‘Maybe play one more season’: MS Dhoni to decide on his IPL future before December

Telangana unveils AI avatar of IT minister D Sridhar Babu at Hyderabad DevFest 2026

Viral video shows cross falling on Colombia priest, no official confirmation | WATCH

Pezeshkian says Iranians ‘struggling to put food on the table’ as war with US drags on

Shilpa Rao’s performance cut short at Mumbai event, organisers react to backlash

Chorbagan stampede: A week later, the strangest visarjan Kolkata has seen

AI slop or smart strategy? South African author Coral Hart defends Her 370 AI- assisted books in 20 months

AI just found a flaw in software running most of the web! One request hijacks the server

Train crashes into crane on São Paulo monorail line, wreckage falls onto busy road | VIDEO

Can Putin cheat death? All about his daughter’s billion-dollar quest for immortality

Saudi says debris fell in Mecca, Medina after missile interceptions; Houthis deny targeting holy cities

What was the note found inside bag of Class 12 student, who set herself on fire inside Delhi school?

Netanyahu warns Israelis of ‘existential threat’ from Iran, posts AI image of nuclear strike

Pakistan airline PIA unveils new crew uniforms, faces online criticism

Britain is building the world's first AI biosecurity lab, with OpenAI and Anthropic inside

J-20 designers plan to put radar into aircraft wing; strategy to expand coverage during air combat

Frontier AIs keep escaping their test cages! The industry still can't reliably stop them

'Already tired of his 9-to-5': Baby born with a moustache becomes internet sensation, video goes viral | Watch

France protests: 135 arrested, weapons seized as fresh demonstrations erupt amid heavy security

French Open: PV Sindhu storms into final with win over Hina Akechi

Russia-Ukraine drone attacks kill 6, injure 31 across both countries

‘Saddam Hussein opened a cheesecake factory’: Obama mocks Trump’s White House renovations; defends Abdul El-Sayed

China's dancing robot turns violent bodyguard, lifts cars and fights intruders - Watch

'You’re a horrible little reporter, aren’t you?': Trump snaps at NBC reporter questioning his support for Ramaswamy's campaign ad

'Killing people never allowed': Elon Musk admits restricting Starlink in Ukraine, explains why

Bodies of 2 missing Japanese climbers recovered from Himalayan peak

New Friday OTT releases (October 23, 2026): Gajab Raat, Dorothy, Chaar Yaar- Watch these 6 new movies and TV shows on Netflix, Prime Video and more

An AI that reads your face can now estimate how long you have to live

'If it was up to me, it wouldn't have ended like this': James Anderson opens up on Lancashire exit

WATCH: Thousands across Manipur bang plates, beat drums in "noise protest"

NEET protests: Panel to hear evidence on pellet gun use, harassment 

Tu Hai Meri Kiran film review: Sonakshi Sinha and Zaheer Iqbal's thriller gets tangled in its own twists

Nagpur man fails to pay rent, allegedly prints fake Rs 500 notes worth Rs 37 lakh

‘Modi ka baap bhi jayega,’ Kharge loses cool at party event in Patna; BJP slams him

Why Europe’s protests are about more than austerity and rising costs

Farooq Abdullah says Pakistan’s raising of Kashmir issue keeps pressure on Delhi

Equity benchmark indices traded range-bound on Wednesday but closed in the green as investors contemplated stock-specific action on the first trading session of the calendar year 2020.

The BSE S&amp;P Sensex closed 52 points up at 41,306 while the Nifty 50 edged higher by 21 points at 12,190.

Sectoral indices at the National Stock Exchange (NSE) were mixed a day after Finance Minister Nirmala Sitharaman announced a Rs 102 lakh crore infrastructure pipeline project for the next five years at a time when overall economic growth is slowing.

Among stocks, Adani Ports was the top winner with an intra-day gain of 3.13 per cent to Rs 377.45 per share. Power Grid Corporation gained by 2.8 per cent while NTPC ticked up by 2.1 per cent.

The other prominent gainers were Vedanta, Bharti Infratel, Infosys, Mahindra &amp; Mahindra, HDFC, Larsen &amp; Toubro and Hindustan Lever.

However, private sector lenders slipped with IndusInd Bank down by 1.5 per cent, Axis Bank by 0.7 per cent and Kotak Mahindra Bank by 0.6 per cent.

Titan was down by 2.7 per cent despite Crisil upgrading its rating on its long-term bank facilities totalling Rs 2,850 crore to AAA with a stable outlook.

Auto majors like Eicher Motors, Bajaj Auto and Maruti too were in the red along with ONGC, Zee Entertainment, and Tata Steel.

Equity benchmark indices traded range-bound on Wednesday but closed in the green as investors contemplated stock-specific action on the first trading session of the calendar year 2020.

Equity benchmark indices traded range-bound on Wednesday but closed in the green as investors contemplated stock-specific action on the first trading session of the calendar year 2020. The BSE S&P Sensex closed 52 points up at 41,306 while the Nifty 50 edged higher by 21 points at 12,190. Sectoral indices at the National Stock Exchange (NSE) were mixed a day after Finance Minister Nirmala Sitharaman announced a Rs 102 lakh crore infrastructure pipeline project for the next five years at a time when overall economic growth is slowing. Among stocks, Adani Ports was the top winner with an intra-day gain of 3.13 per cent to Rs 377.45 per share. Power Grid Corporation gained by 2.8 per cent while NTPC ticked up by 2.1 per cent. The other prominent gainers were Vedanta, Bharti Infratel, Infosys, Mahindra & Mahindra, HDFC, Larsen & Toubro and Hindustan Lever. However, private sector lenders slipped with IndusInd Bank down by 1.5 per cent, Axis Bank by 0.7 per cent and Kotak Mahindra Bank by 0.6 per cent. Titan was down by 2.7 per cent despite Crisil upgrading its rating on its long-term bank facilities totalling Rs 2,850 crore to AAA with a stable outlook. Auto majors like Eicher Motors, Bajaj Auto and Maruti too were in the red along with ONGC, Zee Entertainment, and Tata Steel.

Equity indices close in the green, Adani Ports gains by 3.1 per cent

Airbus has become the world's largest planemaker for the first time since 2011 after delivering a forecast-beating 863 aircraft in 2019, seizing the crown from embattled US&nbsp;rival Boeing, airport and tracking sources said on Wednesday.

A reversal in the pecking order between the two giants had been expected as a crisis over Boeing's grounded 737 MAX drags into 2020. But the record European data further underscores the distance Boeing must travel to recoup its market position.

Airbus, which had been forced by its own industrial problems to cut its 2019 delivery goal by 2-3 per cent&nbsp;in October, deployed extra resources until hours before midnight to reach 863 aircraft for the year, compared with its revised target of 860 jets.

Deliveries rose 7.9 per cent&nbsp;from 800 aircraft in 2018.

Airbus declined to comment on the figures, which must be audited before they can be finalised and published.

Planemakers receive most of their revenues when aircraft are delivered - minus accumulated progress payments - so the end-year delivery performance is closely monitored by investors.

Airbus's tally, which included around 640 single-aisle aircraft, broke industry records after it diverted thousands of workers and cancelled holidays to complete a buffer stock of semi-finished aircraft waiting to have their cabins adjusted.

Airbus has been hit by delays in fitting the complex new layouts on A321neo jets assembled in Hamburg, Germany, resulting in dozens of these and other models being stored in hangars to await last-minute configurations and the arrival of more labour.

Such out-of-sequence work drives up costs and could have a modest impact on Airbus profit margins, but the impact will be largely blunted by the high volume of planes and already solid profitability for such single-aisle aircraft, analysts say.

Still, the problems in fitting complex cabins have curtailed Airbus's ability to take advantage of the market turmoil surrounding Boeing's 737 MAX - grounded since March following two fatal accidents.

Boeing delivered 345 mainly long-haul jets between January and November, less than half the number of 704 achieved in the same period of 2018 when the MAX was being delivered normally. For the whole of 2018, Boeing had delivered 806 aircraft.

Airbus production plants traditionally halt over Christmas and New Year. But the company's delivery centres and completion facilities were humming well into the afternoon of New Year's Eve to allow Asian and other airlines to fly away new jets.

Airbus has become the world's largest planemaker for the first time since 2011 after delivering a forecast-beating 863 aircraft in 2019, seizing the crown from embattled US rival Boeing, airport and tracking sources said on Wednesday.

Airbus has become the world's largest planemaker for the first time since 2011 after delivering a forecast-beating 863 aircraft in 2019, seizing the crown from embattled US rival Boeing, airport and tracking sources said on Wednesday. A reversal in the pecking order between the two giants had been expected as a crisis over Boeing's grounded 737 MAX drags into 2020. But the record European data further underscores the distance Boeing must travel to recoup its market position. Airbus, which had been forced by its own industrial problems to cut its 2019 delivery goal by 2-3 per cent in October, deployed extra resources until hours before midnight to reach 863 aircraft for the year, compared with its revised target of 860 jets. Deliveries rose 7.9 per cent from 800 aircraft in 2018. Airbus declined to comment on the figures, which must be audited before they can be finalised and published. Planemakers receive most of their revenues when aircraft are delivered - minus accumulated progress payments - so the end-year delivery performance is closely monitored by investors. Airbus's tally, which included around 640 single-aisle aircraft, broke industry records after it diverted thousands of workers and cancelled holidays to complete a buffer stock of semi-finished aircraft waiting to have their cabins adjusted. Airbus has been hit by delays in fitting the complex new layouts on A321neo jets assembled in Hamburg, Germany, resulting in dozens of these and other models being stored in hangars to await last-minute configurations and the arrival of more labour. Such out-of-sequence work drives up costs and could have a modest impact on Airbus profit margins, but the impact will be largely blunted by the high volume of planes and already solid profitability for such single-aisle aircraft, analysts say. Still, the problems in fitting complex cabins have curtailed Airbus's ability to take advantage of the market turmoil surrounding Boeing's 737 MAX - grounded since March following two fatal accidents. Boeing delivered 345 mainly long-haul jets between January and November, less than half the number of 704 achieved in the same period of 2018 when the MAX was being delivered normally. For the whole of 2018, Boeing had delivered 806 aircraft. Airbus production plants traditionally halt over Christmas and New Year. But the company's delivery centres and completion facilities were humming well into the afternoon of New Year's Eve to allow Asian and other airlines to fly away new jets.

