UK Households Are Reluctant To Spend On Big-ticket Items Before Christmas, With A Weak Economic Outlook Weighing On Confidence. Despite A Small Rise In Consumer Sentiment, Concerns Over Jobs, Energy Costs, And Mortgages Dampen Spending. Retailers Face A Tough Holiday Season.

British Consumers Remained Cautious Ahead Of Winter Holidays

UK Households Are Reluctant To Spend On Big-ticket Items Before Christmas, With A Weak Economic Outlook Weighing On Confidence. Despite A Small Rise In Consumer Sentiment, Concerns Over Jobs, Energy Costs, And Mortgages Dampen Spending. Retailers Face A Tough Holiday Season.



An important step in apple's ongoing effort to broaden its business beyond china will be the beginning of production of its air pods wireless headphones in India early next year.

Apple To Begin Producing Air pods In India For The First Time

The predicted increase in demand for Broadcom's artificial intelligence processors led to a first-ever leap to a one trillion-dollar market capitalisation for the tech firm. 
 
Broadcom is the semiconductor supplier to Apple and other major tech companies. The company predicts sales of AI devices will increase by 65 per cent, which is significantly higher than the 10 per cent growth in overall semiconductor sales. 
 
Additionally, by fiscal 2027, the chipmaker anticipated that the addressable market for data centre operators' AI components it produces might reach 90 billion dollars. The semiconductor company is aiming to cash on the AI investment frenzy, much like Nvidia. 
 
Chief executive officer Hock Tan announced his business has secured clients from the largest data centre operators, known as hyperscalers. On Friday, the stock price increased by as much as 21 per cent, marking its largest share-price surge since March 2020. 
 
The hope for AI has attracted investors, who have flocked to Broadcom's shares this year. Demand for processors and networking components drove AI sales growth of 220 per cent over the year, according to Tan. 
 
Consistent with projections, total sales for the period ending in January will come at 14.6 billion dollars.

(With inputs from the agencies)

The predicted increase in demand for Broadcom's artificial intelligence processors led to a first-ever leap to a one trillion-dollar market capitalisation for the tech firm.

The predicted increase in demand for Broadcom's artificial intelligence processors led to a first-ever leap to a one trillion-dollar market capitalisation for the tech firm. Broadcom is the semiconductor supplier to Apple and other major tech companies. The company predicts sales of AI devices will increase by 65 per cent, which is significantly higher than the 10 per cent growth in overall semiconductor sales. Additionally, by fiscal 2027, the chipmaker anticipated that the addressable market for data centre operators' AI components it produces might reach 90 billion dollars. The semiconductor company is aiming to cash on the AI investment frenzy, much like Nvidia. Chief executive officer Hock Tan announced his business has secured clients from the largest data centre operators, known as hyperscalers. On Friday, the stock price increased by as much as 21 per cent, marking its largest share-price surge since March 2020. The hope for AI has attracted investors, who have flocked to Broadcom's shares this year. Demand for processors and networking components drove AI sales growth of 220 per cent over the year, according to Tan. Consistent with projections, total sales for the period ending in January will come at 14.6 billion dollars. (With inputs from the agencies)

Broadcom sees massive opportunity over the next three years

Deflation in China is becoming increasingly difficult to reverse. If the world's second-biggest economy's prices continue to decrease for a seventh straight quarter, they will tie the record deflationary stretch set during the late 1990s Asian financial crisis.

What China's Persistent Deflation Means For The World

Sri Lanka's private creditors back 12.6 billion dollar debt restructuring plan. The restructuring of Sri Lanka's foreign debts is a crucial step in the country's effort to get out of its protracted default.

Sri Lanka Bondholders Back $12.6 Billion Debt Restructuring

As wall street braced for next week's federal reserve meeting, the leaders of the year — large technology companies — held onto their gains as u.S. Treasuries sank.

