The UK has ordered an investigation into the proposed acquisition of the Telegraph newspaper by a vehicle backed by Abu Dhabi’s Sheikh Mansour Bin Zayed Al Nahyan, the latest twist in a battle to control the famed conservative media brand.

UK probe of Abu Dhabi-Backed Telegraph bid extends takeover saga

The Indian benchmark equity index Nifty 50 hit a fresh record high on Friday led by broad-based buying amid mixed global cues. The Nifty 50 rallied over 125 points to touch a new high of 20,258.45 in the early trade today, surpassing its earlier record high of 20,222.45 hit on September 15 this year.

India's Nifty 50 hits all-time high; posts best week in five months

In its latest move, the Biden administration has issued guidance that will limit Chinese content in batteries eligible for EV tax credits. The u.S. Will temporarily exempt some trace critical minerals from new strict rules. These rules would bar materials from China North Korea, Russia, and Iran - all of them deemed "Foreign entities of concern" or f-e-o-c.

Limit on Chinese content in batteries eligible for tax credits

A profound wealth transition is underway as billionaires worldwide embark on 'the great wealth transfer,' endowing their children with unprecedented trillions. For the first time in the report's nine-year history, new billionaires amassed more wealth from inheritance than from building businesses. In the past 12 months alone, 53 heirs inherited a staggering $150.8 billion, surpassing the $140.7 billion earned by 84 self-made billionaires. Over 1,000 billionaires are expected to pass down a jaw-dropping $5.2 trillion to their heirs in the next two to three decades.

More Billionaires transferring their wealth than ever

On Thursday, in a landmark event in the Chinese internet business, PDD, an eight-year-old upstart, momentarily surpassed Alibaba Group holding as China's most valued e-commerce firm.

Alibaba's wake-up call

Bankers warned against flaunting wealth amid ongoing crackdown. Watch the video to know more.

China's crackdown on bankers

A powerhouse surge in the third quarter has shattered India’s growth predictions. The nation's economy expanded at 7.6%, outpacing forecasts, fueled by a remarkable 13.9% boost in the manufacturing sector.

Analysts bullish on India's growth projection

Argentine president-elect Javier Milei said Louis Caputo will assume the position of minister of economics, tasked with rescuing the country from its severe economic crisis. After returning from a trip to the U.S., Milei, in a radio broadcast interview, revealed that Caputo was the new economy minister.

Luis Caputo tasked with tackling Argentina's economic crisis

The ongoing disruption at the panama canal has caused the cost of moving fuels like diesel across the atlantic to surge to an almost 16-month high. Drought conditions brought on by el nino have caused water levels to drop to record lows. That has hampered shipping along the crucial canal connects atlantic and pacific seas.

Shipping disruption at panama canal drives fuel costs up

We look at the most recent news on how regulators are coming for rule-breaking founders and bringing down the crypto kings. The world of cryptos can be exhilarating, especially for the few who have taken the world by storm. But now, a Bloomberg report shows, governments are becoming more empowered to crack down on improper behaviour by digital-asset influencers. That is reflected by the growing number of crypto founders facing civil and criminal fines globally.

Regulators chase rule-breaking founders

Chinese tech giant Baidu on Tuesday beat third-quarter revenue estimates and reaffirmed its commitment to invest in artificial intelligence to power future growth.

Decoded: Baidu's Q3 earnings

British finance minister, Jeremy Hunt, is gearing up to share some big news about taxes. He's ruling out tax cuts that might make prices go up, especially with inflation in the mix. However, Jeremy has some pressure on him from fellow conservatives. They're a bit nervous about the labour party leading in the polls and want tax cuts to level the playing field.

Focus on Britain's tax policy this week

Announcement after Central's Austrian partner Signa Group was placed in hands of restructuring expert.

Selfridges comes under full control of Thailand’s Central Group

A Reuters poll predicts that India's consumer price inflation dipped to a four-month low of 4.80% in October, moving closer to the Reserve Bank of India's coveted 4% medium-term target. A key factor contributing to this trend is the moderation in volatile food prices, which constitute approximately half of the consumer price index basket.

Economists decode India's inflation scenario

Nintendo, the iconic Kyoto-based company, is on a triumphant roll in 2023. Thanks to a lineup of blockbuster titles, including 'The Legend of Zelda: tears of the kingdom' and 'super mario bros. Wonder,' Nintendo's operating profit forecast has been raised by 11%.

Nintendo's strong 2023 forecast

The maker of the popular video game Fortnite has begun its legal battle with Google in a San Francisco court. Watch the video to know more.

