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WION's Business Editor Sumit Chaturvedi exclusively spoke to Alexander Klimburg, Head of Centre for Cybersecurity, WEF on the sidelines of the World Economic Forum Annual Meeting 2022 in Davos.

Looking at $10 trn cybercrime damage every year: Alexander Klimburg, WEF Cybersecurity Head

There is a major acquisition happening in the business of technology as computer chip and software maker Broadcom is all set to buy cloud technology firm VMWare. The deal is estimated to be around $61 billion - making it one of the biggest deals in the current market situation. This will be an even bigger deal than Elon Musk’s proposed move to buy Twitter for around $44 billion. Broadcom is already well known for making computer chips, but this deal will strengthen their position in the cloud computing market as it will allow them to blend public cloud access with internal networks, according to Associated Press.

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-finance-minister-rishi-sunak-unveils-18-billion-cost-of-living-bailout-package-482383" hreflang="en">UK Finance Minister Rishi Sunak unveils $18 billion cost-of-living bailout</a>

The VMware shareholders will be given a choice between $142.50 in cash for each of their shares or 0.2520 shares of Broadcom common stock in exchange of the existing ones. There is also some rebranding expected after the proposed takeover and the company will take over $8 billion of debt.

Broadcom have already started preparation for funding the massive acquisition by speaking to a consortium of banks. The banks will be providing a fully committed debt financing of $32 billion.

Also read |&nbsp;<a href="https://www.wionews.com/world/was-monkeypox-already-circulating-in-uk-scientists-have-interesting-answers-482333">Was monkeypox already circulating in UK? Scientists have interesting answers</a>

According to a report on Associated Press, 12 per cent of the company will still stay with VMWare shareholders while the deal will include 88 per cent for Broadcom. The deal has already been approved and it is expected to be completed by 2023. This will be a new venture for Broadcom as cloud technology has emerged as a massive market and it will be very good for their diversification.

(With inputs from agencies)

There is a major acquisition happening in the business of technology as computer chip and software maker Broadcom is all set to buy cloud technology firm VMWare.

There is a major acquisition happening in the business of technology as computer chip and software maker Broadcom is all set to buy cloud technology firm VMWare. The deal is estimated to be around $61 billion - making it one of the biggest deals in the current market situation. This will be an even bigger deal than Elon Musk’s proposed move to buy Twitter for around $44 billion. Broadcom is already well known for making computer chips, but this deal will strengthen their position in the cloud computing market as it will allow them to blend public cloud access with internal networks, according to Associated Press. Also read | UK Finance Minister Rishi Sunak unveils $18 billion cost-of-living bailout The VMware shareholders will be given a choice between $142.50 in cash for each of their shares or 0.2520 shares of Broadcom common stock in exchange of the existing ones. There is also some rebranding expected after the proposed takeover and the company will take over $8 billion of debt. Broadcom have already started preparation for funding the massive acquisition by speaking to a consortium of banks. The banks will be providing a fully committed debt financing of $32 billion. Also read | Was monkeypox already circulating in UK? Scientists have interesting answers According to a report on Associated Press, 12 per cent of the company will still stay with VMWare shareholders while the deal will include 88 per cent for Broadcom. The deal has already been approved and it is expected to be completed by 2023. This will be a new venture for Broadcom as cloud technology has emerged as a massive market and it will be very good for their diversification. (With inputs from agencies)

Broadcom to buy cloud services firm VMware in massive $61 billion deal

Twitter has been making headlines again. In some of the latest developments, an additional $6.25 billion in equity financing was pledged by Elon Musk on Wednesday, media reports said. The billionaire has taken this move to fund the $44-billion takeover offer for social media company. Musk has also reduced margin loan against Tesla Inc shares to zero. In a regulatory filing on Wednesday, the disclosure showed Musk is looking to complete the deal. &nbsp;&nbsp;

Musk is also in talks with shareholders, like Jack Dorsey, to get additional financing commitments to fund the deal, he said on Wednesday. In extended trading, the shares of Twitter jumped by around 6% to $39.15. &nbsp;

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Meanwhile, Twitter Inc has finally settled with authorities in US over allegations of misrepresentation of the "security and privacy" of user data from May 2013 to September 2019, as per the court documents filed on Wednesday. As part of the settlement, Twitter will now pay $150 million, the documents said. &nbsp;

The Justice Department and the Federal Trade Commission have announced the settlement. &nbsp;

"Specifically, while Twitter represented to users that it collected their telephone numbers and email addresses to secure their accounts, Twitter failed to disclose that it also used user contact information to aid advertisers in reaching their preferred audiences," the complaint said. &nbsp;

(With inputs from agencies)&nbsp;

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Twitter has been making headlines again. In some of the latest developments, an additional $6.25 billion in equity financing was pledged by Elon Musk on Wednesday, media reports said.