Wall Street Readies for Next Week's Federal Reserve Meeting

India's retail inflation surged to a 14-month high of 6.21% in October 2024, up from 5.49% in September. This sharp rise in inflation is largely driven by food prices, which saw a steep jump. The latest data comes as a stark reminder of the financial pressure many are facing, especially amidst growing concerns over rising costs and a sluggish economy. Watch in for more details!

India's Inflation Eases In November

London's IPO market is facing its worst slump in years. fundraising from UK initial public offerings has dropped 9% this year to just $1 billion. This decline has pushed the UK to 20th place among global ipo venues, according to Bloomberg data. Mainland China and Australia saw minimal movement in their stock markets.

London’s IPO Market Hits New Lows As Global Rivals Surge | WION Business Watch | World News

Asian stock markets gained echoing the advance on wall street overnight, and currency markets started Thursday with a sense of relative calm. The trading pattern early on Thursday comes as investors process the fallout from the recent political unrest in France and South Korea. Watch in for more details!

Asian Stocks Mirror Wall Street's Advance Asian Stocks Mirror Wall Street's Advance

General Motors will have to take more than 5 billion dollars in charges and writedowns related to its troubled operations in China. This comes as GM tries to save its once-profitable company in the biggest vehicle market in the world. Watch in for more details!

GM Sees $5 Billion Hit From China Business Revamp

Alex Mashinsky, the founder of the defunct cryptocurrency lender Celsius Network, pleaded guilty on Tuesday to deceiving investors about the company’s financial health. Prosecutors alleged that Mashinsky misrepresented the firm's stability and diverted customer funds to artificially inflate the value of Celsius' proprietary digital token. Watch to know more!

Celsius Founder Alex Mashinsky Pleads Guilty To US Fraud Charges | World News | WION

The coffee culture in India is undergoing a significant transformation, particularly in smaller cities where it was once overshadowed by tea. The rising demand for specialty coffee, particularly after the pandemic, reflects a shift in consumer preferences. Indian consumers, especially the youth, are increasingly moving towards a more sophisticated coffee experience, one that emphasizes quality over convenience. Watch in for more details!

Demand For Coffee Rises In Indian Cities

Canada's Competition Bureau has filed a lawsuit against Alphabet's Google, alleging that the tech giant engaged in anti-competitive behaviour in the online advertising sector.

The application filed by the Bureau before the Competition Tribunal is seeking a court order compelling Google to divest two of its key ad technology tools. The watchdog is also seeking a penalty to ensure Google complies with Canada's competition laws.

Google responded to this claim, saying that the suit "overlooks the incredibly competitive nature of the ad-buying market, with a large number of willing buyers and sellers."

According to Google, "our ad tech tools help websites and apps pay for their content, and help businesses of all sizes connect with new customers." Google VP of Global Ads Dan Taylor said in response to the complaint that he and the company look forward to the opportunity to explain its position in court.

The Competition Bureau initiated investigations into Google in 2020. The agency of competition probed whether or not the company had ever indulged in anti-competitive practices in the advertisement business line online.

The research expanded early this year as it went beyond Google's merely search business to its advertisement technology services. The agency stated that Google has controlled the majority share of the nation's ad tech market with the aid of its allegedly anticompetitive methods, said the Bureau.

This lawsuit comes in tandem with similar antitrust initiatives launched by the US Department of Justice that alleged Google is monopolising the market for publisher ad servers and advertiser ad networks.

Google defended its activities and said the US case was selective as it focused only on one portion of the online advertisement business while ignoring competition in other sectors.

It said the decisions made for its business are legitimate, and that there is competition in the marketplace.

Reuters earlier this year reported Google trying to end an antitrust investigation in the European Union by offering to sell an ad exchange platform. It said European publishers rejected this offer as insufficient to remedy the issues raised by a competition probe.

(With inputs from Reuters)

Canada's Competition Bureau has filed a lawsuit against Alphabet's Google, alleging that the tech giant engaged in anti-competitive behaviour in the online advertising sector.

