As per a stock exchange filing, Life Insurance Corp's (LIC) largest-ever initial public offering (IPO) was oversubscribed 2.95 times as six days of bidding ended on Monday.

However, foreign institutional investors (FII) have been cautious about the IPO, according to an Indian government official.

"Predominantly this issue has been domestically lifted," &nbsp;said Tuhin Kanta Pandey, secretary of India's Department of Investment and Public Asset Management, (DIPAM).

Watch |&nbsp;Gravitas | LIC IPO: All you need to know

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As per a report by Bloomberg, foreign institutional investors have mostly avoided India's largest share sale, finding it too expensive in light of currency uncertainties and the global market environment.

However, in the final hours before the subscription deadline on Monday, FII's pushed up their offers for India's largest share sale.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/lic-ipo-opens-on-may-4-perks-price-and-other-details-475671">LIC IPO opens on May 4: Perks, Price and other details</a>

Citing data from the exchanges, Bloomberg reports that overseas investors placed orders for 61 per cent of the shares set aside for institutional purchasers in the $2.7 billion initial public offerings.

According to Bloomberg, the lack of international investor interest contrasts sharply with several of last year's Indian IPOs like &nbsp;One97 Communications Ltd., which controls, digital payments business Paytm, and Zomato Ltd., a food delivery company.

While overseas investors only started to come in on the last day, retail buyers have been pouring in since the issue went on sale.

The subscription has been driven by policyholders. The segment allocated for policyholders has been subscribed over 6.12 times. Bids worth Rs 12,034 crore have been submitted by policyholders. Employees' shares were subscribed 4.4 times, while retail individual investors' shares were subscribed 2 times.

(With inputs from agencies)

​​​​​​​

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&nbsp;

As per a stock exchange filing, Life Insurance Corp's (LIC) largest-ever initial public offering (IPO) was oversubscribed 2.95 times as six days of bidding ended on Monday.

As per a stock exchange filing, Life Insurance Corp's (LIC) largest-ever initial public offering (IPO) was oversubscribed 2.95 times as six days of bidding ended on Monday. However, foreign institutional investors (FII) have been cautious about the IPO, according to an Indian government official. "Predominantly this issue has been domestically lifted," said Tuhin Kanta Pandey, secretary of India's Department of Investment and Public Asset Management, (DIPAM). Watch | Gravitas | LIC IPO: All you need to know As per a report by Bloomberg, foreign institutional investors have mostly avoided India's largest share sale, finding it too expensive in light of currency uncertainties and the global market environment. However, in the final hours before the subscription deadline on Monday, FII's pushed up their offers for India's largest share sale. Also read | LIC IPO opens on May 4: Perks, Price and other details Citing data from the exchanges, Bloomberg reports that overseas investors placed orders for 61 per cent of the shares set aside for institutional purchasers in the $2.7 billion initial public offerings. According to Bloomberg, the lack of international investor interest contrasts sharply with several of last year's Indian IPOs like One97 Communications Ltd., which controls, digital payments business Paytm, and Zomato Ltd., a food delivery company. While overseas investors only started to come in on the last day, retail buyers have been pouring in since the issue went on sale. The subscription has been driven by policyholders. The segment allocated for policyholders has been subscribed over 6.12 times. Bids worth Rs 12,034 crore have been submitted by policyholders. Employees' shares were subscribed 4.4 times, while retail individual investors' shares were subscribed 2 times. (With inputs from agencies) Watch WION LIVE HERE:

Policyholders lead subscription of India's biggest IPO LIC, while foreign investors shun it

Bitcoin has been acting volatile again.&nbsp;Its value seems to have been falling continuously over the weekend. It has dipped below $34,000 (£27,630), as per the Coinbase cryptocurrency exchange. &nbsp;

Since its peak in November last year, this cryptocurrency, which is actually the world's largest by market value, has nosedived and is down by 50%. &nbsp;

This comes as the stock markets around the world are facing a hard time and have been going down recently. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/technology/lawsuit-filed-against-tesla-ceo-elon-musk-to-prevent-twitters-buyout-477098" hreflang="en">Lawsuit filed against Tesla CEO Elon Musk to prevent Twitter's buyout</a>

Some Asian markets may witness downward trend again on Monday as Japan's benchmark Nikkei index is down by around 2%.&nbsp;

With a value of $636bn, Bitcoin seems to account for around a third of the whole cryptocurrency market. &nbsp;

The second biggest cryptocurrency in the world, Ethereum, has also been in dire straits and has gone down by over 10% last week. &nbsp;

Watch:&nbsp;Zimbabwe suspends bank lending in bid to arrest currency decline

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This downside in the value of digital assets has become a huge reason to worry for investors. So, it is a time to tread cautiously. &nbsp;

In earlier years of the cryptocurrency market, the volatile trading was not unusual in digital assets.&nbsp; &nbsp;&nbsp;

For most of the 2022, it had been relatively quiet though. &nbsp;

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(With inputs from agencies)&nbsp;

Bitcoin has been acting volatile again. Its value seems to have been falling continuously over the weekend. It has dipped below $34,000 (£27,630), as per the Coinbase cryptocurrency exchange.

