Tech giant Yahoo has pulled out of China, citing an “increasingly challenging business and legal environment.” The withdrawal was largely symbolic, as many of the company's services were already blocked by China's digital censorship.

Yahoo pulls out of China, citing ‘challenging’ business environment

A report by an Indo-Australian industry body said on Friday that the two nations and their respective industries can deeply collaborate in the fields of Agri tech, E-commerce and retail tech, Fin tech, Health Tech, Ed Tech, Cybersecurity, R&amp;D and others. Top officials from both countries reiterated the commonalities between the democracies and Commonwealth nations and touched upon how technology can create new opportunities.&nbsp;

Prepared by the Indo-Australian Chamber of Commerce (IACC), the report is titled 'Recommendations to build stronger ties between India &amp; Australia in technology and innovation'&nbsp;

Speaking at the event, Australian Consul-General for South India, Ms Sarah Kirlew touched upon Australia's Pioneering advances in Cybersecurity, AI, Quantum computing and 5G and related policy frameworks. She added that Indian and Australian governments could put in place pathways for closer collaboration.

The diplomat also referred to the comprehensive Indo-Australia free trade agreement that is expected by next year, which could maximize economic prosperity for both nations. She added that Australia would be having a strong country presence at the upcoming Bengaluru tech summit, which would be taking place at the same time as the Sydney dialogue.

Dr Neeraj Mittal, Principal Secretary to Government, IT Dept, Government of Tamil Nadu, said that India was a strong player in the software domain, but also referred to the need to collaborate with pioneers in the field of education tech.

On the prospects of Tamil Nadu, he said that the southern Indian state is the first to have an Artificial Intelligence policy, has strong relationships with manufacturing firms and that The state was looking towards growing to a $1Tn economy. He added that the state would soon operationalize the BharatNet connectivity program that would ensure high speed internet connectivity to Gram Panchayats and smalll villages, within 1.5 years. The senior official said that this initiative would be able to significantly boost education and telemedicine.&nbsp;

IACC CEO Petula Thomas said, “This report considered views of 82 industry leaders, senior government representatives and tech experts. It will serve as a roadmap for implementing the recommendations set out for stakeholders primarily in six key sectors. The Indo-Australian Chamber of Commerce’s ‘Science &amp; Innovation’ industry-sector leadership forum will engage stakeholders to develop a short term (6-12 months) and long term (2-3 years) strategy to deliver on the 41 recommendations made, and create lasting high impact”.

A report by an Indo-Australian industry body said on Friday that the two nations and their respective industries can deeply collaborate in the fields of Agri tech, E-commerce and retail tech, Fin tech, Health Tech, Ed Tech, Cybersecurity, R&D and others.

A report by an Indo-Australian industry body said on Friday that the two nations and their respective industries can deeply collaborate in the fields of Agri tech, E-commerce and retail tech, Fin tech, Health Tech, Ed Tech, Cybersecurity, R&D and others. Top officials from both countries reiterated the commonalities between the democracies and Commonwealth nations and touched upon how technology can create new opportunities. Prepared by the Indo-Australian Chamber of Commerce (IACC), the report is titled 'Recommendations to build stronger ties between India & Australia in technology and innovation' Speaking at the event, Australian Consul-General for South India, Ms Sarah Kirlew touched upon Australia's Pioneering advances in Cybersecurity, AI, Quantum computing and 5G and related policy frameworks. She added that Indian and Australian governments could put in place pathways for closer collaboration. The diplomat also referred to the comprehensive Indo-Australia free trade agreement that is expected by next year, which could maximize economic prosperity for both nations. She added that Australia would be having a strong country presence at the upcoming Bengaluru tech summit, which would be taking place at the same time as the Sydney dialogue. Dr Neeraj Mittal, Principal Secretary to Government, IT Dept, Government of Tamil Nadu, said that India was a strong player in the software domain, but also referred to the need to collaborate with pioneers in the field of education tech. On the prospects of Tamil Nadu, he said that the southern Indian state is the first to have an Artificial Intelligence policy, has strong relationships with manufacturing firms and that The state was looking towards growing to a $1Tn economy. He added that the state would soon operationalize the BharatNet connectivity program that would ensure high speed internet connectivity to Gram Panchayats and smalll villages, within 1.5 years. The senior official said that this initiative would be able to significantly boost education and telemedicine. IACC CEO Petula Thomas said, “This report considered views of 82 industry leaders, senior government representatives and tech experts. It will serve as a roadmap for implementing the recommendations set out for stakeholders primarily in six key sectors. The Indo-Australian Chamber of Commerce’s ‘Science & Innovation’ industry-sector leadership forum will engage stakeholders to develop a short term (6-12 months) and long term (2-3 years) strategy to deliver on the 41 recommendations made, and create lasting high impact”.

Report recommends six sectors for greater Indo-Australian cooperation 

Embattled Chinese real estate firm Evergrande has narrowly averted catastrophic default by making an interest payment for an offshore bond, Reuters reported quoting sources. Evergrande is reeling under debt of more than $300 billion. The firm was once China's top-selling developer.

A default by Evergrande has the potential to disrupt Chinese economy, with a possible spillover into global economy. Failure to pay interest by the Friday deadline would have triggered cross-defaults on all of Evergrande's $19 billion worth of bonds.

The Reuters report said it could not determine the source of the funds used to make the interest payments. Bloomberg News had reported earlier this week that Chinese authorities had urged Evergrande's founder, Hui Ka Yan, to pay the developer's debts out of his personal wealth.

Shares of Evergrande gave up early gains to fall about 0.8% by late morning on Friday, versus a 0.3% decline in the Hang Seng Index. The Hang Seng Mainland Properties Index fell about 0.9%, while an index of developers' mainland A-shares dropped 3.6%.

Prices of the developer's bonds jumped higher on Friday, with its 11.5% January 2023 bond surging more than 9%, and its 12% January 2024 bond up nearly 8% on the day, data from Duration Finance showed.

That still left them trading at discounts of more than 75% from their face value, with the 2023 bond yielding nearly 190%.

One bondholder said he maintained a negative outlook for the developer despite it making the coupon payment.

"I only think they are buying time at this point," the bondholder said.

Evergrande missed coupon payments totalling nearly $280 million on its dollar bonds on Sept. 23, Sept. 29 and Oct. 11, beginning 30-day grace periods for each.

It still has nearly $338 million in other offshore coupon payments coming due in November and December.

The New York Times earlier <a href="https://www.nytimes.com/live/2021/10/28/business/news-business-stock-market ">reported </a>that the developer made an interest payment, citing a person speaking on condition of anonymity.

"Evergrande has tried its best to solve liquidity problems, but it's a little bit difficult to gather enough capital to pay all the debt," said Cliff Zhao, chief strategist at China Construction Bank International in Hong Kong.

"I think there (will) be some negotiations between Evergrande and its lenders, so some sort of haircut is still possible. The market still needs some time to digest and to price this in."

(With inputs from agencies)

Embattled Chinese real estate firm Evergrande has narrowly averted catastrophic default by making an interest payment for an offshore bond, Reuters reported quoting sources.

Embattled Chinese real estate firm Evergrande has narrowly averted catastrophic default by making an interest payment for an offshore bond, Reuters reported quoting sources. Evergrande is reeling under debt of more than $300 billion. The firm was once China's top-selling developer. A default by Evergrande has the potential to disrupt Chinese economy, with a possible spillover into global economy. Failure to pay interest by the Friday deadline would have triggered cross-defaults on all of Evergrande's $19 billion worth of bonds. The Reuters report said it could not determine the source of the funds used to make the interest payments. Bloomberg News had reported earlier this week that Chinese authorities had urged Evergrande's founder, Hui Ka Yan, to pay the developer's debts out of his personal wealth. Shares of Evergrande gave up early gains to fall about 0.8% by late morning on Friday, versus a 0.3% decline in the Hang Seng Index. The Hang Seng Mainland Properties Index fell about 0.9%, while an index of developers' mainland A-shares dropped 3.6%. Prices of the developer's bonds jumped higher on Friday, with its 11.5% January 2023 bond surging more than 9%, and its 12% January 2024 bond up nearly 8% on the day, data from Duration Finance showed. That still left them trading at discounts of more than 75% from their face value, with the 2023 bond yielding nearly 190%. One bondholder said he maintained a negative outlook for the developer despite it making the coupon payment. "I only think they are buying time at this point," the bondholder said. Evergrande missed coupon payments totalling nearly $280 million on its dollar bonds on Sept. 23, Sept. 29 and Oct. 11, beginning 30-day grace periods for each. It still has nearly $338 million in other offshore coupon payments coming due in November and December. The New York Times earlier reported that the developer made an interest payment, citing a person speaking on condition of anonymity. "Evergrande has tried its best to solve liquidity problems, but it's a little bit difficult to gather enough capital to pay all the debt," said Cliff Zhao, chief strategist at China Construction Bank International in Hong Kong. "I think there (will) be some negotiations between Evergrande and its lenders, so some sort of haircut is still possible. The market still needs some time to digest and to price this in." (With inputs from agencies)

Evergrande makes crucial interest payment: Report

The Artificial Intelligence (AI) market in India is set to reach $7.8 billion by 2025 -- covering hardware, software and services markets -- and growing at a CAGR (compound annual growth rate) of 20.2 per cent, a new report showed on Tuesday.

The businesses in India will accelerate the adoption of both AI-centric and AI non-centric applications for the next five years, according to the International Data Corporation (IDC).

Also Read |&nbsp;<a href="https://www.wionews.com/world/artificial-intelligence-completes-beethovens-unfinished-tenth-symphony-417463">Artificial intelligence completes Beethoven's unfinished tenth symphony</a>

AI software segment will dominate the market and would grow from $2.8 billion in 2020 at a CAGR of 18.1 per cent by the end of 2025.

"Indian organisations plan to invest in AI to address current business scenarios across functions, such as customer service, human resources (HR), IT automation, security, recommendations, and many more," IDC India Associate Research Director, Cloud and AI, Rishu Sharma said.

"Increasing business resilience and enhancing customer retention are among the top business objectives for using AI by Indian enterprises," Sharma added.

Indian organisations cited the cloud as the preferred deployment location for their AI/ML solutions. About 51 per cent of organisations are processing transactional and social media data through AI/ML solutions in the country.