Canada's Competition Bureau has filed a lawsuit against Alphabet's Google, alleging that the tech giant engaged in anti-competitive behaviour in the online advertising sector. The application filed by the Bureau before the Competition Tribunal is seeking a court order compelling Google to divest two of its key ad technology tools. The watchdog is also seeking a penalty to ensure Google complies with Canada's competition laws. Google responded to this claim, saying that the suit "overlooks the incredibly competitive nature of the ad-buying market, with a large number of willing buyers and sellers." According to Google, "our ad tech tools help websites and apps pay for their content, and help businesses of all sizes connect with new customers." Google VP of Global Ads Dan Taylor said in response to the complaint that he and the company look forward to the opportunity to explain its position in court. The Competition Bureau initiated investigations into Google in 2020. The agency of competition probed whether or not the company had ever indulged in anti-competitive practices in the advertisement business line online. The research expanded early this year as it went beyond Google's merely search business to its advertisement technology services. The agency stated that Google has controlled the majority share of the nation's ad tech market with the aid of its allegedly anticompetitive methods, said the Bureau. This lawsuit comes in tandem with similar antitrust initiatives launched by the US Department of Justice that alleged Google is monopolising the market for publisher ad servers and advertiser ad networks. Google defended its activities and said the US case was selective as it focused only on one portion of the online advertisement business while ignoring competition in other sectors. It said the decisions made for its business are legitimate, and that there is competition in the marketplace. Reuters earlier this year reported Google trying to end an antitrust investigation in the European Union by offering to sell an ad exchange platform. It said European publishers rejected this offer as insufficient to remedy the issues raised by a competition probe. (With inputs from Reuters)

Canada sues Google over alleged anti-competitive practices in ads

The US Federal Trade Commission has opened a sweeping antitrust probe of Microsoft, examining the technology giant's software licensing and cloud computing business, said people familiar with the matter.

It approved the probe days before the expected exit of Chairman Lina Khan, which some anticipate will lead to the FTC chair being replaced by a Republican under a new administration that could change the way the investigation plays out.

The FTC is investigating allegations that Microsoft is using its market power in the productivity software space to enforce restrictive licensing terms, particularly designed to prevent customers from migrating data from its Azure cloud service to competing platforms.

This issue was highlighted earlier this month, with competitors and other industry players raising concerns over the company's practices.

Along with scrutinising Microsoft's cloud services, the FTC is looking into the company's cybersecurity and AI products. The software giant has faced criticism on practices that critics argue lock customers into its ecosystem, particularly for Azure and the integration of AI tools into Office and Outlook.

NetChoice, a lobbying group that represents tech giants like Amazon and Google, attacked Microsoft's licensing practices, pointing out the company's dual dominance in both productivity software and operating systems. "The scale and consequences of its licensing decisions are extraordinary," the group said.

Google has raised similar concerns with the European Commission lately, accusing Microsoft of excessive fees and restrictive security updates for customers running Windows Server on rival cloud platforms. According to Google, such practices by Microsoft resulted in a 400 per cent price markup and delayed, limited security patches for these customers.

The investigation by the FTC spans wide-ranging practices, as the agency requires detailed information from Microsoft. This is following previous scrutiny of the company's involvement in artificial intelligence, such as the $650 million acquisition of AI startup Inflection AI.

The FTC had already investigated competition in the cloud computing market and the relationship of Microsoft with OpenAI, where it raised concerns about how the company might impact competition in the emerging AI sector.

While Microsoft has traditionally been less affected by US antitrust enforcement compared to other Big Tech firms, such as Facebook owner Meta Platforms, Apple, and Amazon, it has experienced legal challenges in the past.

Alphabet's Google is also currently involved in two major anti-competitive behaviour lawsuits, one of which resulted in a judge ruling the company illegally stifled competition in the online search engine market.

The timing of the FTC's investigation raises questions about the future of antitrust enforcement under the next US administration. "Changes in administration can lead to evolving enforcement priorities and shifts in how aggressively certain types of conduct are scrutinised," said Andre Barlow, an attorney at Doyle Barlow &amp; Mazard. It is unclear whether a change in leadership under President-elect Donald Trump will ease the scrutiny on Big Tech firms.

