France is facing its worst bird flu outbreak. About 1,400 sites in France have reported cases. The Government is compensating for farmers' loss.

Government compensates for farmers' loss as France faces its worst bird flu outbreak

Amazon has reported its first quarterly loss since 2015. While the company has reported a loss of over 3.8 billion dollars, a year ago it reported a profit of 8.1 billion dollars during the first quarter.

Amazon stocks plunge as it reports $3.8 billion quarterly loss

Belarus scored three in the second half to beat India 3-0 in an international friendly played in Manama on Saturday.

Goals from Bykau Artsem, Andrei Salav and Hramyka Varely made the difference between the two teams. This was India's first international match against a UEFA side since they last played Azerbaijan in 2012.

Head Coach Igor Stimac made seven changes to the starting line-up which played against Bahrain in the last international friendly three days back.

The Blue Tigers were also hit by injuries to Liston Colaco and Jeakson Singh, and in addition, Rahul Bheke was not available as he had flown back to join his club's preparation for the forthcoming AFC Champions League matches.

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The first shot came from Roshan Singh when he received it in the opposition half but his effort went wide.

Belarus had their first try in the 7th minute when they earned a free kick outside the Indian 18-yard box. But even as Siadzko Pavel aimed at the bottom corner, goalkeeper and captain Gurpreet Singh Sandhu, playing his 50th international match stooped down to gather it with ease.

Four minutes later, Anirudh Thapa played an aerial through ball to Manvir Singh but the rival defence recovered faster not allowing Manvir to have a shy at the goal.

With India defending in numbers, Belarus did enjoy more of the possession but struggled in their search to find the gaps as the Blue Tigers maintained their shape, and tried to stay compact.

In the 39th minute, Manvir was played through behind the Belarus defence. He tried to speed past his marker and even entered the rival box, but the defence managed to snatch it to keep Manvir at bay.

Thereafter, Belarus earned a corner in the 41st minute, and a free-kick down the right flank in the 45th minute. But both the attempts didn't create any danger for the Blue Tigers as both teams headed to the interval locked goalless.

Changing over, Stimac made his first substitution as Yasir Mohammad came in place of Seriton Fernandes. In the very first minute, Belarus made an inroad down the left -- Uladzislau passed to Shauchenka Hleb but an agile Gurpreet was equal to the task.

Two minutes later, Belarus surged into the lead - a long ball from the midfield was followed up by Bykau Artsem as he volleyed it in. The next substitution came up in the 60th minute - Aniket Jadhav replacing VP Suhair.

Belarus earned a free-kick down the left flank in the 65th minute when Roshan fouled Ebonh Maks, and the resultant free-kick, curled in, missed everyone and sailed for a goal kick.

The next minute Belarus doubled their lead. Roshan lost the ball in the midfield, and Maks ran down the middle and set it up on the right for Andrei Salavi to tap it in.

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Sandesh Jhingan came to India's rescue in the 75th minute intercepting in time, thus disallowing Salavi to pull the trigger. The following corner didn`t yield anything for Belarus.

Sandesh was in fact in the thick of action executing a couple more crucial tackles as the match entered the last half. Stimac brought in his third substitution - Chinglensana Singh coming in place of Roshan.

In the 83rd minute, Akash Mishra passed it to Anirudh Thapa, who was quick to cross it into the box. But it stayed just beyond Manvir.

The final goal came at the fag end of the match - Yablonski Yauhen playing it behind the defence for Hramyka Varely to react faster than all, and send it past Gurpreet.

INDIA: Gurpreet Singh Sandhu (captain); Seriton Fernandes (Yasir Mohammad - 46th), Anwar Ali, Sandesh Jhingan, Akash Mishra, Hormipam Ruivah (Pritam Kotal - 90th), Anirudh Thapa, VP Suhair (Aniket Jadhav - 60th), Brandon Fernandes (Danish Farooq - 90th), Roshan Singh (Chinglensana Singh 76`), Manvir Singh.

Belarus scored three in the second half to beat India 3-0 in an international friendly played in Manama on Saturday. Goals from Bykau Artsem, Andrei Salav and Hramyka Varely made the difference between the two teams.

Belarus scored three in the second half to beat India 3-0 in an international friendly played in Manama on Saturday. Goals from Bykau Artsem, Andrei Salav and Hramyka Varely made the difference between the two teams. This was India's first international match against a UEFA side since they last played Azerbaijan in 2012. Head Coach Igor Stimac made seven changes to the starting line-up which played against Bahrain in the last international friendly three days back. The Blue Tigers were also hit by injuries to Liston Colaco and Jeakson Singh, and in addition, Rahul Bheke was not available as he had flown back to join his club's preparation for the forthcoming AFC Champions League matches. ALSO READ: Lionel Messi pays tribute to Argentina fans in possible farewell before FIFA World Cup 2022 The first shot came from Roshan Singh when he received it in the opposition half but his effort went wide. Belarus had their first try in the 7th minute when they earned a free kick outside the Indian 18-yard box. But even as Siadzko Pavel aimed at the bottom corner, goalkeeper and captain Gurpreet Singh Sandhu, playing his 50th international match stooped down to gather it with ease. Four minutes later, Anirudh Thapa played an aerial through ball to Manvir Singh but the rival defence recovered faster not allowing Manvir to have a shy at the goal. With India defending in numbers, Belarus did enjoy more of the possession but struggled in their search to find the gaps as the Blue Tigers maintained their shape, and tried to stay compact. In the 39th minute, Manvir was played through behind the Belarus defence. He tried to speed past his marker and even entered the rival box, but the defence managed to snatch it to keep Manvir at bay. Thereafter, Belarus earned a corner in the 41st minute, and a free-kick down the right flank in the 45th minute. But both the attempts didn't create any danger for the Blue Tigers as both teams headed to the interval locked goalless. Changing over, Stimac made his first substitution as Yasir Mohammad came in place of Seriton Fernandes. In the very first minute, Belarus made an inroad down the left -- Uladzislau passed to Shauchenka Hleb but an agile Gurpreet was equal to the task. Two minutes later, Belarus surged into the lead - a long ball from the midfield was followed up by Bykau Artsem as he volleyed it in. The next substitution came up in the 60th minute - Aniket Jadhav replacing VP Suhair. Belarus earned a free-kick down the left flank in the 65th minute when Roshan fouled Ebonh Maks, and the resultant free-kick, curled in, missed everyone and sailed for a goal kick. The next minute Belarus doubled their lead. Roshan lost the ball in the midfield, and Maks ran down the middle and set it up on the right for Andrei Salavi to tap it in. ALSO READ: Uruguay, Ecuador seal 2022 FIFA World Cup spot in Qatar Sandesh Jhingan came to India's rescue in the 75th minute intercepting in time, thus disallowing Salavi to pull the trigger. The following corner didn`t yield anything for Belarus. Sandesh was in fact in the thick of action executing a couple more crucial tackles as the match entered the last half. Stimac brought in his third substitution - Chinglensana Singh coming in place of Roshan. In the 83rd minute, Akash Mishra passed it to Anirudh Thapa, who was quick to cross it into the box. But it stayed just beyond Manvir. The final goal came at the fag end of the match - Yablonski Yauhen playing it behind the defence for Hramyka Varely to react faster than all, and send it past Gurpreet. INDIA: Gurpreet Singh Sandhu (captain); Seriton Fernandes (Yasir Mohammad - 46th), Anwar Ali, Sandesh Jhingan, Akash Mishra, Hormipam Ruivah (Pritam Kotal - 90th), Anirudh Thapa, VP Suhair (Aniket Jadhav - 60th), Brandon Fernandes (Danish Farooq - 90th), Roshan Singh (Chinglensana Singh 76`), Manvir Singh.

