The latest report by the International Monetary Fund reveals a significant shift in the global economic landscape. Emerging market economies within the G20, including India & China, are now playing a pivotal role in shaping global growth. Traditionally seen as recipients of economic shocks, these nations have become active contributors, with their domestic crises reverberating across borders.

IMF: Emerging markets now drive global economic shocks

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

Federal Reserve holds rates steady amid high projections for 2024 rate cuts&nbsp;

The US Federal Reserve has decided to maintain its benchmark interest rates at 5.25-5.50 per cent for the fifth consecutive meeting, according to an announcement made after the Federal Open Market Committee (FOMC) meeting on March 20.

<a href="https://www.wionews.com/business-economy/federal-reserve-holds-rates-steady-amid-high-projections-for-2024-rate-cuts-702516 ">Read more here</a>

US Justice Department set to sue Apple for alleged antitrust violations&nbsp;

Apple is facing impending legal action from the US Justice Department, which is expected to file a lawsuit as early as Thursday.

<a href="https://www.wionews.com/business-economy/us-justice-department-set-to-sue-apple-for-alleged-antitrust-violations-702523 ">Read more here &nbsp;</a>

Reddit IPO hits high note, raises $748 million with top-end pricing: Report&nbsp;

In a significant development for the technology IPO market, social media giant Reddit has priced its initial public offering (IPO) at the pinnacle of its indicated range, raising a staggering $748 million.

<a href="https://www.wionews.com/business-economy/reddit-ipo-hits-high-note-raises-748-million-with-top-end-pricing-report-702528 ">Read more here &nbsp;</a>

India's Akasa Air stays upbeat on Boeing 737 MAX delivery schedule despite production concerns&nbsp;

Amid escalating concerns over Boeing's production schedule for its 737 aircraft series following a mid-air incident earlier this year, India's Akasa Air remains optimistic about the timely delivery of its ordered Boeing 737 MAX jets, affirmed the airline's CEO.

<a href="https://www.wionews.com/business-economy/indias-akasa-air-stays-upbeat-on-boeing-737-max-delivery-schedule-despite-production-concerns-702533 ">Read more here &nbsp;</a>

Intel embarks on $100 bn investment in US chip manufacturing expansion&nbsp;

Intel Corporation has announced a $100 billion spending initiative across four states in the United States, aimed at strengthening and expanding its chip manufacturing capabilities.

<a href="https://www.wionews.com/business-economy/intel-embarks-on-100-bn-investment-in-us-chip-manufacturing-expansion-702537 ">Read more here</a>

Hindenburg Research accuses Equinix of inflating profit metric,&nbsp;misleading investors&nbsp;

Hindenburg Research, renowned for its critical analyses of various companies, has set its sights on Equinix, an $80 billion data centre provider, accusing the company of presenting shareholders with an "AI pipe dream" while allegedly manipulating key metrics to enhance profitability.

<a href="https://www.wionews.com/business-economy/hindenburg-research-accuses-equinix-of-inflating-profit-metric-amid-allegations-of-misleading-investors-702542 ">Read more here</a>

Luxury giant Hermes faces antitrust lawsuit over exclusive Birkin bag sales&nbsp;

French luxury powerhouse Hermes finds itself embroiled in legal turmoil as it faces an antitrust class action lawsuit in California, centring on allegations of restricting the sale of its coveted Birkin handbags to customers deemed to have "sufficient purchase history" with the brand.

<a href="https://www.wionews.com/business-economy/luxury-giant-hermes-faces-antitrust-lawsuit-over-exclusive-birkin-bag-sales-702561 ">Read more here</a>

Chipotle shares surge beyond $3,000 following historic stock split announcement&nbsp;

Chipotle Mexican Grill's shares soared beyond the $3,000 mark for the first time on Wednesday, closing 3.5 per cent higher after the company's board of directors approved a monumental 50-for-1 stock split.

<a href="https://www.wionews.com/business-economy/chipotle-shares-surge-beyond-3000-following-historic-stock-split-announcement-702579">Read more here</a>

China's Deputy Central Bank Governor signals further monetary easing measures

Xuan Changneng, deputy governor of the People's Bank of China (PBOC), has emphasised the ample room for manoeuvring within China's monetary policy.

<a href="https://www.wionews.com/business-economy/chinas-deputy-central-bank-governor-signals-further-monetary-easing-measures-702584">Read more here</a>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Federal Reserve holds rates steady amid high projections for 2024 rate cuts The US Federal Reserve has decided to maintain its benchmark interest rates at 5.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Federal Reserve holds rates steady amid high projections for 2024 rate cuts The US Federal Reserve has decided to maintain its benchmark interest rates at 5.25-5.50 per cent for the fifth consecutive meeting, according to an announcement made after the Federal Open Market Committee (FOMC) meeting on March 20. Read more here US Justice Department set to sue Apple for alleged antitrust violations Apple is facing impending legal action from the US Justice Department, which is expected to file a lawsuit as early as Thursday. Read more here Reddit IPO hits high note, raises $748 million with top-end pricing: Report In a significant development for the technology IPO market, social media giant Reddit has priced its initial public offering (IPO) at the pinnacle of its indicated range, raising a staggering $748 million. Read more here India's Akasa Air stays upbeat on Boeing 737 MAX delivery schedule despite production concerns Amid escalating concerns over Boeing's production schedule for its 737 aircraft series following a mid-air incident earlier this year, India's Akasa Air remains optimistic about the timely delivery of its ordered Boeing 737 MAX jets, affirmed the airline's CEO. Read more here Intel embarks on $100 bn investment in US chip manufacturing expansion Intel Corporation has announced a $100 billion spending initiative across four states in the United States, aimed at strengthening and expanding its chip manufacturing capabilities. Read more here Hindenburg Research accuses Equinix of inflating profit metric, misleading investors Hindenburg Research, renowned for its critical analyses of various companies, has set its sights on Equinix, an $80 billion data centre provider, accusing the company of presenting shareholders with an "AI pipe dream" while allegedly manipulating key metrics to enhance profitability. Read more here Luxury giant Hermes faces antitrust lawsuit over exclusive Birkin bag sales French luxury powerhouse Hermes finds itself embroiled in legal turmoil as it faces an antitrust class action lawsuit in California, centring on allegations of restricting the sale of its coveted Birkin handbags to customers deemed to have "sufficient purchase history" with the brand. Read more here Chipotle shares surge beyond $3,000 following historic stock split announcement Chipotle Mexican Grill's shares soared beyond the $3,000 mark for the first time on Wednesday, closing 3.5 per cent higher after the company's board of directors approved a monumental 50-for-1 stock split. Read more here China's Deputy Central Bank Governor signals further monetary easing measures Xuan Changneng, deputy governor of the People's Bank of China (PBOC), has emphasised the ample room for manoeuvring within China's monetary policy. Read more here

WION Business Wrap | The top stories from the world of business & economy

Corporate salary hike in India set to average 9 pc in 2024: Deloitte report

Deloitte India's latest survey forecasts an average salary increase of 9 per cent for corporate executives in India in 2024, slightly lower than the 9.2 per cent projected last year.

<a href="https://www.wionews.com/business-economy/corporate-salary-hike-in-india-set-to-average-9-pc-in-2024-deloitte-reports-700286 ">Read more here</a>

Hedge fund manager faces arrest over alleged misappropriation of $533 mn from Byju's&nbsp;

A US bankruptcy judge ordered the arrest of hedge fund manager William Cameron Morton for reportedly aiding Indian ed-tech startup Byju's in concealing $533 million from its creditors.

<a href="https://www.wionews.com/business-economy/hedge-fund-manager-faces-arrest-over-alleged-misappropriation-of-533-mn-from-byjus-700292 ">Read more here</a>

Paytm secures third-party app license to sustain UPI payments: Report&nbsp;

Indian digital payments giant Paytm, also known as One 97 Communications, has been granted a third-party application provider license by India's payments authority.

<a href="https://www.wionews.com/business-economy/paytm-secures-third-party-app-license-to-sustain-upi-payments-report-700303 ">Read more here</a>

Argentina Senate deals blow to Milei's economic decree. Here’s what happened&nbsp;

Argentina's Senate dealt a significant blow to President Javier Milei's ambitious economic agenda by rejecting his extensive "mega decree" of reforms, signalling a setback for his efforts to address the country's economic challenges.

<a href="https://www.wionews.com/business-economy/argentina-senate-deals-blow-to-mileis-economic-decree-heres-what-happened-700313 ">Read more here</a>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

China's housing market shows signs of stabilisation as policy support intensifies&nbsp;

China's new home-price declines moderated slightly in February, reflecting that increased policy support measures is failing to stabilise the sector.

<a href="https://www.wionews.com/business-economy/chinas-housing-market-shows-signs-of-stabilisation-as-policy-support-intensifies-700324 ">Read more here</a>

Foxconn stock soars 9.5 pc as Q4 profits exceed expectations amid strong AI server demand&nbsp;

Foxconn, a prominent supplier to tech giant Apple, witnessed a remarkable surge in its stock price, jumping as much as 9.5 per cent to its highest level in three years.

<a href="https://www.wionews.com/business-economy/foxconn-stock-soars-95-pc-as-q4-profits-exceed-expectations-amid-strong-ai-server-demand-700334 ">Read more here</a>

India climbs in global human development index. Check rank here&nbsp;

India's latest position in the Human Development Index (HDI) reveals a promising trajectory, as outlined in the 2023-24 Human Development Report (HDR) by the United Nations Development Programme (UNDP).

<a href="https://www.wionews.com/business-economy/india-climbs-in-global-human-development-index-check-rank-here-700353">Read more here</a>

Corporate salary hike in India set to average 9 pc in 2024: Deloitte report Deloitte India's latest survey forecasts an average salary increase of 9 per cent for corporate executives in India in 2024, slightly lower than the 9.

