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US&nbsp;electric vehicle maker&nbsp;<a href="https://www.wionews.com/business-economy/tesla-cybertruck-orders-near-150000-just-days-after-chaotic-launch-264195">Tesla&nbsp;Inc</a> on Monday began delivering&nbsp;Model&nbsp;3 vehicles built at its Shanghai factory, marking the occasion with a ceremony during which 15 of its employees received&nbsp;cars&nbsp;they had purchased.

The event means the plant has started delivering&nbsp;cars&nbsp;to customers just 357 days after the factory's construction started, setting a new record for global automakers in&nbsp;China.

The&nbsp;China-made&nbsp;cars&nbsp;are priced at 355,800 yuan ($50,000) before subsidies and&nbsp;<a href="https://www.wionews.com/business-economy/tesla-suffer-mishap-during-launch-of-electric-cybertruck-263848">Tesla</a>&nbsp;had said it wanted to start&nbsp;deliveries&nbsp;before the Lunar New Year beginning on January&nbsp;25.

The Shanghai plant is part of the Silicon Valley automaker's plans to bolster its presence in the world's biggest auto market and minimise the impact of the <a href="https://www.wionews.com/business-economy/oil-topples-from-two-month-high-on-concern-over-us-china-trade-deal-263894">US-China</a>&nbsp;trade war. Previously,&nbsp;Tesla&nbsp;imported all of the&nbsp;cars&nbsp;it sold in&nbsp;China.

"From now onwards&nbsp;China-made&nbsp;Model&nbsp;3 vehicles will start running on&nbsp;China's large streets and small lanes,"&nbsp;Tesla&nbsp;Vice President Tao Lin said at the delivery ceremony, during which&nbsp;Model&nbsp;3s in colours including black, white and blue were handed over to customers.

US electric vehicle maker Tesla Inc on Monday began delivering Model 3 vehicles built at its Shanghai factory, marking the occasion with a ceremony during which 15 of its employees received cars they had purchased.

US electric vehicle maker Tesla Inc on Monday began delivering Model 3 vehicles built at its Shanghai factory, marking the occasion with a ceremony during which 15 of its employees received cars they had purchased. The event means the plant has started delivering cars to customers just 357 days after the factory's construction started, setting a new record for global automakers in China. The China-made cars are priced at 355,800 yuan ($50,000) before subsidies and Tesla had said it wanted to start deliveries before the Lunar New Year beginning on January 25. The Shanghai plant is part of the Silicon Valley automaker's plans to bolster its presence in the world's biggest auto market and minimise the impact of the US-China trade war. Previously, Tesla imported all of the cars it sold in China. "From now onwards China-made Model 3 vehicles will start running on China's large streets and small lanes," Tesla Vice President Tao Lin said at the delivery ceremony, during which Model 3s in colours including black, white and blue were handed over to customers.

Tesla begins deliveries of China-made Model 3 cars

Focused on profitability, the Japanese auto major Nissan has told its managers to slash non-essential spending as the automaker grapples with slumping car sales and tumbling profits.

The penny-pinching drive is in place for the rest of the financial year until end-March and will most likely continue into the coming business year.

According to reports, managers have been told to put the kibosh on unnecessary travel, sales incentives and promotional events to “conserve every yen."

Meetings that three or four people would once have travelled to attend in person, might now only have one Nissan representative.

The extensive spending cuts come in tandem with Nissan’s decision this month to order a two-day furlough for US Employees January &nbsp;2-3. There is also an effective travel ban for staff in the United States, where sales have been particularly hard hit.

Focused on profitability, the Japanese auto major Nissan has told its managers to slash non-essential spending as the automaker grapples with slumping car sales and tumbling profits.

Focused on profitability, the Japanese auto major Nissan has told its managers to slash non-essential spending as the automaker grapples with slumping car sales and tumbling profits. The penny-pinching drive is in place for the rest of the financial year until end-March and will most likely continue into the coming business year. According to reports, managers have been told to put the kibosh on unnecessary travel, sales incentives and promotional events to “conserve every yen." Meetings that three or four people would once have travelled to attend in person, might now only have one Nissan representative. The extensive spending cuts come in tandem with Nissan’s decision this month to order a two-day furlough for US Employees January 2-3. There is also an effective travel ban for staff in the United States, where sales have been particularly hard hit.

Japanese auto major Nissan orders drastic spending cuts

The year 2019 has been the year of the rich, as the world's richest 500 surged by 25 per cent, adding $1.2 trillion to their combined wealth, according to a report.&nbsp;

Names like Facebook CEO Mark Zuckerberg were seen with new additions like American social media star Kylie Jenner, who became the youngest self-made billionaire after her company 'Kylie Cosmetics', signed an exclusive partnership with Ulta Beauty Inc.

Jenner was not alone as a lot of people making money through social media, including the Korean family who helped popularise the viral baby shark song, who are not worth $125 million.

Zuckerberg topped the list with an increase in net worth by $27.3 billion. He Xiangjian- founder of China's biggest air conditioner exporter- took the second spot with an added $23.3 billion to his wealth.&nbsp;

The co-founder of Microsoft Bill Gates came in third with an addition of $22.7 billion to his fortune.&nbsp;

Amazon Inc's owner Jeff Bezos lost $9 billion due to his divorce settlement with wife Mackenzie.

However, it is important to note that as the wealth of the rich people is increasing, the gap between the rich and poor is also widening.

With reports claiming that the world's 26 richest people control as much wealth as the poorest 50 per cent.

While the rich may be making merry this New Year's Eve, their rising net worth is surely going to increase calls for equitable distribution of wealth.

The year 2019 has been the year of the rich, as the world's richest 500 surged by 25 per cent, adding $1.2 trillion to their combined wealth, according to a report.

The year 2019 has been the year of the rich, as the world's richest 500 surged by 25 per cent, adding $1.2 trillion to their combined wealth, according to a report. Names like Facebook CEO Mark Zuckerberg were seen with new additions like American social media star Kylie Jenner, who became the youngest self-made billionaire after her company 'Kylie Cosmetics', signed an exclusive partnership with Ulta Beauty Inc. Jenner was not alone as a lot of people making money through social media, including the Korean family who helped popularise the viral baby shark song, who are not worth $125 million. Zuckerberg topped the list with an increase in net worth by $27.3 billion. He Xiangjian- founder of China's biggest air conditioner exporter- took the second spot with an added $23.3 billion to his wealth. The co-founder of Microsoft Bill Gates came in third with an addition of $22.7 billion to his fortune. Amazon Inc's owner Jeff Bezos lost $9 billion due to his divorce settlement with wife Mackenzie. However, it is important to note that as the wealth of the rich people is increasing, the gap between the rich and poor is also widening. With reports claiming that the world's 26 richest people control as much wealth as the poorest 50 per cent. While the rich may be making merry this New Year's Eve, their rising net worth is surely going to increase calls for equitable distribution of wealth.

World's richest get richer, adding $1.2 trillion to their combined wealth

In a hit to Facebook’s digital currency plans, the president of Switzerland Ueli Maurer has said Facebook’s Libra project has failed in its current form and needs reworking to be approved, as the Cryptocurrency is seeking regulatory consent.

Plans for the Facebook-led digital currency, which is to be issued and governed by the Geneva-based Libra association, have raised concerns among regulators and politicians ranging from privacy to its potential to influence monetary policy and change the global financial landscape.&nbsp;

Officials running the project, including co-creator David Marcus of Facebook, have said regulatory hurdles could see the launch delayed beyond the planned June date.

The cryptocurrency is to be backed by a reserve of assets such as bank deposits and government debt held by a network of custodians.&nbsp;

The structure is meant to foster trust and avoid the price swings that plague other cryptocurrencies.&nbsp;

In a hit to Facebook’s digital currency plans, the president of Switzerland Ueli Maurer has said Facebook’s Libra project has failed in its current form and needs reworking to be approved, as the Cryptocurrency is seeking regulatory consent.

In a hit to Facebook’s digital currency plans, the president of Switzerland Ueli Maurer has said Facebook’s Libra project has failed in its current form and needs reworking to be approved, as the Cryptocurrency is seeking regulatory consent. Plans for the Facebook-led digital currency, which is to be issued and governed by the Geneva-based Libra association, have raised concerns among regulators and politicians ranging from privacy to its potential to influence monetary policy and change the global financial landscape. Officials running the project, including co-creator David Marcus of Facebook, have said regulatory hurdles could see the launch delayed beyond the planned June date. The cryptocurrency is to be backed by a reserve of assets such as bank deposits and government debt held by a network of custodians. The structure is meant to foster trust and avoid the price swings that plague other cryptocurrencies.

Libra has failed in current form: Swiss president Ueli Maurer

Around 180 flights in Germany were cancelled on Monday due to cabin crew strikes at <a href="https://www.wionews.com/world/lufthansa-cabin-crew-union-stages-all-day-strike-at-smaller-airlines-257094">Lufthansa's</a> budget airline Germanwings, in a bid to put pressure on management in wage talks.

The UFO&nbsp;labour union on Friday announced strikes from Monday to Wednesday this week at Germanwings, which operates on behalf of Lufthansa's Eurowings brand, saying little progress has been achieved in talks with Lufthansa management.

Around 15 per cent&nbsp;of flights at <a href="https://www.wionews.com/business-economy/austrian-airlines-to-slash-jobs-over-brutal-competition-260598">Eurowings</a> needed to be cancelled, a Lufthansa spokeswoman said on Monday.

"First 35 flights were cancelled, then 54, now 170, meaning that Germanwings will only manage 7 per cent&nbsp;of its original flight operations today," a spokesman for UFO said, speaking at the Cologne-Bonn airport.

"That should be a sign for Lufthansa group. Your employees are really angry. You finally have to change something," he added.

The majority of the cancelled flights were domestic, according to the Eurowings website. Stranded passengers were offered train tickets to their destinations or given a seat on flights operated by other Lufthansa airlines.

Some passengers said that while they understood cabin crew's grievances, the timing, in the middle of the holiday season, was problematic.

"I am from France and it is worse there. I am in favour of workers expressing themselves, but I am not sure if the time is right," said Celine Guiakam, a passenger at Cologne-Bonn airport.

"There is no good time for strikes. Every strike and every delay is one too many and in so far we regret that it has to happen at all," a spokesman for Eurowings said.

The deadlocked collective bargaining dispute for the 22,000 cabin employees concerns pay and working conditions among other issues

UFO held a strike for two days in November, resulting in the cancellation of one in five flights, affecting around 180,000 passengers and costing the airline 10-20 million euros ($22.39 million).

Around 180 flights in Germany were cancelled on Monday due to cabin crew strikes at Lufthansa's budget airline Germanwings, in a bid to put pressure on management in wage talks.

Around 180 flights in Germany were cancelled on Monday due to cabin crew strikes at Lufthansa's budget airline Germanwings, in a bid to put pressure on management in wage talks. The UFO labour union on Friday announced strikes from Monday to Wednesday this week at Germanwings, which operates on behalf of Lufthansa's Eurowings brand, saying little progress has been achieved in talks with Lufthansa management. Around 15 per cent of flights at Eurowings needed to be cancelled, a Lufthansa spokeswoman said on Monday. "First 35 flights were cancelled, then 54, now 170, meaning that Germanwings will only manage 7 per cent of its original flight operations today," a spokesman for UFO said, speaking at the Cologne-Bonn airport. "That should be a sign for Lufthansa group. Your employees are really angry. You finally have to change something," he added. The majority of the cancelled flights were domestic, according to the Eurowings website. Stranded passengers were offered train tickets to their destinations or given a seat on flights operated by other Lufthansa airlines. Some passengers said that while they understood cabin crew's grievances, the timing, in the middle of the holiday season, was problematic. "I am from France and it is worse there. I am in favour of workers expressing themselves, but I am not sure if the time is right," said Celine Guiakam, a passenger at Cologne-Bonn airport. "There is no good time for strikes. Every strike and every delay is one too many and in so far we regret that it has to happen at all," a spokesman for Eurowings said. The deadlocked collective bargaining dispute for the 22,000 cabin employees concerns pay and working conditions among other issues UFO held a strike for two days in November, resulting in the cancellation of one in five flights, affecting around 180,000 passengers and costing the airline 10-20 million euros ($22.39 million).

More than 150 flights cancelled in Germany as Lufthansa's Germanwings hit by strikes

Indian stock markets on Monday ended on a flat note amid mixed global cues and lack of market participants in the holiday season.&nbsp;

The BSE S&amp;P Sensex closed 17 points lower at 41,558.

The NSE Nifty 50 index ended 0.08% higher at 12,255.85, while the S&amp;P BSE Sensex closed down 0.04% at 41,558.00.

With one trading session left in 2019, the Nifty is up 12.8% this year, while the Sensex had gained 15.2%.

Tata Motors rose 4.3%, while Mahindra and Mahindra gained 1.5%. Maruti Suzuki Ltd added 1%.

The Nifty Auto index has fallen nearly 10% this year amid a sales slowdown in the industry.

(With inputs from agencies)

Indian stock markets on Monday ended on a flat note amid mixed global cues and lack of market participants in the holiday season. The BSE S&P Sensex closed 17 points lower at 41,558.

