WION's business Desk brings you this daily round up of global stories from the world of business and economy.

The Oracle of Pasadena: Charles Munger's impact on investing, business, and beyond

Warren Buffett's longtime confidant and powerful vice chairman of Berkshire Hathaway, Charles Munger, passed away on Tuesday at the age of 99. Munger's journey began when he worked for Buffett's grandfather during the Great Depression and culminated in his pivotal role in Berkshire's success.

<a href="https://www.wionews.com/business-economy/the-oracle-of-pasadena-charles-mungers-impact-on-investing-business-and-beyond-664149">Read more here&nbsp;</a>

Emerging economies will be the stars of the Asia-Pacific region

In spite of the slowdown in China's economy, Asia-Pacific nations—led by developing economies—remain resilient, according to S&amp;P Global Ratings' most recent economic assessment.

<a href="https://www.wionews.com/business-economy/emerging-economies-will-be-the-stars-of-the-asia-pacific-region-heres-why-664168">Read more here&nbsp;</a>

Record-breaking Cyber Monday: Americans spend $12.4 bn amid economic headwinds

US shoppers spent $12.4 billion on Cyber Monday, despite economic difficulties, demonstrating the retail sector's resiliency as savings from the pandemic era disappear while interest rates rise.

<a href="https://www.wionews.com/business-economy/record-breaking-cyber-monday-americans-spend-124-bn-amid-economic-headwinds-664143">Read more here&nbsp;</a>

2024 election to propel US dollar amid, predicts JPMorgan. Here's why

Analysts at JPMorgan predict that the possibility of a more intense trade war will boost the dollar's standing in the 2024 US presidential race, which is expected to feature President Joe Biden and former President Donald Trump.

<a href="https://www.wionews.com/business-economy/2024-election-to-propel-us-dollar-amid-predicts-jpmorgan-heres-why-664155">Read more here&nbsp;</a>

Wall Street talent war: Banks engage in cutthroat competition for AI experts

Wall Street firms are scooping up rival talent in an intense battle for the brightest minds in artificial intelligence (AI), with Goldman Sachs suffering a significant setback in the last 12 months.

<a href="https://www.wionews.com/business-economy/wall-street-talent-war-banks-engage-in-cutthroat-competition-for-ai-experts-664162">Read more here</a>

US chip maker Micron stock dips despite upbeat earnings forecast

The shares of Micron Technology, the top US manufacturer of semiconductors for computer memory, fell on Monday, marking the company's biggest decrease in the previous two months.

<a href="https://www.wionews.com/business-economy/us-chip-maker-micron-stock-dips-despite-upbeat-earnings-forecast-664169">Read more here&nbsp;</a>

Fraudulent pandemic-era loans cost UK $1.8 bn: Report

Post the Covid-19 pandemic, banks that gave small businesses loans that ultimately proved out to be fraudulent received payments totalling $1.8 billion from the UK government.

<a href="https://www.wionews.com/business-economy/fraudulent-pandemic-era-loans-cost-uk-18-bn-report-664205">Read more here&nbsp;</a>

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

WION's business Desk brings you this daily round up of global stories from the world of business and economy. The Oracle of Pasadena: Charles Munger's impact on investing, business, and beyond Warren Buffett's longtime confidant and powerful vice chairman of Berkshire Hathaway, Charles Munger, passed away on Tuesday at the age of 99.

WION's business Desk brings you this daily round up of global stories from the world of business and economy. The Oracle of Pasadena: Charles Munger's impact on investing, business, and beyond Warren Buffett's longtime confidant and powerful vice chairman of Berkshire Hathaway, Charles Munger, passed away on Tuesday at the age of 99. Munger's journey began when he worked for Buffett's grandfather during the Great Depression and culminated in his pivotal role in Berkshire's success. Read more here Emerging economies will be the stars of the Asia-Pacific region In spite of the slowdown in China's economy, Asia-Pacific nations—led by developing economies—remain resilient, according to S&P Global Ratings' most recent economic assessment. Read more here Record-breaking Cyber Monday: Americans spend $12.4 bn amid economic headwinds US shoppers spent $12.4 billion on Cyber Monday, despite economic difficulties, demonstrating the retail sector's resiliency as savings from the pandemic era disappear while interest rates rise. Read more here 2024 election to propel US dollar amid, predicts JPMorgan. Here's why Analysts at JPMorgan predict that the possibility of a more intense trade war will boost the dollar's standing in the 2024 US presidential race, which is expected to feature President Joe Biden and former President Donald Trump. Read more here Wall Street talent war: Banks engage in cutthroat competition for AI experts Wall Street firms are scooping up rival talent in an intense battle for the brightest minds in artificial intelligence (AI), with Goldman Sachs suffering a significant setback in the last 12 months. Read more here US chip maker Micron stock dips despite upbeat earnings forecast The shares of Micron Technology, the top US manufacturer of semiconductors for computer memory, fell on Monday, marking the company's biggest decrease in the previous two months. Read more here Fraudulent pandemic-era loans cost UK $1.8 bn: Report Post the Covid-19 pandemic, banks that gave small businesses loans that ultimately proved out to be fraudulent received payments totalling $1.8 billion from the UK government. Read more here WATCH WION LIVE HERE

Wion Business Wrap | Emerging Asia-Pacific economies, Charles Munger's impact on business and more

This year's Hurun India Rich List has a notable addition - Twenty-year-old Kaivalya Vohra, the youngest self-made entrepreneur. His venture, Zepto, co-founded with Aadit Palicha, holds the distinguished title of India's first unicorn of 2023.