Corporate salary hike in India set to average 9 pc in 2024: Deloitte report Deloitte India's latest survey forecasts an average salary increase of 9 per cent for corporate executives in India in 2024, slightly lower than the 9.2 per cent projected last year. Read more here Hedge fund manager faces arrest over alleged misappropriation of $533 mn from Byju's A US bankruptcy judge ordered the arrest of hedge fund manager William Cameron Morton for reportedly aiding Indian ed-tech startup Byju's in concealing $533 million from its creditors. Read more here Paytm secures third-party app license to sustain UPI payments: Report Indian digital payments giant Paytm, also known as One 97 Communications, has been granted a third-party application provider license by India's payments authority. Read more here Argentina Senate deals blow to Milei's economic decree. Here’s what happened Argentina's Senate dealt a significant blow to President Javier Milei's ambitious economic agenda by rejecting his extensive "mega decree" of reforms, signalling a setback for his efforts to address the country's economic challenges. Read more here WION's Business Desk brings you this daily round up of global stories from the world of business and economy. China's housing market shows signs of stabilisation as policy support intensifies China's new home-price declines moderated slightly in February, reflecting that increased policy support measures is failing to stabilise the sector. Read more here Foxconn stock soars 9.5 pc as Q4 profits exceed expectations amid strong AI server demand Foxconn, a prominent supplier to tech giant Apple, witnessed a remarkable surge in its stock price, jumping as much as 9.5 per cent to its highest level in three years. Read more here India climbs in global human development index. Check rank here India's latest position in the Human Development Index (HDI) reveals a promising trajectory, as outlined in the 2023-24 Human Development Report (HDR) by the United Nations Development Programme (UNDP). Read more here

WION Business Wrap | China's property crisis, India's rise in HDI and more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

IBM announces job cuts amidst AI integration: Report&nbsp;

Following a seven-minute meeting, International Business Machines Corp (IBM) disclosed plans for layoffs within its marketing and communications division, leaving employees grappling with uncertainty.

<a href="https://www.wionews.com/business-economy/ibm-announces-job-cuts-amidst-embrace-of-ai-functions-raises-concerns-across-tech-sector-699895 ">Read more here</a>

Byju's Regulatory Scrutiny: Auditors accused of 'gross negligence' amid doubts on financial integrity&nbsp;

Amid escalating regulatory scrutiny, the Institute of Chartered Accountants of India (ICAI) has called out the auditors of edtech giant Byju's for "gross negligence," igniting concerns over financial integrity.

<a href="https://www.wionews.com/business-economy/byjus-under-regulatory-scrutiny-auditors-face-tensions-amid-looming-doubts-on-financial-integrity-699908 ">Read more here</a>

India's economic surge echoes mid-2000s boom, says Morgan Stanley report&nbsp;

Echoing the vibrancy of India's economic boom during the mid-2000s, a recent report by Morgan Stanley highlights striking parallels between then and now, attributing the current surge to a strong investment trajectory.

<a href="https://www.wionews.com/business-economy/indias-economic-surge-echoes-mid-2000s-boom-says-morgan-stanley-report-699929 ">Read more here</a>

Israeli parliament approves amended 2024 budget, prioritising funding for Gaza war&nbsp;

The Israeli parliament has approved an amended 2024 state budget, allocating funds towards sustaining Israel's military campaign against Hamas in Gaza. This decision comes as the conflict with the Islamist Palestinian group extends into its sixth month.

<a href="https://www.wionews.com/business-economy/israeli-parliament-approves-amended-2024-budget-prioritising-funding-for-gaza-war-699944 ">Read more here</a>

Brazil shifts focus to new markets amid EU deadlock&nbsp;

Amid stalled trade negotiations between the Mercosur bloc and the European Union (EU), Brazil is planning to expand its agricultural exports to India and Africa.

<a href="https://www.wionews.com/business-economy/brazil-shifts-focus-to-new-markets-amid-eu-deadlock-699980 ">Read more here</a>

Adidas reports first annual loss in over 30 years amid North American sales warning&nbsp;

German sportswear giant Adidas revealed its first annual loss in more than three decades, citing challenges in the North American market and ongoing supply chain disruptions.

<a href="https://www.wionews.com/business-economy/adidas-reports-first-annual-loss-in-over-30-years-amid-north-american-sales-warning-699957 ">Read more here</a>

Europe aviation regulator prepared to halt Boeing approval amid safety concerns&nbsp;

Amid mounting safety concerns regarding Boeing's aircraft production, Europe's aviation regulatory body, the European Union Aviation Safety Agency (EASA), has signalled that it could suspend its indirect approval of Boeing's jet production if deemed necessary.

<a href="https://www.wionews.com/business-economy/europe-aviation-regulator-prepared-to-halt-boeing-approval-amid-safety-concerns-699988">Read more here</a>

Delta Air Lines to resume flights to Tel Aviv in June

Delta Air Lines has announced plans to resume daily flights between New York-JFK and Tel Aviv, starting June 7.

<a href="https://www.wionews.com/business-economy/delta-air-lines-to-resume-flights-to-tel-aviv-in-june-700000">Read more here</a>

How Biden administration aims to tackle Chinese EV competition

US Treasury Secretary Janet Yellen on Wednesday reiterated the Biden administration's commitment to boost the domestic electric vehicle (EV) industry and counter China's burgeoning exports in the sector.&nbsp;

<a href="https://www.wionews.com/business-economy/how-biden-administration-aims-to-tackle-chinese-ev-competition-699997">Read more here</a> 
&nbsp;

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. IBM announces job cuts amidst AI integration: Report Following a seven-minute meeting, International Business Machines Corp (IBM) disclosed plans for layoffs within its marketing and communications division, leaving employees grappling with uncertainty.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. IBM announces job cuts amidst AI integration: Report Following a seven-minute meeting, International Business Machines Corp (IBM) disclosed plans for layoffs within its marketing and communications division, leaving employees grappling with uncertainty. Read more here Byju's Regulatory Scrutiny: Auditors accused of 'gross negligence' amid doubts on financial integrity Amid escalating regulatory scrutiny, the Institute of Chartered Accountants of India (ICAI) has called out the auditors of edtech giant Byju's for "gross negligence," igniting concerns over financial integrity. Read more here India's economic surge echoes mid-2000s boom, says Morgan Stanley report Echoing the vibrancy of India's economic boom during the mid-2000s, a recent report by Morgan Stanley highlights striking parallels between then and now, attributing the current surge to a strong investment trajectory. Read more here Israeli parliament approves amended 2024 budget, prioritising funding for Gaza war The Israeli parliament has approved an amended 2024 state budget, allocating funds towards sustaining Israel's military campaign against Hamas in Gaza. This decision comes as the conflict with the Islamist Palestinian group extends into its sixth month. Read more here Brazil shifts focus to new markets amid EU deadlock Amid stalled trade negotiations between the Mercosur bloc and the European Union (EU), Brazil is planning to expand its agricultural exports to India and Africa. Read more here Adidas reports first annual loss in over 30 years amid North American sales warning German sportswear giant Adidas revealed its first annual loss in more than three decades, citing challenges in the North American market and ongoing supply chain disruptions. Read more here Europe aviation regulator prepared to halt Boeing approval amid safety concerns Amid mounting safety concerns regarding Boeing's aircraft production, Europe's aviation regulatory body, the European Union Aviation Safety Agency (EASA), has signalled that it could suspend its indirect approval of Boeing's jet production if deemed necessary. Read more here Delta Air Lines to resume flights to Tel Aviv in June Delta Air Lines has announced plans to resume daily flights between New York-JFK and Tel Aviv, starting June 7. Read more here How Biden administration aims to tackle Chinese EV competition US Treasury Secretary Janet Yellen on Wednesday reiterated the Biden administration's commitment to boost the domestic electric vehicle (EV) industry and counter China's burgeoning exports in the sector. Read more here

WION Business Wrap | Adidas' historic loss, India's economic surge and more

We put the spotlight on the Indian economy and most notably it's domestic currency-- the rupee. The Indian rupee has outperformed other emerging market currencies in the past six months. But what does this mean for the global economy?

What a strong rupee means for the global economy

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy.

Moody's Bullish on India: GDP growth forecast skyrockets to 8 pc for FY24

Leading global rating agency, Moody's, has raised the bar for India's economic prowess, revising its GDP growth forecast for the fiscal year 2023-24 to an impressive 8 per cent.

<a href="https://www.wionews.com/business-economy/moodys-bullish-on-india-gdp-growth-forecast-skyrockets-to-8-pc-for-fy24-697895">Read more here</a>

Fed Chair Jerome Powell signals potential interest rate cuts. Here are the details

Federal Reserve Chair Jerome Powell hinted at the central bank's growing confidence in considering interest rate cuts, stating they are "not far" from the needed assurance that inflation is sustainably moving towards the 2 per cent target, Bloomberg reported on Thursday.

<a href="https://www.wionews.com/business-economy/fed-chair-jerome-powell-signals-potential-interest-rate-cuts-here-are-the-details-697903">Read more here</a>

Strikes paralyse Germany's transport sector: Railways and airports in chaos

Millions of German commuters and travellers face severe disruptions as strikes escalate in the transportation sector.

<a href="https://www.wionews.com/business-economy/strikes-paralyse-german-transport-railways-and-airports-in-chaos-697913">Read more here</a>

Saudi Arabia boosts sovereign wealth fund, transfers 8 pc stake in Aramco worth $163.6 bn

Intending to advance its ambitious economic reform agenda, Saudi Arabia has doubled down on its sovereign wealth fund, the Public Investment Fund (PIF).

<a href="https://www.wionews.com/business-economy/saudi-arabia-boosts-sovereign-wealth-fund-transfers-8-pc-stake-in-aramco-worth-1636-bn-697926">Read more here</a>

LinkedIn's premium subscriptions soar to $1.7 billion in 2023. Here are the details

LinkedIn, the professional social network owned by Microsoft has reported that&nbsp;its premium subscription business has reached $1.7 billion in revenue for the year 2023.

<a href="https://www.wionews.com/business-economy/linkedins-premium-subscriptions-soar-to-17-billion-in-2023-here-are-the-details-697937">Read more here</a>

RBI and Bank Indonesia ink pact to boost bilateral trade using local currencies

In a move towards strengthening economic integration, the Reserve Bank of India (RBI) and Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on Thursday, to establish a framework promoting the use of local currencies for cross-border transactions.

<a href="https://www.wionews.com/business-economy/rbi-and-bank-indonesia-ink-pact-to-boost-bilateral-trade-using-local-currencies-697954">Read more here</a>

Flipkart to introduce quick commerce service: Targets 10-15 minute deliveries, says report

India's e-commerce giant, Flipkart, is gearing up to join the quick commerce race, aiming to roll out 10-15 minute deliveries in a dozen cities within the next six to eight weeks, as reported by Entracker.