Despite these, Microsoft has previously benefited from some Trump administration policies. For instance, in 2019, the Pentagon awarded Microsoft a $10 billion cloud computing contract. The award was challenged by Amazon, which accused Trump of influencing the award process.

(With inputs from agencies)<o:p></o:p>

The US Federal Trade Commission has opened a sweeping antitrust probe of Microsoft, examining the technology giant's software licensing and cloud computing business, said people familiar with the matter.

The US Federal Trade Commission has opened a sweeping antitrust probe of Microsoft, examining the technology giant's software licensing and cloud computing business, said people familiar with the matter. It approved the probe days before the expected exit of Chairman Lina Khan, which some anticipate will lead to the FTC chair being replaced by a Republican under a new administration that could change the way the investigation plays out. The FTC is investigating allegations that Microsoft is using its market power in the productivity software space to enforce restrictive licensing terms, particularly designed to prevent customers from migrating data from its Azure cloud service to competing platforms. This issue was highlighted earlier this month, with competitors and other industry players raising concerns over the company's practices. Along with scrutinising Microsoft's cloud services, the FTC is looking into the company's cybersecurity and AI products. The software giant has faced criticism on practices that critics argue lock customers into its ecosystem, particularly for Azure and the integration of AI tools into Office and Outlook. NetChoice, a lobbying group that represents tech giants like Amazon and Google, attacked Microsoft's licensing practices, pointing out the company's dual dominance in both productivity software and operating systems. "The scale and consequences of its licensing decisions are extraordinary," the group said. Google has raised similar concerns with the European Commission lately, accusing Microsoft of excessive fees and restrictive security updates for customers running Windows Server on rival cloud platforms. According to Google, such practices by Microsoft resulted in a 400 per cent price markup and delayed, limited security patches for these customers. The investigation by the FTC spans wide-ranging practices, as the agency requires detailed information from Microsoft. This is following previous scrutiny of the company's involvement in artificial intelligence, such as the $650 million acquisition of AI startup Inflection AI. The FTC had already investigated competition in the cloud computing market and the relationship of Microsoft with OpenAI, where it raised concerns about how the company might impact competition in the emerging AI sector. While Microsoft has traditionally been less affected by US antitrust enforcement compared to other Big Tech firms, such as Facebook owner Meta Platforms, Apple, and Amazon, it has experienced legal challenges in the past. Alphabet's Google is also currently involved in two major anti-competitive behaviour lawsuits, one of which resulted in a judge ruling the company illegally stifled competition in the online search engine market. The timing of the FTC's investigation raises questions about the future of antitrust enforcement under the next US administration. "Changes in administration can lead to evolving enforcement priorities and shifts in how aggressively certain types of conduct are scrutinised," said Andre Barlow, an attorney at Doyle Barlow & Mazard. It is unclear whether a change in leadership under President-elect Donald Trump will ease the scrutiny on Big Tech firms. Despite these, Microsoft has previously benefited from some Trump administration policies. For instance, in 2019, the Pentagon awarded Microsoft a $10 billion cloud computing contract. The award was challenged by Amazon, which accused Trump of influencing the award process. (With inputs from agencies)

FTC opens antitrust investigation against Microsoft's business practice

The US Federal Trade Commission (FTC) is investigating Uber's flagship subscription service, Uber One, amid complaints from customers that they were signed up to the program without their consent and that it is also tough to cancel. The probe started earlier in 2024.

Uber&nbsp;One discounts rides and food deliveries for a yearly membership fee. The company claims 25 million subscribers. Uber said the FTC has reached out to them about the program and that they are cooperating with the review.

A spokesperson for Uber, Noah Edwardsen, said in a statement that cancellations of Uber One can be easily done within the app and most cancellations take less than 20 seconds. The FTC has not commented on the investigation.

