems to have been taken over several issues, such as crashes linked to autopilot vehicles, racial discrimination claims, etc.&nbsp;As the S&amp;P 500 ESG Index is widely-followed, the move has&nbsp;prompted harsh replies in the form of tweets from billionaire Elon Musk on Wednesday. &nbsp;</p>

<p><strong>Also Read:&nbsp;<a href="https://www.wionews.com/world/elon-musk-did-not-ask-anything-about-business-while-signing-says-twitter-over-on-hold-deal-479956" hreflang="en">Elon Musk did not ask anything about business while signing, says Twitter over ‘on hold’ deal</a></strong></p>

<p>In a tweet, Tesla CEO Elon Musk said, "Exxon is rated top ten best in world for environment, social &amp; governance (ESG) by S&amp;P 500, while Tesla didn’t make the list! ESG is a scam. It has been weaponised by phony social justice warriors." &nbsp;</p>

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<p dir="ltr" lang="en">Exxon is rated top ten best in world for environment, social &amp; governance (ESG) by S&amp;P 500, while Tesla didn’t make the list!<br />
<br />
ESG is a scam. It has been weaponized by phony social justice warriors.</p>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1526958110023245829?ref_src=twsrc%5Etfw">May 18, 2022</a></blockquote>
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<p>While hailing the move, Margaret Dorn, who is head of Environmental, Social, and Governance (ESG) Indices for North America at S&amp;P Dow Jones Indices (S&amp;P DJI), said in an interview with a media outlet that the changes were made as Tesla has also not published details relating to its low carbon strategy or business conduct codes.</p>

<p>"You can't just take a company's mission statement at face value, you have to look at their practices across all the key dimensions," Dorn said. &nbsp;</p>

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<p><em>(With inputs from agencies)&nbsp;</em></p>

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Tesla CEO Elon Musk’s problems are far from over. After his deal to takeover Twitter seems to have gone ‘on hold’, S&P Dow Jones Indices has omitted the electric carmaker, Tesla Inc, from its S&P 500 ESG Index, media reports said.

Tesla CEO Elon Musk’s problems are far from over. After his deal to takeover Twitter seems to have gone ‘on hold’, S&P Dow Jones Indices has omitted the electric carmaker, Tesla Inc, from its S&P 500 ESG Index, media reports said. The action seems to have been taken over several issues, such as crashes linked to autopilot vehicles, racial discrimination claims, etc. As the S&P 500 ESG Index is widely-followed, the move has prompted harsh replies in the form of tweets from billionaire Elon Musk on Wednesday. Also Read: Elon Musk did not ask anything about business while signing, says Twitter over ‘on hold’ deal In a tweet, Tesla CEO Elon Musk said, "Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn’t make the list! ESG is a scam. It has been weaponised by phony social justice warriors." Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn’t make the list! ESG is a scam. It has been weaponized by phony social justice warriors. — Elon Musk (@elonmusk) May 18, 2022 × Watch: Will Elon Musk walk away from the Twitter deal? × While hailing the move, Margaret Dorn, who is head of Environmental, Social, and Governance (ESG) Indices for North America at S&P Dow Jones Indices (S&P DJI), said in an interview with a media outlet that the changes were made as Tesla has also not published details relating to its low carbon strategy or business conduct codes. "You can't just take a company's mission statement at face value, you have to look at their practices across all the key dimensions," Dorn said. WATCH WION LIVE HERE (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

Troubles beginning to grow? S&P 500 ESG Index ditches Tesla, invokes CEO Elon Musk’s harsh reaction

There is a new twist in the Twitter takeover saga, Elon Musk is casting more uncertainty over the deal, he is now demanding proof from Twitter. Musk wants the company to prove that less than five percent of Twitter's users are bots otherwise he could pull the plug on the deal.

Will Elon Musk walk away from the Twitter deal?

The United Kingdom's unemployment rate has fallen to 3.7 in the first three months of this year which is the lowest level since 1974. An estimated 1.2 million people were out of work between January and March and the soaring inflation has led to the biggest annual fall in real earnings for most workers.

UK unemployment hits 48-year low, inflation squeezes real earnings

In India when it comes to price rise, the wholesale price index (WPI) in India has inched up to new heights in April. According to new data, WPI inflation has risen to 15.8 percent, an increase of 0.53 from March.