Bitcoin has been acting volatile again. Its value seems to have been falling continuously over the weekend. It has dipped below $34,000 (£27,630), as per the Coinbase cryptocurrency exchange. Since its peak in November last year, this cryptocurrency, which is actually the world's largest by market value, has nosedived and is down by 50%. This comes as the stock markets around the world are facing a hard time and have been going down recently. Also Read: Lawsuit filed against Tesla CEO Elon Musk to prevent Twitter's buyout Some Asian markets may witness downward trend again on Monday as Japan's benchmark Nikkei index is down by around 2%. With a value of $636bn, Bitcoin seems to account for around a third of the whole cryptocurrency market. The second biggest cryptocurrency in the world, Ethereum, has also been in dire straits and has gone down by over 10% last week. Watch: Zimbabwe suspends bank lending in bid to arrest currency decline × This downside in the value of digital assets has become a huge reason to worry for investors. So, it is a time to tread cautiously. In earlier years of the cryptocurrency market, the volatile trading was not unusual in digital assets. For most of the 2022, it had been relatively quiet though. WATCH WION LIVE HERE (With inputs from agencies)

Is Bitcoin too volatile again? Value falls over 50% since last peak

It has been two years since the covid-19 pandemic began in the March of 2020. There have been a number of changes since then in the world of Human Resources and hiring. The workers have worked into remote and hybrid forms of working and the recent professional changes including resignation working from home and remote recruitment- all stare at a dramatic shift.

Tech including AI increasingly used for Human Resources and Hiring

Diseases are on the rise in today's fast-paced world. At the same time, medical treatment costs are steadily increasing. A health insurance coverage can assist cover the costs of hospitalisation and treatment for a variety of conditions.

In the event of an unforeseen occurrence, one's money may be lost in paying for their dependents' numerous financial obligations.&nbsp;

Both health and life insurance policies are essential components of any portfolio.

Unless a life insurance policy is in place to replenish the dependants' finances if and when the worst happens, there may not be much left for future generations.

In times like these, acquiring a good&nbsp;insurance policy for yourself and your family can provide the extra safety you need.&nbsp;

Health Insurance vs&nbsp;Life Insurance

A life insurance policy, as the name implies, offers coverage for a specific length of time, or 'term.' Term insurance is a pure protection life insurance policy that pays out a guaranteed amount if something bad happens during the term. It compensates the insured's nominee for loss of income.

The idea is that the insurance will be enough to replace lost income in the future, as well as cover existing expenses and obligations like funeral charges, hospital bills, and other debts—or to support college savings accounts or retirement years.

Despite the loss of you and your wage-earning abilities, this provides financial stability to the family, ensuring that they do not struggle.

Medical expenses such as doctor's visits, hospital stays, drugs, tests, and treatments are covered by health insurance. This makes it easier for people to afford medical treatment and stay healthy.

Here are some things to think about before choosing the correct insurance plan:

The sooner you start, the better: Because term insurance plans provide death benefits, premiums are determined by the insured's age. As a result, it is better to purchase term insurance at a young age and for a larger sum insured.

Examine your insurance requirements: What is your financial contribution to the family and how many people are financially dependent on you? Is there anything on which your family can rely to pay bills and repay debts following your untimely death? The answers to these questions should assist you in determining how much insurance you require.

Choosing the Insured Amount: The quantity of sum insured should be planned according to the stage of your life cycle, and the cover should be sufficient to provide the insured's family with an adequate amount in the event of the insured's death.

Compare insurance plans: Before choosing one, compare at least three options. This would undoubtedly assist in making a wise decision by comparing the following variables.

1: Each plan's total payout

2: The premium paid for the desired Total Payout.

3: Policy terms are available.

4: A high rate of claim settlement

5: Riders included in the plan

Tax advantages: A life insurance policy can help you save money on your taxes. This could be a deciding factor as well.Health insurance, on the other hand, is critical in today's environment. Premiums paid on health insurance are tax deductible under section 80D of the Income Tax Act.

Section 80C of the Income Tax Act allows you to deduct insurance premiums paid to insure your own life, the life of your spouse, or the life of your child.

Coverage: A health plan should be chosen based on the many coverages available, such as pre- and post-hospitalization, childcare costs, transportation, and illnesses that you may be at risk of due to your family's medical history, among others.

Hospital Network Coverage: Inquire about your insurer's hospital network coverage; this will save you time.