The FTC enforces consumer protection laws and has recently sued companies like Amazon and Adobe for allegedly making it difficult to cancel subscriptions.

The agency often seeks settlements with monetary penalties because winning fines in court can be challenging. The FTC recently passed a rule requiring businesses to simplify subscription cancellation processes, but this rule is currently being contested in court.

As reported by Bloomberg, enforcement agencies sometimes try to finalise the investigations before a new administration begins.

In this case, the FTC reportedly sent Uber a proposed settlement just days after the November election. Uber's lawyers said the FTC's settlement offer demanded excessive money and that the agency was rushing the negotiations before the new president's inauguration.

Uber's attorneys also claimed that the staff of the FTC rejected the counteroffer and accused them of trying to close the case before the change in administration.

Holyoak, a Republican commissioner at the FTC, complained about the charges and asked the FTC staff to provide her with information on all cases that have reached the final stages.

Holyoak is reported to be one of three candidates being considered for the FTC Chair position along with another Republican commissioner and multiple outside candidates. The new president has not yet nominated another head for FTC.

(With inputs from Bloomberg)

The US Federal Trade Commission (FTC) is investigating Uber's flagship subscription service, Uber One, amid complaints from customers that they were signed up to the program without their consent and that it is also tough to cancel.

The US Federal Trade Commission (FTC) is investigating Uber's flagship subscription service, Uber One, amid complaints from customers that they were signed up to the program without their consent and that it is also tough to cancel. The probe started earlier in 2024. Uber One discounts rides and food deliveries for a yearly membership fee. The company claims 25 million subscribers. Uber said the FTC has reached out to them about the program and that they are cooperating with the review. A spokesperson for Uber, Noah Edwardsen, said in a statement that cancellations of Uber One can be easily done within the app and most cancellations take less than 20 seconds. The FTC has not commented on the investigation. The FTC enforces consumer protection laws and has recently sued companies like Amazon and Adobe for allegedly making it difficult to cancel subscriptions. The agency often seeks settlements with monetary penalties because winning fines in court can be challenging. The FTC recently passed a rule requiring businesses to simplify subscription cancellation processes, but this rule is currently being contested in court. As reported by Bloomberg, enforcement agencies sometimes try to finalise the investigations before a new administration begins. In this case, the FTC reportedly sent Uber a proposed settlement just days after the November election. Uber's lawyers said the FTC's settlement offer demanded excessive money and that the agency was rushing the negotiations before the new president's inauguration. Uber's attorneys also claimed that the staff of the FTC rejected the counteroffer and accused them of trying to close the case before the change in administration. Holyoak, a Republican commissioner at the FTC, complained about the charges and asked the FTC staff to provide her with information on all cases that have reached the final stages. Holyoak is reported to be one of three candidates being considered for the FTC Chair position along with another Republican commissioner and multiple outside candidates. The new president has not yet nominated another head for FTC. (With inputs from Bloomberg)

Uber under fire: FTC probes subscription service complaints

JPMorgan's annual outlook warns that emerging markets face a turbulent 2025, with significant uncertainty stemming from policy shifts in the United States and ongoing challenges in China. the bank predicts that growth across emerging markets will slow to 3.4% in 2025, down from 4.1% this year.

JPMorgan Warns Of Tough Year Ahead For Emerging Markets In 2025 | World Business Watch | WION

For decades, pets have been cherished members of the family, offering companionship, love, and joy. Over the past decade, the pet industry has boomed, fueled by the pandemic’s surge in pet adoptions. But as we move into a post-pandemic world, the landscape of pet care is evolving—shaped by economic shifts, changing consumer priorities, and a growing desire for premium, high-quality pet products. Watch in for more details!

Pet Industry Shifts Towards Quality Over Quantity

Milan’s Via Monte Napoleone, a mere 350 meters long, has just claimed the title of the world’s most expensive shopping street, surpassing heavyweights like New York's fifth avenue and Paris’ champs-élysées. this iconic Milanese thoroughfare, home to fashion powerhouses like Fendi, Valentino, and Gucci, is where high-end retail meets Italian sophistication at its peak.