Airbus beats goal with 863 jet deliveries in 2019, ousts Boeing from top spot

World Economic Forum is still seeing the ray of hope for India. According to WEF, India is the world's fastest-expanding major economy.

WEF: India is world's fastest-expanding major economy | WION Wallet

Smartphones have come a long way in the last two decades, from the days when Nokia was the undisputed king and owning a Blackberry was a status symbol, to a time when the iPhone shifted the focus to app-based touch screen phones.&nbsp;

These devices have truly transformed - they've gotten bigger, slimmer, faster and more powerful. The world saw a dramatic shift in smartphone trends in 2019 too.&nbsp;

Foldable phones arrived in 2019, and the segment is sure to grow in 2020. Many phones makers unveiled their versions of foldable phones.&nbsp;

Samsung unveiled the galaxy fold. Despite the initial hiccups due to a faulty design, the company managed to launch the phone. 
&nbsp; 
Chinese tech major Huawei also showcased its phone with a flexible screen. Even Motorola brought back its iconic Razr with a screen that folds.&nbsp;

Other companies such as Microsoft and Oppo didn’t lag either. Joining the race of foldable phones.&nbsp;

Before 2019 began, we were used to seeing phones with a dual-camera setup. But now, companies are taking phone cameras a notch higher.

Phone makers revised the rear camera arrangement, be it Samsung, Huawei, Oppo or Nokia, almost all leading players moved from a dual-camera setup to multi-cameras.

2019 also saw the launch of 5G phones, allowing people to enjoy much faster internet speeds. Companies such as Samsung, Huawei and LG introduced their 5G models.&nbsp;

Many other phone makers are also working on 5G handsets.

Smartphones have come a long way in the last two decades, from the days when Nokia was the undisputed king and owning a Blackberry was a status symbol, to a time when the iPhone shifted the focus to app-based touch screen phones.

Smartphones have come a long way in the last two decades, from the days when Nokia was the undisputed king and owning a Blackberry was a status symbol, to a time when the iPhone shifted the focus to app-based touch screen phones. These devices have truly transformed - they've gotten bigger, slimmer, faster and more powerful. The world saw a dramatic shift in smartphone trends in 2019 too. Foldable phones arrived in 2019, and the segment is sure to grow in 2020. Many phones makers unveiled their versions of foldable phones. Samsung unveiled the galaxy fold. Despite the initial hiccups due to a faulty design, the company managed to launch the phone. Chinese tech major Huawei also showcased its phone with a flexible screen. Even Motorola brought back its iconic Razr with a screen that folds. Other companies such as Microsoft and Oppo didn’t lag either. Joining the race of foldable phones. Before 2019 began, we were used to seeing phones with a dual-camera setup. But now, companies are taking phone cameras a notch higher. Phone makers revised the rear camera arrangement, be it Samsung, Huawei, Oppo or Nokia, almost all leading players moved from a dual-camera setup to multi-cameras. 2019 also saw the launch of 5G phones, allowing people to enjoy much faster internet speeds. Companies such as Samsung, Huawei and LG introduced their 5G models. Many other phone makers are also working on 5G handsets.

The transformation tale of mobile phones: How we evolved from Nokia 3310 to Samsung Galaxy Fold

A consortium led by Tencent agreed to buy up to 20 per cent&nbsp;of&nbsp;<a href="https://www.wionews.com/entertainment/chinas-tencent-talking-to-vivendi-about-stake-in-lady-gagas-label-241359">Vivendi's Universal Music Group</a> (UMG) in a deal that values the world's largest music label at 30 billion euros ($34 billion) and increases the Chinese company's clout on the global market.

French media conglomerate&nbsp;Vivendi&nbsp;said it had finalised an agreement to sell an initial 10&nbsp;per cent&nbsp;of UMG home to artists such as <a href="https://www.wionews.com/photos/taylor-swift-fans-descend-on-paris-for-city-of-lover-concert-248731">Taylor Swift</a>, <a href="https://www.wionews.com/entertainment/lady-gaga-rubbishes-romance-rumours-with-bradley-cooper-says-fooled-ya-200412">Lady Gaga</a> and <a href="https://www.wionews.com/entertainment/the-beatles-iconic-abbey-road-cover-shot-is-50-years-old-now-241510">The Beatles</a> to the Tencent consortium.&nbsp;Vivendi&nbsp;added that it had started talks over the possible sale of "an additional minority share for a price which would at least be identical," without specifying a potential buyer.

The consortium also had the option to buy on the same price basis up to 10&nbsp;per cent&nbsp;more of UMG's share capital by January&nbsp;15, 2021. The transaction gives a 30 billion euro price tag for UMG on an enterprise value basis.

This initial deal would also soon be followed by a second one allowing Tencent Music Entertainment to buy a minority stake in UMG's subsidiary that houses its operations in greater China.

The agreement will allow both companies to expand in a recovering global music market, with Tencent getting more access to US&nbsp;artists while UMG can tap into the Asian market, which features big-selling "<a href="https://www.wionews.com/entertainment/k-pop-fans-brave-seouls-christmas-chill-to-buy-bts-merch-270013">K-Pop</a>" Korean pop stars.

Tencent did not immediately respond to request for comment, while&nbsp;Vivendi&nbsp;did not disclose the details of the consortium beyond saying they were "global financial investors".

Vivendi, controlled by French billionaire Vincent Bollore, is seeking to cash in on the music industry's revival, driven by a growing subscription and ad-based music streaming services.

The tie-up also builds on a partnership struck two years ago, under which Tencent can license Universal’s music for distribution over its streaming platforms.

The long-awaited deal should also boost morale among Chinese deal-makers who have had one of the worst years on record for China-outbound mergers and acquisitions (M&amp;A), with activity plunging to a 10-year low amid trade tensions between the United States and China, Refinitiv data shows.

Vivendi&nbsp;shares edged up 0.3&nbsp;per cent&nbsp;in early trading, with the final terms of the sale being in line with earlier guidance from&nbsp;Vivendi.

Universal was the main sales growth driver for&nbsp;Vivendi&nbsp;in the third quarter, with its revenues jumping by close to 16&nbsp;per cent&nbsp;to 1.8 billion euros.

A consortium led by Tencent agreed to buy up to 20 per cent of Vivendi's Universal Music Group (UMG) in a deal that values the world's largest music label at 30 billion euros ($34 billion) and increases the Chinese company's clout on the global market.

A consortium led by Tencent agreed to buy up to 20 per cent of Vivendi's Universal Music Group (UMG) in a deal that values the world's largest music label at 30 billion euros ($34 billion) and increases the Chinese company's clout on the global market. French media conglomerate Vivendi said it had finalised an agreement to sell an initial 10 per cent of UMG home to artists such as Taylor Swift, Lady Gaga and The Beatles to the Tencent consortium. Vivendi added that it had started talks over the possible sale of "an additional minority share for a price which would at least be identical," without specifying a potential buyer. The consortium also had the option to buy on the same price basis up to 10 per cent more of UMG's share capital by January 15, 2021. The transaction gives a 30 billion euro price tag for UMG on an enterprise value basis. This initial deal would also soon be followed by a second one allowing Tencent Music Entertainment to buy a minority stake in UMG's subsidiary that houses its operations in greater China. The agreement will allow both companies to expand in a recovering global music market, with Tencent getting more access to US artists while UMG can tap into the Asian market, which features big-selling "K-Pop" Korean pop stars. Tencent did not immediately respond to request for comment, while Vivendi did not disclose the details of the consortium beyond saying they were "global financial investors". Vivendi, controlled by French billionaire Vincent Bollore, is seeking to cash in on the music industry's revival, driven by a growing subscription and ad-based music streaming services. The tie-up also builds on a partnership struck two years ago, under which Tencent can license Universal’s music for distribution over its streaming platforms. The long-awaited deal should also boost morale among Chinese deal-makers who have had one of the worst years on record for China-outbound mergers and acquisitions (M&A), with activity plunging to a 10-year low amid trade tensions between the United States and China, Refinitiv data shows. Vivendi shares edged up 0.3 per cent in early trading, with the final terms of the sale being in line with earlier guidance from Vivendi. Universal was the main sales growth driver for Vivendi in the third quarter, with its revenues jumping by close to 16 per cent to 1.8 billion euros.

Vivendi sells minority stake in Universal to Tencent consortium

<a href="https://www.wionews.com/business-economy/gold-hits-two-month-peak-on-dollar-weakness-us-strikes-270962">Gold</a>&nbsp;prices jumped to their highest in more than three months on Tuesday on a weakening dollar, with the metal on track for its best annual show in nearly a decade, while palladium leapt towards its fourth straight yearly gain.