Diseases are on the rise in today's fast-paced world. At the same time, medical treatment costs are steadily increasing. A health insurance coverage can assist cover the costs of hospitalisation and treatment for a variety of conditions.

Diseases are on the rise in today's fast-paced world. At the same time, medical treatment costs are steadily increasing. A health insurance coverage can assist cover the costs of hospitalisation and treatment for a variety of conditions. In the event of an unforeseen occurrence, one's money may be lost in paying for their dependents' numerous financial obligations. Both health and life insurance policies are essential components of any portfolio. Unless a life insurance policy is in place to replenish the dependants' finances if and when the worst happens, there may not be much left for future generations. In times like these, acquiring a good insurance policy for yourself and your family can provide the extra safety you need. Health Insurance vs Life Insurance A life insurance policy, as the name implies, offers coverage for a specific length of time, or 'term.' Term insurance is a pure protection life insurance policy that pays out a guaranteed amount if something bad happens during the term. It compensates the insured's nominee for loss of income. The idea is that the insurance will be enough to replace lost income in the future, as well as cover existing expenses and obligations like funeral charges, hospital bills, and other debts—or to support college savings accounts or retirement years. Despite the loss of you and your wage-earning abilities, this provides financial stability to the family, ensuring that they do not struggle. Medical expenses such as doctor's visits, hospital stays, drugs, tests, and treatments are covered by health insurance. This makes it easier for people to afford medical treatment and stay healthy. Here are some things to think about before choosing the correct insurance plan: The sooner you start, the better: Because term insurance plans provide death benefits, premiums are determined by the insured's age. As a result, it is better to purchase term insurance at a young age and for a larger sum insured. Examine your insurance requirements: What is your financial contribution to the family and how many people are financially dependent on you? Is there anything on which your family can rely to pay bills and repay debts following your untimely death? The answers to these questions should assist you in determining how much insurance you require. Choosing the Insured Amount: The quantity of sum insured should be planned according to the stage of your life cycle, and the cover should be sufficient to provide the insured's family with an adequate amount in the event of the insured's death. Compare insurance plans: Before choosing one, compare at least three options. This would undoubtedly assist in making a wise decision by comparing the following variables. 1: Each plan's total payout 2: The premium paid for the desired Total Payout. 3: Policy terms are available. 4: A high rate of claim settlement 5: Riders included in the plan Tax advantages: A life insurance policy can help you save money on your taxes. This could be a deciding factor as well.Health insurance, on the other hand, is critical in today's environment. Premiums paid on health insurance are tax deductible under section 80D of the Income Tax Act. Section 80C of the Income Tax Act allows you to deduct insurance premiums paid to insure your own life, the life of your spouse, or the life of your child. Coverage: A health plan should be chosen based on the many coverages available, such as pre- and post-hospitalization, childcare costs, transportation, and illnesses that you may be at risk of due to your family's medical history, among others. Hospital Network Coverage: Inquire about your insurer's hospital network coverage; this will save you time.

Insurance and you: Why and when should you buy it?

India has recently seen its 100th unicorn with a valuation of 1 billion dollars. The startup sector in India is booming and one sector that is doing really well is online gaming space. To talk more on online gaming space and unicorns its future and ways to capitalize it we are joined by Mr Trivikraman Thampy, co-founder Games24x7.

India's potential as online gaming market: Mr Trivikraman Thampy, co-founder Games24x7 | Exclusive

Turkey's annual inflation has jumped to nearly 70% in April, fuelled by the Russia-Ukraine conflict and rising commodity prices after a Lira crash late last year.

Turkey's inflation surges to 20-year high

Electric Vehicles (EVs) almost doubled their market share in the European Union during the first quarter, as the rollout of models across the continent picks up pace.

EV nearly doubled European Union market share

The Bank of England’s policymakers are expected to increase interest rates from 0.75% to 1%, a level not seen since 2009. The Bank expects UK inflation to rise to roughly 10% this year as a result of the Russia-Ukraine war and lockdowns in China.

Bank Of England hikes interest rates to 13-year high

Boeing will move its headquarters from Chicago to Arlington, Virginia, as the crisis-plagued US plane maker works to repair relationships with customers, federal regulators and lawmakers.

Boeing to move headquarters from Chicago to Virginia

Tesla CEO Elon Musk is expected to serve as a temporary CEO of Twitter for a few months after he completes his $44 billion takeover of the social media company.