<a href="https://www.wionews.com/business-economy/flipkart-to-introduce-quick-commerce-service-targets-10-15-minute-deliveries-report-says-697988">Read more here</a>

Broadcom eyes $10 billion in AI chip sales for 2024: Report

Broadcom on Thursday projected $10 billion in revenue from artificial intelligence (AI) chips in 2024.

<a href="https://www.wionews.com/business-economy/broadcom-eyes-10-billion-in-ai-chip-sales-for-2024-report-698002">Read more here</a>

UK Budget tax cuts won't offset rising prices, warns think tank

A leading think tank, the Institute for Fiscal Studies (IFS), has cautioned that tax cuts announced in Wednesday's Budget won't fully offset the impact of tax increases and rising prices, as per a BBC report.

<a href="https://www.wionews.com/business-economy/uk-budget-tax-cuts-wont-offset-rising-prices-warns-think-tank-697597">Read more more&nbsp;</a>

Dutch government in talks with ASML amid concerns over anti-immigration policies

The Dutch government has initiated discussions with semiconductor equipment manufacturer ASML, in a bid to prevent the company from relocating its operations abroad or expanding its footprint outside the Netherlands, amid&nbsp;concerns surrounding anti-immigration policies.

<a href="https://www.wionews.com/business-economy/dutch-government-in-talks-with-asml-amid-concerns-over-anti-immigration-policies-697594">Read more here</a>

Apple faces 24 pc dip in China iPhone sales amid Huawei's 64 pc surge

Apple encountered a significant setback in China as its iPhone sales plummeted by 24 per cent in the initial six weeks of 2024, as revealed by a report by research firm Counterpoint.

<a href="https://www.wionews.com/business-economy/apple-faces-24-pc-dip-in-china-iphone-sales-amid-huaweis-64-pc-surge-697527">Read more here</a>

China aims for 5pc GDP growth amid scepticism - promises vigorous effort to achieve target

China is standing firm on its ambitious plan to achieve a 5 per cent GDP growth this year, with officials expressing confidence in attaining the target through determined efforts.

<a href="https://www.wionews.com/business-economy/china-aims-for-5pc-gdp-growth-amid-scepticism-promises-vigorous-effort-to-achieve-target-697511">Read more here</a>

India's Economic Ascent: Projected to grow 6.8 pc in FY25, country eyes upper-middle-income status by 2031

India's economic trajectory is on an upward swing, with a forecasted 6.8 per cent growth in the next fiscal year, according to ratings agency Crisil.

<a href="https://www.wionews.com/business-economy/indias-economic-ascent-projected-68-pc-growth-in-fy25-eyes-upper-middle-income-status-by-2031-697492">Read more here</a>

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Moody's Bullish on India: GDP growth forecast skyrockets to 8 pc for FY24 Leading global rating agency, Moody's, has raised the bar for India's economic prowess, revising its GDP growth forecast for the fiscal year 2023-24 to an impressive 8 per cent.

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Moody's Bullish on India: GDP growth forecast skyrockets to 8 pc for FY24 Leading global rating agency, Moody's, has raised the bar for India's economic prowess, revising its GDP growth forecast for the fiscal year 2023-24 to an impressive 8 per cent. Read more here Fed Chair Jerome Powell signals potential interest rate cuts. Here are the details Federal Reserve Chair Jerome Powell hinted at the central bank's growing confidence in considering interest rate cuts, stating they are "not far" from the needed assurance that inflation is sustainably moving towards the 2 per cent target, Bloomberg reported on Thursday. Read more here Strikes paralyse Germany's transport sector: Railways and airports in chaos Millions of German commuters and travellers face severe disruptions as strikes escalate in the transportation sector. Read more here Saudi Arabia boosts sovereign wealth fund, transfers 8 pc stake in Aramco worth $163.6 bn Intending to advance its ambitious economic reform agenda, Saudi Arabia has doubled down on its sovereign wealth fund, the Public Investment Fund (PIF). Read more here LinkedIn's premium subscriptions soar to $1.7 billion in 2023. Here are the details LinkedIn, the professional social network owned by Microsoft has reported that its premium subscription business has reached $1.7 billion in revenue for the year 2023. Read more here RBI and Bank Indonesia ink pact to boost bilateral trade using local currencies In a move towards strengthening economic integration, the Reserve Bank of India (RBI) and Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) on Thursday, to establish a framework promoting the use of local currencies for cross-border transactions. Read more here Flipkart to introduce quick commerce service: Targets 10-15 minute deliveries, says report India's e-commerce giant, Flipkart, is gearing up to join the quick commerce race, aiming to roll out 10-15 minute deliveries in a dozen cities within the next six to eight weeks, as reported by Entracker. Read more here Broadcom eyes $10 billion in AI chip sales for 2024: Report Broadcom on Thursday projected $10 billion in revenue from artificial intelligence (AI) chips in 2024. Read more here UK Budget tax cuts won't offset rising prices, warns think tank A leading think tank, the Institute for Fiscal Studies (IFS), has cautioned that tax cuts announced in Wednesday's Budget won't fully offset the impact of tax increases and rising prices, as per a BBC report. Read more more Dutch government in talks with ASML amid concerns over anti-immigration policies The Dutch government has initiated discussions with semiconductor equipment manufacturer ASML, in a bid to prevent the company from relocating its operations abroad or expanding its footprint outside the Netherlands, amid concerns surrounding anti-immigration policies. Read more here Apple faces 24 pc dip in China iPhone sales amid Huawei's 64 pc surge Apple encountered a significant setback in China as its iPhone sales plummeted by 24 per cent in the initial six weeks of 2024, as revealed by a report by research firm Counterpoint. Read more here China aims for 5pc GDP growth amid scepticism - promises vigorous effort to achieve target China is standing firm on its ambitious plan to achieve a 5 per cent GDP growth this year, with officials expressing confidence in attaining the target through determined efforts. Read more here India's Economic Ascent: Projected to grow 6.8 pc in FY25, country eyes upper-middle-income status by 2031 India's economic trajectory is on an upward swing, with a forecasted 6.8 per cent growth in the next fiscal year, according to ratings agency Crisil. Read more here

WION Business Wrap | Top stories from the world of economy and business

How did the global stock indices and commodity prices perform in the month of February? What is the economic outlook for the world? All this and much more in the monthly economic health check.

How the global economy performed in February

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

Second mansion of Evergrande chairman hits market amid liquidation

In the latest development surrounding China Evergrande Group's financial turmoil, a second mansion once owned by the company's chairman, Hui Ka Yan, has been listed for sale by receivers, as reported by property agent Savills.

<a href="https://www.wionews.com/business-economy/second-mansion-of-evergrande-chairman-hits-market-amid-liquidation-695436">Read more here</a>

Brazil urges G20 to enforce global tax on super-rich in battle against tax evasion

At the G20 meeting on Thursday, Brazil’s finance minister, Fernando Haddad, proposed the implementation of a global tax on the super-rich to combat the rampant issue of tax evasion, Associated Press reported.

<a href="https://www.wionews.com/business-economy/brazil-urges-g20-to-enforce-global-tax-on-super-rich-in-battle-against-tax-evasion-695416">Read more here</a>

Japan's jobless rate hits 2.4 per cent in January amid labour shortage: Report

The latest government data from Reuters reveals that Japan's jobless rate experienced a notable decline, reaching 2.4 per cent in January, down from a revised 2.5 per cent in the previous month.

<a href="https://www.wionews.com/business-economy/japans-jobless-rate-hits-24-per-cent-in-january-amid-labour-shortage-report-695426">Read more here</a>

Citigroup announces layoffs of 286 employees in New York: Report

Citigroup is set to lay off 286 employees in New York, as disclosed in recent filings with the State Department of Labour.

<a href="https://www.wionews.com/business-economy/citigroup-announces-layoffs-of-286-employees-in-new-york-report-695434">Read more here</a>

US IRS launches crackdown on 125,000 unfiled high-income tax returns

The Internal Revenue Service (IRS) has set its sights on high-income earners who have neglected to file tax returns, with a targeted approach aimed at 125,000 cases since 2017.

<a href="https://www.wionews.com/business-economy/us-irs-launches-crackdown-on-125000-unfiled-high-income-tax-returns-695453">Read more here</a>

Boeing agrees to $51 million settlement over US export violations, including breaches in China

Boeing has reached a $51 million settlement with the US State Department for multiple export violations, a resolution that includes improper actions by Chinese employees in China.

<a href="https://www.wionews.com/business-economy/boeing-agrees-to-51-million-settlement-over-us-export-violations-including-breaches-in-china-695465">Read more here</a>

Oil prices surge amid Gaza ceasefire talks complications and tensions in West Asia

Global oil prices experienced a notable uptick on Friday, poised to conclude the week with a modest increase, as ceasefire talks in Gaza faced complications following the deaths of over 100 Palestinians awaiting aid delivery.

<a href="https://www.wionews.com/business-economy/oil-prices-surge-amid-gaza-ceasefire-talks-complications-and-tensions-in-west-asia-695470">Read more here</a>

China's manufacturing contracts for 5th month, sparks calls for increased stimulus

China's manufacturing sector recorded a contraction for the fifth consecutive month, as revealed by an official factory survey on Friday.

<a href="https://www.wionews.com/business-economy/chinas-manufacturing-contracts-for-5th-month-sparks-calls-for-increased-stimulus-695472">Read more here</a>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Second mansion of Evergrande chairman hits market amid liquidation In the latest development surrounding China Evergrande Group's financial turmoil, a second mansion once owned by the company's chairman, Hui Ka Yan, has been listed for sale by receivers, as reported by property agent Savills.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Second mansion of Evergrande chairman hits market amid liquidation In the latest development surrounding China Evergrande Group's financial turmoil, a second mansion once owned by the company's chairman, Hui Ka Yan, has been listed for sale by receivers, as reported by property agent Savills. Read more here Brazil urges G20 to enforce global tax on super-rich in battle against tax evasion At the G20 meeting on Thursday, Brazil’s finance minister, Fernando Haddad, proposed the implementation of a global tax on the super-rich to combat the rampant issue of tax evasion, Associated Press reported. Read more here Japan's jobless rate hits 2.4 per cent in January amid labour shortage: Report The latest government data from Reuters reveals that Japan's jobless rate experienced a notable decline, reaching 2.4 per cent in January, down from a revised 2.5 per cent in the previous month. Read more here Citigroup announces layoffs of 286 employees in New York: Report Citigroup is set to lay off 286 employees in New York, as disclosed in recent filings with the State Department of Labour. Read more here US IRS launches crackdown on 125,000 unfiled high-income tax returns The Internal Revenue Service (IRS) has set its sights on high-income earners who have neglected to file tax returns, with a targeted approach aimed at 125,000 cases since 2017. Read more here Boeing agrees to $51 million settlement over US export violations, including breaches in China Boeing has reached a $51 million settlement with the US State Department for multiple export violations, a resolution that includes improper actions by Chinese employees in China. Read more here Oil prices surge amid Gaza ceasefire talks complications and tensions in West Asia Global oil prices experienced a notable uptick on Friday, poised to conclude the week with a modest increase, as ceasefire talks in Gaza faced complications following the deaths of over 100 Palestinians awaiting aid delivery. Read more here China's manufacturing contracts for 5th month, sparks calls for increased stimulus China's manufacturing sector recorded a contraction for the fifth consecutive month, as revealed by an official factory survey on Friday. Read more here

WION Business Wrap | China's manufacturing slump, oil prices surge and more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

Paramount global surprises with streaming growth despite missing revenue estimates

Paramount Global's quarterly revenue disappointed Wall Street on Wednesday, even after posting a profit boosted by streaming gains that overshadowed a sluggish advertising market.