Notably, Zepto's meteoric rise is further underscored by its recognition in LinkedIn's 2023 Top 20 Indian Startups List, where it has claimed the top spot, cementing its status as a burgeoning leader in the Indian startup ecosystem.

The Founders

At the heart of Zepto's remarkable journey are the founders, Aadit Palicha and Kaivalya Vohra. Hailing from Mumbai, Aadit Palicha took a divergent path from his Stanford University studies, opting to co-found Zepto. His entrepreneurial acumen is not a recent development; Aadit's journey began at the age of 17 when he founded Gopool. He has also made waves in the realm of artificial intelligence, notably through his project Pryvasee.

Similarly, Kaivalya Vohra, Zepto's Chief Technology Officer, also forsook his studies at Stanford University to embark on this entrepreneurial journey. Their collective efforts propelled Zepto onto the esteemed Hurun India's Future Unicorn Index in 2022.

Zepto's journey

Zepto's journey is a compelling narrative of resilience and adaptability. It started its odyssey as Kiranakart, collaborating with local grocery stores to address the soaring demand for swift delivery of essential items, a need magnified by the onset of the COVID-19 pandemic. In November 2021, the company secured $60 million in funding, and the promise of delivering groceries in just 10 minutes elevated its valuation to $570 million. May 2022 marked a watershed moment when Zepto secured $200 million in funding, catapulting its valuation to an impressive $900 million. Zepto further solidified its unicorn status by raising $200 million in a Series E round of funding, attaining a valuation of $1.4 billion. This achievement made Zepto India's first unicorn of 2023.

Future outlook

Looking ahead, Zepto is poised for further expansion, with plans to add 40% more dark stores in the coming year while reducing the time for these stores to turn profitable. The company also harbors aspirations of achieving EBITDA positivity within the next 12 to 15 months while sustaining its impressive growth trajectory.

However, as with any entrepreneurial journey, challenges lie on the horizon. These include the need for continuous funding to fuel their ambitious growth plans and the perpetual quest to maintain a competitive edge in the rapidly evolving quick commerce market.

Zepto's journey is a testament to the agility and innovation embedded in the core of India's startup landscape. Aadit Palicha and Kaivalya Vohra's foray into the grocery delivery market serves as an inspiration, illustrating the boundless potential of founders who navigate the dynamic world of startups.

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

This year's Hurun India Rich List has a notable addition - Twenty-year-old Kaivalya Vohra, the youngest self-made entrepreneur. His venture, Zepto, co-founded with Aadit Palicha, holds the distinguished title of India's first unicorn of 2023.

This year's Hurun India Rich List has a notable addition - Twenty-year-old Kaivalya Vohra, the youngest self-made entrepreneur. His venture, Zepto, co-founded with Aadit Palicha, holds the distinguished title of India's first unicorn of 2023. Notably, Zepto's meteoric rise is further underscored by its recognition in LinkedIn's 2023 Top 20 Indian Startups List, where it has claimed the top spot, cementing its status as a burgeoning leader in the Indian startup ecosystem. The Founders At the heart of Zepto's remarkable journey are the founders, Aadit Palicha and Kaivalya Vohra. Hailing from Mumbai, Aadit Palicha took a divergent path from his Stanford University studies, opting to co-found Zepto. His entrepreneurial acumen is not a recent development; Aadit's journey began at the age of 17 when he founded Gopool. He has also made waves in the realm of artificial intelligence, notably through his project Pryvasee. Similarly, Kaivalya Vohra, Zepto's Chief Technology Officer, also forsook his studies at Stanford University to embark on this entrepreneurial journey. Their collective efforts propelled Zepto onto the esteemed Hurun India's Future Unicorn Index in 2022. Zepto's journey Zepto's journey is a compelling narrative of resilience and adaptability. It started its odyssey as Kiranakart, collaborating with local grocery stores to address the soaring demand for swift delivery of essential items, a need magnified by the onset of the COVID-19 pandemic. In November 2021, the company secured $60 million in funding, and the promise of delivering groceries in just 10 minutes elevated its valuation to $570 million. May 2022 marked a watershed moment when Zepto secured $200 million in funding, catapulting its valuation to an impressive $900 million. Zepto further solidified its unicorn status by raising $200 million in a Series E round of funding, attaining a valuation of $1.4 billion. This achievement made Zepto India's first unicorn of 2023. Future outlook Looking ahead, Zepto is poised for further expansion, with plans to add 40% more dark stores in the coming year while reducing the time for these stores to turn profitable. The company also harbors aspirations of achieving EBITDA positivity within the next 12 to 15 months while sustaining its impressive growth trajectory. However, as with any entrepreneurial journey, challenges lie on the horizon. These include the need for continuous funding to fuel their ambitious growth plans and the perpetual quest to maintain a competitive edge in the rapidly evolving quick commerce market. Zepto's journey is a testament to the agility and innovation embedded in the core of India's startup landscape. Aadit Palicha and Kaivalya Vohra's foray into the grocery delivery market serves as an inspiration, illustrating the boundless potential of founders who navigate the dynamic world of startups. WATCH WION LIVE HERE

Meet Zepto: India's first unicorn of 2023

In nearly seven decades in the barber business, Luigi Pinzo has seen Italy go through some bad times, from myriad recessions to political assassinations. But it took the coronavirus to force the old style master hair cutter to hang up his scissors.

Spooked by coronavirus, Italian hairdresser hangs up his scissors after 68 years

busineses

Busineses, News on Busineses, stories on Busineses, articles on Busineses, Busineses stories at Wion, Busineses news, Busineses latest news