Also read |&nbsp;<a href="https://www.wionews.com/technology/spacecows-ai-to-help-rangers-predict-herds-movements-to-save-sacred-sites-and-rock-art-413278">SpaceCows: AI to help rangers predict herds' movements to save sacred sites and rock art</a>

"With data being one of the most crucial components in an AI/ML project, businesses use variety of databases to handle large data volumes for making real time business decisions. Organisations must focus on getting high-quality training data for AI/ML models," AI Senior Market Analyst, Swapnil Shende said.

AI applications forms the largest share of revenue for the AI software category, at more than 52 per cent in 2020.

"The major reasons for AI projects to fail includes disruptive results to current business processes and lack of follow-ups from business units," the report noted.

The Artificial Intelligence (AI) market in India is set to reach $7.8 billion by 2025 -- covering hardware, software and services markets -- and growing at a CAGR (compound annual growth rate) of 20.

The Artificial Intelligence (AI) market in India is set to reach $7.8 billion by 2025 -- covering hardware, software and services markets -- and growing at a CAGR (compound annual growth rate) of 20.2 per cent, a new report showed on Tuesday. The businesses in India will accelerate the adoption of both AI-centric and AI non-centric applications for the next five years, according to the International Data Corporation (IDC). Also Read | Artificial intelligence completes Beethoven's unfinished tenth symphony AI software segment will dominate the market and would grow from $2.8 billion in 2020 at a CAGR of 18.1 per cent by the end of 2025. "Indian organisations plan to invest in AI to address current business scenarios across functions, such as customer service, human resources (HR), IT automation, security, recommendations, and many more," IDC India Associate Research Director, Cloud and AI, Rishu Sharma said. "Increasing business resilience and enhancing customer retention are among the top business objectives for using AI by Indian enterprises," Sharma added. Indian organisations cited the cloud as the preferred deployment location for their AI/ML solutions. About 51 per cent of organisations are processing transactional and social media data through AI/ML solutions in the country. Also read | SpaceCows: AI to help rangers predict herds' movements to save sacred sites and rock art "With data being one of the most crucial components in an AI/ML project, businesses use variety of databases to handle large data volumes for making real time business decisions. Organisations must focus on getting high-quality training data for AI/ML models," AI Senior Market Analyst, Swapnil Shende said. AI applications forms the largest share of revenue for the AI software category, at more than 52 per cent in 2020. "The major reasons for AI projects to fail includes disruptive results to current business processes and lack of follow-ups from business units," the report noted.

India’s Artificial Intelligence market expected to touch $7.8 billion by 2025: Report

Ho Chi Minh City on Friday lifted a stay-at-home order that had kept its nine million residents indoors for three months and devastated business in Vietnam's economic hub.

To curb a fast-spreading wave of COVID-19 -- which struck the southern metropolis particularly hard -- residents have been unable to leave home, even for food, and almost all travel in and out of the area was suspended.

Almost half of Vietnam's total 790,000 virus cases were reported in the city, along with three-quarters of the country's deaths.

But after a gradual fall in cases, soldiers began dismantling road barriers on Friday and removing hundreds of checkpoints that had separated city districts.

"I am happy," said Tran Van Vu, who owns a store selling fruit, vegetables and meat and had planned to expand his business before the pandemic.

"During the lockdown our company was affected a lot... we didn't have enough delivery men as they had to be tested every two days and it was costly for the company."

Roads were busy for the first time in months after most businesses were given the go-ahead to reopen and vaccinated people permitted to move freely within the city.

Although authorities have kept a ban on travel to other provinces, thousands of families travelling by motorbike gathered at a checkpoint on the way out of the city, hoping to return to their hometowns.

Vietnam was once hailed as a model for virus containment, but the country struggled to stop the spread of a fourth wave of infection that began in April in northern industrial parks and quickly travelled south.

More than a third of Vietnam's 100 million people were under stay-at-home orders this summer, bringing the country's important manufacturing industry to its knees and breaking supply chains.

Its economy suffered its heaviest contraction on record in the third quarter, officials said Wednesday.

Factories in industrial parks and goods transportation services are among businesses allowed to open, authorities have said.

Less than 10 percent of Vietnamese are fully vaccinated but Ho Chi Minh City had been allocated the biggest number of jabs with almost all the city's adults inoculated.

 
&nbsp;

Ho Chi Minh City on Friday lifted a stay-at-home order that had kept its nine million residents indoors for three months and devastated business in Vietnam's economic hub.

Ho Chi Minh City on Friday lifted a stay-at-home order that had kept its nine million residents indoors for three months and devastated business in Vietnam's economic hub. To curb a fast-spreading wave of COVID-19 -- which struck the southern metropolis particularly hard -- residents have been unable to leave home, even for food, and almost all travel in and out of the area was suspended. Almost half of Vietnam's total 790,000 virus cases were reported in the city, along with three-quarters of the country's deaths. But after a gradual fall in cases, soldiers began dismantling road barriers on Friday and removing hundreds of checkpoints that had separated city districts. "I am happy," said Tran Van Vu, who owns a store selling fruit, vegetables and meat and had planned to expand his business before the pandemic. "During the lockdown our company was affected a lot... we didn't have enough delivery men as they had to be tested every two days and it was costly for the company." Roads were busy for the first time in months after most businesses were given the go-ahead to reopen and vaccinated people permitted to move freely within the city. Although authorities have kept a ban on travel to other provinces, thousands of families travelling by motorbike gathered at a checkpoint on the way out of the city, hoping to return to their hometowns. Vietnam was once hailed as a model for virus containment, but the country struggled to stop the spread of a fourth wave of infection that began in April in northern industrial parks and quickly travelled south. More than a third of Vietnam's 100 million people were under stay-at-home orders this summer, bringing the country's important manufacturing industry to its knees and breaking supply chains. Its economy suffered its heaviest contraction on record in the third quarter, officials said Wednesday. Factories in industrial parks and goods transportation services are among businesses allowed to open, authorities have said. Less than 10 percent of Vietnamese are fully vaccinated but Ho Chi Minh City had been allocated the biggest number of jabs with almost all the city's adults inoculated.

Vietnam's commercial hub back in business after 3-month lockdown

Global investors are in guessing mode as a crucial date for a key interest payment passed without a comment from indebted property company Evergrande. There are fears that China will let bondholders abroad swallow large losses. The liquidity crisis at the world's most indebted company is deepening.

Evergrande owes $305 billion, has run short of cash and investors are worried a collapse could pose systemic risks to China's financial system and reverberate around the world.

Deadline for payment of interest of USD 305 billion was Thursday (September 24). Bondholders have not been paid or heard from the company, reported Reuters quoting two people familiar with the situation.

Also Read | <a href="https://www.wionews.com/business-economy/evergrande-chairman-reassures-investors-shares-surge-415070">Evergrande chairman reassures investors, shares surge</a>

The firm has a 30-day grace period and will default if that passes without payment.

Evergrande's silence on the dollar bond interest payment and another $47.5 million payment due next week contrasts with its treatment of its domestic investors. The company this week resolved one coupon payment on a domestic bond.

"This is part of the tactics of any sovereign driven restructuring process - keeping people in the dark or guessing," said Karl Clowry, a partner at Addleshaw Goddard in London.

Also Read | <a href="https://www.wionews.com/world/chinas-crisis-hit-evergrande-says-deal-has-been-reached-to-avoid-default-414778">China's crisis-hit Evergrande says deal has been reached to avoid default</a>

"The view from Beijing is offshore bondholders are largely Western institutions and so can justifiably be given different treatment. I think people think it's still a falling knife."

China's central bank again injected cash into the banking system on Friday, seen as a signal of support for markets. But authorities have been silent on Evergrande's predicament and China's state media has offered no clues on a rescue package.

Also Read | <a href="https://www.wionews.com/opinions-blogs/chinas-evergrande-crisis-a-global-financial-crisis-in-the-making-414669">China's Evergrande crisis: A global financial crisis in the making</a>

"These are periods of eerie silence as no-one wants to take massive risks at this stage," said Howe Chung Wan, head of Asia fixed income at Principal Global Investors in Singapore.

"There's no precedent to this at the size of Evergrande ... we have to see in the next ten days or so, before China goes into holiday, how this is going to play out."

Evergrande appointed financial advisers and warned of default last week and world markets fell heavily on Monday amid fears of contagion, though they have since stabilised.

(With inputs from agencies)

Global investors are in guessing mode as a crucial date for a key interest payment passed without a comment from indebted property company Evergrande. There are fears that China will let bondholders abroad swallow large losses.

Global investors are in guessing mode as a crucial date for a key interest payment passed without a comment from indebted property company Evergrande. There are fears that China will let bondholders abroad swallow large losses. The liquidity crisis at the world's most indebted company is deepening. Evergrande owes $305 billion, has run short of cash and investors are worried a collapse could pose systemic risks to China's financial system and reverberate around the world. Deadline for payment of interest of USD 305 billion was Thursday (September 24). Bondholders have not been paid or heard from the company, reported Reuters quoting two people familiar with the situation. Also Read | Evergrande chairman reassures investors, shares surge The firm has a 30-day grace period and will default if that passes without payment. Evergrande's silence on the dollar bond interest payment and another $47.5 million payment due next week contrasts with its treatment of its domestic investors. The company this week resolved one coupon payment on a domestic bond. "This is part of the tactics of any sovereign driven restructuring process - keeping people in the dark or guessing," said Karl Clowry, a partner at Addleshaw Goddard in London. Also Read | China's crisis-hit Evergrande says deal has been reached to avoid default "The view from Beijing is offshore bondholders are largely Western institutions and so can justifiably be given different treatment. I think people think it's still a falling knife." China's central bank again injected cash into the banking system on Friday, seen as a signal of support for markets. But authorities have been silent on Evergrande's predicament and China's state media has offered no clues on a rescue package. Also Read | China's Evergrande crisis: A global financial crisis in the making "These are periods of eerie silence as no-one wants to take massive risks at this stage," said Howe Chung Wan, head of Asia fixed income at Principal Global Investors in Singapore. "There's no precedent to this at the size of Evergrande ... we have to see in the next ten days or so, before China goes into holiday, how this is going to play out." Evergrande appointed financial advisers and warned of default last week and world markets fell heavily on Monday amid fears of contagion, though they have since stabilised. (With inputs from agencies)

Evergrande investors in dark as no news on interest payment emerges

In a pathbreaking move, one of the oldest sex worker organisation based in Toronto has become the first of its kind to get unionised in the country under the Canadian Union of Public Employees (CUPE). &nbsp;

The group’s name is Maggie’s. Jassie Justice, an outreach worker at Maggie’s, who led union efforts, said “Unionising allows staff to tangibly address racism, transphobia, low wages, and too few working hours for staff.”