Spot&nbsp;gold&nbsp;hit its highest since September&nbsp;25 at $1,525.20 and was up 0.6 per cent to $1,524.44 per ounce by 0727 GMT. U.S.&nbsp;gold&nbsp;futures rose 0.6 per cent to $1,527.60.

Bullion has gained nearly 19 per cent in the year, its biggest since 2010, mainly driven by a tariff war between the United States and China, which triggered monetary policy easing by major central banks.

"One of the main drivers behind&nbsp;gold's gain is the weakening in the dollar," said Margaret Yang Yan, a market analyst at CMC Markets, adding prices also rose on year-end bargain-hunting.

The dollar slipped against a basket of rivals, making&nbsp;gold&nbsp;cheaper for holders of other currencies.

"However, the upside is kind of limited because quantitative easing or rate-cutting cycle has come to an end for now and we don't see a possibility of any rate cuts in 2020," Yan said.

The <a href="https://www.wionews.com/business-economy/gold-soars-2-per-cent-after-powell-speech-trump-tweets-245351">US&nbsp;Federal Reserve</a> cut interest rates three times this year before taking a pause. Lower interest rates reduce the opportunity cost of holding the non-yielding bullion.

On the trade front, a <a href="https://www.wionews.com/world/phase-one-trade-deal-with-china-would-be-signed-very-shortly-donald-trump-269576">Phase 1 deal</a> is likely to be signed next week, White House trade adviser Peter Navarro said on Monday.

"With liquidity much reduced in Asia, there is some potential for&nbsp;gold&nbsp;to spike higher on low volume with some risk hedging added into the mix," said Jeffrey Halley, senior market analyst, Asia Pacific at OANDA, in a note. "The next resistance is at $1,535 an ounce."

Further supporting&nbsp;gold, Asian shares slipped as investors locked in gains after a buoyant year of gains.

Speculators raised their bullish positions in COMEX&nbsp;gold&nbsp;contracts in the week to December&nbsp;24.

Elsewhere, palladium rose 0.3 per cent to $1,913.02 per ounce. Plagued by sustained supply deficit, the auto-catalyst metal extended gains into a fourth straight year.

Prices have jumped over 51 per cent so far this year, the most since 2017, which would make palladium the biggest gainer among precious metals for the year.

<a href="https://www.wionews.com/business-economy/deficit-hit-palladium-takes-aim-at-2000-ceiling-in-record-run-268725">Palladium</a>, used mainly in catalytic converters in vehicles, rose to an all-time peak of $1,998.43 on December&nbsp;17.

Silver rose 1.1 per cent to $18.10 and was poised to register its best year since 2010, rising about 17 per cent.

Platinum gained 1.4 per cent to $971.09 and was set to gain about 23 per cent for the year, its best since 2009.

Gold prices jumped to their highest in more than three months on Tuesday on a weakening dollar, with the metal on track for its best annual show in nearly a decade, while palladium leapt towards its fourth straight yearly gain.

Gold prices jumped to their highest in more than three months on Tuesday on a weakening dollar, with the metal on track for its best annual show in nearly a decade, while palladium leapt towards its fourth straight yearly gain. Spot gold hit its highest since September 25 at $1,525.20 and was up 0.6 per cent to $1,524.44 per ounce by 0727 GMT. U.S. gold futures rose 0.6 per cent to $1,527.60. Bullion has gained nearly 19 per cent in the year, its biggest since 2010, mainly driven by a tariff war between the United States and China, which triggered monetary policy easing by major central banks. "One of the main drivers behind gold's gain is the weakening in the dollar," said Margaret Yang Yan, a market analyst at CMC Markets, adding prices also rose on year-end bargain-hunting. The dollar slipped against a basket of rivals, making gold cheaper for holders of other currencies. "However, the upside is kind of limited because quantitative easing or rate-cutting cycle has come to an end for now and we don't see a possibility of any rate cuts in 2020," Yan said. The US Federal Reserve cut interest rates three times this year before taking a pause. Lower interest rates reduce the opportunity cost of holding the non-yielding bullion. On the trade front, a Phase 1 deal is likely to be signed next week, White House trade adviser Peter Navarro said on Monday. "With liquidity much reduced in Asia, there is some potential for gold to spike higher on low volume with some risk hedging added into the mix," said Jeffrey Halley, senior market analyst, Asia Pacific at OANDA, in a note. "The next resistance is at $1,535 an ounce." Further supporting gold, Asian shares slipped as investors locked in gains after a buoyant year of gains. Speculators raised their bullish positions in COMEX gold contracts in the week to December 24. Elsewhere, palladium rose 0.3 per cent to $1,913.02 per ounce. Plagued by sustained supply deficit, the auto-catalyst metal extended gains into a fourth straight year. Prices have jumped over 51 per cent so far this year, the most since 2017, which would make palladium the biggest gainer among precious metals for the year. Palladium, used mainly in catalytic converters in vehicles, rose to an all-time peak of $1,998.43 on December 17. Silver rose 1.1 per cent to $18.10 and was poised to register its best year since 2010, rising about 17 per cent. Platinum gained 1.4 per cent to $971.09 and was set to gain about 23 per cent for the year, its best since 2009.

Gold climbs to three-month high, poised for best year since 2010

Indian&nbsp;stocks&nbsp;slipped on Tuesday but hovered around their all-time highs as investors booked&nbsp;year-end&nbsp;profits, while the benchmark&nbsp;<a href="https://www.wionews.com/business-economy/sensex-nifty-edge-higher-in-rangebound-trade-gail-power-grid-rise-270934">Nifty&nbsp;index</a> was poised for a nearly&nbsp;13 per cent&nbsp;gain in&nbsp;2019.

On the last trading day of the&nbsp;year, the NSE&nbsp;Nifty&nbsp;50 index was down 0.36 per cent&nbsp;at 12,211.60 by 0445 GMT, while the S&amp;P BSE Sensex was trading 0.38 per cent lower at 41,401.35.

The&nbsp;Nifty&nbsp;has risen 12.5 per cent&nbsp;so far this&nbsp;year, while the Sensex has climbed 14.8 per cent. Both blue-chip indexes hit fresh record highs this&nbsp;year&nbsp;and have gained sharply more than in 2018, even as economic growth&nbsp;slipped to a five-year&nbsp;low this&nbsp;year&nbsp;amid a slowdown in demand for everything from cars to cookies.

Still, the gap between large-cap&nbsp;shares&nbsp;and their smaller peers was stark. The <a href="https://www.wionews.com/business-%26-economy/bse-to-launch-commodity-derivatives-trading-from-1-october-135458?amp">BSE</a> MidCap index has shed 3 per cent&nbsp;this&nbsp;year, while the BSE SmallCap index is down 7 per cent.

Asian equities also&nbsp;slipped on Tuesday, mirroring declines on Wall Street, as investors locked in gains made since the <a href="https://www.wionews.com/world/phase-one-trade-deal-with-china-would-be-signed-very-shortly-donald-trump-269576">United States and China deal</a> this month.

The&nbsp;Nifty&nbsp;Bank index and the&nbsp;Nifty&nbsp;PSU Bank index, which have each rallied roughly 17 per cent&nbsp;since early October, were down 0.40 per cent and 0.33 per cent, respectively.

Twelve of the 13 stocks on the&nbsp;Nifty&nbsp;PSU Bank index, which tracks state-run lenders, were in the red.&nbsp;Indian&nbsp;Overseas Bank fell 2.1 per cent.

The&nbsp;Nifty&nbsp;Auto index, which has climbed 23 per cent from a record low in July, was down 0.40 per cent. The index still lost 10 per cent this&nbsp;year&nbsp;as automakers battled a crippling slowdown that forced them to cut production and jobs.

"When the market is near an all-time high, there's a probability of a correction ... we are seeing that today," said Siddharth Sedani, head of equity advisory at Anand Rathi Financial Services Ltd in Mumbai.

The&nbsp;Nifty&nbsp;50 last hit an intraday record high of 12,293.90 on December&nbsp;20.

Indian stocks slipped on Tuesday but hovered around their all-time highs as investors booked year-end profits, while the benchmark Nifty index was poised for a nearly 13 per cent gain in 2019.

Indian stocks slipped on Tuesday but hovered around their all-time highs as investors booked year-end profits, while the benchmark Nifty index was poised for a nearly 13 per cent gain in 2019. On the last trading day of the year, the NSE Nifty 50 index was down 0.36 per cent at 12,211.60 by 0445 GMT, while the S&P BSE Sensex was trading 0.38 per cent lower at 41,401.35. The Nifty has risen 12.5 per cent so far this year, while the Sensex has climbed 14.8 per cent. Both blue-chip indexes hit fresh record highs this year and have gained sharply more than in 2018, even as economic growth slipped to a five-year low this year amid a slowdown in demand for everything from cars to cookies. Still, the gap between large-cap shares and their smaller peers was stark. The BSE MidCap index has shed 3 per cent this year, while the BSE SmallCap index is down 7 per cent. Asian equities also slipped on Tuesday, mirroring declines on Wall Street, as investors locked in gains made since the United States and China deal this month. The Nifty Bank index and the Nifty PSU Bank index, which have each rallied roughly 17 per cent since early October, were down 0.40 per cent and 0.33 per cent, respectively. Twelve of the 13 stocks on the Nifty PSU Bank index, which tracks state-run lenders, were in the red. Indian Overseas Bank fell 2.1 per cent. The Nifty Auto index, which has climbed 23 per cent from a record low in July, was down 0.40 per cent. The index still lost 10 per cent this year as automakers battled a crippling slowdown that forced them to cut production and jobs. "When the market is near an all-time high, there's a probability of a correction ... we are seeing that today," said Siddharth Sedani, head of equity advisory at Anand Rathi Financial Services Ltd in Mumbai. The Nifty 50 last hit an intraday record high of 12,293.90 on December 20.