Elon Musk to lead Twitter temporarily after $44 billion takeover, says report

Bentley, the luxury British carmaker, seems to be on cloud nine at the moment. The company said on Thursday that its first-quarter operating profit jumped 162% in comparison to the same period last year, as per media reports. &nbsp;

The company has registered a profit of $179 million (€170 million) in the period. &nbsp;

This comes as the 102-year-old carmaker has faced the loss of some cars at sea and has been encountering pandemic-led delivery issues in China. &nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/inching-closer-to-buy-twitter-for-44-billion-elon-musk-raises-714-billion-from-investors-476557" hreflang="en">Inching closer: To buy Twitter for $44 bn, Elon Musk raises $7.14 bn from Binance, Oracle's Larry Ellison</a>

The high customer interest in new models has led to the jump, the Volkswagen unit said. &nbsp;&nbsp;

The firm has witnessed a record order book of around 10,000 vehicles for the period. &nbsp;

The total car sales have actually dropped 5 per cent quarter over quarter due to various factors in Covid pandemic, another report said.

Watch:&nbsp;Elon Musk to lead Twitter temporarily after $44 billion takeover, says report

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The car sales have reached 3,203 from 3,358 but the revenue per car has hiked from $193,000 (€184,000) to $223,000 (€212,000), as per media reports. It has triggered a boost of around 41 per cent in quarterly revenues and taken it to $855 million (€813 million). &nbsp;

In a statement, Adrian Hallmark, Chairman and CEO of Bentley Motors, said, “These results demonstrate the intrinsic strength of our brand and confirm the ongoing success of our industry-leading Beyond100 strategy. They also suggest even more promise for the transformational years ahead.” &nbsp;

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(With inputs from agencies)&nbsp;

Bentley, the luxury British carmaker, seems to be on cloud nine at the moment. The company said on Thursday that its first-quarter operating profit jumped 162% in comparison to the same period last year, as per media reports.

Bentley, the luxury British carmaker, seems to be on cloud nine at the moment. The company said on Thursday that its first-quarter operating profit jumped 162% in comparison to the same period last year, as per media reports. The company has registered a profit of $179 million (€170 million) in the period. This comes as the 102-year-old carmaker has faced the loss of some cars at sea and has been encountering pandemic-led delivery issues in China. Also Read | Inching closer: To buy Twitter for $44 bn, Elon Musk raises $7.14 bn from Binance, Oracle's Larry Ellison The high customer interest in new models has led to the jump, the Volkswagen unit said. The firm has witnessed a record order book of around 10,000 vehicles for the period. The total car sales have actually dropped 5 per cent quarter over quarter due to various factors in Covid pandemic, another report said. Watch: Elon Musk to lead Twitter temporarily after $44 billion takeover, says report × The car sales have reached 3,203 from 3,358 but the revenue per car has hiked from $193,000 (€184,000) to $223,000 (€212,000), as per media reports. It has triggered a boost of around 41 per cent in quarterly revenues and taken it to $855 million (€813 million). In a statement, Adrian Hallmark, Chairman and CEO of Bentley Motors, said, “These results demonstrate the intrinsic strength of our brand and confirm the ongoing success of our industry-leading Beyond100 strategy. They also suggest even more promise for the transformational years ahead.” WATCH WION LIVE HERE (With inputs from agencies)

On cloud nine: Bentley witnesses strongest Q1, registers 162% jump in operating profit to $179 million

Life Insurance Corporation is a household name. Buying an LIC insurance policy is considered as gold standard of savings or ensuring oneself against the or oddities of life. The Insurance giant LIC's share sale has begun yesterday.

LIC's mega IPO gets an extra day for subscription

The bank of England looks poised now to raise interest rates today for the fourth time since December, it's the fastest increase in borrowing costs in a quarter of a century as it tries to quell the danger from the leap inflation.

Bank of England set to raise bank rate from 1% to 0.75%

Russia-Ukraine war and high inflation has hit now e-commerce giant EBay where its has become latest e-commerce retailer to give a gloomy revenue forecast as growth is slowing in the sector after two years of rapid expansion during covid pandemic.

EBay deepens e-commerce gloom with disappointing forecast

At a time when electric cars are being launched by automakers, Japanese auto major Honda has launched 2022 Honda City Hybrid Electric Vehicle at 19.5 lakh rupees at showroom price, it's first mainstream segment car in India to be with strong hybrid tech.

Honda to launch first hybrid electric car in India

The Federal Reserve’s decision to hike interest rates rattled Wall Street on Thursday as major US stocks tanked at the stock market.

The S&amp;P 500, Dow and Nasdaq plunged sharply, with losses accelerating during intraday trading.

The S&amp;P 500 fell by 3.7 per cent, the Dow Jones Industrial Average tumbled 1,100 points, or 3.3 per cent, to 32,945 and the Nasdaq lost 5 per cent.

Major tech stocks tanked at Nasdaq, with Google-parent Alphabet Inc, Apple Inc,&nbsp;Microsoft Corp, Meta Platforms, Tesla Inc and Amazon.com falling between 4. 5 per cent and 6.5 per cent

A day earlier, the blue-chip index posted its best single-session gain since May 2020, rising 2.99 per cent.

