For years, "green" items have been in high demand in the market, and companies have been searching for innovative methods to meet consumer demand.

Sustainability is one of the methods.&nbsp;

Sustainability refers to our ability to use the resources available to us today in a manner that does not prevent future generations from meeting their needs.&nbsp;

Now, imagine "Mycelium Marketplace", a vibrant online store that's not just selling products, it's growing them! This business utilises the power of mycelium, the root network of mushrooms, to create sustainable alternatives.

Products from nature's recyclers

Mycelium Marketplace offers packing peanuts, insulation panels, and even stylish shoes – all crafted from mycelium fed on agricultural waste! It diverts waste from landfills while creating eco-friendly products that decompose naturally.

Grow-your-own kits

Craving fresh herbs? Mycelium Marketplace delivers! Their unique kits provide pre-inoculated, recycled paper pots filled with organic matter. Simply add water, watch the mycelium colonise, and harvest your delicious herbs at home – zero plastic waste involved!

Community focus

Partnering with local farms, the marketplace helps reduce transportation emissions and supports sustainable agriculture. They also offer workshops on growing your mycelium products, fostering a community passionate about a greener future.

Mycelium Marketplace isn't just selling products, it's cultivating a new way of thinking, one where business and sustainability grow hand-in-hand.

Sustainable sourcing: A way for small enterprises to contribute to a better future

Sustainability is key for businesses today. Global business-to-business (B2B) e-commerce giant Alibaba's internal statistics indicate that the number of Request for Quotations (RFQs) using phrases like "sustainable", "eco-friendly", "biodegradable", and "renewable" has increased by 23% year over year (YoY).&nbsp;

Several industries have seen a rise in these queries, including clothing and accessories (61% YoY increase), children's toys (30% YoY increase), and electrical components (26% YoY increase).

Setting yourself distinct may be challenging for many firms, especially smaller ones, as some product categories are becoming oversaturated with sustainable items. So how can you make your company stand out from the competition? The first step is to extend your product-specific sustainability activities.

To do this, businesses can use online platforms like Alibaba.com to find green-sourcing partners. These sites make it easier to choose suppliers, check if they are green, and talk directly with them.

Marketing is important too in showing off a business's green steps. Using simple words to share info from suppliers, and pointing out how the product is good for both people and the planet, are smart moves.

But does adopting green practices come at a higher cost to companies?

In recent years, sustainability has become a global priority, reshaping operations for businesses, governments, and individuals. Now let's delve into the complexities of sustainability costs and how stakeholders manage them.

Economic Needs

It’s key to match caring for the planet with keeping costs doable. Money put into green tech might be big at first but pays off with better energy use and less waste over time. This makes sure businesses can keep going even when the world changes.

Supply Costs and Making Products

Going green shapes how we get stuff and make it, even if it costs more at first. But, doing this meets the want of people who care about the planet, making a brand look good and stay ahead in the long run.

Rules and Risks

Keeping up with tough green rules costs money and means big changes to lessen risks from the climate and breaks in getting goods.

What People Want and Market Shifts

Because people know more, companies spend on green ways to open new chances and grow, despite the starting costs.

Tech and New Ideas

Even if it costs a lot to start, new green tech can save money later as it gets better, making a company lead in being green.

People and Culture

Being green helps places by being fair in work and caring for nature, though it might mean training workers again.

Learning and Knowing

Putting money into teaching and making people aware helps everyone move to a greener future.

Working Together Worldwide

Working with others across the world and putting money into studies is vital to solving big green issues, even if it's hard because of money and world politics.

Ultimately, with sustainability becoming a prominent topic in worldwide discussions, companies face the task of harmonising environmental consciousness with financial stability.

Although implementing eco-friendly measures may appear costly at first, the benefits in the long term are evident in increased productivity, less wastage, and a stronger brand image.

Through adopting sustainable sourcing practices, creative marketing approaches, and incorporating green technologies, businesses can remain competitive in a market where consumers are increasingly opting for environmentally friendly goods.

Regardless of the hurdles and expenses initially involved, the transition towards sustainability is crucial for constructing a durable and accountable future for succeeding generations.

For years, "green" items have been in high demand in the market, and companies have been searching for innovative methods to meet consumer demand. Sustainability is one of the methods.

For years, "green" items have been in high demand in the market, and companies have been searching for innovative methods to meet consumer demand. Sustainability is one of the methods. Sustainability refers to our ability to use the resources available to us today in a manner that does not prevent future generations from meeting their needs. Now, imagine "Mycelium Marketplace", a vibrant online store that's not just selling products, it's growing them! This business utilises the power of mycelium, the root network of mushrooms, to create sustainable alternatives. Products from nature's recyclers Mycelium Marketplace offers packing peanuts, insulation panels, and even stylish shoes – all crafted from mycelium fed on agricultural waste! It diverts waste from landfills while creating eco-friendly products that decompose naturally. Grow-your-own kits Craving fresh herbs? Mycelium Marketplace delivers! Their unique kits provide pre-inoculated, recycled paper pots filled with organic matter. Simply add water, watch the mycelium colonise, and harvest your delicious herbs at home – zero plastic waste involved! Community focus Partnering with local farms, the marketplace helps reduce transportation emissions and supports sustainable agriculture. They also offer workshops on growing your mycelium products, fostering a community passionate about a greener future. Mycelium Marketplace isn't just selling products, it's cultivating a new way of thinking, one where business and sustainability grow hand-in-hand. Sustainable sourcing: A way for small enterprises to contribute to a better future Sustainability is key for businesses today. Global business-to-business (B2B) e-commerce giant Alibaba's internal statistics indicate that the number of Request for Quotations (RFQs) using phrases like "sustainable", "eco-friendly", "biodegradable", and "renewable" has increased by 23% year over year (YoY). Several industries have seen a rise in these queries, including clothing and accessories (61% YoY increase), children's toys (30% YoY increase), and electrical components (26% YoY increase). Setting yourself distinct may be challenging for many firms, especially smaller ones, as some product categories are becoming oversaturated with sustainable items. So how can you make your company stand out from the competition? The first step is to extend your product-specific sustainability activities. To do this, businesses can use online platforms like Alibaba.com to find green-sourcing partners. These sites make it easier to choose suppliers, check if they are green, and talk directly with them. Marketing is important too in showing off a business's green steps. Using simple words to share info from suppliers, and pointing out how the product is good for both people and the planet, are smart moves. But does adopting green practices come at a higher cost to companies? In recent years, sustainability has become a global priority, reshaping operations for businesses, governments, and individuals. Now let's delve into the complexities of sustainability costs and how stakeholders manage them. Economic Needs It’s key to match caring for the planet with keeping costs doable. Money put into green tech might be big at first but pays off with better energy use and less waste over time. This makes sure businesses can keep going even when the world changes. Supply Costs and Making Products Going green shapes how we get stuff and make it, even if it costs more at first. But, doing this meets the want of people who care about the planet, making a brand look good and stay ahead in the long run. Rules and Risks Keeping up with tough green rules costs money and means big changes to lessen risks from the climate and breaks in getting goods. What People Want and Market Shifts Because people know more, companies spend on green ways to open new chances and grow, despite the starting costs. Tech and New Ideas Even if it costs a lot to start, new green tech can save money later as it gets better, making a company lead in being green. People and Culture Being green helps places by being fair in work and caring for nature, though it might mean training workers again. Learning and Knowing Putting money into teaching and making people aware helps everyone move to a greener future. Working Together Worldwide Working with others across the world and putting money into studies is vital to solving big green issues, even if it's hard because of money and world politics. Ultimately, with sustainability becoming a prominent topic in worldwide discussions, companies face the task of harmonising environmental consciousness with financial stability. Although implementing eco-friendly measures may appear costly at first, the benefits in the long term are evident in increased productivity, less wastage, and a stronger brand image. Through adopting sustainable sourcing practices, creative marketing approaches, and incorporating green technologies, businesses can remain competitive in a market where consumers are increasingly opting for environmentally friendly goods. Regardless of the hurdles and expenses initially involved, the transition towards sustainability is crucial for constructing a durable and accountable future for succeeding generations.

Green growth: Navigating sustainability costs for a thriving future

Japanese business confidence has taken a hit in April, according to a Reuters poll. This follows a decline in the previous month, with sentiment among manufacturers and service sector firms dropping. Rising costs of living and concerns about China's economic health are cited as key factors.

Cost of living, china concerns hurt Japan’s business sentiment

IMF has raised India's growth forecast to 7.8 percent, citing strong domestic demand and young workforce. Watch to know more.

IMF on India's growth:  2023-2024 forecast 7.8%

Let's turn our attention to the surge in metal prices. The London metal exchange saw a spike in aluminum and nickel prices. This comes as a result of further sanctions imposed by the US And UK on Moscow. The sanctions prohibit the delivery of any Russian supply of metals manufactured after Friday midnight.

Metals spike after Russian supply hit by US, UK sanctions

Vietnamese conglomerate, Vingroup, is putting more effort into making electric cars, even though its car-making unit, VinFast, is facing financial problems.

VinFast is growing fast. But it is relying a lot on selling cars to allied firms&nbsp;because not many are buying EVs right now.

Vingroup has lost about $5.7 billion on VinFast in the last three years, and its stock has gone down 38 per cent since VinFast started trading in the US in August.&nbsp;

Vingroup and its boss, Pham Nhat Vuong, have put $11.4 billion into VinFast from 2017 to 2023.

Still, VinFast has a hard time selling cars to people outside the company.

A big share of its car sales, which brought in $1.1 billion last year, were to its own related companies or those owned by Vuong.

Vingroup has tried to help by selling part of its shop unit, Vincom Retail, for $1.6 billion to get more money for VinFast.

But VinFast's way of selling mostly to its own subsidiaries is unlikely to work in the long run.

About 82 per cent of its sales come from internal buys. Even in Vietnam, VinFast employs big price cuts to sell its EVs.

Its big dreams of making and selling record number of cars haven't been reached yet, with sales not hitting goals and making cars still costing more than they make.

