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The global stock market stumbled this morning as investors concerned over escalating Ukraine-Russia tensions led to bloodbaths across stock markets from Asia to Europe.

Global stocks down on Ukraine-Russia tensions

New York's Nasdaq is all set to see its first initial public offering by a Chinese company in seven months.

According to the New York Stock Exchange's online IPO hub, healthcare supplies maker Meihua International Medical Technologies is on track this week to price its debut share sale.

A security review of all platform companies before they list overseas is needed as per the new rules of the Cyberspace Administration of China (CAC).

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-decoding-chinas-crackdown-on-everything-438842/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Chinese firms raised $12.8 billion in the United States in the first seven months of last year, but the deals halted after the New York debut of Didi Global in late June triggered a regulatory backlash by Beijing. That brought tighter scrutiny for all offshore listings.

Some smaller Chinese companies are now reviving efforts to sell shares in the United States, confident they are not targeted by the new rules seeking to block offshore listings by firms handling large amounts of data or posing national security risks.

The US Securities and Exchange Commission has stepped up its supervision of Chinese companies listed overseas, including reviews of their cybersecurity.

SEC Chair Gary Gensler is especially critical of Chinese businesses that use shell companies to get around Chinese rules blocking foreign ownership for their industries.

<a href="https://www.wionews.com/world/didi-to-delist-from-new-york-stock-exchange-after-chinese-regulator-pressure-433722">Also read |&nbsp;Didi to delist from New York Stock Exchange after Chinese regulator pressure</a>

Under these deals, the Chinese business forms a shell company in the Cayman Islands or somewhere else. The shell company then sells its stock to investors after listing in New York.

The shell company has no ownership of the Chinese company. Instead, it has service contracts with it. These arrangements are called variable interest entities, or “VIEs.”

“I worry that average investors may not realize that they hold stock in a shell company rather than a China-based operating company,” Gensler said.

"I think both US and Chinese regulators hope legitimate, law-abiding companies like us can grow bigger and stronger through listings," Zhang Jiulin, chairman of insurance broker Hengguang Holding Co.

His company filed a draft IPO prospectus on Jan 18 with the Securities Exchange Commission (SEC), aiming to raise up to $19.6 million via its Nasdaq listing later this year.

Zhang brushed aside concerns that tighter Chinese control of cross-border data transfer will hamper the firm's U.S. listing, saying Hengguang did not collect sensitive individual customer data.

Apart from the new IPO applications, more than a dozen Chinese companies have also amended IPO papers this year, SEC filings showed.

"Market participants are seeing the light at the end of the tunnel," said Ming Liao, founding partner of private equity firm Prospect Avenue Capital. 
&nbsp;

(With inputs from agencies)

New York's Nasdaq is all set to see its first initial public offering by a Chinese company in seven months. According to the New York Stock Exchange's online IPO hub, healthcare supplies maker Meihua International Medical Technologies is on track this week to price its debut share sale.

New York's Nasdaq is all set to see its first initial public offering by a Chinese company in seven months. According to the New York Stock Exchange's online IPO hub, healthcare supplies maker Meihua International Medical Technologies is on track this week to price its debut share sale. A security review of all platform companies before they list overseas is needed as per the new rules of the Cyberspace Administration of China (CAC). Chinese firms raised $12.8 billion in the United States in the first seven months of last year, but the deals halted after the New York debut of Didi Global in late June triggered a regulatory backlash by Beijing. That brought tighter scrutiny for all offshore listings. Some smaller Chinese companies are now reviving efforts to sell shares in the United States, confident they are not targeted by the new rules seeking to block offshore listings by firms handling large amounts of data or posing national security risks. The US Securities and Exchange Commission has stepped up its supervision of Chinese companies listed overseas, including reviews of their cybersecurity. SEC Chair Gary Gensler is especially critical of Chinese businesses that use shell companies to get around Chinese rules blocking foreign ownership for their industries. Also read | Didi to delist from New York Stock Exchange after Chinese regulator pressure Under these deals, the Chinese business forms a shell company in the Cayman Islands or somewhere else. The shell company then sells its stock to investors after listing in New York. The shell company has no ownership of the Chinese company. Instead, it has service contracts with it. These arrangements are called variable interest entities, or “VIEs.” “I worry that average investors may not realize that they hold stock in a shell company rather than a China-based operating company,” Gensler said. "I think both US and Chinese regulators hope legitimate, law-abiding companies like us can grow bigger and stronger through listings," Zhang Jiulin, chairman of insurance broker Hengguang Holding Co. His company filed a draft IPO prospectus on Jan 18 with the Securities Exchange Commission (SEC), aiming to raise up to $19.6 million via its Nasdaq listing later this year. Zhang brushed aside concerns that tighter Chinese control of cross-border data transfer will hamper the firm's U.S. listing, saying Hengguang did not collect sensitive individual customer data. Apart from the new IPO applications, more than a dozen Chinese companies have also amended IPO papers this year, SEC filings showed. "Market participants are seeing the light at the end of the tunnel," said Ming Liao, founding partner of private equity firm Prospect Avenue Capital. (With inputs from agencies)

