Netflix's bad year just got much worse after crashing on Tuesday, Netflix shares tumbled 30 % yesterday as well leading to 55 billion dollar wipeout in Netflix market value which is the worst since 2004.

Netflix's bad year just got much worse, $55 billion wipeout in its market value

Carmaker Stellantis on Tuesday said it was suspending production at its Russian plant due to logistical difficulties and sanctions imposed on Moscow.

Stellantis suspends vehicle production in Russia

As some nations look at conflict as opportunities, they try to leverage situation but there are others like India that lead from the front and providing aid in ever possible manner. India has now stepped in the market and will export almost about 7 million tons of its 107 million tons of wheat produced in the country every year.

India to export 1 million tons of wheat to Egypt

India's wholesale inflation has surged to a 4-month high due to global inflation, and energy prices amid the Ukraine-Russia conflict.

India's wholesale inflation surges to a 4-month high

Equity benchmark indices, which resumed trading after a long holiday, faced heavy drubbing on Monday, with the Sensex plunging over 1,186 points in early trade.

The key index was dragged down by heavyweights Infosys and HDFC Bank amid weak trend in Asian markets.

Stock markets were closed on Thursday for Mahavir Jayanti and Dr Babasaheb Ambedkar Jayanti, as well as on Friday on account of Good Friday.

Also read |&nbsp;<a href="https://www.wionews.com/world/amidst-row-surrounding-uk-fm-rishi-sunak-wife-akshata-indias-infosys-exits-russia-470800">Amidst row surrounding UK FM Rishi Sunak &amp; wife Akshata, India’s Infosys exits Russia</a>

The Sensex was trading 1,186.18 points lower at 57,152.75 in early trade. The Nifty tumbled 314.95 points to 17,160.70.

From the 30-share pack, Infosys, Tech Mahindra, TCS, HDFC, HDFC Bank, Wipro and HCL Technologies were among the major laggards in early trade.

In contrast, NTPC, Tata Steel, M&amp;M, Maruti and Power Grid were among the gainers.

Shares of Infosys tanked 8.95 per cent to Rs 1,592.05 on the BSE despite the country's second-largest software services firm last week reporting a 12 per cent year-on-year increase in consolidated net profit for the March quarter at Rs 5,686 crore.

Watch |&nbsp;India inflation soars to 17-month high

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/india-inflation-soars-to-17-month-high-470674/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

HDFC Bank declined 3.35 per cent to Rs 1,415.75 even as the largest domestic private sector lender Bank on Saturday posted a 22.8 per cent jump in its standalone net profit at Rs 10,055.2 crore for the quarter ended March 2022.

In Asia, markets were trading lower, with Seoul, Shanghai and Tokyo quoting in the red in mid-session deals.

Stocks in the US had ended lower on Thursday.

International oil benchmark Brent crude gained 1.01 per cent to USD 112.83 per barrel.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/indias-inflation-surges-in-march-lemon-prices-skyrocket-470675">India's inflation surges in March; lemon prices skyrocket</a>

On Wednesday, the Sensex declined 237.44 points or 0.41 per cent to settle at 58,338.93. The NSE Nifty dipped 54.65 points or 0.31 per cent to finish at 17,475.65.

Foreign institutional investors continued to offload shares worth Rs 2,061.04 crore on Wednesday, according to exchange data.

Equity benchmark indices, which resumed trading after a long holiday, faced heavy drubbing on Monday, with the Sensex plunging over 1,186 points in early trade. The key index was dragged down by heavyweights Infosys and HDFC Bank amid weak trend in Asian markets.

