WION's Business Desk brings you this daily round-up of global stories from the world of business and economy.<o:p></o:p>

Renowned economist Robert Solow, Nobel laureate in tech-driven growth, passes away at 99<o:p></o:p>

Robert Solow, the distinguished economics professor at the Massachusetts Institute of Technology (MIT) renowned for his groundbreaking work linking technology to economic growth, has died at the age of 99.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/renowned-economist-robert-solow-nobel-laureate-in-tech-driven-growth-passes-away-at-99-672385">Read more here</a><o:p></o:p>

China tightens grip on rare earths industry, bans key technology exports for national security<o:p></o:p>

In a move to safeguard its dominance in the rare earths sector, China, the world's leading processor of these critical materials, has officially prohibited the export of technology crucial for extracting and separating rare earths.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/china-tightens-grip-on-rare-earths-industry-bans-key-technology-exports-for-national-security-672401">Read more here</a><o:p></o:p>

Diplomatic Thaw: South Korea and Japan renew economic talks after eight-year hiatus<o:p></o:p>

South Korea and Japan engaged in high-level economic talks on Thursday, marking the resumption of discussions that had been stalled for eight years.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/diplomatic-thaw-south-korea-and-japan-renew-economic-talks-after-eight-year-hiatus-672408">Read more here</a><o:p></o:p>

Walmart boosts Indian e-commerce giant Flipkart with $600 mn infusion in latest funding round<o:p></o:p>

Walmart, the largest shareholder in Indian e-commerce powerhouse Flipkart, is gearing up to invest around $600 million in the latest fundraise for the start-up, according to a Flipkart spokesperson.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/walmart-boosts-indian-e-commerce-giant-flipkart-with-600-mn-infusion-in-latest-funding-round-672417">Read more here</a><o:p></o:p>

Nike cuts sales outlook and unveils $2 bn savings plan amid global economic uncertainty<o:p></o:p>

Sportswear giant Nike has revised its annual sales forecast downward, citing cautious consumer spending, weaker online business, and increased promotional activities.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/nike-cuts-sales-outlook-and-unveils-2-bn-savings-plan-amid-global-economic-uncertainty-672426">Read more here</a>

Microsoft's Windows 10 end-of-support plan may lead to massive PC disposal<o:p></o:p>

Microsoft’s decision to cease support for the Windows 10 operating system could result in the disposal of approximately 240 million personal computers (PCs), potentially contributing to a significant increase in landfill waste, according to a report by Canalys Research.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/microsofts-windows-10-end-of-support-plan-may-lead-to-massive-pc-disposal-672434">Read more here</a><o:p></o:p>

Honda recalls 4.5 mn vehicles globally over fuel pump concerns<o:p></o:p>

Honda Motor's American unit has initiated a global recall of approximately 4.5 million vehicles due to potential risks associated with fuel pump failure, according to the Japanese automaker.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/honda-recalls-45-mn-vehicles-globally-over-fuel-pump-concerns-672439">Read more here</a><o:p></o:p>

BSNL suffers data breach, hacker posted some data on dark web: Report<o:p></o:p>

India's state-owned telecom operator Bharat Sanchar Nigam Ltd (BSNL) has reportedly suffered a data breach that puts at risk thousands of users.<o:p></o:p>

<a href="https://www.wionews.com/india-news/bsnl-suffers-data-breach-hacker-posted-some-data-on-dark-web-report-672431">Read more here</a><o:p></o:p>

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Renowned economist Robert Solow, Nobel laureate in tech-driven growth, passes away at 99 Robert Solow, the distinguished economics professor at the Massachusetts Institute of Technology (MIT) renowned for his groundbreaking work linking technology to economic growth, has died at the age of 99.

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Renowned economist Robert Solow, Nobel laureate in tech-driven growth, passes away at 99 Robert Solow, the distinguished economics professor at the Massachusetts Institute of Technology (MIT) renowned for his groundbreaking work linking technology to economic growth, has died at the age of 99. Read more here China tightens grip on rare earths industry, bans key technology exports for national security In a move to safeguard its dominance in the rare earths sector, China, the world's leading processor of these critical materials, has officially prohibited the export of technology crucial for extracting and separating rare earths. Read more here Diplomatic Thaw: South Korea and Japan renew economic talks after eight-year hiatus South Korea and Japan engaged in high-level economic talks on Thursday, marking the resumption of discussions that had been stalled for eight years. Read more here Walmart boosts Indian e-commerce giant Flipkart with $600 mn infusion in latest funding round Walmart, the largest shareholder in Indian e-commerce powerhouse Flipkart, is gearing up to invest around $600 million in the latest fundraise for the start-up, according to a Flipkart spokesperson. Read more here Nike cuts sales outlook and unveils $2 bn savings plan amid global economic uncertainty Sportswear giant Nike has revised its annual sales forecast downward, citing cautious consumer spending, weaker online business, and increased promotional activities. Read more here Microsoft's Windows 10 end-of-support plan may lead to massive PC disposal Microsoft’s decision to cease support for the Windows 10 operating system could result in the disposal of approximately 240 million personal computers (PCs), potentially contributing to a significant increase in landfill waste, according to a report by Canalys Research. Read more here Honda recalls 4.5 mn vehicles globally over fuel pump concerns Honda Motor's American unit has initiated a global recall of approximately 4.5 million vehicles due to potential risks associated with fuel pump failure, according to the Japanese automaker. Read more here BSNL suffers data breach, hacker posted some data on dark web: Report India's state-owned telecom operator Bharat Sanchar Nigam Ltd (BSNL) has reportedly suffered a data breach that puts at risk thousands of users. Read more here WATCH WION LIVE HERE

WION Business Wrap | China’s rare earth’s industry, Talks between Japan and South Korea & more

China on Monday (Aug 21) protested against a statement given by the US, Japan and South Korea wherein they criticised Beijing's “dangerous and aggressive behaviour” in the marine disputes relating to the East and South China Sea.