Indian stock markets on Monday ended on a flat note amid mixed global cues and lack of market participants in the holiday season. The BSE S&P Sensex closed 17 points lower at 41,558. The NSE Nifty 50 index ended 0.08% higher at 12,255.85, while the S&P BSE Sensex closed down 0.04% at 41,558.00. With one trading session left in 2019, the Nifty is up 12.8% this year, while the Sensex had gained 15.2%. Tata Motors rose 4.3%, while Mahindra and Mahindra gained 1.5%. Maruti Suzuki Ltd added 1%. The Nifty Auto index has fallen nearly 10% this year amid a sales slowdown in the industry. (With inputs from agencies)

Stock markets end flat: Sensex closes 17 points lower, Nifty at 12,256

&nbsp;A broad gauge of <a href="https://www.wionews.com/business-economy/global-markets-china-lifts-asian-shares-oil-up-on-drawdowns-mideast-tensions-270929">Asian share </a>markets rose to an 18-month high on Monday as Chinese equities gained, while oil touched three-month highs on a combination of US&nbsp;crude inventory drawdowns, trade optimism and unrest in the Middle East.

But European shares were expected to open lower as investors take a breather from recent rallies.

In early European trade, the pan-region Euro Stoxx 50 futures were down 0.16 per cent&nbsp;at 3,764, German DAX futures were down 0.22 per cent&nbsp;at 13,291.5 and FTSE futures were down 0.11&nbsp;per cent&nbsp;at 7,578.5.

MSCI's broadest index of Asia-Pacific shares outside Japan rose to its highest since June 19, 2018, before trimming gains. It was last up by 0.05 per cent.

Chinese blue chips, which had started the day lower, were up 1.13&nbsp;per cent&nbsp;in afternoon trade, bolstered by a report that 2019 retail sales are forecast to rise 8&nbsp;per cent&nbsp;and expectations that a new benchmark for floating-rate loans could lower borrowing costs and boost flagging economic growth.

But Australian shares finished 0.25 per cent&nbsp;lower as investors continued to consolidate recent gains.

Japan's Nikkei stock index finished its last trading day of the year down 0.76 per cent. The index gained 18.2per cent&nbsp;in 2019 after dropping 12.8 per cent&nbsp;last year. Easing trade war worries and reduced uncertainty over the United Kingdom's plans to leave the European Union after British elections returned a strong Conservative majority have offered a lift to global equities this month, helping the broad MSCI Asia index rise more than 6 per cent&nbsp;and putting it on track for its strongest month since January.

Kay Van-Petersen, the global macro strategist at <a href="https://www.wionews.com/business-economy/global-markets-china-lifts-asian-shares-oil-up-on-drawdowns-mideast-tensions-270929">Saxo Capital Markets</a>, said that limited liquidity near the year-end and the easing of US-China trade and Brexit uncertainties has "just left us drifting up higher. So even if there is a pullback.&nbsp;I don't think it's going to be significant by any means."

Global equity markets gained late last week, with the S&amp;P 500 and the Dow Jones Industrial Average closing at records on Friday.

The Dow ended 0.08 per cent&nbsp;higher at 28,645.26 and the S&amp;P edged up just 0.11 points to 3,240.02. The Nasdaq Composite lost steam at the close, falling 0.17 per cent&nbsp;to 9,006.62.

Oil also gained on Friday, with prices posting their fourth consecutive weekly gain to steady around their highest in three months.

On Monday, global benchmark Brent crude was up 0.31per cent&nbsp;to $68.37 per barrel, while US&nbsp;<a href="https://www.wionews.com/business-economy/crude-oil-prices-fall-1-on-fears-for-global-economy-233148">West Texas Intermediate</a> crude added 0.13 per cent&nbsp;to $61.80, reversing an earlier decline.

Oil's gains followed news of <a href="https://www.wionews.com/world/25-isis-terrorists-killed-in-us-airstrikes-in-iraq-175533">US&nbsp;airstrikes</a> in Iraq and Syria against Kataib Hezbollah, an Iran-backed militia group. US&nbsp;officials said Sunday that the attacks were successful, but warned that "additional actions" may be taken to defend US&nbsp;interests.

But Stephen Innes, strategist at AxiTrader, said that the rise of shale oil production in the United States would offset any geopolitical risks.

"Shale can really ramp up more volumes to accommodate any shortfall that could possibly be triggered by an escalation in Syria," he said, adding that an upsurge in populism in Iraq posed a larger risk to markets.

Iraq's oil ministry said on Sunday that the halting of oil production at Iraq's southern Nassiriya oilfield by protestors would not affect the country's exports and operations.

Oil prices were also supported by a bigger-than-expected decline in crude inventories in the United States, the world's biggest fuel consumer. Stockpiles fell by 5.5 million barrels in the week to December&nbsp;20, far exceeding a 1.7-million-barrel drop forecast in a Reuters poll, the government data showed on Friday.

Gold also continued its run-up, boosted by a weak dollar, after posting its best week in more than four months on Friday amid thin trading volumes.

The precious metal on Monday rose 0.3 per cent&nbsp;to $1,515 per ounce on the spot market.

In the currency markets, the dollar was 0.27&nbsp;per cent&nbsp;lower against the yen at 109.11 and the euro was up 0.23&nbsp;per cent&nbsp;on the day at $1.1201.

The dollar index, which tracks the greenback against a basket of six major currencies, was down 0.14&nbsp;per cent&nbsp;to 96.786.

The yield on benchmark 10-year Treasury notes was at 1.877 per cent&nbsp;compared with its US&nbsp;close of 1.873&nbsp;per cent&nbsp;on Friday, while the two-year yield edged down to 1.5812 per cent&nbsp;compared with a US&nbsp;close of 1.589 per cent.

A broad gauge of Asian share markets rose to an 18-month high on Monday as Chinese equities gained, while oil touched three-month highs on a combination of US crude inventory drawdowns, trade optimism and unrest in the Middle East.

A broad gauge of Asian share markets rose to an 18-month high on Monday as Chinese equities gained, while oil touched three-month highs on a combination of US crude inventory drawdowns, trade optimism and unrest in the Middle East. But European shares were expected to open lower as investors take a breather from recent rallies. In early European trade, the pan-region Euro Stoxx 50 futures were down 0.16 per cent at 3,764, German DAX futures were down 0.22 per cent at 13,291.5 and FTSE futures were down 0.11 per cent at 7,578.5. MSCI's broadest index of Asia-Pacific shares outside Japan rose to its highest since June 19, 2018, before trimming gains. It was last up by 0.05 per cent. Chinese blue chips, which had started the day lower, were up 1.13 per cent in afternoon trade, bolstered by a report that 2019 retail sales are forecast to rise 8 per cent and expectations that a new benchmark for floating-rate loans could lower borrowing costs and boost flagging economic growth. But Australian shares finished 0.25 per cent lower as investors continued to consolidate recent gains. Japan's Nikkei stock index finished its last trading day of the year down 0.76 per cent. The index gained 18.2per cent in 2019 after dropping 12.8 per cent last year. Easing trade war worries and reduced uncertainty over the United Kingdom's plans to leave the European Union after British elections returned a strong Conservative majority have offered a lift to global equities this month, helping the broad MSCI Asia index rise more than 6 per cent and putting it on track for its strongest month since January. Kay Van-Petersen, the global macro strategist at Saxo Capital Markets, said that limited liquidity near the year-end and the easing of US-China trade and Brexit uncertainties has "just left us drifting up higher. So even if there is a pullback. I don't think it's going to be significant by any means." Global equity markets gained late last week, with the S&P 500 and the Dow Jones Industrial Average closing at records on Friday. The Dow ended 0.08 per cent higher at 28,645.26 and the S&P edged up just 0.11 points to 3,240.02. The Nasdaq Composite lost steam at the close, falling 0.17 per cent to 9,006.62. Oil also gained on Friday, with prices posting their fourth consecutive weekly gain to steady around their highest in three months. On Monday, global benchmark Brent crude was up 0.31per cent to $68.37 per barrel, while US West Texas Intermediate crude added 0.13 per cent to $61.80, reversing an earlier decline. Oil's gains followed news of US airstrikes in Iraq and Syria against Kataib Hezbollah, an Iran-backed militia group. US officials said Sunday that the attacks were successful, but warned that "additional actions" may be taken to defend US interests. But Stephen Innes, strategist at AxiTrader, said that the rise of shale oil production in the United States would offset any geopolitical risks. "Shale can really ramp up more volumes to accommodate any shortfall that could possibly be triggered by an escalation in Syria," he said, adding that an upsurge in populism in Iraq posed a larger risk to markets. Iraq's oil ministry said on Sunday that the halting of oil production at Iraq's southern Nassiriya oilfield by protestors would not affect the country's exports and operations. Oil prices were also supported by a bigger-than-expected decline in crude inventories in the United States, the world's biggest fuel consumer. Stockpiles fell by 5.5 million barrels in the week to December 20, far exceeding a 1.7-million-barrel drop forecast in a Reuters poll, the government data showed on Friday. Gold also continued its run-up, boosted by a weak dollar, after posting its best week in more than four months on Friday amid thin trading volumes. The precious metal on Monday rose 0.3 per cent to $1,515 per ounce on the spot market. In the currency markets, the dollar was 0.27 per cent lower against the yen at 109.11 and the euro was up 0.23 per cent on the day at $1.1201. The dollar index, which tracks the greenback against a basket of six major currencies, was down 0.14 per cent to 96.786. The yield on benchmark 10-year Treasury notes was at 1.877 per cent compared with its US close of 1.873 per cent on Friday, while the two-year yield edged down to 1.5812 per cent compared with a US close of 1.589 per cent.

Global Markets: Asian shares at 18-month highs; Nikkei finishes year up 18%

A broad gauge of <a href="https://www.wionews.com/business-economy/asian-shares-near-18-month-high-bask-in-trade-deal-afterglow-269696">Asian share</a> markets rose to the highest in 18 months on Monday as Chinese equities gained, while oil hovered near three-month highs on a combination of US&nbsp;crude inventory drawdowns, trade optimism and unrest in the Middle East.

MSCI's broadest index of Asia-Pacific shares outside Japan was last up 0.2 per cent, turning around from an earlier loss. The index rose to its highest since June 19.

Chinese blue chips, which had started the day lower, were up 1.24&nbsp;per cent at the midday break, bolstered by a report that 2019 retail sales are forecast to rise 8&nbsp;per cent and expectations that a new benchmark for floating-rate loans could lower borrowing costs and boost flagging economic growth.

But Australian shares remained down 0.44 per cent as investors continued to consolidate recent gains. Japan's Nikkei stock index slid 0.58 per cent. Easing trade war worries and reduced uncertainty over the United Kingdom's plans to leave the European Union after British elections returned a strong Conservative majority have offered a lift to global equities this month, helping the broad MSCI Asia index rise more than 6 per cent and putting it on track for its strongest month since January.

Kay Van-Petersen, a global macro strategist at <a href="https://www.wionews.com/business-economy/asian-shares-climb-as-trump-says-us-china-trade-deal-near-264827">Saxo Capital Markets</a>, said that limited liquidity near the year-end and the easing of US-China trade and Brexit uncertainties has "just left us drifting up higher. So even if there is a pullback&nbsp;I don't think it's going to be significant by any means."

Global equity markets gained late last week, with the S&amp;P 500 and the Dow Jones Industrial Average closing at records on Friday.

The Dow ended 0.08per cent higher at 28,645.26 and the S&amp;P edged up just 0.11 points to 3,240.02. The Nasdaq Composite lost steam at the close, falling 0.17&nbsp;per cent&nbsp;to 9,006.62.

Oil also gained on Friday, with prices posting their fourth consecutive weekly gain to steady around their highest in three months.

On Monday, global benchmark Brent crude was up 0.18&nbsp;per cent to $68.28 per barrel, while US&nbsp;West Texas Intermediate crude added 0.05% to $61.75, reversing an earlier decline.

Oil's gains followed news of US&nbsp;airstrikes in Iraq and Syria against Kataib Hezbollah, an Iran-backed militia group. US&nbsp;officials said Sunday that the attacks were successful, but warned that "additional actions" may be taken to defend US&nbsp;interests.

But Stephen Innes, strategist at AxiTrader, said that the rise of shale oil production in the United States would offset any geopolitical risks.

"Shale can really ramp up more volumes to accommodate any shortfall that could possibly be triggered by an escalation in Syria," he said, adding that an upsurge in populism in Iraq posed a larger risk to markets.

Iraq's oil ministry said on Sunday that the halting of oil production at Iraq's southern Nassiriya oilfield by protestors would not affect the country's exports and operations.

Oil prices were also supported by a bigger-than-expected decline in crude inventories in the United States, the world's biggest fuel consumer. Stockpiles fell by 5.5 million barrels in the week to December&nbsp;20, far exceeding a 1.7-million-barrel drop forecast in a Reuters poll, the government data showed on Friday.

Gold also continued its run-up, after posting its best week in more than four months on Friday amid thin trading volumes, in a sign that some investors continue to see risks to global growth and US-China trade.

