The dates for the Lok Sabha elections are likely to be announced by Friday this week, citing sources. The Election Commission's observers' briefing meeting for the general election is currently underway in Delhi. The day-long briefing is aimed at streamlining strategy to ensure the implementation of the model code of conduct for the general elections likely to be held in April-May.

India Elections: First time voter talks about Lok Sabha polls 2024

With former US President Donald Trump facing huge legal expenses in his ongoing trials, including $454 million&nbsp;civil fraud judgment in New York,&nbsp;a piece of good news has trickled down for the&nbsp;Truth Social owner as investors have approved a merger valued at nearly $6 billion.&nbsp;

This is also a bit of a relief for Trump as he gears up for campaigning and seeks to manage the cost of it ahead of the upcoming presidential elections. Shareholders of Digital World Acquisition Corp approved the merger with Trump Media &amp; Technology Group.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/who-are-wwii-ghost-army-troops-honoured-with-congressional-gold-medal-703269">Who are WWII 'Ghost Army' troops honoured with congressional gold medal?</a>

The deal valued Trump's majority stake in Truth Social at around $3.6 billion. Now, the deal is expected to be completed next week, reports said.&nbsp;However, the merger faces challenges. Former Digital World CEO Patrick Orlando, along with Trump's associates Andy Litinsky and Wes Moss, have filed lawsuits seeking additional shares. This has&nbsp;complicated the deal's future.

Also Read |&nbsp;<a href="https://www.wionews.com/world/breaking-shooting-blast-at-concert-hall-near-moscow-details-awaited-703257">Dozens killed, wounded in 'terrorist attack' at concert hall near Moscow</a>

Trump's ability to capitalise on the windfall is restricted, with a six-month lockup period preventing him from selling shares or leveraging them for loans.

Watch |&nbsp;<a href="https://www.wionews.com/videos/undps-future-weather-forecast-hopes-to-drive-climate-action-703271">UNDP's future weather forecast hopes to drive climate action</a>

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Trump's return to social media through Truth Social follows his ban from mainstream platforms, including X, which later reinstated the former US president. The ban was in connection to Trump's comments after the January 6, 2021 Capitol attack.&nbsp;

Trump's initial efforts, as he now looks to return at the stock market, proved unsuccessful. Trump Hotels and Casino Resorts made its public debut in 1995 however, by 2004, Trump's casino enterprise had declared bankruptcy and was removed from the New York Stock Exchange.

(With inputs from agencies)

With former US President Donald Trump facing huge legal expenses in his ongoing trials, including $454 million civil fraud judgment in New York, a piece of good news has trickled down for the Truth Social owner as investors have approved a merger valued at nearly $6 billion.

With former US President Donald Trump facing huge legal expenses in his ongoing trials, including $454 million civil fraud judgment in New York, a piece of good news has trickled down for the Truth Social owner as investors have approved a merger valued at nearly $6 billion. This is also a bit of a relief for Trump as he gears up for campaigning and seeks to manage the cost of it ahead of the upcoming presidential elections. Shareholders of Digital World Acquisition Corp approved the merger with Trump Media & Technology Group. Also Read | Who are WWII 'Ghost Army' troops honoured with congressional gold medal? The deal valued Trump's majority stake in Truth Social at around $3.6 billion. Now, the deal is expected to be completed next week, reports said. However, the merger faces challenges. Former Digital World CEO Patrick Orlando, along with Trump's associates Andy Litinsky and Wes Moss, have filed lawsuits seeking additional shares. This has complicated the deal's future. Also Read | Dozens killed, wounded in 'terrorist attack' at concert hall near Moscow Trump's ability to capitalise on the windfall is restricted, with a six-month lockup period preventing him from selling shares or leveraging them for loans. Watch | UNDP's future weather forecast hopes to drive climate action × Trump's return to social media through Truth Social follows his ban from mainstream platforms, including X, which later reinstated the former US president. The ban was in connection to Trump's comments after the January 6, 2021 Capitol attack. Trump's initial efforts, as he now looks to return at the stock market, proved unsuccessful. Trump Hotels and Casino Resorts made its public debut in 1995 however, by 2004, Trump's casino enterprise had declared bankruptcy and was removed from the New York Stock Exchange. (With inputs from agencies)

Trump to make over $3bn as Digital World shareholders approve merger deal with his media venture

In the next few weeks, India is heading into a general election and experts say that the polls this year are unlikely to Spook investors. Not very long ago India had famously or rather infamously had been grouped as part of Morgan Stanley's fragile-five economies and 10 years later India happens to be the favorite of the investors take a look.

Elections in India this year is unlikely to spook investors

In 2023, economists widely anticipated a recession in the United States as the Federal Reserve raised interest rates to combat high inflation. However, the expected economic downturn never materialised. What are the factors that led to the world's largest economy defying grim expectations?

How the US defied a recession in 2023

China has approved 105 domestic games, signalling a softened stance on gaming. This move follows last week's $80 billion market rout triggered by beijing's decision to tighten gaming industry controls. Tencent and netease, china's top gaming companies, received approvals, indicating government support for online gaming growth. Despite the approvals, investor concerns persist, reflecting lingering fears of potential digital crackdowns.

Beijing's change in stance on gaming after $80 billion rout

China's latest move to curb excessive spending on Gaming. The rules target in-game purchases and compulsive playing behaviour. Watch the video to know more!

