In a nation grappling with the exchange and depositing of ₹2,000 notes, confusion reigns supreme. On the first day, customers found themselves caught in a whirlwind of differing requirements across banks. While some banks demanded official identity cards and forms, others took a more relaxed approach. The lack of consistency left people puzzled and frustrated as they faced hurdles in their attempts to exchange their currency.

Rs 2000 notes withdrawn: Confusion galore | World Business Watch

Egypt is in an economic crisis, its the worst in several decades. The cash-strapped land of pyramids needs to decide whether it wants to go for another round of currency devaluation or attract investments from West Asia before securing a $3 billion IMF loan.

Egypt's IMF package hits roadblock | World Business Watch

Chevron corporation has decided to buy PDC energy in a $6.3 billion stock deal. With this deal, Chevron aims to supercharge its position in the US shale market.

Chevron's $6.3 billion bet | World Business Watch

As the race to regulate digital assets heats up, a global securities watchdog will soon propose new rules for Crypto assets. This comes on the heels of news that the European Union (EU) states have ratified the first set of comprehensive rules to oversee digital assets.

Race to regulate Cryptos heats up | WION Business Watch

Known for its unconventional marketing methods, Elon Musk-led tesla has announced its decision to embark on a new frontier: traditional advertising.

Musk-led Tesla bets on advertising | World Business Watch

Price cuts have taken a toll on Lyft's profit margins, leading to a less-than-stellar second-quarter forecast. Elaine Paul has stepped down as CFO. Now, all eyes will be on Erin Brewer, who brings a wealth of experience to the Lyft team.

Lyft's CFO Elaine Paul to step down | World Business Watch

Layoffs and cost cuts seem less painful than the latest buzz doing the rounds - bankruptcy. The once-popular digital broadcaster Vice Media and envision healthcare were among at least seven large companies that rushed to file for bankruptcy protection in less than 48 hours.

Record bankruptcy filings in the US | World Business Watch

Microsoft has a big victory in its kitty now. The US tech giant has won EU anti-trust body's approval to buy gaming company Activision. This win is likely to boost Microsoft's case in front of Chinese and South Korean regulators too.

EU okays Microsoft takeover of Activision | World Business Watch

In some good news for the Indian economy, the country's foreign exchange reserves jumped to a 11-month high. India's import cover rose by about 7.2 billion dollars to nearly 596 billion dollars in the week that ended on May 5.

India's Forex reserves near the $600 billion mark | World Business Watch

Canada's housing market is breaking all the rules, defying expectations, and staging a remarkable comeback after a year-long slump. But here's the twist: Just as the housing market is bouncing back, higher borrowing costs are expected to throw a wrench in the rest of the economy.

Canada's housing sector defies the odds | World Business Watch

If you have invested in Cryptocurrency, we have some news for you, according to report from Standard Chartered - could hit hundred thousand dollar by the end of 2024. It is believed that Bitcoin could gain from various factors, be it from recent turmoil in the banking sector or from the improved profitability of crypto mining.

Have you invested in Cryptocurrency? Know how Bitcoin is a good investment | Business News | WION

With Covid cases rising across India, former giant Serum Institute of India, has restarted the production of its Covid vaccine - Covishield. The CEO, Adar Poonawala said on Wednesday that six to seven million doses of Covishield will be made available in the next 90 days.

India: Covid vaccine demand to rise; 6-7 million doses to be available in 90 days | WION

India's Tata Consultancy Services has blamed the banking crisis in the United States for its weak results in the March quarter. The tech giants said that some clients in North America's banking sector deferred project spending due to the crisis.

India's TCS' outlook bleaker for current quarter, blames US banking crisis | World Business Watch

Former Apple Communications Chief Katie Cotton, who played a key role in protecting Apple beloved brand during Steve Jobs tenure, had died. Cotton was born in 1965 announced in an online obituary that she passed peacefully on April 6th on Monday.

Katie Cotton, Apple's steward for 18 years dies: The unsung hero behind Apple's media strategy

Johnson and Johnson for its baby products and you probably know that the company faces lawsuits of its baby powder more than 90,000 lawsuits have been filed against the baby talc maker. The allegations are that the baby powder produced by the company was laced with asbestos.

Lawsuit over Johnson & Johnson's 'toxic' baby powder: Cancer victims blocking $8.9 bn deal

Boeing has been bitten by Airbus in delivering more planes for the first time since 2018. This is good news for the US manufacturer as it shows that the production capacity is back on the track after a tough time during the pandemic in the first quarter which is from January to March 2023.