The bloodbath in the US was also reflected in European stocks as fears of a recession, suggested by the Bank of England after it hiked rates, dampened enthusiasm from Federal Reserve Chair Jerome Powell’s remarks on Wednesday.

He had said that policymakers were not considering 75 basis-point moves in the future.

The yield on 10-year Treasury notes rose 16.9 basis points to 3.084 pre cent, while inflation-hedge gold bounced higher after Powell also emphasized risks to the economy from soaring inflation.

Watch |&nbsp;Fed raises interest rates by 50-bps

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"It's a very messy environment for investors right now," Anthony Saglimbene, global market strategist at Ameriprise Financial, told Reuters.

"There`s an overall negative sentiment in the market."

He expects the markets to remain volatile until there is a clear picture on Fed rate policy and its trajectory later this year.

The dollar index rose 1.131 per cent, rebounding after falling sharply on Wednesday following the Fed`s rate hike. It is up more than 7 per cent so far this year.

There was some respite in China where shares recovered some ground, gaining 0.7 per cent as mainland markets resumed trade after a three-day holiday.

Investors also cheered a pledge by China’s central bank for more monetary policy support to help businesses badly hit by the latest COVID-19 outbreak.

Oil prices rose as a stronger dollar offset supply concerns after the European Union`s plans for new sanctions against Russia, including an embargo on crude in six months.

(With inputs from agencies)

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The Federal Reserve’s decision to hike interest rates rattled Wall Street on Thursday as major US stocks tanked at the stock market. The S&P 500, Dow and Nasdaq plunged sharply, with losses accelerating during intraday trading.

The Federal Reserve’s decision to hike interest rates rattled Wall Street on Thursday as major US stocks tanked at the stock market. The S&P 500, Dow and Nasdaq plunged sharply, with losses accelerating during intraday trading. The S&P 500 fell by 3.7 per cent, the Dow Jones Industrial Average tumbled 1,100 points, or 3.3 per cent, to 32,945 and the Nasdaq lost 5 per cent. Major tech stocks tanked at Nasdaq, with Google-parent Alphabet Inc, Apple Inc, Microsoft Corp, Meta Platforms, Tesla Inc and Amazon.com falling between 4. 5 per cent and 6.5 per cent A day earlier, the blue-chip index posted its best single-session gain since May 2020, rising 2.99 per cent. The bloodbath in the US was also reflected in European stocks as fears of a recession, suggested by the Bank of England after it hiked rates, dampened enthusiasm from Federal Reserve Chair Jerome Powell’s remarks on Wednesday. He had said that policymakers were not considering 75 basis-point moves in the future. The yield on 10-year Treasury notes rose 16.9 basis points to 3.084 pre cent, while inflation-hedge gold bounced higher after Powell also emphasized risks to the economy from soaring inflation. Watch | Fed raises interest rates by 50-bps "It's a very messy environment for investors right now," Anthony Saglimbene, global market strategist at Ameriprise Financial, told Reuters. "There`s an overall negative sentiment in the market." He expects the markets to remain volatile until there is a clear picture on Fed rate policy and its trajectory later this year. The dollar index rose 1.131 per cent, rebounding after falling sharply on Wednesday following the Fed`s rate hike. It is up more than 7 per cent so far this year. There was some respite in China where shares recovered some ground, gaining 0.7 per cent as mainland markets resumed trade after a three-day holiday. Investors also cheered a pledge by China’s central bank for more monetary policy support to help businesses badly hit by the latest COVID-19 outbreak. Oil prices rose as a stronger dollar offset supply concerns after the European Union`s plans for new sanctions against Russia, including an embargo on crude in six months. (With inputs from agencies) WATCH WION LIVE

Dow, Nasdaq plunge sharply on account of US Fed hike, markets expected to remain volatile

US Federal reserve has hiked interest rates by 50 basis points, in a bid to reign in the raging inflation in the country, the hike is the biggest rate hike since 2000 and the Fed chair has promised to use all available tools to check the four decade high inflation rate.

Fed raises interest rates by 50-bps, markets welcome interest rate

The Federal Reserve on Wednesday announced its&nbsp;biggest&nbsp;rate&nbsp;hike&nbsp;since&nbsp;2000, with a half percentage point&nbsp;increase&nbsp;as it works to crush soaring US&nbsp;inflation.

With&nbsp;inflation&nbsp;at the highest&nbsp;rate&nbsp;in four decades, Federal Reserve Chair Jerome Powell sent a message directly to the American people, expressing concern for the pain caused by rising prices, and pledging to use all available tools to bring them down.

But he told reporters he remains confident the economy is strong enough to withstand&nbsp;rate&nbsp;increases without tipping into a recession.

