A price breakout for Ethereum has occurred as a result of the successful Shanghai upgrades. After the upgrade, there was an uptick in optimistic sentiment, and the price momentarily reached a year-to-date high of $2100.

Ether rallies after successful tech upgrade

Singapore has the world's best business environment&nbsp;for the next five years, as per a report by a leading market intelligence&nbsp;group.&nbsp;

The Economist Intelligence Unit's Business Environment Rankings has named the Southeast Asian city-state as the best business destination due to its high level of economic and political stability.&nbsp;

Canada and Denmark are in the second and third position respectively. The United States, New Zealand and other European countries make up the top 10 list. &nbsp;

Only one other Asian territory finds a place in the top 10 - Hong Kong. The Special Administrative Region of China, a traditional rival of Singapore, occupies the seventh position.&nbsp;

"Our ranking shows that North America and western Europe remain the best regions in the world to do business," Economist Intelligence Unit report quoted Prianthi Roy, country forecast manager and Europe analyst, as saying.&nbsp;

While Singapore and Hong Kong are the only Asian territories in the top 10, several Asian countries have moved up in the rankings.&nbsp;

Vietnam is the biggest gainer, climbing 12 spots in the latest rankings. Thailand has risen 10 places since 2022 while India has managed to move up six places.&nbsp;

Vietnam, in particular, has fared so well due to companies pursuing the policy of having an alternate supply chain&nbsp;in Vietnam. With favourable investment policies and competitive labour costs, Vietnam is being seen as an alternate manufacturing hub to China.&nbsp;

With a stringent zero-Covid policy that ended only last year&nbsp;and the consequent economic distress, it comes as no surprise that the biggest loser in this year's rankings is China.&nbsp;

"The outlook for China’s business environment has deteriorated as a result of greater policy uncertainty, US-China tensions and a more challenging longer-term outlook for growth," the report noted.&nbsp;

China, the report said, now ranks below Malaysia, Thailand, Vietnam and India for doing business.&nbsp;

Singapore has the world's best business environment for the next five years, as per a report by a leading market intelligence group. The Economist Intelligence Unit's Business Environment Rankings has named the Southeast Asian city-state as the best business destination due to its high level of economic and political stability.

Singapore has the world's best business environment for the next five years, as per a report by a leading market intelligence group. The Economist Intelligence Unit's Business Environment Rankings has named the Southeast Asian city-state as the best business destination due to its high level of economic and political stability. Canada and Denmark are in the second and third position respectively. The United States, New Zealand and other European countries make up the top 10 list. Only one other Asian territory finds a place in the top 10 - Hong Kong. The Special Administrative Region of China, a traditional rival of Singapore, occupies the seventh position. "Our ranking shows that North America and western Europe remain the best regions in the world to do business," Economist Intelligence Unit report quoted Prianthi Roy, country forecast manager and Europe analyst, as saying. While Singapore and Hong Kong are the only Asian territories in the top 10, several Asian countries have moved up in the rankings. Vietnam is the biggest gainer, climbing 12 spots in the latest rankings. Thailand has risen 10 places since 2022 while India has managed to move up six places. Vietnam, in particular, has fared so well due to companies pursuing the policy of having an alternate supply chain in Vietnam. With favourable investment policies and competitive labour costs, Vietnam is being seen as an alternate manufacturing hub to China. With a stringent zero-Covid policy that ended only last year and the consequent economic distress, it comes as no surprise that the biggest loser in this year's rankings is China. "The outlook for China’s business environment has deteriorated as a result of greater policy uncertainty, US-China tensions and a more challenging longer-term outlook for growth," the report noted. China, the report said, now ranks below Malaysia, Thailand, Vietnam and India for doing business.

Singapore is world's best business hub: Economist Intelligence Unit report

Right now, Bitcoin is flying. The leading cryptocurrency is up more than 7% from the previous day, which means it has reached the psychological threshold of $30,000.

Ethereum finds buying interest around $2,000

A group of leading Indian CEOs will be led by Indian Commerce Minister Piyush Goyal at the India France Business Summit in Paris on Tuesday. The upcoming trip is expected to improve trade ties with France, the second-largest economy in the European Union.

India talks business and trade with France

The hastily arranged alliance of Credit Suisse and UBS could trigger a loss of 36,000 jobs across the world, according to German media. The management brought in to wade through the stormy waters of the merger may be looking to cut between 20 per cent to 30 per cent of the workforce, meaning somewhere between 25,000 to 36,000 could end up losing their jobs, reported SonntagsZeitung.

The hastily arranged alliance of Credit Suisse and UBS could trigger a loss of 36,000 jobs across the world, according to German media. The management brought in to wade through the stormy waters of the merger may be looking to cut between 20 per cent to 30 per cent of the workforce, meaning somewhere between 25,000 to 36,000 could end up losing their jobs, reported SonntagsZeitung. UBS and Credit Suisse employ 72,000 and 50,000 people worldwide respectively. Switzerland, the base of Credit Suisse, may alone see a cut of 11,000 jobs. Meanwhile, jobs in the US could also be at severe risk, the publication stated. The release of the report comes in the same week when UBS announced it was bringing its former chief executive Sergio Ermotti to handle the absorption of troubled rival Credit Suisse. WATCH | Why you should be worried if Credit Suisse collapses Apart from thousands losing their jobs, investors have also lost billions. Reportedly, over $17.3 billion worth of bonds issued by Credit Suisse bank have become worthless after UBS came in with the takeover bid. Under the takeover deal, UBS will be writing down the bank's additional tier 1 (AT1) bonds to increase core capital. “The extraordinary government support will trigger a complete write-down of the nominal value of all AT1 shares of Credit Suisse in the amount of around 16 billion [Swiss francs],” said Swiss regulator FINMA. The AT1 bonds were primarily created for the failing banks to absorb losses, thereby reducing the chances of a taxpayer-funded bailout. Because of the higher risks, the AT1 bonds provided a greater yield than most other bonds and they became a quick favourite of institutional investors. ALSO READ | Over $17 billion worth of bonds become zero after Credit Suisse takeover by UBS After reports came in that Credit Suisse had collapsed, the Swiss government stepped up and arranged a takeover by the UBS Group for $3.25 billion. The takeover was aimed at preventing economic turmoil from spreading throughout the country and beyond. (With inputs from agencies) WATCH WION LIVE HERE:

Hastily arranged marriage of UBS-Credit Suisse could lead to loss of 36,000 jobs: Report

In the midst of a worldwide banking crisis that has caused bond yields to drop on safe haven trading, India revealed a fiscal first-half borrowing plan that is broadly consistent with prior years.

India may sell green bonds in second half of fiscal

A group of experts and industry executives including billionaire owner of Twitter and Tesla, Elon Musk have called for a six-month pause in developing AI systems more powerful than OpenAI's latest program GPT4 citing potential risk to society.

OpenAI faces criticism over GPT-4 launch

With no rivals appearing as the nomination period came to an end, US Treasury Secretary Janet Yellen on Wednesday dismissed the notion of a short-term capital increase for the World Bank and predicted that US nominee Ajay Banga would be elected as the organization's next head.

World Bank reforms to vastly expand lending

The nation's exports of products and services reached record highs in 2021–2022 of $422 billion and $254 billion, respectively, bringing the total to $676 billion. India's total exports have reached a record high of $750 billion, according to Piyush Goyal, the Union Minister of Commerce, on Tuesday.

India: A bright spot among global headwinds

At a time when China is vying to recover its economy and give a push to its private sector, the country is also amping up efforts to crack down on online comments that affect the reputation of private businesses and entrepreneurs in a negative way.&nbsp;

Shen Yue of Cyberspace Administration of China said in a news briefing, "False information against enterprises and entrepreneurs, especially private enterprises and private entrepreneurs, appear from time to time, damaging the brand image of enterprises."&nbsp;

Also Read | <a href="https://www.wionews.com/india-news/marriage-a-license-to-rape-indias-top-court-to-hear-pleas-on-marital-rape-these-countries-criminalise-it-576588">Marriage a license to rape? India's top court to hear pleas on marital rape; these countries criminalise it</a>

As per Shen, the mala fide comments online is playing a damaging role and is hurting the repute and the credibility of the businesses. The official said that it is leading to economic losses. According to the Chinese official, the regulating authority will "severely crack down on illegal online activities that maliciously damage the image and reputation of enterprises and entrepreneurs, and even seek illegal benefits from them," reported Reuters.&nbsp;

The plans include clamping down on fake information and fabricated stories which are shared with an intention to negatively impact the businesses.&nbsp;

Also Read | <a href="https://www.wionews.com/world/us-cops-in-mississippi-shoot-in-black-mens-mouth-sheriff-office-under-scrutiny-576648">US cops in Mississippi shoot in Black man's mouth; sheriff office under scrutiny</a>

Such matters will be dealt in a timely fashion and will be in alignment with the laws, the reports said.

During the past two years of COVID-19 pandemic, China adopted a high-handed approach in terms of the extreme regulatory measures for businesses, which has resulted in impacting the companies badly.&nbsp;

Watch | Silicon Valley Bank collapse: Textbook case of mismanagement

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The newly appointed Chinese premiere Li Qiang also pledged to work on the daunting task of reviving China’s economy. Li is believed to be leading the country by walking on an economic agenda asserted by Chinese President Xi Jinping. Earlier, Chinese Communist Party (CCP) during Covid pandemic also waged a crackdown on social media content and tried to shun the anti-government voices.&nbsp;

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At a time when China is vying to recover its economy and give a push to its private sector, the country is also amping up efforts to crack down on online comments that affect the reputation of private businesses and entrepreneurs in a negative way.

At a time when China is vying to recover its economy and give a push to its private sector, the country is also amping up efforts to crack down on online comments that affect the reputation of private businesses and entrepreneurs in a negative way. Shen Yue of Cyberspace Administration of China said in a news briefing, "False information against enterprises and entrepreneurs, especially private enterprises and private entrepreneurs, appear from time to time, damaging the brand image of enterprises." Also Read | Marriage a license to rape? India's top court to hear pleas on marital rape; these countries criminalise it As per Shen, the mala fide comments online is playing a damaging role and is hurting the repute and the credibility of the businesses. The official said that it is leading to economic losses. According to the Chinese official, the regulating authority will "severely crack down on illegal online activities that maliciously damage the image and reputation of enterprises and entrepreneurs, and even seek illegal benefits from them," reported Reuters. The plans include clamping down on fake information and fabricated stories which are shared with an intention to negatively impact the businesses. Also Read | US cops in Mississippi shoot in Black man's mouth; sheriff office under scrutiny Such matters will be dealt in a timely fashion and will be in alignment with the laws, the reports said. During the past two years of COVID-19 pandemic, China adopted a high-handed approach in terms of the extreme regulatory measures for businesses, which has resulted in impacting the companies badly. Watch | Silicon Valley Bank collapse: Textbook case of mismanagement × The newly appointed Chinese premiere Li Qiang also pledged to work on the daunting task of reviving China’s economy. Li is believed to be leading the country by walking on an economic agenda asserted by Chinese President Xi Jinping. Earlier, Chinese Communist Party (CCP) during Covid pandemic also waged a crackdown on social media content and tried to shun the anti-government voices. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

China to root out malicious online comments targeting businesses, entrepreneurs

The US has announced that individuals travelling to the country on a business or tourist visa — B-1 and B-2 — can apply for new jobs and even appear in interviews, but the prospective employees must ensure that they have changed their visa status before starting a new role.