<a href="https://www.wionews.com/business-economy/paramount-global-surprises-with-streaming-growth-despite-missing-revenue-estimates-695067">Read more here</a>

Apple to expand generative AI use: CEO Tim Cook at shareholder meeting

During Apple's annual shareholder meeting, CEO Tim Cook revealed plans to provide more insights into the company's utilisation of generative artificial intelligence (AI) later this year.

<a href="https://www.wionews.com/business-economy/apple-to-expand-generative-ai-use-ceo-tim-cook-at-shareholder-meeting-695069">Read more here</a>

Japan's factory output plummets in January as economic concerns mount

Japan's factory output experienced its sharpest decline since May 2020, according to government data released on Thursday, increasing worries about the country's fragile economy, which slipped into recession late last year.

<a href="https://www.wionews.com/business-economy/japans-factory-output-plummets-in-january-as-economic-concerns-mount-695087">Read more here</a>

Google faces $2.3 bn lawsuit from European media groups over alleged ad tech misconduct

Google is facing a 2.1-billion-euro ($2.3 billion) lawsuit filed by 32 media conglomerates, including Axel Springer and Schibsted.

<a href="https://www.wionews.com/business-economy/google-faces-23-bn-lawsuit-from-european-media-groups-over-alleged-ad-tech-misconduct-695000">Read more here</a>

WTO Showdown: US-led reform efforts trigger friction with India

A dispute has arisen over reforming the World Trade Organisation's dispute settlement system at the 13th ministerial meeting (MC13), with India accusing the US of stalling progress.&nbsp;

<a href="https://www.wionews.com/business-economy/wto-showdown-us-led-reform-efforts-trigger-friction-with-india-695037">Read more here</a>

Electronic Arts announces workforce reduction and office space cutback: Report

Electronic Arts (EA), a prominent player in the video game industry, plans to trim its workforce by 5 per cent and downsize office space in a strategic restructuring effort. This announcement comes while challenges within the gaming sector loom, compounded by high interest rates.

<a href="https://www.wionews.com/business-economy/electronic-arts-announces-workforce-reduction-and-office-space-cutbacks-report-695052">Read more here</a>

Wendy's promises no surge pricing for burgers amid backlash over CEO's comments

Wendy's, the renowned burger chain, has responded to a social media uproar following comments made by its CEO, Kirk Tanner, over the possible implementation of "dynamic pricing."

<a href="https://www.wionews.com/business-economy/wendys-promises-no-surge-pricing-for-burgers-amid-backlash-over-ceos-comments-695059">Read more here</a>

Shell's Savion initiates sale of solar assets: Reports

Shell's American solar subsidiary, Savion, has initiated the sale of approximately 25 per cent of its solar assets, according to industry sources and a marketing document obtained by Reuters.

<a href="https://www.wionews.com/business-economy/shells-savion-initiates-sale-of-solar-assets-according-to-sources-695071">Read more here</a>

Gemini agrees to return $1.1 billion to customers in regulatory settlement

Cryptocurrency exchange Gemini has reached a settlement with the New York Department of Financial Services (NYDFS), agreeing to refund at least $1.1 billion to customers impacted by its discontinued lending program, Reuters reported.

<a href="https://www.wionews.com/business-economy/gemini-agrees-to-return-11-billion-to-customers-in-regulatory-settlement-695081">Read more here</a>

SEC's climate reporting rule: What's at stake for investors and corporations?

Wall Street's top regulator, the US Securities and Exchange Commission (SEC), is nearing a decision that could reshape how thousands of US-listed companies disclose their climate-related risks and impacts to investors.

<a href="https://www.wionews.com/business-economy/secs-climate-reporting-rule-whats-at-stake-for-investors-and-corporations-695128">Read more here</a>

Ukraine seeks $3 billion in monthly aid as war rages on

Ukrainian Finance Minister Serhiy Marchenko has issued an urgent plea for $3 billion in monthly financial assistance to sustain the country throughout 2024. This request comes amid mounting economic pressure due to the ongoing war with Russia.

<a href="https://www.wionews.com/business-economy/ukraine-seeks-3-billion-in-monthly-aid-as-war-rages-on-695109">Read more here</a>

US SEC investigates potential misconduct at OpenAI

The Securities and Exchange Commission (SEC) is probing potential miscommunication between OpenAI and its investors during a period of internal conflict that led to CEO Sam Altman's ousting in November 2023.

<a href="https://www.wionews.com/business-economy/us-sec-investigates-potential-misconduct-at-openai-695111">Read more here</a>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Paramount global surprises with streaming growth despite missing revenue estimates Paramount Global's quarterly revenue disappointed Wall Street on Wednesday, even after posting a profit boosted by streaming gains that overshadowed a sluggish advertising market.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Paramount global surprises with streaming growth despite missing revenue estimates Paramount Global's quarterly revenue disappointed Wall Street on Wednesday, even after posting a profit boosted by streaming gains that overshadowed a sluggish advertising market. Read more here Apple to expand generative AI use: CEO Tim Cook at shareholder meeting During Apple's annual shareholder meeting, CEO Tim Cook revealed plans to provide more insights into the company's utilisation of generative artificial intelligence (AI) later this year. Read more here Japan's factory output plummets in January as economic concerns mount Japan's factory output experienced its sharpest decline since May 2020, according to government data released on Thursday, increasing worries about the country's fragile economy, which slipped into recession late last year. Read more here Google faces $2.3 bn lawsuit from European media groups over alleged ad tech misconduct Google is facing a 2.1-billion-euro ($2.3 billion) lawsuit filed by 32 media conglomerates, including Axel Springer and Schibsted. Read more here WTO Showdown: US-led reform efforts trigger friction with India A dispute has arisen over reforming the World Trade Organisation's dispute settlement system at the 13th ministerial meeting (MC13), with India accusing the US of stalling progress. Read more here Electronic Arts announces workforce reduction and office space cutback: Report Electronic Arts (EA), a prominent player in the video game industry, plans to trim its workforce by 5 per cent and downsize office space in a strategic restructuring effort. This announcement comes while challenges within the gaming sector loom, compounded by high interest rates. Read more here Wendy's promises no surge pricing for burgers amid backlash over CEO's comments Wendy's, the renowned burger chain, has responded to a social media uproar following comments made by its CEO, Kirk Tanner, over the possible implementation of "dynamic pricing." Read more here Shell's Savion initiates sale of solar assets: Reports Shell's American solar subsidiary, Savion, has initiated the sale of approximately 25 per cent of its solar assets, according to industry sources and a marketing document obtained by Reuters. Read more here Gemini agrees to return $1.1 billion to customers in regulatory settlement Cryptocurrency exchange Gemini has reached a settlement with the New York Department of Financial Services (NYDFS), agreeing to refund at least $1.1 billion to customers impacted by its discontinued lending program, Reuters reported. Read more here SEC's climate reporting rule: What's at stake for investors and corporations? Wall Street's top regulator, the US Securities and Exchange Commission (SEC), is nearing a decision that could reshape how thousands of US-listed companies disclose their climate-related risks and impacts to investors. Read more here Ukraine seeks $3 billion in monthly aid as war rages on Ukrainian Finance Minister Serhiy Marchenko has issued an urgent plea for $3 billion in monthly financial assistance to sustain the country throughout 2024. This request comes amid mounting economic pressure due to the ongoing war with Russia. Read more here US SEC investigates potential misconduct at OpenAI The Securities and Exchange Commission (SEC) is probing potential miscommunication between OpenAI and its investors during a period of internal conflict that led to CEO Sam Altman's ousting in November 2023. Read more here

WION Business Wrap | From Japan to the U.S: Top business and economy stories of the day

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

Sony announces layoffs and studio closure while challenges loom in the gaming sector

Sony has revealed plans to lay off approximately 900 employees from its PlayStation unit and shut down a London-based studio, according to an announcement made on Tuesday.

<a href="https://www.wionews.com/business-economy/sony-announces-layoffs-and-studio-closure-while-challenges-loom-in-the-gaming-sector-694581">Read more here</a>

Maersk issues warning on prolonged Red Sea disruptions, supply chain challenges

Maersk, a key player in the global shipping industry, has issued a cautionary note, indicating that disruptions to container shipping through the Red Sea may extend into the second half of the year.

<a href="https://www.wionews.com/business-economy/maersk-issues-warning-on-prolonged-red-sea-disruptions-supply-chain-challenges-694586">Read more here</a>

Investors accuse Byju's of siphoning $533 million. Here are the details

Edtech company Byju's is facing allegations from investors who claim that the company siphoned off a staggering $533 million to an obscure hedge fund in the United States.

<a href="https://www.wionews.com/business-economy/investors-accuse-byjus-of-siphoning-533-here-are-the-details-694594">Read more here</a>

Bitcoin hits two-year high surpassing $57,000 with strong institutional interest

Bitcoin, has surged to a two-year high, blazing through $57,000 in a remarkable two-day rally, marking its most substantial gain of the year.

<a href="https://www.wionews.com/business-economy/bitcoin-hits-two-year-high-surpassing-57000-with-strong-institutional-interest-694609">Read more here</a>

India anticipates first drop in thermal coal imports amid rising domestic production

India, the world's second-largest coal importer, is reportedly set to witness a decline in thermal coal imports for the first time since the COVID-19 pandemic, according to industry officials at the Coaltrans India conference held in Goa.