Milan's Via Monte Napoleone Tops Luxury Retail  | World Business Watch | World News | WION

Bangladesh's Review Committee has been tasked with investigating power deals between the country and the Adani Group following an indictment against the Indian conglomerate. The inquiry will focus on the transparency and legality of the deals, amid growing concerns over corruption and financial misconduct.

Adani Indictment: Bangladesh Review Committee To Investigate Power Deals With Adani Group

The Congress party has called for a court-monitored investigation into billionaire Gautam Adani and his business dealings, following allegations of financial irregularities and corruption. The party demands accountability and transparency, urging legal action to ensure a fair inquiry into the Adani group's activities.

Adani Indictment: Congress Demands Court-Monitored Investigation Against Adani

Japan’s economic recovery faces new challenges as service-sector sentiment declines and corporate bankruptcies rise. These developments raise doubts about the bank of Japan's ability to meet its 2% inflation target, fueled by robust domestic demand and higher wages. Take a look at this next report for more…Watch in for more details!

Labour Woes & Rising Bankruptcies Threaten Japan’s Growth

China is poised to set a new record for its trade surplus this year. That puts Beijing further at odds with some of the world's largest countries. The near-record trade surplus also heightens the global trade imbalance and likely provoke president-elect trump further. Watch in for more details!

China On Track For A Record Trade Surplus This Year

As a flurry of speculative bets was spurred by optimism about the digital asset industry's potential under president-elect Donald Trump, many smaller cryptocurrencies have surpassed the market leader, bitcoin. This comes even as bitcoin has surged over 30% from under $70,000 to near $90,000 in a week. Watch in for more details!

Dogecoin Outperforms Record-Breaking Bitcoin

Pro-cryptoTrump's win boosted bitcoin to a fresh record of over 75,000 dollars. And if the bets in the futures market are anything to go by, the top token's record-breaking run has just about started. Gold, on the other hand, crashed in a knee-jerk reaction to 'Trump 2.0' as the dollar marked its best run since march 2020. However, the yellow metal's appeal is still at play, with geopolitical tensions and Trump's trade and foreign policy expected to drive risk-off bets.

Bitcoin's 'trump' Card Suggests New Milestones Beyond Latest Highs

Afghan pomegranate farmers in Kandahar are facing significant financial hardship as Pakistan increases tariffs on fresh fruit. In 2024, the tax on a ton of pomegranates surged to $360 from $68 last year.

Afghan Pomegranate Exports Drop as Pakistan Increases Tariffs

The Indian rupee has fallen significantly this year, hitting several record lows repeatedly in recent weeks. This comes even as the prospect for the economy remains broadly bright and bets on India's growth story have risen.

Why Is The Rupee At Record Low Despite Strong Economic Growth?

UAE’s energy giant Adnoc is taking a bold step in the energy sector by implementing highly autonomous agentic Ai technology. CEO Sultan Al Jaber announced this at an industry event in Abu Dhabi.

Adnoc Partners With Microsoft to Launch Autonomous Ai in Energy

India’s oil minister, Hardeep Singh Puri, has urged oil producers and consumers to come together to stabilise global oil prices. This comes as the world’s third-largest oil consumer is heavily dependent on overseas oil purchases for more than 80% of its supply.

India Seeks Producer-consumer Talks to Curb Oil Price Surge

Germany’s hiring outlook has fallen to its lowest in four years, a stark sign of Europe’s economic challenges. According to the IFO institute’s October report, the employment barometer dipped, indicating weakened hiring sentiment across German industries.

German Hiring Plans Hit 4-year Low

The U.S. Election day is almost here, and investors from stocks to cryptos are bracing for extreme volatility. Investors are expected to watch the vote margins and tweak their bets through the election night.

Investors From Stocks To Crypto Brace For U.S. Election Volatility

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