B-1 and B-2 visas are generally referred to as B visas, and they are the most common types of visa issued for a wide range of uses in the United States. The B-1 visa is issued mainly for short-term business trips, while the B-2 visa is issued mainly for travelling, tourism purposes.

In a note, and a series of tweets, the US Citizenship and Immigration Services (USCIS) said on Wednesday when nonimmigrant workers are laid off, they may not be aware of their options and may, in some instances, wrongly assume that they have no option but to leave the country within 60 days.

The move by the USCIS came as thousands of highly skilled foreign-born workers, including Indians, in the US, have lost their jobs due to a series of recent layoffs at companies like Google, Microsoft and Amazon.

They are now struggling to find new employment within the stipulated 60-day period under their work visas following the termination of their employment to stay in the country.

The maximum 60-day grace period starts the day after termination of employment, which is typically determined based on the last day for which a salary or wage is paid.

When a nonimmigrant worker's employment is terminated, either voluntarily or involuntarily, they typically may take one of the several actions, if eligible, to remain in a period of authorised stay in the United States.

These include filing an application for a change of nonimmigrant status; filing an application for adjustment of status; filing an application for a "compelling circumstances" employment authorisation document; or being the beneficiary of a nonfrivolous petition to change employer.

"If one of these actions occurs within the up to 60-day grace period, the nonimmigrant's period of authorised stay in the United States can exceed 60 days, even if they lose their previous nonimmigrant status," the USCIS said.

If the worker takes no action within the grace period, they and their dependents may then need to depart the United States within 60 days, or when their authorised validity period ends, whichever is shorter, it said.

"Many people have asked if they can look for a new job while in B-1 or B-2 status. The answer is, yes. Searching for employment and interviewing for a position are permissible B-1 or B-2 activities," the USCIS said in a series of tweets.

At the same time, the USCIS said that before beginning any new employment, a petition and request for a change of status from B-1 or B-2 to an employment-authorised status must be approved, and the new status must take effect.

"Alternatively, if the change of status request is denied or the petition for new employment requested consular or port of entry notification, the individual must depart the US and be admitted in an employment-authorised classification before beginning the new employment," the USCIS said.

Amidst massive layoffs in the American tech sector that have resulted in a large number of Indian professionals being jobless, two Indian-American organisations launched an online petition last month, urging US President Joe Biden to extend the grace period of H-1B visas holders from two months to a year.

This means that once fired from a job, a foreign tech worker on H-1B visas would have one year to find a new job instead of the existing duration of 60 days, after which they have to leave the country.

The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. 
Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.

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The US has announced that individuals travelling to the country on a business or tourist visa — B-1 and B-2 — can apply for new jobs and even appear in interviews, but the prospective employees must ensure that they have changed their visa status before starting a new role.

The US has announced that individuals travelling to the country on a business or tourist visa — B-1 and B-2 — can apply for new jobs and even appear in interviews, but the prospective employees must ensure that they have changed their visa status before starting a new role. B-1 and B-2 visas are generally referred to as B visas, and they are the most common types of visa issued for a wide range of uses in the United States. The B-1 visa is issued mainly for short-term business trips, while the B-2 visa is issued mainly for travelling, tourism purposes. In a note, and a series of tweets, the US Citizenship and Immigration Services (USCIS) said on Wednesday when nonimmigrant workers are laid off, they may not be aware of their options and may, in some instances, wrongly assume that they have no option but to leave the country within 60 days. The move by the USCIS came as thousands of highly skilled foreign-born workers, including Indians, in the US, have lost their jobs due to a series of recent layoffs at companies like Google, Microsoft and Amazon. They are now struggling to find new employment within the stipulated 60-day period under their work visas following the termination of their employment to stay in the country. The maximum 60-day grace period starts the day after termination of employment, which is typically determined based on the last day for which a salary or wage is paid. When a nonimmigrant worker's employment is terminated, either voluntarily or involuntarily, they typically may take one of the several actions, if eligible, to remain in a period of authorised stay in the United States. These include filing an application for a change of nonimmigrant status; filing an application for adjustment of status; filing an application for a "compelling circumstances" employment authorisation document; or being the beneficiary of a nonfrivolous petition to change employer. "If one of these actions occurs within the up to 60-day grace period, the nonimmigrant's period of authorised stay in the United States can exceed 60 days, even if they lose their previous nonimmigrant status," the USCIS said. If the worker takes no action within the grace period, they and their dependents may then need to depart the United States within 60 days, or when their authorised validity period ends, whichever is shorter, it said. "Many people have asked if they can look for a new job while in B-1 or B-2 status. The answer is, yes. Searching for employment and interviewing for a position are permissible B-1 or B-2 activities," the USCIS said in a series of tweets. At the same time, the USCIS said that before beginning any new employment, a petition and request for a change of status from B-1 or B-2 to an employment-authorised status must be approved, and the new status must take effect. "Alternatively, if the change of status request is denied or the petition for new employment requested consular or port of entry notification, the individual must depart the US and be admitted in an employment-authorised classification before beginning the new employment," the USCIS said. Amidst massive layoffs in the American tech sector that have resulted in a large number of Indian professionals being jobless, two Indian-American organisations launched an online petition last month, urging US President Joe Biden to extend the grace period of H-1B visas holders from two months to a year. This means that once fired from a job, a foreign tech worker on H-1B visas would have one year to find a new job instead of the existing duration of 60 days, after which they have to leave the country. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

One can apply for jobs, give interviews while on tourist or business visa in US: Federal agency

Oil prices rose more than two&nbsp;per cent&nbsp;on Tuesday, extending a retreat from a 15-month low hit the previous day, as the rescue of Credit Suisse allayed concerns of a banking crisis that would hurt economic growth and cut fuel demand.