New York poised for first IPO by Chinese company in seven months after regulatory crackdown

Securities and Exchange Board of India (SEBI) has made a striking revelation. The one that nobody can&nbsp;ignore. &nbsp;

In a probe, the market regulator has found that the former head of one of India's largest stock exchanges used to share confidential information with a yogi to seek his advice on crucial decisions. &nbsp;

It is a case of "bizarre misconduct" and "glaring breach" of regulations. This comes ahead of the market's much-awaited public listing. &nbsp;&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/new-ipo-in-market-indias-lic-files-draft-papers-to-sell-5-shares-to-raise-8-billion-453134" hreflang="en">New IPO in market: India's LIC files draft papers to sell 5% shares to raise $8 billion</a>

Former chief executive of National Stock Exchange (NSE) Chitra Ramkrishna shared crucial information including the market's business plans, financial projections and board agenda with a purported spiritual guru in the Himalayas, the SEBI said. &nbsp;

In an order, SEBI said, "The sharing of financial and business plans of NSE ... is a glaring, if not unimaginable, act that could shake the very foundations of the stock exchange." &nbsp;&nbsp;

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The guru was running the exchange, and Ramkrishna was "merely a puppet in his hands", the SEBI added. &nbsp;&nbsp;

The regulator has also imposed penalties on Ramkrishna, the market and other top former executives for the lapses.&nbsp;

In 2016, Ramkrishna quit NSE citing "personal reasons". &nbsp;&nbsp;

(With inputs from agencies)&nbsp;

Securities and Exchange Board of India (SEBI) has made a striking revelation. The one that nobody can ignore. In a probe, the market regulator has found that the former head of one of India's largest stock exchanges used to share confidential information with a yogi to seek his advice on crucial decisions.

Securities and Exchange Board of India (SEBI) has made a striking revelation. The one that nobody can ignore. In a probe, the market regulator has found that the former head of one of India's largest stock exchanges used to share confidential information with a yogi to seek his advice on crucial decisions. It is a case of "bizarre misconduct" and "glaring breach" of regulations. This comes ahead of the market's much-awaited public listing. Also Read: New IPO in market: India's LIC files draft papers to sell 5% shares to raise $8 billion Former chief executive of National Stock Exchange (NSE) Chitra Ramkrishna shared crucial information including the market's business plans, financial projections and board agenda with a purported spiritual guru in the Himalayas, the SEBI said. In an order, SEBI said, "The sharing of financial and business plans of NSE ... is a glaring, if not unimaginable, act that could shake the very foundations of the stock exchange." Also Read: UP, Goa Assembly Polls 2022: Polling underway in two Indian states; 55 seats in UP, 40 in Goa up for grabs The guru was running the exchange, and Ramkrishna was "merely a puppet in his hands", the SEBI added. The regulator has also imposed penalties on Ramkrishna, the market and other top former executives for the lapses. In 2016, Ramkrishna quit NSE citing "personal reasons". (With inputs from agencies)

Ex-chief of India's largest bourse NSE let a 'guru' to control her decisions, fined

Hit by the sanctions from the United States, Iran's bookstores fear washout. The increased production cost is expected to have a wider impact.

Bookstores fear washout in Iran as publishers are running out of cash

Major global stock indexes fell on Thursday under pressure from crucial US inflation data, falling technology shares and rising benchmark bond yields.