Watch:

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Although the union only represents Maggie’s staff, sex workers across Canada hope the move sparks a nationwide trend. &nbsp;&nbsp;

Sex workers say, unions make it possible for workers to force employers to give them paternity leave, paid time off and meaningful ways to address violations and abuses incurred on the job. Pay-docking can also be tackled through it.

Also Read:&nbsp;<a href="https://www.wionews.com/world/guinness-certifies-107-year-old-siblings-from-japan-as-worlds-oldest-twins-414652" hreflang="en">Guinness certifies 107-year-old siblings from Japan as world's oldest twins</a> &nbsp;

Across Canada, many strippers have to go through third-party agencies to get work at clubs, so they are subject to the ways they are treated by club management and by the agents coordinating their work. &nbsp;&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/over-41-million-dementia-cases-globally-undiagnosed-claims-study-414671" hreflang="en">Over 41 million dementia cases globally undiagnosed, claims study</a>

When it comes to pay, agencies take a cut, and clubs use pay docking as a way to penalise strippers for being late or failing to hit targets. “It’s straight-up extortion,” one stripper said. &nbsp;

To make matters worse, there aren’t enough government guidelines protecting sex workers, including strippers.&nbsp;

In a pathbreaking move, one of the oldest sex worker organisation based in Toronto has become the first of its kind to get unionised in the country under the Canadian Union of Public Employees (CUPE).

In a pathbreaking move, one of the oldest sex worker organisation based in Toronto has become the first of its kind to get unionised in the country under the Canadian Union of Public Employees (CUPE). The group’s name is Maggie’s. Jassie Justice, an outreach worker at Maggie’s, who led union efforts, said “Unionising allows staff to tangibly address racism, transphobia, low wages, and too few working hours for staff.” Watch: × Although the union only represents Maggie’s staff, sex workers across Canada hope the move sparks a nationwide trend. Sex workers say, unions make it possible for workers to force employers to give them paternity leave, paid time off and meaningful ways to address violations and abuses incurred on the job. Pay-docking can also be tackled through it. Also Read: Guinness certifies 107-year-old siblings from Japan as world's oldest twins Across Canada, many strippers have to go through third-party agencies to get work at clubs, so they are subject to the ways they are treated by club management and by the agents coordinating their work. Also Read: Over 41 million dementia cases globally undiagnosed, claims study When it comes to pay, agencies take a cut, and clubs use pay docking as a way to penalise strippers for being late or failing to hit targets. “It’s straight-up extortion,” one stripper said. To make matters worse, there aren’t enough government guidelines protecting sex workers, including strippers.

In a first, sex worker group gets unionised in Canada

Chinese ride-hailing giant Didi Global Inc has suspended its plans to launch in Britain and continental Europe, The Telegraph reported on Monday, against the backdrop of a regulatory backlash at home over data privacy.

Staff working on the planned launches have been told that they face possible redundancy and Didi has stopped hiring in Britain, pulling the launch plans for at least a year, according to the report.&nbsp;

"We continue to explore additional new markets, liaising with relevant stakeholders in each and being thoughtful about when to introduce our services," a Didi spokesperson said, without mentioning the UK launch plans.

"As soon as we have any more news on additional new markets, we look forward to sharing."

Chinese companies have been caught in a pincer with increasing U.S. scrutiny on one side and a domestic regulatory crackdown on the country's massive internet sector.

The move has rattled tech giants in the country and Didi is under a cybersecurity review, as China revamps its policy towards privacy and data security to ensure secure storage of user data.

Didi which listed its shares in New York in June after raising $4.4 billion in an initial public offering, is looking to expand its international business with recent launches in South Africa, Ecuador and Kazakhstan. 
&nbsp;

Chinese ride-hailing giant Didi Global Inc has suspended its plans to launch in Britain and continental Europe, The Telegraph reported on Monday, against the backdrop of a regulatory backlash at home over data privacy.

Chinese ride-hailing giant Didi Global Inc has suspended its plans to launch in Britain and continental Europe, The Telegraph reported on Monday, against the backdrop of a regulatory backlash at home over data privacy. Staff working on the planned launches have been told that they face possible redundancy and Didi has stopped hiring in Britain, pulling the launch plans for at least a year, according to the report. "We continue to explore additional new markets, liaising with relevant stakeholders in each and being thoughtful about when to introduce our services," a Didi spokesperson said, without mentioning the UK launch plans. "As soon as we have any more news on additional new markets, we look forward to sharing." Chinese companies have been caught in a pincer with increasing U.S. scrutiny on one side and a domestic regulatory crackdown on the country's massive internet sector. The move has rattled tech giants in the country and Didi is under a cybersecurity review, as China revamps its policy towards privacy and data security to ensure secure storage of user data. Didi which listed its shares in New York in June after raising $4.4 billion in an initial public offering, is looking to expand its international business with recent launches in South Africa, Ecuador and Kazakhstan.

Didi suspends UK launch plans amid China crackdown on tech firms - Telegraph

EBay shares are up 35% from the beginning of the year and are trading at $71.22 , down-from-52-week-high.

EBay forecasts revenue below estimates

The top US stock regulator on Friday announced new reporting requirements for Chinese shell companies listed on American exchanges. This was in response to Beijing's crackdown on big business.

Beijing has recently taken steps to tighten leash on major corporations in entertainment, ride-hailing, education and online shopping, including cybersecurity checks on firms planning to raise money in foreign markets

In a move he said was aimed at protecting American investors, Gary Gensler, head of the Securities and Exchange Commission (SEC), called for new disclosures including to "prominently and clearly" state whether they have permission to list overseas.

These requirements focus on offshore shell companies known as Variable Interest Entities (VIEs).

"I worry that average investors may not realize that they hold stock in a shell company rather than a China-based operating company," Gensler said in a statement.&nbsp;

"In light of the recent developments in China and the overall risks with the China-based VIE structure, I have asked staff to seek certain disclosures from offshore issuers associated with China-based operating companies."

He also said he asked SEC staff for "targeted additional reviews of filings for companies with significant China-based operations," but gave no details on how those would be determined.

China's new rules have roiled markets in recent days and caused some firms to shelve plans for initial stock offerings.

Ride-hailing giant Didi Chuxing defied authorities and went ahead with its IPO only to face a backlash when Beijing ordered the app to be removed from stores over cybersecurity concerns.

The top US stock regulator on Friday announced new reporting requirements for Chinese shell companies listed on American exchanges. This was in response to Beijing's crackdown on big business.

The top US stock regulator on Friday announced new reporting requirements for Chinese shell companies listed on American exchanges. This was in response to Beijing's crackdown on big business. Beijing has recently taken steps to tighten leash on major corporations in entertainment, ride-hailing, education and online shopping, including cybersecurity checks on firms planning to raise money in foreign markets In a move he said was aimed at protecting American investors, Gary Gensler, head of the Securities and Exchange Commission (SEC), called for new disclosures including to "prominently and clearly" state whether they have permission to list overseas. These requirements focus on offshore shell companies known as Variable Interest Entities (VIEs). "I worry that average investors may not realize that they hold stock in a shell company rather than a China-based operating company," Gensler said in a statement. "In light of the recent developments in China and the overall risks with the China-based VIE structure, I have asked staff to seek certain disclosures from offshore issuers associated with China-based operating companies." He also said he asked SEC staff for "targeted additional reviews of filings for companies with significant China-based operations," but gave no details on how those would be determined. China's new rules have roiled markets in recent days and caused some firms to shelve plans for initial stock offerings. Ride-hailing giant Didi Chuxing defied authorities and went ahead with its IPO only to face a backlash when Beijing ordered the app to be removed from stores over cybersecurity concerns.

US asks for more disclosure from Chinese firms amid Beijing's crackdown

Boeing Shares were up roughly 5% at $234 in afternoon trading even as the Dow Jones iIndustrial average dipped.

Boeing turns first profit in almost 2 years

The Sensex and Nifty indices in India finished flat on Friday, weighed down by losses in IT and financial companies amid negative global cues.

The midcap and smallcap indices both closed higher than the benchmarks, indicating that broader markets beat the benchmarks.

The Nifty IT, Nifty Bank, and Nifty Financial Services indices all fell, while the pharma, metal, real estate, and FMCG indices all rose.&nbsp;

Today's tumultuous trade saw the benchmark S&amp;P BSE Sensex close 19 points lower at 53,140, while the broader Nifty50 closed at 15,923, down 1 point.

In the intra-day session, both indices achieved lifetime highs of 53,291 and 15,962, respectively.&nbsp;

(With inputs from agencies) 
&nbsp;

The Sensex and Nifty indices in India finished flat on Friday, weighed down by losses in IT and financial companies amid negative global cues. The midcap and smallcap indices both closed higher than the benchmarks, indicating that broader markets beat the benchmarks.

The Sensex and Nifty indices in India finished flat on Friday, weighed down by losses in IT and financial companies amid negative global cues. The midcap and smallcap indices both closed higher than the benchmarks, indicating that broader markets beat the benchmarks. The Nifty IT, Nifty Bank, and Nifty Financial Services indices all fell, while the pharma, metal, real estate, and FMCG indices all rose. Today's tumultuous trade saw the benchmark S&P BSE Sensex close 19 points lower at 53,140, while the broader Nifty50 closed at 15,923, down 1 point. In the intra-day session, both indices achieved lifetime highs of 53,291 and 15,962, respectively. (With inputs from agencies)

Sensex and Nifty ended flat dragged by losses in IT and banking

Alphabet unit Google could face its biggest regulatory threat, with EU antitrust regulators set to open a formal investigation into its lucrative digital advertising business before the end of the year, said people familiar with the matter. 
 
It would mark a new front by the EU competition enforcer against Google. It has in the last decade fined the company more than 8 billion euros ($9.8 billion) for blocking rivals in online shopping, Android smartphones and online advertising. 
 
An EU probe would focus on Google's position vis-a-vis advertisers, publishers, intermediaries and rivals, one of the people said, indicating deeper scrutiny than the French antitrust agency's case concluded last week. 
 
Google made $147 billion in revenue from online ads last year, more than&nbsp;any other company in the world. Ads on its properties, including search, YouTube and Gmail, accounted for the bulk of sales and profits. 
 
About 16% of revenue came from its display or network business, in which other media companies use Google technology to sell ads on their website and apps. 
 