Also read |&nbsp;<a href="https://www.wionews.com/photos/from-recession-to-inflation-how-the-us-fed-has-dealt-with-crises-475472">From recession to inflation, how the US Fed has dealt with crisis</a>

After a quarter-point hike in March, the US&nbsp;central bank's policy-setting Federal Open Market Committee (FOMC) pushed the benchmark interest&nbsp;rate&nbsp;above 0.75 per cent as it works to cool the economy, and confirmed more increases "will be appropriate."

The hike will raise the costs of all types of borrowing, from mortgages to credit cards to car loans, cooling demand and business activity.

Inflation&nbsp;has become an overriding concern after the world's largest economy saw annual consumer prices surge 8.5 per cent over the 12 months to March,&nbsp;the&nbsp;biggest&nbsp;jump&nbsp;since&nbsp;December 1981.

Policymakers continue to believe&nbsp;inflation&nbsp;will gradually return to the&nbsp;Fed's two-percent target as it raises borrowing costs, but in a statement following the conclusion of its two-day meeting, the FOMC said it will be "highly attentive to&nbsp;inflation&nbsp;risks."

In an unusual move, Powell opened his news conference speaking to the American people.

"Inflation&nbsp;is much too high. And we understand the hardship that is causing," he said, promising to use all tools available to bring it down "expeditiously."

Watch |&nbsp;US Fed lifts policy rate by 0.25%

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He acknowledged that higher interest rates also bring their share of pain, but "everyone would be better off if we can get this job done. The sooner, the better."

To achieve that aim, he said "additional 50-basis point increases should be on the table at the next couple of meetings," however, a more aggressive three-quarter point hike is not under consideration.

The&nbsp;Fed's goal is to engineer a "soft landing," reining in&nbsp;inflation&nbsp;while avoiding a contraction in economic activity, and Powell said that outcome is likely.

"It's a strong economy, and nothing about it suggested... that it's close to or vulnerable to a recession," he said.

Ukraine war impact

But with China's pandemic lockdowns worsening global supply snarls and the war in Ukraine pushing commodity prices higher, analysts fear factors beyond the&nbsp;central bank's control could undermine that goal, and perhaps plunge the US economy into a recession.

WATCH WION LIVE HERE:&nbsp;

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The FOMC acknowledged the "highly uncertain" impact of Russia's invasion of Ukraine and Western sanctions on Moscow, which are "creating additional upward pressure on&nbsp;inflation&nbsp;and are likely to weigh on economic activity."&nbsp;

In addition, Covid lockdowns in China "are likely to exacerbate supply chain disruptions," the statement said.&nbsp;

Offloading bonds

Though it contracted in the first quarter, Powell said the economy was healthy enough to withstand higher rates, and pointed to robust job gains and strong household and business spending.

However, central bankers cannot engineer a solution for the worker shortages that have challenged businesses and raised fears of a wage-price spiral, when employees demand higher salaries and fuel price increases.&nbsp;

Powell downplayed those concerns, saying some of the&nbsp;inflation&nbsp;is due to price shocks, while&nbsp;Fed&nbsp;policy can help address the "imbalance" in the labor market.

On Wednesday, payroll services firm ADP reported private employers added a weaker-than-expected 247,000 workers in April, a sign that companies are struggling to find available labor, while government data released Tuesday showed there are nearly two openings for every job seeker.

Also read |&nbsp;<a href="https://www.wionews.com/economy/us-fed-officials-firm-up-plans-for-a-swift-pullback-of-economic-help-455510">US Fed officials firm up plans for a swift pullback of economic help</a>

The FOMC also said it would begin reducing its massive bond holdings starting June 1, beginning at the pace of $47.5 billion a month, and then doubling after three months, also aimed at removing stimulus from the economy.

The decision was widely expected, and many economists believe the FOMC will again hike rates by a half-point in June, though Ian Shepherdson of Pantheon Economics said, "After that we think all bets are off, given the likelihood of a steep, sustained drop in&nbsp;inflation, a clear softening in manufacturing, and a meltdown in housing market activity."

Stock markets cheered the&nbsp;Fed&nbsp;move, closing sharply higher, with big gains in interest-sensitive tech shares.

The Federal Reserve on Wednesday announced its biggest rate hike since 2000, with a half percentage point increase as it works to crush soaring US inflation. With inflation at the highest rate in four decades, Federal Reserve Chair Jerome Powell sent a message directly to the American people, expressing concern for the pain caused by rising prices, and pledging to use all available tools to bring them down.