Equity benchmark indices, which resumed trading after a long holiday, faced heavy drubbing on Monday, with the Sensex plunging over 1,186 points in early trade. The key index was dragged down by heavyweights Infosys and HDFC Bank amid weak trend in Asian markets. Stock markets were closed on Thursday for Mahavir Jayanti and Dr Babasaheb Ambedkar Jayanti, as well as on Friday on account of Good Friday. Also read | Amidst row surrounding UK FM Rishi Sunak & wife Akshata, India’s Infosys exits Russia The Sensex was trading 1,186.18 points lower at 57,152.75 in early trade. The Nifty tumbled 314.95 points to 17,160.70. From the 30-share pack, Infosys, Tech Mahindra, TCS, HDFC, HDFC Bank, Wipro and HCL Technologies were among the major laggards in early trade. In contrast, NTPC, Tata Steel, M&M, Maruti and Power Grid were among the gainers. Shares of Infosys tanked 8.95 per cent to Rs 1,592.05 on the BSE despite the country's second-largest software services firm last week reporting a 12 per cent year-on-year increase in consolidated net profit for the March quarter at Rs 5,686 crore. Watch | India inflation soars to 17-month high HDFC Bank declined 3.35 per cent to Rs 1,415.75 even as the largest domestic private sector lender Bank on Saturday posted a 22.8 per cent jump in its standalone net profit at Rs 10,055.2 crore for the quarter ended March 2022. In Asia, markets were trading lower, with Seoul, Shanghai and Tokyo quoting in the red in mid-session deals. Stocks in the US had ended lower on Thursday. International oil benchmark Brent crude gained 1.01 per cent to USD 112.83 per barrel. Also read | India's inflation surges in March; lemon prices skyrocket On Wednesday, the Sensex declined 237.44 points or 0.41 per cent to settle at 58,338.93. The NSE Nifty dipped 54.65 points or 0.31 per cent to finish at 17,475.65. Foreign institutional investors continued to offload shares worth Rs 2,061.04 crore on Wednesday, according to exchange data.

Sensex plunges 1,186 points in early trade; Nifty tests 17,160 level

Taking a look at China's GDP data and here suggesting a worsening economy as sweeping covid-19 curbs and Russia-Ukraine war take toll on economic activity. China's growth has slowed in March a bit however GDP estimates were better than expectations.

China's GDP expands 4.8% in Q1, beats all forecast

Gold prices rose on Monday to their highest since mid-March, as the Russia-Ukraine crisis soured risk sentiment and drove investors to the safety of bullion.

Gold hits over 1-month high as Ukraine crisis weakens risk appetite

Countries around the world are working to diversify their supply chains and reduce dependence on China. 'It is probably good for everyone,' says World Bank president David Malpass.

Diversifying supply chains from China 'probably good': World Bank

Argentina's monthly inflation rate has soared to 6.7% in March as spiraling food and fuel prices have dented the value of salaries and savings. The annual inflation rate has hit 55.1% in a month.

Argentina inflation surges to decades-high in March

The bank of Japan has said countries wholesale prices have been up by 9.5 percent. Watch our report for more on the ongoing business trends!

Japan wholesale prices rise 9.5% YOY

After Pakistan and Sri Lanka, the Himalayan Kingdom of Nepal is also facing financial problems. The country is facing a forex exchange crisis, it has already suspended Central Bank Governor as the bank had earlier announced a ban on import of vehicles and other luxury items.

Nepal bans import of luxury items, suspends Central Bank governor

Japan being the world's third-largest economy has shown improvement from the second-biggest deficit. However, it is still vulnerable to soaring fuel prices.

Japan's current account balance: Improvement from second-biggest deficit

After regularly throwing jibes on twitter in the past, Elon musk has now become the company's top shareholder, he has a 9.2 percent stake in a social media giant.

'Do you want an edit button?' asks Elon Musk after he joins Twitter's board

Year 2021-22 was a mixed bag for Indian auto industry. Though they were on the path to recovery, they had to face challenges like chip shortage, a new wave of COVID-19 as well. How was the year 2021 for the auto industry and how is the year ahead to talk all that and much more today we're joined by Shashank Srivastava, senior ED, Maruti Suzuki.

How was the year 2021 for auto industry?: Shashank Srivastava, senior ED, Maruti Suzuki

Samsung Electronics is likely to post its highest first-quarter profit since 2018, analysts' estimates showed, driven by brisk profits on memory chips as solid demand helped to keep prices firmer than expected.

Samsung likely to report highest Q1 profit since 2018 on memory chips

Canada's federal budget will include an investment of at least C$2 billion ($1.6 billion) for a strategy to accelerate the production and processing of critical minerals needed for the electric vehicle (EV) battery supply chain.

Canada's $1.6 billion strategy to harness critical minerals for EV battery supply chain

Zacua the electric car brand in Mexico is breaking stereotypes, the automobile firm is going for 100% women employment in the vehicle factory.

Zacua, the electric car brand hires women from directors to sales division

The union that Amazon.com Inc workers recently voted to represent them has demanded the company start bargaining in early May and cease any changes to employment terms at their warehouse in the interim, according to a letter the group issued Saturday on Twitter.