Both units are under fire. The US&nbsp;Justice Department, joined by some states, sued Google last year for abusing its dominance in search ads. A group of states led by Texas in a later lawsuit focussed on anti-competitive behaviour on the network side of the house. 
 
France last week settled with Google for $268 million and various commitments over similar allegations related to the network business, and the unit also must work closely with Britain's competition regulator on upcoming software changes as part of a settlement reached days later. 
 
The Commission declined to comment. Google did not immediately respond to a request for comment. 
 
A new EU inquiry could end up targeting all of Google's ad empire. Market researcher eMarketer expects Google to control 27% of global online ad spending this year, including 57% for search ads and 10% of display. 
 
While the numbers may not look monopolistic at first blush, advertisers and rivals contend that Google's various software play a role in so many facets of the market that the company is impossible to avoid. 
 
They say Google takes advantage of the dependence buyers, sellers and intermediaries have on it to extract high fees from all sides and block rivals from fairly competing with it. 
 
In a questionnaire sent to Google rivals and third parties earlier this year and seen by Reuters, the EU watchdog asked if advertisers receive rebates when they use Google intermediaries, which allow advertisers or media agencies to buy advertising inventory from many sources. 
 
The Commission should conclude ongoing cases before starting new ones, said Thomas Hoppner, a partner at law firm Hausfeld, and who advises several complainants against Google. 
 
"From the practitioner's point of view and from the industry's point of view, it appears equally important to bring investigations into local search and Google's job search to an end when other authorities have opened investigations into Google's adtech," he said. 
 
(With inputs from agencies)

Alphabet unit Google could face its biggest regulatory threat, with EU antitrust regulators set to open a formal investigation into its lucrative digital advertising business before the end of the year, said people familiar with the matter.

Alphabet unit Google could face its biggest regulatory threat, with EU antitrust regulators set to open a formal investigation into its lucrative digital advertising business before the end of the year, said people familiar with the matter. It would mark a new front by the EU competition enforcer against Google. It has in the last decade fined the company more than 8 billion euros ($9.8 billion) for blocking rivals in online shopping, Android smartphones and online advertising. An EU probe would focus on Google's position vis-a-vis advertisers, publishers, intermediaries and rivals, one of the people said, indicating deeper scrutiny than the French antitrust agency's case concluded last week. Google made $147 billion in revenue from online ads last year, more than any other company in the world. Ads on its properties, including search, YouTube and Gmail, accounted for the bulk of sales and profits. About 16% of revenue came from its display or network business, in which other media companies use Google technology to sell ads on their website and apps. Both units are under fire. The US Justice Department, joined by some states, sued Google last year for abusing its dominance in search ads. A group of states led by Texas in a later lawsuit focussed on anti-competitive behaviour on the network side of the house. France last week settled with Google for $268 million and various commitments over similar allegations related to the network business, and the unit also must work closely with Britain's competition regulator on upcoming software changes as part of a settlement reached days later. The Commission declined to comment. Google did not immediately respond to a request for comment. A new EU inquiry could end up targeting all of Google's ad empire. Market researcher eMarketer expects Google to control 27% of global online ad spending this year, including 57% for search ads and 10% of display. While the numbers may not look monopolistic at first blush, advertisers and rivals contend that Google's various software play a role in so many facets of the market that the company is impossible to avoid. They say Google takes advantage of the dependence buyers, sellers and intermediaries have on it to extract high fees from all sides and block rivals from fairly competing with it. In a questionnaire sent to Google rivals and third parties earlier this year and seen by Reuters, the EU watchdog asked if advertisers receive rebates when they use Google intermediaries, which allow advertisers or media agencies to buy advertising inventory from many sources. The Commission should conclude ongoing cases before starting new ones, said Thomas Hoppner, a partner at law firm Hausfeld, and who advises several complainants against Google. "From the practitioner's point of view and from the industry's point of view, it appears equally important to bring investigations into local search and Google's job search to an end when other authorities have opened investigations into Google's adtech," he said. (With inputs from agencies)

Google's adtech business set to face formal EU probe by year-end: Sources

On Wednesday, Brent settled at its highest price since April 2019 while WTI settled at its highest since October 2018.

Oil slips again on surging US dollar

British retailers reported a big boost in sales in May, after lockdown measures ended last month and a relaxation of COVID restrictions on hospitality drew more shoppers into town centres. The British Retail Consortium said total sales among its members, who include supermarkets and high-street chains, were 10.0% higher last month than in May two years ago.

UK retailers report strong May sales after lockdown ends

Bitcoin dipped 11.33% to $33,250 at 16:00 GMT on Sunday, losing $4,248.98 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is down 48% from the year's high of $64,895.22 on April 14.

Ether, the coin linked to the ethereum blockchain network, dropped 16.59 % to $1,915.34 on Sunday, losing $380.97 from its previous close.

Bitcoin markets operate 24/7, setting the stage for price swings at unpredictable hours.

"Many point to Bitcoin’s volatility as untenable," wrote RBC Capital Markets' Amy Wu Silverman in a research note published on Saturday. "Indeed, Bitcoin makes severe and dizzying swings."

Bitcoin had been under pressure after a series of tweets last week by billionaire Tesla Chief Executive and cryptocurrency backer Elon Musk, chiefly his reversal on Tesla accepting bitcoin as payment.

In addition, on Friday China cracked down on mining and trading of the largest cryptocurrency as part of ongoing efforts to prevent speculative and financial risks.

China's Financial Stability and Development Committee, chaired by Vice Premier Liu He, singled out bitcoin as the asset it needs to regulate more.

The statement, which came days after three Chinese industry bodies tightened a ban on banks and payment companies providing crypto-related services, was a sharp escalation of the country's push to stamp out speculation and fraud in virtual currencies.

China's latest campaign against crypto came after the U.S. Treasury Department on Thursday called for new rules that would require large cryptocurrency transfers to be reported to the Internal Revenue Service, and the Federal Reserve flagged the risks cryptocurrencies posed to financial stability.

Bitcoin dipped 11.33% to $33,250 at 16:00 GMT on Sunday, losing $4,248.98 from its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is down 48% from the year's high of $64,895.

Bitcoin dipped 11.33% to $33,250 at 16:00 GMT on Sunday, losing $4,248.98 from its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is down 48% from the year's high of $64,895.22 on April 14. Ether, the coin linked to the ethereum blockchain network, dropped 16.59 % to $1,915.34 on Sunday, losing $380.97 from its previous close. Bitcoin markets operate 24/7, setting the stage for price swings at unpredictable hours. "Many point to Bitcoin’s volatility as untenable," wrote RBC Capital Markets' Amy Wu Silverman in a research note published on Saturday. "Indeed, Bitcoin makes severe and dizzying swings." Bitcoin had been under pressure after a series of tweets last week by billionaire Tesla Chief Executive and cryptocurrency backer Elon Musk, chiefly his reversal on Tesla accepting bitcoin as payment. In addition, on Friday China cracked down on mining and trading of the largest cryptocurrency as part of ongoing efforts to prevent speculative and financial risks. China's Financial Stability and Development Committee, chaired by Vice Premier Liu He, singled out bitcoin as the asset it needs to regulate more. The statement, which came days after three Chinese industry bodies tightened a ban on banks and payment companies providing crypto-related services, was a sharp escalation of the country's push to stamp out speculation and fraud in virtual currencies. China's latest campaign against crypto came after the U.S. Treasury Department on Thursday called for new rules that would require large cryptocurrency transfers to be reported to the Internal Revenue Service, and the Federal Reserve flagged the risks cryptocurrencies posed to financial stability.

Bitcoin falls 11.3 per cent to USD 33,250, ether down 16.6 per cent

Bitcoin regained some lost ground to trade near $40,000 on Thursday, a day after a brutal selloff on concerns over tighter regulation in China and unease over the extent of leveraged positions in the cryptocurrency world.

The biggest and most popular cryptocurrency rose 9% to a touch below $40,000, after plunging 14% on Wednesday to its lowest since late January. Smaller rival ether was up 11% at $2,700 at 0829 GMT, after its 28% tumble.

Its bounce came after prominent crypto backers such Ark Invest's Cathie Wood and carmaker Tesla's Elon Musk indicated their support on Wednesday. Wood said in an interview with Bloomberg that she was still sticking to her $500,000 forecast.

Musk reiterated that Tesla was holding on to its bitcoin investments.

"People consider this as a 'buy the dip' moment, and many consider this as 'the last chance to buy bitcoin cheap'," said Ruud Feltkamp, chief executive at crypto trading bot Cryptohopper. "The next few months will show if the bull market will continue or if it's the start of the end of its run."

Wednesday's declines in both digital assets were one of their biggest daily percentage moves in more than a year as investors rushed to exit trades that until recently were outperforming traditional markets such as stocks and bonds.

The latest catalyst was a statement by Chinese financial industry bodies banning the use of cryptocurrencies in payment and settlement, and prohibiting institutions from providing crypto-related products or exchange services between cryptocurrencies and the yuan or foreign currencies.

But bitcoin had already been under pressure for almost a week after a series of tweets from Musk, a major cryptocurrency backer, chiefly his reversal on Tesla accepting bitcoin as payment.

Analysts said the upheaval was far from over.

"It's too early to say if the rebound we’ve seen off the lows in crypto has legs," said Chris Weston, head of research at brokerage Pepperstone in Melbourne.

"I question if we will get a chance to catch our breath or is there more volatility in store?" he said.

Weston pointed to how $9.13 billion of cryptocurrency positions had been liquidated across exchanges over 24 hours, and $532 billion in total volume transacted.

The slide forced some investors to close out leveraged positions in cryptocurrency derivatives, which caused prices to fall further and knocked digital assets down into a lower trading range, traders said.

Coming off a six-fold jump on the back of rising usage in non-fungible tokens on digital art platforms, ether's selloff was far more damaging with the digital currency trading 39% below record highs.

James Quinn, managing director at Q9 Capital, a Hong Kong-based cryptocurrency private wealth manager, said the selling reflected huge crowded positions in ether.

"Sometimes a market event is looking for a cause. I think this is about positioning. Over the long term, maybe it’s positive because a very crowded trade from a lot of new entrants means there are a lot of new entrants," Quinn added.

Still, ether is up more than 270% so far this year and bitcoin's year-to-date gains stand at 37%.

While some retail traders saw missed opportunities in the slide, others saw the rout as a chance to pick up digital assets on the cheap.

Milko Markov, an independent London-based trader, said he had been buying ether.