India end Bahrain outing with 3-0 loss to Belarus in international friendly

India women's head coach Ramesh Powar said that the batting performance of the team in the first 20 overs against New Zealand surprised him.

At the same time, Powar was confident that his side will bounce back after New Zealand trashed India by 62 runs in the ICC Women's ODI World Cup on Thursday.&nbsp;

"It was one of those days when things didn't go our way. Honestly, I was also surprised by the way we batted in the first 20 overs. If you look back at the last six games which we played against New Zealand, we were executing our plans well. I think it is the pressure of the World Cup but I don't want to give any excuses," said Ramesh Powar in the pre-match virtual press conference.

ALSO READ:&nbsp;<a href="https://www.wionews.com/sports/it-harmed-our-cricket-former-pakistan-captain-slams-pcb-over-pitch-fiasco-against-australia-461375">'It harmed our cricket': Former Pakistan captain slams PCB over pitch fiasco against Australia</a>

Powar explained how India's batting has been improved since the last three tours and now the team have been scoring more than 280 runs.

"Nothing different. It's been a process for a while. If you have watched us in the last six months or last three tours, we've been improving as a batting unit, we used to struggle to get to 220 and have been scoring 270-280. It is up to the individuals now. As I always say, it is the players who go out there and face that pressure and come out of it with their own skills and character," added Power.

Powar believes that the match against West Indies is a great opportunity for the team India to get back to winning ways.

"This is the right time to put your hand up and put up performances as we have been training for the last six months. We've been to England, Australia and came to NZ early, we got every practice opportunity which was needed. So, it is time as a group to stand up and deliver," he pointed.

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He further added that the Mithali Raj-led side is well aware of how to perform well against the variation of bowling attacks in the World Cup.

"We have been following a particular process for a long period of time on how to address particular bowling attacks or bowlers, be it be off-spinners, pacers, left-arm spinners or leg-spinners. Everyone in this batting unit knows how to react to certain bowling attacks."Mithali Raj-led India will face West Indies in their next match on Saturday.

India women's head coach Ramesh Powar said that the batting performance of the team in the first 20 overs against New Zealand surprised him. At the same time, Powar was confident that his side will bounce back after New Zealand trashed India by 62 runs in the ICC Women's ODI World Cup on Thursday.

India women's head coach Ramesh Powar said that the batting performance of the team in the first 20 overs against New Zealand surprised him. At the same time, Powar was confident that his side will bounce back after New Zealand trashed India by 62 runs in the ICC Women's ODI World Cup on Thursday. "It was one of those days when things didn't go our way. Honestly, I was also surprised by the way we batted in the first 20 overs. If you look back at the last six games which we played against New Zealand, we were executing our plans well. I think it is the pressure of the World Cup but I don't want to give any excuses," said Ramesh Powar in the pre-match virtual press conference. ALSO READ: 'It harmed our cricket': Former Pakistan captain slams PCB over pitch fiasco against Australia Powar explained how India's batting has been improved since the last three tours and now the team have been scoring more than 280 runs. "Nothing different. It's been a process for a while. If you have watched us in the last six months or last three tours, we've been improving as a batting unit, we used to struggle to get to 220 and have been scoring 270-280. It is up to the individuals now. As I always say, it is the players who go out there and face that pressure and come out of it with their own skills and character," added Power. Powar believes that the match against West Indies is a great opportunity for the team India to get back to winning ways. "This is the right time to put your hand up and put up performances as we have been training for the last six months. We've been to England, Australia and came to NZ early, we got every practice opportunity which was needed. So, it is time as a group to stand up and deliver," he pointed. ALSO READ: BCCI set to earn a whopping Rs 8 billion from IPL 2022 sponsorship and other deals - Report He further added that the Mithali Raj-led side is well aware of how to perform well against the variation of bowling attacks in the World Cup. "We have been following a particular process for a long period of time on how to address particular bowling attacks or bowlers, be it be off-spinners, pacers, left-arm spinners or leg-spinners. Everyone in this batting unit knows how to react to certain bowling attacks."Mithali Raj-led India will face West Indies in their next match on Saturday.

Head coach Ramesh Powar 'surprised' by India's batting performance in first 20 overs against NZ

Russia's invasion of Ukraine has taken its extreme form. Several videos on social media show missiles being dropped at public places, killing civilians. As per Ukraine, over 5,000 Russian soldiers have been killed. However, Russian state television talkshows are describing these videos and reports of Russian soldiers killed as “fake."

Initially, the Russian news channels followed Vladimir Putin’s lead in calling the war a “special operation in the Donbas."&nbsp; However, with time some state-run channels started using references of a war.

Russian MP Boris Chernyshev said, "There’s an enormous wave of information. People are showing fakes, they’re showing what are allegedly our dead soldiers. All of that needs to be stopped.”