The precious metal on Monday rose 0.33&nbsp;per cent to $1,515.40 per ounce on the spot market.

In the currency market, the dollar was 0.30&nbsp;per cent lower against the yen at 109.08 and the euro was up 0.27 per cent on the day at $1.1194.

The dollar index, which tracks the greenback against a basket of six major currencies, was down 0.2&nbsp;per cent &nbsp;to 96.736.

The yield on benchmark 10-year Treasury notes was at 1.8752 per cent &nbsp;compared with its US&nbsp;close of 1.873&nbsp;per cent &nbsp;on Friday, while the two-year yield edged down to 1.5832 per cent&nbsp;compared with a US&nbsp;close of 1.589 per cent .

A broad gauge of Asian share markets rose to the highest in 18 months on Monday as Chinese equities gained, while oil hovered near three-month highs on a combination of US crude inventory drawdowns, trade optimism and unrest in the Middle East.

A broad gauge of Asian share markets rose to the highest in 18 months on Monday as Chinese equities gained, while oil hovered near three-month highs on a combination of US crude inventory drawdowns, trade optimism and unrest in the Middle East. MSCI's broadest index of Asia-Pacific shares outside Japan was last up 0.2 per cent, turning around from an earlier loss. The index rose to its highest since June 19. Chinese blue chips, which had started the day lower, were up 1.24 per cent at the midday break, bolstered by a report that 2019 retail sales are forecast to rise 8 per cent and expectations that a new benchmark for floating-rate loans could lower borrowing costs and boost flagging economic growth. But Australian shares remained down 0.44 per cent as investors continued to consolidate recent gains. Japan's Nikkei stock index slid 0.58 per cent. Easing trade war worries and reduced uncertainty over the United Kingdom's plans to leave the European Union after British elections returned a strong Conservative majority have offered a lift to global equities this month, helping the broad MSCI Asia index rise more than 6 per cent and putting it on track for its strongest month since January. Kay Van-Petersen, a global macro strategist at Saxo Capital Markets, said that limited liquidity near the year-end and the easing of US-China trade and Brexit uncertainties has "just left us drifting up higher. So even if there is a pullback I don't think it's going to be significant by any means." Global equity markets gained late last week, with the S&P 500 and the Dow Jones Industrial Average closing at records on Friday. The Dow ended 0.08per cent higher at 28,645.26 and the S&P edged up just 0.11 points to 3,240.02. The Nasdaq Composite lost steam at the close, falling 0.17 per cent to 9,006.62. Oil also gained on Friday, with prices posting their fourth consecutive weekly gain to steady around their highest in three months. On Monday, global benchmark Brent crude was up 0.18 per cent to $68.28 per barrel, while US West Texas Intermediate crude added 0.05% to $61.75, reversing an earlier decline. Oil's gains followed news of US airstrikes in Iraq and Syria against Kataib Hezbollah, an Iran-backed militia group. US officials said Sunday that the attacks were successful, but warned that "additional actions" may be taken to defend US interests. But Stephen Innes, strategist at AxiTrader, said that the rise of shale oil production in the United States would offset any geopolitical risks. "Shale can really ramp up more volumes to accommodate any shortfall that could possibly be triggered by an escalation in Syria," he said, adding that an upsurge in populism in Iraq posed a larger risk to markets. Iraq's oil ministry said on Sunday that the halting of oil production at Iraq's southern Nassiriya oilfield by protestors would not affect the country's exports and operations. Oil prices were also supported by a bigger-than-expected decline in crude inventories in the United States, the world's biggest fuel consumer. Stockpiles fell by 5.5 million barrels in the week to December 20, far exceeding a 1.7-million-barrel drop forecast in a Reuters poll, the government data showed on Friday. Gold also continued its run-up, after posting its best week in more than four months on Friday amid thin trading volumes, in a sign that some investors continue to see risks to global growth and US-China trade. The precious metal on Monday rose 0.33 per cent to $1,515.40 per ounce on the spot market. In the currency market, the dollar was 0.30 per cent lower against the yen at 109.08 and the euro was up 0.27 per cent on the day at $1.1194. The dollar index, which tracks the greenback against a basket of six major currencies, was down 0.2 per cent to 96.736. The yield on benchmark 10-year Treasury notes was at 1.8752 per cent compared with its US close of 1.873 per cent on Friday, while the two-year yield edged down to 1.5832 per cent compared with a US close of 1.589 per cent .

Global Markets: China lifts Asian shares; oil up on drawdowns, Mideast tensions

<a href="https://www.wionews.com/business-economy/petrol-and-diesel-prices-go-down-for-the-fourth-consecutive-day-172553">Petrol and diesel prices</a> went up for the third consecutive day in the national capital and stood at Rs 75.04 and Rs 67.78 per liter, respectively on Monday.

As compared to yesterday, the petrol prices became costlier by 16 paise while diesel prices increased by 18 paise.

The retail price of fuel in India is dependent on global crude prices and the Rupee-US dollar exchange rate.

Petrol and diesel prices went up for the third consecutive day in the national capital and stood at Rs 75.04 and Rs 67.78 per liter, respectively on Monday. As compared to yesterday, the petrol prices became costlier by 16 paise while diesel prices increased by 18 paise.

Petrol and diesel prices went up for the third consecutive day in the national capital and stood at Rs 75.04 and Rs 67.78 per liter, respectively on Monday. As compared to yesterday, the petrol prices became costlier by 16 paise while diesel prices increased by 18 paise. The retail price of fuel in India is dependent on global crude prices and the Rupee-US dollar exchange rate.

Prices of petrol, diesel rise in national capital

The prices of vegetables, including onions, are likely to come down as new stocks of vegetables have arrived in the market.

In the past few weeks, the skyrocketing prices of the onion have left the consumers teary-eyed.

Its retail prices have reached Rs 200 per kilogram while the potato is selling for Rs 40 per kilogram in several parts of the country.

"The prices of onion will become normal within two months and people will not feel the pinch while buying it. The local onion is being sold for Rs 80-100 per kilogram while the onion exported from Turkey is being sold at Rs 50-60 per kilogram. This has helped in maintaining the balance of local onion prices. If the onions from Turkey were not available, then the prices of the local onion could go up to Rs 300-400 per kilogram," said Ankit Buddhiraja, a wholesale seller at Azadpur Mandi in the national capital.

Murli Yadav, another vegetable seller believes that spike in the prices of vegetables was due to monsoon season.

"Now the new crop has arrived from many parts of the country, it will help in reducing the prices of tomato, potato, cauliflower, capsicum, and other vegetables."The onion prices have been on the rise in many states of the country, and this has even sparked protests by the people.&nbsp; 
&nbsp;

The prices of vegetables, including onions, are likely to come down as new stocks of vegetables have arrived in the market. In the past few weeks, the skyrocketing prices of the onion have left the consumers teary-eyed.

The prices of vegetables, including onions, are likely to come down as new stocks of vegetables have arrived in the market. In the past few weeks, the skyrocketing prices of the onion have left the consumers teary-eyed. Its retail prices have reached Rs 200 per kilogram while the potato is selling for Rs 40 per kilogram in several parts of the country. "The prices of onion will become normal within two months and people will not feel the pinch while buying it. The local onion is being sold for Rs 80-100 per kilogram while the onion exported from Turkey is being sold at Rs 50-60 per kilogram. This has helped in maintaining the balance of local onion prices. If the onions from Turkey were not available, then the prices of the local onion could go up to Rs 300-400 per kilogram," said Ankit Buddhiraja, a wholesale seller at Azadpur Mandi in the national capital. Murli Yadav, another vegetable seller believes that spike in the prices of vegetables was due to monsoon season. "Now the new crop has arrived from many parts of the country, it will help in reducing the prices of tomato, potato, cauliflower, capsicum, and other vegetables."The onion prices have been on the rise in many states of the country, and this has even sparked protests by the people.

Onion, potato prices may fall in January 2020

Equity benchmark indices were buoyant during early hours on Friday in line with Asian markets as investors hoped that the <a href="https://www.wionews.com/world/trump-says-he-and-xi-jinping-will-sign-china-trade-deal-270340">US-China trade deal</a> will soon be signed.

At 10:15 am, the <a href="https://www.wionews.com/business-economy/sensex-falls-by-298-points-psu-banks-underperform-270367">BSE S&amp;P Sensex</a> was up by 195 points to 41,359 while the Nifty 50 edged higher by 54 points at 12,181.

Apart from Nifty IT and metal, all sectoral indices at the National Stock Exchange were in the green. Nifty PSU bank jumped by 2.62 per cent. Nifty financial service gained by half per cent while auto ticked up by 0.6 per cent.

Among stocks, State Bank of India rose by 2.12 per cent to Rs 336.85 per share while Yes Bank and Axis Bank moved up by 1.3 per cent and 1.1 per cent respectively. Index heavyweight Reliance Industries jumped by 1.2 per cent to Rs 1,533.70 per share.

The other prominent gainers were Zee Entertainment, Power Grid Corporation, Cipla, <a href="https://www.wionews.com/india-news/were-following-government-order-bharti-airtel-chairman-on-blocking-telecom-services-in-parts-of-delhi-269152">Bharti Airtel</a>, Adani Ports and UPL.

However, JSW Steel and Tata Steel traded with marginal losses like IT majors Tata Consultancy Services, Wipro and HCL Technologies. NTPC, Hindustan Lever and Bajaj Auto too were in the negative terrain.

Meanwhile, Asian shares jumped to an 18-month high as investor optimism was boosted by hopes that the US-China trade deal will soon be signed. Beijing said it is in close contact with Washington about an initial trade agreement.

MSCI`s broadest index of Asia Pacific shares outside Japan was up by 0.55 per cent while Japan`s Nikkei lay flat. <a href="https://www.wionews.com/business-economy/tokyo-stocks-open-slightly-lower-in-muted-trading-270098">Japan</a> has approved a record budget for the coming fiscal year in a bid to shore up growth.

Chinese shares were upbeat after Beijing laid out additional plans to bolster its economy, including infrastructure investments, with blue-chip CSI300 adding 0.56 per cent.

Equity benchmark indices were buoyant during early hours on Friday in line with Asian markets as investors hoped that the US-China trade deal will soon be signed.

Equity benchmark indices were buoyant during early hours on Friday in line with Asian markets as investors hoped that the US-China trade deal will soon be signed. At 10:15 am, the BSE S&P Sensex was up by 195 points to 41,359 while the Nifty 50 edged higher by 54 points at 12,181. Apart from Nifty IT and metal, all sectoral indices at the National Stock Exchange were in the green. Nifty PSU bank jumped by 2.62 per cent. Nifty financial service gained by half per cent while auto ticked up by 0.6 per cent. Among stocks, State Bank of India rose by 2.12 per cent to Rs 336.85 per share while Yes Bank and Axis Bank moved up by 1.3 per cent and 1.1 per cent respectively. Index heavyweight Reliance Industries jumped by 1.2 per cent to Rs 1,533.70 per share. The other prominent gainers were Zee Entertainment, Power Grid Corporation, Cipla, Bharti Airtel, Adani Ports and UPL. However, JSW Steel and Tata Steel traded with marginal losses like IT majors Tata Consultancy Services, Wipro and HCL Technologies. NTPC, Hindustan Lever and Bajaj Auto too were in the negative terrain. Meanwhile, Asian shares jumped to an 18-month high as investor optimism was boosted by hopes that the US-China trade deal will soon be signed. Beijing said it is in close contact with Washington about an initial trade agreement. MSCI`s broadest index of Asia Pacific shares outside Japan was up by 0.55 per cent while Japan`s Nikkei lay flat. Japan has approved a record budget for the coming fiscal year in a bid to shore up growth. Chinese shares were upbeat after Beijing laid out additional plans to bolster its economy, including infrastructure investments, with blue-chip CSI300 adding 0.56 per cent.

Equities trade higher on global cues, PSU banks rally

The Reserve Bank of India on Friday released its 'Financial Stability Report' and said that despite weakening domestic growth, India's financial system remains stable, news agency ANI reported.&nbsp;

The RBI stated that the banking sector's resilience has improved, however, "risks from global/domestic economic uncertainties and geopolitical developments persist".&nbsp;

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RBI releases Financial Stability Report. It states 'India’s financial system remains stable notwithstanding weakening domestic growth; resilience of banking sector has improved. Risks from global/domestic economic uncertainties &amp; geopolitical developments, however, persist' <a href="https://t.co/rUtFozRUUU">pic.twitter.com/rUtFozRUUU</a>
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Meanwhile, Union Home Minister Amit Shah on Friday said that India is witnessing the "<a href="https://www.wionews.com/india-news/india-is-witnessing-temporary-effects-of-global-slowdown-amit-shah-270648">temporary effects of a global slowdown</a>" and that Finance Minister Nirmala Sitharaman is working day and night to fight it.&nbsp;

"I believe the Indian economy will be the first to be free from the slowdown in the world," Shah said at an event today.&nbsp;

Shah's comments came while he was addressing investors at the first groundbreaking ceremony of Himachal Pradesh Global Investors Meet-2019 in Shimla, Himachal Pradesh.