US inflation data hits global stocks, highest in 40 years

Biden administration has unveiled its plan to award nearly five billion dollars. The money will be used over five years to build thousands of electric vehicle charging stations.

US unveils $5 bn plan to fund EV charging network

The state of California in the US is suing Tesla over allegations of racial discrimination at its factory near San Francisco. California's department of fair employment and housing has filed a lawsuit alleging that widespread discrimination and harassment of black employees is happening, the lawsuit follows complaints from hundreds of tesla workers.

Tesla workers complain of discrimination, harassment of black employees

The Reserve Bank of India`s monetary policy committee (MPC) stuck to its accommodative policy stance to help the economy recover from the pits of the pandemic, keeping the key lending rate at record lows on Thursday.

As expected, the MPC held the lending rate, or the repo rate, at 4 per cent. The RBI, however, surprised some economists by also leaving the reverse repo rate, the key borrowing rate, unchanged at 3.35 per cent.

The MPC voted unanimously to maintain the status quo on the repo rate and by a majority of 5-1 to retain the accommodative policy stance.

Continued policy support was warranted for a durable and broadbased recovery, RBI governor Shaktikanta Das said, noting an improving inflation outlook, prospects for economic growth and uncertainties posed by the fast-spreading Omicron variant of COVID-19, and the global economy.

"Private consumption, the mainstay of domestic demand, continues to trail its pre-pandemic level. The persistent increase in international commodity prices, surge in volatility of global financial markets and global supply bottlenecks can exacerbate risks to the outlook," he said in his policy address.

"Overall, there is some loss of the momentum of near-term growth while global factors are turning adverse. Looking ahead, domestic growth drivers are gradually improving."

India`s 10-year benchmark bond yield fell 8 basis points to 6.72 per cent by 0610 GMT, in reaction to the policy, while the rupee weakened just slightly to 74.91 per dollar.

The NSE Nifty 50 index rose 0.84 per cent to 17,610.20, while the S&amp;P BSE Sensex was up 0.83 per cent at 58,953.65.

Retail inflation accelerated to a five-month high of 5.59 per cent&nbsp;in December from a year earlier, while wholesale price-based inflation, a proxy for producer prices, eased marginally to 13.56 per cent, but remained in double-digits for nine straight months.

Rising oil prices pose a major upside risk to inflation but it should peak in the current quarter and then moderate closer towards the 4 per cent&nbsp;target in H2 of 2022/23 providing room for monetary policy to stay accommodative, Das said.

Real GDP growth is projected at 7.8 per cent in 2022/23 compared to expected growth of 9.2 per cent this year, he added.

"The somewhat comfortable inflation trajectory provides RBI space to withdraw monetary support only gradually and reduces the need of any sudden tightening actions," said Sakshi Gupta, senior economist at HDFC bank in Gurugram.

"We expect the RBI to support growth and raise the repo rate only by the August policy once there are greater signs of a more even recovery."

The central bank has slashed the repo rate by a total of 115 basis points (bps) since March 2020 to soften the blow from the coronavirus pandemic and tough containment measures. The rate is now 250 bps below its level at the beginning of 2019, when the easing cycle began. 
&nbsp;

The Reserve Bank of India`s monetary policy committee (MPC) stuck to its accommodative policy stance to help the economy recover from the pits of the pandemic, keeping the key lending rate at record lows on Thursday.