VinFast also wants to sell cars across the world, but with fewer people wanting electric cars now, that goal seems tough.

Since going public, its shares have dropped by 97 per cent, making investors worry if it can meet its sales goals and find good partners.

But Vuong says the move into cars is more about wanting to do good and show love for their country.

(With inputs from Reuters)

Vietnamese conglomerate, Vingroup, is putting more effort into making electric cars, even though its car-making unit, VinFast, is facing financial problems. VinFast is growing fast.

Vietnamese conglomerate, Vingroup, is putting more effort into making electric cars, even though its car-making unit, VinFast, is facing financial problems. VinFast is growing fast. But it is relying a lot on selling cars to allied firms because not many are buying EVs right now. Vingroup has lost about $5.7 billion on VinFast in the last three years, and its stock has gone down 38 per cent since VinFast started trading in the US in August. Vingroup and its boss, Pham Nhat Vuong, have put $11.4 billion into VinFast from 2017 to 2023. Still, VinFast has a hard time selling cars to people outside the company. A big share of its car sales, which brought in $1.1 billion last year, were to its own related companies or those owned by Vuong. Vingroup has tried to help by selling part of its shop unit, Vincom Retail, for $1.6 billion to get more money for VinFast. But VinFast's way of selling mostly to its own subsidiaries is unlikely to work in the long run. About 82 per cent of its sales come from internal buys. Even in Vietnam, VinFast employs big price cuts to sell its EVs. Its big dreams of making and selling record number of cars haven't been reached yet, with sales not hitting goals and making cars still costing more than they make. VinFast also wants to sell cars across the world, but with fewer people wanting electric cars now, that goal seems tough. Since going public, its shares have dropped by 97 per cent, making investors worry if it can meet its sales goals and find good partners. But Vuong says the move into cars is more about wanting to do good and show love for their country. (With inputs from Reuters)

Vingroup's VinFast faces financial risks amid ambitious global expansion plans

A recent survey by the Bank of Japan shows that Japanese families now think prices will go up more in the next three months up to early March.

According to a Reuters report, the survey, conducted from February 8 to March 5, finds more people worry about future price rises.

Over 83 per cent of the families think prices will climb a year from now. This is up from 79.3 per cent in the last check three months ago.

The survey also finds a jump in how many see prices going up in five years, at 80.6 per cent, higher than 76.5 per cent before.

The Bank of Japan watches what families think about price rises to see if inflation will stay at its 2 per cent goal.

Governor Kazuo Ueda told the Asahi newspaper last week that price rises might pick up from "summer towards autumn" due to expected big pay raises pushing prices up.

The new survey highlights how Japanese families feel sure that prices will keep rising soon and later on.

This puts more pressure on the Bank of Japan's policymakers to keep their money plans in line with their price rise goals.

As Japan moves through economic uncertain, the central bank's moves will remain key in setting the country's price rise path.

(With inputs from Reuters)

<button aria-label="Show trimmed quoted text" title="Show trimmed quoted text" type="button"></button>

A recent survey by the Bank of Japan shows that Japanese families now think prices will go up more in the next three months up to early March. According to a Reuters report, the survey, conducted from February 8 to March 5, finds more people worry about future price rises.

A recent survey by the Bank of Japan shows that Japanese families now think prices will go up more in the next three months up to early March. According to a Reuters report, the survey, conducted from February 8 to March 5, finds more people worry about future price rises. Over 83 per cent of the families think prices will climb a year from now. This is up from 79.3 per cent in the last check three months ago. The survey also finds a jump in how many see prices going up in five years, at 80.6 per cent, higher than 76.5 per cent before. The Bank of Japan watches what families think about price rises to see if inflation will stay at its 2 per cent goal. Governor Kazuo Ueda told the Asahi newspaper last week that price rises might pick up from "summer towards autumn" due to expected big pay raises pushing prices up. The new survey highlights how Japanese families feel sure that prices will keep rising soon and later on. This puts more pressure on the Bank of Japan's policymakers to keep their money plans in line with their price rise goals. As Japan moves through economic uncertain, the central bank's moves will remain key in setting the country's price rise path. (With inputs from Reuters) 

Japanese household inflation expectations surge. Here is what it means for the economy

An Illinois jury said on Wednesday that Amazon Web Services (AWS), the big cloud-service group owned by Amazon, must pay a tech firm named Kove $525 million.

This is because they broke Kove's rights to patents on how to store data. The jury found that AWS used three of Kove's key patents without permission.

These patents help AWS store and get big amounts of data from the cloud. Kove, from Illinois, said its tech was key in letting AWS keep lots of data well.

This win is big for Kove in its fight over who came up with certain tech ideas.

Amazon said it didn't agree with the jury's choice and plans to fight the decision.

An Amazon person said, "The company disagrees with the verdict and intends to appeal."

This fight shows the ongoing clash between smaller firms and big industry names over who has the rights to new tech.

Kove's main lawyer, Courtland Reichman, praised the decision, saying it shows how important it is for new companies to protect their tech ideas from big businesses.

The fight started in 2018 when Kove took Amazon to court in Illinois. Kove said it had made tech for fast cloud storage way before cloud computing became big.

The lawsuit claimed AWS' services, like Amazon S3 storage and DynamoDB database, used Kove's patented ideas.

The jury agreed with Kove, saying AWS broke all three patents. However, they didn't think AWS did it on purpose.

Even though AWS said Kove's patents shouldn't count, the jury backed Kove.

This case shows how key it is for smaller companies to protect their ideas.

Also, Kove is suing Google in Illinois for a similar reason in another case that's still going on.

This highlights the bigger issue of patent fights in the tech world.

(With inputs from Reuters)

An Illinois jury said on Wednesday that Amazon Web Services (AWS), the big cloud-service group owned by Amazon, must pay a tech firm named Kove $525 million. This is because they broke Kove's rights to patents on how to store data.

An Illinois jury said on Wednesday that Amazon Web Services (AWS), the big cloud-service group owned by Amazon, must pay a tech firm named Kove $525 million. This is because they broke Kove's rights to patents on how to store data. The jury found that AWS used three of Kove's key patents without permission. These patents help AWS store and get big amounts of data from the cloud. Kove, from Illinois, said its tech was key in letting AWS keep lots of data well. This win is big for Kove in its fight over who came up with certain tech ideas. Amazon said it didn't agree with the jury's choice and plans to fight the decision. An Amazon person said, "The company disagrees with the verdict and intends to appeal." This fight shows the ongoing clash between smaller firms and big industry names over who has the rights to new tech. Kove's main lawyer, Courtland Reichman, praised the decision, saying it shows how important it is for new companies to protect their tech ideas from big businesses. The fight started in 2018 when Kove took Amazon to court in Illinois. Kove said it had made tech for fast cloud storage way before cloud computing became big. The lawsuit claimed AWS' services, like Amazon S3 storage and DynamoDB database, used Kove's patented ideas. The jury agreed with Kove, saying AWS broke all three patents. However, they didn't think AWS did it on purpose. Even though AWS said Kove's patents shouldn't count, the jury backed Kove. This case shows how key it is for smaller companies to protect their ideas. Also, Kove is suing Google in Illinois for a similar reason in another case that's still going on. This highlights the bigger issue of patent fights in the tech world. (With inputs from Reuters)

Amazon Web Services ordered to pay $525 million for patent infringement

Airbus is getting ready to make a lot more jets, planning to increase the production of its A320neo aircraft by about 50 per cent&nbsp;to 75 planes a month by 2026.

This big goal means they need to spend a lot upfront on building things and hiring more people, aiming to work at full speed by 2026 or maybe 2027.

Chief Financial Officer Thomas Toepfer said they have to hire early to meet this future need, but this means spending money now while not seeing the full benefit until later.

&nbsp;He mentioned, "We want to pre-hire to be ready for rate-75 in 2026. But, the costs are hitting us now while the full speed only comes in 2026, and maybe 2027 when we are steady."

They're adding thousands of jobs and making two new assembly lines.

Even with the high costs and maybe going over budget, Airbus is sticking to its plans.

Toepfer didn't share details on the first-quarter tasks but noted that spending on speeding things up will pay off later on.

In 2023, Airbus brought in 13,000 people, making 10,000 new jobs, to keep ahead of any supply chain issues in these tough market times.

The company is firm on its goal to make 75 A320neo aircraft a month, with Toepfer confirming, "We are on track to hit the rate."

As Airbus works to meet growing demand, it's facing hurdles in hitting its private goals.

Yet, Toepfer said strong deliveries in 2023 show they're moving towards their targets. Once they reach making 75 planes a month, Airbus plans to slow down a bit to let suppliers catch up on their own spending.

Toepfer pointed out, "I think even when we hit rate-75 we won't be at top speed, but will keep the rate for a bit to get rid of these speed-up costs."

They'll keep a close eye on ramp-up costs when they share their quarterly update on April 25.

Though supply chains are getting better, Airbus wants to keep pushing suppliers to invest more.

Toepfer talked about finding a middle ground between pushing hard and not overloading suppliers with too much work amid industry uncertainties.

Some suppliers are worried about Airbus' fast plans and the chance of having extra capacity if things slow down.

But Toepfer believes Airbus can keep up with production levels, thanks to its big backlog of orders.

He's also hopeful about better profit margins in the Defence and Space division, even with ongoing issues.

(With inputs from Reuters)

Airbus is getting ready to make a lot more jets, planning to increase the production of its A320neo aircraft by about 50 per cent to 75 planes a month by 2026. This big goal means they need to spend a lot upfront on building things and hiring more people, aiming to work at full speed by 2026 or maybe 2027.