"Those with a bit more experience in the crypto market know two cardinal rules: don't leverage and dollar cost average," he said. (Graphic: Bitcoin slumped 14% on May 19 - worst selloff since March 2020.

Bitcoin regained some lost ground to trade near $40,000 on Thursday, a day after a brutal selloff on concerns over tighter regulation in China and unease over the extent of leveraged positions in the cryptocurrency world.

Bitcoin regained some lost ground to trade near $40,000 on Thursday, a day after a brutal selloff on concerns over tighter regulation in China and unease over the extent of leveraged positions in the cryptocurrency world. The biggest and most popular cryptocurrency rose 9% to a touch below $40,000, after plunging 14% on Wednesday to its lowest since late January. Smaller rival ether was up 11% at $2,700 at 0829 GMT, after its 28% tumble. Its bounce came after prominent crypto backers such Ark Invest's Cathie Wood and carmaker Tesla's Elon Musk indicated their support on Wednesday. Wood said in an interview with Bloomberg that she was still sticking to her $500,000 forecast. Musk reiterated that Tesla was holding on to its bitcoin investments. "People consider this as a 'buy the dip' moment, and many consider this as 'the last chance to buy bitcoin cheap'," said Ruud Feltkamp, chief executive at crypto trading bot Cryptohopper. "The next few months will show if the bull market will continue or if it's the start of the end of its run." Wednesday's declines in both digital assets were one of their biggest daily percentage moves in more than a year as investors rushed to exit trades that until recently were outperforming traditional markets such as stocks and bonds. The latest catalyst was a statement by Chinese financial industry bodies banning the use of cryptocurrencies in payment and settlement, and prohibiting institutions from providing crypto-related products or exchange services between cryptocurrencies and the yuan or foreign currencies. But bitcoin had already been under pressure for almost a week after a series of tweets from Musk, a major cryptocurrency backer, chiefly his reversal on Tesla accepting bitcoin as payment. Analysts said the upheaval was far from over. "It's too early to say if the rebound we’ve seen off the lows in crypto has legs," said Chris Weston, head of research at brokerage Pepperstone in Melbourne. "I question if we will get a chance to catch our breath or is there more volatility in store?" he said. Weston pointed to how $9.13 billion of cryptocurrency positions had been liquidated across exchanges over 24 hours, and $532 billion in total volume transacted. The slide forced some investors to close out leveraged positions in cryptocurrency derivatives, which caused prices to fall further and knocked digital assets down into a lower trading range, traders said. Coming off a six-fold jump on the back of rising usage in non-fungible tokens on digital art platforms, ether's selloff was far more damaging with the digital currency trading 39% below record highs. James Quinn, managing director at Q9 Capital, a Hong Kong-based cryptocurrency private wealth manager, said the selling reflected huge crowded positions in ether. "Sometimes a market event is looking for a cause. I think this is about positioning. Over the long term, maybe it’s positive because a very crowded trade from a lot of new entrants means there are a lot of new entrants," Quinn added. Still, ether is up more than 270% so far this year and bitcoin's year-to-date gains stand at 37%. While some retail traders saw missed opportunities in the slide, others saw the rout as a chance to pick up digital assets on the cheap. Milko Markov, an independent London-based trader, said he had been buying ether. "Those with a bit more experience in the crypto market know two cardinal rules: don't leverage and dollar cost average," he said. (Graphic: Bitcoin slumped 14% on May 19 - worst selloff since March 2020.

Bitcoin's star backers, dip buyers help cryptos recover

The net loss came after an exceptional charge of Rs 14,994.30 crore was recognised under JLR's Reimagine strategy.

Tata Motors reports surprise loss for the fourth quarter

The United Arab Emirates announced Wednesday it will lift a cap on non-local ownership and allow full foreign control of business ventures from June 1.

The reform, originally flagged in 2019, will make it easier to do business in the Gulf state and encourage investment, the economy ministry said.

"The amended Commercial Companies Law aims at boosting the country’s competitive edge and is a part of&nbsp;UAE&nbsp;government efforts to facilitate doing business," said Economy Minister Abdulla bin Touq al-Marri.

Also read |&nbsp;<a href="https://www.wionews.com/world/uae-urges-mideast-ceasefire-offers-condolences-to-all-victims-report-385151">UAE urges Mideast ceasefire, offers condolences to all victims: Report</a>&nbsp;

The decision abolishes a longstanding law that limits foreign ownership to just 49 per cent.

To dodge the limit, some of the seven emirates that make up the&nbsp;UAE, including Dubai, have for years established free trade zones where foreigners can own up to 100 per cent of their business.

The&nbsp;UAE's economy is the second-largest in the Arab world, behind Saudi Arabia.

It counts as the most diversified, particularly thanks to Dubai which gains 95 per cent of its income from outside the oil industry.

Also read |&nbsp;<a href="https://www.wionews.com/world/uae-urges-israel-to-stop-jerusalem-violence-in-rare-rebuke-380585">UAE urges Israel to stop Jerusalem violence in rare rebuke</a>

The capital Abu Dhabi sits on the majority of the&nbsp;UAE's vast oil reserves.

The country ranks 16th in the World Bank's index on the ease of doing business.

The decision opens up 13 major economic sectors to unrestricted foreign investment, including renewable energy, agriculture, transport and e-commerce.

In 2019, the&nbsp;UAE&nbsp;was the top destination for foreign direct investment in the Arab world, attracting nearly $13.8 billion, according to the United Nations Conference on Trade and Development (UNCTAD).

The United Arab Emirates announced Wednesday it will lift a cap on non-local ownership and allow full foreign control of business ventures from June 1. The reform, originally flagged in 2019, will make it easier to do business in the Gulf state and encourage investment, the economy ministry said.

The United Arab Emirates announced Wednesday it will lift a cap on non-local ownership and allow full foreign control of business ventures from June 1. The reform, originally flagged in 2019, will make it easier to do business in the Gulf state and encourage investment, the economy ministry said. "The amended Commercial Companies Law aims at boosting the country’s competitive edge and is a part of UAE government efforts to facilitate doing business," said Economy Minister Abdulla bin Touq al-Marri. Also read | UAE urges Mideast ceasefire, offers condolences to all victims: Report The decision abolishes a longstanding law that limits foreign ownership to just 49 per cent. To dodge the limit, some of the seven emirates that make up the UAE, including Dubai, have for years established free trade zones where foreigners can own up to 100 per cent of their business. The UAE's economy is the second-largest in the Arab world, behind Saudi Arabia. It counts as the most diversified, particularly thanks to Dubai which gains 95 per cent of its income from outside the oil industry. Also read | UAE urges Israel to stop Jerusalem violence in rare rebuke The capital Abu Dhabi sits on the majority of the UAE's vast oil reserves. The country ranks 16th in the World Bank's index on the ease of doing business. The decision opens up 13 major economic sectors to unrestricted foreign investment, including renewable energy, agriculture, transport and e-commerce. In 2019, the UAE was the top destination for foreign direct investment in the Arab world, attracting nearly $13.8 billion, according to the United Nations Conference on Trade and Development (UNCTAD).

UAE to allow full foreign ownership of firms

China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading.&nbsp;

Under the ban, such institutions, including banks and online payments channels, must not offer clients any service involving cryptocurrency, such as registration, trading, clearing and settlement, three industry bodies said in a joint statement on Tuesday.&nbsp;

"Recently, crypto currency prices have skyrocketed and plummeted, and speculative trading of cryptocurrency has rebounded, seriously infringing on the safety of people's property and disrupting the normal economic and financial order," they said in the statement.&nbsp;

China has banned crypto exchanges and initial coin offerings but has not barred individuals from holding cryptocurrencies.&nbsp;

The institutions must not provide saving, trust or pledging services of cryptocurrency, nor issue financial product related to cryptocurrency, the statement also said.&nbsp;

The statement also highlighted the risks of cryptocurrency trading, saying vitural currencies 'are not supported by real value’, their prices are easily manipulated, and trading contracts are not protected by Chinese law. &nbsp;

The three industry bodies are the National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China. &nbsp;

China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading.

China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading. Under the ban, such institutions, including banks and online payments channels, must not offer clients any service involving cryptocurrency, such as registration, trading, clearing and settlement, three industry bodies said in a joint statement on Tuesday. "Recently, crypto currency prices have skyrocketed and plummeted, and speculative trading of cryptocurrency has rebounded, seriously infringing on the safety of people's property and disrupting the normal economic and financial order," they said in the statement. China has banned crypto exchanges and initial coin offerings but has not barred individuals from holding cryptocurrencies. The institutions must not provide saving, trust or pledging services of cryptocurrency, nor issue financial product related to cryptocurrency, the statement also said. The statement also highlighted the risks of cryptocurrency trading, saying vitural currencies 'are not supported by real value’, their prices are easily manipulated, and trading contracts are not protected by Chinese law. The three industry bodies are the National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China.

China bans financial, payment institutions from cryptocurrency business 

Friends will hug, pints will be pulled and swathes of the British economy will reopen on Monday, giving 65 million people a measure of freedom after the gloom of a four-month COVID-19 lockdown.&nbsp;

Most of the British will be free once again to hug, albeit cautiously, drink a pint in their pub, sit down to an indoor meal or visit the cinema after a series of lockdowns that imposed the strictest restrictions in peacetime history.&nbsp;

The biggest public health crisis in a century was accompanied by a drastic extension of state power; during England's lockdowns police broke up parties and protests alike, shut down religious services and handed out fines of up to 10,000 pounds ($14,000) to youngsters for partying.&nbsp;

As freedom beckons once more, there is excitement. &nbsp;

"I shall be hugging literally everyone I can get my hands on," British actress Joanna Lumley told The Telegraph newspaper. "I shall snatch babies from their mothers, and lean over zimmer frames." &nbsp;

"I shall hug girls at the till, the picture framer, and lads playing footie in the park. Much later obviously I shall be hugging police personnel as I am charged at the station. Hugger-mugger, that’s me."&nbsp;

Beside the euphoria, though, there is also anxiety.&nbsp;

Prime Minister Boris Johnson, who before he imposed three national lockdowns had railed against the 'nanny' tendencies of the British state, advised people to cuddle cautiously and served notice that the spread of the coronavirus variant first identified in India meant that the final UK reopening in June could be delayed.&nbsp;

"Together, we have reached another milestone in our roadmap out of lockdown, but we must take this next step with a heavy dose of caution," Johnson said in a statement.&nbsp;

There is growing concern about variant B.1.617.2 which British scientific advisers say will become the dominant variant in the United Kingdom and which is more transmissible than B.1.1.7 (the variant first identified in Kent, England).&nbsp;

Broadly, from Monday, in England gatherings of up to 30 people will be allowed outdoors, two families will be allowed to meet indoors; cafes, bars and restaurants will reopen for indoor service; care home residents will be allowed to have five visitors; and face coverings will no longer be compulsory in schools. &nbsp;

(With inputs from agencies)&nbsp;

Friends will hug, pints will be pulled and swathes of the British economy will reopen on Monday, giving 65 million people a measure of freedom after the gloom of a four-month COVID-19 lockdown.