<a href="https://www.wionews.com/business-economy/india-anticipates-first-drop-in-thermal-coal-imports-amid-rising-domestic-production-694622">Read more here</a>

Australia's inflation remains at two-year low in January, dampening rate hike expectations

Australia's consumer price inflation has maintained a two-year low in January, defying expectations of a slight increase, according to data released by the Australian Bureau of Statistics on Wednesday.

<a href="https://www.wionews.com/business-economy/australias-inflation-remains-at-two-year-low-in-january-dampening-rate-hike-expectations-694636">Read more here</a>

China's Country Garden faces liquidation petition amid financial challenges

China's largest private property developer, Country Garden Holdings, is grappling with a liquidation petition for failing to repay a term loan facility worth HK$1.6 billion ($204.5 million), the company disclosed on Wednesday.

<a href="https://www.wionews.com/business-economy/chinas-country-garden-faces-liquidation-petition-amid-financial-challenges-694643">Read more here</a>

Wendy's to introduce Uber-style 'Surge Pricing' on Burgers, prompting concerns

Wendy's, the popular fast-food chain, is set to experiment with an "Uber-style" surge-pricing model, where the prices of its menu items will fluctuate based on demand throughout the day.

<a href="https://www.wionews.com/business-economy/wendys-to-introduce-uber-style-surge-pricing-on-burgers-prompting-concerns-694653">Read more here</a>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Sony announces layoffs and studio closure while challenges loom in the gaming sector Sony has revealed plans to lay off approximately 900 employees from its PlayStation unit and shut down a London-based studio, according to an announcement made on Tuesday.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Sony announces layoffs and studio closure while challenges loom in the gaming sector Sony has revealed plans to lay off approximately 900 employees from its PlayStation unit and shut down a London-based studio, according to an announcement made on Tuesday. Read more here Maersk issues warning on prolonged Red Sea disruptions, supply chain challenges Maersk, a key player in the global shipping industry, has issued a cautionary note, indicating that disruptions to container shipping through the Red Sea may extend into the second half of the year. Read more here Investors accuse Byju's of siphoning $533 million. Here are the details Edtech company Byju's is facing allegations from investors who claim that the company siphoned off a staggering $533 million to an obscure hedge fund in the United States. Read more here Bitcoin hits two-year high surpassing $57,000 with strong institutional interest Bitcoin, has surged to a two-year high, blazing through $57,000 in a remarkable two-day rally, marking its most substantial gain of the year. Read more here India anticipates first drop in thermal coal imports amid rising domestic production India, the world's second-largest coal importer, is reportedly set to witness a decline in thermal coal imports for the first time since the COVID-19 pandemic, according to industry officials at the Coaltrans India conference held in Goa. Read more here Australia's inflation remains at two-year low in January, dampening rate hike expectations Australia's consumer price inflation has maintained a two-year low in January, defying expectations of a slight increase, according to data released by the Australian Bureau of Statistics on Wednesday. Read more here China's Country Garden faces liquidation petition amid financial challenges China's largest private property developer, Country Garden Holdings, is grappling with a liquidation petition for failing to repay a term loan facility worth HK$1.6 billion ($204.5 million), the company disclosed on Wednesday. Read more here Wendy's to introduce Uber-style 'Surge Pricing' on Burgers, prompting concerns Wendy's, the popular fast-food chain, is set to experiment with an "Uber-style" surge-pricing model, where the prices of its menu items will fluctuate based on demand throughout the day. Read more here

WION Business Wrap | The top business stories of the day summarised

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

Byju's investors forge ahead with CEO ousting amid legal hurdles and financial turmoil

The meeting, organised by a consortium of shareholders including global tech investor Prosus, is poised to deliberate on Raveendran's removal amid a backdrop of profound financial distress and legal entanglements that have engulfed the company over the past year.

<a href="https://www.wionews.com/business-economy/byjus-investors-forge-ahead-with-ceo-ousting-amid-legal-hurdles-and-financial-turmoil-692966">Read more here</a>

Vice Media announces layoffs, halts publication amid financial struggles

In a move signalling a major restructuring within the media industry, Vice Media, the once-burgeoning multimedia company, has announced plans to lay off several hundred employees and cease publication on its Vice.com website, AP News reported.

<a href="https://www.wionews.com/business-economy/vice-media-announces-layoffs-halts-publication-amid-financial-struggles-692981">Read more here</a>

Nikkei surges to near all-time high, driven by market optimism and corporate gains

Japan's Nikkei index surged to remarkable heights on Friday, inching closer to its all-time peak last seen during the country's economic bubble in the 1980s, signalling renewed investor confidence and buoyancy in the market.

<a href="https://www.wionews.com/business-economy/nikkei-surges-to-near-all-time-high-driven-by-market-optimism-and-corporate-gains-693002">Read more here</a>

Nvidia's surge adds $277 billion in market value, spurring record stock rally

In a historic feat, chip maker Nvidia's market capitalisation surged by $277 billion in a single day. The surge, propelled by Nvidia's quarterly report surpassing analysts' expectations, reignited optimism surrounding artificial intelligence (AI).&nbsp;

<a href="https://www.wionews.com/business-economy/nvidias-remarkable-surge-adds-277-billion-in-market-value-spurring-record-stock-rally-693009">Read more here</a>

Reddit's IPO filing reveals narrowed losses, steady growth amid high anticipation

Reddit, the social media giant, has disclosed its intention to go public in the United States stock market, while revealing a narrowed net loss of $90.8 million and a revenue growth of approximately 21 per cent in 2023.

<a href="https://www.wionews.com/business-economy/reddits-ipo-filing-reveals-narrowed-losses-steady-growth-amid-high-anticipation-693058">Read more here</a>

Toyota issues recall for 280,000 vehicles over transmission flaw: Report

Toyota has initiated a recall of approximately 280,000 pickup trucks and SUVs in the United States due to a transmission issue that could lead to unintended vehicle movement while the gear is kept on neutral.

<a href="https://www.wionews.com/business-economy/toyota-issues-recall-for-280000-vehicles-over-transmission-flaw-report-693060">Read more here</a>

India poised to surpass Japan and Germany, become&nbsp;third-largest economy by 2027: Jefferies

Investment banking firm, Jefferies, predicts that India is set to become the third-largest economy globally by 2027, overtaking both Japan and Germany. With India's GDP projected to reach $5 trillion in the next four years and nearly $10 trillion by 2030, the country's economic ascent is predicted to be strong.

<a href="https://www.wionews.com/business-economy/india-poised-to-surpass-japan-and-germany-becoming-third-largest-economy-by-2027-jefferies-693085">Read more here</a>

US to impose sanctions on over 500 targets on anniversary of Ukraine war

In response to Russia's invasion of Ukraine, the United States is set to impose sanctions on more than 500 targets on Friday, marking the second anniversary of the conflict.

<a href="https://www.wionews.com/business-economy/us-to-impose-sanctions-on-over-500-targets-on-anniversary-of-ukraine-war-693074">Read more here</a>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Byju's investors forge ahead with CEO ousting amid legal hurdles and financial turmoil The meeting, organised by a consortium of shareholders including global tech investor Prosus, is poised to deliberate on Raveendran's removal amid a backdrop of profound financial distress and legal entanglements that have engulfed the company over the past year.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Byju's investors forge ahead with CEO ousting amid legal hurdles and financial turmoil The meeting, organised by a consortium of shareholders including global tech investor Prosus, is poised to deliberate on Raveendran's removal amid a backdrop of profound financial distress and legal entanglements that have engulfed the company over the past year. Read more here Vice Media announces layoffs, halts publication amid financial struggles In a move signalling a major restructuring within the media industry, Vice Media, the once-burgeoning multimedia company, has announced plans to lay off several hundred employees and cease publication on its Vice.com website, AP News reported. Read more here Nikkei surges to near all-time high, driven by market optimism and corporate gains Japan's Nikkei index surged to remarkable heights on Friday, inching closer to its all-time peak last seen during the country's economic bubble in the 1980s, signalling renewed investor confidence and buoyancy in the market. Read more here Nvidia's surge adds $277 billion in market value, spurring record stock rally In a historic feat, chip maker Nvidia's market capitalisation surged by $277 billion in a single day. The surge, propelled by Nvidia's quarterly report surpassing analysts' expectations, reignited optimism surrounding artificial intelligence (AI). Read more here Reddit's IPO filing reveals narrowed losses, steady growth amid high anticipation Reddit, the social media giant, has disclosed its intention to go public in the United States stock market, while revealing a narrowed net loss of $90.8 million and a revenue growth of approximately 21 per cent in 2023. Read more here Toyota issues recall for 280,000 vehicles over transmission flaw: Report Toyota has initiated a recall of approximately 280,000 pickup trucks and SUVs in the United States due to a transmission issue that could lead to unintended vehicle movement while the gear is kept on neutral. Read more here India poised to surpass Japan and Germany, become third-largest economy by 2027: Jefferies Investment banking firm, Jefferies, predicts that India is set to become the third-largest economy globally by 2027, overtaking both Japan and Germany. With India's GDP projected to reach $5 trillion in the next four years and nearly $10 trillion by 2030, the country's economic ascent is predicted to be strong. Read more here US to impose sanctions on over 500 targets on anniversary of Ukraine war In response to Russia's invasion of Ukraine, the United States is set to impose sanctions on more than 500 targets on Friday, marking the second anniversary of the conflict. Read more here

WION Business Wrap | Nvidia's soaring stock, Nikkei's resurgence and more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

India to set up 'Bharat Mart' in Dubai: All you need to know about the warehouse facility

As part of its ambition to displace China as the global supply chain hub, India is setting up a warehouse facility, named 'Bharat Mart', in the United Arab Emirates.

<a href="https://www.wionews.com/business-economy/india-to-set-up-bharat-mart-in-dubai-all-you-need-to-know-about-the-warehouse-facility-690455">Read more here</a>

EU mulls sanctions on two dozen firms, including three Chinese companies: Report

At least two dozen firms, including three Chinese firms, are likely to face the European Union's latest sanctions. These firms have been accused of supporting Russia's war efforts in Ukraine.

<a href="https://www.wionews.com/business-economy/eu-mulls-sanctions-on-two-dozen-firms-including-three-chinese-companies-report-690424">Read more here</a>

Japan slips into recession, overtaken by Germany as third largest economy

Japan has lost that position to Germany, after contracting for the last six months of 2023 and consequently slipping into a recession.