Explained: What China's stance on gaming means for investors

Indian stock markets are in a record-high territory. Nifty 50 crossed the 20,000 mark. But what does that mean going forward? Is the Indian stock market in a bubble, or can it rally beyond the psychological number of 20,000

India markets on foreign investors radar

Foreign investors bet big on Indian markets

The financial aftermath following the passing of the Chief of Sahara group Subrata Roy. SEBI, the Capital Market regulator, is grappling with undistributed funds exceeding 25,000 CR rupees. As per SEBI's latest annual report, the regulator issued $16 million in refunds over 11 years to investors of two Sahara group firms. However, the total amount deposited in specially open bank accounts for repayment has aged to more than 3 billion US dollars.

Sahara Group Chief Subrata Roy's passing and regulatory challenges

Despite mounting evidence that the US economy may escape a recession — strategists generally foresee a market slump in 2024. The pessimism on Wall Street presents a predicament for investors with capital at risk. Despite the Fed's best efforts, inflation remains an economic concern.

Challenges and opportunities for investors in 2023

Nearly 10 per cent of women in India own cryptocurrency, which ranks third among all countries, according to a study. Data from the foreign exchange education portal Forex Suggest reveals that there are 63 million female cryptocurrency owners in India, accounting for 9.2 per cent of the female population of around 685 million.

Nearly 10 per cent of Indian women own crypto currency

The American companies operating in China are facing heightened scrutiny from the Chinese authorities. The latest events include the questioning of employees at the management consultancy bain & company in Shanghai. The events coincide with an amendment to an already extensive counter-espionage law in China. The law widens the scope of the kind of materials and data the country deems relevant to the national security. The new law was revised last week and is set to take effect in July.

Investor jitters rise as China tightens screws on US firms

The world fears that the US will enter a recession by the end of 2023. Investors are now eagerly looking to beat the recession and keep their investments safe. In such a volatile environment, one man could be their saviour - the oracle of Omaha - Warren Buffett.

Investors bet on Warren Buffet amid recession fears

It's been a wild ride for Tesla's stock price, with dramatic ups and downs over the past few months. But this week, the electric car maker's valuation plunged below the $500 billion threshold. That has raised concerns among investors and analysts about the company's ability to maintain its profitability.

Tesla's stock price takes a hit

While investors fretted over the fall in bank stocks, the drop in bond yields caused losses for bond investors, mainly banks. How safe is your money in banks, stocks and bonds in an interconnected financial world?

Explained: How safe are your deposits?

On the company's investor day on Wednesday (March 1), engineers from Tesla disclosed their plans to reduce assembly costs in future car generations by 50 per cent.

In addition to Elon Musk, the company's public face, the presentation included more than a dozen other Tesla officials, including Tom Zhu, the new global production leader.

The executives covered a wide range of topics throughout the presentation, including the company's creativity in managing its operations from manufacture to service, as well as a white paper strategy for the world to adopt sustainable energy.

Zach Kirkhorn, the company's chief financial officer, emphasised their commitment to reducing production costs and announced that Tesla's next-generation platform would comprise many vehicles produced in standardised factories.

Tesla's shares dropped more than five&nbsp;per cent in after-hours trading as a result of Musk disappointing investors by failing to reveal the release date of a highly anticipated inexpensive small electric vehicle.

Musk was anticipated to present a strategy for creating a more accessible electric vehicle (EV) that would increase consumer interest in his brand and fend off rivals.

<h2>Tesla vs Market</h2>

Capturing the mass market is critical to Tesla’s annual production goal, which is more than the combined production of two of the world's largest volume vehicle makers — Germany's Volkswagen and Japan's Toyota.

It would also represent a sales volume for Tesla alone of about a quarter of last year's total global car sales. Musk said the key to driving Tesla's sales volume would be bringing prices down for consumers, adding that tesla's discounts offered this year had stoked demand.

The most valuable automaker is Tesla, but its price has fluctuated significantly. Shares have recovered more than 60 per cent this year but are still down almost 50 per cent from their peak in November 2021.

Tesla could only need 10 models, according to Musk, which would result in 2 million annual sales for each model line at the desired manufacturing rate.

In terms of making profitable EVs, Tesla already has an advantage over its competitors.

Peter Bannon, a Tesla executive, illustrated how the company uses data to save expenses. He claimed that customer data revealed Tesla owners did not utilise the sunroof, so "we removed it."

Tesla will need to advance its battery technology despite its recent achievements, which Musk has referred to as the "basic limiting factor" for the switch to sustainable energy and more inexpensive vehicles. Tesla has had difficulty increasing the output of cutting-edge batteries known as 4680s.

But, they said that they were still testing two different production procedures. Executives stated on Wednesday that it was likely they may reach volume production this year.

Tesla's investor day presentation showcased the company's commitment to cutting production costs and capturing the mass market.

While the lack of details about when a more affordable EV will debut was disappointing to investors, Tesla's lead in manufacturing EVs at a profit and dedication to reducing costs gives hope for future success. 
 
(With inputs from agencies)

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On the company's investor day on Wednesday (March 1), engineers from Tesla disclosed their plans to reduce assembly costs in future car generations by 50 per cent.