Measures to stabilise the banking sector, including a UBS takeover of Credit Suisse and pledges from major central banks to boost liquidity, have calmed fears about the financial system that roiled markets last week.

"Fears of a banking crisis and a recession have eased, brightening the oil demand outlook at least for now," said Fiona Cincotta, Senior Financial Markets Analyst at City Index.

Brent crude settled up $1.53, or 2.1 per cent, at $75.32 a barrel, while US&nbsp;West Texas Intermediate (WTI) closed up $1.69, or 2.5 per cent&nbsp;to $69.33.

On Monday, both benchmarks ended about one&nbsp;per cent&nbsp;higher after falling to their lowest since December 2021, with WTI sinking below $65 at one point. Last week, they shed more than 10 per cent&nbsp;as the banking crisis deepened.

"A 'risk back on' sentiment seems to be coming back to crude, as the latest selloff may very well have been exaggerated liquidation," said Dennis Kissler, senior vice president of trading at BOK Financial.

The US&nbsp;Federal Reserve started its monetary policy meeting on Tuesday. Markets expect a rate hike of 25 basis points, down from previous expectations of a 50 bps increase. Some top central bank watchers have said the Fed could pause further rate hikes or delay releasing new economic projections.

Wall Street indexes also closed sharply higher on Tuesday as fears over liquidity in the banking sector abated and market participants eyed the Fed.

Meanwhile, US&nbsp;crude oil inventories rose by about 3.3 million barrels last week, according to market sources citing American Petroleum Institute figures. That compared with Reuters estimates for a draw of 1.6 million barrels.

Figures from the US&nbsp;Energy Information Agency are due on Wednesday.

A meeting of ministers from OPEC+, which includes members of the Organization of Petroleum Exporting Countries plus Russia and other allies, is scheduled for April 3. OPEC+ sources told Reuters the drop in prices reflects banking fears rather than supply and demand.

Hedge fund manager Pierre Andurand agreed the latest price drop was speculative and not based on fundamentals. He predicted oil will hit $140 a barrel by year-end.

The CEO of energy trader Gunvor, Torbjorn Tornqvist, said he expected oil prices to move higher toward year end as rising Chinese demand tightens the market further.

Money managers cut their net long US&nbsp;crude futures and options positions in the week to March 14, the US Commodity Futures Trading Commission (CFTC) said.

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Oil prices rose more than two per cent on Tuesday, extending a retreat from a 15-month low hit the previous day, as the rescue of Credit Suisse allayed concerns of a banking crisis that would hurt economic growth and cut fuel demand.

Oil prices rose more than two per cent on Tuesday, extending a retreat from a 15-month low hit the previous day, as the rescue of Credit Suisse allayed concerns of a banking crisis that would hurt economic growth and cut fuel demand. Measures to stabilise the banking sector, including a UBS takeover of Credit Suisse and pledges from major central banks to boost liquidity, have calmed fears about the financial system that roiled markets last week. "Fears of a banking crisis and a recession have eased, brightening the oil demand outlook at least for now," said Fiona Cincotta, Senior Financial Markets Analyst at City Index. Brent crude settled up $1.53, or 2.1 per cent, at $75.32 a barrel, while US West Texas Intermediate (WTI) closed up $1.69, or 2.5 per cent to $69.33. On Monday, both benchmarks ended about one per cent higher after falling to their lowest since December 2021, with WTI sinking below $65 at one point. Last week, they shed more than 10 per cent as the banking crisis deepened. "A 'risk back on' sentiment seems to be coming back to crude, as the latest selloff may very well have been exaggerated liquidation," said Dennis Kissler, senior vice president of trading at BOK Financial. The US Federal Reserve started its monetary policy meeting on Tuesday. Markets expect a rate hike of 25 basis points, down from previous expectations of a 50 bps increase. Some top central bank watchers have said the Fed could pause further rate hikes or delay releasing new economic projections. Wall Street indexes also closed sharply higher on Tuesday as fears over liquidity in the banking sector abated and market participants eyed the Fed. Meanwhile, US crude oil inventories rose by about 3.3 million barrels last week, according to market sources citing American Petroleum Institute figures. That compared with Reuters estimates for a draw of 1.6 million barrels. Figures from the US Energy Information Agency are due on Wednesday. A meeting of ministers from OPEC+, which includes members of the Organization of Petroleum Exporting Countries plus Russia and other allies, is scheduled for April 3. OPEC+ sources told Reuters the drop in prices reflects banking fears rather than supply and demand. Hedge fund manager Pierre Andurand agreed the latest price drop was speculative and not based on fundamentals. He predicted oil will hit $140 a barrel by year-end. The CEO of energy trader Gunvor, Torbjorn Tornqvist, said he expected oil prices to move higher toward year end as rising Chinese demand tightens the market further. Money managers cut their net long US crude futures and options positions in the week to March 14, the US Commodity Futures Trading Commission (CFTC) said. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Oil rises 2% in retreat from 15-months low as banking fears subside

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

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

Here, we bring you the news that is trending across WION's social media platforms - Indian American tech sector entrepreneur Vivek Ramaswamy who announced his 2024 U.S presidential bid last week said that if he gets elected he would ban all those U.S companies that are doing business with China.