Indian shares slip on year-end profit booking; Nifty set for 13% jump in 2019

Asian&nbsp;shares&nbsp;slipped on the last trading day of the&nbsp;decade, echoing falls on Wall Street, as&nbsp;investors&nbsp;locked in gains made since <a href="https://www.wionews.com/world/phase-one-trade-deal-reached-with-us-china-268186">the United States and China</a> reached a preliminary trade deal earlier this month.

Early in the&nbsp;Asian&nbsp;trading session, MSCI's broadest index of Asia-Pacific&nbsp;shares&nbsp;outside Japan was down 0.39 per cent, its weakest performance since December&nbsp;4. For the month, the index is still up 5.7 per cent.

The index has gained 16 per cent&nbsp;this year, a sharp turnaround from a 16.2 per cent drop last year but lagging a 23.8 per cent year-to-date gain in MSCI's&nbsp;global&nbsp;share index.

Australian&nbsp;shares&nbsp;were 1.69 per cent&nbsp;lower&nbsp;and Hong Kong's Hang Seng dropped 0.32 per cent.

"We are seeing some profit-taking into year-end," said Ryan Felsman, senior economist at CommSec in Sydney, adding that progress on resolving the 17-month-long US-China trade war remained a positive factor for&nbsp;investors&nbsp;into the new year.

The White House's trade adviser on Monday said the US-China Phase 1 trade deal would likely be signed in the next week, but said confirmation would come from President Donald Trump or the US&nbsp;Trade Representative.

"We think that the&nbsp;global&nbsp;growth situation is improving, we're seeing better industrial&nbsp;profits&nbsp;in China ... green shoots in the manufacturing sector on the back of an improvement in the trade situation is a key catalyst going forward," he said.

While easing trade concerns and steps toward a resolution of Britain's exit from the European Union have helped reduce some near-term market uncertainty,&nbsp;investors&nbsp;remain uneasy with a recession seen as inevitable in the new&nbsp;decade.

Positive Chinese manufacturing data, which showed factory activity in China expanded for a second straight month in December, nudged China's blue-chip CSI300 index 0.1 per cent&nbsp;higher, extending the more than 33 per cent&nbsp;gain seen this year.

China's modest gains built on Monday's rally, which was driven by a combination of strong retail sales growth and hopes that a new benchmark for floating-rate loans could&nbsp;lower&nbsp;borrowing costs.

<a href="https://www.wionews.com/business-economy/global-markets-china-lifts-asian-shares-oil-up-on-drawdowns-mideast-tensions-270929">Markets</a>&nbsp;in Japan and South Korea were closed for a holiday.

The falls in Asia came after profit-taking pushed the Dow Jones Industrial Average down 0.64 per cent&nbsp;to 28,462.14, the S&amp;P 500 0.58 per cent&nbsp;lower&nbsp;to 3,221.29 and the Nasdaq Composite off 0.67 per cent&nbsp;to 8,945.99.

<a href="https://www.wionews.com/world/us-treasury-secretary-mnuchin-says-trade-deal-with-china-to-boost-global-economy-268327">US&nbsp;Treasury</a> futures were&nbsp;lower, reflecting an implied yield of 1.82 per cent. That followed a rise in benchmark US&nbsp;Treasury yields on Monday that pushed the US&nbsp;two-year, 10-year yield curve to its steepest in 14 months.

The dollar continued to weaken against the yen, dropping 0.12 per cent&nbsp;to 108.73, and the euro strengthened 0.16% to buy $1.1215.

The dollar index, which tracks the greenback against a basket of six major rivals, was 0.06 per cent&nbsp;lower&nbsp;at 96.686.

<a href="https://www.wionews.com/business-economy/oil-gains-on-us-crude-stocks-fall-opec-comments-on-slower-us-shale-growth-262061">US&nbsp;crude</a> dipped 0.18 per cent&nbsp;to $61.57 a barrel and Brent crude shed 0.15 per cent&nbsp;to $66.57 per barrel.

Gold continued its rally on a weakening dollar. On the spot market, the precious metal was changing hands at $1,520.16 per ounce, up 0.33 per cent.

Asian shares slipped on the last trading day of the decade, echoing falls on Wall Street, as investors locked in gains made since the United States and China reached a preliminary trade deal earlier this month.

Asian shares slipped on the last trading day of the decade, echoing falls on Wall Street, as investors locked in gains made since the United States and China reached a preliminary trade deal earlier this month. Early in the Asian trading session, MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.39 per cent, its weakest performance since December 4. For the month, the index is still up 5.7 per cent. The index has gained 16 per cent this year, a sharp turnaround from a 16.2 per cent drop last year but lagging a 23.8 per cent year-to-date gain in MSCI's global share index. Australian shares were 1.69 per cent lower and Hong Kong's Hang Seng dropped 0.32 per cent. "We are seeing some profit-taking into year-end," said Ryan Felsman, senior economist at CommSec in Sydney, adding that progress on resolving the 17-month-long US-China trade war remained a positive factor for investors into the new year. The White House's trade adviser on Monday said the US-China Phase 1 trade deal would likely be signed in the next week, but said confirmation would come from President Donald Trump or the US Trade Representative. "We think that the global growth situation is improving, we're seeing better industrial profits in China ... green shoots in the manufacturing sector on the back of an improvement in the trade situation is a key catalyst going forward," he said. While easing trade concerns and steps toward a resolution of Britain's exit from the European Union have helped reduce some near-term market uncertainty, investors remain uneasy with a recession seen as inevitable in the new decade. Positive Chinese manufacturing data, which showed factory activity in China expanded for a second straight month in December, nudged China's blue-chip CSI300 index 0.1 per cent higher, extending the more than 33 per cent gain seen this year. China's modest gains built on Monday's rally, which was driven by a combination of strong retail sales growth and hopes that a new benchmark for floating-rate loans could lower borrowing costs. Markets in Japan and South Korea were closed for a holiday. The falls in Asia came after profit-taking pushed the Dow Jones Industrial Average down 0.64 per cent to 28,462.14, the S&P 500 0.58 per cent lower to 3,221.29 and the Nasdaq Composite off 0.67 per cent to 8,945.99. US Treasury futures were lower, reflecting an implied yield of 1.82 per cent. That followed a rise in benchmark US Treasury yields on Monday that pushed the US two-year, 10-year yield curve to its steepest in 14 months. The dollar continued to weaken against the yen, dropping 0.12 per cent to 108.73, and the euro strengthened 0.16% to buy $1.1215. The dollar index, which tracks the greenback against a basket of six major rivals, was 0.06 per cent lower at 96.686. US crude dipped 0.18 per cent to $61.57 a barrel and Brent crude shed 0.15 per cent to $66.57 per barrel. Gold continued its rally on a weakening dollar. On the spot market, the precious metal was changing hands at $1,520.16 per ounce, up 0.33 per cent.

Global Markets: Asian shares lower as investors book decade-end profits

<a href="https://www.wionews.com/business-economy/oil-prices-tumble-ahead-of-opec-meeting-global-stocks-fall-265363">Oil&nbsp;prices</a>&nbsp;held&nbsp;steady&nbsp;on the final day of the year on Tuesday, heading for their&nbsp;biggest&nbsp;annual&nbsp;rise&nbsp;since&nbsp;2016, supported by a thaw in the prolonged <a href="https://www.wionews.com/opinions/us-china-trade-talks-free-trade-must-not-be-derailed-198923">US-China trade</a> dispute and supply cuts.

Brent crude futures for March delivery, the new front-month contract, were at $66.66 a barrel, down 1 cent, by 0258 GMT. Brent for February delivery closed on Monday at $68.44 .

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> (WTI) crude for February was down 3 cents at $61.65.

Brent has gained about 24 per cent&nbsp;in 2019 and WTI has&nbsp;risen roughly 36 per cent. Both benchmarks are set for their&nbsp;biggest&nbsp;yearly&nbsp;gain in three years, backed by a breakthrough in US-China trade talks and output cuts pledged by the Organization of Petroleum Exporting Countries (<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.

The White House's trade adviser said on Monday that the US-China Phase 1 trade deal would likely be signed in the next week.

"Oil&nbsp;prices&nbsp;have followed the general de-risking drift into year-end despite a&nbsp;rise&nbsp;in Middle East tensions and last week's bullish-for-oil-price inventory draws as the broader markets appear to be losing some of that holiday cheer," said Stephen Innes, chief Asia market strategist at AxiTrader.

Tensions remain high in the Middle East after <a href="https://www.wionews.com/world/us-airstrikes-kill-25-pro-iran-militia-fighters-in-iraq-and-syria-triggering-anger-271052">US&nbsp;airstrikes</a> on Sunday against the Katib Hezbollah militia group in Iraq and Syria. Operations resumed at Iraq's Nassiriya&nbsp;oilfield resumed on Monday after protesters briefly halted production.