On the company's investor day on Wednesday (March 1), engineers from Tesla disclosed their plans to reduce assembly costs in future car generations by 50 per cent. In addition to Elon Musk, the company's public face, the presentation included more than a dozen other Tesla officials, including Tom Zhu, the new global production leader. The executives covered a wide range of topics throughout the presentation, including the company's creativity in managing its operations from manufacture to service, as well as a white paper strategy for the world to adopt sustainable energy. Zach Kirkhorn, the company's chief financial officer, emphasised their commitment to reducing production costs and announced that Tesla's next-generation platform would comprise many vehicles produced in standardised factories. Tesla's shares dropped more than five per cent in after-hours trading as a result of Musk disappointing investors by failing to reveal the release date of a highly anticipated inexpensive small electric vehicle. Musk was anticipated to present a strategy for creating a more accessible electric vehicle (EV) that would increase consumer interest in his brand and fend off rivals. Tesla vs Market Capturing the mass market is critical to Tesla’s annual production goal, which is more than the combined production of two of the world's largest volume vehicle makers — Germany's Volkswagen and Japan's Toyota. It would also represent a sales volume for Tesla alone of about a quarter of last year's total global car sales. Musk said the key to driving Tesla's sales volume would be bringing prices down for consumers, adding that tesla's discounts offered this year had stoked demand. The most valuable automaker is Tesla, but its price has fluctuated significantly. Shares have recovered more than 60 per cent this year but are still down almost 50 per cent from their peak in November 2021. Tesla could only need 10 models, according to Musk, which would result in 2 million annual sales for each model line at the desired manufacturing rate. In terms of making profitable EVs, Tesla already has an advantage over its competitors. Peter Bannon, a Tesla executive, illustrated how the company uses data to save expenses. He claimed that customer data revealed Tesla owners did not utilise the sunroof, so "we removed it." Tesla will need to advance its battery technology despite its recent achievements, which Musk has referred to as the "basic limiting factor" for the switch to sustainable energy and more inexpensive vehicles. Tesla has had difficulty increasing the output of cutting-edge batteries known as 4680s. But, they said that they were still testing two different production procedures. Executives stated on Wednesday that it was likely they may reach volume production this year. Tesla's investor day presentation showcased the company's commitment to cutting production costs and capturing the mass market. While the lack of details about when a more affordable EV will debut was disappointing to investors, Tesla's lead in manufacturing EVs at a profit and dedication to reducing costs gives hope for future success. (With inputs from agencies) WATCH WION LIVE HERE:

Tesla’s grand plan to reduce assembly costs fails to charm investors, shares dip

CEO Elon Musk has said that&nbsp;he won’t sell any further shares in Tesla for 18 months or more, in an attempt to pacify shareholders of the EV company who have watched the stock fall&nbsp;nearly half of its value since Musk’s takeover&nbsp;of Twitter.

“I’m not selling any stock for 18 to 24 months,” Musk said during an audio-only Twitter Spaces group conversation on Thursday. Musk then said he wouldn’t sell Tesla shares for two years, but backtracked and said he would pause sales for at least one year.

Musk&nbsp;dumped&nbsp;$2.58 billion&nbsp;worth of Tesla stock last week and has sold nearly $23 billion worth of his car company’s shares since April, when he started gaining ground in Twitter.&nbsp;Over the past two months, Musk has spearheaded a dizzying array of changes that have upset advertisers and alienated users. He laid off half of his staff, took moderators out of contract, and dissolved the Trust and Safety Advisors Council. He stopped enforcing his COVID-19 misinformation rule and filed criminal charges against Dr. Anthony Fauci, an infectious disease expert in the United States.

Also read |&nbsp;<a href="https://www.wionews.com/world/worlds-most-subscribed-youtuber-mr-beast-offers-to-be-twitter-ceo-elon-musk-responds-545829">World's most-subscribed YouTuber Mr Beast offers to be Twitter CEO. Elon Musk responds</a>

Tesla investors are fed up with the 24/7 Twitter clamor. The eccentric CEO is distracted from his main source of wealth, the electric car company, they say. 
Tesla's market cap surpassed $1.1 trillion on April 1st. This was the last trading day before Musk announced that he would buy his Twitter stake. Since then, the company has lost almost two-thirds of its value as rival automakers squeezed Tesla's dominant share of electric car sales.

Tesla shares fell more than&nbsp;one per cent on Friday, to $123.74. They were more than $360 each on April 1 and hit an all-time high of more than $414 in November of 2020.

This week,&nbsp;Tesla amplified the discounts it’s offering&nbsp;through year’s end on its two top-selling models, an indication that demand is slowing for its EVs.

(With inputs from agencies)

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CEO Elon Musk has said that he won’t sell any further shares in Tesla for 18 months or more, in an attempt to pacify shareholders of the EV company who have watched the stock fall nearly half of its value since Musk’s takeover of Twitter.