The Reserve Bank of India`s monetary policy committee (MPC) stuck to its accommodative policy stance to help the economy recover from the pits of the pandemic, keeping the key lending rate at record lows on Thursday. As expected, the MPC held the lending rate, or the repo rate, at 4 per cent. The RBI, however, surprised some economists by also leaving the reverse repo rate, the key borrowing rate, unchanged at 3.35 per cent. The MPC voted unanimously to maintain the status quo on the repo rate and by a majority of 5-1 to retain the accommodative policy stance. Continued policy support was warranted for a durable and broadbased recovery, RBI governor Shaktikanta Das said, noting an improving inflation outlook, prospects for economic growth and uncertainties posed by the fast-spreading Omicron variant of COVID-19, and the global economy. "Private consumption, the mainstay of domestic demand, continues to trail its pre-pandemic level. The persistent increase in international commodity prices, surge in volatility of global financial markets and global supply bottlenecks can exacerbate risks to the outlook," he said in his policy address. "Overall, there is some loss of the momentum of near-term growth while global factors are turning adverse. Looking ahead, domestic growth drivers are gradually improving." India`s 10-year benchmark bond yield fell 8 basis points to 6.72 per cent by 0610 GMT, in reaction to the policy, while the rupee weakened just slightly to 74.91 per dollar. The NSE Nifty 50 index rose 0.84 per cent to 17,610.20, while the S&P BSE Sensex was up 0.83 per cent at 58,953.65. Retail inflation accelerated to a five-month high of 5.59 per cent in December from a year earlier, while wholesale price-based inflation, a proxy for producer prices, eased marginally to 13.56 per cent, but remained in double-digits for nine straight months. Rising oil prices pose a major upside risk to inflation but it should peak in the current quarter and then moderate closer towards the 4 per cent target in H2 of 2022/23 providing room for monetary policy to stay accommodative, Das said. Real GDP growth is projected at 7.8 per cent in 2022/23 compared to expected growth of 9.2 per cent this year, he added. "The somewhat comfortable inflation trajectory provides RBI space to withdraw monetary support only gradually and reduces the need of any sudden tightening actions," said Sakshi Gupta, senior economist at HDFC bank in Gurugram. "We expect the RBI to support growth and raise the repo rate only by the August policy once there are greater signs of a more even recovery." The central bank has slashed the repo rate by a total of 115 basis points (bps) since March 2020 to soften the blow from the coronavirus pandemic and tough containment measures. The rate is now 250 bps below its level at the beginning of 2019, when the easing cycle began.

Post-Budget, RBI keeps lending rate unchanged

Information technology sector is optimistic about the year ahead as its business has increased in lockdown period and it's also looking forward to more orders this year. To know more about the Indian IT sector, we are joined by Mr CP Gurnani, MD & CEO of Tech Mahindra.

'Digital money a favorable move for the economy,' says CP Gurnani, MD & CEO of Tech Mahindra

Tesla is recalling 26,681 vehicles in the United States because a software error may result in windshield defrosting problems, the National Highway Traffic Safety Administration (NHTSA) stated.

Tesla recalls 26,681 US vehicles

RBI Governor Shaktikanta Das on Thursday announced MPC's accommodative stance, leaving repo rate, reverse repo rate, bank rate and MSF rate unchanged. The policy rate held its stance for the tenth consecutive time and was last revised on May 22, 2020 by the RBI.

RBI Guv announces unchanged rates, projects GDP growth at 7.8%

Harley-Davidson reported a sharp jump in revenue and an unexpected profit for the fourth quarter, boosted by price hikes and a shift toward sales of higher-margin touring and cruiser motorcycles, sending its shares up nearly 15%.

Harley-Davidson reports a sharp jump in revenue and unexpected profit for the fourth quarter

Indian government has rejected Tesla's request to reduce import duty for electric cars earlier its CEO Elon Musk he had requested Indian government to reduce import taxes on electric vehicles also making it clear that relaxations will not be provided to Tesla unless it starts manufacturing activities in India.

India rejects Tesla's request on Tariffs

Tesla said on Wednesday that California Department of Fair Employment and Housing (DFEH) intends to file lawsuit against the company for alleged recial discrimination and harassment at its factory in Fremont, California. The alleged misconduct took place between 2015 and 2019.

The electric-car maker said it will ask the court to pause the case once the state's civil rights regulator files its lawsuit.

Tesla said that despite several requests, the regulator declined to provide it specific allegations or the factual bases for its lawsuit.

In the past, the department has investigated claims by employees who believe they were discriminated against or harassed, but did not find any misconduct, Tesla said.

The department did not immediately respond to a Reuters request for comment.

The company has been fighting a series of lawsuits over allegations of racial discrimination and sexual harassment.

It was sued by two female employees last year, with both their lawsuits alleging a "hostile work environment" against women at the carmaker's factory in Fremont.

In October, a Black contract worker won a jury award worth $137 million over workplace racism against the company.

Subsequently, a proposal was approved by Tesla shareholders asking the company to publish a report on its diversity and inclusion effort.

(With inputs from agencies)

Tesla said on Wednesday that California Department of Fair Employment and Housing (DFEH) intends to file lawsuit against the company for alleged recial discrimination and harassment at its factory in Fremont, California.