Trending on WION: GOP Presidential hopeful Ramaswamy vows to ban US companies working with China

In a surprise move, video conferencing platform Zoom has sacked its president Greg Tomb. He served as the company's president for less than a year. He took over the reins in June 2022, and as per BBC, was actively overseeing the company's sales. As per a Zoom spokesperson, the company is not looking to replace Tomb.&nbsp;

At the time of his hiring, Zoom's chief executive officer Eric Yuan, while announcing the appointment, said: "Greg is a highly respected technology industry leader and has deep experience in helping to scale companies at critical junctures."

Watch |&nbsp;Zoom&nbsp;sheds about 1,300 jobs globally

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However, as per a regulatory filing, the former Google executive's contract has been abruptly terminated "without cause".

Zoom, the video conferencing software giant, witnessed a boom during the COVID-19 pandemic days.&nbsp;

At the height of the pandemic, the company emerged as one of the biggest technology winners. With everything from meetings to classes, to weddings and even funerals shifting online, by April 2020, the company reported a whopping 300 million daily participants.

Also read |&nbsp;<a href="https://www.wionews.com/science-technology/zoom-video-struggles-to-thrive-in-post-pandemic-world-announces-layoff-of-15-staff-559802">Zoom video struggles to thrive in post-pandemic world, announces 15 % staff layoff</a>

However, post-pandemic, Zoom, like fellow tech companies, was unable to maintain its pandemic boom and was forced to lay off staff. &nbsp;

The company which during the two years of the pandemic tripled its headcount in February of this year fired 15 per cent or 1300 people from its staff.

As per Yuan, they "didn't take as much time as we should have to thoroughly analyse our teams or assess if we were growing sustainably, toward the highest priorities."

(With inputs from agencies)

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In a surprise move, video conferencing platform Zoom has sacked its president Greg Tomb. He served as the company's president for less than a year. He took over the reins in June 2022, and as per BBC, was actively overseeing the company's sales.

In a surprise move, video conferencing platform Zoom has sacked its president Greg Tomb. He served as the company's president for less than a year. He took over the reins in June 2022, and as per BBC, was actively overseeing the company's sales. As per a Zoom spokesperson, the company is not looking to replace Tomb. At the time of his hiring, Zoom's chief executive officer Eric Yuan, while announcing the appointment, said: "Greg is a highly respected technology industry leader and has deep experience in helping to scale companies at critical junctures." Watch | Zoom sheds about 1,300 jobs globally However, as per a regulatory filing, the former Google executive's contract has been abruptly terminated "without cause". Zoom, the video conferencing software giant, witnessed a boom during the COVID-19 pandemic days. At the height of the pandemic, the company emerged as one of the biggest technology winners. With everything from meetings to classes, to weddings and even funerals shifting online, by April 2020, the company reported a whopping 300 million daily participants. Also read | Zoom video struggles to thrive in post-pandemic world, announces 15 % staff layoff However, post-pandemic, Zoom, like fellow tech companies, was unable to maintain its pandemic boom and was forced to lay off staff. The company which during the two years of the pandemic tripled its headcount in February of this year fired 15 per cent or 1300 people from its staff. As per Yuan, they "didn't take as much time as we should have to thoroughly analyse our teams or assess if we were growing sustainably, toward the highest priorities." (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Video conferencing giant Zoom abruptly sacks company president Greg Tomb 'without cause'

The world’s biggest food group Nestlé will lift prices again this year. Chief executive Mark Schneider said on Thursday, after more costly ingredients contributed to making its 2022 profit miss market forecast.

Bad news for Nestle consumers, company plans price hikes

The business anticipated current-quarter revenue of between $830 million and $855 million, below analysts' projections of $918.4 million, causing WeWork shares to decline 5.5% in morning trading.

Shares of Wework fell 5.5% in morning trade, issues glum revenue forecast

Over a year after, the world's biggest sandwich chain co-founder, Peter Buck passed away at the age of 90, Subway is now exploring the possibility of selling its family business.&nbsp;The fast-food chain which has tens of thousands of outlets worldwide is staring at fierce competition from outlets like McDonald's. The valuation of the company is believed to be set for over $10bn (£8.2bn), as per Wall Street Journal, the media portal that first broke the news.&nbsp;

Also Read | <a href="https://www.wionews.com/trending/fda-approves-a-first-of-its-kind-vibrating-pill-to-relieve-chronic-constipation-562176">FDA approves a 'first-of-its-kind' vibrating pill to relieve chronic constipation</a>

The soaring costs are also posing a challenge for the business to sustain. To help Subway on the potential lead for selling its business, Investment banking giant JP Morgan is advising the business.&nbsp;However, no further information related to the potential sale was made by Subway, which said that no updates to be provided until the process is complete. The company announced its second year in a row of record sales and said same-store sales rose 9.2% last year, in comparison to 2021.

McDonald's which is giving close competition to Subway spruced up the price of its cheeseburger in the UK in July for the first time in over 14 years.

Also Read | <a href="https://www.wionews.com/photos/mexico-hundreds-including-same-sex-couples-wed-in-mass-ceremony-on-valentines-day-562152">Hundreds, including same-sex couples, wed in mass ceremony on Valentine's Day in Mexico</a>

Subway was first established in Bridgeport, Connecticut in 1965 as Pete's Super Submarines by 17-year-old Fred DeLuca and a family friend named Peter Buck. It underwent a number of renaming attempts before being given the Subway name in 1972.

Watch | <a href="https://www.wionews.com/videos/designer-babies-how-far-is-too-far-562161">'Designer' babies: How far is too far?</a>

They started franchising the business after opening 16 sandwich shops in their native state in less than two years. It currently operates approximately 37,000 stores in more than 100 nations. Franchisees, which number in the thousands of small company owners and entrepreneurs, own and run Subway locations. Companies all throughout the world have seen higher expenses recently for everything from food to fuel.