WPI inflation rise continues in India, marks double-digit for 13th straight month

Oil prices rose more than one dollar a barrel in early trade today on expectations that easing COVID-19 restrictions in China will boost demand

Oil prices climb on expectations of China demand recovery

COVID-19 curbs in Japan hit the service sector, and the Ukraine war and surging commodity prices have created new headaches for consumers. Japan's economy has fallen for the first time in two quarters in first three months of the year

Japan's Q1 GDP shrinks as Ukraine, cost of living cloud outlook

As world's largest economy, US tries to ease a nationwide shortage that has left parents scrambling to feed their babies. The US will now allow baby formula imports from foreign mine makers that do not usually sell their products here.

US to allow baby formula imports, foreign makers to meet a list of safety standards

Japan's wholesale prices rose 10% in April compared to the same month a year ago. According to data released, Japan witnessed new high as Ukraine crisis and a weak Yen drove up the cost of energy and raw commodities.

Japan wholesale price hit records 10% as energy cost soar

After witnessing slow down led by COVID-19 lockdowns, luxury car players are now seeing a strong revival in demand, a luxury even if expensive it has many takers. Lexus which is a Japanese automaker Toyota's luxury car brand has been upping its ante in the Indian market.

Luxury car market: Lexus upping its ante in Indian market

New Zealand government has announced its emission reduction plan in the parliament yesterday it has increased electric vehicle sales, it is one of the key priorities there now and as the country is planning to reduce its carbon emission and reliance on fuel fossils they are going to do that now.

New Zealand: Increasing sales of electric vehicles tops agenda

Goldman Sachs Group is its employees flexible vacation time, allowing them to take time off when needed, rather than adhere to a fixed number of days a year.

Goldman Sachs Group: Unlimited vacations for top talent

<p>Indian conglomerate&nbsp;Adani&nbsp;Group plans to buy Holcim AG's cement businesses in India for $10.5 billion, its largest-ever acquisition, to become the country's No. 2 cement manufacturer.</p>

<p>Adani&nbsp;Group, owned by billionaire Gautam&nbsp;Adani, currently has no cement-making operations but said the firms were a good fit given its ports and logistics, energy and real estate businesses.</p>

<p>Under the deal,&nbsp;Adani&nbsp;Group will pay $6.4 billion in cash to acquire Switzerland-based Holcim's 63.1 per cent&nbsp;stake in Ambuja Cements Ltd and 54.5 per cent&nbsp;holding in ACC Ltd, Holcim said in a statement announcing the deal late on Sunday. The rest of the companies' shares will be bought via an open offer,&nbsp;Adani&nbsp;said in a separate statement.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/india-news/talks-of-all-cash-deal-between-adani-and-zee-media-utterly-false-and-baseless-452387">Talks of all-cash deal between Adani and Zee Media utterly false and baseless</a></strong></p>

<p>"(We) will be able to build a uniquely integrated and differentiated business model and set ourselves up for significant capacity expansion,"&nbsp;Adani&nbsp;said.</p>

<p>The deal, which was clinched after a fierce bidding war with the JSW Group and industry leader Ultratech Cement Ltd, is the second largest deal in India this year.</p>

<p>Shares in Ambuja jumped as much as 5.2 per cent&nbsp;to 377.70 rupees while ACC rose 8.3 per cent&nbsp;to a high of 2,287.70 rupees on Monday, but traded below the prices offered by&nbsp;Adani.</p>

<p>Ambuja's shares closed 2.5 per cent&nbsp;&nbsp;higher at 368 rupees compared with the offer price of 385 rupees. ACC's shares ended Monday 3.9 per cent&nbsp;&nbsp;higher at 2,196.20 rupees versus the offer price of 2,300 rupees.</p>

<p><strong>Watch |&nbsp;Dollar holds gains as investors seek safety, crypto markets find stability</strong></p>

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<p>Gautam&nbsp;Adani, Asia's richest man, plans to fund the deal using an offshore special purpose vehicle owned by the&nbsp;Adani&nbsp;family, he told the Economic Times.</p>

<p>"The acquisition is fully funded by way of approved commitments from our relationship banks - Barclays, Deutsche Bank and Standard Chartered Bank - and equity infusion from the&nbsp;Adani&nbsp;family," he was quoted as saying.</p>