“Mythbusting” is one of the adjustments that propaganda shows had to make. This was done as evidence of the growing destruction in cities such as Kharkiv and Kyiv made it extremely difficult.&nbsp;

<a href="https://www.wionews.com/world/live-russia-claims-to-have-besieged-two-big-cities-in-ukraine-455211">Also read |&nbsp;LIVE | Ukraine war - Putin planning to proclaim Yanukovych as Ukraine president: Report</a>

On several TV debate shows, guests have started speaking openly about the government’s desire to take over Kyiv.&nbsp;

“It’s just a question of time before they surrender or they are destroyed,” said Igor Korotchenko, a hawkish military journalist.&nbsp; 
“The fall of Kyiv is also a question of the coming three, four, five days, I don’t know exactly,” he added.&nbsp;

Meanwhile, reports claim Putin is planning to proclaim Victor Yanukovych as Ukraine's next president even as President Zelensky has vowed to keep fighting against Russia.

Former President Viktor Yanukovych had come to power in 2010 but was overthrown after violent protests hit the country in 2014. The demonstrations against the former president erupted after he refused to sign a trade deal with European Union (EU) as he sought closer ties with Russia.&nbsp;

He was also the prime minister of the country from 2006 to 2007 and for a brief period before 2005. He was also the governor of Donetsk Oblast in eastern Ukraine from 1997 to 2002.&nbsp;

(With inputs from agencies)

Russia's invasion of Ukraine has taken its extreme form. Several videos on social media show missiles being dropped at public places, killing civilians. As per Ukraine, over 5,000 Russian soldiers have been killed.

Russia's invasion of Ukraine has taken its extreme form. Several videos on social media show missiles being dropped at public places, killing civilians. As per Ukraine, over 5,000 Russian soldiers have been killed. However, Russian state television talkshows are describing these videos and reports of Russian soldiers killed as “fake." Initially, the Russian news channels followed Vladimir Putin’s lead in calling the war a “special operation in the Donbas." However, with time some state-run channels started using references of a war. Russian MP Boris Chernyshev said, "There’s an enormous wave of information. People are showing fakes, they’re showing what are allegedly our dead soldiers. All of that needs to be stopped.” “Mythbusting” is one of the adjustments that propaganda shows had to make. This was done as evidence of the growing destruction in cities such as Kharkiv and Kyiv made it extremely difficult. Also read | LIVE | Ukraine war - Putin planning to proclaim Yanukovych as Ukraine president: Report On several TV debate shows, guests have started speaking openly about the government’s desire to take over Kyiv. “It’s just a question of time before they surrender or they are destroyed,” said Igor Korotchenko, a hawkish military journalist. “The fall of Kyiv is also a question of the coming three, four, five days, I don’t know exactly,” he added. Meanwhile, reports claim Putin is planning to proclaim Victor Yanukovych as Ukraine's next president even as President Zelensky has vowed to keep fighting against Russia. Former President Viktor Yanukovych had come to power in 2010 but was overthrown after violent protests hit the country in 2014. The demonstrations against the former president erupted after he refused to sign a trade deal with European Union (EU) as he sought closer ties with Russia. He was also the prime minister of the country from 2006 to 2007 and for a brief period before 2005. He was also the governor of Donetsk Oblast in eastern Ukraine from 1997 to 2002. (With inputs from agencies)

Russian talkshows describe reports of military losses as 'fake'

A 43-year-old woman from the UK, Claire Muffett-Reece, has revealed that she lost 20 years of memories after procuring a very dangerous disease that started as a cold. One night in 2021, she went to sleep thinking she had a cold. The next day, she slipped into a coma for over two weeks.&nbsp;

Claire lives in Essex, UK, with her husband Scott and their two sons, Jack and Max. She spoke about living with encephalitis or inflammation of the brain, which is why she lost her memory.&nbsp;

During the interview, Scott spoke about how his wife had been suffering from a cold which she might have picked from their son Max, for around two weeks. Also, things were deteriorating and becoming worse with each passing day.&nbsp;

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Tomorrow marks World Encephalitis Day, so catch me and <a href="https://twitter.com/Chipfatinasock?ref_src=twsrc%5Etfw">@Chipfatinasock</a> on <a href="https://twitter.com/PackedLunchC4?ref_src=twsrc%5Etfw">@PackedLunchC4</a> to raise awareness of encephalitis and how serious it is<a href="https://twitter.com/hashtag/worldencephalitisday?src=hash&amp;ref_src=twsrc%5Etfw">#worldencephalitisday</a> <a href="https://twitter.com/hashtag/red4wed?src=hash&amp;ref_src=twsrc%5Etfw">#red4wed</a> <a href="https://twitter.com/hashtag/theencephalitissociety?src=hash&amp;ref_src=twsrc%5Etfw">#theencephalitissociety</a> <a href="https://twitter.com/hashtag/encephalitis?src=hash&amp;ref_src=twsrc%5Etfw">#encephalitis</a> <a href="https://twitter.com/hashtag/abi?src=hash&amp;ref_src=twsrc%5Etfw">#abi</a> <a href="https://twitter.com/hashtag/acquiredbraininjury?src=hash&amp;ref_src=twsrc%5Etfw">#acquiredbraininjury</a> <a href="https://twitter.com/hashtag/stephspackedlunch?src=hash&amp;ref_src=twsrc%5Etfw">#stephspackedlunch</a> <a href="https://twitter.com/hashtag/channel4?src=hash&amp;ref_src=twsrc%5Etfw">#channel4</a> <a href="https://t.co/33VXkBiF5y">pic.twitter.com/33VXkBiF5y</a>
— Claire Muffett-Reece (@MrsMuffettReece) <a href="https://twitter.com/MrsMuffettReece/status/1495875320083369994?ref_src=twsrc%5Etfw">February 21, 2022</a></blockquote>
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In a report by Lad Bible, he said, “And then she went to bed the night before Father's Day, and in the morning, I couldn't wake her up. She then had a rush to the hospital, where she started seizing. And then they put her on a ventilator."

<a href="https://www.wionews.com/world/checking-trolls-social-media-users-may-get-power-to-block-anonymous-accounts-in-uk-456425">Also read |&nbsp;Checking trolls? Social media users may get power to block anonymous accounts in UK</a>

The couple spoke about their harrowing experience on the TV show Steph's Packed Lunch on February 22, which happens to be World Encephalitis day.&nbsp;

Initially, her condition was suspected to have been caused by a brain bleed. However, further tests revealed that she had encephalitis.

Claire explained how the memory loss made her forget several significant life events. While speaking to The Sun, she said,

"Though I knew I had children I loved and recognised, I couldn't remember giving birth, their birthdays, first days at school, their likes or dislikes."

"Thankfully, I remembered everyone I knew - I don't know how Scott would have coped if I'd thought he was a stranger."