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Over a year after, the world's biggest sandwich chain co-founder, Peter Buck passed away at the age of 90, Subway is now exploring the possibility of selling its family business.

Over a year after, the world's biggest sandwich chain co-founder, Peter Buck passed away at the age of 90, Subway is now exploring the possibility of selling its family business. The fast-food chain which has tens of thousands of outlets worldwide is staring at fierce competition from outlets like McDonald's. The valuation of the company is believed to be set for over $10bn (£8.2bn), as per Wall Street Journal, the media portal that first broke the news. Also Read | FDA approves a 'first-of-its-kind' vibrating pill to relieve chronic constipation The soaring costs are also posing a challenge for the business to sustain. To help Subway on the potential lead for selling its business, Investment banking giant JP Morgan is advising the business. However, no further information related to the potential sale was made by Subway, which said that no updates to be provided until the process is complete. The company announced its second year in a row of record sales and said same-store sales rose 9.2% last year, in comparison to 2021. McDonald's which is giving close competition to Subway spruced up the price of its cheeseburger in the UK in July for the first time in over 14 years. Also Read | Hundreds, including same-sex couples, wed in mass ceremony on Valentine's Day in Mexico Subway was first established in Bridgeport, Connecticut in 1965 as Pete's Super Submarines by 17-year-old Fred DeLuca and a family friend named Peter Buck. It underwent a number of renaming attempts before being given the Subway name in 1972. Watch | 'Designer' babies: How far is too far? They started franchising the business after opening 16 sandwich shops in their native state in less than two years. It currently operates approximately 37,000 stores in more than 100 nations. Franchisees, which number in the thousands of small company owners and entrepreneurs, own and run Subway locations. Companies all throughout the world have seen higher expenses recently for everything from food to fuel. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Sandwich chain Subway to sell its family business after 60 years

Tata-group owned Air India on Tuesday announced that it will purchase 250 aircraft from Airbus. The deal which is worth more than $50 million is reportedly Air India's first aircraft purchase in around 17 years and is also the first order under the ownership of Tata Group. The deal, as per N Chandrasekaran, the company's chairman, is aimed at transforming the former national carrier, as well as expanding its operations. PTI reports that the acquisition of 250 aircraft will include 40 wide-body A350 planes and 210 narrow-body aircraft. The wide-body planes, as per Chandrasekaran, will be used for long-haul flights.&nbsp;

"Today I'm happy to say that we have signed a letter of intent to acquire 250 aircraft," said Chandrasekaran at a joint press conference he held with Airbus chief executive Guillaume Faury.

Watch |&nbsp;India: Air India seals order for 500 jets from Airbus, Boeing

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Also present at the virtual announcement of the deal were Indian PM Narendra Modi and his French counterpart Emmanuel Macron, who hailed it as a "landmark" and an "achievement".

Indian Prime Minister Narendra Modi has hailed the deal and said that the nation's growing aviation sector in the next 15 years would require over 2,000 aircraft. He remarked that in the near future, India will emerge as the third-biggest market in the world in the aviation sector.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/air-india-likely-to-finalise-half-of-jumbo-plane-order-claims-industry-sources-556595">Air India likely to finalise half of jumbo order, buy 220 planes, claim industry sources</a>

"Our civil aviation sector is an integral part of India's development. Strengthening the civil aviation sector is an important aspect of our national infrastructure policy," said Modi.

Hailing the Air India-Airbus deal as a "landmark," the PM said that it reflects deepening ties between France and India. He also said that the partnership between the two nations is playing a key role in ensuring stability and balance of the international order and the multilateral system.

"Whether it is the issue of security and stability in the Indo-Pacific region, or global food security and health security, India and France together are making a positive contribution".

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/tata-owned-air-india-to-place-historic-order-of-at-least-500-jets-heres-all-you-need-to-know-542211">Tata-owned Air India to place historic order of at least 500 jets: Here’s all you need to know</a>

&nbsp;



&nbsp;

French Prime Minister Emmanuel Macron said that the Air India-Airbus deal "shows that Airbus and all its French partners are fully dedicated to develop new areas of cooperation with India".

He further added, "The end of the pandemic should lead to more exchanges between our two countries. Students, scientists, artists, businessmen, women, tourists all are most welcome to France and I encourage Indians to come and be part of this French Indian friendship."

Air India's last aircraft purchase was made in 2005 for 111 planes; 68 of which were from Boeing and 43 from Airbus.

(With inputs from agencies)

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Tata-group owned Air India on Tuesday announced that it will purchase 250 aircraft from Airbus. The deal which is worth more than $50 million is reportedly Air India's first aircraft purchase in around 17 years and is also the first order under the ownership of Tata Group.