<a href="https://www.wionews.com/business-economy/japan-slips-into-recession-economy-shrinks-in-the-last-three-months-of-2023-690388">Read more here</a>

Rising trend of 'lying flat' among Chinese youth reflects economic pessimism

In the face of dwindling job opportunities amid a sluggish economy, a growing number of young Chinese are embracing the concept of "lying flat" – a term describing individuals who work minimally to sustain themselves while prioritising personal interests and well-being over corporate pursuits.

<a href="https://www.wionews.com/business-economy/rising-trend-of-lying-flat-among-chinese-youth-reflects-economic-pessimism-690470">Read more here</a>

India and UAE unveil ambitious trans-continental trade corridor amid regional challenges

In a significant development, India and the United Arab Emirates (UAE) have inked a historic agreement on a trans-continental trade corridor, aiming to connect Europe with India through the Middle East via sea and rail.

<a href="https://www.wionews.com/business-economy/india-and-uae-unveil-ambitious-trans-continental-trade-corridor-amid-regional-challenges-690422">Read more here</a>

Nvidia surpasses Alphabet to claim third spot in Wall Street's valuation race

In a significant shake-up on Wall Street, Nvidia has emerged as the third most valuable US company, surpassing Google-parent Alphabet.

<a href="https://www.wionews.com/business-economy/nvidia-surpasses-alphabet-to-claim-third-spot-in-wall-streets-valuation-race-690433">Read more here</a>

Morgan Stanley to trim hundreds of jobs in wealth management unit

Investment banking giant Morgan Stanley is set to reduce its workforce by cutting hundreds of jobs in its wealth management unit, sources tell Reuters.

<a href="https://www.wionews.com/business-economy/morgan-stanley-to-trim-hundreds-of-jobs-in-wealth-management-unit-690447">Read more here</a>

Cisco announces job cuts and revenue forecast slash amid economic challenges

In response to the economic challenges plaguing the tech industry, networking equipment giant Cisco Systems has declared plans to cut more than 4,000 jobs, equivalent to 5 per cent of its global workforce.

<a href="https://www.wionews.com/business-economy/cisco-announces-job-cuts-and-revenue-forecast-slash-amid-economic-challenges-690490">Read more here</a>

Airbus CEO issues blunt warning as unexpected space business losses trigger internal overhaul

Guillaume Faury, the CEO of Airbus, has delivered a message to the company's staff, labelling recent unexpected losses in its Space business as "not acceptable."

<a href="https://www.wionews.com/business-economy/airbus-ceo-issues-blunt-warning-as-unexpected-space-business-losses-trigger-internal-overhaul-690501">Read more here</a>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. India to set up 'Bharat Mart' in Dubai: All you need to know about the warehouse facility As part of its ambition to displace China as the global supply chain hub, India is setting up a warehouse facility, named 'Bharat Mart', in the United Arab Emirates.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. India to set up 'Bharat Mart' in Dubai: All you need to know about the warehouse facility As part of its ambition to displace China as the global supply chain hub, India is setting up a warehouse facility, named 'Bharat Mart', in the United Arab Emirates. Read more here EU mulls sanctions on two dozen firms, including three Chinese companies: Report At least two dozen firms, including three Chinese firms, are likely to face the European Union's latest sanctions. These firms have been accused of supporting Russia's war efforts in Ukraine. Read more here Japan slips into recession, overtaken by Germany as third largest economy Japan has lost that position to Germany, after contracting for the last six months of 2023 and consequently slipping into a recession. Read more here Rising trend of 'lying flat' among Chinese youth reflects economic pessimism In the face of dwindling job opportunities amid a sluggish economy, a growing number of young Chinese are embracing the concept of "lying flat" – a term describing individuals who work minimally to sustain themselves while prioritising personal interests and well-being over corporate pursuits. Read more here India and UAE unveil ambitious trans-continental trade corridor amid regional challenges In a significant development, India and the United Arab Emirates (UAE) have inked a historic agreement on a trans-continental trade corridor, aiming to connect Europe with India through the Middle East via sea and rail. Read more here Nvidia surpasses Alphabet to claim third spot in Wall Street's valuation race In a significant shake-up on Wall Street, Nvidia has emerged as the third most valuable US company, surpassing Google-parent Alphabet. Read more here Morgan Stanley to trim hundreds of jobs in wealth management unit Investment banking giant Morgan Stanley is set to reduce its workforce by cutting hundreds of jobs in its wealth management unit, sources tell Reuters. Read more here Cisco announces job cuts and revenue forecast slash amid economic challenges In response to the economic challenges plaguing the tech industry, networking equipment giant Cisco Systems has declared plans to cut more than 4,000 jobs, equivalent to 5 per cent of its global workforce. Read more here Airbus CEO issues blunt warning as unexpected space business losses trigger internal overhaul Guillaume Faury, the CEO of Airbus, has delivered a message to the company's staff, labelling recent unexpected losses in its Space business as "not acceptable." Read more here

WION Business Wrap | Nvidia's valuation surge, Japan slips into recession & more

The war ridden region of West Asia contends with a combination of oil production cuts and the lingering impact of the Israel Gaza War. Managing director of the International Monetary Fund issued warnings about the regions growth prospects emphasizing the need for reform in energy subsidies.

IMF: Global economy resilient despite West Asia challenges

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

India nears landmark $100 bn investment pact with Switzerland, Norway

India is on the brink of finalising a trade agreement that could potentially unleash a wave of investment worth $100 billion over 15 years from a select group of European nations.

<a href="https://www.wionews.com/business-economy/india-nearing-landmark-100-bn-investment-pact-with-switzerland-norway-688489">Read more</a>

S&amp;P 500 briefly touches the 5,000-mark. Here are the details

In a day marked by fluctuations, the S&amp;P 500 index made a brief but impactful touch on the 5,000-point milestone, leaving investors reacting to earnings reports, a steady jobs report, and insights from policymakers on potential interest rate cuts.

<a href="https://www.wionews.com/business-economy/sp-500-inches-towards-5000-milestone-here-are-the-details-688492">Read more</a>

Cocoa prices skyrocket to unprecedented highs amid global supply concerns

World cocoa prices reached historic highs on Thursday as traders scrambled to secure supplies, anticipating widening deficits for the ongoing season and expressing growing concerns for the future.

<a href="https://www.wionews.com/business-economy/cocoa-prices-skyrocket-to-unprecedented-highs-amid-global-supply-concerns-688501">Read more</a>

Tesla's revenue per employee trails behind competitors, amid layoff speculations

Recent financial reports indicate that Tesla, the leading electric vehicle (EV) manufacturer, lags behind its automotive counterparts in the amount of revenue generated per employee.

<a href="https://www.wionews.com/business-economy/teslas-revenue-per-employee-trails-behind-competitors-amid-layoff-speculations-688508">Read more</a>

Google unveils Gemini AI, formerly Bard chatbot, introducing paid subscription service

To compete with Microsoft in the realm of artificial intelligence (AI) subscriptions, Google has rebranded its Bard chatbot as Gemini, powered by a new AI model.

<a href="https://www.wionews.com/business-economy/google-unveils-gemini-ai-formerly-bard-chatbot-introducing-paid-subscription-service-688512">Read more</a>

Yen nears 10-week low, dollar strengthens as traders adjust rate expectations

The yen found itself hovering near a 10-week low on Friday, while the dollar continued its upward trajectory towards a fourth consecutive weekly advance.

<a href="https://www.wionews.com/business-economy/yen-nears-10-week-low-dollar-strengthens-as-traders-adjust-rate-expectations-688518">Read more</a>

Trump's social media platform edges closer to $50 mn financing deal ahead of public debut

Digital World Acquisition Corp (DWAC), the blank-check acquisition company set to take former US President Donald Trump's social media platform public, is reportedly on the brink of securing a $50 million financing deal.

<a href="https://www.wionews.com/business-economy/trumps-social-media-platform-edges-closer-to-50-mn-financing-deal-ahead-of-public-debut-688545">Read more</a>

Flynn Group, the world's largest franchisee, explores potential $5 bn-plus sale

The Flynn Group, recognised as the world's largest franchisee operator of restaurants and fitness clubs, is reportedly exploring a majority stake sale that could potentially value the company at over $5 billion, including debt.

<a href="https://www.wionews.com/business-economy/flynn-group-the-worlds-largest-franchisee-explores-potential-5-bn-plus-sale-688554">Read more</a>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. India nears landmark $100 bn investment pact with Switzerland, Norway India is on the brink of finalising a trade agreement that could potentially unleash a wave of investment worth $100 billion over 15 years from a select group of European nations.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. India nears landmark $100 bn investment pact with Switzerland, Norway India is on the brink of finalising a trade agreement that could potentially unleash a wave of investment worth $100 billion over 15 years from a select group of European nations. Read more S&P 500 briefly touches the 5,000-mark. Here are the details In a day marked by fluctuations, the S&P 500 index made a brief but impactful touch on the 5,000-point milestone, leaving investors reacting to earnings reports, a steady jobs report, and insights from policymakers on potential interest rate cuts. Read more Cocoa prices skyrocket to unprecedented highs amid global supply concerns World cocoa prices reached historic highs on Thursday as traders scrambled to secure supplies, anticipating widening deficits for the ongoing season and expressing growing concerns for the future. Read more Tesla's revenue per employee trails behind competitors, amid layoff speculations Recent financial reports indicate that Tesla, the leading electric vehicle (EV) manufacturer, lags behind its automotive counterparts in the amount of revenue generated per employee. Read more Google unveils Gemini AI, formerly Bard chatbot, introducing paid subscription service To compete with Microsoft in the realm of artificial intelligence (AI) subscriptions, Google has rebranded its Bard chatbot as Gemini, powered by a new AI model. Read more Yen nears 10-week low, dollar strengthens as traders adjust rate expectations The yen found itself hovering near a 10-week low on Friday, while the dollar continued its upward trajectory towards a fourth consecutive weekly advance. Read more Trump's social media platform edges closer to $50 mn financing deal ahead of public debut Digital World Acquisition Corp (DWAC), the blank-check acquisition company set to take former US President Donald Trump's social media platform public, is reportedly on the brink of securing a $50 million financing deal. Read more Flynn Group, the world's largest franchisee, explores potential $5 bn-plus sale The Flynn Group, recognised as the world's largest franchisee operator of restaurants and fitness clubs, is reportedly exploring a majority stake sale that could potentially value the company at over $5 billion, including debt. Read more

WION Business Wrap | S&P 500's historic high, soaring cocoa prices & more

Global markets roundup | Asian markets open in Red. Japan leads losses in Asia.