She still cannot remember how Scott proposed. "It is kind of all or gone. It is horrible, I am not going to lie," she said.&nbsp;

(With inputs from agencies)

A 43-year-old woman from the UK, Claire Muffett-Reece, has revealed that she lost 20 years of memories after procuring a very dangerous disease that started as a cold.

A 43-year-old woman from the UK, Claire Muffett-Reece, has revealed that she lost 20 years of memories after procuring a very dangerous disease that started as a cold. One night in 2021, she went to sleep thinking she had a cold. The next day, she slipped into a coma for over two weeks. Claire lives in Essex, UK, with her husband Scott and their two sons, Jack and Max. She spoke about living with encephalitis or inflammation of the brain, which is why she lost her memory. During the interview, Scott spoke about how his wife had been suffering from a cold which she might have picked from their son Max, for around two weeks. Also, things were deteriorating and becoming worse with each passing day. Tomorrow marks World Encephalitis Day, so catch me and @Chipfatinasock on @PackedLunchC4 to raise awareness of encephalitis and how serious it is#worldencephalitisday #red4wed #theencephalitissociety #encephalitis #abi #acquiredbraininjury #stephspackedlunch #channel4 pic.twitter.com/33VXkBiF5y — Claire Muffett-Reece (@MrsMuffettReece) February 21, 2022 × In a report by Lad Bible, he said, “And then she went to bed the night before Father's Day, and in the morning, I couldn't wake her up. She then had a rush to the hospital, where she started seizing. And then they put her on a ventilator." Also read | Checking trolls? Social media users may get power to block anonymous accounts in UK The couple spoke about their harrowing experience on the TV show Steph's Packed Lunch on February 22, which happens to be World Encephalitis day. Initially, her condition was suspected to have been caused by a brain bleed. However, further tests revealed that she had encephalitis. Claire explained how the memory loss made her forget several significant life events. While speaking to The Sun, she said, "Though I knew I had children I loved and recognised, I couldn't remember giving birth, their birthdays, first days at school, their likes or dislikes." "Thankfully, I remembered everyone I knew - I don't know how Scott would have coped if I'd thought he was a stranger." She still cannot remember how Scott proposed. "It is kind of all or gone. It is horrible, I am not going to lie," she said. (With inputs from agencies)

Memory loss from cold? This is how a UK woman lost 20 years of her memory

The Enforcement Directorate (ED) has arrested Sanjay Agarwal, Managing Partner of Ghanshayamdas Gems &amp; Jewels, under the Prevention of Money Laundering Act (PMLA) in a bank loan fraud case that caused Rs 67 crore loss to SBI, Hyderabad.As per a press release from ED, the arrest was effected on Friday.

The accused was produced before the PMLA Special Court Hyderabad on February 11, 2022, after which he was sent to 15 days of judicial custody.

The ED had initiated the money-laundering investigation on the basis of an FIR registered by CBI, BS&amp;FB, Bangalore under various sections of the Indian Penal Code (IPC).

Subsequently, the CBI registered another FIR against Agarwal and others relating to fraudulently removing gold and jewellery hypothecated to Punjab National Bank (PNB) against the gold loan availed by his firm and thereby causing a loss of Rs 31.97 Crore to the PNB."

Also read |<a href="https://www.wionews.com/india-news/enforcement-directorate-says-40-loss-in-pnb-mallya-bank-fraud-cases-recovered-393474">&nbsp;Enforcement Directorate says 40% loss in PNB, Mallya bank fraud cases recovered</a>

The investigation by the ED revealed that Sanjay Agarwal is the Managing Partner in Ghanshyamdas Gems and Jewels which is engaged in wholesale trading of gold.

In 2010 and 2011, he fraudulently procured gold bullion from SBI by producing fake &amp; forged bank guarantees and covering letters purportedly issued by PNB and sold the gold bullion in the local market to various jewellers and small traders in cash.

The cash so generated was diverted to several other firms floated by Sanjay Agarwal in the name of his wife, brothers and his employees," added the release.

Later, after default on the gold loan happened, SBI found that the BGs &amp; letters were forged. On August 17, 2011, Sanjay Agarwal and his brothers Ajay and Vinay clandestinely removed the entire stock of gold and jewellery kept at their store in Abids, Hyderabad.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/abg-shipyard-case-all-you-need-to-know-about-indias-biggest-bank-fraud-452974">ABG Shipyard case: All you need to know about India's biggest bank fraud</a>

The stock was already hypothecated to the PNB against gold loan availed by the firm, said the release. Sanjay Agarwal was already lodged in Kolkata Jail in another ED case related to the diversion of `duty-free export bound gold` into the domestic market, the release added.

Further investigation is in progress.

The Enforcement Directorate (ED) has arrested Sanjay Agarwal, Managing Partner of Ghanshayamdas Gems & Jewels, under the Prevention of Money Laundering Act (PMLA) in a bank loan fraud case that caused Rs 67 crore loss to SBI, Hyderabad.

The Enforcement Directorate (ED) has arrested Sanjay Agarwal, Managing Partner of Ghanshayamdas Gems & Jewels, under the Prevention of Money Laundering Act (PMLA) in a bank loan fraud case that caused Rs 67 crore loss to SBI, Hyderabad.As per a press release from ED, the arrest was effected on Friday. The accused was produced before the PMLA Special Court Hyderabad on February 11, 2022, after which he was sent to 15 days of judicial custody. The ED had initiated the money-laundering investigation on the basis of an FIR registered by CBI, BS&FB, Bangalore under various sections of the Indian Penal Code (IPC). Subsequently, the CBI registered another FIR against Agarwal and others relating to fraudulently removing gold and jewellery hypothecated to Punjab National Bank (PNB) against the gold loan availed by his firm and thereby causing a loss of Rs 31.97 Crore to the PNB." Also read | Enforcement Directorate says 40% loss in PNB, Mallya bank fraud cases recovered The investigation by the ED revealed that Sanjay Agarwal is the Managing Partner in Ghanshyamdas Gems and Jewels which is engaged in wholesale trading of gold. In 2010 and 2011, he fraudulently procured gold bullion from SBI by producing fake & forged bank guarantees and covering letters purportedly issued by PNB and sold the gold bullion in the local market to various jewellers and small traders in cash. The cash so generated was diverted to several other firms floated by Sanjay Agarwal in the name of his wife, brothers and his employees," added the release. Later, after default on the gold loan happened, SBI found that the BGs & letters were forged. On August 17, 2011, Sanjay Agarwal and his brothers Ajay and Vinay clandestinely removed the entire stock of gold and jewellery kept at their store in Abids, Hyderabad. Also read | ABG Shipyard case: All you need to know about India's biggest bank fraud The stock was already hypothecated to the PNB against gold loan availed by the firm, said the release. Sanjay Agarwal was already lodged in Kolkata Jail in another ED case related to the diversion of `duty-free export bound gold` into the domestic market, the release added. Further investigation is in progress.