Amazon's new union demands company start bargaining in early May

Electric car maker Tesla has notified workers and suppliers that manufacturing at its Shanghai factory in china will not resume today as it had hoped earlier.

Tesla unable to restart Shanghai production

Indian exports grew on the quickest space since 1980-1990 to touch 418 billion dollar mark, India's overall goods trades crossed one trillion dollar for the first time in history whereas imports scaled 610 billion dollar mark.

India goods trade crosses $1 trillion

Sony is coming up with a new subscription plan with over 300 games across PlayStation generations but it does not quite measure up to Microsoft's game pass completely why and how, take a look.

Sony launches new PlayStation subscription service

Major US and foreign automakers have backed environmental protection agencies new tougher vehicle emission regulations in a court challenge brought by some states.

Automakers back US government's vehicle emissions rules

The US National Highway Traffic Safety Administration (NHTSA) on Sunday reinstated a sharp increase in penalties for automakers whose vehicles do not meet fuel efficiency requirements for model years 2019 and beyond.

High fuel fines for US automakers not meeting fuel economy rules

The play by Xiang Guangda,&nbsp;China's "Nickel&nbsp;King", was to use his influential market position to short the metal, wait for the price to drop, then soak up the rewards when the value bounced back.

But then Russian President Vladimir Putin invaded&nbsp;Ukraine&nbsp;and things got complicated -- fast.

Russia is one of the world's biggest producers of&nbsp;nickel&nbsp;ore, a key component of batteries for electric vehicles.&nbsp;

As concussive Western sanctions over the invasion struck, the price of the silver-white metal rocketed to a record above $100,000 per tonne.

Also read |&nbsp;<a href="https://www.wionews.com/world/russian-army-fired-again-at-a-nuclear-research-facility-in-kharkiv-says-ukraine-465843">Russian army fired again at a nuclear research facility in Kharkiv, says Ukraine</a>

That was too high for Xiang and the entire metals sector, forcing the 145-year-old London Metals Exchange (LME) to suspend trading for a week and leaving&nbsp;nickel-reliant manufacturers struggling to digest the spike in costs.

Stuck in its positions -- reports estimate it was holding at least 100,000 tonnes -- Xiang's company Tsingshan Holdings Group&nbsp;was suddenly&nbsp;on&nbsp;the&nbsp;hook&nbsp;for&nbsp;billions&nbsp;of dollars.

Tsingshan, the world's biggest&nbsp;nickel&nbsp;producer, has been forced to buy back a large number of&nbsp;nickel&nbsp;contracts at higher prices to reduce its exposure.

A Bloomberg News report estimates the buy-back has contributed to a loss of $8 billion, suggesting the firm may need a possible bailout by Chinese authorities.

"Xiang is a shrewd player, but he was caught off guard with the Russian issue," Li Bin, a&nbsp;nickel&nbsp;trader in Shanghai said.

When&nbsp;nickel&nbsp;trading resumed last week prices plunged to about $37,200 a tonne -- still 50 percent higher than in February -- as volatility courses through the market.&nbsp;

"After the historic squeeze,&nbsp;nickel&nbsp;is still struggling to find a price," Susan Zou, senior metals analyst at Rystad Energy said.

Also read |&nbsp;<a href="https://www.wionews.com/world/kremlin-says-its-not-for-biden-to-say-if-putin-stays-in-power-465827">Kremlin says it's not for Biden to say if Putin stays in power</a>

&nbsp;Self-made tycoon&nbsp;

The market for&nbsp;nickel, essential to make batteries for EVs and a key alloy in stainless steel, is dominated by a handful of players.

Those include Tsingshan, headquartered&nbsp;on&nbsp;China's eastern seaboard.

It was founded by Xiang, a self-made billionaire who is known among Chinese&nbsp;nickel&nbsp;traders as the "Nickel&nbsp;King" and "Big Shot".&nbsp;

Xiang started his career as a mechanic in a state fishery and now owns two sprawling&nbsp;nickel&nbsp;manufacturing hubs in Indonesia.&nbsp;

Those include the Morowali industrial park that spans 2,000 hectares with 44,000 workers and its own airport and is seen as a guarantee a cheap supply of ore for Tsingshan's&nbsp;China-side furnaces.

After his short went wrong, Tsingshan has to either pay off its debts or prove it has sufficient deliverable&nbsp;nickel&nbsp;to repay in kind.

