Credit Suisse is being taken over by UBS. Both are giant Swiss banks, but their investment banking arms operate all over the world. Swiss banking has the ultimate reputation for financial stability, so the slide into uncertainty for Credit Suisse, and the shotgun marriage to UBS, have left the Swiss rather dazed.

Why you should be worried if Credit Suisse collapses

U.S. stocks climbed Monday on hopes for stability in the banking sector after regulators engineered a deal for Swiss banking giant UBS to take over rival Credit Suisse.

Credit Suisse: European markets open in red, gains remain low

The shares of swiss lender Credit Suisse tumbled as much as 30% on Wednesday. The Credit Suisse turmoil resulted in torrid sessions in Europe and the united states overnight, as investors fretted about potential runs on global bank deposits. Asian markets slid Thursday, with contagion talk sweeping across trading floors, owing to fears about the swiss giant. Credit Suisse has announced it is borrowing $53.7 billion from the swiss Central Bank. Global markets have been rattled by the collapse of the silicon valley bank and signature bank, the sector's biggest failures since the 2008 financial crisis. Asian stocks followed wall street's tumble on Thursday. Investors bought gold, bonds and the dollar. while the bank's announcement helped trim some losses, trade was volatile and sentiment fragile. Credit Suisse is the first major global bank to be given a liquidity lifeline since the 2008 financial crisis.

Asian stocks tumble on Credit Suisse turmoil after torrid sessions in Europe & U.S. | Details

India's plan is under review, this after failing collectively cage consumers preferences for mobile phones, it allows consumer electronics to surpass Chinese company in world's second largest market for these devices.

Xiaomi reviews India strategy, misjudges consumer tastes in country | World Business Watch

The shares of swiss lender Credit Suisse tumbled as much as 30% on Wednesday. The Credit Suisse turmoil resulted in torrid sessions in Europe and the United States overnight, as investors fretted about potential runs on global bank deposits.

Bailout of Credit Suisse fails to stem rout; banking crisis weighs on Europe's rate policy | WION

China's Xi Jinping is poised to tighten control on banks. Bankers are being told to rectify their mindsets, clean up their lifestyles and stop copying Western weeds blindly. A 3,500 world commentary was part of directives which were issued last week from country's top watchdog.

China: Jinping poised to tighten control on banks, warns 'hedonistic' bankers | World Business Watch

The U S House Foreign Affairs committee has voted in favour of giving US President Joe Biden the power to ban Chinese-owned social media app TikTok and other apps. The measure was approved by a vote of 24 to 16 along party lines.

US Pres Joe Biden gets power to ban TikTok; US lawmakers seek to block app | World Business News

Shares of Tesla fell more than 5% and after hours trade yesterday, the company failed to unveil a much-awaited small affordable Electric Vehicle. Shares of Tesla were down more than 5%, this after the company failed and it was much anticipated that it would be happening but didn't happen.

Tesla announces plans to halve production costs on Investor Day 2023 | World Business Watch

Blackstone - one of the world's largest private equity firm - has blocked investors from withdrawing their investments at $71 billion real estate income trust. The firm has also been dealing with a high volume of redemption requests as some investors looked to withdraw their capital.

Blackstone expects to continue dealing with investor redemptions | World Business Watch | WION

India's growth has slowed in October-December quarter to 4.4% from last year. Economy in India is losing momentum as rising interest rates have started to hurt demand. Asia's largest economy, India, is likely harmed by falling consumption.

India's economy losing momentum on rate hikes; to grow 7% in FY 2022-23, says Indian Government

Intel has released Quantum SDK - it's a software platform for developers to build Quantum algorithms - that can run on a quantum computer. The platform currently enables algorithm to run on a stimulated Quantum Computing System.

Intel introduces Quantum SDK for quantum algorithm development | World Business Watch

In order to reduce costs, General Motors is cutting hundreds of Executive level and salary jobs in U.S. However, the reports added that the global reductions are in low hundreds and a cost-saving target of $2 billion will be achieved by reducing corporate expenses overhead and complexity in products.