ED arrests one for causing Rs 67-crore loss to SBI

US plane maker Boeing has incurred a 3.5 billion dollar charge in the fourth quarter. This was due to longer than expected delivery delays.

US plane maker Boeing incurs a 3.5 billion dollar charge due to delivery delays

In China's latest crackdown on Hong Kong's independent media, a Hong Kong Court has now denied bail to the two former senior news editors.

Hong Kong court denies bail to two former senior news editors amid crackdown on media

Recent research has revealed that losing weight through exercise appears to be more difficult for obese people.&nbsp;

Initially, the researchers thought that the total energy we spend in a day is the sum of energy expended due to activity and energy used for basic functioning.&nbsp;

<a href="https://www.wionews.com/world/covid-19-virus-origins-us-intelligence-community-says-it-was-not-developed-as-biological-weapon-408909">Also read |&nbsp;COVID-19 virus&nbsp;origins:&nbsp;US intelligence community says it was 'not developed' as biological weapon</a>

However, the preliminary lab research indicates that the simple addition could be misleading.&nbsp;

To further examine this, a group of international scientists analysed measurements of energy expenditure from 1,754 adults from a dataset collected over decades and supplied by the International Atomic Energy Agency.

As per the study, the researchers found that increasing levels of activity by exercising more led to each person’s body compensating by limiting the energy expended on basic metabolic functions over a longer period.

Recent research has revealed that losing weight through exercise appears to be more difficult for obese people. Initially, the researchers thought that the total energy we spend in a day is the sum of energy expended due to activity and energy used for basic functioning.

Recent research has revealed that losing weight through exercise appears to be more difficult for obese people. Initially, the researchers thought that the total energy we spend in a day is the sum of energy expended due to activity and energy used for basic functioning. Also read | COVID-19 virus origins: US intelligence community says it was 'not developed' as biological weapon However, the preliminary lab research indicates that the simple addition could be misleading. To further examine this, a group of international scientists analysed measurements of energy expenditure from 1,754 adults from a dataset collected over decades and supplied by the International Atomic Energy Agency. As per the study, the researchers found that increasing levels of activity by exercising more led to each person’s body compensating by limiting the energy expended on basic metabolic functions over a longer period.

Data suggests weight loss via exercise harder for obese people

Qantas Airways is preparing for international travel with countries with high vaccine rates to resume in December, sending shares higher, as it reported a narrower annual loss of $1.26 billion.

World Business Watch: Qantas aims for international travel from December as loss narrows

SoftBank-backed office-sharing startup WeWork reported a first-quarter net loss of $2.06 billion, as it was hit by restructuring charges while it prepares to go public through a merger with a blank-check firm.

World Business Watch: WeWork reports quarterly loss of $2 bn ahead of public listing

Standard Chartered PLC (StanChart) on Thursday posted a 57% fall in annual profit, missing analyst estimates, on higher credit impairments due to the COVID-19 pandemic.

StanChart, which earns the bulk of its revenue in Asia, posted a pretax profit of $1.61 billion. That compared with $3.71 billion in 2019 and the $1.85 billion average of analyst forecasts compiled by the bank.

Credit impairments last year more than doubled compared with a year earlier to $2.3 billion because of the pandemic, the bank said, but noted the majority of these took place in the first half of the year.

The London-headquartered lender said it would return capital to investors via a 9 cents per share dividend and $254 million buyback, with the total payout being the maximum permitted under temporary 'guardrails' set by the Bank of England.

The central bank last year told Britain's largest lenders to suspend dividend payments and share buybacks for 2020 to help them maintain capital buffers against an expected hit to loan books from the pandemic.

"Having now resumed it, we expect to be able to increase the full-year dividend per share over time as we execute our strategy and progress towards a 10% return on tangible equity," Jose Vinals, Standard Chartered's chairman, said in the exchange filing.

The bank said its return on tangible equity, a key profit metric, would climb from 3% to 7% by 2023.

It also said overall income in 2021 is likely to be similar to 2020's because of the impact of global interest rate cuts.

Standard Chartered PLC (StanChart) on Thursday posted a 57% fall in annual profit, missing analyst estimates, on higher credit impairments due to the COVID-19 pandemic.

Standard Chartered PLC (StanChart) on Thursday posted a 57% fall in annual profit, missing analyst estimates, on higher credit impairments due to the COVID-19 pandemic. StanChart, which earns the bulk of its revenue in Asia, posted a pretax profit of $1.61 billion. That compared with $3.71 billion in 2019 and the $1.85 billion average of analyst forecasts compiled by the bank. Credit impairments last year more than doubled compared with a year earlier to $2.3 billion because of the pandemic, the bank said, but noted the majority of these took place in the first half of the year. The London-headquartered lender said it would return capital to investors via a 9 cents per share dividend and $254 million buyback, with the total payout being the maximum permitted under temporary 'guardrails' set by the Bank of England. The central bank last year told Britain's largest lenders to suspend dividend payments and share buybacks for 2020 to help them maintain capital buffers against an expected hit to loan books from the pandemic. "Having now resumed it, we expect to be able to increase the full-year dividend per share over time as we execute our strategy and progress towards a 10% return on tangible equity," Jose Vinals, Standard Chartered's chairman, said in the exchange filing. The bank said its return on tangible equity, a key profit metric, would climb from 3% to 7% by 2023. It also said overall income in 2021 is likely to be similar to 2020's because of the impact of global interest rate cuts.

Standard Chartered profit falls 57 per cent as COVID inflates bad loans

European aircraft giant Airbus said Thursday it was able to limit its losses last year, even as the airline sector collapsed in the wake of the coronavirus pandemic.

Airbus said in a statement that it booked a net loss of 1.1 billion euros ($1.3 billion) in 2020.

That was a slight improvement over the previous year's bottom-line loss of 1.4 billion euros, when Airbus was hit with a huge fine of 3.6 billion euros in a corruption scandal.

The company's fierce US rival Boeing had a massive loss of $11.9 billion last year as the Covid-19 crisis played out, combined with getting its key 737 MAX aircraft back in the air.