The statement came on Friday (Aug 18) during a summit hosted by US President Joe Biden to discuss a three-way security cooperation at the Camp David presidential retreat.

On Monday, China hit back at the leaders saying they "smeared and attacked China on Taiwan-related and maritime issues, grossly interfered in China's internal affairs and deliberately sowed discord between China and its neighbours."

Addressing the media. foreign ministry spokesperson Wang Wenbin said China expresses "strong dissatisfaction and firm opposition and has lodged solemn representations with relevant parties".

The Camp David summit marked the first official meeting between US President Joe Biden, his South Korean counterpart, Yoon Suk-yeol, and Japanese Prime Minister Fumio Kishida.

<h2>Trilateral meeting&nbsp;</h2>

The meeting comes in the wake of the thawing of relations between South Korea and Japan amidst China’s growing assertiveness in the Asia-Pacific region also due to a string of recent&nbsp;North Korean missile tests.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/china-lodges-complaint-over-criticisms-received-at-camp-david-627616/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

“We are resolute in our determination to uphold regional security, strengthen Indo-Pacific engagement, and promote common prosperity,” the leaders said in a joint statement.

In the meeting, three countries agreed to a new “duty to consult” security pledge committing them to speak with each other in the event of a security crisis or threat in the Pacific.

The pledge seeks to acknowledge that they share “fundamentally interlinked security environments” and that a threat to one is “a threat to all,” a senior Biden administration official told AP news agency on the condition of anonymity.

Under the pledge, the three countries agree to consult, share information and align their messaging with each other in the face of a threat or crisis, the official said.

<h2>China, North Korea in focus&nbsp;</h2>

Despite it being&nbsp;obvious, Biden maintained that the summit “was not about China”, rather it was focused on broader security issues.

But in their joint summit concluding statement, the three countries noted China’s “dangerous and aggressive” action in the South China Sea and said they “strongly oppose any unilateral attempts to change the status quo in the waters of the Indo-Pacific.”

<a name="html-embed-module-e30000"></a>Yoon particularly highlighted the threat posed by North Korea, saying the three leaders had agreed to improve “our joint response capabilities to North Korea’s nuclear and missile threats, which have become sophisticated more than ever.”

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

China on Monday (Aug 21) protested against a statement given by the US, Japan and South Korea wherein they criticised Beijing's “dangerous and aggressive behaviour” in the marine disputes relating to the East and South China Sea.

China on Monday (Aug 21) protested against a statement given by the US, Japan and South Korea wherein they criticised Beijing's “dangerous and aggressive behaviour” in the marine disputes relating to the East and South China Sea. The statement came on Friday (Aug 18) during a summit hosted by US President Joe Biden to discuss a three-way security cooperation at the Camp David presidential retreat. On Monday, China hit back at the leaders saying they "smeared and attacked China on Taiwan-related and maritime issues, grossly interfered in China's internal affairs and deliberately sowed discord between China and its neighbours." Addressing the media. foreign ministry spokesperson Wang Wenbin said China expresses "strong dissatisfaction and firm opposition and has lodged solemn representations with relevant parties". The Camp David summit marked the first official meeting between US President Joe Biden, his South Korean counterpart, Yoon Suk-yeol, and Japanese Prime Minister Fumio Kishida. Trilateral meeting The meeting comes in the wake of the thawing of relations between South Korea and Japan amidst China’s growing assertiveness in the Asia-Pacific region also due to a string of recent North Korean missile tests. “We are resolute in our determination to uphold regional security, strengthen Indo-Pacific engagement, and promote common prosperity,” the leaders said in a joint statement. In the meeting, three countries agreed to a new “duty to consult” security pledge committing them to speak with each other in the event of a security crisis or threat in the Pacific. The pledge seeks to acknowledge that they share “fundamentally interlinked security environments” and that a threat to one is “a threat to all,” a senior Biden administration official told AP news agency on the condition of anonymity. Under the pledge, the three countries agree to consult, share information and align their messaging with each other in the face of a threat or crisis, the official said. China, North Korea in focus Despite it being obvious, Biden maintained that the summit “was not about China”, rather it was focused on broader security issues. But in their joint summit concluding statement, the three countries noted China’s “dangerous and aggressive” action in the South China Sea and said they “strongly oppose any unilateral attempts to change the status quo in the waters of the Indo-Pacific.” Yoon particularly highlighted the threat posed by North Korea, saying the three leaders had agreed to improve “our joint response capabilities to North Korea’s nuclear and missile threats, which have become sophisticated more than ever.” WATCH WION LIVE HERE

China slams US, South Korea and Japan over their statements on South China Sea

South Korea and Japan are fighting again. This time, a plate of curry is at the centre of the dispute. WION's Palki Sharma tells you all that you need to know.

Gravitas: A plate of curry triggers a fight between Japan and South Korea