Airbus is getting ready to make a lot more jets, planning to increase the production of its A320neo aircraft by about 50 per cent to 75 planes a month by 2026. This big goal means they need to spend a lot upfront on building things and hiring more people, aiming to work at full speed by 2026 or maybe 2027. Chief Financial Officer Thomas Toepfer said they have to hire early to meet this future need, but this means spending money now while not seeing the full benefit until later. He mentioned, "We want to pre-hire to be ready for rate-75 in 2026. But, the costs are hitting us now while the full speed only comes in 2026, and maybe 2027 when we are steady." They're adding thousands of jobs and making two new assembly lines. Even with the high costs and maybe going over budget, Airbus is sticking to its plans. Toepfer didn't share details on the first-quarter tasks but noted that spending on speeding things up will pay off later on. In 2023, Airbus brought in 13,000 people, making 10,000 new jobs, to keep ahead of any supply chain issues in these tough market times. The company is firm on its goal to make 75 A320neo aircraft a month, with Toepfer confirming, "We are on track to hit the rate." As Airbus works to meet growing demand, it's facing hurdles in hitting its private goals. Yet, Toepfer said strong deliveries in 2023 show they're moving towards their targets. Once they reach making 75 planes a month, Airbus plans to slow down a bit to let suppliers catch up on their own spending. Toepfer pointed out, "I think even when we hit rate-75 we won't be at top speed, but will keep the rate for a bit to get rid of these speed-up costs." They'll keep a close eye on ramp-up costs when they share their quarterly update on April 25. Though supply chains are getting better, Airbus wants to keep pushing suppliers to invest more. Toepfer talked about finding a middle ground between pushing hard and not overloading suppliers with too much work amid industry uncertainties. Some suppliers are worried about Airbus' fast plans and the chance of having extra capacity if things slow down. But Toepfer believes Airbus can keep up with production levels, thanks to its big backlog of orders. He's also hopeful about better profit margins in the Defence and Space division, even with ongoing issues. (With inputs from Reuters)

Airbus prepares for higher jet production amid up-front costs

Nike is getting ready to show off its new outfits for Olympic teams, like those from the US and Kenya, as it aims to keep up its image as a top gear brand for top athletes and everyday folks alike.

With sales not doing so great lately, the coming Summer Olympics in Paris are a big chance for Nike to turn heads back to its high-end products, especially its running shoes.

These shoes, especially the Nike Alphafly 3, are aimed at runners who want the latest tech and are willing to pay for it.

HSBC analysts think Nike will grow slower than rivals like Adidas and Lululemon in the next few years, showing Nike needs to step up its game and grab more of the market.

Even as a big name in sports clothes, Nike is losing ground to brands like On Running, Hoka, and Lululemon. People are also moving away from big basketball shoes to more sleek "terrace" shoes, like the Adidas Samba, which adds to Nike's challenges.

Facing these challenges, Nike has warned of dropping income in the early part of its 2025 financial year. To fight this, the company said it will cut back on making its well-known shoes like the Air Force 1 and focus more on new products.

Tom Nikic, an analyst in New York, said Nike's recent products haven't been exciting or new. This matches what many think about Nike not making new exciting stuff lately.

But, the upcoming Olympics could be a chance for Nike to make its name shine again.

People think seeing Olympians set records wearing Nike could make folks lean towards Nike again.

Yet, Nikic warns, "We have to wait and see if Nike has the strong product to make the most of the buzz it will get."

Facing what the market wants and what people like, Nike's leaders said they plan to put more into running shoes, an area they've not been leading in. They want to make more affordable running shoes, priced between $100 and $150 a pair, to grow Nike's spot in the running shoe market.

(With inputs from Reuters)

Nike is getting ready to show off its new outfits for Olympic teams, like those from the US and Kenya, as it aims to keep up its image as a top gear brand for top athletes and everyday folks alike.

Nike is getting ready to show off its new outfits for Olympic teams, like those from the US and Kenya, as it aims to keep up its image as a top gear brand for top athletes and everyday folks alike. With sales not doing so great lately, the coming Summer Olympics in Paris are a big chance for Nike to turn heads back to its high-end products, especially its running shoes. These shoes, especially the Nike Alphafly 3, are aimed at runners who want the latest tech and are willing to pay for it. HSBC analysts think Nike will grow slower than rivals like Adidas and Lululemon in the next few years, showing Nike needs to step up its game and grab more of the market. Even as a big name in sports clothes, Nike is losing ground to brands like On Running, Hoka, and Lululemon. People are also moving away from big basketball shoes to more sleek "terrace" shoes, like the Adidas Samba, which adds to Nike's challenges. Facing these challenges, Nike has warned of dropping income in the early part of its 2025 financial year. To fight this, the company said it will cut back on making its well-known shoes like the Air Force 1 and focus more on new products. Tom Nikic, an analyst in New York, said Nike's recent products haven't been exciting or new. This matches what many think about Nike not making new exciting stuff lately. But, the upcoming Olympics could be a chance for Nike to make its name shine again. People think seeing Olympians set records wearing Nike could make folks lean towards Nike again. Yet, Nikic warns, "We have to wait and see if Nike has the strong product to make the most of the buzz it will get." Facing what the market wants and what people like, Nike's leaders said they plan to put more into running shoes, an area they've not been leading in. They want to make more affordable running shoes, priced between $100 and $150 a pair, to grow Nike's spot in the running shoe market. (With inputs from Reuters)

Nike prepares to unveil Olympic kits amid sales challenges

India's growth story has been the talk of the town. And nothing signifies India's rise like the stock markets. Indian markets have been among the best-performing ones globally. This report gives us a snapshot of the stock market performance in the last fiscal year.

Indices outperform peers in UK, Europe, China & South Korea

Oil rose a little, with Brent crude hitting 87 dollars per barrel even as red sea tensions escalated. Gold rose by 1.1%, continuing its upward trajectory. The dollar continues its gains as expectations for a fed cut in June gain traction. Japan's markets are down 1.5%.

Global markets performance in March

Oji Holdings, a&nbsp;company in Japan&nbsp;renowned for its expertise in paper products, has&nbsp;announced its intention to cease the production of children's nappies in September due to a significant downturn in demand. It will instead focus on increasing the output of adult diapers. The company cited a significant decline in demand for children's nappies as the primary reason behind this shift, with sales plummeting from a peak of approximately 700 million units in 2001 to 400 million units presently.

Also read |&nbsp;<a href="https://www.wionews.com/world/morning-news-brief-baltimore-bridge-collapse-updates-gag-order-to-trump-and-more-704658">Morning news brief: Baltimore bridge collapse updates; gag order on Trump; and more</a>

This transition underscores a broader demographic trend in Japan, where sales of adult diapers have consistently surpassed those of baby diapers for over a decade. Recent population statistics further underscore the significance of this shift, with Japan witnessing a historic low in births at 758,631 in 2023, juxtaposed with 1,590,503 deaths.

Prime Minister Fumio Kishida has characterised Japan's persistently low birthrate as an "existential crisis" and has pledged governmental support in various forms, including financial assistance for families, improved childcare accessibility, and expanded parental leave policies. Despite these initiatives, efforts to encourage larger families have yielded minimal results at both the national and local levels.

Also read |&nbsp;<a href="https://www.wionews.com/world/us-president-biden-claims-he-commuted-to-no-rail-lines-baltimore-bridge-by-train-many-times-704689">Biden says he commuted over Baltimore bridge by train 'many times'. The problem? It has no rail tracks!</a>

Oji Holdings' strategic realignment to cater to the growing demand for adult diapers amidst Japan's ageing population reflects not only shifting market dynamics but also the broader socio-economic challenges facing the country. As Japan grapples with the implications of its demographic transition, businesses and policymakers alike are compelled to adapt to the evolving needs of an increasingly elderly population.

(With inputs from agencies)&nbsp;

Oji Holdings, a company in Japan renowned for its expertise in paper products, has announced its intention to cease the production of children's nappies in September due to a significant downturn in demand.

Oji Holdings, a company in Japan renowned for its expertise in paper products, has announced its intention to cease the production of children's nappies in September due to a significant downturn in demand. It will instead focus on increasing the output of adult diapers. The company cited a significant decline in demand for children's nappies as the primary reason behind this shift, with sales plummeting from a peak of approximately 700 million units in 2001 to 400 million units presently. Also read | Morning news brief: Baltimore bridge collapse updates; gag order on Trump; and more This transition underscores a broader demographic trend in Japan, where sales of adult diapers have consistently surpassed those of baby diapers for over a decade. Recent population statistics further underscore the significance of this shift, with Japan witnessing a historic low in births at 758,631 in 2023, juxtaposed with 1,590,503 deaths. Prime Minister Fumio Kishida has characterised Japan's persistently low birthrate as an "existential crisis" and has pledged governmental support in various forms, including financial assistance for families, improved childcare accessibility, and expanded parental leave policies. Despite these initiatives, efforts to encourage larger families have yielded minimal results at both the national and local levels. Also read | Biden says he commuted over Baltimore bridge by train 'many times'. The problem? It has no rail tracks! Oji Holdings' strategic realignment to cater to the growing demand for adult diapers amidst Japan's ageing population reflects not only shifting market dynamics but also the broader socio-economic challenges facing the country. As Japan grapples with the implications of its demographic transition, businesses and policymakers alike are compelled to adapt to the evolving needs of an increasingly elderly population. (With inputs from agencies)

This Japanese company will soon stop producing baby nappies. Here's why

As global supply chains undergo a transformation, India emerges as a formidable challenger to china's long-held manufacturing dominance. With a surge of international investment and strategic reforms, India's industrial landscape is rapidly evolving. Watch in for more details!

India: Rising tensions prompt manufacturers to diversify away from China

In the bustling markets of the world, where currencies jostle for supremacy, the story of purchasing power paints a vivid picture of economic landscapes. Amidst this backdrop, the rise of India as an economic powerhouse shines brightly, offering consumers a taste of prosperity unparalleled in many developed nations. But could the economics of prosperity translate to votes for the incumbent government?

Higher purchasing power indicates rising affluence in India

The ongoing exodus of foreign companies from Russia has resulted in $385 million in revenues in 2024 so far. This stems from an exit tax policy implemented when companies began leaving Russia after the Ukraine invasion began. The policy requires departing businesses to contribute at least 10% of their sale price to the federal budget. Watch for more details!