"The 2020 results demonstrate the resilience of Airbus in the most challenging crisis to hit the aerospace industry," said chief executive Guillaume Faury.&nbsp; 
Group revenues plunged to 49.9 billion euros from 70.5 billion euros a year earlier, "driven by the difficult market environment impacting the commercial aircraft business with 34 percent fewer deliveries year-on-year," Airbus said.

A total of 566 commercial aircraft were delivered, comprising 38 A220s, 446 A320s, 19 A330s, 59 A350s and four A380s, compared with 863 aircraft in 2019. 
Airbus said it saw no immediate improvement for the industry's prospects for now.

"Many uncertainties remain for our industry in 2021 as the pandemic continues to impact lives, economies and societies," Faury said.

European aircraft giant Airbus said Thursday it was able to limit its losses last year, even as the airline sector collapsed in the wake of the coronavirus pandemic.

European aircraft giant Airbus said Thursday it was able to limit its losses last year, even as the airline sector collapsed in the wake of the coronavirus pandemic. Airbus said in a statement that it booked a net loss of 1.1 billion euros ($1.3 billion) in 2020. That was a slight improvement over the previous year's bottom-line loss of 1.4 billion euros, when Airbus was hit with a huge fine of 3.6 billion euros in a corruption scandal. The company's fierce US rival Boeing had a massive loss of $11.9 billion last year as the Covid-19 crisis played out, combined with getting its key 737 MAX aircraft back in the air. "The 2020 results demonstrate the resilience of Airbus in the most challenging crisis to hit the aerospace industry," said chief executive Guillaume Faury. Group revenues plunged to 49.9 billion euros from 70.5 billion euros a year earlier, "driven by the difficult market environment impacting the commercial aircraft business with 34 percent fewer deliveries year-on-year," Airbus said. A total of 566 commercial aircraft were delivered, comprising 38 A220s, 446 A320s, 19 A330s, 59 A350s and four A380s, compared with 863 aircraft in 2019. Airbus said it saw no immediate improvement for the industry's prospects for now. "Many uncertainties remain for our industry in 2021 as the pandemic continues to impact lives, economies and societies," Faury said.

Airbus books 1.1-billion-euro loss in 2020 in wake of Covid-19

Royal Dutch Shell announced on Thursday that it had suffered a net loss of USD 21.7 billion in 2020. The coronavirus pandemic-hit year had seen a massive drop in demand for energy.

In 2019, the Anglo-Dutch company had registered a net profit of USD 1.8 billion. Shell's result is similar to British rival BP, which on Tuesday reported a 2020 &nbsp;net loss of $20.3 billion.

Both companies are cutting jobs to tackle the economic fallout from the pandemic.

After governments worldwide closed their doors and airlines grounded planes towards the end of last year's first quarter, oil prices dropped off a cliff, even briefly turning negative.

Prices then rebounded sharply however -- and they soared Tuesday to pre-pandemic levels on the brightening economic outlook as more progress was reported on vaccines.

(With AFP inputs)

Royal Dutch Shell announced on Thursday that it had suffered a net loss of USD 21.7 billion in 2020. The coronavirus pandemic-hit year had seen a massive drop in demand for energy.

Royal Dutch Shell announced on Thursday that it had suffered a net loss of USD 21.7 billion in 2020. The coronavirus pandemic-hit year had seen a massive drop in demand for energy. In 2019, the Anglo-Dutch company had registered a net profit of USD 1.8 billion. Shell's result is similar to British rival BP, which on Tuesday reported a 2020 net loss of $20.3 billion. Both companies are cutting jobs to tackle the economic fallout from the pandemic. After governments worldwide closed their doors and airlines grounded planes towards the end of last year's first quarter, oil prices dropped off a cliff, even briefly turning negative. Prices then rebounded sharply however -- and they soared Tuesday to pre-pandemic levels on the brightening economic outlook as more progress was reported on vaccines. (With AFP inputs)

Oil giant Shell suffered loss of $21 billion in 2020

UK's Home Secretary Priti Patel is under fire after 150,000 arrest records were deleted from the police database. Reports say 150,000 fingerprints, DNA and arrest records have been lost. How did this happen?

Gravitas: U.K. loses 150,000 arrest records

Domestic equity benchmark indices, after having opened at fresh all-time highs on Wednesday morning, ended the day’s trading session deep in the red.

At close, Sensex was 694.92 points, or 1.56 per cent, down at 43,828.10 while Nifty was at 12,858.40, down 196.75 points or 1.51 per cent.

The strong selloff significantly eroded the market-capitalisation of BSE-listed firms. Investors lost about 2.2 lakh crore in a single day as the cumulative m-cap of BSE-listed firms dropped to Rs 172.6 lakh crore on November 25 from 174.82 lakh crore on November 24.

Global markets

World shares rallied to a record peak on Wednesday following an overnight surge that saw the Dow Jones benchmark crack 30,000 for the first time as investors cheered a dramatically improved global outlook.&nbsp;

In Asia, Japan’s Nikkei rallied 0.5% to a 29-year high while MSCI’s index of Asia-Pacific shares outside Japan gave up early gains to trade down 0.2% as Chinese shares were capped by worries about rising debt defaults.

In commodities, oil rose for the fourth straight session on Wednesday as the market shrugged off an industry report showing US crude stockpiles rose more than expected, extending a rally driven by hopes that a Covid-19 vaccine will boost fuel demand.

(With inputs from Reuters)

Domestic equity benchmark indices, after having opened at fresh all-time highs on Wednesday morning, ended the day’s trading session deep in the red. At close, Sensex was 694.

Domestic equity benchmark indices, after having opened at fresh all-time highs on Wednesday morning, ended the day’s trading session deep in the red. At close, Sensex was 694.92 points, or 1.56 per cent, down at 43,828.10 while Nifty was at 12,858.40, down 196.75 points or 1.51 per cent. The strong selloff significantly eroded the market-capitalisation of BSE-listed firms. Investors lost about 2.2 lakh crore in a single day as the cumulative m-cap of BSE-listed firms dropped to Rs 172.6 lakh crore on November 25 from 174.82 lakh crore on November 24. Global markets World shares rallied to a record peak on Wednesday following an overnight surge that saw the Dow Jones benchmark crack 30,000 for the first time as investors cheered a dramatically improved global outlook. In Asia, Japan’s Nikkei rallied 0.5% to a 29-year high while MSCI’s index of Asia-Pacific shares outside Japan gave up early gains to trade down 0.2% as Chinese shares were capped by worries about rising debt defaults. In commodities, oil rose for the fourth straight session on Wednesday as the market shrugged off an industry report showing US crude stockpiles rose more than expected, extending a rally driven by hopes that a Covid-19 vaccine will boost fuel demand. (With inputs from Reuters)

Market closing: Investors lose over 2 lakh crore in a day

An entity linked to the deceased founder of India`s Coffee Day Enterprises Ltd owed the coffee chain 35.35 billion rupees ($472.5 million), an investigation report released by the company showed on Friday.