Shah said the government was working to deal with the effect of the slowdown.

The minister said Finance Minister Nirmala Sitharaman and her deputy Anurag Thakur were working on working are on various plans to fight with this global slowdown under the leadership of Prime Minister Narendra Modi.

(With inputs from ANI)&nbsp;

The Reserve Bank of India on Friday released its 'Financial Stability Report' and said that despite weakening domestic growth, India's financial system remains stable, news agency ANI reported.

The Reserve Bank of India on Friday released its 'Financial Stability Report' and said that despite weakening domestic growth, India's financial system remains stable, news agency ANI reported. The RBI stated that the banking sector's resilience has improved, however, "risks from global/domestic economic uncertainties and geopolitical developments persist". RBI releases Financial Stability Report. It states 'India’s financial system remains stable notwithstanding weakening domestic growth; resilience of banking sector has improved. Risks from global/domestic economic uncertainties & geopolitical developments, however, persist' pic.twitter.com/rUtFozRUUU — ANI (@ANI) December 27, 2019 × Meanwhile, Union Home Minister Amit Shah on Friday said that India is witnessing the "temporary effects of a global slowdown" and that Finance Minister Nirmala Sitharaman is working day and night to fight it. "I believe the Indian economy will be the first to be free from the slowdown in the world," Shah said at an event today. Shah's comments came while he was addressing investors at the first groundbreaking ceremony of Himachal Pradesh Global Investors Meet-2019 in Shimla, Himachal Pradesh. Shah said the government was working to deal with the effect of the slowdown. The minister said Finance Minister Nirmala Sitharaman and her deputy Anurag Thakur were working on working are on various plans to fight with this global slowdown under the leadership of Prime Minister Narendra Modi. (With inputs from ANI)

India's financial system stable despite weakening domestic growth: RBI

Equity benchmark indices snapped a three-day losing streak on Friday following gains in global peers over the signing of US-China trade deal.

The gains domestically were broad-based with most sectoral indices in the green led by banking, auto, financial services and energy stocks.

The BSE S&amp;P Sensex closed 411 points higher at 41,575 while the Nifty 50 edged up by 119 points at 12,246.

All sectoral indices at the National Stock Exchange were in the green with Nifty PSU bank moving up by 2.92 per cent, private bank by 1.13 per cent, financial service by 1.07 per cent and realty by 1.61 per cent.

Public sector banking stocks closed higher after the Reserve Bank of India said that it will purchase 10-year bonds worth Rs 10,000 crore while simultaneously selling four bonds maturing in 2020 for up to the same amount on December 30 in the open market.

State Bank of India gained by 2.23 per cent to close at Rs 337.20 per share. Private lenders Axis Bank and ICICI Bank also added gains of 3.3 per cent and 2 per cent respectively.

The other prominent winners were Coal India, Bharat Petroleum Corporation, Power Grid Corporation, Bharti Airtel and Reliance Industries.

However, Yes Bank and Kotak Mahindra Bank fell by 1.4 per cent and 0.3 per cent respectively. Wipro, Bharti Infratel, Britannia, Titan and JSW Steel too closed in the negative terrain.

Meanwhile, Asian shares jumped to an 18-month high as investor optimism was boosted by hopes that the US-China trade deal will soon be signed. Beijing said it is in close contact with Washington about an initial trade agreement.

Hong Kong's Hang Seng index was up by 1.3 per cent and South Korea's Kospi by 0.29 per cent. But Japan's Nikkei closed 0.36 per cent lower and Shanghai Composite slipped by 0.08 per cent.

Equity benchmark indices snapped a three-day losing streak on Friday following gains in global peers over the signing of US-China trade deal. The gains domestically were broad-based with most sectoral indices in the green led by banking, auto, financial services and energy stocks.

Equity benchmark indices snapped a three-day losing streak on Friday following gains in global peers over the signing of US-China trade deal. The gains domestically were broad-based with most sectoral indices in the green led by banking, auto, financial services and energy stocks. The BSE S&P Sensex closed 411 points higher at 41,575 while the Nifty 50 edged up by 119 points at 12,246. All sectoral indices at the National Stock Exchange were in the green with Nifty PSU bank moving up by 2.92 per cent, private bank by 1.13 per cent, financial service by 1.07 per cent and realty by 1.61 per cent. Public sector banking stocks closed higher after the Reserve Bank of India said that it will purchase 10-year bonds worth Rs 10,000 crore while simultaneously selling four bonds maturing in 2020 for up to the same amount on December 30 in the open market. State Bank of India gained by 2.23 per cent to close at Rs 337.20 per share. Private lenders Axis Bank and ICICI Bank also added gains of 3.3 per cent and 2 per cent respectively. The other prominent winners were Coal India, Bharat Petroleum Corporation, Power Grid Corporation, Bharti Airtel and Reliance Industries. However, Yes Bank and Kotak Mahindra Bank fell by 1.4 per cent and 0.3 per cent respectively. Wipro, Bharti Infratel, Britannia, Titan and JSW Steel too closed in the negative terrain. Meanwhile, Asian shares jumped to an 18-month high as investor optimism was boosted by hopes that the US-China trade deal will soon be signed. Beijing said it is in close contact with Washington about an initial trade agreement. Hong Kong's Hang Seng index was up by 1.3 per cent and South Korea's Kospi by 0.29 per cent. But Japan's Nikkei closed 0.36 per cent lower and Shanghai Composite slipped by 0.08 per cent.

Sensex closes 411 points higher, PSU bank index surges 3 per cent on capital infusion

Equity benchmark indices closed 0.7 per cent lower on Thursday, dragged by public sector banks, ahead of the expiry of December series futures and options (F&amp;O) contracts.

At the closing bell, the BSE S&amp;P Sensex was down by 298 points to 41,164 while the Nifty 50 slipped by 88 points at 12,127.

Except for Nifty metal and media, all sectoral indices at the National Stock Exchange were in the red. Nifty PSU bank dropped by 1.44 per cent, pharma by 0.97 per cent, IT by 0.45 per cent and FMCG by 0.44 per cent. Nifty metal, however, moved up by 0.58 per cent.

Among stocks, government-owned Oriental Bank of Commerce fell by 4.2 per cent, Punjab National Bank by 1.3 per cent and State Bank of India by 0.3 per cent.

Private lender Yes Bank too dragged down by 4.4 per cent at Rs 48.95 per share after a rating downgrade by Brickwork.

Telecom major Bharti Airtel and index heavyweight Reliance Industries closed 1.9 per cent lower while Sun Pharma dived by 1.8 per cent and Adani Ports by 1.7 per cent.

However, ONGC closed 2.5 per cent higher at Rs 129.15 per share. Metal majors were on a high with Vedanta moving up by 1.9 per cent at Rs 150.90 per share, JSW Steel by 1 per cent and Tata Steel by 0.9 per cent. NTPC, Coal India, Eicher Motors and Asian Paints too closed in the green.

Meanwhile, Asian stock markets were in the positive zone following Christmas Day. The Shanghai Composite was up by 0.85 per cent and the Nikkei 225 in Japan was 0.6 per cent higher. South Korea`s Kospi ticked up by 0.36 per cent but Hong Kong`s Hang Seng fell by 0.15 per cent. 
&nbsp;

Equity benchmark indices closed 0.7 per cent lower on Thursday, dragged by public sector banks, ahead of the expiry of December series futures and options (F&O) contracts.

Equity benchmark indices closed 0.7 per cent lower on Thursday, dragged by public sector banks, ahead of the expiry of December series futures and options (F&O) contracts. At the closing bell, the BSE S&P Sensex was down by 298 points to 41,164 while the Nifty 50 slipped by 88 points at 12,127. Except for Nifty metal and media, all sectoral indices at the National Stock Exchange were in the red. Nifty PSU bank dropped by 1.44 per cent, pharma by 0.97 per cent, IT by 0.45 per cent and FMCG by 0.44 per cent. Nifty metal, however, moved up by 0.58 per cent. Among stocks, government-owned Oriental Bank of Commerce fell by 4.2 per cent, Punjab National Bank by 1.3 per cent and State Bank of India by 0.3 per cent. Private lender Yes Bank too dragged down by 4.4 per cent at Rs 48.95 per share after a rating downgrade by Brickwork. Telecom major Bharti Airtel and index heavyweight Reliance Industries closed 1.9 per cent lower while Sun Pharma dived by 1.8 per cent and Adani Ports by 1.7 per cent. However, ONGC closed 2.5 per cent higher at Rs 129.15 per share. Metal majors were on a high with Vedanta moving up by 1.9 per cent at Rs 150.90 per share, JSW Steel by 1 per cent and Tata Steel by 0.9 per cent. NTPC, Coal India, Eicher Motors and Asian Paints too closed in the green. Meanwhile, Asian stock markets were in the positive zone following Christmas Day. The Shanghai Composite was up by 0.85 per cent and the Nikkei 225 in Japan was 0.6 per cent higher. South Korea`s Kospi ticked up by 0.36 per cent but Hong Kong`s Hang Seng fell by 0.15 per cent.

Sensex falls by 298 points, PSU banks underperform

<a href="https://www.wionews.com/world/boeing-ceo-muilenburg-steps-down-calhoun-to-take-over-duties-starting-january-269812">Boeing</a>&nbsp;Co&nbsp;documents&nbsp;under review by a&nbsp;US&nbsp;congressional panel appear to point to a "very disturbing" picture of commentary from the planemaker's&nbsp;employees over the grounded&nbsp;<a href="https://www.wionews.com/opinions/wion-edit-the-fall-of-brand-boeing-268899">737&nbsp;MAX&nbsp;aircraft</a>, a congressional&nbsp;aide&nbsp;said on Tuesday.

The&nbsp;documents&nbsp;were submitted to the&nbsp;House&nbsp;of Representatives transportation infrastructure committee and the Federal Aviation Administration on Monday, the same day&nbsp;Boeing&nbsp;announced the firing of chief executive Dennis Muilenburg amid a crisis over the handling of the aftermath of two fatal crashes.

Also Watch:&nbsp;Boeing CEO Dennis Muilenburg Resigns

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The best-selling&nbsp;737&nbsp;MAX&nbsp;has been grounded since March. The <a href="https://www.wionews.com/world/boeing-suspends-production-of-737-max-model-after-two-crashes-268607">crashes</a> in Indonesia and Ethiopia within five months killed 346 people.

"Similar to other records previously disclosed by&nbsp;Boeing, the records appear to point to a very disturbing picture of both&nbsp;concerns&nbsp;expressed by&nbsp;Boeing&nbsp;employees about the company’s commitment to safety and efforts by some&nbsp;employees" to make sure&nbsp;Boeing’s production plans were not disrupted, said the&nbsp;aide, who spoke on condition of anonymity.

Boeing&nbsp;said in a statement that it "proactively brought these communications to the FAA and Congress as part of our commitment to transparency with our regulators and the oversight committees."

The tone and content "does not reflect the company we are and need to be,"&nbsp;Boeing&nbsp;said.

"We have made <a href="https://www.wionews.com/business-economy/new-boeing-boss-david-calhoun-is-a-tough-minded-veteran-of-crisis-269920">significant changes</a> as a company in the past nine months to enhance our safety processes, organizations, and culture."

The company said on Monday that&nbsp;Boeing&nbsp;board chairman <a href="https://www.wionews.com/world/boeing-ousts-airliner-chief-as-737-max-crisis-grows-257742">David Calhoun</a>, 62, a former General Electric executive who has been on the board since 2009 would take over from Muilenburg as CEO and president from January&nbsp;13.

The latest batch of&nbsp;documents&nbsp;submitted to the FAA contained instant messages from a former&nbsp;Boeing&nbsp;senior pilot, Mark Forkner, according to a person briefed on the matter.

In October,&nbsp;Boeing&nbsp;turned over 2016 messages to the FAA between Forkner and another pilot that said he might have unintentionally misled the&nbsp;US&nbsp;regulator and raised questions about the performance of a key safety system during testing.

Boeing&nbsp;had earlier turned over the&nbsp;documents&nbsp;to the Justice Department, which has an active criminal investigation underway into matters related to the&nbsp;737&nbsp;MAX&nbsp;plane.

Boeing&nbsp;is struggling to mend relations with&nbsp;US&nbsp;and international regulators it needs to win over to get the jet back in the air.

Boeing&nbsp;shares, which have dropped more than 20 per cent&nbsp;over the past nine months, closed down 1.3 per cent&nbsp;to $333 on Tuesday.

Boeing Co documents under review by a US congressional panel appear to point to a "very disturbing" picture of commentary from the planemaker's employees over the grounded 737 MAX aircraft, a congressional aide said on Tuesday.