Friends will hug, pints will be pulled and swathes of the British economy will reopen on Monday, giving 65 million people a measure of freedom after the gloom of a four-month COVID-19 lockdown. Most of the British will be free once again to hug, albeit cautiously, drink a pint in their pub, sit down to an indoor meal or visit the cinema after a series of lockdowns that imposed the strictest restrictions in peacetime history. The biggest public health crisis in a century was accompanied by a drastic extension of state power; during England's lockdowns police broke up parties and protests alike, shut down religious services and handed out fines of up to 10,000 pounds ($14,000) to youngsters for partying. As freedom beckons once more, there is excitement. "I shall be hugging literally everyone I can get my hands on," British actress Joanna Lumley told The Telegraph newspaper. "I shall snatch babies from their mothers, and lean over zimmer frames." "I shall hug girls at the till, the picture framer, and lads playing footie in the park. Much later obviously I shall be hugging police personnel as I am charged at the station. Hugger-mugger, that’s me." Beside the euphoria, though, there is also anxiety. Prime Minister Boris Johnson, who before he imposed three national lockdowns had railed against the 'nanny' tendencies of the British state, advised people to cuddle cautiously and served notice that the spread of the coronavirus variant first identified in India meant that the final UK reopening in June could be delayed. "Together, we have reached another milestone in our roadmap out of lockdown, but we must take this next step with a heavy dose of caution," Johnson said in a statement. There is growing concern about variant B.1.617.2 which British scientific advisers say will become the dominant variant in the United Kingdom and which is more transmissible than B.1.1.7 (the variant first identified in Kent, England). Broadly, from Monday, in England gatherings of up to 30 people will be allowed outdoors, two families will be allowed to meet indoors; cafes, bars and restaurants will reopen for indoor service; care home residents will be allowed to have five visitors; and face coverings will no longer be compulsory in schools. (With inputs from agencies)

Free at last to hug and party: UK reopens for business 

Washington is to lift pandemic restrictions&nbsp;on&nbsp;most&nbsp;businesses&nbsp;and public venues in less than two weeks, with the daily toll of new&nbsp;Covid cases in the US&nbsp;capital&nbsp;at its lowest level in almost a year.

As the vaccination drive gathers pace, the city's famed Smithsonian museums and zoo, as well as shops, restaurants, places of worship and numerous other venues, will see capacity&nbsp;curbs&nbsp;removed entirely by&nbsp;May&nbsp;21.&nbsp;

Also read |&nbsp;<a href="US is likely 'undercounting' Covid deaths, says Dr Fauci">US is likely 'undercounting' Covid deaths, says Dr Fauci</a>

Bars, nightclubs and large entertainment venues and sports stadiums will have to wait until June 11 to fully reopen, Mayor Muriel Bowser's office said in a public health update.

Masks will still be required indoors for people not eating or drinking.

Also read |&nbsp;<a href="US turning a corner on pandemic, says White House coordinator">US turning a corner on pandemic, says White House coordinator</a>

'On&nbsp;Friday,&nbsp;May&nbsp;21&nbsp;we will be turning&nbsp;on&nbsp;substantially more activity in the district,'&nbsp;Bowser told reporters.

"And we anticipate three weeks following that,&nbsp;on&nbsp;June 11 that we will be able to turn up activity in the district, all the way."&nbsp;

The city has seen new daily infections&nbsp;drop&nbsp;into single figures per 100,000 people since an alarming January peak of more than 40, with the infection rate now at its lowest in 10 months.&nbsp;

Infections are similarly down in neighboring Virginia and Maryland.

The District of Columbia has fully vaccinated 226,566 of its population of around 700,000.

The&nbsp;capital&nbsp;began easing pandemic&nbsp;curbs&nbsp;on&nbsp;May&nbsp;1, allowing shops to increase from 25 per cent to 50 per cent capacity and restaurants to seat 10 people per table.

According to a survey conducted in March by the Kaiser Family Foundation, 25 per cent of Americans aged 18 to 29 are adopting a 'wait and see'&nbsp;attitude towards being vaccinated.

President Joe Biden wants 70 per cent of adults nationwide to have received at least one shot by Independence Day&nbsp;on&nbsp;July 4, and Washington has joined several other cities in offering incentives in a bid to overcome vaccine hesitancy.

Bowser has urged residents to 'come get vaccinated and grab a beer,&nbsp;on&nbsp;us'&nbsp;at the John F&nbsp;Kennedy Center for the Performing Arts.

"Throughout this process, I have said how proud I am of DC residents and&nbsp;businesses&nbsp;who have responded, who have followed health guidance and have worked together to help protect our community throughout the pandemic, and we see it in these numbers today," the mayor said on Monday.&nbsp;

Washington is to lift pandemic restrictions on most businesses and public venues in less than two weeks, with the daily toll of new Covid cases in the US capital at its lowest level in almost a year.

Washington is to lift pandemic restrictions on most businesses and public venues in less than two weeks, with the daily toll of new Covid cases in the US capital at its lowest level in almost a year. As the vaccination drive gathers pace, the city's famed Smithsonian museums and zoo, as well as shops, restaurants, places of worship and numerous other venues, will see capacity curbs removed entirely by May 21. Also read | US is likely 'undercounting' Covid deaths, says Dr Fauci Bars, nightclubs and large entertainment venues and sports stadiums will have to wait until June 11 to fully reopen, Mayor Muriel Bowser's office said in a public health update. Masks will still be required indoors for people not eating or drinking. Also read | US turning a corner on pandemic, says White House coordinator 'On Friday, May 21 we will be turning on substantially more activity in the district,' Bowser told reporters. "And we anticipate three weeks following that, on June 11 that we will be able to turn up activity in the district, all the way." The city has seen new daily infections drop into single figures per 100,000 people since an alarming January peak of more than 40, with the infection rate now at its lowest in 10 months. Infections are similarly down in neighboring Virginia and Maryland. The District of Columbia has fully vaccinated 226,566 of its population of around 700,000. The capital began easing pandemic curbs on May 1, allowing shops to increase from 25 per cent to 50 per cent capacity and restaurants to seat 10 people per table. According to a survey conducted in March by the Kaiser Family Foundation, 25 per cent of Americans aged 18 to 29 are adopting a 'wait and see' attitude towards being vaccinated. President Joe Biden wants 70 per cent of adults nationwide to have received at least one shot by Independence Day on July 4, and Washington has joined several other cities in offering incentives in a bid to overcome vaccine hesitancy. Bowser has urged residents to 'come get vaccinated and grab a beer, on us' at the John F Kennedy Center for the Performing Arts. "Throughout this process, I have said how proud I am of DC residents and businesses who have responded, who have followed health guidance and have worked together to help protect our community throughout the pandemic, and we see it in these numbers today," the mayor said on Monday.

US capital to drop Covid curbs for most businesses on May 21

World's largest economy US is recovering at a fast pace. Businesses and households improved their balance sheets late last year with the help of government support, but some consumers and the smallest businesses continued to struggle.

World Business Watch: US households and businesses facing unequal recovery

North American companies boosted spending on industrial robots in the first quarter as they scrambled to keep up with surging demand in the wake of the COVID-19 pandemic. 
 
Companies ordered 9,098 robots in the first quarter, a 19.6% increase over a year ago, according to the Association for Advancing Automation, an industry group based in Ann Arbor, Michigan. The orders were valued at over $466 million in total. 
 
Robots were once concentrated in the auto industry but are now moving into more corners of the economy, from e-commerce warehouses to food processing plants. For the first time last year, most of the robots ordered by companies in North America weren’t destined for auto factories or their parts suppliers. 
 
The strongest growth in the latest quarter was to metal producers, where orders surged 86%. Orders to life science, pharmaceutical and biomedical companies rose 72%, while orders to consumer goods companies increased 32%. 
 
“The strong economy obviously helps,” said Jeff Burnstein, president of the Association for Advancing Automation, “It gives companies the confidence to invest in more things -- including in more automation.” 
 
Burnstein said the pandemic froze many businesses, as operations shut down to protect human health. “But ultimately it accelerated the adoption of automation, because companies recognized if they were going to do it, now would be the time.” 
 
Tyson Foods Inc, the U.S. meat company, is among those looking to use more robots on its production lines. In 2019, the company opened a 26,000 square foot automation research centre near its headquarters in Springdale, Arkansas. 
 
“For the most part, it’s still too soon for some of the really innovative and proprietary systems we’re developing,” said Marty Linn, the centre’s director of engineering. Automating jobs such as deboning chickens is extremely difficult, he noted, because the size and shape of each chicken can vary greatly. Robots work best when they can handle uniform items. 
 
With that in mind, Linn said, Tyson has already started installing at its plants' robots that sit at the end of production lines and automatically stack and wrap boxes on pallets - a process that involves standard shapes and the repetition of precise movements.

North American companies boosted spending on industrial robots in the first quarter as they scrambled to keep up with surging demand in the wake of the COVID-19 pandemic.

North American companies boosted spending on industrial robots in the first quarter as they scrambled to keep up with surging demand in the wake of the COVID-19 pandemic. Companies ordered 9,098 robots in the first quarter, a 19.6% increase over a year ago, according to the Association for Advancing Automation, an industry group based in Ann Arbor, Michigan. The orders were valued at over $466 million in total. Robots were once concentrated in the auto industry but are now moving into more corners of the economy, from e-commerce warehouses to food processing plants. For the first time last year, most of the robots ordered by companies in North America weren’t destined for auto factories or their parts suppliers. The strongest growth in the latest quarter was to metal producers, where orders surged 86%. Orders to life science, pharmaceutical and biomedical companies rose 72%, while orders to consumer goods companies increased 32%. “The strong economy obviously helps,” said Jeff Burnstein, president of the Association for Advancing Automation, “It gives companies the confidence to invest in more things -- including in more automation.” Burnstein said the pandemic froze many businesses, as operations shut down to protect human health. “But ultimately it accelerated the adoption of automation, because companies recognized if they were going to do it, now would be the time.” Tyson Foods Inc, the U.S. meat company, is among those looking to use more robots on its production lines. In 2019, the company opened a 26,000 square foot automation research centre near its headquarters in Springdale, Arkansas. “For the most part, it’s still too soon for some of the really innovative and proprietary systems we’re developing,” said Marty Linn, the centre’s director of engineering. Automating jobs such as deboning chickens is extremely difficult, he noted, because the size and shape of each chicken can vary greatly. Robots work best when they can handle uniform items. With that in mind, Linn said, Tyson has already started installing at its plants' robots that sit at the end of production lines and automatically stack and wrap boxes on pallets - a process that involves standard shapes and the repetition of precise movements.