Coffee Day founder V.G. Siddhartha was found dead in a river in southern India last July in an apparent suicide amid speculation that he was under intense financial strain.

The Bengaluru-headquartered company had then appointed an investigator to scrutinize its accounts and the circumstances leading to the statements made in a letter purportedly written by Siddhartha.

Mysore Amalgamated Coffee Estates Ltd, an entity linked separately to Siddhartha and involved in a business relationship with Coffee Day, owed Coffee Day $472 million as of July 31, 2019 - the day Siddhartha`s deceased body was found by authorities - the synopsis of the investigation report released by Coffee Day to stock exchanges showed on Friday.

About $360 million of that amount still needed to be addressed, the report said.

A significant portion of the amount may have been spent to buy back shares from private equity investors, repay loans and funding investments outside the scope of the investigation, the report said. As a result, the amounts may not be precise, it added.

Coffee Day, which also exports coffee, sells coffee-vending machines and houses a logistics business called Sical, currently had a debt of 32 billion rupees ($427.7 million), it said.

It is India`s largest coffee chain with more than 1,000 cafes that brew cappuccinos and lattes for India`s booming moneyed class, and competes with the likes of Starbucks Corp, Barista and Coca-Cola Co-owned Costa Coffee.

The company, whose revenue has taken a hit in the wake of the COVID-19 pandemic, is in the process of selling off more assets to raise cash and cut debt, it added.

An entity linked to the deceased founder of India`s Coffee Day Enterprises Ltd owed the coffee chain 35.35 billion rupees ($472.5 million), an investigation report released by the company showed on Friday.

An entity linked to the deceased founder of India`s Coffee Day Enterprises Ltd owed the coffee chain 35.35 billion rupees ($472.5 million), an investigation report released by the company showed on Friday. Coffee Day founder V.G. Siddhartha was found dead in a river in southern India last July in an apparent suicide amid speculation that he was under intense financial strain. The Bengaluru-headquartered company had then appointed an investigator to scrutinize its accounts and the circumstances leading to the statements made in a letter purportedly written by Siddhartha. Mysore Amalgamated Coffee Estates Ltd, an entity linked separately to Siddhartha and involved in a business relationship with Coffee Day, owed Coffee Day $472 million as of July 31, 2019 - the day Siddhartha`s deceased body was found by authorities - the synopsis of the investigation report released by Coffee Day to stock exchanges showed on Friday. About $360 million of that amount still needed to be addressed, the report said. A significant portion of the amount may have been spent to buy back shares from private equity investors, repay loans and funding investments outside the scope of the investigation, the report said. As a result, the amounts may not be precise, it added. Coffee Day, which also exports coffee, sells coffee-vending machines and houses a logistics business called Sical, currently had a debt of 32 billion rupees ($427.7 million), it said. It is India`s largest coffee chain with more than 1,000 cafes that brew cappuccinos and lattes for India`s booming moneyed class, and competes with the likes of Starbucks Corp, Barista and Coca-Cola Co-owned Costa Coffee. The company, whose revenue has taken a hit in the wake of the COVID-19 pandemic, is in the process of selling off more assets to raise cash and cut debt, it added.

Coffee Day owed $472 million by deceased founder's firm: Report

<a href="https://www.wionews.com/world/worlds-energy-watchdog-is-undermining-climate-change-battle-critics-say-261730">Climate change</a> could directly cost the world economy $7.9 trillion by mid-century as increased drought, flooding and crop failures hamper growth and threaten infrastructure, the new analysis showed Wednesday.&nbsp;

The Economist Intelligence Unit's (EIU) Climate Change Resilience Index measured the preparedness of the world's 82 largest economies and found that based on current trends the fallout of warming temperatures would shave off three per cent of global GDP by 2050.&nbsp;

Its analysis, which assesses each country's direct exposure to loss as climate change brings more frequent extreme weather events, found Africa was most at-risk, with 4.7 per cent of its GDP in the balance.&nbsp;

In general, developing nations faired poorer in terms of resiliency than richer ones.&nbsp;

"Being rich matters," John Ferguson, EIU country analysis director, told AFP.

"Richer nations are really able to be more resilient towards the impacts of climate change, so this really threatens growth trajectories of the developing world as they try to catch up with the developed world."

"When we are already dealing with global inequality, for the impacts of climate change the developing world's challenges are much greater," he added.

Of the countries evaluated, Angola stood to lose the most, as much as 6.1 per cent of gross domestic product.

The study put this down to a mixture of a lack of quality infrastructure, as well as its geographical exposure to severe drought, soil erosion and rising sea levels.&nbsp;

Land degradation in Angola would prove a "significant" economic hindrance, the report said, given that agriculture is its largest employer.

Nigeria (5.9 per cent negative GDP), Egypt (5.5 per cent), Bangladesh (5.4 per cent) and Venezuela (5.1 per cent) were the next most climate-vulnerable nations identified in the analysis.&nbsp;

Watch: Climate change triggers extreme weather events across the world

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-climate-change-triggers-extreme-weather-events-across-the-world-252909/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Act now, and later

The analysis said <a href="https://www.wionews.com/opinions/climate-change-pandemics-biodiversity-loss-no-country-is-sufficiently-prepared-260057">rising temperatures</a> meant the global economy was projected to hit $250 trillion by 2050, as opposed to $258 trillion with no climate impact.&nbsp;

While the United States, still the world's largest economy at market rates,&nbsp;is forecast to be one of the least impacted, the EIU noted that President Donald Trump's policies represented a "temporary setback" in the climate fight.&nbsp;

Russia was predicted to lose five per cent of GDP by 2050 and will "suffer more than most other countries in the world from the negative effects of climate change", it said. This held true even when potential benefits in increased agriculture were taken into account.&nbsp;

Melting permafrost -- threatening infrastructure such as hydrocarbon pipelines, was forecast to be among the biggest drags on Russia's economy in the coming decades.&nbsp;

Nations agreed in Paris in 2015 to work to limit temperature rises to "well below" two degrees Celsius, and 1.5-C if possible.&nbsp;

To do so, the global economy must rapidly decrease its greenhouse gas emissions,&nbsp;a source of controversy in developing nations which say their economic growth shouldn't suffer after decades of fossil fuel use by wealthier countries.&nbsp;

"The global economy is going to suffer so it's not really a case of the act now or act later. We need to do both," said Ferguson.&nbsp;

"Developing countries can't do this on their own. There needs to be a coordinated global effort to deal with the impacts we are talking about."