CEO Elon Musk has said that he won’t sell any further shares in Tesla for 18 months or more, in an attempt to pacify shareholders of the EV company who have watched the stock fall nearly half of its value since Musk’s takeover of Twitter. “I’m not selling any stock for 18 to 24 months,” Musk said during an audio-only Twitter Spaces group conversation on Thursday. Musk then said he wouldn’t sell Tesla shares for two years, but backtracked and said he would pause sales for at least one year. Musk dumped $2.58 billion worth of Tesla stock last week and has sold nearly $23 billion worth of his car company’s shares since April, when he started gaining ground in Twitter. Over the past two months, Musk has spearheaded a dizzying array of changes that have upset advertisers and alienated users. He laid off half of his staff, took moderators out of contract, and dissolved the Trust and Safety Advisors Council. He stopped enforcing his COVID-19 misinformation rule and filed criminal charges against Dr. Anthony Fauci, an infectious disease expert in the United States. Also read | World's most-subscribed YouTuber Mr Beast offers to be Twitter CEO. Elon Musk responds Tesla investors are fed up with the 24/7 Twitter clamor. The eccentric CEO is distracted from his main source of wealth, the electric car company, they say. Tesla's market cap surpassed $1.1 trillion on April 1st. This was the last trading day before Musk announced that he would buy his Twitter stake. Since then, the company has lost almost two-thirds of its value as rival automakers squeezed Tesla's dominant share of electric car sales. Tesla shares fell more than one per cent on Friday, to $123.74. They were more than $360 each on April 1 and hit an all-time high of more than $414 in November of 2020. This week, Tesla amplified the discounts it’s offering through year’s end on its two top-selling models, an indication that demand is slowing for its EVs. (With inputs from agencies) WATCH WION LIVE HERE:

Elon Musk reassures investors, tells them he will pause on Tesla stock sales for 18 to 24 months

Elon Musk's team is hunting for new investors for Twitter, reported news platform Semafor on Friday (December 16). According to the report, Jared Birchall, Musk's money manager reached out to potential investors. They have been offered shares of Twitter at the same price Musk paid while acquiring the company (USD 54.20).

There was no immediate comment from Twitter or Musk.

The social media platform has seen advertisers flee as worries mount about Musk's approach to policing tweets. This has hit Twitter's revenues and its ability to pay interest on the $13 billion debt that Musk took on to buy the company.

Ross Gerber, a Tesla investor who said he put less than $1 million in Musk's original takeover of Twitter, confirmed that he was contacted Thursday evening about another funding round, Semafor reported.

Twitter is grabbing headlines almost every day. Musk has attracted global criticism over the manner in which the 'doxxing' of his jet was handled. Twitter suspended accounts of several journalists who wrote about the issue. This hasn't gone down well with many countries.

Officials from France, Germany, Britain and the European Union condemned the suspensions, with some saying the platform was jeopardizing press freedom.

The episode, which one well-known security researcher labeled the "Thursday Night Massacre", is being regarded by critics as fresh evidence of the billionaire, who considers himself a "free speech absolutist," eliminating speech and users he personally dislikes.

(With inputs from agencies)

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

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Elon Musk's team is hunting for new investors for Twitter, reported news platform Semafor on Friday (December 16). According to the report, Jared Birchall, Musk's money manager reached out to potential investors.

Elon Musk's team is hunting for new investors for Twitter, reported news platform Semafor on Friday (December 16). According to the report, Jared Birchall, Musk's money manager reached out to potential investors. They have been offered shares of Twitter at the same price Musk paid while acquiring the company (USD 54.20). There was no immediate comment from Twitter or Musk. The social media platform has seen advertisers flee as worries mount about Musk's approach to policing tweets. This has hit Twitter's revenues and its ability to pay interest on the $13 billion debt that Musk took on to buy the company. Ross Gerber, a Tesla investor who said he put less than $1 million in Musk's original takeover of Twitter, confirmed that he was contacted Thursday evening about another funding round, Semafor reported. Twitter is grabbing headlines almost every day. Musk has attracted global criticism over the manner in which the 'doxxing' of his jet was handled. Twitter suspended accounts of several journalists who wrote about the issue. This hasn't gone down well with many countries. Officials from France, Germany, Britain and the European Union condemned the suspensions, with some saying the platform was jeopardizing press freedom. The episode, which one well-known security researcher labeled the "Thursday Night Massacre", is being regarded by critics as fresh evidence of the billionaire, who considers himself a "free speech absolutist," eliminating speech and users he personally dislikes. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Elon Musk's team fishes for new investors into Twitter as advertisers flee: Report

Sam Bankman-Fried started this week firmly in the realm of billionaires, but after the collapse of his crypto exchange, FTX, he may find himself out of the club in a matter of days. Priyanka Sharma brings you the details

WION Fineprint | Crypto CEO Sam Bankman-Fried loses billions overnight

According to report, developing countries need to work with investors, rich countries and development banks to secure $1 trillion a year in external financing for climate action by the end of the decade and to match that with their own funds.

WION Climate Tracker | Report: Developing countries need $1 trillion a year in climate finance

Listing of Indian start-ups was in focus last year but within months of listing the lofty valuations of many of them have crashed. The future of investors who are invested in these unicorns is uncertain with losses accumulating with every passing quarter. Nearly 12,000 startup employees have already been fired in India and the funding inflow within the startup ecosystem globally is not as abundant as before.

World Business Watch: Unicorn Start-ups: Unreal valuations, heavy losses

World Business Watch | Unicorn Start-ups: Unreal valuations, heavy losses

Expecting a global recession, investors are worried around the world. Now, the cryptocurrency market is tumbling, with major cryptocurrencies such as Bitcoin slumping below $20,000. For more perspective, we're joined by Rémi Bourgeot, Economist and Technology expert at the French Institute for International and Strategic Affairs.