Looking ahead, US&nbsp;crude inventories are expected to fall by about 3.2 million barrels in the week to December 27, heading for a third consecutive weekly fall, a preliminary Reuters poll showed on Monday. US&nbsp;stockpiles fell by 5.5 million barrels in the week to December&nbsp;20. The figures will be released on Friday.

Innes said traders would also closely watch the EIA's US&nbsp;October crude production figures, set to come out later on Tuesday.

"It's expected to show robust continuous growth in the agency's short-term outlook," he said.

The United States is on&nbsp;track&nbsp;to become a net petroleum exporter on an annual basis for the first time in 2020, with output expected to&nbsp;rise&nbsp;by 930,000 barrels per day (bpd) to a record of 13.18 million bpd next year, the EIA said earlier this month.

Brokers and analysts expect growing US&nbsp;supplies to offset cuts from OPEC in 2020 amid sluggish worldwide demand, weighing on&nbsp;oil&nbsp;prices.

"Oil&nbsp;prices, though largely expected to trade positive, will face headwinds from subdued global growth momentum and robust US&nbsp;shale output levels in the first quarter," said Benjamin Lu, analyst at Singapore-based brokerage Phillip Futures.

Oil prices held steady on the final day of the year on Tuesday, heading for their biggest annual rise since 2016, supported by a thaw in the prolonged US-China trade dispute and supply cuts.

Oil prices held steady on the final day of the year on Tuesday, heading for their biggest annual rise since 2016, supported by a thaw in the prolonged US-China trade dispute and supply cuts. Brent crude futures for March delivery, the new front-month contract, were at $66.66 a barrel, down 1 cent, by 0258 GMT. Brent for February delivery closed on Monday at $68.44 . US West Texas Intermediate (WTI) crude for February was down 3 cents at $61.65. Brent has gained about 24 per cent in 2019 and WTI has risen roughly 36 per cent. Both benchmarks are set for their biggest yearly gain in three years, backed by a breakthrough in US-China trade talks and output cuts pledged by the Organization of Petroleum Exporting Countries (OPEC) and its allies. The White House's trade adviser said on Monday that the US-China Phase 1 trade deal would likely be signed in the next week. "Oil prices have followed the general de-risking drift into year-end despite a rise in Middle East tensions and last week's bullish-for-oil-price inventory draws as the broader markets appear to be losing some of that holiday cheer," said Stephen Innes, chief Asia market strategist at AxiTrader. Tensions remain high in the Middle East after US airstrikes on Sunday against the Katib Hezbollah militia group in Iraq and Syria. Operations resumed at Iraq's Nassiriya oilfield resumed on Monday after protesters briefly halted production. Looking ahead, US crude inventories are expected to fall by about 3.2 million barrels in the week to December 27, heading for a third consecutive weekly fall, a preliminary Reuters poll showed on Monday. US stockpiles fell by 5.5 million barrels in the week to December 20. The figures will be released on Friday. Innes said traders would also closely watch the EIA's US October crude production figures, set to come out later on Tuesday. "It's expected to show robust continuous growth in the agency's short-term outlook," he said. The United States is on track to become a net petroleum exporter on an annual basis for the first time in 2020, with output expected to rise by 930,000 barrels per day (bpd) to a record of 13.18 million bpd next year, the EIA said earlier this month. Brokers and analysts expect growing US supplies to offset cuts from OPEC in 2020 amid sluggish worldwide demand, weighing on oil prices. "Oil prices, though largely expected to trade positive, will face headwinds from subdued global growth momentum and robust US shale output levels in the first quarter," said Benjamin Lu, analyst at Singapore-based brokerage Phillip Futures.

Oil prices steady, on track for biggest yearly rise since 2016

Factory&nbsp;activity in <a href="https://www.wionews.com/business-economy/tesla-begins-deliveries-of-china-made-model-3-cars-270899">China</a> expanded for a second straight month in December, as production quickened and export orders rose, offering some support for the manufacturing sector amid signs of progress in trade talks with the United States.

China's&nbsp;official Purchasing Managers' Index (PMI) was unchanged at 50.2 in December from November, the National Bureau of Statistics said on Tuesday and remained above the 50-point mark that separates monthly growth from contraction. November's gain had ended six straight months of contraction.

Analysts polled by sources expected the December PMI to be 50.1.

The better-than-expected readings suggested some recovery in the world's second-largest economy this month. Production rose at the fastest pace in over a year while the growth of total new orders remained buoyant, only a notch lower than a recent high hit last month.

December's expansion comes amid signs of improvement in <a href="https://www.wionews.com/world/phase-one-trade-deal-with-china-would-be-signed-very-shortly-donald-trump-269576">Sino-US&nbsp;trade talks</a>, which have boosted global investor confidence and helped Chinese manufacturers book new orders from abroad.

New export orders, in particular, rose for the first time since May 2018 in December.

China and the United States announced a Phase 1 agreement that would reduce some US&nbsp;tariffs in exchange for more Chinese purchases of American farm products, which analysts believed could stimulate&nbsp;China's&nbsp;exports and corporate investment in the near-term.

Profits at&nbsp;China's&nbsp;industrial firms grew at the fastest pace in eight months in November on quickening output and sales.

Factories continued to shed jobs in December, but the pace of reduction did not accelerate.

Over 25 million jobs were trimmed from the industrial sector from end-2013 to end-2018, mostly in labour-intensive industries, the latest economic census showed, as labour costs rose.

However, growth in&nbsp;China's&nbsp;services sector activity cooled in December.

The official non-manufacturing PMI dropped to 53.5, from an eight-month high of 54.4 in November, a separate survey showed.

<a href="https://www.wionews.com/pakistan/us-re-designates-pakistan-china-as-countries-curbing-religious-freedom-269447">Beijing</a> has relied on a strong services sector to offset manufacturing weakness. However, a broader economic slowdown since late last year has limited the sector's resilience.

China plans to set a lower economic growth target of around 6 per cent&nbsp;in 2020 from this year's 6-6.5 per cent, relying on increased state infrastructure spending to ward off a sharper slowdown.

Factory activity in China expanded for a second straight month in December, as production quickened and export orders rose, offering some support for the manufacturing sector amid signs of progress in trade talks with the United States.

Factory activity in China expanded for a second straight month in December, as production quickened and export orders rose, offering some support for the manufacturing sector amid signs of progress in trade talks with the United States. China's official Purchasing Managers' Index (PMI) was unchanged at 50.2 in December from November, the National Bureau of Statistics said on Tuesday and remained above the 50-point mark that separates monthly growth from contraction. November's gain had ended six straight months of contraction. Analysts polled by sources expected the December PMI to be 50.1. The better-than-expected readings suggested some recovery in the world's second-largest economy this month. Production rose at the fastest pace in over a year while the growth of total new orders remained buoyant, only a notch lower than a recent high hit last month. December's expansion comes amid signs of improvement in Sino-US trade talks, which have boosted global investor confidence and helped Chinese manufacturers book new orders from abroad. New export orders, in particular, rose for the first time since May 2018 in December. China and the United States announced a Phase 1 agreement that would reduce some US tariffs in exchange for more Chinese purchases of American farm products, which analysts believed could stimulate China's exports and corporate investment in the near-term. Profits at China's industrial firms grew at the fastest pace in eight months in November on quickening output and sales. Factories continued to shed jobs in December, but the pace of reduction did not accelerate. Over 25 million jobs were trimmed from the industrial sector from end-2013 to end-2018, mostly in labour-intensive industries, the latest economic census showed, as labour costs rose. However, growth in China's services sector activity cooled in December. The official non-manufacturing PMI dropped to 53.5, from an eight-month high of 54.4 in November, a separate survey showed. Beijing has relied on a strong services sector to offset manufacturing weakness. However, a broader economic slowdown since late last year has limited the sector's resilience. China plans to set a lower economic growth target of around 6 per cent in 2020 from this year's 6-6.5 per cent, relying on increased state infrastructure spending to ward off a sharper slowdown.

China's factory activity expands for second month as output, export orders pick up

Ride-hailing company&nbsp;<a href="https://www.wionews.com/world/uber-co-founder-travis-kalanick-to-leave-companys-board-270071">Uber&nbsp;Technologies Inc</a> and courier services provider&nbsp;Postmates&nbsp;Inc asked a US&nbsp;court to&nbsp;block&nbsp;a&nbsp;California&nbsp;labor&nbsp;law&nbsp;set to go into effect on Wednesday, arguing the bill violates the US&nbsp;Constitution.

In a&nbsp;lawsuit filed in Los Angeles federal court on Monday, the companies and two app-based drivers said the&nbsp;law, which would make it harder for&nbsp;gig&nbsp;economy companies to qualify their&nbsp;workers as independent contractors rather than employees, was irrational, vague and incoherent.

The office of&nbsp;California&nbsp;Attorney General Xavier Becerra said in a statement on Monday it was reviewing the complaint. The bill, called AB5, faces multiple legal challenges.

The&nbsp;law&nbsp;was signed by&nbsp;<a href="https://www.wionews.com/world/donald-trump-threatens-to-withhold-emergency-aid-from-fire-hit-california-259805">California&nbsp;Governor Gavin Newsom</a> in September and has garnered national attention, largely owing to the size of&nbsp;California's workforce and the state's leadership role in establishing policies that are frequently adopted by other states.