Foreign companies' exit contributions in 2024 surpass $385 mn

Intel has announced a $100 billion investment to build and expand chip factories across four U.S. States. This comes after securing almost $20 billion in federal grants and loans through the chips act, with the potential for an additional $25 billion in tax breaks. Watch to know more!

Project to create ‘largest AI chip manufacturing site’ in Ohio

The global aviation industry continues to grapple with the fallout of Boeing's never-ending list of technical troubles. Now, its European rival airbus says that Boeing's troubles are damaging the image of the entire industry. Watch in for more details!

Airbus: Take no pleasure in Boeing's technical problems

Internal Revenue Service (IRS) Commissioner Danny Werfel announced on Monday that the agency's intention to expand its workforce to over 100,000 employees within the next three years to achieve modernisation, service, and enforcement objectives.

Werfel, marking his first anniversary in the IRS' top position, emphasised the need for additional funding to sustain this increased capacity.

He stated that the near-term focus of hiring would prioritise enhancing taxpayer services and managing complex audits.

The IRS is set to unveil detailed hiring plans next month as part of its strategic operating plan, utilising approximately $60 billion in supplemental funding allocated from the 2022 Inflation Reduction Act.

Currently employing around 90,000 individuals, Werfel projected the need to surpass 100,000 employees over the next two to three years to align with the agency's objectives.

This expansion represents a substantial increase of over 20,000 full-time-equivalent staff compared to the fiscal 2022 level of 79,070.

Despite accusations from Republicans suggesting the IRS was building an "army" of 87,000 agents, Werfel clarified that the actual staffing increase would be considerably less.

He highlighted the necessity of overcoming previous budget cuts and rebuilding the workforce to effectively carry out the agency's duties.

While President Joe Biden's fiscal 2025 proposed budget includes a request for an additional $104 billion in IRS funding, negotiations have resulted in a reduction of the original $80 billion funds to $60 billion.

Werfel expressed concerns regarding potential disruptions for taxpayers, particularly amid ongoing negotiations and the looming tax filing season.

Regardless of the funding adjustments, Werfel assured that the IRS would continue making investments in technology to enhance its operations.

However, he stressed the importance of securing adequate funding to sustain the agency's workforce and support ongoing initiatives, including sophisticated audits and technology upgrades.

As discussions continue regarding future funding allocations, Werfel puts the spotlight on the necessity of maintaining sufficient resources to prevent capacity limitations and ensure the IRS can effectively carry out its duties.

He warned of potential consequences if funding falls short, indicating that without adequate support, the agency may face challenges in pursuing its modernisation goals.

With ongoing negotiations and potential adjustments to funding, the IRS remains focused on balancing operational needs with fiscal constraints to uphold its responsibilities to taxpayers.

(With inputs from Reuters)

Internal Revenue Service (IRS) Commissioner Danny Werfel announced on Monday that the agency's intention to expand its workforce to over 100,000 employees within the next three years to achieve modernisation, service, and enforcement objectives.

Internal Revenue Service (IRS) Commissioner Danny Werfel announced on Monday that the agency's intention to expand its workforce to over 100,000 employees within the next three years to achieve modernisation, service, and enforcement objectives. Werfel, marking his first anniversary in the IRS' top position, emphasised the need for additional funding to sustain this increased capacity. He stated that the near-term focus of hiring would prioritise enhancing taxpayer services and managing complex audits. The IRS is set to unveil detailed hiring plans next month as part of its strategic operating plan, utilising approximately $60 billion in supplemental funding allocated from the 2022 Inflation Reduction Act. Currently employing around 90,000 individuals, Werfel projected the need to surpass 100,000 employees over the next two to three years to align with the agency's objectives. This expansion represents a substantial increase of over 20,000 full-time-equivalent staff compared to the fiscal 2022 level of 79,070. Despite accusations from Republicans suggesting the IRS was building an "army" of 87,000 agents, Werfel clarified that the actual staffing increase would be considerably less. He highlighted the necessity of overcoming previous budget cuts and rebuilding the workforce to effectively carry out the agency's duties. While President Joe Biden's fiscal 2025 proposed budget includes a request for an additional $104 billion in IRS funding, negotiations have resulted in a reduction of the original $80 billion funds to $60 billion. Werfel expressed concerns regarding potential disruptions for taxpayers, particularly amid ongoing negotiations and the looming tax filing season. Regardless of the funding adjustments, Werfel assured that the IRS would continue making investments in technology to enhance its operations. However, he stressed the importance of securing adequate funding to sustain the agency's workforce and support ongoing initiatives, including sophisticated audits and technology upgrades. As discussions continue regarding future funding allocations, Werfel puts the spotlight on the necessity of maintaining sufficient resources to prevent capacity limitations and ensure the IRS can effectively carry out its duties. He warned of potential consequences if funding falls short, indicating that without adequate support, the agency may face challenges in pursuing its modernisation goals. With ongoing negotiations and potential adjustments to funding, the IRS remains focused on balancing operational needs with fiscal constraints to uphold its responsibilities to taxpayers. (With inputs from Reuters)

IRS Commissioner outlines plans to boost workforce for modernisation goals

Tech giant Nvidia on Monday announced its plans to strengthen partnerships with Chinese automakers, including BYD, as they endeavour to develop self-driving vehicles and AI-infused infotainment systems to compete globally.

BYD, which surpassed Tesla last year to become the world's largest electric vehicle manufacturer, is set to leverage Nvidia's upcoming generation of in-vehicle chips, known as Drive Thor, to enhance autonomous driving capabilities and other digital features.

Nvidia Vice President for Automotive, Danny Shapiro, highlighted BYD's adoption of Drive Thor during a conference call, stating that it will be integrated into BYD vehicles starting next year.

The collaboration aims to propel BYD's technological advancements across manufacturing processes, supply chain management, and the creation of virtual showrooms.

Several Chinese automakers, including BYD, Xpeng, and GAC Aion's Hyper brand, revealed expanded partnerships with Nvidia on Monday at the chipmaker's GTC developer conference in San Jose, California.

Additionally, Zeekr, a subsidiary of Geely, and Li Auto had previously announced their intention to utilise Nvidia's Drive Thor technology.

These collaborations highlights Chinese automakers' pursuit of cutting-edge technology to bolster their global competitiveness, particularly as they aim to expand sales beyond China's borders and vie with established Western brands like Tesla in domestic markets.

Nvidia's Danny Shapiro emphasised the eagerness of Chinese automakers to innovate and capitalise on favorable regulations to advance autonomous driving capabilities.

Nvidia also disclosed new collaborations in the automotive and industrial sectors during Monday's announcements. The company partnered with US software firm Cerence to adapt large language model artificial intelligence systems for in-car computing.

Furthermore, Nvidia is collaborating with Chinese computer manufacturer Lenovo on large language model deployment.

Soundhound, a subsidiary of Nvidia, is set to utilise the company's technology to develop an in-vehicle voice command system, allowing vehicle owners to access information from a virtual owner's manual through speech commands.

Notably, Nvidia did not explicitly mention specific AI developers, such as OpenAI, in its discussions.

(With inputs from Reuters)

Tech giant Nvidia on Monday announced its plans to strengthen partnerships with Chinese automakers, including BYD, as they endeavour to develop self-driving vehicles and AI-infused infotainment systems to compete globally.

Tech giant Nvidia on Monday announced its plans to strengthen partnerships with Chinese automakers, including BYD, as they endeavour to develop self-driving vehicles and AI-infused infotainment systems to compete globally. BYD, which surpassed Tesla last year to become the world's largest electric vehicle manufacturer, is set to leverage Nvidia's upcoming generation of in-vehicle chips, known as Drive Thor, to enhance autonomous driving capabilities and other digital features. Nvidia Vice President for Automotive, Danny Shapiro, highlighted BYD's adoption of Drive Thor during a conference call, stating that it will be integrated into BYD vehicles starting next year. The collaboration aims to propel BYD's technological advancements across manufacturing processes, supply chain management, and the creation of virtual showrooms. Several Chinese automakers, including BYD, Xpeng, and GAC Aion's Hyper brand, revealed expanded partnerships with Nvidia on Monday at the chipmaker's GTC developer conference in San Jose, California. Additionally, Zeekr, a subsidiary of Geely, and Li Auto had previously announced their intention to utilise Nvidia's Drive Thor technology. These collaborations highlights Chinese automakers' pursuit of cutting-edge technology to bolster their global competitiveness, particularly as they aim to expand sales beyond China's borders and vie with established Western brands like Tesla in domestic markets. Nvidia's Danny Shapiro emphasised the eagerness of Chinese automakers to innovate and capitalise on favorable regulations to advance autonomous driving capabilities. Nvidia also disclosed new collaborations in the automotive and industrial sectors during Monday's announcements. The company partnered with US software firm Cerence to adapt large language model artificial intelligence systems for in-car computing. Furthermore, Nvidia is collaborating with Chinese computer manufacturer Lenovo on large language model deployment. Soundhound, a subsidiary of Nvidia, is set to utilise the company's technology to develop an in-vehicle voice command system, allowing vehicle owners to access information from a virtual owner's manual through speech commands. Notably, Nvidia did not explicitly mention specific AI developers, such as OpenAI, in its discussions. (With inputs from Reuters)

Nvidia expands collaborations with Chinese automakers

Industrial output in China surged by 7.0 per cent year-on-year during the January-February period, as revealed by data released on Monday.

This growth rate marks an acceleration from the 6.8 per cent pace observed in December and exceeded expectations, signaling a promising start for the year and providing some relief to policymakers.

The National Bureau of Statistics (NBS) reported that the figure surpassed forecasts from a Reuters poll of analysts, who had anticipated a 5.0 per cent increase.

Retail sales, which serve as a barometer of consumption levels, increased by 5.5 per cent in the first two months of the year, compared to a 7.4 per cent rise in December.

While this growth rate moderated slightly, it still outpaced analysts' expectations, who had forecasted a 5.2 per cent increase.

This suggests that consumer spending remains relatively strong despite the deceleration.

Fixed asset investment, an important gauge of overall economic activity, expanded by 4.2 per cent during the same two-month period compared to the previous year.