North American companies buying more robots to keep up with demand

Nintendo&nbsp;reported its highest ever annual profit Thursday after virus lockdowns caused sales of its blockbuster Switch console to soar, but the Japanese gaming giant warned the bumper pandemic year would be hard to repeat.

While fresh waves of infections have dashed recovery hopes in many industries, successive rounds of restrictions have helped extend a run of good fortune for video game companies as people seek indoor entertainment.

The firm said surging sales were propelled by the runaway popularity of the Switch and the family-friendly game "Animal Crossing", which became a lockdown hit.

Net profit jumped 85.7 per cent from a year earlier to 480.4 billion yen ($4.4 billion) for the fiscal year to March, beating the company's prediction of 400 billion yen.

It broke its previous profit record set in 2008-09 when it was generating massive revenue driven by its Wii and DS consoles.

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Sales were up 34.4 per cent to 1.76 trillion yen,&nbsp;Nintendo&nbsp;said, with 28.8 million Switch units sold,&nbsp;the highest number since the console, which can be handheld or used with a TV, launched four years ago.

But the Kyoto-based company forecast a tougher outlook for the current 2021-22 fiscal year, projecting net profit at 340 billion yen on sales of 1.6 trillion yen.

"Regarding the risk associated with COVID-19... the supply of products might be affected if production and shipments are hindered,"&nbsp;Nintendo&nbsp;said in a statement.

"In addition, the production of products might be affected by obstacles to the procurement of parts, including the increase in global demand for semiconductor components," it said.

The world is facing a chip shortage, driven by a surge in demand for electronic devices during the pandemic and compounded by a fire at a Japanese factory and a drought in Taiwan.

"The global semiconductor shortage could hit the gaming industry hard this year as other essential industries such as the auto sector are waging a fierce battle for chips," Yasuo Imanaka, chief analyst at Rakuten Securities, told AFP.

Tricky fifth year&nbsp;

The Switch was the United States' top-selling console in 2020, a year that saw record sales of video games, consoles and accessories, according to NPD Group, a market research firm.

Nintendo&nbsp;forecast global sales at 25.5 million Switch units for this fiscal year.

"Nintendo&nbsp;enjoyed strong sales, fully taking advantage of the lockdown demand," Hideki Yasuda, an analyst at Ace Research Institute in Tokyo, told AFP ahead of the results.

"I don't think the outlook is so pessimistic, as&nbsp;Nintendo&nbsp;has won new game users during the pandemic," he added.

The lower profit target comes as the Switch enters its crucial fifth year. Previously&nbsp;Nintendo's new console sales have tended to peak in the third year after release, and then taper off.

"Animal Crossing: New Horizons", the latest title in the "Animal Crossing" series, was released in March 2020, as the Covid-19 pandemic was causing many countries to impose strict lockdowns.

The game sees players guide their digital personas around an uninhabited island, slowly transforming the landscape with a house, garden and eventually a thriving community of adorable cartoon animal neighbours.

Its leisurely pace struck a chord with gamers around the world, many of them yearning for a virtual escape from the onerous restrictions on movement.

Nintendo's first-ever real-life theme park, a "Super Mario"-themed zone at Universal Studios Japan, also opened in March after months of pandemic delays, but was forced to close by new virus restrictions just over a month later.

Nintendo reported its highest ever annual profit Thursday after virus lockdowns caused sales of its blockbuster Switch console to soar, but the Japanese gaming giant warned the bumper pandemic year would be hard to repeat.

Nintendo reported its highest ever annual profit Thursday after virus lockdowns caused sales of its blockbuster Switch console to soar, but the Japanese gaming giant warned the bumper pandemic year would be hard to repeat. While fresh waves of infections have dashed recovery hopes in many industries, successive rounds of restrictions have helped extend a run of good fortune for video game companies as people seek indoor entertainment. The firm said surging sales were propelled by the runaway popularity of the Switch and the family-friendly game "Animal Crossing", which became a lockdown hit. Net profit jumped 85.7 per cent from a year earlier to 480.4 billion yen ($4.4 billion) for the fiscal year to March, beating the company's prediction of 400 billion yen. It broke its previous profit record set in 2008-09 when it was generating massive revenue driven by its Wii and DS consoles. Sales were up 34.4 per cent to 1.76 trillion yen, Nintendo said, with 28.8 million Switch units sold, the highest number since the console, which can be handheld or used with a TV, launched four years ago. But the Kyoto-based company forecast a tougher outlook for the current 2021-22 fiscal year, projecting net profit at 340 billion yen on sales of 1.6 trillion yen. "Regarding the risk associated with COVID-19... the supply of products might be affected if production and shipments are hindered," Nintendo said in a statement. "In addition, the production of products might be affected by obstacles to the procurement of parts, including the increase in global demand for semiconductor components," it said. The world is facing a chip shortage, driven by a surge in demand for electronic devices during the pandemic and compounded by a fire at a Japanese factory and a drought in Taiwan. "The global semiconductor shortage could hit the gaming industry hard this year as other essential industries such as the auto sector are waging a fierce battle for chips," Yasuo Imanaka, chief analyst at Rakuten Securities, told AFP. Tricky fifth year The Switch was the United States' top-selling console in 2020, a year that saw record sales of video games, consoles and accessories, according to NPD Group, a market research firm. Nintendo forecast global sales at 25.5 million Switch units for this fiscal year. "Nintendo enjoyed strong sales, fully taking advantage of the lockdown demand," Hideki Yasuda, an analyst at Ace Research Institute in Tokyo, told AFP ahead of the results. "I don't think the outlook is so pessimistic, as Nintendo has won new game users during the pandemic," he added. The lower profit target comes as the Switch enters its crucial fifth year. Previously Nintendo's new console sales have tended to peak in the third year after release, and then taper off. "Animal Crossing: New Horizons", the latest title in the "Animal Crossing" series, was released in March 2020, as the Covid-19 pandemic was causing many countries to impose strict lockdowns. The game sees players guide their digital personas around an uninhabited island, slowly transforming the landscape with a house, garden and eventually a thriving community of adorable cartoon animal neighbours. Its leisurely pace struck a chord with gamers around the world, many of them yearning for a virtual escape from the onerous restrictions on movement. Nintendo's first-ever real-life theme park, a "Super Mario"-themed zone at Universal Studios Japan, also opened in March after months of pandemic delays, but was forced to close by new virus restrictions just over a month later.

Nintendo logs record pandemic profit but outlook cautious

China has no business telling the Philippines what it can or cannot do within its waters, Manila's defence ministry said on Wednesday, rejecting Beijing's opposition to its ongoing coastguard exercises. &nbsp;

China claims almost the entire South China Sea, where about $3 trillion worth of ship-borne trade passes each year. In 2016, an arbitration tribunal in The Hague ruled that claim, which Beijing bases on its old maps, was inconsistent with international law. &nbsp;

Philippines Defence Secretary Delfin Lorenzana told reporters that Beijing had "no authority or legal basis to prevent us from conducting these exercises" in the South China Sea because "their claims... have no basis".&nbsp;

The Philippine coastguard and fisheries bureau started maritime exercises on Saturday inside the country's 200-mile Exclusive Economic Zone (EEZ), following an announcement of a boosting of its presence to counter the 'threatening' presence of Chinese boats. &nbsp;

Responding to the exercises, China's foreign ministry on Monday said the Philippines should "stop actions complicating the situation and escalating disputes".&nbsp;

The Philippine defence ministry in a statement responded saying: "China has no business telling the Philippines what it can and cannot do."&nbsp;

The Philippines has taken a tough tone in recent weeks over the lingering presence of hundreds of Chinese boats in its EEZ, reviving tensions that had eased due to President Rodrigo Duterte's embrace of Beijing.&nbsp;

While the Philippines owed China a 'huge debt' of gratitude for many things, including free COVID-19 vaccines, Duterte said on Wednesday, he would not compromise on his country's sovereignty in the South China Sea. &nbsp;

"So China, let it be known, is a good friend and we don't want trouble with them, especially a war," Duterte said in a late-night address. "But there are things that are not really subject to a compromise ... I hope they will understand but I have the interest of my country also to protect." &nbsp;

On Wednesday, Foreign Secretary Teodoro Locsin ordered the filing of another diplomatic protest, one of more than a dozen recently, this time over China's rebuke.&nbsp;

"They can say what they want from the Chinese mainland; we continue to assert from our waters by right of international law what we won in The Hague. But we must not fail to protest," Locsin said in a Tweet. &nbsp;

The exercises took place near a Philippine-held island in the disputed Spratly archipelago and at the heavily contested Scarborough Shoal, which the tribunal in 2016 said was a traditional fishing spot for several countries.&nbsp;

Lorenzana said it was China that was complicating matters by illegally occupying reefs it turned into artificial islands.&nbsp;

"It is they who are encroaching and should desist and leave," he said.&nbsp;

China has no business telling the Philippines what it can or cannot do within its waters, Manila's defence ministry said on Wednesday, rejecting Beijing's opposition to its ongoing coastguard exercises.