"We are closely watching his next move because it could still roil markets," said Li, the Shanghai&nbsp;nickel&nbsp;trader.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/ukrainian-president-volodymyr-zelensky-demands-military-hardware-from-west-asks-if-afraid-of-russia-465830">Ukrainian President Volodymyr Zelensky demands military hardware from West, asks if afraid of Russia</a>

Those rising costs are already being felt by makers of EVs including Tesla and 20 other Chinese rivals such as Xpeng and BYD, which have all hiked vehicle prices over the past two weeks citing a rise in raw material costs.&nbsp;

"The price and supply shocks have pushed major battery makers to look for alternative metals to power electric vehicles," analyst Zou said.

Beijing to the rescue?&nbsp;

Beijing could step in to rescue Tsingshan, Chinese media including financial news site Yicai reported, citing sources familiar with the matter.

There are discussions over allowing the company to swap its low-grade&nbsp;nickel&nbsp;products that do not meet LME's quality standards with a purer form of the metal held in state stockpiles to settle its claims, Yicai said.

China&nbsp;is estimated to hold around 100,000 tonnes of&nbsp;nickel&nbsp;in state reserves, according to official data. Tsingshan and&nbsp;China's state reserves administration did not respond to requests for comment.&nbsp;

Xiang has moved markets before, most notably in 2018 when he released large volumes of&nbsp;nickel&nbsp;pig iron, a cheap alternative to pure&nbsp;nickel, that can be used to make stainless steel.&nbsp;&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/china-delays-retirement-amid-rise-in-pension-costs-report-465866">China delays retirement amid rise in pension costs: Report</a>

"Xiang has always believed that because he is one of the world's biggest players with ultra-low costs, he could keep the&nbsp;nickel&nbsp;price under his thumb," said a former employee at Tsingshan, who declined to be named.

"He has always bet&nbsp;on&nbsp;nickel&nbsp;prices falling because his production cost in Indonesia is as low as $10,000 per tonne."&nbsp;

Now Xiang has to decide whether to slowly unwind his wager and at what price.&nbsp;

On&nbsp;March 14, Tsingshan said it had reached an agreement with banks to hold&nbsp;on&nbsp;to the company's&nbsp;nickel&nbsp;positions, signalling the billionaire was digging in his heels to ride out the crisis.

That could beat the LME further and lead to more price uncertainty for&nbsp;nickel, trader Li said, and create challenges for battery producers trying to replace petrol cars.

Watch |&nbsp;Russia-Ukraine Conflict: Smoke engulfs Lviv after powerful explosions rock the city

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/russia-ukraine-conflict-smoke-engulfs-lviv-after-powerful-explosions-rock-the-city-465828/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The play by Xiang Guangda, China's "Nickel King", was to use his influential market position to short the metal, wait for the price to drop, then soak up the rewards when the value bounced back.