&nbsp;

Also Watch: Uber can't fix safety issues

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/paris-uber-cant-fix-safety-issues-267382/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

Backers of the bill, including labor groups, have argued the&nbsp;law&nbsp;protects&nbsp;workers' rights. By classifying the contractors as employees, the companies would be subject to labor&nbsp;laws that require higher pay and other benefits such as medical insurance.

The bill strikes at the heart of the "gig&nbsp;economy" business model of technology platforms like&nbsp;Uber,&nbsp;Postmates, <a href="https://www.wionews.com/world/ride-hailing-company-lyft-rises-in-wall-street-premier-206594">Lyft Inc</a>, DoorDash and others who rely heavily on the state's 450,000 contract&nbsp;workers, not full-time employees, to drive passengers or deliver food via app-based services.

Uber,&nbsp;Postmates&nbsp;and other app-based companies said the legislation compromises the flexibility prized by their workforce, and that fewer&nbsp;workers would be hired were they considered employees.

The companies in their Monday&nbsp;lawsuit called AB5 a "thinly veiled attempt" to target and harm&nbsp;gig&nbsp;economy businesses. Singling out app-based&nbsp;workers violates equal protection guaranteed under the constitutions of the United States and&nbsp;California, the companies argued.

"It irreparably harms network companies and app-based independent service providers by denying their constitutional rights to be treated the same as others to whom they are similarly situated," the&nbsp;lawsuit said.

The companies pointed to allegedly arbitrary exemptions of different non-gig&nbsp;worker&nbsp;groups, including salespeople, travel agents, construction truck drivers, and commercial fishermen.

The full impact of the bill remains unclear in the short term, but the&nbsp;lawsuit cited a study saying the bill would increase ride-hailing company Lyft's operating costs by 20 per cent&nbsp;and lead to some 300,000 fewer drivers in&nbsp;<a href="https://www.wionews.com/world/nasas-trip-to-mars-begins-in-california-clean-room-270678">California</a>.

Uber, Lyft and food delivery company DoorDash have earmarked $90 million for a planned November 2020 ballot initiative that would exempt them from the&nbsp;law.

Ride-hailing company Uber Technologies Inc and courier services provider Postmates Inc asked a US court to block a California labor law set to go into effect on Wednesday, arguing the bill violates the US Constitution.

Ride-hailing company Uber Technologies Inc and courier services provider Postmates Inc asked a US court to block a California labor law set to go into effect on Wednesday, arguing the bill violates the US Constitution. In a lawsuit filed in Los Angeles federal court on Monday, the companies and two app-based drivers said the law, which would make it harder for gig economy companies to qualify their workers as independent contractors rather than employees, was irrational, vague and incoherent. The office of California Attorney General Xavier Becerra said in a statement on Monday it was reviewing the complaint. The bill, called AB5, faces multiple legal challenges. The law was signed by California Governor Gavin Newsom in September and has garnered national attention, largely owing to the size of California's workforce and the state's leadership role in establishing policies that are frequently adopted by other states. Also Watch: Uber can't fix safety issues × Backers of the bill, including labor groups, have argued the law protects workers' rights. By classifying the contractors as employees, the companies would be subject to labor laws that require higher pay and other benefits such as medical insurance. The bill strikes at the heart of the "gig economy" business model of technology platforms like Uber, Postmates, Lyft Inc, DoorDash and others who rely heavily on the state's 450,000 contract workers, not full-time employees, to drive passengers or deliver food via app-based services. Uber, Postmates and other app-based companies said the legislation compromises the flexibility prized by their workforce, and that fewer workers would be hired were they considered employees. The companies in their Monday lawsuit called AB5 a "thinly veiled attempt" to target and harm gig economy businesses. Singling out app-based workers violates equal protection guaranteed under the constitutions of the United States and California, the companies argued. "It irreparably harms network companies and app-based independent service providers by denying their constitutional rights to be treated the same as others to whom they are similarly situated," the lawsuit said. The companies pointed to allegedly arbitrary exemptions of different non-gig worker groups, including salespeople, travel agents, construction truck drivers, and commercial fishermen. The full impact of the bill remains unclear in the short term, but the lawsuit cited a study saying the bill would increase ride-hailing company Lyft's operating costs by 20 per cent and lead to some 300,000 fewer drivers in California. Uber, Lyft and food delivery company DoorDash have earmarked $90 million for a planned November 2020 ballot initiative that would exempt them from the law.

Uber, Postmates sue to block California gig worker law, claiming it's unconstitutional

<a href="https://www.wionews.com/business-economy/ford-ready-to-sell-russian-plants-says-companies-have-shown-interest-225433">Ford</a>&nbsp;Motor Co said on Monday&nbsp;reservations&nbsp;were&nbsp;full&nbsp;for the&nbsp;high-end&nbsp;Mustang&nbsp;Mach-E First Edition&nbsp;<a href="https://www.wionews.com/business-economy/tesla-unveils-first-ever-electric-pickup-truck-263785">electric</a>&nbsp;sport utility vehicle.

The No. 2 US&nbsp;automaker unveiled the&nbsp;electric&nbsp;Mustang&nbsp;crossover on November&nbsp;17 and began taking&nbsp;reservations&nbsp;with a refundable deposit of $500.

There are four other&nbsp;versions of the&nbsp;Mach-E in addition to the First Edition.

<img alt="Ford Motor all-new electric Mustang Mach-E vehicle" data-entity-type="file" data-entity-uuid="25afb379-2e4d-48d6-b802-13f85437463a" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2828%29_3.jpg" />

Ford&nbsp;did not provide details on how many&nbsp;reservations&nbsp;it took for the First Edition, which sells for about $60,000, but has said global production in the first 12 months for all&nbsp;versions of the&nbsp;Mach-E is limited to 50,000 vehicles.

The&nbsp;Mach-E has become a&nbsp;high-profile test for a restructuring at&nbsp;Ford&nbsp;that has been marred by profit warnings, costly quality problems and the troubled launch this year of another important vehicle, the&nbsp;Ford&nbsp;Explorer sport-utility.

The&nbsp;Mach-E was unveiled in Los Angeles in November. It will be built in Mexico, the first of more than a dozen all-electric&nbsp;vehicles&nbsp;Ford&nbsp;plans to launch by 2022 with an investment of $11.5 billion (8.7 billion pounds). The&nbsp;Mach-E's design was inspired by the classic 1960s&nbsp;Mustang&nbsp;sports car and is meant to challenge&nbsp;electric&nbsp;carmaker <a href="https://www.wionews.com/business-economy/tesla-begins-deliveries-of-china-made-model-3-cars-270899">Tesla</a> Inc.

More than 80 per cent&nbsp;of US&nbsp;customers are reserving&nbsp;Mach-E with an extended range battery, while about 55 per cent&nbsp;opted for an all-wheel drive,&nbsp;Ford&nbsp;said.

More than 25 per cent&nbsp;of the&nbsp;reservations&nbsp;are from California, with nearly 30 per cent&nbsp;of US&nbsp;customers choosing&nbsp;Mach-E GT, the company said.

Ford Motor Co said on Monday reservations were full for the high-end Mustang Mach-E First Edition electric sport utility vehicle. The No. 2 US automaker unveiled the electric Mustang crossover on November 17 and began taking reservations with a refundable deposit of $500.

Ford Motor Co said on Monday reservations were full for the high-end Mustang Mach-E First Edition electric sport utility vehicle. The No. 2 US automaker unveiled the electric Mustang crossover on November 17 and began taking reservations with a refundable deposit of $500. There are four other versions of the Mach-E in addition to the First Edition. Ford did not provide details on how many reservations it took for the First Edition, which sells for about $60,000, but has said global production in the first 12 months for all versions of the Mach-E is limited to 50,000 vehicles. The Mach-E has become a high-profile test for a restructuring at Ford that has been marred by profit warnings, costly quality problems and the troubled launch this year of another important vehicle, the Ford Explorer sport-utility. The Mach-E was unveiled in Los Angeles in November. It will be built in Mexico, the first of more than a dozen all-electric vehicles Ford plans to launch by 2022 with an investment of $11.5 billion (8.7 billion pounds). The Mach-E's design was inspired by the classic 1960s Mustang sports car and is meant to challenge electric carmaker Tesla Inc. More than 80 per cent of US customers are reserving Mach-E with an extended range battery, while about 55 per cent opted for an all-wheel drive, Ford said. More than 25 per cent of the reservations are from California, with nearly 30 per cent of US customers choosing Mach-E GT, the company said.

Ford says reservations full for high end version of electric Mustang Mach-E

Huawei Technologies on Tuesday said its full-year&nbsp;revenue&nbsp;would likely&nbsp;jump&nbsp;18 per cent&nbsp;in&nbsp;2019&nbsp;to $122 billion, lower than its earlier projections, as a US&nbsp;trade blacklisting curbed growth and disrupted its ability to source key parts.

The world's biggest maker of telecom network equipment and the number&nbsp;two&nbsp;manufacturer of smartphones was all but banned by the United States in May from doing business with US&nbsp;companies, preventing its access to technology like Google's Android operating system.

The <a href="https://www.wionews.com/world/white-house-considered-kicking-huawei-out-of-us-banking-system-sources-265973">US&nbsp;government</a> alleges Huawei equipment poses national security risks because it could be used by the <a href="https://www.wionews.com/world/huawei-willing-to-sign-no-spy-agreement-with-us-government-chairman-224403">Chinese government to spy</a> on users. Huawei has repeatedly denied its products are a security threat.