Boeing Co documents under review by a US congressional panel appear to point to a "very disturbing" picture of commentary from the planemaker's employees over the grounded 737 MAX aircraft, a congressional aide said on Tuesday. The documents were submitted to the House of Representatives transportation infrastructure committee and the Federal Aviation Administration on Monday, the same day Boeing announced the firing of chief executive Dennis Muilenburg amid a crisis over the handling of the aftermath of two fatal crashes. Also Watch: Boeing CEO Dennis Muilenburg Resigns × The best-selling 737 MAX has been grounded since March. The crashes in Indonesia and Ethiopia within five months killed 346 people. "Similar to other records previously disclosed by Boeing, the records appear to point to a very disturbing picture of both concerns expressed by Boeing employees about the company’s commitment to safety and efforts by some employees" to make sure Boeing’s production plans were not disrupted, said the aide, who spoke on condition of anonymity. Boeing said in a statement that it "proactively brought these communications to the FAA and Congress as part of our commitment to transparency with our regulators and the oversight committees." The tone and content "does not reflect the company we are and need to be," Boeing said. "We have made significant changes as a company in the past nine months to enhance our safety processes, organizations, and culture." The company said on Monday that Boeing board chairman David Calhoun, 62, a former General Electric executive who has been on the board since 2009 would take over from Muilenburg as CEO and president from January 13. The latest batch of documents submitted to the FAA contained instant messages from a former Boeing senior pilot, Mark Forkner, according to a person briefed on the matter. In October, Boeing turned over 2016 messages to the FAA between Forkner and another pilot that said he might have unintentionally misled the US regulator and raised questions about the performance of a key safety system during testing. Boeing had earlier turned over the documents to the Justice Department, which has an active criminal investigation underway into matters related to the 737 MAX plane. Boeing is struggling to mend relations with US and international regulators it needs to win over to get the jet back in the air. Boeing shares, which have dropped more than 20 per cent over the past nine months, closed down 1.3 per cent to $333 on Tuesday.

US House Aide: New Boeing 737 MAX documents show 'very disturbing' employee concerns

Uber co-founder Travis Kalanick has finally left the company that he created. Kalanick was the CEO of uber until 2017. A string of scandals in the company forced him to step down.

But — he is not leaving empty-handed. He has sold more than two billion dollars worth of Uber shares.

Founders of big tech companies leaving their creations to build bigger empires and this are more common than you'd imagine.

There is a growing tribe of seasoned entrepreneurs — who exited the businesses they built. They have either become investors or opened new businesses. Some big players are dabbling in both arenas.

Either way — the start-up revolution around the world has given birth to a new league of billionaires.

Kalanick created the biggest taxi aggregator on the planet. But — Travis became kryptonite for Uber.

He had to step down as CEO of Uber in June 2017. This was after a series of privacy scandals — complaints of discrimination — and sexual harassment had hit the company.

Two years later — Kalanick is severing his last remaining tie with the company he created. He will step down from the board of directors of Uber by the end of this year.

But, Uber made Travis Kalanick a billionaire. He was the biggest individual shareholder of this company. Since his departure — Kalanick has been actively selling his stake. The report says he has already sold more than two billion dollars worth of shares.

Kalanick started another startup — that operates cooking facilities to prepare food for delivery.

Kalanick is not the first to follow this playbook. Steve jobs started next — after his unceremonious exit from apple.

He was also a majority stakeholder in Pixar — the animation studio that created movies like toy story, finding Nemo and wall-e.

Of course, jobs later made a come back at the apple. He sold Pixar to Disney — next was acquired by apple.

Sachin and Binny Bansal too left the unicorn they created. Both of them sold Flipkart to Walmart in 2018.

Sachin Bansal left the company the moment it was acquired. Binny Bansal was forced to resign after an unproven allegation of personal misconduct emerged.

But both the founders were quick to make a comeback. Sachin Bansal made a slew of investments in startups and established players.

According to one report — he has made 18 investments in multiple companies since his departure from Flipkart.

Binny Bansal too is stepping up his investments. Earlier this year — reports claimed that he was launching his venture capital fund.

Plans for a mentoring organisation for startups are also in the pipeline.

Uber co-founder Travis Kalanick has finally left the company that he created. Kalanick was the CEO of uber until 2017. A string of scandals in the company forced him to step down.

Uber co-founder Travis Kalanick has finally left the company that he created. Kalanick was the CEO of uber until 2017. A string of scandals in the company forced him to step down. But — he is not leaving empty-handed. He has sold more than two billion dollars worth of Uber shares. Founders of big tech companies leaving their creations to build bigger empires and this are more common than you'd imagine. There is a growing tribe of seasoned entrepreneurs — who exited the businesses they built. They have either become investors or opened new businesses. Some big players are dabbling in both arenas. Either way — the start-up revolution around the world has given birth to a new league of billionaires. Kalanick created the biggest taxi aggregator on the planet. But — Travis became kryptonite for Uber. He had to step down as CEO of Uber in June 2017. This was after a series of privacy scandals — complaints of discrimination — and sexual harassment had hit the company. Two years later — Kalanick is severing his last remaining tie with the company he created. He will step down from the board of directors of Uber by the end of this year. But, Uber made Travis Kalanick a billionaire. He was the biggest individual shareholder of this company. Since his departure — Kalanick has been actively selling his stake. The report says he has already sold more than two billion dollars worth of shares. Kalanick started another startup — that operates cooking facilities to prepare food for delivery. Kalanick is not the first to follow this playbook. Steve jobs started next — after his unceremonious exit from apple. He was also a majority stakeholder in Pixar — the animation studio that created movies like toy story, finding Nemo and wall-e. Of course, jobs later made a come back at the apple. He sold Pixar to Disney — next was acquired by apple. Sachin and Binny Bansal too left the unicorn they created. Both of them sold Flipkart to Walmart in 2018. Sachin Bansal left the company the moment it was acquired. Binny Bansal was forced to resign after an unproven allegation of personal misconduct emerged. But both the founders were quick to make a comeback. Sachin Bansal made a slew of investments in startups and established players. According to one report — he has made 18 investments in multiple companies since his departure from Flipkart. Binny Bansal too is stepping up his investments. Earlier this year — reports claimed that he was launching his venture capital fund. Plans for a mentoring organisation for startups are also in the pipeline.

Start-up revolution: New age billionaires leaving boardrooms to focus on new business

Tokyo stocks opened marginally lower on Wednesday in the absence of foreign investors for the Christmas holidays, after US shares finished a sleepy holiday-shortened session mostly lower.

The benchmark Nikkei 225 index slid 0.03 per cent or 7.15 points to 23,823.43 in early trade, while the broader Topix index was down 0.03 per cent or 0.45 points at 1,727.77.

"After the US market ended mixed, the Japanese market is seen moving range-bound," Toshiyuki Kanayama, senior market analyst at Monex, said in a note.

Tokyo trade is "dominated by a wait-and-see attitude as US trade is closed for the Christmas holiday this evening," he said.

On Wall Street on Tuesday, the broad S&amp;P 500 slipped a hair, and the benchmark Dow dipped 0.1 per cent, but the Nasdaq, with a 0.1 per cent gain, posted another all-time high.

The dollar fetched 109.38 yen in early Asian trade, unchanged from the level in New York late Tuesday.

In Tokyo, automakers were among losers, with Toyota slipping 0.50 per cent to 7,702 yen, Honda trading off 0.35 per cent at 3,117 yen, Mitsubishi Motors down 0.43 per cent at 461 and Mazda down 1.06 per cent at 933.

Nissan dipped 1.57 per cent to 643.3 yen after the leading business daily Nikkei said its vice chief operating officer who is a key figure in restructuring the scandal-hit automaker will leave the company to join components maker Nidec as soon as February.

A source at Nissan who declined to be named confirmed the report was true, while a Nidec spokesman declined to comment.

Nidec was trading 0.26 per cent lower at 15,065 yen.

Elsewhere, Sony slid 0.28 per cent to 7,385 yen and Panasonic was down 0.53 per cent at 1,016.5 yen. 
&nbsp;

Tokyo stocks opened marginally lower on Wednesday in the absence of foreign investors for the Christmas holidays, after US shares finished a sleepy holiday-shortened session mostly lower.

Tokyo stocks opened marginally lower on Wednesday in the absence of foreign investors for the Christmas holidays, after US shares finished a sleepy holiday-shortened session mostly lower. The benchmark Nikkei 225 index slid 0.03 per cent or 7.15 points to 23,823.43 in early trade, while the broader Topix index was down 0.03 per cent or 0.45 points at 1,727.77. "After the US market ended mixed, the Japanese market is seen moving range-bound," Toshiyuki Kanayama, senior market analyst at Monex, said in a note. Tokyo trade is "dominated by a wait-and-see attitude as US trade is closed for the Christmas holiday this evening," he said. On Wall Street on Tuesday, the broad S&P 500 slipped a hair, and the benchmark Dow dipped 0.1 per cent, but the Nasdaq, with a 0.1 per cent gain, posted another all-time high. The dollar fetched 109.38 yen in early Asian trade, unchanged from the level in New York late Tuesday. In Tokyo, automakers were among losers, with Toyota slipping 0.50 per cent to 7,702 yen, Honda trading off 0.35 per cent at 3,117 yen, Mitsubishi Motors down 0.43 per cent at 461 and Mazda down 1.06 per cent at 933. Nissan dipped 1.57 per cent to 643.3 yen after the leading business daily Nikkei said its vice chief operating officer who is a key figure in restructuring the scandal-hit automaker will leave the company to join components maker Nidec as soon as February. A source at Nissan who declined to be named confirmed the report was true, while a Nidec spokesman declined to comment. Nidec was trading 0.26 per cent lower at 15,065 yen. Elsewhere, Sony slid 0.28 per cent to 7,385 yen and Panasonic was down 0.53 per cent at 1,016.5 yen.

Tokyo stocks open slightly lower in muted trading

Asian shares edged lower and US&nbsp;stock futures darted in and out of losses on Tuesday, as the holiday lull offset optimism that a US China trade deal will boost exports and corporate earnings.

MSCI's broadest index of <a href="https://www.wionews.com/business-economy/asia-pacific-private-equity-india-and-china-lead-deals-but-fund-raising-slowing-203978">Asia-Pacific</a> shares outside Japan was down 0.14 per cent.

Blue-chip shares in China rose 0.37per cent&nbsp;after Premier <a href="https://www.wionews.com/business-economy/china-premier-li-keqiang-warns-us-against-trade-war-13404">Li Keqiang</a> said on Monday the government was considering more measures to lower corporate financing costs.

Australian shares rose 0.13 per cent, while South Korean shares fell 0.54 per cent. Japan's Nikkei nudged 0.04 per cent higher.

Sterling traded near a four-week low versus the euro and a three-week trough against the dollar on growing doubts over how Britain will navigate the transition period for its exit from the European Union.

Oil prices held steady before data on US&nbsp;crude inventories later on Tuesday, but there are signs that recent supply cuts may not last after Russia's energy minister said oil producers could ease output restrictions in March.

Wall Street's main indexes posted record closing highs on Monday after US&nbsp;President <a href="https://www.wionews.com/opinions/donald-trumps-attitude-towards-india-unpredictable-unreliable-238560">Donald Trump</a> said an initial US-China trade pact would be signed soon.

A de-escalation of a trade conflict between the world's two largest economies is a positive for companies that feed global supply chains, but some investors want to wait until next year to see how long the current thaw in Sino-US&nbsp;relations lasts.

"Risks to the outlook receded this year, which supported financial markets, but we cannot say the same thing about next year," said Hiroshi Miyazaki, senior economist at Mitsubishi UFJ Morgan Stanley Securities in Tokyo.

"No one can predict what will happen with US-China relations, and the US&nbsp;still has some tariffs on Chinese goods in place."

Trading is expected to be subdued as many financial markets will start closing from Tuesday for the Christmas holidays.

US&nbsp;stock futures rose 0.04 per cent after the S&amp;P 500 gained 0.09&nbsp;per cent and the Dow Jones Industrial Average rose 0.34&nbsp;per cent&nbsp;on Monday.

Shares of Boeing Co gave the Dow a boost after the planemaker ousted its chief executive officer over a prolonged crisis following two fatal crashes of its best-selling <a href="https://www.wionews.com/business-economy/financial-hit-from-737-max-will-not-slow-appetite-for-services-deals-boeing-ceo-dennis-muilenburg-246131">737 MAX jetliner</a>.

Equity investors got a rare double dose of positive news earlier this month when Washington and Beijing agreed a preliminary deal to avoid additional US&nbsp;tariffs on Chinese goods and a British general election gave the ruling Conservative Party a free hand to enact its Brexit agenda.

However, currency markets shows some investors remain circumspect, because new problems with trade friction and Brexit could easily emerge next year.

Against the euro, sterling was quoted at 85.66 pence, close to its lowest since November&nbsp;22. The pound traded at $1.2946, close to its lowest since December 2.

Sterling has given up all the gains it made immediately after the British general election on December&nbsp;12.

Spot gold rose 0.3&nbsp;per cent&nbsp;to $1,490.30 per ounce. Earlier in the day, prices hit their highest since November&nbsp;7, in another sign that some investors remain wary of risk.

In the onshore market, China's yuan reversed early losses to trade at 7.0115 per dollar.

China's government is considering broad-based and "targeted" cuts in banks' reserve requirement ratio to lower financing costs for small firms, the country's premier said on Monday, showing policymakers remain under pressure to counter an economic slowdown.