Twitter has been making headlines again. In some of the latest developments, an additional $6.25 billion in equity financing was pledged by Elon Musk on Wednesday, media reports said. The billionaire has taken this move to fund the $44-billion takeover offer for social media company. Musk has also reduced margin loan against Tesla Inc shares to zero. In a regulatory filing on Wednesday, the disclosure showed Musk is looking to complete the deal. Musk is also in talks with shareholders, like Jack Dorsey, to get additional financing commitments to fund the deal, he said on Wednesday. In extended trading, the shares of Twitter jumped by around 6% to $39.15. WATCH WION LIVE HERE Meanwhile, Twitter Inc has finally settled with authorities in US over allegations of misrepresentation of the "security and privacy" of user data from May 2013 to September 2019, as per the court documents filed on Wednesday. As part of the settlement, Twitter will now pay $150 million, the documents said. The Justice Department and the Federal Trade Commission have announced the settlement. "Specifically, while Twitter represented to users that it collected their telephone numbers and email addresses to secure their accounts, Twitter failed to disclose that it also used user contact information to aid advertisers in reaching their preferred audiences," the complaint said. (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. ×

As Twitter readies to pay $150 mn in settlement, Musk pledges $6.25 bn more to fund takeover deal

WION's Business Editor Sumit Chaturvedi exclusively spoke to Praveer Sinha, TATA Power CEO and MD on the sidelines of the World Economic Forum Annual Meeting 2022 in Davos.

We feel excited on opportunity on clean energy: Praveer Sinha, TATA Power CEO and MD

Hyundai Motor will recall 281,000 vehicles in North America over seat-belt pretensioners that could explode and project metal fragments, causing injuries.

Hyundai to recall 281,000 North American vehicles over exploding part

Airbnb will shut down all listings and experiences in mainland China from July 30, joining a long list of Western internet platforms that have opted out of the China market.

Airbnb to shut domestic business in China from July 30

Indian companies are also present at the World Economic Forum annual summit in Davos, India has registered economic recovery post covid-19 pandemic better than many nations. WION's Business Editor Sumit Chaturvedi exclusively spoke to Anish Shah, Mahindra and Mahindra CEO.

Less concerns from inflation in India: Anish Shah, Mahindra and Mahindra CEO

Starbucks will cease operations in Russia, shuttering its 130 cafes in the country. Starbucks said it will continue to pay its nearly 2,000 Russian employees for six months and help them transition to new jobs.

Starbucks leaving Russian market after 15 years, will close 130 stores

Apple is never afraid to drop features from its devices. It has ditched ports on the MacBook even removed chargers from iPhone boxes and even dropped the headphone jack on the iPhone and this time it looks like they may be removing buttons from the MacBook.

Apple patent tech reveals new plans, no buttons for Apple devices?

The Hyundai Motor Group said on Sunday it would invest another $5 billion in the United States by 2025 to strengthen cooperation with US companies in advanced technology.

Hyundai Motor Group to invest more than $10 billion in US by 2025

The annual summit of the World Economic Forum in Davos in Switzerland has kicked off today after a gap of nearly about two and a half years. 2,500 leaders from politics, business, media will attend the summit.

Davos World Economic Forum: Russian invasion of Ukraine to dominate agenda

Sharp falls in the US and Asian stock markets had reverberations across UK and Europe amid concerns over inflation and slowing economies.

The FTSE 100 index of leading companies sank 1.8 per cent on Thursday while the main stock markets in France and Germany also saw massive drops, BBC reported.

This came a day after US shares recorded their biggest one-day drop on Wednesday since the early days of the Covid pandemic in 2020.

On Wall Street, the Dow Jones Industrial Average fell 3.56 per cent, the S&amp;P 500 lost 4.03 per cent and the Nasdaq Composite dropped 4.73 per cent, reports Reuters.

The declines for the S&amp;P 500 and Dow marked their biggest one-day percentage declines since June 11, 2020.