This growth rate exceeded expectations for a 3.2 per cent rise and surpassed the 3.0 per cent growth recorded for the entirety of 2023. The data indicates increased investment sentiment and activity in the early months of 2024.

China's housing market shows signs of improvement amid government interventions

China's housing market, which has been grappling with a prolonged downturn, showed signs of tempered decline as the new year commenced, boosted by government interventions aimed at stabilising the sector.

Despite this, analysts remain cautious about prematurely declaring an end to the downturn. National Bureau of Statistics (NBS) data revealed that property investment in China decreased by 9.0 per cent year-on-year in the first two months of 2024, a notable improvement from the 24.0 per cent decline recorded in December 2023.

Property sales also experienced a milder contraction, with sales by floor area registering a 20.5 per cent slide in January-February compared to the previous year, compared to a 23.0 per cent fall in December.

However, official figures from last week indicated that the sector continues to grapple with challenges, as home prices saw a 0.3 per cent month-on-month decline in February, consistent with the trend observed in January.

Nie Wen, an economist at Hwabao Trust, emphasised that despite the slight improvement in property investment, the real estate sector remains on a downward trajectory.

Nie highlighted that developers are still facing challenges with cash flow, indicating that the sector's struggle is far from over.

However, he noted that the phase with the most significant negative impact on the economy may have passed, raising questions about when the sector will reach its bottom.

In response to the housing market's fragility, Chinese authorities have intensified efforts to revitalise the sector following a regulatory crackdown on developer leverage that triggered a liquidity crisis.

In January, the government introduced a "whitelist" mechanism to channel funds from state banks into local property projects deemed justifiable for financing support by city governments.

Additionally, China announced its largest reduction in benchmark mortgage rates last month in a bid to prop up the sector.

Despite these measures, market sentiment remains subdued, with home buying, financing, and construction starts for real estate firms continuing to decline.

Economists at HSBC highlighted the need for further support for the property sector, advocating for policies aimed at removing home purchase restrictions in more cities and directing government support towards boosting public housing supply.

China's economy shows resilience in early 2024 amid structural challenges

China's economy demonstrated resilience at the beginning of 2024, as factory output and retail sales exceeded expectations in the January-February period, offering a positive start for the year and providing some relief to policymakers.

Despite ongoing concerns regarding weakness in the property sector, recent data, including better-than-expected exports and consumer inflation indicators, have bolstered hopes of reaching China's ambitious 5.0 per cent GDP growth target for the year.

According to data released by the National Bureau of Statistics (NBS), industrial output surged by 7.0 per cent in the first two months of the year, surpassing analysts' forecasts and marking the quickest growth in almost two years.

Retail sales, a key indicator of consumption, rose by 5.5 per cent, although this was slightly slower than the increase observed in December.

The eight-day Lunar New Year holiday in February saw a robust return of travel, supporting revenue in the tourism and hospitality sectors and driving a 3 per cent growth in oil refinery throughput to meet increased demand for transport fuels.

According to Reuters, Louise Loo, a China economist at Oxford Economics, cautioned that while the activity data showed stabilisation at the start of the year, there are reasons to believe that some of the strength could be temporary.

Loo highlighted that festivities-related spending during the Lunar New Year may have buoyed consumer sentiment temporarily, but sustaining robust consumer spending throughout the year without decisive consumption-related stimulus measures could be challenging.

Despite the positive economic indicators, China continues to face structural challenges, particularly in its property sector, which remains a significant drag on the economy and confidence.

Goldman Sachs economists emphasised the need for further policy easing, particularly on the demand side, to secure China's ambitious growth target for the year.

They noted that while China's sequential growth momentum remained solid in the first quarter, more policy support, especially in areas such as fiscal stimulus, housing, and consumption, is necessary.

Despite the challenges, there are signs of resilience in certain areas of the economy. Fixed asset investment expanded by 4.2 per cent in the first two months of 2024, surpassing expectations.

Notably, private investment reversed its decline from the previous year, growing by 0.4 per cent during the same period.

Premier Li Qiang and central bank governor Pan Gongsheng have pledged to address structural challenges and implement further measures to stabilise growth.

(With inputs from Reuters)

Industrial output in China surged by 7.0 per cent year-on-year during the January-February period, as revealed by data released on Monday. This growth rate marks an acceleration from the 6.

Industrial output in China surged by 7.0 per cent year-on-year during the January-February period, as revealed by data released on Monday. This growth rate marks an acceleration from the 6.8 per cent pace observed in December and exceeded expectations, signaling a promising start for the year and providing some relief to policymakers. The National Bureau of Statistics (NBS) reported that the figure surpassed forecasts from a Reuters poll of analysts, who had anticipated a 5.0 per cent increase. Retail sales, which serve as a barometer of consumption levels, increased by 5.5 per cent in the first two months of the year, compared to a 7.4 per cent rise in December. While this growth rate moderated slightly, it still outpaced analysts' expectations, who had forecasted a 5.2 per cent increase. This suggests that consumer spending remains relatively strong despite the deceleration. Fixed asset investment, an important gauge of overall economic activity, expanded by 4.2 per cent during the same two-month period compared to the previous year. This growth rate exceeded expectations for a 3.2 per cent rise and surpassed the 3.0 per cent growth recorded for the entirety of 2023. The data indicates increased investment sentiment and activity in the early months of 2024. China's housing market shows signs of improvement amid government interventions China's housing market, which has been grappling with a prolonged downturn, showed signs of tempered decline as the new year commenced, boosted by government interventions aimed at stabilising the sector. Despite this, analysts remain cautious about prematurely declaring an end to the downturn. National Bureau of Statistics (NBS) data revealed that property investment in China decreased by 9.0 per cent year-on-year in the first two months of 2024, a notable improvement from the 24.0 per cent decline recorded in December 2023. Property sales also experienced a milder contraction, with sales by floor area registering a 20.5 per cent slide in January-February compared to the previous year, compared to a 23.0 per cent fall in December. However, official figures from last week indicated that the sector continues to grapple with challenges, as home prices saw a 0.3 per cent month-on-month decline in February, consistent with the trend observed in January. Nie Wen, an economist at Hwabao Trust, emphasised that despite the slight improvement in property investment, the real estate sector remains on a downward trajectory. Nie highlighted that developers are still facing challenges with cash flow, indicating that the sector's struggle is far from over. However, he noted that the phase with the most significant negative impact on the economy may have passed, raising questions about when the sector will reach its bottom. In response to the housing market's fragility, Chinese authorities have intensified efforts to revitalise the sector following a regulatory crackdown on developer leverage that triggered a liquidity crisis. In January, the government introduced a "whitelist" mechanism to channel funds from state banks into local property projects deemed justifiable for financing support by city governments. Additionally, China announced its largest reduction in benchmark mortgage rates last month in a bid to prop up the sector. Despite these measures, market sentiment remains subdued, with home buying, financing, and construction starts for real estate firms continuing to decline. Economists at HSBC highlighted the need for further support for the property sector, advocating for policies aimed at removing home purchase restrictions in more cities and directing government support towards boosting public housing supply. China's economy shows resilience in early 2024 amid structural challenges China's economy demonstrated resilience at the beginning of 2024, as factory output and retail sales exceeded expectations in the January-February period, offering a positive start for the year and providing some relief to policymakers. Despite ongoing concerns regarding weakness in the property sector, recent data, including better-than-expected exports and consumer inflation indicators, have bolstered hopes of reaching China's ambitious 5.0 per cent GDP growth target for the year. According to data released by the National Bureau of Statistics (NBS), industrial output surged by 7.0 per cent in the first two months of the year, surpassing analysts' forecasts and marking the quickest growth in almost two years. Retail sales, a key indicator of consumption, rose by 5.5 per cent, although this was slightly slower than the increase observed in December. The eight-day Lunar New Year holiday in February saw a robust return of travel, supporting revenue in the tourism and hospitality sectors and driving a 3 per cent growth in oil refinery throughput to meet increased demand for transport fuels. According to Reuters, Louise Loo, a China economist at Oxford Economics, cautioned that while the activity data showed stabilisation at the start of the year, there are reasons to believe that some of the strength could be temporary. Loo highlighted that festivities-related spending during the Lunar New Year may have buoyed consumer sentiment temporarily, but sustaining robust consumer spending throughout the year without decisive consumption-related stimulus measures could be challenging. Despite the positive economic indicators, China continues to face structural challenges, particularly in its property sector, which remains a significant drag on the economy and confidence. Goldman Sachs economists emphasised the need for further policy easing, particularly on the demand side, to secure China's ambitious growth target for the year. They noted that while China's sequential growth momentum remained solid in the first quarter, more policy support, especially in areas such as fiscal stimulus, housing, and consumption, is necessary. Despite the challenges, there are signs of resilience in certain areas of the economy. Fixed asset investment expanded by 4.2 per cent in the first two months of 2024, surpassing expectations. Notably, private investment reversed its decline from the previous year, growing by 0.4 per cent during the same period. Premier Li Qiang and central bank governor Pan Gongsheng have pledged to address structural challenges and implement further measures to stabilise growth. (With inputs from Reuters)

China's industrial output surges in early 2024, offers relief to policymakers

Swiss banking powerhouse UBS is eyeing potential merger and acquisition opportunities in the United States in the coming years, according to remarks made by its chairman to the NZZ newspaper on Sunday.

Colm Kelleher stated that UBS, having recently absorbed former rival Credit Suisse, aims to bolster its US wealth-management arm through strategic M&amp;A endeavors within the next three to four years.

Kelleher emphasised that such expansion plans are targeted specifically within the realm of wealth management.

The decision to focus on wealth management comes amidst scrutiny over UBS's substantial balance sheet, which now surpasses $1.6 trillion—nearly double the size of the Swiss economy.

This notable increase in scale has prompted regulatory concerns in Switzerland regarding the oversight of systemically important banks.

Despite calls for UBS to adhere to higher capital requirements in light of its size, Kelleher expressed reservations, suggesting that excessive capitalisation could negatively impact shareholders and customers alike by increasing banking costs.