Cryptocurrency continues to crumble, Bitcoin slumps below $20,000

Amazon.com Inc's&nbsp;investor-led&nbsp;proposal&nbsp;to&nbsp;review&nbsp;its&nbsp;use&nbsp;of&nbsp;plastic&nbsp;won 49 per cent&nbsp;support even as shareholders voted down all the 15 resolutions at the e-commerce giant's annual general meeting, a regulatory filing showed on Friday.

It was the only&nbsp;proposal&nbsp;that came close to reaching the 51% mark for approval.&nbsp;Investors opposed resolutions that challenged the company's policies on various issues, including the treatment of workers and&nbsp;use&nbsp;of non-disclosure agreements.

To be sure, about 13% of the company's voting stock is controlled by Founder and Executive Chairman Jeff Bezos, raising the bar for any effort to win a majority of&nbsp;investor&nbsp;support.

Also read |&nbsp;<a href="https://www.wionews.com/trending/twitteratis-cant-keep-calm-as-amazon-sells-plastic-bucket-for-335-482160">Twitteratis can't keep calm as Amazon sells plastic bucket for $335</a>

The&nbsp;proposal&nbsp;for a report on whether&nbsp;Amazon&nbsp;cloud, surveillance and other capabilities contribute to human rights violation won 40% support. But an overwhelming 87&nbsp;per cent&nbsp;voted down a&nbsp;proposal&nbsp;calling&nbsp;Amazon&nbsp;to&nbsp;review&nbsp;worker safety.

Only 39&nbsp;per cent&nbsp;of votes were in favor of a resolution related to unionisation of workers, but 47&nbsp;per cent&nbsp;backed a report on whether&nbsp;Amazon's lobbying activities were consistent with the best interest of the shareholders.

Also read |&nbsp;<a href="https://www.wionews.com/science/scientists-discover-new-enzyme-that-can-chomp-off-plastic-in-record-16-hours-481062">Scientists discover new enzyme that can chomp off plastic in record 16 hours</a>

A move to&nbsp;review&nbsp;Amazon's facial recognition technology got 41&nbsp;per cent&nbsp;votes in favor, while a report for more details on gender and racial pay managed to get support from just 29% of the shareholders.

The resolutions are non-binding, but companies often take some form of action if they receive backing of 30&nbsp;to 40&nbsp;per cent&nbsp;of votes cast.

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You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Amazon.com Inc's investor-led proposal to review its use of plastic won 49 per cent support even as shareholders voted down all the 15 resolutions at the e-commerce giant's annual general meeting, a regulatory filing showed on Friday.

Amazon.com Inc's investor-led proposal to review its use of plastic won 49 per cent support even as shareholders voted down all the 15 resolutions at the e-commerce giant's annual general meeting, a regulatory filing showed on Friday. It was the only proposal that came close to reaching the 51% mark for approval. Investors opposed resolutions that challenged the company's policies on various issues, including the treatment of workers and use of non-disclosure agreements. To be sure, about 13% of the company's voting stock is controlled by Founder and Executive Chairman Jeff Bezos, raising the bar for any effort to win a majority of investor support. Also read | Twitteratis can't keep calm as Amazon sells plastic bucket for $335 The proposal for a report on whether Amazon cloud, surveillance and other capabilities contribute to human rights violation won 40% support. But an overwhelming 87 per cent voted down a proposal calling Amazon to review worker safety. Only 39 per cent of votes were in favor of a resolution related to unionisation of workers, but 47 per cent backed a report on whether Amazon's lobbying activities were consistent with the best interest of the shareholders. Also read | Scientists discover new enzyme that can chomp off plastic in record 16 hours A move to review Amazon's facial recognition technology got 41 per cent votes in favor, while a report for more details on gender and racial pay managed to get support from just 29% of the shareholders. The resolutions are non-binding, but companies often take some form of action if they receive backing of 30 to 40 per cent of votes cast. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Amazon investor proposal to review plastic use narrowly fails to clear

In an attempt to accumulate $44 billion to buy Twitter, billionaire Elon Musk has already raised $7.14 billion from investors, Tesla CEO revealed. &nbsp;&nbsp;

The investors include crypto exchange Binance, Oracle co-founder Larry Ellison, asset management firms, Brookfield, Fidelity and Sequoia Capital, said media reports. &nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/in-three-years-billionaire-elon-musk-looks-to-take-twitter-to-public-markets-again-says-report-476260" hreflang="en">In three years, billionaire Elon Musk looks to take Twitter to public markets again, says report</a>

Now, the SpaceX head needs to raise $21 billion of equity to fund his takeover of the social media platform. And a substantial amount of debt and loans from global banks is also need in this regard. &nbsp;

Ellison has paid $1 billion, Venture capital firm Sequoia gave $800 million, Dubai-based tech investment firm VyCapital is pitching with $700 million and Binance has contributed with $500 million. &nbsp;

Not just this, Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, who is already an investor in Twitter, will also roll 35 million shares into this&nbsp;bid vehicle. It equates to a $1.9 billion stake at the offer price. &nbsp;

Watch:&nbsp;End of free Twitter? Tesla CEO Elon Musk suggests raft of changes to Twitter

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Earlier, Tesla CEO Elon Musk sold 4.4 million shares of the electric carmaker, US securities filings showed on Thursday. The shares are worth USD 8.5 billion. This mover from the billionaire is likely to help him to generate funds for his proposed acquisition of Twitter. &nbsp;

In a tweet, Musk said that there were no plans to share more Tesla shares. &nbsp;

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(With inputs from agencies)&nbsp;

In an attempt to accumulate $44 billion to buy Twitter, billionaire Elon Musk has already raised $7.14 billion from investors, Tesla CEO revealed. The investors include crypto exchange Binance, Oracle co-founder Larry Ellison, asset management firms, Brookfield, Fidelity and Sequoia Capital, said media reports.