Tesla said on Wednesday that California Department of Fair Employment and Housing (DFEH) intends to file lawsuit against the company for alleged recial discrimination and harassment at its factory in Fremont, California. The alleged misconduct took place between 2015 and 2019. The electric-car maker said it will ask the court to pause the case once the state's civil rights regulator files its lawsuit. Tesla said that despite several requests, the regulator declined to provide it specific allegations or the factual bases for its lawsuit. In the past, the department has investigated claims by employees who believe they were discriminated against or harassed, but did not find any misconduct, Tesla said. The department did not immediately respond to a Reuters request for comment. The company has been fighting a series of lawsuits over allegations of racial discrimination and sexual harassment. It was sued by two female employees last year, with both their lawsuits alleging a "hostile work environment" against women at the carmaker's factory in Fremont. In October, a Black contract worker won a jury award worth $137 million over workplace racism against the company. Subsequently, a proposal was approved by Tesla shareholders asking the company to publish a report on its diversity and inclusion effort. (With inputs from agencies)

Tesla says it faces lawsuit for discrimination, harassment in California factory

Reports in local Russian media said on Wednesday that Russia may become latest country to recognise and regulate cryptocurrency.&nbsp;

“The government and the Bank of Russia have agreed on a future regime for the circulation of cryptocurrencies in Russia. Before February 18, they will prepare a draft law on the circulation of digital currencies in the Russian Federation, in which cryptocurrencies are recognised as an analogue of currencies, and not digital financial assets,” said Russia paper Kommersant as reported by CNBC.

If true, this will be a marked departure from stance taken Russia's central bank which called for blanket ban on cryptocurrencies as late as last month.&nbsp;

If the law reported in Russian media is passed, reports say that only owning cryptocurrencies will be legalised in the country and not other activities.

Cryptocurrencies have had legal status in Russia since 2020. But payments using cryptocurrencies have not yet been authorised. Authorities in the country have in past expressed fears that cryptocurrencies may be used to fund illegal activities. Kommersant says that if a law is passed, it may come into force in latter half of 2022 or first half of 2023

However, the report suggests that transactions made using cryptocurrencies that amount to more than 600,000 rubles (about $8,000) may get declared illegal.

Reports in local Russian media said on Wednesday that Russia may become latest country to recognise and regulate cryptocurrency. “The government and the Bank of Russia have agreed on a future regime for the circulation of cryptocurrencies in Russia.

Reports in local Russian media said on Wednesday that Russia may become latest country to recognise and regulate cryptocurrency. “The government and the Bank of Russia have agreed on a future regime for the circulation of cryptocurrencies in Russia. Before February 18, they will prepare a draft law on the circulation of digital currencies in the Russian Federation, in which cryptocurrencies are recognised as an analogue of currencies, and not digital financial assets,” said Russia paper Kommersant as reported by CNBC. If true, this will be a marked departure from stance taken Russia's central bank which called for blanket ban on cryptocurrencies as late as last month. If the law reported in Russian media is passed, reports say that only owning cryptocurrencies will be legalised in the country and not other activities. Cryptocurrencies have had legal status in Russia since 2020. But payments using cryptocurrencies have not yet been authorised. Authorities in the country have in past expressed fears that cryptocurrencies may be used to fund illegal activities. Kommersant says that if a law is passed, it may come into force in latter half of 2022 or first half of 2023 However, the report suggests that transactions made using cryptocurrencies that amount to more than 600,000 rubles (about $8,000) may get declared illegal.

Russia may recognise cryptocurrency, likely to pass a law: Report

Luxury carmaker Porsche expects another record year for sales despite the global semiconductor chip shortage, its management said that it s confident about 2022 sales.

Porsche expects another record year for sales despite chip shortage

In signs of trouble for South Korean auto major Hyundai #BoycottHyundai was trending on Twitter in India. Now, this after some reports pointed out Hyundai Pakistan's social media handles put out very controversial tweets on Indian union territory of Jammu and Kashmir that angered the Indian netizens.

Hyundai Pakistan posts anti-India tweets, netizens slam South Korean giant

A new report has revealed that Nike and Amazon are weighing bids for fitness company Peloton.

As per the Wall Street Journal, representatives of both the company have been in touch with Peloton regarding potential offers.