Following the merger with Credit Suisse, UBS witnessed the return of former CEO Sergio Ermotti for a second stint at the helm.

Kelleher hailed Ermotti as the ideal candidate for the "Herculean task" of integrating Credit Suisse into UBS's operations.

Furthermore, Kelleher indicated a preference for Ermotti's successor to be selected from within UBS, underlining a commitment to internal talent and continuity within the organisation's leadership.

UBS's strategic outlook reflects a proactive approach to navigating the evolving landscape of global banking, particularly in the United States.

With a focus on expanding its wealth-management business and leveraging synergies from the Credit Suisse merger, the bank aims to reinforce its position as a major player in the competitive US financial market.

(With inputs from Reuters)

Swiss banking powerhouse UBS is eyeing potential merger and acquisition opportunities in the United States in the coming years, according to remarks made by its chairman to the NZZ newspaper on Sunday.

Swiss banking powerhouse UBS is eyeing potential merger and acquisition opportunities in the United States in the coming years, according to remarks made by its chairman to the NZZ newspaper on Sunday. Colm Kelleher stated that UBS, having recently absorbed former rival Credit Suisse, aims to bolster its US wealth-management arm through strategic M&A endeavors within the next three to four years. Kelleher emphasised that such expansion plans are targeted specifically within the realm of wealth management. The decision to focus on wealth management comes amidst scrutiny over UBS's substantial balance sheet, which now surpasses $1.6 trillion—nearly double the size of the Swiss economy. This notable increase in scale has prompted regulatory concerns in Switzerland regarding the oversight of systemically important banks. Despite calls for UBS to adhere to higher capital requirements in light of its size, Kelleher expressed reservations, suggesting that excessive capitalisation could negatively impact shareholders and customers alike by increasing banking costs. Following the merger with Credit Suisse, UBS witnessed the return of former CEO Sergio Ermotti for a second stint at the helm. Kelleher hailed Ermotti as the ideal candidate for the "Herculean task" of integrating Credit Suisse into UBS's operations. Furthermore, Kelleher indicated a preference for Ermotti's successor to be selected from within UBS, underlining a commitment to internal talent and continuity within the organisation's leadership. UBS's strategic outlook reflects a proactive approach to navigating the evolving landscape of global banking, particularly in the United States. With a focus on expanding its wealth-management business and leveraging synergies from the Credit Suisse merger, the bank aims to reinforce its position as a major player in the competitive US financial market. (With inputs from Reuters)

UBS eyes US expansion through wealth management M&A

Venture Global LNG, headquartered in Arlington, Virginia, announced its acquisition of nine liquefied natural gas (LNG) transport vessels on Sunday, signaling a significant expansion of its capabilities in selling and shipping its own cargoes.

The move comes as Venture Global seeks to bolster its position in the LNG market, having already exported hundreds of cargoes since the commencement of liquefying gas for export in 2022 from its facility in Louisiana.

Since its inception, Venture Global has primarily relied on leased vessels from other companies for its shipping needs.

However, the acquisition of these nine vessels, to be built in South Korea with the first expected to be delivered later this year, marks a strategic shift towards greater ownership and control over its logistics operations.

Despite Venture Global's successful shipment of over 250 cargoes from its Calcasieu Pass plant, complaints have arisen from major energy companies holding long-term contracts.

These companies argue that they should have been given the opportunity to purchase these cargoes, prompting arbitration proceedings and regulatory scrutiny.

Addressing concerns about the delayed full commercial operations of the Calcasieu Pass plant due to equipment malfunctions, CEO Mike Sabel reassured reporters that repairs were progressing well. He expressed hope that the commissioning process would be completed by the end of the year.

The inability of the Calcasieu Pass plant to achieve full commercial operation has resulted in significant revenue losses for contracted customers such as BP, Shell, and Repsol.

These companies have raised objections and sought regulatory intervention to ensure transparency in the plant's startup process.

Venture Global's expansion efforts also extend beyond its existing operations in Louisiana. The company has secured a long-term deal for the use of an import terminal in Europe, further solidifying its presence in the global LNG supply chain.

Looking ahead, Venture Global aims to commence production at the second phase of the Calcasieu Pass plant by 2026, pending regulatory approval.

With plans for additional projects, including one in Plaquemines, Louisiana, the company is poised to surpass industry giants like Shell, BP, and Exxon in LNG capacity.

Despite challenges such as the temporary pause on new LNG project approvals by the US government, Venture Global remains optimistic about its future prospects.

CEO Mike Sabel emphasised the company's readiness to explore opportunities for liquefaction facilities outside the US if necessary, while also highlighting the current increase in demand for LNG cargoes from Europe.

Furthermore, Sabel reiterated the company's stance on independence, stating that Venture Global is not seeking mergers or partnerships.

With financial stability and a focus on continued expansion, Venture Global remains steadfast in its pursuit of growth in the LNG market.

(With inputs from Reuters)

Venture Global LNG, headquartered in Arlington, Virginia, announced its acquisition of nine liquefied natural gas (LNG) transport vessels on Sunday, signaling a significant expansion of its capabilities in selling and shipping its own cargoes.

Venture Global LNG, headquartered in Arlington, Virginia, announced its acquisition of nine liquefied natural gas (LNG) transport vessels on Sunday, signaling a significant expansion of its capabilities in selling and shipping its own cargoes. The move comes as Venture Global seeks to bolster its position in the LNG market, having already exported hundreds of cargoes since the commencement of liquefying gas for export in 2022 from its facility in Louisiana. Since its inception, Venture Global has primarily relied on leased vessels from other companies for its shipping needs. However, the acquisition of these nine vessels, to be built in South Korea with the first expected to be delivered later this year, marks a strategic shift towards greater ownership and control over its logistics operations. Despite Venture Global's successful shipment of over 250 cargoes from its Calcasieu Pass plant, complaints have arisen from major energy companies holding long-term contracts. These companies argue that they should have been given the opportunity to purchase these cargoes, prompting arbitration proceedings and regulatory scrutiny. Addressing concerns about the delayed full commercial operations of the Calcasieu Pass plant due to equipment malfunctions, CEO Mike Sabel reassured reporters that repairs were progressing well. He expressed hope that the commissioning process would be completed by the end of the year. The inability of the Calcasieu Pass plant to achieve full commercial operation has resulted in significant revenue losses for contracted customers such as BP, Shell, and Repsol. These companies have raised objections and sought regulatory intervention to ensure transparency in the plant's startup process. Venture Global's expansion efforts also extend beyond its existing operations in Louisiana. The company has secured a long-term deal for the use of an import terminal in Europe, further solidifying its presence in the global LNG supply chain. Looking ahead, Venture Global aims to commence production at the second phase of the Calcasieu Pass plant by 2026, pending regulatory approval. With plans for additional projects, including one in Plaquemines, Louisiana, the company is poised to surpass industry giants like Shell, BP, and Exxon in LNG capacity. Despite challenges such as the temporary pause on new LNG project approvals by the US government, Venture Global remains optimistic about its future prospects. CEO Mike Sabel emphasised the company's readiness to explore opportunities for liquefaction facilities outside the US if necessary, while also highlighting the current increase in demand for LNG cargoes from Europe. Furthermore, Sabel reiterated the company's stance on independence, stating that Venture Global is not seeking mergers or partnerships. With financial stability and a focus on continued expansion, Venture Global remains steadfast in its pursuit of growth in the LNG market. (With inputs from Reuters)

Venture Global LNG expands fleet and navigates challenges in LNG market

In the United Kingdom, the economic outlook continues to remain bleak. The latest government figures on insolvency paints a worrying picture of the UK's business environment. The number of companies declared insolvent in England and wales in February was 17% higher than 2023. 2,102 companies were declared insolvent, up from 1,801 in February 2023.

Over 2000 firms declare insolvency in February 2024

Delta Air Lines has announced plans to resume daily flights between New York-JFK and Tel Aviv, starting June 7.

This follows an extensive security assessment by the airline and makes Delta the second major US carrier to restart flights to Israel after the Hamas attack in October 2023.

United Airlines previously resumed flights from Newark to Tel Aviv earlier this month, but hasn't announced plans for restarting flights from other US cities until fall.

Delta's new route will offer about 2,000 seats weekly from New York to Israel, and the airline said it's "closely monitoring the situation in Israel".

The restart of flights by major US carriers is seen as a potential turning point for travel to Israel, which had suffered due to security concerns following the Hamas attacks and Israeli retaliation.

Before the October incident, United Airlines operated four daily flights directly to Tel Aviv from various US cities.

The airline has stated that it will evaluate resuming flights from those locations in the fall.

Lufthansa, Swiss, Austrian, Aegean, and Air France are among the numerous carriers that have already started operating again to Tel Aviv.

American Airlines, on the other hand, has extended its suspension of flights to Israel until October 28th. Lawmakers had previously urged airlines to resume flights as soon as possible.

(With inputs from Reuters)

Delta Air Lines has announced plans to resume daily flights between New York-JFK and Tel Aviv, starting June 7. This follows an extensive security assessment by the airline and makes Delta the second major US carrier to restart flights to Israel after the Hamas attack in October 2023.

Delta Air Lines has announced plans to resume daily flights between New York-JFK and Tel Aviv, starting June 7. This follows an extensive security assessment by the airline and makes Delta the second major US carrier to restart flights to Israel after the Hamas attack in October 2023. United Airlines previously resumed flights from Newark to Tel Aviv earlier this month, but hasn't announced plans for restarting flights from other US cities until fall. Delta's new route will offer about 2,000 seats weekly from New York to Israel, and the airline said it's "closely monitoring the situation in Israel". The restart of flights by major US carriers is seen as a potential turning point for travel to Israel, which had suffered due to security concerns following the Hamas attacks and Israeli retaliation. Before the October incident, United Airlines operated four daily flights directly to Tel Aviv from various US cities. The airline has stated that it will evaluate resuming flights from those locations in the fall. Lufthansa, Swiss, Austrian, Aegean, and Air France are among the numerous carriers that have already started operating again to Tel Aviv. American Airlines, on the other hand, has extended its suspension of flights to Israel until October 28th. Lawmakers had previously urged airlines to resume flights as soon as possible. (With inputs from Reuters)

Delta Air Lines to resume flights to Tel Aviv in June

Chinese property developer Country Garden holdings failed to pay a coupon Bond due on Tuesday. This adds to the Chinese developer now facing a lawsuit seeking its liquidation offshore. Watch to know more!