Global markets roundup | Asian markets open in Red | WION World Business Watch

Global financial markets are buzzing with anticipation in 2024. Investors seem convinced that major western central banks are poised for a significant shift, transitioning from raising interest rates to potentially cutting them. Despite cautious warnings from central bankers, recent weeks have witnessed a surge in global stocks and a decline in top government bond yields.

Impactful changes in global economics with rising interest rates | WION World DNA

The covid pandemic, geopolitical tensions and disruptive technologies have changed the global economy. These changes seem to be irreversable, heralding the new economic normal. In the 'new normal', geopolitical fragmentation, elevated debt levels, & disruptive technologies like a-I will dictate the economy.

Davos 2024: Leaders bat for global structural reforms at Davos summit

We move to a sobering assessment from the world bank as it warns that global economic growth is poised to slow for the third consecutive year. This raises concerns about prolonged poverty and escalating debt levels in many developing countries.

Global economic slowdown to continue | World Business Watch

In 2023, the global economic landscape has seen significant shifts, mirrored by the performance of various currencies. This next report puts the spotlight on the top and worst performing currencies and decodes what's in store for their economies going forward.

Explained: What currency movements say about economies | World Business Watch

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy.

Red Sea crisis weighs on already disrupted global supply chains

There is no respite for battered global supply chains. First, trade wars and then Covid-led restrictions disrupted global supply chains. Now, it is the Israel-Hamas war that is distorting them further. Oil tankers are idling, and cargo ships are rerouting around Africa as Red Sea shipping comes to a complete stop as violence related to the Israel-Hamas conflict threatens to destabilise the world economy.

<a href="https://www.wionews.com/business-economy/red-sea-crisis-weighs-on-already-disrupted-global-supply-chains-671563">Read more here</a>

India hits out at IMF on "excessive" currency intervention comment

India hits out against the International Monetary Fund (IMF) for claiming that the central bank had interfered "excessively" in the foreign exchange market. The IMF's report suggested that the Indian government was attempting to manipulate the value of the rupee.&nbsp;

<a href="https://www.wionews.com/business-economy/india-hits-out-at-imf-on-excessive-currency-intervention-comment-671573">Read more here</a>

Tesla alters employee compensation strategy, opts out of merit-based stock awards&nbsp;

Tesla has informed salaried employees that the company will not be offering merit-based equity awards this year. While no explicit reason was provided for this deviation from the norm, insights from four employees across different departments suggest a widespread impact.

<a href="https://www.wionews.com/business-economy/tesla-alters-employee-compensation-strategy-opts-out-of-merit-based-stock-awards-671588">Read more here </a>

EU and US call a truce, postpone steel tariff showdown until after elections

The European Union (EU) and the US have decided to prolong their ceasefire on steel and aluminium imports, averting the looming threat of tariffs impacting transatlantic trade. &nbsp;

<a href="https://www.wionews.com/business-economy/eu-and-us-call-a-truce-postpone-steel-tariff-showdown-until-after-elections-671591">Read more here</a>

Hyundai's Strategic Exit: Korean carmaker to sell Russian plant for token amount amid market shifts

In a strategic move responding to geopolitical changes, South Korea's Hyundai Motor is set to sell its Russian plant for a nominal 7,000 roubles ($77.67), becoming the latest global automaker to divest from Russian assets since the outbreak of the war in Ukraine. &nbsp;

<a href="https://www.wionews.com/business-economy/hyundais-strategic-exit-korean-carmaker-to-sell-russian-plant-for-token-amount-amid-market-shifts-671597">Read more here</a>

After delisting, Toshiba navigates an uncertain future with new owners

Toshiba has bid farewell to the Tokyo exchange after 74 years, marking the end of an era marred by a decade of turmoil and scandal that tarnished one of Japan's major brands. &nbsp;

<a href="https://www.wionews.com/business-economy/after-delisting-toshiba-navigates-an-uncertain-future-with-new-owners-671609">Read more here</a>

Lufthansa's $9 bn aircraft bonanza: German airline orders 80 planes from Boeing and Airbus

Lufthansa on Tuesday inked a deal worth $9 billion, ordering a total of 80 planes from both Boeing and Airbus, with delivery set between 2026 and 2032, marking the German flagship carrier's first purchase of Boeing narrow-body planes in approximately 30 years. &nbsp;

<a href="https://www.wionews.com/business-economy/lufthansas-9-bn-aircraft-bonanza-german-airline-orders-80-planes-from-boeing-and-airbus-671629">Read more here</a>

Monsanto to pay $857 million in damages in PCB contamination case&nbsp;

In a major legal blow, a Washington state jury has ruled that Monsanto must pay $857 million to seven former students and parent volunteers of the Sky Valley Education Centre in Monroe, Washington. &nbsp;

<a href="https://www.wionews.com/business-economy/monsanto-faces-857-million-verdict-in-pcb-contamination-case-at-washington-school-671634">Read more here</a>

Chinese retailers' shift to lower prices raises concerns of deepening deflation&nbsp;

In a bid to attract cost-conscious consumers, Chinese retailers are strategically pivoting towards lower-priced goods and services. This shift, while aimed at boosting consumer spending, is raising concerns about the entrenchment of deflationary trends in China's economy.&nbsp;

<a href="https://www.wionews.com/business-economy/chinese-retailers-shift-to-lower-prices-raises-concerns-of-deepening-deflation-671637">Read more here</a>

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Red Sea crisis weighs on already disrupted global supply chains There is no respite for battered global supply chains.

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Red Sea crisis weighs on already disrupted global supply chains There is no respite for battered global supply chains. First, trade wars and then Covid-led restrictions disrupted global supply chains. Now, it is the Israel-Hamas war that is distorting them further. Oil tankers are idling, and cargo ships are rerouting around Africa as Red Sea shipping comes to a complete stop as violence related to the Israel-Hamas conflict threatens to destabilise the world economy. Read more here India hits out at IMF on "excessive" currency intervention comment India hits out against the International Monetary Fund (IMF) for claiming that the central bank had interfered "excessively" in the foreign exchange market. The IMF's report suggested that the Indian government was attempting to manipulate the value of the rupee. Read more here Tesla alters employee compensation strategy, opts out of merit-based stock awards Tesla has informed salaried employees that the company will not be offering merit-based equity awards this year. While no explicit reason was provided for this deviation from the norm, insights from four employees across different departments suggest a widespread impact. Read more here EU and US call a truce, postpone steel tariff showdown until after elections The European Union (EU) and the US have decided to prolong their ceasefire on steel and aluminium imports, averting the looming threat of tariffs impacting transatlantic trade. Read more here Hyundai's Strategic Exit: Korean carmaker to sell Russian plant for token amount amid market shifts In a strategic move responding to geopolitical changes, South Korea's Hyundai Motor is set to sell its Russian plant for a nominal 7,000 roubles ($77.67), becoming the latest global automaker to divest from Russian assets since the outbreak of the war in Ukraine. Read more here After delisting, Toshiba navigates an uncertain future with new owners Toshiba has bid farewell to the Tokyo exchange after 74 years, marking the end of an era marred by a decade of turmoil and scandal that tarnished one of Japan's major brands. Read more here Lufthansa's $9 bn aircraft bonanza: German airline orders 80 planes from Boeing and Airbus Lufthansa on Tuesday inked a deal worth $9 billion, ordering a total of 80 planes from both Boeing and Airbus, with delivery set between 2026 and 2032, marking the German flagship carrier's first purchase of Boeing narrow-body planes in approximately 30 years. Read more here Monsanto to pay $857 million in damages in PCB contamination case In a major legal blow, a Washington state jury has ruled that Monsanto must pay $857 million to seven former students and parent volunteers of the Sky Valley Education Centre in Monroe, Washington. Read more here Chinese retailers' shift to lower prices raises concerns of deepening deflation In a bid to attract cost-conscious consumers, Chinese retailers are strategically pivoting towards lower-priced goods and services. This shift, while aimed at boosting consumer spending, is raising concerns about the entrenchment of deflationary trends in China's economy. Read more here

Wion Business Wrap | Red Sea crisis, Toshiba delisting, Monsanto's legal woes & more

In the midst of a global economic slowdown, the indian stock markets have remained in a state of euphoria, with the nifty 50 recently shattering the 21,000-point barrier. This meteoric rise, from 20,000 to 21,000 unfolded in a mere 61 trading sessions, prompting seasoned market veterans to underscore the impact of the power of compounding on investor wealth.

How power of compounding works | World Business Watch

Asia-Pacific markets started Friday lower, breaking ranks with wall street which mostly advanced on Thursday, amid mixed economic data from across the region. South Korea’s Kospi led the declines while Japanese stocks opened slightly lower. Mainland Chinese stocks and Hong Kong's Hang Seng slid at the open as investors assessed China’s caixin manufacturing purchasing managers’ index for november which showed that the sector expanded.

Asian markets open lower

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

Turkey and turnaround: Thanksgiving's economic upswing

As Thanksgiving 2023 approaches, the economic landscape in the United States is painting a complex picture, influencing both the cost of celebrations and travel plans.&nbsp;

<a href="https://www.wionews.com/business-economy/turkey-and-turnaround-thanksgivings-economic-upswing-661858">Read more here</a>

OpenAI researchers warned of potent AI discovery before Sam Altman's ouster&nbsp;&nbsp; &nbsp;

Prior to the abrupt ouster of OpenAI CEO Sam Altman, a group of staff researchers reportedly penned a letter to the board revealing a significant breakthrough in artificial intelligence (AI) that could pose risks to humanity. &nbsp;

<a href="https://www.wionews.com/business-economy/openai-researchers-warned-of-potent-ai-discovery-before-sam-altmans-ouster-661793">Read more here</a>

Lawmakers urge SEC probe into Musk's Neuralink amid safety concerns

Four US lawmakers, including Democratic House Reps. Earl Blumenauer, Jim McGovern, Barbara Lee, and Tony Cardenas, have formally requested the Securities and Exchange Commission (SEC) to investigate Elon Musk for potential securities fraud. &nbsp;&nbsp; &nbsp;

<a href="https://www.wionews.com/business-economy/lawmakers-urge-sec-probe-into-musks-neuralink-amid-safety-concerns-661790">Read more here</a>

Zomato, Swiggy hit with GST demand notice, face tax troubles: Report&nbsp;&nbsp; &nbsp;

India's Directorate General of GST Intelligence has issued demand notices to leading food delivery platforms Zomato and Swiggy, alleging non-payment of GST on delivery fees collected from consumers.