Apart from that, UK recording a massive 9 per cent inflation in April—a 40-year high— spooked the European markets, raising concerns that some economies are heading for a slowdown as interest rates are increased in an attempt to counter price rises.

British inflation is now the highest among major economies in Europe, but prices are rapidly rising worldwide, forcing central banks around the globe to hike interest rates and tamp down growth as suggested by a modest decline in US homebuilding in April

The UK's biggest retailer, Tesco, fell 1.8 per cent while shares in consumer goods giant Unilever dropped nearly 1 per cent.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/pakistan-bans-import-of-luxurious-items-as-weak-rupee-low-reserves-batter-economy-480474">Pak bans import of luxurious items as weak rupee, low reserves batter economy</a>

The biggest fall on the UK market was Royal Mail, which sank more than 12 per cent after reporting disappointing results and warning it was facing "significant headwinds" from rising costs.

Also read |&nbsp;<a href="https://www.wionews.com/world/for-the-first-time-sri-lanka-defaults-on-its-payments-480520" hreflang="en">For the first time, Sri Lanka defaults on its payments</a>

The FTSE 100 closed 135 points lower at 7,302.7, while France's Cac-40 index and Germany's Dax dropped by 1.3% and 0.9% respectively.

In Asia, Japan's benchmark Nikkei index closed down 1.9 per cent while Hong Kong's Hang Seng dropped 2.5 cent

(With inputs from agencies)

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Sharp falls in the US and Asian stock markets had reverberations across UK and Europe amid concerns over inflation and slowing economies. The FTSE 100 index of leading companies sank 1.

Sharp falls in the US and Asian stock markets had reverberations across UK and Europe amid concerns over inflation and slowing economies. The FTSE 100 index of leading companies sank 1.8 per cent on Thursday while the main stock markets in France and Germany also saw massive drops, BBC reported. This came a day after US shares recorded their biggest one-day drop on Wednesday since the early days of the Covid pandemic in 2020. On Wall Street, the Dow Jones Industrial Average fell 3.56 per cent, the S&P 500 lost 4.03 per cent and the Nasdaq Composite dropped 4.73 per cent, reports Reuters. The declines for the S&P 500 and Dow marked their biggest one-day percentage declines since June 11, 2020. Apart from that, UK recording a massive 9 per cent inflation in April—a 40-year high— spooked the European markets, raising concerns that some economies are heading for a slowdown as interest rates are increased in an attempt to counter price rises. British inflation is now the highest among major economies in Europe, but prices are rapidly rising worldwide, forcing central banks around the globe to hike interest rates and tamp down growth as suggested by a modest decline in US homebuilding in April The UK's biggest retailer, Tesco, fell 1.8 per cent while shares in consumer goods giant Unilever dropped nearly 1 per cent. Also read | Pak bans import of luxurious items as weak rupee, low reserves batter economy The biggest fall on the UK market was Royal Mail, which sank more than 12 per cent after reporting disappointing results and warning it was facing "significant headwinds" from rising costs. Also read | For the first time, Sri Lanka defaults on its payments The FTSE 100 closed 135 points lower at 7,302.7, while France's Cac-40 index and Germany's Dax dropped by 1.3% and 0.9% respectively. In Asia, Japan's benchmark Nikkei index closed down 1.9 per cent while Hong Kong's Hang Seng dropped 2.5 cent (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Europe, UK stock markets see steep decline amid concerns over inflation, slow growth

Tesla investors are worried that Tesla CEO Elon Musk is distracted due to the ongoing deal between him and Twitter. However, Musk said 'Tesla is on my mind 24/7'.

Musk says 'Tesla is on my mind 24/7' as Tesla CEO trying to soothe investor worries

Japan has recorded its biggest jump in consumer prices in over 7 years. Inflationary pressure is possible from fuel costs.

Japan's April consumer prices: Biggest jump in consumer prices in over 7 years

The Indian luxury car market is witnessing a strong revival in demand after sluggish sales. Electric, Hybrid cars are gaining popularity.

Indian luxury car market: Strong revival in demand

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

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;

A formal announcement will be made by the government on telecommunications security at 4:15 pm ET (2015 GMT), the government said. &nbsp;

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;

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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;

The decision, which was expected, seems to have been delayed due to diplomatic tensions with China. &nbsp;

Huawei, which is one of the biggest global suppliers of network gear, has been a concern for US security and law enforcement. &nbsp;&nbsp;

(With inputs from agencies)&nbsp;

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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