China: Country Garden misses $13 million coupon payment due on Tuesday

ITC, one of India's prominent cigarette manufacturers, experienced a surge in its shares, rising over 8 per cent on Wednesday.

This jump followed the sale of approximately 3.5 per cent of its total float shares at a premium, shortly after its major shareholder, British American Tobacco (BAT), announced intentions to reduce its stake.

The block trade, which saw around 4.4 million ITC shares sold at $5.25 each, amounted to approximately $23 million and was executed at a 7.6 per cent premium to the stock's closing price on the preceding day, according to data from LSEG.

The&nbsp;uptick in ITC's shares prompted a noteworthy response in the market, with the company's stocks initially surging by as much as 8.3 per cent before moderating to about a 6 per cent increase, trading at $5.19.

This rally positioned ITC's shares for their most significant intraday surge since mid-September 2021, making them the top gainer on the Nifty 50 index, despite the broader index experiencing a slight decline of 0.2 per cent.

British American Tobacco, renowned for brands such as Dunhill and Lucky Strike, had previously disclosed its plans of reducing its stake in ITC, standing at approximately 29 per cent.

In its announcement on Monday, BAT indicated its consideration of selling a "small part" of its holdings in ITC, the manufacturer of Goldflake cigarettes.

Following BAT's disclosure, ITC's shares experienced a marginal decline of 1.2 per cent the subsequent day.

Regardless of &nbsp;this, the recent surge has reversed the stock's trajectory, with gains of nearly 4 per cent since BAT's initial plan to divest shares was revealed.

While the recent block deal spurred speculation regarding BAT's involvement, clarity on the matter remains elusive.

Analysts suggest that BAT may seek to maintain a stake of at least 25 per cent in ITC to retain its board seats and influence over the company's strategic decisions, as outlined by brokerage firm Jefferies in a note on Monday.

Cigarettes constitute the primary revenue source for ITC, contributing to over 40 per cent of its total revenue.

In line with its efforts to streamline its operations, the company has undertaken initiatives to consolidate its business, including plans to spin off its hotel business.

(With inputs from Reuters)

ITC, one of India's prominent cigarette manufacturers, experienced a surge in its shares, rising over 8 per cent on Wednesday. This jump followed the sale of approximately 3.

ITC, one of India's prominent cigarette manufacturers, experienced a surge in its shares, rising over 8 per cent on Wednesday. This jump followed the sale of approximately 3.5 per cent of its total float shares at a premium, shortly after its major shareholder, British American Tobacco (BAT), announced intentions to reduce its stake. The block trade, which saw around 4.4 million ITC shares sold at $5.25 each, amounted to approximately $23 million and was executed at a 7.6 per cent premium to the stock's closing price on the preceding day, according to data from LSEG. The uptick in ITC's shares prompted a noteworthy response in the market, with the company's stocks initially surging by as much as 8.3 per cent before moderating to about a 6 per cent increase, trading at $5.19. This rally positioned ITC's shares for their most significant intraday surge since mid-September 2021, making them the top gainer on the Nifty 50 index, despite the broader index experiencing a slight decline of 0.2 per cent. British American Tobacco, renowned for brands such as Dunhill and Lucky Strike, had previously disclosed its plans of reducing its stake in ITC, standing at approximately 29 per cent. In its announcement on Monday, BAT indicated its consideration of selling a "small part" of its holdings in ITC, the manufacturer of Goldflake cigarettes. Following BAT's disclosure, ITC's shares experienced a marginal decline of 1.2 per cent the subsequent day. Regardless of this, the recent surge has reversed the stock's trajectory, with gains of nearly 4 per cent since BAT's initial plan to divest shares was revealed. While the recent block deal spurred speculation regarding BAT's involvement, clarity on the matter remains elusive. Analysts suggest that BAT may seek to maintain a stake of at least 25 per cent in ITC to retain its board seats and influence over the company's strategic decisions, as outlined by brokerage firm Jefferies in a note on Monday. Cigarettes constitute the primary revenue source for ITC, contributing to over 40 per cent of its total revenue. In line with its efforts to streamline its operations, the company has undertaken initiatives to consolidate its business, including plans to spin off its hotel business. (With inputs from Reuters)

ITC shares surge after block trade, while BAT plans to reduce stake

PwC Australia announced on Wednesday that it would undertake further job cuts, totalling an additional 329 positions, as part of a significant restructuring effort following a national scandal.

This decision comes in the wake of a controversy where a former partner leaked government tax plans, leading to profound repercussions for the firm.

The latest reduction represents approximately 5 per cent of PwC Australia's workforce, with up to 37 partners set to accelerate their retirement within the next nine months.

CEO Kevin Burrowes emphasised the significance of this restructuring, stating, "This has been a very challenging and complex process, but an important one, as we realign our business structure with our new long-term strategy."

The statement puts a spotlight on the necessity for PwC Australia to adapt to the evolving landscape in the aftermath of the scandal, which shook the company's reputation and necessitated decisive action.

These recent job cuts compound the impact of previous reductions, with 338 positions announced to be eliminated in November.

Since the scandal unfolded in January 2023, PwC Australia has been undergoing significant transformations.

Notably, the firm divested its government consulting practice to private equity firm Allegro Funds for $0.66, resulting in the formation of a new entity named Scyne Advisory.

Approximately 1,400 staff members transitioned to the newly established firm as part of this restructuring.

In response to the job cuts, PwC Australia affirmed its commitment to supporting affected employees.

The company stated that individuals who have lost their jobs will be encouraged to apply for new roles created by the restructuring efforts.

Moreover, there will be no freeze on hiring, and new partners are scheduled to be appointed in July, signaling a continuation of the firm's operations and growth trajectory.

The scandal that precipitated these developments involved a former partner who leaked government tax plans, exploiting them to secure work with global companies seeking to restructure their Australian tax affairs.

(With inputs from Reuters)

PwC Australia announced on Wednesday that it would undertake further job cuts, totalling an additional 329 positions, as part of a significant restructuring effort following a national scandal.

PwC Australia announced on Wednesday that it would undertake further job cuts, totalling an additional 329 positions, as part of a significant restructuring effort following a national scandal. This decision comes in the wake of a controversy where a former partner leaked government tax plans, leading to profound repercussions for the firm. The latest reduction represents approximately 5 per cent of PwC Australia's workforce, with up to 37 partners set to accelerate their retirement within the next nine months. CEO Kevin Burrowes emphasised the significance of this restructuring, stating, "This has been a very challenging and complex process, but an important one, as we realign our business structure with our new long-term strategy." The statement puts a spotlight on the necessity for PwC Australia to adapt to the evolving landscape in the aftermath of the scandal, which shook the company's reputation and necessitated decisive action. These recent job cuts compound the impact of previous reductions, with 338 positions announced to be eliminated in November. Since the scandal unfolded in January 2023, PwC Australia has been undergoing significant transformations. Notably, the firm divested its government consulting practice to private equity firm Allegro Funds for $0.66, resulting in the formation of a new entity named Scyne Advisory. Approximately 1,400 staff members transitioned to the newly established firm as part of this restructuring. In response to the job cuts, PwC Australia affirmed its commitment to supporting affected employees. The company stated that individuals who have lost their jobs will be encouraged to apply for new roles created by the restructuring efforts. Moreover, there will be no freeze on hiring, and new partners are scheduled to be appointed in July, signaling a continuation of the firm's operations and growth trajectory. The scandal that precipitated these developments involved a former partner who leaked government tax plans, exploiting them to secure work with global companies seeking to restructure their Australian tax affairs. (With inputs from Reuters)

PwC Australia implements further job cuts amid restructuring following scandal

During an official visit to Manila on Monday, US Commerce Secretary Gina Raimondo revealed that American companies are poised to unveil investments totaling more than $1 billion in the Philippines.

This announcement marks a significant milestone as Raimondo leads a two-day trade and investment mission, the first of its kind for the Philippines.

Executives from 22 well-known organisations, including Microsoft, KKR Asia Pacific, Visa, United Airlines, and Google, are part of the group.

Raimondo disclosed that the investments will encompass various sectors such as solar energy, electric vehicles, and digitisation.

One notable investment initiative highlighted during the visit was United Airlines' plan to introduce new flights from Tokyo-Narita to Cebu, Philippines, commencing on July 31.

This move underscores the growing economic collaboration between the United States and the Philippines.

It comes at a time when both nations are intensifying efforts to strengthen economic ties amid heightened geopolitical tensions, particularly in the South China Sea and near Taiwan.

Addressing the joint briefing with Philippine officials after meeting with President Ferdinand Marcos Jr. at the presidential palace, Raimondo emphasised Washington's commitment to expanding trade and investment not only in the Philippines but also throughout the larger Indo-Pacific region.

She referenced the Indo-Pacific Economic Framework, a US-led group comprising 14 nations.

Raimondo reiterated the United States' stance on technological security vis-à-vis China, stating, "My job is to protect the American people and to make sure that our most sophisticated technology... that they can't access it and use it to enable the Chinese military".

Furthermore, Raimondo reaffirmed the enduring alliance between the United States and the Philippines, labeling it as "ironclad."

This sentiment underscores the longstanding mutual defense treaty between the two nations, which has endured for 73 years, making the Philippines Washington's oldest treaty ally in the Asia-Pacific region.

The visit highlights the strategic importance of the Philippines in the broader geopolitical landscape of the Indo-Pacific region.

Following her engagements in Manila, Raimondo is scheduled to travel to Thailand for a series of meetings aimed at bolstering cooperation between the United States and Thailand in key areas such as manufacturing and supply chain resilience.