China has no business telling the Philippines what it can or cannot do within its waters, Manila's defence ministry said on Wednesday, rejecting Beijing's opposition to its ongoing coastguard exercises. China claims almost the entire South China Sea, where about $3 trillion worth of ship-borne trade passes each year. In 2016, an arbitration tribunal in The Hague ruled that claim, which Beijing bases on its old maps, was inconsistent with international law. Philippines Defence Secretary Delfin Lorenzana told reporters that Beijing had "no authority or legal basis to prevent us from conducting these exercises" in the South China Sea because "their claims... have no basis". The Philippine coastguard and fisheries bureau started maritime exercises on Saturday inside the country's 200-mile Exclusive Economic Zone (EEZ), following an announcement of a boosting of its presence to counter the 'threatening' presence of Chinese boats. Responding to the exercises, China's foreign ministry on Monday said the Philippines should "stop actions complicating the situation and escalating disputes". The Philippine defence ministry in a statement responded saying: "China has no business telling the Philippines what it can and cannot do." The Philippines has taken a tough tone in recent weeks over the lingering presence of hundreds of Chinese boats in its EEZ, reviving tensions that had eased due to President Rodrigo Duterte's embrace of Beijing. While the Philippines owed China a 'huge debt' of gratitude for many things, including free COVID-19 vaccines, Duterte said on Wednesday, he would not compromise on his country's sovereignty in the South China Sea. "So China, let it be known, is a good friend and we don't want trouble with them, especially a war," Duterte said in a late-night address. "But there are things that are not really subject to a compromise ... I hope they will understand but I have the interest of my country also to protect." On Wednesday, Foreign Secretary Teodoro Locsin ordered the filing of another diplomatic protest, one of more than a dozen recently, this time over China's rebuke. "They can say what they want from the Chinese mainland; we continue to assert from our waters by right of international law what we won in The Hague. But we must not fail to protest," Locsin said in a Tweet. The exercises took place near a Philippine-held island in the disputed Spratly archipelago and at the heavily contested Scarborough Shoal, which the tribunal in 2016 said was a traditional fishing spot for several countries. Lorenzana said it was China that was complicating matters by illegally occupying reefs it turned into artificial islands. "It is they who are encroaching and should desist and leave," he said.

Philippines tells China to mind its own business over maritime drills 

Walmart-owned Flipkart said on Thursday that it will acquire Cleartrip, one of India's oldest online travel technology companies. Flipkart will acquire 100 per cent of Cleartrip's shareholding, it said in a statement.

Cleartrip will continue to operate as a separate brand. However, its operations will be acquired by Flipkart. All employees of Cleartrip will be retained.

The value of the deal has not been disclosed.

"The Flipkart Group is committed to transforming customer experiences through digital commerce. Cleartrip is synonymous with travel for many customers, and as we diversify and look at new areas of growth, this investment will help strengthen our wide range of offerings for customers," Flipkart Group CEO Kalyan Krishnamurthy said.

Also Read | <a href="https://www.wionews.com/technology/over-20-chinese-tech-giants-make-public-pact-to-abide-by-anti-monopoly-guidelines-377734">Over 20 Chinese tech giants make public pact to abide by anti-monopoly guidelines</a>

He added that the Cleartrip team, with its deep industry knowledge and technology capabilities, will help Flipkart Group provide deeper value and travel experiences for customers.

Stuart Crighton, CEO and co-founder of Cleartrip, said the company has been a pioneer in capitalising on technology to simplify the travel experience for our customers.

"This product-driven focus has enabled us to become the preferred travel partner of choice for consumers in a wide range of markets in the region," he added.

The deal closing will be subject to applicable regulatory approvals.

(With inputs from agencies)

Walmart-owned Flipkart said on Thursday that it will acquire Cleartrip, one of India's oldest online travel technology companies. Flipkart will acquire 100 per cent of Cleartrip's shareholding, it said in a statement.

Walmart-owned Flipkart said on Thursday that it will acquire Cleartrip, one of India's oldest online travel technology companies. Flipkart will acquire 100 per cent of Cleartrip's shareholding, it said in a statement. Cleartrip will continue to operate as a separate brand. However, its operations will be acquired by Flipkart. All employees of Cleartrip will be retained. The value of the deal has not been disclosed. "The Flipkart Group is committed to transforming customer experiences through digital commerce. Cleartrip is synonymous with travel for many customers, and as we diversify and look at new areas of growth, this investment will help strengthen our wide range of offerings for customers," Flipkart Group CEO Kalyan Krishnamurthy said. Also Read | Over 20 Chinese tech giants make public pact to abide by anti-monopoly guidelines He added that the Cleartrip team, with its deep industry knowledge and technology capabilities, will help Flipkart Group provide deeper value and travel experiences for customers. Stuart Crighton, CEO and co-founder of Cleartrip, said the company has been a pioneer in capitalising on technology to simplify the travel experience for our customers. "This product-driven focus has enabled us to become the preferred travel partner of choice for consumers in a wide range of markets in the region," he added. The deal closing will be subject to applicable regulatory approvals. (With inputs from agencies)

Walmart-owned Flipkart to acquire Cleartrip

HSBC has banned customers of its online share-trading platform from buying or moving into their accounts MicroStrategy Inc stock, a message seen by Reuters showed, calling it a "virtual currency product".

The bank will not facilitate the buying or exchange of products related to or referencing the performance of virtual currencies, the message to an HSBC InvestDirect client said. Bitcoin is the largest and best-known virtual currency.

MicroStrategy declined to comment. The U.S. business software firm is led by bitcoin proponent Michael Saylor and owns bitcoin worth billions of dollars.

While HSBC will allow the holding, sale and outgoing transfer of MicroStrategy shares, it will forbid new purchases or incoming transfers, said the message dated March 29.

"HSBC has no appetite for direct exposure to virtual currencies and limited appetite to facilitate products or securities that derive their value from VCs (virtual currencies)," HSBC said in a statement.

HSBC InvestDirect is available to customers in countries including Canada and Britain.

The bank said its policy towards cryptocurrencies had been in place since 2018 and is kept under review. It could not immediately say which countries the ban applied to.

The move comes amid a growing embrace of cryptocurrencies by large financial firms, companies and investors seeking yield in a world of ultra-low interest rates.

Goldman Sachs Group Inc said last month it would offer investments in bitcoin and other digital assets to its wealth management clients. Morgan Stanley has also started offering clients investments to the emerging asset class.

MicroStrategy has along with Tesla Inc and payments firm Square Inc become one of several publicly listed U.S. companies to buy large amounts of bitcoin for its treasury.

MicroStrategy said last week it owns around 91,579 bitcoins. Its holdings, worth around $5.5 billion according to a Reuters calculation, are equal to around 80% of its $6.8 billion market capitalisation.

HSBC has banned customers of its online share-trading platform from buying or moving into their accounts MicroStrategy Inc stock, a message seen by Reuters showed, calling it a "virtual currency product".

HSBC has banned customers of its online share-trading platform from buying or moving into their accounts MicroStrategy Inc stock, a message seen by Reuters showed, calling it a "virtual currency product". The bank will not facilitate the buying or exchange of products related to or referencing the performance of virtual currencies, the message to an HSBC InvestDirect client said. Bitcoin is the largest and best-known virtual currency. MicroStrategy declined to comment. The U.S. business software firm is led by bitcoin proponent Michael Saylor and owns bitcoin worth billions of dollars. While HSBC will allow the holding, sale and outgoing transfer of MicroStrategy shares, it will forbid new purchases or incoming transfers, said the message dated March 29. "HSBC has no appetite for direct exposure to virtual currencies and limited appetite to facilitate products or securities that derive their value from VCs (virtual currencies)," HSBC said in a statement. HSBC InvestDirect is available to customers in countries including Canada and Britain. The bank said its policy towards cryptocurrencies had been in place since 2018 and is kept under review. It could not immediately say which countries the ban applied to. The move comes amid a growing embrace of cryptocurrencies by large financial firms, companies and investors seeking yield in a world of ultra-low interest rates. Goldman Sachs Group Inc said last month it would offer investments in bitcoin and other digital assets to its wealth management clients. Morgan Stanley has also started offering clients investments to the emerging asset class. MicroStrategy has along with Tesla Inc and payments firm Square Inc become one of several publicly listed U.S. companies to buy large amounts of bitcoin for its treasury. MicroStrategy said last week it owns around 91,579 bitcoins. Its holdings, worth around $5.5 billion according to a Reuters calculation, are equal to around 80% of its $6.8 billion market capitalisation.

HSBC bans customers from buying bitcoin-backer MicroStrategy shares

Hawley’s bill tackles some of the same problems as an antitrust bill introduced by Democratic Senator Amy Klobuchar in February and contains some similar measures.

Republican senator wants to ban Big Tech from buying anything ever again

TAE Technologies, a California-based firm building technology to generate power from nuclear fusion, said on Thursday it had raised $280 million from new and existing investors, including Google and New Enterprise Associates.

The company, which did not disclose its latest valuation, was valued at $2.6 billion after raising funds in May 2019, according to data platform PitchBook. Including the latest funding, TAE has raised $880 million till date.

The fresh capital will mostly be deployed to commercialize TAE`s power management technology, which is used for electrical grid applications and faster charging of electric vehicles, the company said.

Founded in 1998 and formerly known as Tri Alpha Energy, TAE Technologies kept a low profile for years and operated in stealth mode. Over the years, it has drawn the interest of investors including Venrock, brokerage Charles Schwab and the Kuwait Investment Authority.

The company is also working on producing baseload power from the Hydrogen-Boron fuel cycle, which is an environment-friendly fuel source. Baseload power refers to the minimum amount of power that needs to be supplied to an electrical grid at any given point in time.

Prior to the latest funding round, TAE had raised about $130 million earlier this year.

TAE Technologies, a California-based firm building technology to generate power from nuclear fusion, said on Thursday it had raised $280 million from new and existing investors, including Google and New Enterprise Associates.

TAE Technologies, a California-based firm building technology to generate power from nuclear fusion, said on Thursday it had raised $280 million from new and existing investors, including Google and New Enterprise Associates. The company, which did not disclose its latest valuation, was valued at $2.6 billion after raising funds in May 2019, according to data platform PitchBook. Including the latest funding, TAE has raised $880 million till date. The fresh capital will mostly be deployed to commercialize TAE`s power management technology, which is used for electrical grid applications and faster charging of electric vehicles, the company said. Founded in 1998 and formerly known as Tri Alpha Energy, TAE Technologies kept a low profile for years and operated in stealth mode. Over the years, it has drawn the interest of investors including Venrock, brokerage Charles Schwab and the Kuwait Investment Authority. The company is also working on producing baseload power from the Hydrogen-Boron fuel cycle, which is an environment-friendly fuel source. Baseload power refers to the minimum amount of power that needs to be supplied to an electrical grid at any given point in time. Prior to the latest funding round, TAE had raised about $130 million earlier this year.

Google-backed nuclear energy firm TAE Technologies raises USD 280 million

Italy's business owners hold protests against Covid-19 restrictions

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