US: General Motors on cost-cutting drive, cuts hundreds of jobs | World Business News

Chinese students studying abroad are facing a problem, roughly 700,000 Chinese students who have enrolled to study abroad are in a bind. In Australia, classes began this month so students are practically looking for housing even as property market throughout the world struggle with rising rents.

Australia's tight housing market: Chinese students face housing crisis | World Business Watch

<p>Microsoft's co-founder Bill Gates has bought a 3.76 per cent stake in Dutch brewing giant Heineken. The filing by Netherlands' Financial Markets Authority (AFM) said that the shares were purchased on February 17, a report by the news agency Reuters on Wednesday (February 22) said. Heineken Holding owns a controlling stake in brewer Heineken NV. Bill Gates, who is also a philanthropist, purchased the shares from Mexico's FEMSA, which is selling out of the brewing company.&nbsp;</p>

<p>A separate filing on February 17 showed FEMSA selling all 18 million shares which it held in Heineken Holding, the report added. Gates purchased 10.8 million shares worth $939.87 million (883 million euros) at current market prices, triggering a disclosure requirement under the stock market rules of the Netherlands.&nbsp;</p>

<p><strong>ALSO WATCH |&nbsp;</strong><strong>Bill Gates buys 3.76% stake in Dutch drinks giant Heineken</strong></p>

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<p>The Microsoft co-founder bought the Heineken stake despite saying in 2018 that he was not a big beer drinker. During an Ask Me Anything (AMA) session on Reddit, Gates said, "When I end up at something like a baseball game I drink light beer to get with the vibe of all the other beer drinkers. Sorry to disappoint real beer drinkers."</p>

<p>Previously, The Bill &amp; Melinda Gates Foundation- the charitable foundation launched by Bill Gates and his former wife Melinda- invested in Dutch online grocer Picnic BV and also holds a 1.34 per cent stake in Dutch fertiliser producer OCI NV, the news agency Bloomberg reported.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

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Microsoft's co-founder Bill Gates has bought a 3.76 per cent stake in Dutch brewing giant Heineken. The filing by Netherlands' Financial Markets Authority (AFM) said that the shares were purchased on February 17, a report by the news agency Reuters on Wednesday (February 22) said.

Microsoft's co-founder Bill Gates has bought a 3.76 per cent stake in Dutch brewing giant Heineken. The filing by Netherlands' Financial Markets Authority (AFM) said that the shares were purchased on February 17, a report by the news agency Reuters on Wednesday (February 22) said. Heineken Holding owns a controlling stake in brewer Heineken NV. Bill Gates, who is also a philanthropist, purchased the shares from Mexico's FEMSA, which is selling out of the brewing company. A separate filing on February 17 showed FEMSA selling all 18 million shares which it held in Heineken Holding, the report added. Gates purchased 10.8 million shares worth $939.87 million (883 million euros) at current market prices, triggering a disclosure requirement under the stock market rules of the Netherlands. ALSO WATCH | Bill Gates buys 3.76% stake in Dutch drinks giant Heineken × The Microsoft co-founder bought the Heineken stake despite saying in 2018 that he was not a big beer drinker. During an Ask Me Anything (AMA) session on Reddit, Gates said, "When I end up at something like a baseball game I drink light beer to get with the vibe of all the other beer drinkers. Sorry to disappoint real beer drinkers." Previously, The Bill & Melinda Gates Foundation- the charitable foundation launched by Bill Gates and his former wife Melinda- invested in Dutch online grocer Picnic BV and also holds a 1.34 per cent stake in Dutch fertiliser producer OCI NV, the news agency Bloomberg reported. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Bill Gates buys 3.76% stake in Dutch brewing giant Heineken

Job cuts are continuing and now reports are saying that Facebook's parent company, Meta, is likely to go for a fresh round of drop cuts which would affect thousands of workers. This time, the move will be a part of reorganisation and downsizing efforts of social media firm.

Another round of jobs cuts at Meta, thousands of workers could be impacted: Reports

German car maker Mercedez-Benz decided to team up with Google as part of a broader trend in the auto industry. It is to partner with the tech companies for cutting-edge technology solutions.