The Federal Reserve on Wednesday announced its biggest rate hike since 2000, with a half percentage point increase as it works to crush soaring US inflation. With inflation at the highest rate in four decades, Federal Reserve Chair Jerome Powell sent a message directly to the American people, expressing concern for the pain caused by rising prices, and pledging to use all available tools to bring them down. But he told reporters he remains confident the economy is strong enough to withstand rate increases without tipping into a recession. Also read | From recession to inflation, how the US Fed has dealt with crisis After a quarter-point hike in March, the US central bank's policy-setting Federal Open Market Committee (FOMC) pushed the benchmark interest rate above 0.75 per cent as it works to cool the economy, and confirmed more increases "will be appropriate." The hike will raise the costs of all types of borrowing, from mortgages to credit cards to car loans, cooling demand and business activity. Inflation has become an overriding concern after the world's largest economy saw annual consumer prices surge 8.5 per cent over the 12 months to March, the biggest jump since December 1981. Policymakers continue to believe inflation will gradually return to the Fed's two-percent target as it raises borrowing costs, but in a statement following the conclusion of its two-day meeting, the FOMC said it will be "highly attentive to inflation risks." In an unusual move, Powell opened his news conference speaking to the American people. "Inflation is much too high. And we understand the hardship that is causing," he said, promising to use all tools available to bring it down "expeditiously." Watch | US Fed lifts policy rate by 0.25% He acknowledged that higher interest rates also bring their share of pain, but "everyone would be better off if we can get this job done. The sooner, the better." To achieve that aim, he said "additional 50-basis point increases should be on the table at the next couple of meetings," however, a more aggressive three-quarter point hike is not under consideration. The Fed's goal is to engineer a "soft landing," reining in inflation while avoiding a contraction in economic activity, and Powell said that outcome is likely. "It's a strong economy, and nothing about it suggested... that it's close to or vulnerable to a recession," he said. Ukraine war impact But with China's pandemic lockdowns worsening global supply snarls and the war in Ukraine pushing commodity prices higher, analysts fear factors beyond the central bank's control could undermine that goal, and perhaps plunge the US economy into a recession. WATCH WION LIVE HERE: The FOMC acknowledged the "highly uncertain" impact of Russia's invasion of Ukraine and Western sanctions on Moscow, which are "creating additional upward pressure on inflation and are likely to weigh on economic activity." In addition, Covid lockdowns in China "are likely to exacerbate supply chain disruptions," the statement said. Offloading bonds Though it contracted in the first quarter, Powell said the economy was healthy enough to withstand higher rates, and pointed to robust job gains and strong household and business spending. However, central bankers cannot engineer a solution for the worker shortages that have challenged businesses and raised fears of a wage-price spiral, when employees demand higher salaries and fuel price increases. Powell downplayed those concerns, saying some of the inflation is due to price shocks, while Fed policy can help address the "imbalance" in the labor market. On Wednesday, payroll services firm ADP reported private employers added a weaker-than-expected 247,000 workers in April, a sign that companies are struggling to find available labor, while government data released Tuesday showed there are nearly two openings for every job seeker. Also read | US Fed officials firm up plans for a swift pullback of economic help The FOMC also said it would begin reducing its massive bond holdings starting June 1, beginning at the pace of $47.5 billion a month, and then doubling after three months, also aimed at removing stimulus from the economy. The decision was widely expected, and many economists believe the FOMC will again hike rates by a half-point in June, though Ian Shepherdson of Pantheon Economics said, "After that we think all bets are off, given the likelihood of a steep, sustained drop in inflation, a clear softening in manufacturing, and a meltdown in housing market activity." Stock markets cheered the Fed move, closing sharply higher, with big gains in interest-sensitive tech shares.

US Fed makes biggest rate increase since 2000 to fight inflation

A number of global equity markets edged higher on Tuesday while 10-year US Treasury yields slid from the 3% level as investors remained cautious, expecting the Federal Reserve to hike rates to curb inflation.

US treasury yields slip from 3% level for first time since 2018

As sales growth missed Wall Street targets due to China's tough Covid-19 curbs, Starbucks has suspended its guidance for rest of fiscal years.

Starbucks misses sales estimates due to China's covid-19 curbs

Australia's central bank on Tuesday raised its cash rate by a surprisingly large 25 basis points to 0.35%, the first hike in over a decade, and flagged more to come as it pulls down the curtain on massive pandemic stimulus.

Australia's central bank hikes interest rates

Business jets are often associated with entertainers and top executives, they now account for a quarter of US flights it's roughly twice pre-pandemic share now according to research and consultancy agency wing six the continue if the boom continues there now private flying is a way of life for many executives and those who convert it from commercial flights are not going back for example

Covid-driven boom in private jets flying high

In an unexpected move, RBI Governor Shaktikanta Das announced on Wednesday that the Monetary Policy Committee (MPC) unanimously voted to raise the policy repo rate by 40 basis points (bps) to 4.40 percent with immediate effect, citing persistent inflationary pressures in the economy.&nbsp;

The RBI has raised borrowing rates for the first time since August 2018.