US&nbsp;crude ticked up 0.12 per cent&nbsp;to $60.61 a barrel, and Brent crude rose 0.24 per cent&nbsp;to $66.55 per barrel.

OPEC and other leading oil producers may consider easing oil output restrictions at their meeting in March, Russian Energy Minister Alexander Novak said in an interview aired on Monday.

Asian shares edged lower and US stock futures darted in and out of losses on Tuesday, as the holiday lull offset optimism that a US China trade deal will boost exports and corporate earnings.

Asian shares edged lower and US stock futures darted in and out of losses on Tuesday, as the holiday lull offset optimism that a US China trade deal will boost exports and corporate earnings. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.14 per cent. Blue-chip shares in China rose 0.37per cent after Premier Li Keqiang said on Monday the government was considering more measures to lower corporate financing costs. Australian shares rose 0.13 per cent, while South Korean shares fell 0.54 per cent. Japan's Nikkei nudged 0.04 per cent higher. Sterling traded near a four-week low versus the euro and a three-week trough against the dollar on growing doubts over how Britain will navigate the transition period for its exit from the European Union. Oil prices held steady before data on US crude inventories later on Tuesday, but there are signs that recent supply cuts may not last after Russia's energy minister said oil producers could ease output restrictions in March. Wall Street's main indexes posted record closing highs on Monday after US President Donald Trump said an initial US-China trade pact would be signed soon. A de-escalation of a trade conflict between the world's two largest economies is a positive for companies that feed global supply chains, but some investors want to wait until next year to see how long the current thaw in Sino-US relations lasts. "Risks to the outlook receded this year, which supported financial markets, but we cannot say the same thing about next year," said Hiroshi Miyazaki, senior economist at Mitsubishi UFJ Morgan Stanley Securities in Tokyo. "No one can predict what will happen with US-China relations, and the US still has some tariffs on Chinese goods in place." Trading is expected to be subdued as many financial markets will start closing from Tuesday for the Christmas holidays. US stock futures rose 0.04 per cent after the S&P 500 gained 0.09 per cent and the Dow Jones Industrial Average rose 0.34 per cent on Monday. Shares of Boeing Co gave the Dow a boost after the planemaker ousted its chief executive officer over a prolonged crisis following two fatal crashes of its best-selling 737 MAX jetliner. Equity investors got a rare double dose of positive news earlier this month when Washington and Beijing agreed a preliminary deal to avoid additional US tariffs on Chinese goods and a British general election gave the ruling Conservative Party a free hand to enact its Brexit agenda. However, currency markets shows some investors remain circumspect, because new problems with trade friction and Brexit could easily emerge next year. Against the euro, sterling was quoted at 85.66 pence, close to its lowest since November 22. The pound traded at $1.2946, close to its lowest since December 2. Sterling has given up all the gains it made immediately after the British general election on December 12. Spot gold rose 0.3 per cent to $1,490.30 per ounce. Earlier in the day, prices hit their highest since November 7, in another sign that some investors remain wary of risk. In the onshore market, China's yuan reversed early losses to trade at 7.0115 per dollar. China's government is considering broad-based and "targeted" cuts in banks' reserve requirement ratio to lower financing costs for small firms, the country's premier said on Monday, showing policymakers remain under pressure to counter an economic slowdown. US crude ticked up 0.12 per cent to $60.61 a barrel, and Brent crude rose 0.24 per cent to $66.55 per barrel. OPEC and other leading oil producers may consider easing oil output restrictions at their meeting in March, Russian Energy Minister Alexander Novak said in an interview aired on Monday.

Asia stocks ease slightly as doubts about risk factors linger

Chinese Premier<a href="https://www.wionews.com/business-economy/china-premier-li-keqiang-warns-us-against-trade-war-13404"> Li Keqiang</a> signaled plans to free up more cash for the country's banking system in a bid to boost lending to small businesses as leaders look to kick start the world's number two economy.

Li flagged a fresh cut to the amount of cash lenders must keep in reserve, according to state news agency Xinhua, in the latest move to ramp up stuttering growth.

The comments from Li came as he visited a bank in Chengdu a day before Tuesday's trilateral summit with the leaders of South Korea and Japan in the southwestern city.

Li said he was "very concerned about the financing of small and micro-businesses" and the government will "increase support for small and medium-sized banks" that directly serve these businesses, Xinhua reported.

The government "will further study measures" such as reducing the reserve requirement ratio and ways to reduce financing costs and interest rates "to significantly ease the financing difficulty and high cost".

It has been a tough year for <a href="https://www.wionews.com/opinions/the-dilemmas-of-chinas-economic-rise-170616">China's economy</a>, which is expanding at its weakest rate for three decades as it is buffeted by a long-running trade war with the United States as well as a slowdown in global demand for its goods.

However, recent data has pointed to a mild improvement in some areas of the economy, while a mini trade deal with the US that will see the rolling back of some tariffs should ease some of the pressure on growth.

Analysts have predicted Beijing will have to lend more support to boost growth next year, with Nomura saying authorities will have to "continue rolling out moderate easing measures".

Beijing already slashed the reserve requirement ratio for banks in October, which freed up about $126 billion to boost lending to mostly small and medium enterprises.

Li's remarks came a day after China's cabinet, unveiled measures to support private companies by further opening up major industries to non-state firms and putting in place mechanisms that would give them the same regulatory treatment.

Also on Monday, Beijing said it would cut import tariffs on more than 850 products from January, including frozen pork, cheese, pharmaceuticals and parts for manufacturing <a href="https://www.wionews.com/science-tech/chinas-transsion-holdings-to-soon-launch-tecno-smartphones-in-india-14636">smartphones</a>.

Analysts said the move was an indication of China's desire to show it is opening up after this month's mini-deal with the US to reduce some levies and work towards a wider pact.

Chinese Premier Li Keqiang signaled plans to free up more cash for the country's banking system in a bid to boost lending to small businesses as leaders look to kick start the world's number two economy.

Chinese Premier Li Keqiang signaled plans to free up more cash for the country's banking system in a bid to boost lending to small businesses as leaders look to kick start the world's number two economy. Li flagged a fresh cut to the amount of cash lenders must keep in reserve, according to state news agency Xinhua, in the latest move to ramp up stuttering growth. The comments from Li came as he visited a bank in Chengdu a day before Tuesday's trilateral summit with the leaders of South Korea and Japan in the southwestern city. Li said he was "very concerned about the financing of small and micro-businesses" and the government will "increase support for small and medium-sized banks" that directly serve these businesses, Xinhua reported. The government "will further study measures" such as reducing the reserve requirement ratio and ways to reduce financing costs and interest rates "to significantly ease the financing difficulty and high cost". It has been a tough year for China's economy, which is expanding at its weakest rate for three decades as it is buffeted by a long-running trade war with the United States as well as a slowdown in global demand for its goods. However, recent data has pointed to a mild improvement in some areas of the economy, while a mini trade deal with the US that will see the rolling back of some tariffs should ease some of the pressure on growth. Analysts have predicted Beijing will have to lend more support to boost growth next year, with Nomura saying authorities will have to "continue rolling out moderate easing measures". Beijing already slashed the reserve requirement ratio for banks in October, which freed up about $126 billion to boost lending to mostly small and medium enterprises. Li's remarks came a day after China's cabinet, unveiled measures to support private companies by further opening up major industries to non-state firms and putting in place mechanisms that would give them the same regulatory treatment. Also on Monday, Beijing said it would cut import tariffs on more than 850 products from January, including frozen pork, cheese, pharmaceuticals and parts for manufacturing smartphones. Analysts said the move was an indication of China's desire to show it is opening up after this month's mini-deal with the US to reduce some levies and work towards a wider pact.

China set to boost lending to small businesses to kick start economy

<a href="https://www.wionews.com/business-economy/sensex-hits-all-time-high-of-41798-nifty-at-a-record-peak-of-12272-269276">Indian&nbsp;shares</a>&nbsp;were little changed on Tuesday as investors stayed on the sidelines for a second straight session ahead of the Christmas holiday, while&nbsp;Yes&nbsp;Bank&nbsp;and&nbsp;Indiabulls&nbsp;Real&nbsp;Estate&nbsp;gained.

Indian&nbsp;stock indexes hit record intraday highs on Friday, but with just a handful of trading days remaining in 2019, markets have since remained subdued due to a lack of significant drivers.

Optimism that a <a href="https://www.wionews.com/world/phase-one-trade-deal-with-china-would-be-signed-very-shortly-donald-trump-269576">US-China trade deal</a> would revive exports and boost corporate earnings helped Wall Street&nbsp;rise&nbsp;to record closing highs on Monday, but <a href="https://www.wionews.com/business-economy/asian-shares-near-18-month-high-bask-in-trade-deal-afterglow-269696">Asian&nbsp;shares</a>&nbsp;darted in and out of losses on Tuesday amid a holiday lull.

The Nifty was up 0.03 per cent&nbsp;at 12,266.60 by 0434 GMT, while the Sensex ticked up 0.02 per cent to 41,648.96.

"The Nifty is&nbsp;likely to stay range bound between 12,150 to 12,350 zones while stock specific action is&nbsp;likely to continue in near term," analysts at Motilal Oswal wrote in a report.

On the <a href="https://www.wionews.com/business-economy/nifty-sensex-end-flat-ahead-on-holidays-psu-banks-offset-auto-gains-269730">Nifty</a> 100 index, Zee Entertainment Enterprises Ltd was the top gainer with a 2.4 per cent&nbsp;rise, while HCL Technologies Ltd fell the most.

Shares&nbsp;in&nbsp;<a href="https://www.wionews.com/business-economy/nifty-sensex-end-higher-it-auto-stocks-gain-269174">Yes&nbsp;Bank</a>, down 26 per cent&nbsp;so far this month amid uncertainty over its plans to raise more capital, rose as much as 3.2 per cent.

Indiabulls&nbsp;Real&nbsp;Estate's stock climbed 1.4 per cent. The company announced plans late on Sunday to sell commercial assets to Blackstone Group for 8.1 billion rupees ($114 million).

Indian shares were little changed on Tuesday as investors stayed on the sidelines for a second straight session ahead of the Christmas holiday, while Yes Bank and Indiabulls Real Estate gained.

Indian shares were little changed on Tuesday as investors stayed on the sidelines for a second straight session ahead of the Christmas holiday, while Yes Bank and Indiabulls Real Estate gained. Indian stock indexes hit record intraday highs on Friday, but with just a handful of trading days remaining in 2019, markets have since remained subdued due to a lack of significant drivers. Optimism that a US-China trade deal would revive exports and boost corporate earnings helped Wall Street rise to record closing highs on Monday, but Asian shares darted in and out of losses on Tuesday amid a holiday lull. The Nifty was up 0.03 per cent at 12,266.60 by 0434 GMT, while the Sensex ticked up 0.02 per cent to 41,648.96. "The Nifty is likely to stay range bound between 12,150 to 12,350 zones while stock specific action is likely to continue in near term," analysts at Motilal Oswal wrote in a report. On the Nifty 100 index, Zee Entertainment Enterprises Ltd was the top gainer with a 2.4 per cent rise, while HCL Technologies Ltd fell the most. Shares in Yes Bank, down 26 per cent so far this month amid uncertainty over its plans to raise more capital, rose as much as 3.2 per cent. Indiabulls Real Estate's stock climbed 1.4 per cent. The company announced plans late on Sunday to sell commercial assets to Blackstone Group for 8.1 billion rupees ($114 million).

Sensex, Nifty open flat; Yes Bank, Indiabulls Real Estate rise

<a href="https://www.wionews.com/business-economy/oil-eases-but-supported-by-trade-deal-hopes-269679">Oil&nbsp;prices</a>&nbsp;edged&nbsp;higher&nbsp;on Tuesday in thin pre-Christmas trading after Russia's energy minister said cooperation with OPEC to&nbsp;support&nbsp;the market would continue and as analysts&nbsp;forecast&nbsp;a second weekly decline in <a href="https://www.wionews.com/business-economy/oil-falls-as-us-inventories-rise-but-demand-hopes-stem-bigger-drop-268973">US&nbsp;crude inventories</a>.

Brent crude was up 5 cents at $66.44 a barrel by 0321 GMT. US&nbsp;West Texas Intermediate was 1 cent&nbsp;higher&nbsp;at $60.53 a barrel.

OPEC, Russia and other producers that have linked up to curtail production and&nbsp;support&nbsp;prices&nbsp;will continue their cooperation as long as it is "effective and brings results," Russian energy minister <a href="https://www.wionews.com/business-economy/opec-and-allies-prepare-to-deepen-oil-output-cuts-266447">Alexander Novak</a> said in an interview on Monday.

Cooperation with the Organization of the Petroleum Exporting Countries (<a href="https://www.wionews.com/business-economy/oil-slips-as-opec-gears-up-to-confirm-supply-cut-266600">OPEC</a>) would continue "until the market requires it," Novak added.

OPEC and other producers agreed in November to extend and deepen output curbs in place since 2017. The reduction of output could see as much as 2.1 million barrels per day (bpd) taken off the market, or about 2 per cent&nbsp;of global demand.