Huawei's&nbsp;Rotating Chairman Eric Xu revealed the numbers in a New Year's message to employees and customers in which he also forecasted&nbsp;2020&nbsp;to be a "difficult year', saying that the firm was unlikely to grow as rapidly as it did in the first half of this year.

Its estimate of&nbsp;18 per cent&nbsp;revenue&nbsp;growth in&nbsp;2019&nbsp;is less than in 2018 when&nbsp;Huawei's&nbsp;annual&nbsp;revenue&nbsp;rose 19.5 per cent.

The company did not break down fourth-quarter figures but according to calculations based on its previous statements,&nbsp;revenue&nbsp;in the quarter to end December&nbsp;31 rose to $23.28 billion, up 3.9 per cent&nbsp;from a year earlier and slower than the 27 per cent&nbsp;increase it reported in the third quarter.

"The external environment is becoming more complicated than ever, and downward pressure on the global economy has intensified," he said.

"In the long term, the US government will continue to suppress the development of leading technology – a challenging environment for Huawei to survive and thrive."

Xu also said that Huawei shipped 240 million smartphones this year, a 20 per cent&nbsp;increase from 2018. Huawei has mainly sold smartphones that were launched before the ban.

<a href="https://www.wionews.com/business-economy/smartwatch-revwith-2-week-battery-life-and-fitness-tracking-is-huawei-watch-gt-2-really-worth-the-price-266811">The newest</a> Mate 30 smartphone first went on sale in September but it cannot access a licensed version of Google's Android operating system because of the trade curbs.

Xu said in his letter that Huawei would in&nbsp;2020&nbsp;"go all out" to build its Huawei Mobile Services ecosystem, which comprises services such as cloud storage and an app gallery, describing it as "the foundation of our ability to sell smart devices in markets outside China".

It is also developing its own mobile operating system known as Harmony, although analysts are skeptical that the system is a viable alternative.

Huawei's&nbsp;reputation was dented earlier this month after details of the dismissal and wrongful detention of a former employee went viral.

In his letter, Xu said they would continue to remove mediocre managers and complacent employees as Huawei needed to rid the company of complacency, and that they would remove managers performing in the bottom 10% every year.

Huawei Technologies on Tuesday said its full-year revenue would likely jump 18 per cent in 2019 to $122 billion, lower than its earlier projections, as a US trade blacklisting curbed growth and disrupted its ability to source key parts.

Huawei Technologies on Tuesday said its full-year revenue would likely jump 18 per cent in 2019 to $122 billion, lower than its earlier projections, as a US trade blacklisting curbed growth and disrupted its ability to source key parts. The world's biggest maker of telecom network equipment and the number two manufacturer of smartphones was all but banned by the United States in May from doing business with US companies, preventing its access to technology like Google's Android operating system. The US government alleges Huawei equipment poses national security risks because it could be used by the Chinese government to spy on users. Huawei has repeatedly denied its products are a security threat. Huawei's Rotating Chairman Eric Xu revealed the numbers in a New Year's message to employees and customers in which he also forecasted 2020 to be a "difficult year', saying that the firm was unlikely to grow as rapidly as it did in the first half of this year. Its estimate of 18 per cent revenue growth in 2019 is less than in 2018 when Huawei's annual revenue rose 19.5 per cent. The company did not break down fourth-quarter figures but according to calculations based on its previous statements, revenue in the quarter to end December 31 rose to $23.28 billion, up 3.9 per cent from a year earlier and slower than the 27 per cent increase it reported in the third quarter. "The external environment is becoming more complicated than ever, and downward pressure on the global economy has intensified," he said. "In the long term, the US government will continue to suppress the development of leading technology – a challenging environment for Huawei to survive and thrive." Xu also said that Huawei shipped 240 million smartphones this year, a 20 per cent increase from 2018. Huawei has mainly sold smartphones that were launched before the ban. The newest Mate 30 smartphone first went on sale in September but it cannot access a licensed version of Google's Android operating system because of the trade curbs. Xu said in his letter that Huawei would in 2020 "go all out" to build its Huawei Mobile Services ecosystem, which comprises services such as cloud storage and an app gallery, describing it as "the foundation of our ability to sell smart devices in markets outside China". It is also developing its own mobile operating system known as Harmony, although analysts are skeptical that the system is a viable alternative. Huawei's reputation was dented earlier this month after details of the dismissal and wrongful detention of a former employee went viral. In his letter, Xu said they would continue to remove mediocre managers and complacent employees as Huawei needed to rid the company of complacency, and that they would remove managers performing in the bottom 10% every year.

Huawei's 2019 revenue to jump 18%, forecasts 'difficult' 2020

Residents in Quito have opened their businesses, headed to work and continued their daily lives, a day after President Lenín Moreno and indigenous leaders struck a deal to cancel a disputed austerity package.

WION Wallet: Normalcy returns in Ecuador

<a href="https://www.wionews.com/business-economy/gold-prices-steady-as-market-awaits-united-states-employment-report-253433">Gold prices</a> rose to their highest in more than two months on Monday in thin year-end trading as the dollar dipped and US&nbsp;military strikes in the Middle East drove investors towards the safe-haven metal.

Spot gold rose 0.3 per cent&nbsp;to $1,514.94 per ounce by 0359 GMT. Earlier in the session, prices hit their highest since October&nbsp;25 at $1,515.80. US&nbsp;gold futures were unchanged at $1,518.

"We are looking at pre-positioning for next year and a rebalancing of portfolios ahead of year-end, overlaid with very low liquidity levels, that are essentially exacerbating the volatility and making these moves appear exaggerated," said Ilya Spivak, a senior currency strategist at DailyFx.

Gold is receiving modest support from the <a href="https://www.wionews.com/world/25-isis-terrorists-killed-in-us-airstrikes-in-iraq-175533">US&nbsp;airstrikes</a> in the middle east, Spivak added.

The US&nbsp;military on Sunday carried out successful airstrikes in Iraq and Syria against an Iran-backed militia group, spurring market uncertainty and geopolitical tensions.

Gold is considered a safe investment in times of geopolitical and economic uncertainty.

Further helping gold, the dollar slipped against a basket of rivals, making gold cheaper for holders of other currencies.

Gold prices have risen about 18 per cent this year and we're on track for its best year since 2010, mainly due to the 17-month-long Sino-US&nbsp;tariff war and its impact on global economic growth.

"But from a pure macro and risk perspective, it currently makes little sense for gold to be trading above $1,500/oz. The surging equity market and higher gold prices seldom, if ever, exist in the same time frame and simultaneously moving higher," said Stephen Innes, a market strategist at AxiTrader in a note.

On the trade front, China's Commerce Ministry on Sunday said it has "proactively dealt with" trade frictions with US&nbsp;this year.

Market participants, however, remained wary even after Washington and Beijing have made progress in their tariff dispute and official ratification of an initial trade deal was close.

Indicative of investor sentiment, holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, rose 0.1 per cent&nbsp;to 893.25 tonnes on Friday, the highest since November 29.

Among other precious metals, silver rose 0.9 per cent&nbsp;to$17.92 per ounce, while platinum climbed 0.2 per cent&nbsp;to $946.62. Palladium was flat at $1,905.28 per ounce.

Gold prices rose to their highest in more than two months on Monday in thin year-end trading as the dollar dipped and US military strikes in the Middle East drove investors towards the safe-haven metal.

Gold prices rose to their highest in more than two months on Monday in thin year-end trading as the dollar dipped and US military strikes in the Middle East drove investors towards the safe-haven metal. Spot gold rose 0.3 per cent to $1,514.94 per ounce by 0359 GMT. Earlier in the session, prices hit their highest since October 25 at $1,515.80. US gold futures were unchanged at $1,518. "We are looking at pre-positioning for next year and a rebalancing of portfolios ahead of year-end, overlaid with very low liquidity levels, that are essentially exacerbating the volatility and making these moves appear exaggerated," said Ilya Spivak, a senior currency strategist at DailyFx. Gold is receiving modest support from the US airstrikes in the middle east, Spivak added. The US military on Sunday carried out successful airstrikes in Iraq and Syria against an Iran-backed militia group, spurring market uncertainty and geopolitical tensions. Gold is considered a safe investment in times of geopolitical and economic uncertainty. Further helping gold, the dollar slipped against a basket of rivals, making gold cheaper for holders of other currencies. Gold prices have risen about 18 per cent this year and we're on track for its best year since 2010, mainly due to the 17-month-long Sino-US tariff war and its impact on global economic growth. "But from a pure macro and risk perspective, it currently makes little sense for gold to be trading above $1,500/oz. The surging equity market and higher gold prices seldom, if ever, exist in the same time frame and simultaneously moving higher," said Stephen Innes, a market strategist at AxiTrader in a note. On the trade front, China's Commerce Ministry on Sunday said it has "proactively dealt with" trade frictions with US this year. Market participants, however, remained wary even after Washington and Beijing have made progress in their tariff dispute and official ratification of an initial trade deal was close. Indicative of investor sentiment, holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, rose 0.1 per cent to 893.25 tonnes on Friday, the highest since November 29. Among other precious metals, silver rose 0.9 per cent to$17.92 per ounce, while platinum climbed 0.2 per cent to $946.62. Palladium was flat at $1,905.28 per ounce.