Mercedez-Benz partners with Google, takes conservative approach to software revenue

Billionaire Bill Gates is not a beer fan or even a big beer drinker, he has said earlier, but he found value in buying share of such companies. Bill Gates has now bought over 3.7% stake in the Dutch drinks giant, Heineken.

U.S.: Bill Gates buys 3.76% stake in Dutch drinks giant Heineken | World Business Watch

Amazon's corporate employees' compensation declines due to a significant fall in the company's shares, according to a report. Retail employees are offered restricted stock units and the value of these stocks depend on the company's performance in certain departments.

Amazon employees face pay loss of up to 50%, withdraws stock awards too

Budget has been released today in Hong Kong - the economy is expected to grow between 3.5% to 5.5% this year after shrinking 3.5% last year. It is leaving behind Covid-19 restrictions and it has isolated the city from the rest of the world.

Hong Kong budget: Govt to raise taxes to boost revenue | World Business Watch | WION

Electric car maker Tesla is now reworking on its manufacturing plans, in latest, Tesla has passed plans to produce entire batteries in Brandenburg plant in Germany, it will instead carry out some manufacturing in US, where tax incentives are more favourable.

Tesla scales back German battery plans, changes EU manufacturing plan | World Business News

In its economic outlook for 2023, U.S. retailer Walmart has struck a cautious note - this is the retail's forecast full year earnings below estimate and warned that the tight spending by consumers could pressure profit margins.

Walmart sees lower 2023 performance, strikes a cautious note about future

Asia is in a warring sign for the world's third largest economy, which is facing weakening demand and struggling to tame cost pressures. Japan's manufacturing activity contracted at fastest space in 30 months in February.

Worrying sign for Japan's economy as factory activity sinks | World Business Watch

Part of a broader plan to reduce costs globally, Swedish Telecom gear makers - Ericsson plans to get about 1,400 jobs in Sweden alone. The move is a part of companies' earlier announced plan to get cost by $880 million by the end of this year.

Major global tech firms going for job cuts: Ericsson to cut 1,400 jobs

In a hacking episode that can be unnerving for many large co-operations. Reports say that hackers got hold of login credentials for data centers in Asia are used by some of world's biggest experts.

Hackers selling data center logins, had credentials for over a year

Becoming world's four biggest accountancy firm to slash jobs in the US. Reports say that KPMG is cutting close to 2% of its workforce in the country, this will be the turbulent macro-economic environment that has pressured consumers.

KPMG to cut 2% staff in US, several financial firms slash jobs

Motown, in a move, could turn Tesla into universal filling station of EV era. Tesla will open part of its U.S. charging network to electric vehicles made by rivals. The deal is a part of $7.5 billion.

Tesla to share charging network, 3,500 chargers for non-Tesla customers

India-UAE's Comprehensive Economic Partnership Agreement (CEPA) is going to complete one year in the next few months. It was signed last year where India-UAE have targeted over $100 billion in bilateral trade.

CEPA trade pact with India successful, says UAE | World Business Watch | WION

Apple has been trying to move away from its hub - China, it has moved some of its major manufacturing work to India with hopes of accounting for its 25% produce from current 5%.

Apple facing hurdles in India, 50% rejection rate for iPhone casings | World Business Watch

Warren Buffet has changed its shareholding in companies, Berkshire Hathaway has slashed its stake in Taiwanese contract trip maker TSMC as well as in some banks in its fourth quarter.

Buffet's Berkshire dumps shares in TSMC, banks; hikes Apple stakes | World Business News

Rattled clients pull millions from the bank, Credit Suisse group has reported biggest annual loss since 2008 Global Financial Crisis. It also warned that a further substantial loss would come this year.

Credit Suisse warns of more losses, rattled clients pull billions from bank

The Adani Group, one of India's biggest conglomerates, has been embroiled in a row after a report by Hindenburg Research accused them of malpractice. This week on The India Story, Vikram Chandra explains where the Group companies stand as of now, and what implications this has for India's growth story.

The India Story | Where does the Adani Group stand, and how is it fighting back?

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