As part of her agenda, she will lead members of the US President's Export Council to explore avenues for enhancing collaboration and identifying opportunities for mutual benefit.

(With inputs from Reuters)

During an official visit to Manila on Monday, US Commerce Secretary Gina Raimondo revealed that American companies are poised to unveil investments totaling more than $1 billion in the Philippines.

During an official visit to Manila on Monday, US Commerce Secretary Gina Raimondo revealed that American companies are poised to unveil investments totaling more than $1 billion in the Philippines. This announcement marks a significant milestone as Raimondo leads a two-day trade and investment mission, the first of its kind for the Philippines. Executives from 22 well-known organisations, including Microsoft, KKR Asia Pacific, Visa, United Airlines, and Google, are part of the group. Raimondo disclosed that the investments will encompass various sectors such as solar energy, electric vehicles, and digitisation. One notable investment initiative highlighted during the visit was United Airlines' plan to introduce new flights from Tokyo-Narita to Cebu, Philippines, commencing on July 31. This move underscores the growing economic collaboration between the United States and the Philippines. It comes at a time when both nations are intensifying efforts to strengthen economic ties amid heightened geopolitical tensions, particularly in the South China Sea and near Taiwan. Addressing the joint briefing with Philippine officials after meeting with President Ferdinand Marcos Jr. at the presidential palace, Raimondo emphasised Washington's commitment to expanding trade and investment not only in the Philippines but also throughout the larger Indo-Pacific region. She referenced the Indo-Pacific Economic Framework, a US-led group comprising 14 nations. Raimondo reiterated the United States' stance on technological security vis-à-vis China, stating, "My job is to protect the American people and to make sure that our most sophisticated technology... that they can't access it and use it to enable the Chinese military". Furthermore, Raimondo reaffirmed the enduring alliance between the United States and the Philippines, labeling it as "ironclad." This sentiment underscores the longstanding mutual defense treaty between the two nations, which has endured for 73 years, making the Philippines Washington's oldest treaty ally in the Asia-Pacific region. The visit highlights the strategic importance of the Philippines in the broader geopolitical landscape of the Indo-Pacific region. Following her engagements in Manila, Raimondo is scheduled to travel to Thailand for a series of meetings aimed at bolstering cooperation between the United States and Thailand in key areas such as manufacturing and supply chain resilience. As part of her agenda, she will lead members of the US President's Export Council to explore avenues for enhancing collaboration and identifying opportunities for mutual benefit. (With inputs from Reuters)

US Commerce Secretary announces $1 billion investments in Philippines

US District Judge Adrienne Nelson has scheduled a hearing for August 26 to consider the Federal Trade Commission's request for a preliminary injunction against Kroger's $24.6 billion acquisition of Albertsons, a smaller rival.

The FTC's lawsuit, filed last month, aims to block the deal, which would establish a supermarket conglomerate boasting over 4,000 stores.

According to the FTC, this merger could potentially lead to increased grocery prices for millions of American consumers, prompting concerns from lawmakers and consumer advocacy groups.

Kroger, the second-largest player in the US grocery market behind Walmart, remains committed to defending the merger in court despite the legal challenges.

Kroger CEO Rodney McMullen reiterated the company's stance, emphasising their belief that the merger represents the best outcome for American families.

However, until the legal issues are resolved, the companies cannot proceed with the acquisition.

The FTC, along with eight states, has opposed the merger, arguing that it would stifle competition between Kroger and Albertsons.

The Biden administration's focus on lowering grocery prices and its reluctance towards large-scale mergers that could result in price hikes have intensified the scrutiny on this deal.

The FTC contends that the merger, announced in October 2022, could potentially eliminate significant competition in the grocery sector.

In response to concerns raised by regulators, Kroger has proposed divesting 413 stores and eight distribution centers to C&amp;S Wholesale Grocers.

Additionally, the company indicated a potential need to shed an additional 237 stores to secure regulatory approval.

However, the FTC has deemed Kroger's divestment proposal inadequate, further complicating the merger process.

Kroger has defended its business model, highlighting its track record of reducing prices annually since 2003.

The company asserts that this strategy will be extended to the merged entity, assuring consumers of continued affordability in the grocery market.

Regardless of these assurances, the FTC remains skeptical about the potential impacts of the merger on competition and consumer prices.

(With inputs from Reuters)

US District Judge Adrienne Nelson has scheduled a hearing for August 26 to consider the Federal Trade Commission's request for a preliminary injunction against Kroger's $24.

US District Judge Adrienne Nelson has scheduled a hearing for August 26 to consider the Federal Trade Commission's request for a preliminary injunction against Kroger's $24.6 billion acquisition of Albertsons, a smaller rival. The FTC's lawsuit, filed last month, aims to block the deal, which would establish a supermarket conglomerate boasting over 4,000 stores. According to the FTC, this merger could potentially lead to increased grocery prices for millions of American consumers, prompting concerns from lawmakers and consumer advocacy groups. Kroger, the second-largest player in the US grocery market behind Walmart, remains committed to defending the merger in court despite the legal challenges. Kroger CEO Rodney McMullen reiterated the company's stance, emphasising their belief that the merger represents the best outcome for American families. However, until the legal issues are resolved, the companies cannot proceed with the acquisition. The FTC, along with eight states, has opposed the merger, arguing that it would stifle competition between Kroger and Albertsons. The Biden administration's focus on lowering grocery prices and its reluctance towards large-scale mergers that could result in price hikes have intensified the scrutiny on this deal. The FTC contends that the merger, announced in October 2022, could potentially eliminate significant competition in the grocery sector. In response to concerns raised by regulators, Kroger has proposed divesting 413 stores and eight distribution centers to C&S Wholesale Grocers. Additionally, the company indicated a potential need to shed an additional 237 stores to secure regulatory approval. However, the FTC has deemed Kroger's divestment proposal inadequate, further complicating the merger process. Kroger has defended its business model, highlighting its track record of reducing prices annually since 2003. The company asserts that this strategy will be extended to the merged entity, assuring consumers of continued affordability in the grocery market. Regardless of these assurances, the FTC remains skeptical about the potential impacts of the merger on competition and consumer prices. (With inputs from Reuters)

FTC hearing set for Kroger-Albertsons merger amid price hike concerns

Troubled Ed tech giant Byju's has managed to pay a quarter, roughly 25% of its employees, their full February salaries. However, for most of its workforce, paychecks are delayed.

25% of Byju's employees receive full February salaries

Chinese authorities have sent a clear message that struggling real estate developers shouldn't expect a significant bailout, as the government puts on a spotlight on accountability and market principles in the face of financial woes, as per a CNBC report.

Ni Hong, Minister of Housing and Urban-Rural Development, stated during a press conference that insolvent companies must face the consequences of bankruptcy or restructuring, warning that those who harm the interests of the masses will be punished.

These remarks were made during China's annual parliamentary meetings, reflecting the government's stance amid defaults by major developers like Evergrande and Country Garden.

Ni Hong's comments underscore the government's resolve to address the challenges within the real estate sector, which has been grappling with defaults and plunging new home sales.

Beijing's crackdown on developers' heavy reliance on debt for growth since 2020 aimed to curb speculation in the property market.

However, this crackdown left many developers unable to complete construction projects due to financial constraints, exacerbating the sector's troubles.

Authorities have taken steps to provide financing to some developers but remain committed to reducing the role of real estate in the economy.

The annual government gathering this year has highlighted China's focus on investing in high-end manufacturing capabilities, with less emphasis on the real estate sector compared to previous years.

While discussing "people's livelihoods," Ni Hong emphasised the promotion of housing sales and affordable housing development while stressing the importance of long-term considerations.

Real estate's significant impact on China's overall economy cannot be understated, with the sector once accounting for about 25 per cent of GDP, including related sectors such as construction.

Premier Li Qiang's government work report for the upcoming year stressed on the need to foster a new development model for real estate, focusing on scaling up the supply of government-subsidised housing and improving basic systems for commodity housing to meet diverse housing demands.

The government's commitment to guaranteeing housing access while advancing towards a more sustainable economic model is reflected in these initiatives. 
The English-language version of the report highlighted the government's efforts to meet people's essential housing needs.

Chinese authorities have sent a clear message that struggling real estate developers shouldn't expect a significant bailout, as the government puts on a spotlight on accountability and market principles in the face of financial woes, as per a CNBC report.

Chinese authorities have sent a clear message that struggling real estate developers shouldn't expect a significant bailout, as the government puts on a spotlight on accountability and market principles in the face of financial woes, as per a CNBC report. Ni Hong, Minister of Housing and Urban-Rural Development, stated during a press conference that insolvent companies must face the consequences of bankruptcy or restructuring, warning that those who harm the interests of the masses will be punished. These remarks were made during China's annual parliamentary meetings, reflecting the government's stance amid defaults by major developers like Evergrande and Country Garden. Ni Hong's comments underscore the government's resolve to address the challenges within the real estate sector, which has been grappling with defaults and plunging new home sales. Beijing's crackdown on developers' heavy reliance on debt for growth since 2020 aimed to curb speculation in the property market. However, this crackdown left many developers unable to complete construction projects due to financial constraints, exacerbating the sector's troubles. Authorities have taken steps to provide financing to some developers but remain committed to reducing the role of real estate in the economy. The annual government gathering this year has highlighted China's focus on investing in high-end manufacturing capabilities, with less emphasis on the real estate sector compared to previous years. While discussing "people's livelihoods," Ni Hong emphasised the promotion of housing sales and affordable housing development while stressing the importance of long-term considerations. Real estate's significant impact on China's overall economy cannot be understated, with the sector once accounting for about 25 per cent of GDP, including related sectors such as construction. Premier Li Qiang's government work report for the upcoming year stressed on the need to foster a new development model for real estate, focusing on scaling up the supply of government-subsidised housing and improving basic systems for commodity housing to meet diverse housing demands. The government's commitment to guaranteeing housing access while advancing towards a more sustainable economic model is reflected in these initiatives. The English-language version of the report highlighted the government's efforts to meet people's essential housing needs.

Chinese authorities signal no major bailout for struggling real estate developers

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