The play by Xiang Guangda, China's "Nickel King", was to use his influential market position to short the metal, wait for the price to drop, then soak up the rewards when the value bounced back. But then Russian President Vladimir Putin invaded Ukraine and things got complicated -- fast. Russia is one of the world's biggest producers of nickel ore, a key component of batteries for electric vehicles. As concussive Western sanctions over the invasion struck, the price of the silver-white metal rocketed to a record above $100,000 per tonne. Also read | Russian army fired again at a nuclear research facility in Kharkiv, says Ukraine That was too high for Xiang and the entire metals sector, forcing the 145-year-old London Metals Exchange (LME) to suspend trading for a week and leaving nickel-reliant manufacturers struggling to digest the spike in costs. Stuck in its positions -- reports estimate it was holding at least 100,000 tonnes -- Xiang's company Tsingshan Holdings Group was suddenly on the hook for billions of dollars. Tsingshan, the world's biggest nickel producer, has been forced to buy back a large number of nickel contracts at higher prices to reduce its exposure. A Bloomberg News report estimates the buy-back has contributed to a loss of $8 billion, suggesting the firm may need a possible bailout by Chinese authorities. "Xiang is a shrewd player, but he was caught off guard with the Russian issue," Li Bin, a nickel trader in Shanghai said. When nickel trading resumed last week prices plunged to about $37,200 a tonne -- still 50 percent higher than in February -- as volatility courses through the market. "After the historic squeeze, nickel is still struggling to find a price," Susan Zou, senior metals analyst at Rystad Energy said. Also read | Kremlin says it's not for Biden to say if Putin stays in power Self-made tycoon The market for nickel, essential to make batteries for EVs and a key alloy in stainless steel, is dominated by a handful of players. Those include Tsingshan, headquartered on China's eastern seaboard. It was founded by Xiang, a self-made billionaire who is known among Chinese nickel traders as the "Nickel King" and "Big Shot". Xiang started his career as a mechanic in a state fishery and now owns two sprawling nickel manufacturing hubs in Indonesia. Those include the Morowali industrial park that spans 2,000 hectares with 44,000 workers and its own airport and is seen as a guarantee a cheap supply of ore for Tsingshan's China-side furnaces. After his short went wrong, Tsingshan has to either pay off its debts or prove it has sufficient deliverable nickel to repay in kind. "We are closely watching his next move because it could still roil markets," said Li, the Shanghai nickel trader. Also read | Ukrainian President Volodymyr Zelensky demands military hardware from West, asks if afraid of Russia Those rising costs are already being felt by makers of EVs including Tesla and 20 other Chinese rivals such as Xpeng and BYD, which have all hiked vehicle prices over the past two weeks citing a rise in raw material costs. "The price and supply shocks have pushed major battery makers to look for alternative metals to power electric vehicles," analyst Zou said. Beijing to the rescue? Beijing could step in to rescue Tsingshan, Chinese media including financial news site Yicai reported, citing sources familiar with the matter. There are discussions over allowing the company to swap its low-grade nickel products that do not meet LME's quality standards with a purer form of the metal held in state stockpiles to settle its claims, Yicai said. China is estimated to hold around 100,000 tonnes of nickel in state reserves, according to official data. Tsingshan and China's state reserves administration did not respond to requests for comment. Xiang has moved markets before, most notably in 2018 when he released large volumes of nickel pig iron, a cheap alternative to pure nickel, that can be used to make stainless steel. Also read | China delays retirement amid rise in pension costs: Report "Xiang has always believed that because he is one of the world's biggest players with ultra-low costs, he could keep the nickel price under his thumb," said a former employee at Tsingshan, who declined to be named. "He has always bet on nickel prices falling because his production cost in Indonesia is as low as $10,000 per tonne." Now Xiang has to decide whether to slowly unwind his wager and at what price. On March 14, Tsingshan said it had reached an agreement with banks to hold on to the company's nickel positions, signalling the billionaire was digging in his heels to ride out the crisis. That could beat the LME further and lead to more price uncertainty for nickel, trader Li said, and create challenges for battery producers trying to replace petrol cars. Watch | Russia-Ukraine Conflict: Smoke engulfs Lviv after powerful explosions rock the city

How Ukraine war left China's 'Nickel King' on hook for billions

Amid Russia-Ukraine conflict, Russia has made it clear that Russia will accept gas payment in Roubles. Putin said, "We won't accept compromised currencies".

Ukraine-Russia conflict: Putin says Russia to only take gas payments in Roubles

Volvo Cars said that a shortage of semi-conductors would likely to continue. The global shortage has forced them to cut their forecast for vehicle deliveries this year.

Global chip shortage: Volvo cars cuts 2022 sales forecast

Rise in electronic waste has been reported due to daily use of technology. To extract gold from waste, the Royal Mint will soon start salvaging the precious metal from laptops and mobile phones.

Tackling electronic waste: Royal mint aims to extract gold from E-Waste

Scientists have come up with a technology that can understand animals. Yes, you heard it right, Alexa for animals- Robots can understand whale songs, and much more.

Alexa for Animals: Tech is helping humans understand the animal kingdom

In a recent conversation about Indian auto market with Zac Hollis, brand director of Skoda Auto India said, "Sedan market will be twice as big in a year."

Indian Auto Market: Are sedans making a comeback?

This is the first time in the history of Kashmir that foreign investors are visiting the valley with aim of investments. According to the Government, around 70 thousand crore investment is expected to come in the next 6 months from foreign investors.

Kashmir hosts gulf investors, delegates explore Kashmir valley for business opportunities

The Bombay Stock Exchange has sought clarification from the parent company of Paytm over the steep drop in its share prices. Shares have lost major portion of value after Paytm Payments Bank came under RBI's scanner.

BSE seeks clarification from Paytm parent, shares near all-time low levels

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