Gold hits two-month peak on dollar weakness, US strikes

<a href="https://www.wionews.com/business-economy/oil-prices-tumble-ahead-of-opec-meeting-global-stocks-fall-265363">Oil prices</a> traded at three-month highs on Monday, underpinned by optimism over an expected <a href="https://www.wionews.com/business-economy/gold-prices-steady-as-us-china-trade-deal-doubts-linger-263135">US-China trade deal</a>, while traders kept a close eye on the Middle East following a <a href="https://www.wionews.com/south-asia/us-airstrike-kills-25-is-terrorists-in-afghanistan-32150">US&nbsp;airstrike</a>.

Markets showed little initial reaction to news of the US&nbsp;strikes in Iraq and Syria against an Iran-backed militia group, even as US&nbsp;officials warned "additional actions" may be taken.

West Texas Intermediate (<a href="https://www.wionews.com/business-economy/crude-oil-prices-fall-1-on-fears-for-global-economy-233148">WTI</a>) crude futures edged up 5 cents to $61.77 a barrel by 0529 GMT. The US&nbsp;benchmark is up about 36&nbsp;per cent&nbsp;so far this year.

Brent crude futures were at $68.36 a barrel, up 20 cents, or 0.3 per cent. The international benchmark has risen around 27 per cent&nbsp;in 2019.

"(Trading) has been relatively flat due to lack of market participants in the holiday season," said market analyst Margaret Yang of CMC Markets.

"Oil prices have reached their highest level since the Saudi oil field attack in Mid Sep, and thus traders are also cautious about profit-taking possibilities," she added.

On Sunday, China's Commerce Ministry said it is in close touch with the United States on the signing of a long-awaited trade deal.

The two countries on December&nbsp;13 announced a "Phase one" agreement that reduces some US&nbsp;tariffs in exchange for what US&nbsp;officials said would be a big jump in Chinese purchases of American farm products and other goods.

Oil prices were also supported by declining US&nbsp;crude stocks which 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.

In the Middle East, the United States carried out air strikes on Sunday in Iraq and Syria against the Kataib Hezbollah militia group, while protesters in Iraq on Saturday forced the closure of its southern Nassiriya oilfield.

US&nbsp;officials said the air strikes in response to the killing of a US&nbsp;civilian contractor in a rocket attack on an Iraqi military base were successful but warned that "additional actions" may still be taken.

Iraq's oil ministry said the production halt at the Nassiriya oilfield will not affect the country's exports as it will use the additional output from southern oilfields in Basra.

Elsewhere, Libyan state oil firm NOC said it is considering the closure of its western Zawiya port and evacuating staff from the refinery located there due to clashes nearby.

However, the holiday season meant "oil will continue to struggle for meaningful moves," said Edward Moya, analyst at brokerage OANDA.

Oil prices traded at three-month highs on Monday, underpinned by optimism over an expected US-China trade deal, while traders kept a close eye on the Middle East following a US airstrike.

Oil prices traded at three-month highs on Monday, underpinned by optimism over an expected US-China trade deal, while traders kept a close eye on the Middle East following a US airstrike. Markets showed little initial reaction to news of the US strikes in Iraq and Syria against an Iran-backed militia group, even as US officials warned "additional actions" may be taken. West Texas Intermediate (WTI) crude futures edged up 5 cents to $61.77 a barrel by 0529 GMT. The US benchmark is up about 36 per cent so far this year. Brent crude futures were at $68.36 a barrel, up 20 cents, or 0.3 per cent. The international benchmark has risen around 27 per cent in 2019. "(Trading) has been relatively flat due to lack of market participants in the holiday season," said market analyst Margaret Yang of CMC Markets. "Oil prices have reached their highest level since the Saudi oil field attack in Mid Sep, and thus traders are also cautious about profit-taking possibilities," she added. On Sunday, China's Commerce Ministry said it is in close touch with the United States on the signing of a long-awaited trade deal. The two countries on December 13 announced a "Phase one" agreement that reduces some US tariffs in exchange for what US officials said would be a big jump in Chinese purchases of American farm products and other goods. Oil prices were also supported by declining US crude stocks which 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. In the Middle East, the United States carried out air strikes on Sunday in Iraq and Syria against the Kataib Hezbollah militia group, while protesters in Iraq on Saturday forced the closure of its southern Nassiriya oilfield. US officials said the air strikes in response to the killing of a US civilian contractor in a rocket attack on an Iraqi military base were successful but warned that "additional actions" may still be taken. Iraq's oil ministry said the production halt at the Nassiriya oilfield will not affect the country's exports as it will use the additional output from southern oilfields in Basra. Elsewhere, Libyan state oil firm NOC said it is considering the closure of its western Zawiya port and evacuating staff from the refinery located there due to clashes nearby. However, the holiday season meant "oil will continue to struggle for meaningful moves," said Edward Moya, analyst at brokerage OANDA.

Oil edges up on trade optimism, eyes on Middle East tensions

&nbsp;Indian shares rose modestly on Monday as blue-chip stocks moved in a tight range, with <a href="https://www.wionews.com/business-economy/india-incs-foreign-borrowings-down-45-in-january-2019-201096">Power Grid Corp</a> and <a href="https://www.wionews.com/india-news/ioc-bpcl-keen-to-acquire-gail-which-wants-to-merge-with-ongc-27730">GAIL Ltd</a> gaining about 1.5 per cent&nbsp;each.

In the penultimate trading session of the year, the <a href="https://www.wionews.com/business-economy/sensex-nifty-close-higher-financials-gain-269350">NSE Nifty 50 index</a> was up 0.20 per cent&nbsp;at 12,270.65 by 0438 GMT, while the S&amp;P BSE Sensex was 0.21&nbsp;per cent&nbsp;higher at 41,661.65.

The Nifty has climbed 13&nbsp;per cent&nbsp;so far in 2019, while Sensex has gained 15.6 per cent.

Asian stock markets hovered around an 18-month high on Monday, as Chinese equities gained after an upbeat forecast for retail sales and expectations that a new benchmark for loans could lower borrowing costs and boost growth.

Vodafone Idea Ltd was the outlier on the index with a nearly 7&nbsp;per cent&nbsp;gain. Rival telecom firm Bharti Airtel Ltd hiked prices on its prepaid plans starting Sunday, according to media reports.

"Market (is) likely to stay rangebound ahead of the year-end," analysts at Motilal Oswal Financial Services said in a report.

Meanwhile, India's small- and mid-cap stocks rose more than their larger peers. The S&amp;P BSE MidCap index was up 0.4 per cent, while the S&amp;P BSE SmallCap index gained 0.56 per cent.

"The fact that small- and mid-caps have started to perform has given some boost to sentiment," said Deepak Jasani, head of retail research at HDFC Securities in Mumbai. "Small- and mid caps have underperformed for two years and they do have value."

Shares in Prince Pipes and Fittings fell 10.1 per cent&nbsp;in their stock market debut. The polymer pipes manufacturer's listing comes as Indian initial public offerings tumbled to a 4-year low by value in 2019 as the economy slowed.

Shares in cigarettes-to-hotels conglomerate <a href="https://www.wionews.com/business-economy/itc-chairman-y-c-deveshwar-passes-away-217709">ITC</a> rose 1.1 per cent, while those in Power Grid Corp of India and GAIL rose about 1&nbsp;per cent&nbsp;each.

The gains in the latter two stocks came even as the PTI news agency reported that India's department of telecom had ruled out any relief from its side on the dues owed to it by Power Grid, GAIL, and other non-telecom companies.

Indian shares rose modestly on Monday as blue-chip stocks moved in a tight range, with Power Grid Corp and GAIL Ltd gaining about 1.5 per cent each. In the penultimate trading session of the year, the NSE Nifty 50 index was up 0.

Indian shares rose modestly on Monday as blue-chip stocks moved in a tight range, with Power Grid Corp and GAIL Ltd gaining about 1.5 per cent each. In the penultimate trading session of the year, the NSE Nifty 50 index was up 0.20 per cent at 12,270.65 by 0438 GMT, while the S&P BSE Sensex was 0.21 per cent higher at 41,661.65. The Nifty has climbed 13 per cent so far in 2019, while Sensex has gained 15.6 per cent. Asian stock markets hovered around an 18-month high on Monday, as Chinese equities gained after an upbeat forecast for retail sales and expectations that a new benchmark for loans could lower borrowing costs and boost growth. Vodafone Idea Ltd was the outlier on the index with a nearly 7 per cent gain. Rival telecom firm Bharti Airtel Ltd hiked prices on its prepaid plans starting Sunday, according to media reports. "Market (is) likely to stay rangebound ahead of the year-end," analysts at Motilal Oswal Financial Services said in a report. Meanwhile, India's small- and mid-cap stocks rose more than their larger peers. The S&P BSE MidCap index was up 0.4 per cent, while the S&P BSE SmallCap index gained 0.56 per cent. "The fact that small- and mid-caps have started to perform has given some boost to sentiment," said Deepak Jasani, head of retail research at HDFC Securities in Mumbai. "Small- and mid caps have underperformed for two years and they do have value." Shares in Prince Pipes and Fittings fell 10.1 per cent in their stock market debut. The polymer pipes manufacturer's listing comes as Indian initial public offerings tumbled to a 4-year low by value in 2019 as the economy slowed. Shares in cigarettes-to-hotels conglomerate ITC rose 1.1 per cent, while those in Power Grid Corp of India and GAIL rose about 1 per cent each. The gains in the latter two stocks came even as the PTI news agency reported that India's department of telecom had ruled out any relief from its side on the dues owed to it by Power Grid, GAIL, and other non-telecom companies.

Sensex, Nifty edge higher in rangebound trade; GAIL, Power Grid rise

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