The MPC has also opted to remain accommodative while focusing on withdrawal, implying a reversal of the rate action in 2020, which saw 75 basis points slashed after the world economy was thrown into disarray following the COVID-19 epidemic.

Explaining the decision, he said, "MPC decided to hold an off-cycle meeting to reassess the inflation-growth dynamics.&nbsp;There is a collateral risk of inflated inflation for a long time. "

Persistent inflation pressures are becoming more acute, Governor Shaktikanta Das said in an online briefing, adding that there is a risk that prices stay at this level for "too long" and expectations become unanchored.&nbsp;

The bank’s next scheduled rate decision isn’t until June 8.

As inflation rose, the RBI became more hawkish in its April policy, shifting its focus from growth to inflation.&nbsp;

In March, headline inflation was 6.95 per cent, exceeding the Reserve Bank of India's 6 per cent comfort level for the third month in a row.&nbsp;

Price pressures are expected to rise even more in the coming months, according to economists.

The highlights of the Governor of the Reserve Bank of India's speech are listed below:&nbsp;

<ol>
	<li>From May 21, the Cash Reserve Ratio will be increased by 50 basis points to 4.5 per cent. 
	&nbsp;</li>
	<li>Inflation must be controlled in order for the Indian economy to remain stable, according to RBI Governor Shaktikanta Das. He went on to say that measures to keep prices stable will aid financial and macroeconomic stability. 
	&nbsp;</li>
	<li>The threat of input cost pressure is fueling a new round of pricing hikes. He emphasised that price increases will have an impact on inflation. 
	&nbsp;</li>
	<li>Nine out of the 12 food subgroups registered an increase in inflation in the month of March. High-frequency price indicators for April indicate the persistence of food price pressures. 
	 
	&nbsp;</li>
</ol>

&nbsp;

In an unexpected move, RBI Governor Shaktikanta Das announced on Wednesday that the Monetary Policy Committee (MPC) unanimously voted to raise the policy repo rate by 40 basis points (bps) to 4.

In an unexpected move, RBI Governor Shaktikanta Das announced on Wednesday that the Monetary Policy Committee (MPC) unanimously voted to raise the policy repo rate by 40 basis points (bps) to 4.40 percent with immediate effect, citing persistent inflationary pressures in the economy. The RBI has raised borrowing rates for the first time since August 2018. The MPC has also opted to remain accommodative while focusing on withdrawal, implying a reversal of the rate action in 2020, which saw 75 basis points slashed after the world economy was thrown into disarray following the COVID-19 epidemic. Explaining the decision, he said, "MPC decided to hold an off-cycle meeting to reassess the inflation-growth dynamics. There is a collateral risk of inflated inflation for a long time. " Persistent inflation pressures are becoming more acute, Governor Shaktikanta Das said in an online briefing, adding that there is a risk that prices stay at this level for "too long" and expectations become unanchored. The bank’s next scheduled rate decision isn’t until June 8. As inflation rose, the RBI became more hawkish in its April policy, shifting its focus from growth to inflation. In March, headline inflation was 6.95 per cent, exceeding the Reserve Bank of India's 6 per cent comfort level for the third month in a row. Price pressures are expected to rise even more in the coming months, according to economists. The highlights of the Governor of the Reserve Bank of India's speech are listed below: From May 21, the Cash Reserve Ratio will be increased by 50 basis points to 4.5 per cent. Inflation must be controlled in order for the Indian economy to remain stable, according to RBI Governor Shaktikanta Das. He went on to say that measures to keep prices stable will aid financial and macroeconomic stability. The threat of input cost pressure is fueling a new round of pricing hikes. He emphasised that price increases will have an impact on inflation. Nine out of the 12 food subgroups registered an increase in inflation in the month of March. High-frequency price indicators for April indicate the persistence of food price pressures.

RBI hikes rates by 40 basis points with immediate effect: Governor Shaktikanta Das

North Korea's isolated economy will not be insulated from global economic headwinds caused by the Ukraine war and the COVID-19 lockdowns in China, analysts said, with recently resumed border trade taking a hit and inflation exacerbating food shortages.

Shortages in North Korea's isolated economy, global problems may exacerbate

Tesla CEO Elon Musk is in talks with large investment firms and high net worth individuals, it's about taking on more financing for his 44 billion dollar acquisition of Twitter and tying up less of his wealth in the deal.

Tesla CEO Musk seeks to put in less money in Twitter deal financing

The rise in workers quitting their jobs and manufacturers becoming more anxious about supply over summer because of China's zero tolerance policy of COVID, US factory activity grew at its lowest space in more than one and a half years last month.

US manufacturing activity slowest in more than a year as workers quit