<p>The divestment by Holcim marks the Swiss company's latest effort to reduce exposure to carbon-intensive cement production and boost its environmental, social and corporate governance (ESG) credentials.</p>

<p>Holcim has also been selling units outside North America and Europe in a bid to sharpen its focus on key markets and diversify into building product areas like roofing. The company sold its Brazilian operation for $1 billion last year.</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/business-economy/fake-news-tweet-on-zee-media-adani-group-deal-is-false-and-baseless-444054">Fake news: Tweet on Zee Media-Adani Group deal is false and baseless</a></strong></p>

<p>Ambuja and ACC combined have the capacity to produce at least 70 million tonnes of cement annually, while UltraTech Cement boasts capacity of 120 million tonnes. Together, Ambuja and ACC own 31 cement making facilities and employ over 10,700 people.</p>

<p>The transaction is expected to close in the second half of 2022, Holcim said.</p>

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Indian conglomerate Adani Group plans to buy Holcim AG's cement businesses in India for $10.5 billion, its largest-ever acquisition, to become the country's No. 2 cement manufacturer.

Indian conglomerate Adani Group plans to buy Holcim AG's cement businesses in India for $10.5 billion, its largest-ever acquisition, to become the country's No. 2 cement manufacturer. Adani Group, owned by billionaire Gautam Adani, currently has no cement-making operations but said the firms were a good fit given its ports and logistics, energy and real estate businesses. Under the deal, Adani Group will pay $6.4 billion in cash to acquire Switzerland-based Holcim's 63.1 per cent stake in Ambuja Cements Ltd and 54.5 per cent holding in ACC Ltd, Holcim said in a statement announcing the deal late on Sunday. The rest of the companies' shares will be bought via an open offer, Adani said in a separate statement. Also read | Talks of all-cash deal between Adani and Zee Media utterly false and baseless "(We) will be able to build a uniquely integrated and differentiated business model and set ourselves up for significant capacity expansion," Adani said. The deal, which was clinched after a fierce bidding war with the JSW Group and industry leader Ultratech Cement Ltd, is the second largest deal in India this year. Shares in Ambuja jumped as much as 5.2 per cent to 377.70 rupees while ACC rose 8.3 per cent to a high of 2,287.70 rupees on Monday, but traded below the prices offered by Adani. Ambuja's shares closed 2.5 per cent higher at 368 rupees compared with the offer price of 385 rupees. ACC's shares ended Monday 3.9 per cent higher at 2,196.20 rupees versus the offer price of 2,300 rupees. Watch | Dollar holds gains as investors seek safety, crypto markets find stability Gautam Adani, Asia's richest man, plans to fund the deal using an offshore special purpose vehicle owned by the Adani family, he told the Economic Times. "The acquisition is fully funded by way of approved commitments from our relationship banks - Barclays, Deutsche Bank and Standard Chartered Bank - and equity infusion from the Adani family," he was quoted as saying. The divestment by Holcim marks the Swiss company's latest effort to reduce exposure to carbon-intensive cement production and boost its environmental, social and corporate governance (ESG) credentials. Holcim has also been selling units outside North America and Europe in a bid to sharpen its focus on key markets and diversify into building product areas like roofing. The company sold its Brazilian operation for $1 billion last year. Also read | Fake news: Tweet on Zee Media-Adani Group deal is false and baseless Ambuja and ACC combined have the capacity to produce at least 70 million tonnes of cement annually, while UltraTech Cement boasts capacity of 120 million tonnes. Together, Ambuja and ACC own 31 cement making facilities and employ over 10,700 people. The transaction is expected to close in the second half of 2022, Holcim said. WATCH WION LIVE HERE:

Adani to become India's No. 2 cement maker with $10.5 billion Holcim deal

In the signs of increasing volatility in stock markets, Asian markets have recovered temporarily today after a day of intense losses. India's BSE Sensex opened with gains of 600 points and it is trading with gains.

Asian stocks in green after a day of intense losses

The Russian Rouble firmed past 64 per dollar briefly jumping to 62.71 to the greenback, and climbed towards its highest in nearly five years against the euro, supported by continuing restrictions on currency trading.

Russian Rouble inches closer to 5-year highs

Currency markets where as investors sought safety due to fears about global growth, Dollars started the week just off a 20-year high against peers while crypto markets appeared to find some stability after last week's turmoil.

Dollar holds gains as investors seek safety, crypto markets find stability