Tata-group owned Air India on Tuesday announced that it will purchase 250 aircraft from Airbus. The deal which is worth more than $50 million is reportedly Air India's first aircraft purchase in around 17 years and is also the first order under the ownership of Tata Group. The deal, as per N Chandrasekaran, the company's chairman, is aimed at transforming the former national carrier, as well as expanding its operations. PTI reports that the acquisition of 250 aircraft will include 40 wide-body A350 planes and 210 narrow-body aircraft. The wide-body planes, as per Chandrasekaran, will be used for long-haul flights. "Today I'm happy to say that we have signed a letter of intent to acquire 250 aircraft," said Chandrasekaran at a joint press conference he held with Airbus chief executive Guillaume Faury. Watch | India: Air India seals order for 500 jets from Airbus, Boeing Also present at the virtual announcement of the deal were Indian PM Narendra Modi and his French counterpart Emmanuel Macron, who hailed it as a "landmark" and an "achievement". Indian Prime Minister Narendra Modi has hailed the deal and said that the nation's growing aviation sector in the next 15 years would require over 2,000 aircraft. He remarked that in the near future, India will emerge as the third-biggest market in the world in the aviation sector. Also read | Air India likely to finalise half of jumbo order, buy 220 planes, claim industry sources "Our civil aviation sector is an integral part of India's development. Strengthening the civil aviation sector is an important aspect of our national infrastructure policy," said Modi. Hailing the Air India-Airbus deal as a "landmark," the PM said that it reflects deepening ties between France and India. He also said that the partnership between the two nations is playing a key role in ensuring stability and balance of the international order and the multilateral system. "Whether it is the issue of security and stability in the Indo-Pacific region, or global food security and health security, India and France together are making a positive contribution". Also read | Tata-owned Air India to place historic order of at least 500 jets: Here’s all you need to know French Prime Minister Emmanuel Macron said that the Air India-Airbus deal "shows that Airbus and all its French partners are fully dedicated to develop new areas of cooperation with India". He further added, "The end of the pandemic should lead to more exchanges between our two countries. Students, scientists, artists, businessmen, women, tourists all are most welcome to France and I encourage Indians to come and be part of this French Indian friendship." Air India's last aircraft purchase was made in 2005 for 111 planes; 68 of which were from Boeing and 43 from Airbus. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Air India signs 'historic' deal to purchase 250 aircraft from Airbus; its first purchase order in 17 years

Meta Platforms (META.O) announced on Monday that the company's Chief Business Officer Marne Levine was leaving this summer after a 13-year stint. Levine, 52, was hired in 2021 as the organization's first chief business officer. She had taken over from outgoing chief revenue officer David Fischer.&nbsp;

Previously, she had a number of other senior roles at the social media giant, including the role of chief operating officer of Instagram.

Also Read | <a href="https://www.wionews.com/world/blinken-wang-yi-to-meet-face-to-face-in-germany-this-week-the-first-after-chinese-spy-balloon-row-561655">Blinken, Wang Yi to meet face-to-face in Germany this week? The first after Chinese 'spy' balloon row</a>

In light of Levine's impending departure from Facebook's parent company Meta, the firm announced the appointments of two longtime Meta executives. The company has increased Nicola Mendelsohn's responsibilities as president of the global business group and confirmed the appointment of Justin Osofsky as head of online sales, operations, and partnerships.

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While Osofsky will be in charge of sales and operations geared at expanding small- and medium-sized enterprises on Meta's platforms. Mendelsohn will manage the company's partnerships with prominent marketers and agencies for all of its apps.

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This&nbsp;come at a time when Meta, which has dubbed 2023 the "Year of Efficiency," has pledged to reduce expenses by $5 billion in the coming year to a range of $89 billion to $95 billion.&nbsp;In November, the owner of WhatsApp announced the elimination of more than 11,000 positions, or 13% of its employees. This was followed by the lead of major giants like Amazon.com Inc (AMZN.O) and Microsoft Corp (MSFT.O), both of which have announced thousands of layoffs.

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Meta Platforms (META.O) announced on Monday that the company's Chief Business Officer Marne Levine was leaving this summer after a 13-year stint. Levine, 52, was hired in 2021 as the organization's first chief business officer.

Meta Platforms (META.O) announced on Monday that the company's Chief Business Officer Marne Levine was leaving this summer after a 13-year stint. Levine, 52, was hired in 2021 as the organization's first chief business officer. She had taken over from outgoing chief revenue officer David Fischer. Previously, she had a number of other senior roles at the social media giant, including the role of chief operating officer of Instagram. Also Read | Blinken, Wang Yi to meet face-to-face in Germany this week? The first after Chinese 'spy' balloon row In light of Levine's impending departure from Facebook's parent company Meta, the firm announced the appointments of two longtime Meta executives. The company has increased Nicola Mendelsohn's responsibilities as president of the global business group and confirmed the appointment of Justin Osofsky as head of online sales, operations, and partnerships. Also Read | White House says no 'alien' activity in unidentified downed objects over US While Osofsky will be in charge of sales and operations geared at expanding small- and medium-sized enterprises on Meta's platforms. Mendelsohn will manage the company's partnerships with prominent marketers and agencies for all of its apps. Watch | This heart-shaped island is up for sale ahead of Valentine's Day This come at a time when Meta, which has dubbed 2023 the "Year of Efficiency," has pledged to reduce expenses by $5 billion in the coming year to a range of $89 billion to $95 billion. In November, the owner of WhatsApp announced the elimination of more than 11,000 positions, or 13% of its employees. This was followed by the lead of major giants like Amazon.com Inc (AMZN.O) and Microsoft Corp (MSFT.O), both of which have announced thousands of layoffs. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Meta's Chief Business Officer Marne Levine to step down

In Renault SA and Nissan Motor Co. unveiled their first joint project since announcing a revamp of their car making alliance. The pair will invest $600 million in India to expand their car lineup, add jobs and decarbonize a manufacturing plant in Chennai, the companies said in a joint statement.

Renault Nissan alliance to invest $600 million in India

Kylie Jenner built her makeup empire Kylie Cosmetics with just one product - a lip kit. Later, she expanded her business and created a whole makeup line and became a billionaire. And, it won't be wrong to say that social media played a huge role in building her multi-million-dollar company. Just like Kylie Jenner's brand, several other brands started and grew on social media and in this episode of Beyond the Runway, we tell you how these brands left their footprints in the virtual world and became extremely popular among netizens.

Beyond the Runway S2 | How social media helps brands grow their business

The global modular kitchen market size grew from $22.17 billion in 2022 to $23.04 billion in 2023 at a compound annual growth rate (CAGR) of 3.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. CEO, Frankie home solutions Barbara Borra talks more on the global trends in residential kitchen market.