Google and Epic Games face off at trial over Play Store rules

Shipping giant Maersk is all set to cut at least 10,000 jobs in the face of overcapacity, rising costs and weaker prices. The decision comes after the company reported a steep drop in profit and revenue in the July-september quarter.

Sam Bankman-Fried found guilty on all seven criminal fraud counts

The 2022 survey found that British people expressed the most positive views on immigration since the survey began in 2001, with 34% agreeing the country should allow many immigrants ‘of a different race or ethnic group to the majority’ into the country in comparison to 8% in 2002.

Most British people hold positive view of immigration, survey reveals

A prosecutor began cross-examining Sam Bankman-Fried at a New York City trial on Monday, attacking his credibility by highlighting public statements he made before and after the FTX cryptocurrency exchange he founded filed for bankruptcy late last year when it could no longer process billions of dollars in withdrawals.

Unveiling the FTX Crypto trial

Flexible workspace provider WeWork reportedly plans to file for bankruptcy as early as next week. This development comes amid its struggles with massive debt & hefty losses. Shares of the company fell 32% in extended trading after the Wall Street Journal first reported the news. They have fallen roughly 96% this year.

Reports: We Work likely to file for bankruptcy by next week

Is the India-middle East economic corridor under threat due to the ongoing Israel-Hamas war? U.S. President Joe Biden's recent statement sparked speculations that Hamas' October 7 attack could be linked to it. But the white house has now issued a clarification on his statement. We spoke to foreign policy expert Hasan T. Alhasan from Bahrain for more perspective.

India's economic corridor hits roadblock

The transformative potential of cryptocurrency goes beyond financial investments. This digital currency has attracted the interest of terrorist groups, who are now employing it as a means to finance their illicit activities. This report provides in-depth insights into this alarming phenomenon.

Crypto's role in terrorist financing

India's booming economy may soon touch another Milestone, which will see the country surpass Japan to become Asia's second-largest economy.

Decoding India's growing economic stature

China helped Asian stocks rise from 11-month lows on Wednesday as investors cheered the approval of a trillion-yuan sovereign issue as a harbinger of stimulus, while the Aussie dollar jumped after hotter-than-expected inflation lifted rate forecasts.

Asian stocks recover on China spending plans; inflation jolts Aussie

Exxon Mobil edges closer to sealing a monumental $60 billion deal with pioneer natural resources. This potential acquisition could mark a strategic pivot for Exxon. As the market reacted, Pioneer Natural Resources' stock saw a remarkable 11% surge to 238.67 dollars on Friday.

Exxon's $60 bn pioneer acquisition

There are two major stumbling blocks to the African continent's economic development. They are South Africa and Nigeria. That's what the World Bank's Africa Pulse report, a semi-annual report for the area, has said. The World Bank has predicted that economic growth in sub-Saharan Africa will fall to 2.5% this year from 3.6% in 2022.

World Bank on Africa's economy

The ousting of speaker McCarthy, an unprecedented event, further highlights the political polarization. The potential downgrade by Moody's could lead to increased treasury yields, raising the cost of borrowing and posing risks to the US Economy, including the possibility of a recession.

How congress tussle affects US Debt

U.S. benchmark 10-year yields hit 4.688% on Thursday, their highest since 2007. The dollar index, which tracks the unit against six other majors, was down 0.40% on the day at 106.21, but is on track for an 11th straight week of gains, and just off its 10-month high of 106.84 hit on Wednesday.

Dollar eases from 10-month high but on track for weekly gain

India’s gross domestic product (GDP) is expected to grow 6.2% in the fiscal year ending in March 2024, being the fastest-growing major economy this fiscal year, according to a Reuters poll.

Tracing India’s growth trajectory

The Indian government will defer an import license requirement for laptops and tablets. This is a policy u-turn after industry and the U.S. Government complained about the move, which could hit Apple, Samsung, and others. An official told Reuters that the plan will be delayed by a year, after which the government will consider whether to implement a licensing regime or not.

Import licensing for electronics deferred

The Securities and Exchange Commission on Friday announced settlements with Goldman Sachs Group and Citadel Securities, in cases relating to mislabeling of millions of deals. Goldman agreed to pay a 6 million fee for misreporting at least 163 million trades over ten years. Citadel Securities was fined 7 million dollars when it was revealed that short sales had been mislabeled as longs due to a coding mistake.

Financial giants face US Regulator's heat

businessnews

Businessnews, News on Businessnews, stories on Businessnews, articles on Businessnews, Businessnews stories at Wion, Businessnews news, Businessnews latest news