"There's no guarantee the companies will follow through with an offer or that Peloton, which is working with its own advisers, would be receptive," the Journal reported.

<div class="videoWrapper trancodeVideo">"Should there be a transaction, it could be significant, given Peloton's market value of around $8 billion — down sharply from its high around a year ago of some $50 billion," it added.</div>

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<div class="videoWrapper trancodeVideo">&nbsp;</div>

<div class="videoWrapper trancodeVideo">Shares of the&nbsp;at-home fitness company jumped on Wall Street amid reports of the company's potential takeover.</div>

Peloton has been the target of an activist investor, Blackwells Capital, who is pushing for CEO John Foley to be fired and for the company to be sold.

It posted a YouTube tongue-in-cheek commercial to fire back at an episode of a "Sex and the City" reboot TV series that suggested the company's exercise bikes can be lethal.

<a href="https://www.wionews.com/entertainment/and-just-like-that-the-show-is-over-451225">Also read |&nbsp;'And Just Like That,' the show is over</a>

In a scene of the show, the fictional Mr. Big suffers a fatal heart attack after taking a Peloton bike class. The death of Big, played by actor Chris Noth, leaves a major character, actress Sarah Jessica Parker's Carrie Bradshaw, a widow.

The company benefited significantly from the pandemic restrictions of 2020 as gyms closed and people began to exercise at home.

The growth in the fitness band market has prompted tech giants such as Apple Inc and Samsung to introduce features for health tracking, including electrocardiograms and blood pressure sensors.

But Peloton Interactive Inc has struggled to adjust to easing Covid restrictions. Its shares fell more than 75 percent last year and almost 25 percent since January.

The company has tried to cushion the blow to its growth by cutting the price of its popular bike and ramping up its ad spending, but growth remains stagnant.

(With inputs from agencies)

A new report has revealed that Nike and Amazon are weighing bids for fitness company Peloton. As per the Wall Street Journal, representatives of both the company have been in touch with Peloton regarding potential offers.

A new report has revealed that Nike and Amazon are weighing bids for fitness company Peloton. As per the Wall Street Journal, representatives of both the company have been in touch with Peloton regarding potential offers. "There's no guarantee the companies will follow through with an offer or that Peloton, which is working with its own advisers, would be receptive," the Journal reported. "Should there be a transaction, it could be significant, given Peloton's market value of around $8 billion — down sharply from its high around a year ago of some $50 billion," it added. Shares of the at-home fitness company jumped on Wall Street amid reports of the company's potential takeover. Peloton has been the target of an activist investor, Blackwells Capital, who is pushing for CEO John Foley to be fired and for the company to be sold. It posted a YouTube tongue-in-cheek commercial to fire back at an episode of a "Sex and the City" reboot TV series that suggested the company's exercise bikes can be lethal. Also read | 'And Just Like That,' the show is over In a scene of the show, the fictional Mr. Big suffers a fatal heart attack after taking a Peloton bike class. The death of Big, played by actor Chris Noth, leaves a major character, actress Sarah Jessica Parker's Carrie Bradshaw, a widow. The company benefited significantly from the pandemic restrictions of 2020 as gyms closed and people began to exercise at home. The growth in the fitness band market has prompted tech giants such as Apple Inc and Samsung to introduce features for health tracking, including electrocardiograms and blood pressure sensors. But Peloton Interactive Inc has struggled to adjust to easing Covid restrictions. Its shares fell more than 75 percent last year and almost 25 percent since January. The company has tried to cushion the blow to its growth by cutting the price of its popular bike and ramping up its ad spending, but growth remains stagnant. (With inputs from agencies)

Nike and Amazon are weighing bid for fitness company Peloton: Report

Britain and South Korea will sign an agreement to reinforce pandemic-damaged supply lines for key products like semiconductors, with trade minister Anne-Marie Trevelyan due to host her counterpart Yeo Han-koo in London.

UK, South Korea to sign deal on supply chains

Asian share markets mostly eased on Monday after stunningly strong US jobs data soothed concerns about the global economy but also added to the risk of an aggressive tightening by the Federal Reserve.

Asia shares slip as US jobs data fears over global recovery

Facebook owner Meta Platforms shares plunge 26% late on Wednesday after the social media company posted a weaker-than-expected forecast, blaming Apple's privacy changes and increased competition for users from rivals like TikTok.