CEO, Frankie home solutions Barbara Borra talks on global trends in residential kitchen market

Adani Transmission registered a 22 percent growth in revenue for the quarter at Rs 3,552 crore compared to year-ago period, led by new transmission lines becoming operational and a positive trend in energy demand.

India: Positive start for Adani shares

Major tech investor SoftBank Group is looking at another quarter of bleak results, but for the first time on record, Masayoshi Son is going to miss the earnings call, according to reports. It added that it will be the sole responsibility of the Japanese company’s CFO Yoshimitsu Goto to field investors’ concerns when the company declares its third-quarter results.

World Business Watch: Softbank CEO Masayoshi's son to miss earnings call for first time

Newmont Corp. made a provisional offer to acquire Australia’s top gold miner Newcrest Mining Ltd. in what would be the biggest global takeover of the year so far.

World Business Watch: Newmont bids $16.9 billion for Australian gold miner Newcrest

Renault's board (RENA.PA) voted in favour to reshape the French carmaker's alliance with its Japanese partner Nissan (7201.T). Watch video to know more.

Renault board backs plans to reshape alliance with Nissan

In line with the previous three months, Shell announced a new $4 billion share buyback programme to be carried out over the following three months. Prior to the pandemic in 2019, it repurchased $19 billion worth of shares in the year ending in February 2023, almost twice as much.

Shell: $4 BN worth shares to be repurchased, highest profit in 115 years

Match Group Inc said on Wednesday it would lay off about 8 per cent&nbsp;of its workforce, a day after it forecast first-quarter revenue below Wall Street expectations.

The company has already cut jobs in the United States and the process is ongoing in other countries, Chief Financial Officer Gary Swidler said on the earnings call.

Watch |&nbsp;World Business Watch: Samsung reports lowest quarterly profit since 2014

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Shares of the Texas-based firm were down 7.8 per cent, having lost 11 per cent&nbsp;after the bell on Tuesday following its downbeat forecast.

The dating company joins Big Tech firms and Wall Street titans in reducing staff as they strive to cut costs amid concerns of a recession.

Match said on Tuesday that it incurred about $3 million in severance and similar costs during the fourth quarter and expects an additional $6 million in 2023, adding that its cost cuts will help improve margins in the second half of the year.

Also read |&nbsp;<a href="https://www.wionews.com/technology/intel-cuts-management-pay-and-fires-340-employees-to-preserve-cash-557737">Intel cuts management pay and fires 340 employees to preserve cash</a>

"In addition to the cuts, we expect Match to place greater emphasis on marketing its Tinder and Hinge brands, core areas of growth for 2023," said Angelo Zino, an analyst at CFRA Research.

The workforce reductions at Match are in-line with staff cuts across the broader tech sector, Zino added.

Match, which has primarily relied on word-of-mouth advertising, said Tinder will be launching its first global marketing campaign in the current quarter to improve brand perception. &nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/india-news/after-hinderberg-research-mukesh-ambani-replaces-gautam-adani-to-become-richest-indian-in-the-world-557844">After Hindenburg report, Mukesh Ambani replaces Gautam Adani to become richest Indian</a>

Match forecast first-quarter revenue between $790 million and $800 million on Tuesday, lower than analysts' estimates of $817.3 million, according to Refinitiv data.

The company also reported its first-ever quarterly revenue decline, with its top line falling short of analysts' expectations.

(With inputs from agencies)

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Match Group Inc said on Wednesday it would lay off about 8 per cent of its workforce, a day after it forecast first-quarter revenue below Wall Street expectations.

Match Group Inc said on Wednesday it would lay off about 8 per cent of its workforce, a day after it forecast first-quarter revenue below Wall Street expectations. The company has already cut jobs in the United States and the process is ongoing in other countries, Chief Financial Officer Gary Swidler said on the earnings call. Watch | World Business Watch: Samsung reports lowest quarterly profit since 2014 Shares of the Texas-based firm were down 7.8 per cent, having lost 11 per cent after the bell on Tuesday following its downbeat forecast. The dating company joins Big Tech firms and Wall Street titans in reducing staff as they strive to cut costs amid concerns of a recession. Match said on Tuesday that it incurred about $3 million in severance and similar costs during the fourth quarter and expects an additional $6 million in 2023, adding that its cost cuts will help improve margins in the second half of the year. Also read | Intel cuts management pay and fires 340 employees to preserve cash "In addition to the cuts, we expect Match to place greater emphasis on marketing its Tinder and Hinge brands, core areas of growth for 2023," said Angelo Zino, an analyst at CFRA Research. The workforce reductions at Match are in-line with staff cuts across the broader tech sector, Zino added. Match, which has primarily relied on word-of-mouth advertising, said Tinder will be launching its first global marketing campaign in the current quarter to improve brand perception. Also read | After Hindenburg report, Mukesh Ambani replaces Gautam Adani to become richest Indian Match forecast first-quarter revenue between $790 million and $800 million on Tuesday, lower than analysts' estimates of $817.3 million, according to Refinitiv data. The company also reported its first-ever quarterly revenue decline, with its top line falling short of analysts' expectations. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Tinder owner Match to cut staff by about 8% after downbeat forecast

Bitcoin is poised for its best month in a decade with a 40% rise in January. Does that mean that the so-called crypto winter is waning? For now, the threat looming over the crypto industry has retreated broadly.

World Business Watch: Bitcoin poised for its best month since 2013

Germany, the largest economy in Europe continues to struggle with labor shortages. The country deals with a huge gap in the job market for software engineers which now looks to fill up by hiring top talent from the thousands of laid off in Silicon Valley.

World Business Watch: Germany to tap into Silicon Valley job market

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