Still, OPEC needs to do more to balance out the market on a sustainable basis, Bjornar Tonhaugen, head of&nbsp;oil&nbsp;market research at Rystad Energy said in a note.

"The OPEC&nbsp;cuts&nbsp;didn't fully solve the problem&nbsp;instead they offer a light bandage to get through the first quarter of 2020," said Tonhaugen, adding "after that, we believe the market will begin to realize the looming oversupply."

US&nbsp;producers have been happy to fill any gaps in the market, pumping ever greater amounts of crude to reach a record high of around 13 million bpd in November.

That has helped swell inventories, which have been stubbornly resistant to drawdowns. US&nbsp;stocks are up around 1 per cent&nbsp;this year.

Crude stocks are, however, expected to have fallen by about 1.8 million barrels last week, a second week of declines, according to a preliminary&nbsp;poll.

Still, <a href="https://www.wionews.com/business-economy/oil-gains-on-us-crude-stocks-fall-opec-comments-on-slower-us-shale-growth-262061">gasoline stocks</a> are expected to have risen for a seventh week in a row and distillate inventories are&nbsp;forecast&nbsp;to have gained for a fifth consecutive week.

Oil prices edged higher on Tuesday in thin pre-Christmas trading after Russia's energy minister said cooperation with OPEC to support the market would continue and as analysts forecast a second weekly decline in US crude inventories.

Oil prices edged higher on Tuesday in thin pre-Christmas trading after Russia's energy minister said cooperation with OPEC to support the market would continue and as analysts forecast a second weekly decline in US crude inventories. Brent crude was up 5 cents at $66.44 a barrel by 0321 GMT. US West Texas Intermediate was 1 cent higher at $60.53 a barrel. OPEC, Russia and other producers that have linked up to curtail production and support prices will continue their cooperation as long as it is "effective and brings results," Russian energy minister Alexander Novak said in an interview on Monday. Cooperation with the Organization of the Petroleum Exporting Countries (OPEC) would continue "until the market requires it," Novak added. OPEC and other producers agreed in November to extend and deepen output curbs in place since 2017. The reduction of output could see as much as 2.1 million barrels per day (bpd) taken off the market, or about 2 per cent of global demand. Still, OPEC needs to do more to balance out the market on a sustainable basis, Bjornar Tonhaugen, head of oil market research at Rystad Energy said in a note. "The OPEC cuts didn't fully solve the problem instead they offer a light bandage to get through the first quarter of 2020," said Tonhaugen, adding "after that, we believe the market will begin to realize the looming oversupply." US producers have been happy to fill any gaps in the market, pumping ever greater amounts of crude to reach a record high of around 13 million bpd in November. That has helped swell inventories, which have been stubbornly resistant to drawdowns. US stocks are up around 1 per cent this year. Crude stocks are, however, expected to have fallen by about 1.8 million barrels last week, a second week of declines, according to a preliminary poll. Still, gasoline stocks are expected to have risen for a seventh week in a row and distillate inventories are forecast to have gained for a fifth consecutive week.

Oil prices inch higher in pre-Christmas trading

The Indian economy faces multiple challenges. From slow consumption to falling incomes and low wages.

Less than six months ago — the International Monetary Fund had predicted that the Indian economy will grow by 6.1 per cent this year. 
But — it's not the first time that the economists have got their prediction wrong.

In November — India's GDP growth rate fell to less than five per cent. India's growth rate has been slipping for five quarters now.

The economic data has some clues — that explain the slowdown in India.

The biggest problem seems to be the demand. Key sectors are reporting a drop in their sales.

In September — the auto sales saw their worst ever fall in 21 years.

There was some recovery in November — but there was an overall drop in domestic sales.

India's top consumer goods companies reported a drop in sales all through this year.

The real estate sector remains in a state of a slump.

The IMF has listed weak income growth as one of the reasons behind the slowdown.

India remains a low-middle income country. The average income of an Indian is a little over 10,000 rupees. That's far less than most of the developed powers in the world.

Job creation has also taken a hit

Last year — a government report said that India's unemployment rate was at a 45 year high.

Another assessment claims that India has lost nine million jobs in six years till 2018.

Access to easy credit has also dried up. This was triggered by the collapse of Infrastructure Leasing &amp; Financial Services Limited (IL&amp;FS). The sudden fall of this institution led to a chain reaction.

Access to cheap credit dried up. It had an impact on the operations of several businessmen.

India's state-run banks to have been struggling with non-performing assets.

The slowdown poses a significant challenge to the Modi government.&nbsp;

Even the global economy is in a crisis mode. The world economy is slowing down — and this could exacerbate the crisis in India.

The Indian economy faces multiple challenges. From slow consumption to falling incomes and low wages. Less than six months ago — the International Monetary Fund had predicted that the Indian economy will grow by 6.

The Indian economy faces multiple challenges. From slow consumption to falling incomes and low wages. Less than six months ago — the International Monetary Fund had predicted that the Indian economy will grow by 6.1 per cent this year. But — it's not the first time that the economists have got their prediction wrong. In November — India's GDP growth rate fell to less than five per cent. India's growth rate has been slipping for five quarters now. The economic data has some clues — that explain the slowdown in India. The biggest problem seems to be the demand. Key sectors are reporting a drop in their sales. In September — the auto sales saw their worst ever fall in 21 years. There was some recovery in November — but there was an overall drop in domestic sales. India's top consumer goods companies reported a drop in sales all through this year. The real estate sector remains in a state of a slump. The IMF has listed weak income growth as one of the reasons behind the slowdown. India remains a low-middle income country. The average income of an Indian is a little over 10,000 rupees. That's far less than most of the developed powers in the world. Job creation has also taken a hit Last year — a government report said that India's unemployment rate was at a 45 year high. Another assessment claims that India has lost nine million jobs in six years till 2018. Access to easy credit has also dried up. This was triggered by the collapse of Infrastructure Leasing & Financial Services Limited (IL&FS). The sudden fall of this institution led to a chain reaction. Access to cheap credit dried up. It had an impact on the operations of several businessmen. India's state-run banks to have been struggling with non-performing assets. The slowdown poses a significant challenge to the Modi government. Even the global economy is in a crisis mode. The world economy is slowing down — and this could exacerbate the crisis in India.

Decoding Indian economic slowdown: Slow consumption, falling income, low wages

<a href="https://www.wionews.com/world/indias-oil-imports-from-venezuela-hit-lowest-in-over-five-years-35639">India's oil imports </a>in November grew at their fastest pace in seven months, while diesel exports soared the most in about 2 years, indicating higher refinery runs amid falling local demand for gas oil due to a slowing economy.

India's November oil imports rose 12.7 per cent&nbsp;to 19.17 million tonnes (about 4.7 million barrels per day), the biggest year-on-year increase since April, preliminary data from the oil ministry's Petroleum Planning and Analysis Cell <a href="https://www.wionews.com/india-news/indias-fuel-demand-rises-28-per-cent-year-on-year-in-august-at-nine-month-low-249025">(PPAC)</a> showed.

"Some of the refineries were undergoing revamp because of fuel upgrade projects, that was one reason why imports were low in the previous months," said K Ravichandran, senior vice president at ICRA, a unit of Moody's Investors Service.

"Now all those refineries are coming back to production as we approach the deadline."

India, the world's third-biggest oil importer, and the consumer has set an April 1, 2020 deadline to migrate to Euro VI-compliant&nbsp;fuels to cut its carbon emissions.

India's oil demand has been subdued for most of the year mainly due to a slowdown in economy and refinery unit shutting for maintenance and fuel upgrades. India's economy grew at its slowest pace in six years in the July-September quarter.

Indian refiners raised the output of diesel expecting a spurt in demand for the fuel following the implementation of new marine fuel rules from January 2020.

"Unfortunately domestic demand is not growing," Ravichandran added.

Diesel demand, which is directly correlated to industrial activity, has been slow for most of the year, pressured by a prolonged monsoon season and softening industrial activity.

Analysts expect India's diesel demand to remain subdued until the second half of 2020.

The country's overall industrial output has fallen for three straight months for the first time since the global recession that began in 2008, with electricity demand falling for four consecutive months.

India has lowered its fuel demand growth estimates for the current fiscal year to a six-year low of 1.3 per cent. Local sales of diesel are expected to grow by 0.9 per cent, the lowest rate in five years.

Refined fuel exports rose by 16.4 per cent in November, the PPAC data showed, with <a href="https://www.wionews.com/business-economy/indias-diesel-demand-growth-seen-stuck-in-low-gear-until-mid-2020-266079">diesel</a> exports soaring by about 41 per cent&nbsp;to register their biggest annual jump since January 2018.

Import of refined products rose 45.4 per cent in November from a year earlier to 3.29 million tonnes mainly because of an increase in <a href="https://www.wionews.com/business-economy/cooking-gas-price-hiked-by-rs-450-per-cylinder-19th-increase-since-july-2016-23296">cooking gas</a> and fuel oil imports, the data showed.

India's oil imports in November grew at their fastest pace in seven months, while diesel exports soared the most in about 2 years, indicating higher refinery runs amid falling local demand for gas oil due to a slowing economy.

India's oil imports in November grew at their fastest pace in seven months, while diesel exports soared the most in about 2 years, indicating higher refinery runs amid falling local demand for gas oil due to a slowing economy. India's November oil imports rose 12.7 per cent to 19.17 million tonnes (about 4.7 million barrels per day), the biggest year-on-year increase since April, preliminary data from the oil ministry's Petroleum Planning and Analysis Cell (PPAC) showed. "Some of the refineries were undergoing revamp because of fuel upgrade projects, that was one reason why imports were low in the previous months," said K Ravichandran, senior vice president at ICRA, a unit of Moody's Investors Service. "Now all those refineries are coming back to production as we approach the deadline." India, the world's third-biggest oil importer, and the consumer has set an April 1, 2020 deadline to migrate to Euro VI-compliant fuels to cut its carbon emissions. India's oil demand has been subdued for most of the year mainly due to a slowdown in economy and refinery unit shutting for maintenance and fuel upgrades. India's economy grew at its slowest pace in six years in the July-September quarter. Indian refiners raised the output of diesel expecting a spurt in demand for the fuel following the implementation of new marine fuel rules from January 2020. "Unfortunately domestic demand is not growing," Ravichandran added. Diesel demand, which is directly correlated to industrial activity, has been slow for most of the year, pressured by a prolonged monsoon season and softening industrial activity. Analysts expect India's diesel demand to remain subdued until the second half of 2020. The country's overall industrial output has fallen for three straight months for the first time since the global recession that began in 2008, with electricity demand falling for four consecutive months. India has lowered its fuel demand growth estimates for the current fiscal year to a six-year low of 1.3 per cent. Local sales of diesel are expected to grow by 0.9 per cent, the lowest rate in five years. Refined fuel exports rose by 16.4 per cent in November, the PPAC data showed, with diesel exports soaring by about 41 per cent to register their biggest annual jump since January 2018. Import of refined products rose 45.4 per cent in November from a year earlier to 3.29 million tonnes mainly because of an increase in cooking gas and fuel oil imports, the data showed.

India's November oil import growth fastest in seven months: Sources

Saudi Arabia and Kuwait signed an agreement Tuesday to resume pumping at two major oilfields in a shared neutral zone shut for five years due to a bilateral disagreement, officials said.

Kuwait's oil minister <a href="https://www.wionews.com/business-economy/oil-falls-more-than-2-on-us-china-trade-deal-doubts-stronger-dollar-256002">Khaled al-Fadhel</a> said on Twitter that the memorandum of understanding signed with Saudi Arabia included "the resumption of production in the divided zone."

The state-run KUNA news agency reported that the two countries also signed an agreement on the demarcation of land and maritime borders in the neutral zone.

<a href="https://www.wionews.com/world/kuwait-announces-new-government-kuna-268683">KUNA</a> did not give details on the contents of the deal which likely revolves around amending previous border agreements between the two Arab nations.

The two fields were pumping some 500,000 barrels per day before production was halted, first at Khafji in October 2014 and then at Wafra seven months later, over a dispute between the neighbours.

Riyadh said at the time that the decision was due to environmental issues.&nbsp;

The oil produced in the neutral zone in the border area is shared equally between the two nations.

Khafji, an offshore field, was jointly operated by Kuwait Gulf Oil Co&nbsp;and Saudi Aramco Gulf Operations, while the onshore Wafra field was operated by KGOC and Saudi Arabian Chevron.&nbsp;

Kuwait had blamed Saudi Arabia for unilaterally halting output at Khafji, noting it was entitled to five years' notice under a joint agreement signed in 1965.

The two countries have been negotiating to resolve the row and resume production since June 2015.

The talks involved Kuwait's Emir Sheikh Sabah al-Ahmad Al-Sabah visiting Riyadh and Saudi Crown Prince <a href="https://www.wionews.com/pakistan/cash-strapped-pakistan-to-host-saudi-crown-prince-197175">Mohammed bin Salman</a> visiting Kuwait City.

Tuesday's agreement comes as oil prices are under pressure due to abundant reserves and weak global economic growth.&nbsp;

Continued soft pricing has prompted <a href="https://www.wionews.com/business-economy/opec-gearing-up-for-deeper-oil-cuts-russia-yet-to-agree-266198">OPEC</a> and its allies to make deeper production cuts starting next month.