Meta shares plunge 26%, Facebook reports a decline in daily active users

The transition to electric vehicles will put around 73,000 jobs at risk in Italy, metal workers' unions and a lobby group said on Thursday, calling on the government to start discussions on measures to support the automotive industry.

Electric car transition puts over 70,000 jobs at risk in Italy

Meta's shares plummet 26% after Facebook reports a decline in daily active users

India's Finance Minister Nirmala Sitharaman stressed on Thursday (February 3) that Budget 2022 was not a populist exercise and the government had stability of the economy in mind and not&nbsp;electoral gains. She was speaking with WION's Editor-In-Chief Sudhir Chaudhary. Sitharaman present the union budget in Indian parliament on February 1.

India is entering the election season with state elections taking place in five states. The list includes Uttar Pradesh which is the most populous state in the country and commands great political might. Governments all over the world are viewed to be taking populist measures when elections are around the corner but Sitharaman stresses that this was not the case with Union Budget 2022.

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She said that the government focussed on long-term stability of the Indian economy. She said that Indian government was committed to develop the nation and create more jobs. She emphasised that the government was leaving no stone unturned to help poor Indians.

One of the major provisions in the budget was the government's decision to tax cryptocurrency gains. When she presented the budget in parliament, Nirmala Sitharaman announced a decision to tax gains from cryptocurrency investments at 30 per cent.

Also Read | <a href="https://www.wionews.com/opinions-blogs/decoding-how-rbis-digital-rupee-will-impact-the-indian-economy-449859">Decoding how RBI’s Digital Rupee will impact the Indian economy</a>

Speaking on the issue, Sitharaman said that cryptocurrency should be inclusive and that government backing was necessary for every currency to function transparently. She further said that explanations around cryptocurrencies should be crystal clear.

Admitting that making a union budget in pandemic era was challenge, she thanked Prime Minister Narendra Modi and people of the country for their co-operation. Sitharaman said that the PM was very active and had&nbsp;been taking note of situation across sectors of the economy&nbsp;

Government often received criticism from Opposition parties who say that it favours the rich but the finance minister strongly refuted these allegations and said that budget provisions had welfare of people in middle-class and poorer sections of the society in mind. She said that PM Modi himself had stressed that it was government's duty to look after the poor.

India's Finance Minister Nirmala Sitharaman stressed on Thursday (February 3) that Budget 2022 was not a populist exercise and the government had stability of the economy in mind and not electoral gains.

India's Finance Minister Nirmala Sitharaman stressed on Thursday (February 3) that Budget 2022 was not a populist exercise and the government had stability of the economy in mind and not electoral gains. She was speaking with WION's Editor-In-Chief Sudhir Chaudhary. Sitharaman present the union budget in Indian parliament on February 1. India is entering the election season with state elections taking place in five states. The list includes Uttar Pradesh which is the most populous state in the country and commands great political might. Governments all over the world are viewed to be taking populist measures when elections are around the corner but Sitharaman stresses that this was not the case with Union Budget 2022. × She said that the government focussed on long-term stability of the Indian economy. She said that Indian government was committed to develop the nation and create more jobs. She emphasised that the government was leaving no stone unturned to help poor Indians. One of the major provisions in the budget was the government's decision to tax cryptocurrency gains. When she presented the budget in parliament, Nirmala Sitharaman announced a decision to tax gains from cryptocurrency investments at 30 per cent. Also Read | Decoding how RBI’s Digital Rupee will impact the Indian economy Speaking on the issue, Sitharaman said that cryptocurrency should be inclusive and that government backing was necessary for every currency to function transparently. She further said that explanations around cryptocurrencies should be crystal clear. Admitting that making a union budget in pandemic era was challenge, she thanked Prime Minister Narendra Modi and people of the country for their co-operation. Sitharaman said that the PM was very active and had been taking note of situation across sectors of the economy Government often received criticism from Opposition parties who say that it favours the rich but the finance minister strongly refuted these allegations and said that budget provisions had welfare of people in middle-class and poorer sections of the society in mind. She said that PM Modi himself had stressed that it was government's duty to look after the poor.

India Union Budget 2022 was not made with elections in mind: Finance Minister Nirmala Sitharaman

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