In an attempt to accumulate $44 billion to buy Twitter, billionaire Elon Musk has already raised $7.14 billion from investors, Tesla CEO revealed. The investors include crypto exchange Binance, Oracle co-founder Larry Ellison, asset management firms, Brookfield, Fidelity and Sequoia Capital, said media reports. Also Read | In three years, billionaire Elon Musk looks to take Twitter to public markets again, says report Now, the SpaceX head needs to raise $21 billion of equity to fund his takeover of the social media platform. And a substantial amount of debt and loans from global banks is also need in this regard. Ellison has paid $1 billion, Venture capital firm Sequoia gave $800 million, Dubai-based tech investment firm VyCapital is pitching with $700 million and Binance has contributed with $500 million. Not just this, Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, who is already an investor in Twitter, will also roll 35 million shares into this bid vehicle. It equates to a $1.9 billion stake at the offer price. Watch: End of free Twitter? Tesla CEO Elon Musk suggests raft of changes to Twitter × Earlier, Tesla CEO Elon Musk sold 4.4 million shares of the electric carmaker, US securities filings showed on Thursday. The shares are worth USD 8.5 billion. This mover from the billionaire is likely to help him to generate funds for his proposed acquisition of Twitter. In a tweet, Musk said that there were no plans to share more Tesla shares. WATCH WION LIVE HERE (With inputs from agencies)

Inching closer: To buy Twitter for $44 bn, Elon Musk raises $7.14 bn from Binance, Oracle's Larry Ellison

Investors are worried about slowing growth on and a more aggressive federal reserve the Wall Street ended sharply lower yesterday with NASDAQ closing at its lowest since December of 2020.

NASDAQ registers lowest close since late 2020

Markets have paused for breath after days of volatility, with Asian shares edging up and gold slipping slightly as investors watched the conflict in Ukraine unfold and weighed its economic implications, mainly regarding energy prices.

Asian markets stable after days of volatility, investors draw breath

A group of 50 investors managing more than $4.5 trillion in assets is calling on companies involved in the development and use of facial recognition technology, such as Amazon and Facebook, to do so in an ethical way. 
 
The investor group, which is led by asset manager Candriam, a European division of US&nbsp;financial services company New York Life, said in a statement the technology could infringe on an individual's privacy rights, given the lack of consent of those being identified, and that there is often no official oversight. 
 
The initiative shows how fund managers are increasingly taking up policy issues that were once considered fringe subjects for shareholders as retail investors pour billions of dollars into funds focused on ethical and sustainability criteria. 
 
Human rights advocates say face recognition technology, which can be used to unlock smart phones or verify bank accounts, also has the potential to be used by governments to track citizens and suppress political dissent. 
 
The investor group said it would begin a two-year process of engagement with companies developing or using the technology. It said it considers 34 companies to be leaders in facial recognition, including Amazon, Facebook, and Asian tech companies Alibaba and Huawei. 
 
An Amazon spokesperson declined to comment. The other companies did not immediately comment when contacted. 
 
Amazon said last month it was extending a moratorium it imposed on police use of its facial recognition technology. Civil liberties groups have warned inaccurate matching could lead to unjust arrests. 
 
"For investors to be able to fulfil our own responsibility to respect human rights, we call on companies to proactively assess, disclose, mitigate and remediate human rights risks related to their facial recognition products and services," said Rosa van den Beemt, Responsible Investment Analyst at BMO Global Asset Management, one of the investors that has signed up to the initiative. 
 
The facial recognition technology market is set to grow to around $10 billion in 2020, Candriam said in a report published in March, citing a 2018 survey by Allied Market Research. 
 
Among those to sign up to the investor initiative were Britain's Aviva Investors, Royal London Asset Management, Canada's BMO Global Asset Management, Dutch-based NN Investment Partners and Norway's KLP. 
 
"The increasing deployment and use of facial recognition technologies have human rights implications which are not fully being considered by companies," said Louise Piffaut, Senior ESG analyst at Aviva Investors. 
 
Candriam said there was currently no global framework governing the collection and use of biometric data, but the European Union has proposed its first ever legal framework and China has published a draft standard. 
 
The European Union's privacy watchdog said in April, the technology should be banned in Europe because of its 'deep and non-democratic intrusion' into people's private lives. 
 
(With inputs from agencies)

A group of 50 investors managing more than $4.5 trillion in assets is calling on companies involved in the development and use of facial recognition technology, such as Amazon and Facebook, to do so in an ethical way.