<a href="https://www.wionews.com/business-economy/zomato-swiggy-hit-with-gst-demand-notice-face-tax-troubles-report-661795">Read more here</a>

Nvidia soars beyond Wall Street estimates in Q3, but China concerns loom

Chip making giant Nvidia released its third-quarter earnings on Tuesday, once again surpassing Wall Street expectations as the demand for its chips fuelled by the artificial intelligence boom continues to surge. &nbsp;&nbsp;&nbsp; &nbsp;

<a href="https://www.wionews.com/business-economy/nvidia-soars-beyond-wall-street-estimates-in-q3-but-china-concerns-loom-661797">Read more here</a>

Brazil approves $65 million Amazon fund to combat rainforest crimes&nbsp;

Brazil's National Development Bank (BNDES) has given the green signal to allocate 318 million reais ($65 million) from the $1.3 billion Amazon Fund to establish a law enforcement initiative targeting deforestation and environmental crimes in the rainforest.&nbsp;

<a href="https://www.wionews.com/business-economy/brazil-approves-65-million-amazon-fund-to-combat-rainforest-crimes-661827">Read more here</a>

India's stock market predicted to hit record highs amid global caution

According to a Reuters poll of equity strategists, the Indian market is set to defy expectations, eyeing a substantial 10% rise by the end of 2024.

<a href="https://www.wionews.com/business-economy/indias-stock-market-predicted-to-hit-record-highs-amid-global-caution-661801">Read more here</a>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Turkey and turnaround: Thanksgiving's economic upswing As Thanksgiving 2023 approaches, the economic landscape in the United States is painting a complex picture, influencing both the cost of celebrations and travel plans.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Turkey and turnaround: Thanksgiving's economic upswing As Thanksgiving 2023 approaches, the economic landscape in the United States is painting a complex picture, influencing both the cost of celebrations and travel plans. Read more here OpenAI researchers warned of potent AI discovery before Sam Altman's ouster Prior to the abrupt ouster of OpenAI CEO Sam Altman, a group of staff researchers reportedly penned a letter to the board revealing a significant breakthrough in artificial intelligence (AI) that could pose risks to humanity. Read more here Lawmakers urge SEC probe into Musk's Neuralink amid safety concerns Four US lawmakers, including Democratic House Reps. Earl Blumenauer, Jim McGovern, Barbara Lee, and Tony Cardenas, have formally requested the Securities and Exchange Commission (SEC) to investigate Elon Musk for potential securities fraud. Read more here Zomato, Swiggy hit with GST demand notice, face tax troubles: Report India's Directorate General of GST Intelligence has issued demand notices to leading food delivery platforms Zomato and Swiggy, alleging non-payment of GST on delivery fees collected from consumers. Read more here Nvidia soars beyond Wall Street estimates in Q3, but China concerns loom Chip making giant Nvidia released its third-quarter earnings on Tuesday, once again surpassing Wall Street expectations as the demand for its chips fuelled by the artificial intelligence boom continues to surge. Read more here Brazil approves $65 million Amazon fund to combat rainforest crimes Brazil's National Development Bank (BNDES) has given the green signal to allocate 318 million reais ($65 million) from the $1.3 billion Amazon Fund to establish a law enforcement initiative targeting deforestation and environmental crimes in the rainforest. Read more here India's stock market predicted to hit record highs amid global caution According to a Reuters poll of equity strategists, the Indian market is set to defy expectations, eyeing a substantial 10% rise by the end of 2024. Read more here

Wion Business Wrap | OpenAI mystery deepens, India's stock boom & more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

OpenAI confirms Sam Altman's return as CEO 'in principle' after days of boardroom battles 

Following a recent boardroom upheaval that had OpenAI in chaos over the last few days, former CEO Sam Altman is set to return to his position in the company.

<a href="https://www.wionews.com/business-economy/sam-altman-confirms-his-return-to-openai-as-ceo-661426">Read more here</a>

Baidu unfazed by US chip curbs, reveals chip stockpile amid Q3 revenue triumph  

Chinese tech giant Baidu remains resistant to US chip export restrictions, revealing a substantial stockpile of artificial intelligence chips that will shield its business from immediate impacts.  

<a href="https://www.wionews.com/business-economy/baidu-unfazed-by-us-chip-curbs-reveals-chip-stockpile-amid-q3-revenue-triumph-661356">Read more here</a>

Richard Teng is new Binance CEO amid regulatory changes

As part of a comprehensive deal to settle a US criminal investigation against ex-CEO Changpeng Zhao, Richard Teng assumed the role of CEO at Binance on Tuesday.&nbsp; 
      
<a href="https://www.wionews.com/business-economy/richard-teng-is-new-binance-ceo-amid-regulatory-changes-661363">Read more here</a>

Microsoft CTO offers matching compensation to OpenAI employees amid leadership issues  

Microsoft's Chief Technology Officer (CTO) Kevin Scott has extended an olive branch to the disgruntled employees at OpenAI, agreeing to match their current compensation amid the upheaval following the sudden removal of CEO Sam Altman.   

<a href="https://www.wionews.com/business-economy/microsoft-cto-offers-matching-compensation-to-openai-employees-amid-leadership-issues-661399">Read more here</a>

OpenAI, Microsoft face lawsuits over unauthorized use of authors' work in AI training

OpenAI and Microsoft are confronting a new legal challenge as they are being sued over allegations of misusing nonfiction authors' work to train artificial intelligence models, including OpenAI's popular chatbot ChatGPT. &nbsp;

<a href="https://www.wionews.com/business-economy/openai-microsoft-face-lawsuits-over-unauthorized-use-of-authors-work-in-ai-training-661473">Read more here</a>

Elon Musk to donate ad revenue from 'X' to Israeli hospitals, relief work in Gaza  

Amid the ongoing Israel-Hamas conflict, 'X' owner Elon Musk has announced an initiative to contribute to the relief efforts. Musk declared on 'X' that he would donate all advertising revenue associated with the war in Gaza to hospitals in Israel and the Red Cross/Crescent in Gaza. &nbsp; 

<a href="https://www.wionews.com/business-economy/elon-musk-to-donate-ad-revenue-from-x-to-israeli-hospitals-relief-work-in-gaza-661432">Read more here</a>

Argentina's black market peso plummets as libertarian Milei secures presidential win 

Days after libertarian Javier Milei's triumph in Argentina's presidential election, the black-market peso tumbled by 12 per cent to 1,045 per dollar Tuesday. &nbsp;     

<a href="https://www.wionews.com/business-economy/argentinas-black-market-peso-plummets-as-libertarian-milei-secures-presidential-win-661403">Read more here</a>

Canada’s Fiscal Update: Higher deficits, slower debt reduction, and housing boost   

Canada's deficit spending will surpass March forecasts and the reduction of debt will proceed at a slower pace, the mid-year fiscal update by finance ministry said on Tuesday. &nbsp;

<a href="https://www.wionews.com/business-economy/canadas-fiscal-update-higher-deficits-slower-debt-reduction-and-housing-boost-661441">Read more here</a>

China's state banks drive yuan rally amidst dollar weakness: Report  

China's major state-owned banks have actively participated in the currency market, buying the yuan and accelerating its rebound against a weakening US dollar. &nbsp;   

<a href="https://www.wionews.com/business-economy/chinas-state-banks-drive-yuan-rally-amidst-dollar-weakness-report-661466">Read more here</a>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. OpenAI confirms Sam Altman's return as CEO 'in principle' after days of boardroom battles Following a recent boardroom upheaval that had OpenAI in chaos over the last few days, former CEO Sam Altman is set to return to his position in the company.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. OpenAI confirms Sam Altman's return as CEO 'in principle' after days of boardroom battles  Following a recent boardroom upheaval that had OpenAI in chaos over the last few days, former CEO Sam Altman is set to return to his position in the company. Read more here Baidu unfazed by US chip curbs, reveals chip stockpile amid Q3 revenue triumph   Chinese tech giant Baidu remains resistant to US chip export restrictions, revealing a substantial stockpile of artificial intelligence chips that will shield its business from immediate impacts.   Read more here Richard Teng is new Binance CEO amid regulatory changes As part of a comprehensive deal to settle a US criminal investigation against ex-CEO Changpeng Zhao, Richard Teng assumed the role of CEO at Binance on Tuesday.       Read more here Microsoft CTO offers matching compensation to OpenAI employees amid leadership issues   Microsoft's Chief Technology Officer (CTO) Kevin Scott has extended an olive branch to the disgruntled employees at OpenAI, agreeing to match their current compensation amid the upheaval following the sudden removal of CEO Sam Altman.    Read more here OpenAI, Microsoft face lawsuits over unauthorized use of authors' work in AI training OpenAI and Microsoft are confronting a new legal challenge as they are being sued over allegations of misusing nonfiction authors' work to train artificial intelligence models, including OpenAI's popular chatbot ChatGPT. Read more here Elon Musk to donate ad revenue from 'X' to Israeli hospitals, relief work in Gaza   Amid the ongoing Israel-Hamas conflict, 'X' owner Elon Musk has announced an initiative to contribute to the relief efforts. Musk declared on 'X' that he would donate all advertising revenue associated with the war in Gaza to hospitals in Israel and the Red Cross/Crescent in Gaza.   Read more here Argentina's black market peso plummets as libertarian Milei secures presidential win  Days after libertarian Javier Milei's triumph in Argentina's presidential election, the black-market peso tumbled by 12 per cent to 1,045 per dollar Tuesday.       Read more here Canada’s Fiscal Update: Higher deficits, slower debt reduction, and housing boost    Canada's deficit spending will surpass March forecasts and the reduction of debt will proceed at a slower pace, the mid-year fiscal update by finance ministry said on Tuesday. Read more here China's state banks drive yuan rally amidst dollar weakness: Report   China's major state-owned banks have actively participated in the currency market, buying the yuan and accelerating its rebound against a weakening US dollar.     Read more here

Wion Business Wrap | Sam Altman's dramatic comeback, Binance's troubles & more

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