Boeing sees an uptick in Q1 sales; Airbus sales dip 9% in Q1 | World Business Watch

India's Bank of Baroda has stopped clearing payments for Russian oil sold above the price cap set by the West. This is according to media sources that suggests that the move could expedite the process of paying for Russian oil in Indian rupees.

Indian bank adheres to sanctions on Russia

Amazon announced that it would be reducing employee stock awards as a part of its compensation plan. The company cited an uncertain economy for that. The decision would impact the final outlook here with a small reduction in restricted stock units awards.

Amazon to cut stock awards, considers balancing compensation with equity

Ford and Stellantis, two global scale car companies will see most of the electric and plug-in electric hybrid models with tax credits halved to 3,750 from April 18th after new US treasury rules came into effect. The rules aim to move US battery production and supply chains away from China.

Ford and Stellantis EV tax credits slashed

The Federal Deposit Insurance Corporation is an independent federal agency looking after the insurance of bank deposits. This agency has now chosen Blackrock's financial market advisory unit to sell off securities portfolios that the agency held after the collapse of Signature Bank.

FDIC hires Blackrock to sell $114 bn securities portfolios | World Business News | WION

Elon Musk is no longer the richest man, according to the latest Forbes annual billionaire list. Louis Vuitton's Arnault has now taken the top spot with a net worth of $211 billion. According to Forbes, Arnault had a banner year in 2022.

Elon Musk loses world's richest crown after Tesla shares fall 50% | World Business News | WION

General Motors proposed a voluntary separation program to lower costs. Now, around 5,000 workers and executives have taken the company's buyout offer to leave the company that brings GM closer to achieving its two billion dollars cost cutting target.

GM's plan: Employee buyouts, not job cuts, a step to cut $2 billion in costs | World Business News

The Pakistan rupee on Tuesday hit a new record low of 287.9 rupees against the US dollar. There's no let up from the economic crisis as the country battles record-high inflation and falling foreign reserves.

Pakistan's rupee falls to a new record low against US dollar | World Business News

Japan's services sector activity grew at the fastest rate in over nine years in March that indicates the country's post-Covid economic recovery is gaining momentum and according to a private sector in Japan, purchasing managers index roles to 55.

Japan's services growth pace fastest in 9-years | WION Business News

The bank created by UBS's stakeholder of Credit Suisse is reportedly planning to cut its Workforce by 20 to 30 percent, the Swiss daily reported. UBS agreed to acquire credit Suites for 3.3 billion dollars to prevent a meltdown in Switzerland's Financial system that was also to ensure Financial stability globally, however the merger of two banks with 1.6 trillion dollars in assets and over 120 000 employees worldwide has sparked concerns about the size of the new bank the job cards are expected to impact around 11 000 jobs in Switzerland where the two Banks had previously employed slightly over 72 000 to 50 000 people respectively.

UBS to reduce workforce by 20-30 % after Credit Suisse buy

The semiconductor industry has been experiencing sales downturn but there is now growing optimism that it has reached its lowest point. One reason for this is surge in artificial intelligence technology which is expected to boost sales in the coming years of tech devices.

Semiconductor index rises on AI optimism as it boosts sales outlook | World Business News

Global automaker Honda's India unit has announced its entry into electric two-wheeler market. The company aims to start the mass production of EVs by March 2024 and simultaneous launch of its first product in the Indian market.

Honda India Unit's electric drive: HMSI plans five product launches for 2024 | World Business Watch

After Switzerland's second-largest bank had to be saved last week by UBS, the Swiss financial regulator FINMA said it was debating whether to take disciplinary action against Credit Suisse (CSGN.S) managers (UBSG.S).

Swiss regulator: Credit Suisse could face disciplinary action

IT giant Accenture would cut about 19,000 jobs which represents 2.5% of its workforce. The company announced that more than half of layoffs would impact employees in its non-believable corporate functions.

Accenture to lay off 2.5% of its staff, totaling 19,000 employees! | World Business News

There is relief for Microsoft in the Activision case, the US firm has won the dismissal of a private consumer anti-trust lawsuit. This is over its proposed purchase of Call of Duty maker.

Microsoft wins dismissal of Activision case, judge dismisses claims on 'harm' | World Business Watch

Nike is a brand we all are more or less likely familiar with and it has reported better than expected quarterly results. It has raised its full year revenue outlook as well the company's strong demand for its sneakers including classic style and newer franchise launches.

Nike beats quarterly estimates, strong demand for sneakers boosts market shares

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