A group of 50 investors managing more than $4.5 trillion in assets is calling on companies involved in the development and use of facial recognition technology, such as Amazon and Facebook, to do so in an ethical way. The investor group, which is led by asset manager Candriam, a European division of US financial services company New York Life, said in a statement the technology could infringe on an individual's privacy rights, given the lack of consent of those being identified, and that there is often no official oversight. The initiative shows how fund managers are increasingly taking up policy issues that were once considered fringe subjects for shareholders as retail investors pour billions of dollars into funds focused on ethical and sustainability criteria. Human rights advocates say face recognition technology, which can be used to unlock smart phones or verify bank accounts, also has the potential to be used by governments to track citizens and suppress political dissent. The investor group said it would begin a two-year process of engagement with companies developing or using the technology. It said it considers 34 companies to be leaders in facial recognition, including Amazon, Facebook, and Asian tech companies Alibaba and Huawei. An Amazon spokesperson declined to comment. The other companies did not immediately comment when contacted. Amazon said last month it was extending a moratorium it imposed on police use of its facial recognition technology. Civil liberties groups have warned inaccurate matching could lead to unjust arrests. "For investors to be able to fulfil our own responsibility to respect human rights, we call on companies to proactively assess, disclose, mitigate and remediate human rights risks related to their facial recognition products and services," said Rosa van den Beemt, Responsible Investment Analyst at BMO Global Asset Management, one of the investors that has signed up to the initiative. The facial recognition technology market is set to grow to around $10 billion in 2020, Candriam said in a report published in March, citing a 2018 survey by Allied Market Research. Among those to sign up to the investor initiative were Britain's Aviva Investors, Royal London Asset Management, Canada's BMO Global Asset Management, Dutch-based NN Investment Partners and Norway's KLP. "The increasing deployment and use of facial recognition technologies have human rights implications which are not fully being considered by companies," said Louise Piffaut, Senior ESG analyst at Aviva Investors. Candriam said there was currently no global framework governing the collection and use of biometric data, but the European Union has proposed its first ever legal framework and China has published a draft standard. The European Union's privacy watchdog said in April, the technology should be banned in Europe because of its 'deep and non-democratic intrusion' into people's private lives. (With inputs from agencies)

Investors call for ethical approach to facial recognition technology

Oil pulled back after hitting fresh multi-year highs on Monday, as investors awaited the outcome of this week's talks between Iran and world powers over a nuclear deal that is expected to boost crude supplies. 
 
Brent crude futures for August fell 38 cents, or 0.5%, to $71.51 a barrel by 0519 GMT, after earlier hitting $72.27, their highest since May 2019. US. West Texas Intermediate crude for July touched $70 for the first time since October 2018 but reversed course to be at $69.32 a barrel, down 30 cents, or 0.4%. 
 
Investors may have sold off some contracts to take profit when WTI hit $70, said Avtar Sandu, a senior commodities manager at Phillips Futures in Singapore. 
 
"The primary concern is about Iranian barrels coming back into the market but I don't think there will be a deal before the Iranian presidential election," he added. 
 
Data showing a 14.6% year-on-year drop in China's crude oil imports in May also weighed on prices. 
 
Both contracts have risen for the past two weeks as fuel demand is rebounding in the United States and Europe after governments loosened COVID-19 restrictions ahead of summer travel. 
 
Global oil demand is expected to exceed supplies in the second half despite a gradual easing of supply cuts by OPEC+ producers, analysts say. 
 
A slowdown in talks between Iran and global powers in reviving a 2015 nuclear deal and a drop in US&nbsp;rig count also supported oil prices. 
 
Iran and global powers will enter a fifth round of talks on June 10 in Vienna that could include Washington lifting economic sanctions on Iranian oil exports. 
 
While the European Union envoy coordinating the negotiations had said he believed a deal would be struck at this week's talks, other senior diplomats have said the most difficult decisions still lie ahead. 
 
Analysts expect Iran, which is having its presidential election on June 18, to increase its production by 500,000 to 1 million barrels per day once sanctions are lifted. 
 
In the United States, the number of oil and natural gas rigs operating fell for the first time in six weeks as growth in drilling slowed. 
 
This "suggests that US&nbsp;oil drillers are less enthusiastic in adding more US&nbsp;oil production and hence reduces the risk of a supply glut in the global oil market in H2 2021," CMC Markets analyst Kelvin Wong said in emailed comments.

Oil pulled back after hitting fresh multi-year highs on Monday, as investors awaited the outcome of this week's talks between Iran and world powers over a nuclear deal that is expected to boost crude supplies.

Oil pulled back after hitting fresh multi-year highs on Monday, as investors awaited the outcome of this week's talks between Iran and world powers over a nuclear deal that is expected to boost crude supplies. Brent crude futures for August fell 38 cents, or 0.5%, to $71.51 a barrel by 0519 GMT, after earlier hitting $72.27, their highest since May 2019. US. West Texas Intermediate crude for July touched $70 for the first time since October 2018 but reversed course to be at $69.32 a barrel, down 30 cents, or 0.4%. Investors may have sold off some contracts to take profit when WTI hit $70, said Avtar Sandu, a senior commodities manager at Phillips Futures in Singapore. "The primary concern is about Iranian barrels coming back into the market but I don't think there will be a deal before the Iranian presidential election," he added. Data showing a 14.6% year-on-year drop in China's crude oil imports in May also weighed on prices. Both contracts have risen for the past two weeks as fuel demand is rebounding in the United States and Europe after governments loosened COVID-19 restrictions ahead of summer travel. Global oil demand is expected to exceed supplies in the second half despite a gradual easing of supply cuts by OPEC+ producers, analysts say. A slowdown in talks between Iran and global powers in reviving a 2015 nuclear deal and a drop in US rig count also supported oil prices. Iran and global powers will enter a fifth round of talks on June 10 in Vienna that could include Washington lifting economic sanctions on Iranian oil exports. While the European Union envoy coordinating the negotiations had said he believed a deal would be struck at this week's talks, other senior diplomats have said the most difficult decisions still lie ahead. Analysts expect Iran, which is having its presidential election on June 18, to increase its production by 500,000 to 1 million barrels per day once sanctions are lifted. In the United States, the number of oil and natural gas rigs operating fell for the first time in six weeks as growth in drilling slowed. This "suggests that US oil drillers are less enthusiastic in adding more US oil production and hence reduces the risk of a supply glut in the global oil market in H2 2021," CMC Markets analyst Kelvin Wong said in emailed comments.