OPEC kingpin Saudi Arabia pumps just under 10 million barrels per day (bpd), while Kuwait produces around 2.7 million bpd.

Saudi Arabia and Kuwait signed an agreement Tuesday to resume pumping at two major oilfields in a shared neutral zone shut for five years due to a bilateral disagreement, officials said.

Saudi Arabia and Kuwait signed an agreement Tuesday to resume pumping at two major oilfields in a shared neutral zone shut for five years due to a bilateral disagreement, officials said. Kuwait's oil minister Khaled al-Fadhel said on Twitter that the memorandum of understanding signed with Saudi Arabia included "the resumption of production in the divided zone." The state-run KUNA news agency reported that the two countries also signed an agreement on the demarcation of land and maritime borders in the neutral zone. KUNA did not give details on the contents of the deal which likely revolves around amending previous border agreements between the two Arab nations. The two fields were pumping some 500,000 barrels per day before production was halted, first at Khafji in October 2014 and then at Wafra seven months later, over a dispute between the neighbours. Riyadh said at the time that the decision was due to environmental issues. The oil produced in the neutral zone in the border area is shared equally between the two nations. Khafji, an offshore field, was jointly operated by Kuwait Gulf Oil Co and Saudi Aramco Gulf Operations, while the onshore Wafra field was operated by KGOC and Saudi Arabian Chevron. Kuwait had blamed Saudi Arabia for unilaterally halting output at Khafji, noting it was entitled to five years' notice under a joint agreement signed in 1965. The two countries have been negotiating to resolve the row and resume production since June 2015. The talks involved Kuwait's Emir Sheikh Sabah al-Ahmad Al-Sabah visiting Riyadh and Saudi Crown Prince Mohammed bin Salman visiting Kuwait City. Tuesday's agreement comes as oil prices are under pressure due to abundant reserves and weak global economic growth. Continued soft pricing has prompted OPEC and its allies to make deeper production cuts starting next month. OPEC kingpin Saudi Arabia pumps just under 10 million barrels per day (bpd), while Kuwait produces around 2.7 million bpd.

Saudi, Kuwait signed an agreement to resume joint oil output

Beleaguered <a href="https://www.wionews.com/business-economy/faa-seeks-39-million-fine-from-boeing-for-defective-parts-on-737-ng-planes-266792">Boeing Co</a> is putting its future in an industry veteran who has led several companies in crisis, began his career at engine maker <a href="https://www.wionews.com/world/us-accuses-pair-of-stealing-secrets-spying-on-general-electric-to-aid-china-213103">General Electric Co</a> and has already spent a decade on the board of the world's largest planemaker.

Newly named Chief Executive David Calhoun, 62, was made Boeing's chairman two months ago, in the midst of the crisis that has rocked the company since two fatal crashes led to the grounding of its 737 MAX. It was not his first experience of navigating corporate upheaval.

Calhoun became chairman of the Caterpillar Inc board shortly after federal agents raided its headquarters in March 2017, headed a General Electric division that included airplane engines after the September&nbsp;11 attacks, and led media research company Nielsen's effort to go public. He has also been a longtime executive at Blackstone private equity group.

“Having seen him run GE's aviation business after 9/11, I know he can execute under pressure,” former GE Chief Executive Jeff Immelt told Reuters by email when asked about Calhoun, adding that Calhoun would restore customer trust in Boeing.

Calhoun, who has co-written a book on business, "How Companies Win," says being candid is part of being a leader, an approach which many critics say was absent from Boeing’s initially guarded approach to concerns about the <a href="https://www.wionews.com/business-economy/sales-of-grounded-boeing-737-max-gather-pace-at-dubai-airshow-263161">737 MAX</a>.

“The second you get into the office till the second you leave, every interaction is judged,” he said in a video published in 2014 by the Jack Welch Management Institute.

“You try to hide anything from everybody and I think your body language becomes perfectly apparent.”

Yet in his short time as Boeing chairman, Calhoun has shown his ability to work discreetly behind the scenes, as seen by his role in the departure of Kevin McAllister as chief executive of Boeing's placemaking arm in October. The removal was silent and swift, foreshadowing Muilenburg's ouster this past weekend.

Some insiders saw McAllister another GE veteran as a scapegoat for the MAX crisis. Others say he paid the price for distractions including widely publicized cracks in the company's older 737NG jets, which caught the board off guard. The 737 MAX was not impacted by the cracking issue.

The reckoning came at an informal board dinner in Texas led by Calhoun in late October. As directors wound up a two-day summit a day later, Calhoun and Muilenburg took McAllister aside and told him he was out, two people briefed on the meeting said.

In a sign that the board was already claiming a new voice under recently appointed chairman Calhoun, having split the CEO and chairman roles, the decisive dinner conversation that led to the shake-up took place without Muilenburg, the people said.

Boeing declined to comment on confidential board discussions.

McAllister and Muilenburg could not be reached.

Now, Calhoun must repair frayed relations with regulators, continue to manage a cash squeeze from the crisis and bring to market the new 777X jet at a time of tough regulatory scrutiny.

His experience on the Boeing board will allow Calhoun to "take the reins in short order without the need for a longer period of familiarization," said Timm Schulze-Melander, industrials specialist at European research house Redburn.

He also will have to face skeptics that Boeing can change, including Paul Njoroge, a Toronto-based investment professional, who lost his family in an <a href="https://www.wionews.com/world/ethiopian-airlines-boeing-737-plane-crashes-on-way-to-kenya-with-149-passengers-on-board-202327">Ethiopia Airlines</a> crash on March 10.

"Boeing needs a revamp of its corporate governance. The board should be fired,” he said, adding of Calhoun, “I don't think he is going to change the culture of Boeing."

Others are less sure.

He is a "hard-nosed" leader who does not warm to dissent but who can inspire, said an executive who worked for him at Nielsen.

“(Boeing)&nbsp;might need someone as tough as Dave. I don't think he would be a good manager over a long period of time. As a crisis manager, he might be able to get it done,” the person said.

Another executive who has encountered him called him even-handed and smart. "Boeing will come back quickly," he predicted.

Beleaguered Boeing Co is putting its future in an industry veteran who has led several companies in crisis, began his career at engine maker General Electric Co and has already spent a decade on the board of the world's largest planemaker.

Beleaguered Boeing Co is putting its future in an industry veteran who has led several companies in crisis, began his career at engine maker General Electric Co and has already spent a decade on the board of the world's largest planemaker. Newly named Chief Executive David Calhoun, 62, was made Boeing's chairman two months ago, in the midst of the crisis that has rocked the company since two fatal crashes led to the grounding of its 737 MAX. It was not his first experience of navigating corporate upheaval. Calhoun became chairman of the Caterpillar Inc board shortly after federal agents raided its headquarters in March 2017, headed a General Electric division that included airplane engines after the September 11 attacks, and led media research company Nielsen's effort to go public. He has also been a longtime executive at Blackstone private equity group. “Having seen him run GE's aviation business after 9/11, I know he can execute under pressure,” former GE Chief Executive Jeff Immelt told Reuters by email when asked about Calhoun, adding that Calhoun would restore customer trust in Boeing. Calhoun, who has co-written a book on business, "How Companies Win," says being candid is part of being a leader, an approach which many critics say was absent from Boeing’s initially guarded approach to concerns about the 737 MAX. “The second you get into the office till the second you leave, every interaction is judged,” he said in a video published in 2014 by the Jack Welch Management Institute. “You try to hide anything from everybody and I think your body language becomes perfectly apparent.” Yet in his short time as Boeing chairman, Calhoun has shown his ability to work discreetly behind the scenes, as seen by his role in the departure of Kevin McAllister as chief executive of Boeing's placemaking arm in October. The removal was silent and swift, foreshadowing Muilenburg's ouster this past weekend. Some insiders saw McAllister another GE veteran as a scapegoat for the MAX crisis. Others say he paid the price for distractions including widely publicized cracks in the company's older 737NG jets, which caught the board off guard. The 737 MAX was not impacted by the cracking issue. The reckoning came at an informal board dinner in Texas led by Calhoun in late October. As directors wound up a two-day summit a day later, Calhoun and Muilenburg took McAllister aside and told him he was out, two people briefed on the meeting said. In a sign that the board was already claiming a new voice under recently appointed chairman Calhoun, having split the CEO and chairman roles, the decisive dinner conversation that led to the shake-up took place without Muilenburg, the people said. Boeing declined to comment on confidential board discussions. McAllister and Muilenburg could not be reached. Now, Calhoun must repair frayed relations with regulators, continue to manage a cash squeeze from the crisis and bring to market the new 777X jet at a time of tough regulatory scrutiny. His experience on the Boeing board will allow Calhoun to "take the reins in short order without the need for a longer period of familiarization," said Timm Schulze-Melander, industrials specialist at European research house Redburn. He also will have to face skeptics that Boeing can change, including Paul Njoroge, a Toronto-based investment professional, who lost his family in an Ethiopia Airlines crash on March 10. "Boeing needs a revamp of its corporate governance. The board should be fired,” he said, adding of Calhoun, “I don't think he is going to change the culture of Boeing." Others are less sure. He is a "hard-nosed" leader who does not warm to dissent but who can inspire, said an executive who worked for him at Nielsen. “(Boeing) might need someone as tough as Dave. I don't think he would be a good manager over a long period of time. As a crisis manager, he might be able to get it done,” the person said. Another executive who has encountered him called him even-handed and smart. "Boeing will come back quickly," he predicted.

New Boeing boss David Calhoun is a tough-minded veteran of crisis

Indian stock market indices indices on Tuesday faced a downturn &nbsp;due to weak investor sentiment in a holiday-shortened week with IT and auto stocks suffering the most.

The fall followed reports that the government may miss its divestment target for the current fiscal year 2019-20. The stock market will remain shut on Wednesday on account of Christmas.

The BSE S&amp;P Sensex closed 181 points lower at 41,461 while the Nifty 50 lost by 51 points at 12,212. At the National Stock Exchange, sectoral indices were mixed with Nifty IT falling by 0.54 per cent, media by 0.48 per cent and auto by 0.41 per cent.

Among stocks, Bharat Petroleum Corporation tumbled by 2.72 per cent at Rs 479.60 per share with reports suggesting that its divestment is likely to be pushed beyond March 31.

Index heavyweight Reliance Industries lost by 1.71 per cent at Rs 1,544.50 per share. IT stocks too suffered with HCL Technologies down by 1.7 per cent and Tata Consultancy Services by 0.7 per cent.

The other prominent losers were Eicher Motors, UPL, GAIL, HDFC Bank, Larsen &amp; Toubro and Dr Reddy`s.&nbsp;

However, the prominent winners included Yes Bank, Cipla, IndusInd Bank, JSW Steel and ONGC.Meanwhile, Asian shares swing in and out of losses as the holiday lull offset optimism that a US-China trade deal will boost exports and corporate earnings.

The Shanghai Composite index rose by 0.67 per cent after Premier Li Keqiang said a day earlier that the government is considering more measures to lower corporate financing costs.Japan`s Nikkei stock index edged up by 0.04 per cent while Hong Kong`s Hang Seng fell by 0.15 per cent. South Korea`s Kospi was also down by 0.62 per cent.

Indian stock market indices indices on Tuesday faced a downturn due to weak investor sentiment in a holiday-shortened week with IT and auto stocks suffering the most.

Indian stock market indices indices on Tuesday faced a downturn due to weak investor sentiment in a holiday-shortened week with IT and auto stocks suffering the most. The fall followed reports that the government may miss its divestment target for the current fiscal year 2019-20. The stock market will remain shut on Wednesday on account of Christmas. The BSE S&P Sensex closed 181 points lower at 41,461 while the Nifty 50 lost by 51 points at 12,212. At the National Stock Exchange, sectoral indices were mixed with Nifty IT falling by 0.54 per cent, media by 0.48 per cent and auto by 0.41 per cent. Among stocks, Bharat Petroleum Corporation tumbled by 2.72 per cent at Rs 479.60 per share with reports suggesting that its divestment is likely to be pushed beyond March 31. Index heavyweight Reliance Industries lost by 1.71 per cent at Rs 1,544.50 per share. IT stocks too suffered with HCL Technologies down by 1.7 per cent and Tata Consultancy Services by 0.7 per cent. The other prominent losers were Eicher Motors, UPL, GAIL, HDFC Bank, Larsen & Toubro and Dr Reddy`s. However, the prominent winners included Yes Bank, Cipla, IndusInd Bank, JSW Steel and ONGC.Meanwhile, Asian shares swing in and out of losses as the holiday lull offset optimism that a US-China trade deal will boost exports and corporate earnings. The Shanghai Composite index rose by 0.67 per cent after Premier Li Keqiang said a day earlier that the government is considering more measures to lower corporate financing costs.Japan`s Nikkei stock index edged up by 0.04 per cent while Hong Kong`s Hang Seng fell by 0.15 per cent. South Korea`s Kospi was also down by 0.62 per cent.

Sensex falls 181 points to close at 41,461.26; Nifty at 12,214.55