Oil retreats as investors await Iran nuclear talks this week

US President Joe Biden on Thursday expanded a blacklist of Chinese firms that are off-limits to American investors over their links to Beijing's "military-industrial complex," in a sign of Washington's continued pressure campaign against China.

Former US President Donald Trump had prohibited Americans from buying stakes in 31 Chinese companies that were deemed to be supplying or supporting China's military and security apparatus, and Biden's move expands the blacklist to 59.

Also Read |&nbsp;<a href="https://www.wionews.com/world/biden-to-review-donald-trumps-china-investment-blacklist-report-389225">Biden to review Donald Trump's China investment blacklist: Report</a>

The latest batch of sanctions target companies involved in Chinese surveillance technology used to "facilitate repression or serious human rights abuses," which "undermine the security or democratic values of the United States and our allies," according to a White House statement.

The initial list published under Trump included major telecoms, construction and technology firms such as China Mobile, China Telecom, video surveillance firm Hikvision, and China Railway Construction Corp.

It was among a series of measures by the White House aimed at the Asian giant, which have left ties between the two countries severely strained.

Also Read |&nbsp;<a href="https://www.wionews.com/world/us-to-blacklist-dozens-of-chinese-firms-including-smic-report-says-350642">US to blacklist dozens of Chinese firms including SMIC, report says</a>

Before the US order was released, Beijing repeated its outrage at the Trump-era blacklist Thursday and vowed to protect Chinese companies' rights, claiming the blacklist was "politically motivated" and "ignores the facts and actual situation" of the firms involved.

The ban "severely undermines normal market rules and order" and "damages... the interests of global investors, including US investors," foreign ministry spokesman Wang Wenbin said at a routine briefing.

Previously, the sanctions and choice of targets were tied to a congressionally mandated Defense Department report.

While the Biden administration has pledged to take a more diplomatic line with China following the upheaval of his predecessor, he has said he will keep to a strict line on several issues including defense and technology.

Also Read |&nbsp;<a href="https://www.wionews.com/world/us-delays-chinese-investment-bans-impact-on-certain-firms-359737">US delays Chinese investment ban's impact on certain firms</a>

A tough line on China has rare cross-party support in Congress, with lawmakers determined to keep a lid on its growing global clout.

Republican senators Tom Cotton and Marco Rubio, alongside Democrats Gary Peters and Mark Kelly, published a bi-partisan letter earlier this week urging the administration to publish a new list.

"The US government must continue to act boldly in blocking the Chinese Communist Party's economic predation against our industrial base," they said.

US President Joe Biden on Thursday expanded a blacklist of Chinese firms that are off-limits to American investors over their links to Beijing's "military-industrial complex," in a sign of Washington's continued pressure campaign against China.

US President Joe Biden on Thursday expanded a blacklist of Chinese firms that are off-limits to American investors over their links to Beijing's "military-industrial complex," in a sign of Washington's continued pressure campaign against China. Former US President Donald Trump had prohibited Americans from buying stakes in 31 Chinese companies that were deemed to be supplying or supporting China's military and security apparatus, and Biden's move expands the blacklist to 59. Also Read | Biden to review Donald Trump's China investment blacklist: Report The latest batch of sanctions target companies involved in Chinese surveillance technology used to "facilitate repression or serious human rights abuses," which "undermine the security or democratic values of the United States and our allies," according to a White House statement. The initial list published under Trump included major telecoms, construction and technology firms such as China Mobile, China Telecom, video surveillance firm Hikvision, and China Railway Construction Corp. It was among a series of measures by the White House aimed at the Asian giant, which have left ties between the two countries severely strained. Also Read | US to blacklist dozens of Chinese firms including SMIC, report says Before the US order was released, Beijing repeated its outrage at the Trump-era blacklist Thursday and vowed to protect Chinese companies' rights, claiming the blacklist was "politically motivated" and "ignores the facts and actual situation" of the firms involved. The ban "severely undermines normal market rules and order" and "damages... the interests of global investors, including US investors," foreign ministry spokesman Wang Wenbin said at a routine briefing. Previously, the sanctions and choice of targets were tied to a congressionally mandated Defense Department report. While the Biden administration has pledged to take a more diplomatic line with China following the upheaval of his predecessor, he has said he will keep to a strict line on several issues including defense and technology. Also Read | US delays Chinese investment ban's impact on certain firms A tough line on China has rare cross-party support in Congress, with lawmakers determined to keep a lid on its growing global clout. Republican senators Tom Cotton and Marco Rubio, alongside Democrats Gary Peters and Mark Kelly, published a bi-partisan letter earlier this week urging the administration to publish a new list. "The US government must continue to act boldly in blocking the Chinese Communist Party's economic predation against our industrial base," they said.

Joe Biden blacklists 28 more Chinese firms to investors, says White House

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