<a href="https://www.wionews.com/photos/from-amazon-fires-to-venice-floods-climate-change-triggers-a-series-of-calamities-worldwide-262312">In pictures:&nbsp;From Amazon fires to Venice floods -&nbsp;Climate change triggers a series of calamities worldwide</a>

Climate change could directly cost the world economy $7.9 trillion by mid-century as increased drought, flooding and crop failures hamper growth and threaten infrastructure, the new analysis showed Wednesday.

Climate change could directly cost the world economy $7.9 trillion by mid-century as increased drought, flooding and crop failures hamper growth and threaten infrastructure, the new analysis showed Wednesday. The Economist Intelligence Unit's (EIU) Climate Change Resilience Index measured the preparedness of the world's 82 largest economies and found that based on current trends the fallout of warming temperatures would shave off three per cent of global GDP by 2050. Its analysis, which assesses each country's direct exposure to loss as climate change brings more frequent extreme weather events, found Africa was most at-risk, with 4.7 per cent of its GDP in the balance. In general, developing nations faired poorer in terms of resiliency than richer ones. "Being rich matters," John Ferguson, EIU country analysis director, told AFP. "Richer nations are really able to be more resilient towards the impacts of climate change, so this really threatens growth trajectories of the developing world as they try to catch up with the developed world." "When we are already dealing with global inequality, for the impacts of climate change the developing world's challenges are much greater," he added. Of the countries evaluated, Angola stood to lose the most, as much as 6.1 per cent of gross domestic product. The study put this down to a mixture of a lack of quality infrastructure, as well as its geographical exposure to severe drought, soil erosion and rising sea levels. Land degradation in Angola would prove a "significant" economic hindrance, the report said, given that agriculture is its largest employer. Nigeria (5.9 per cent negative GDP), Egypt (5.5 per cent), Bangladesh (5.4 per cent) and Venezuela (5.1 per cent) were the next most climate-vulnerable nations identified in the analysis. Watch: Climate change triggers extreme weather events across the world Act now, and later The analysis said rising temperatures meant the global economy was projected to hit $250 trillion by 2050, as opposed to $258 trillion with no climate impact. While the United States, still the world's largest economy at market rates, is forecast to be one of the least impacted, the EIU noted that President Donald Trump's policies represented a "temporary setback" in the climate fight. Russia was predicted to lose five per cent of GDP by 2050 and will "suffer more than most other countries in the world from the negative effects of climate change", it said. This held true even when potential benefits in increased agriculture were taken into account. Melting permafrost -- threatening infrastructure such as hydrocarbon pipelines, was forecast to be among the biggest drags on Russia's economy in the coming decades. Nations agreed in Paris in 2015 to work to limit temperature rises to "well below" two degrees Celsius, and 1.5-C if possible. To do so, the global economy must rapidly decrease its greenhouse gas emissions, a source of controversy in developing nations which say their economic growth shouldn't suffer after decades of fossil fuel use by wealthier countries. "The global economy is going to suffer so it's not really a case of the act now or act later. We need to do both," said Ferguson. "Developing countries can't do this on their own. There needs to be a coordinated global effort to deal with the impacts we are talking about." In pictures: From Amazon fires to Venice floods - Climate change triggers a series of calamities worldwide

Climate change and its impact 'to cost world $7.9 trillion' by 2050: Study

Indian men's doubles pair of Satwiksairaj Rankireddy and Chirag Shetty crashed out of the Fuzhou China Open on Saturday. 
&nbsp;

The Indian duo lost to the world number one pair of Marcus Fernaldi Gideon and Kevin Sanjaya Sukamuljo from Indonesia 16-21, 20-22. 
 
In the 40-minute long encounter, Indonesian had the upper hand in the first game. Indian pair came back strong in the second game and gave a tough fight to the opponents to proceed to the title clash. 
 
Earlier, in the quarterfinal match against China's Li Jun Hui and Liu Yu Chen, the Indian duo outclassed the world number three ranked opponents in two straight-game 21-19, 21-15 at the Haixia Olympic Sports Center.

&nbsp;

&nbsp;

Indian men's doubles pair of Satwiksairaj Rankireddy and Chirag Shetty crashed out of the Fuzhou China Open on Saturday. The Indian duo lost to the world number one pair of Marcus Fernaldi Gideon and Kevin Sanjaya Sukamuljo from Indonesia 16-21, 20-22.

Indian men's doubles pair of Satwiksairaj Rankireddy and Chirag Shetty crashed out of the Fuzhou China Open on Saturday. The Indian duo lost to the world number one pair of Marcus Fernaldi Gideon and Kevin Sanjaya Sukamuljo from Indonesia 16-21, 20-22. In the 40-minute long encounter, Indonesian had the upper hand in the first game. Indian pair came back strong in the second game and gave a tough fight to the opponents to proceed to the title clash. Earlier, in the quarterfinal match against China's Li Jun Hui and Liu Yu Chen, the Indian duo outclassed the world number three ranked opponents in two straight-game 21-19, 21-15 at the Haixia Olympic Sports Center.

Fuzhou China Open: Satwiksairaj-Chirag crash out after losing to world's number one pair in semifinal

India's biggest airline IndiGo reported its biggest-ever quarterly loss on higher maintenance costs and cut capacity expansion targets, at a time when the industry is grappling with slowing passenger growth in a sluggish economy.

IndiGo parent InterGlobe Aviation Ltd's net loss grew to 10.66 billion rupees ($150 million) in the three months to September&nbsp;30 from 6.52 billion rupees a year earlier, the only other instance that the airline reported a quarterly loss.

Maintenance costs spiked as IndiGo was forced to reassess the expense of leasing and maintaining older Airbus&nbsp;A320ceo planes to fill a gap caused by the grounding of newer A320neo aircraft due to engine issues, Chief Financial Officer Aditya Pande said on a call with analysts on Thursday.

The company also cut its expectations for capacity expansion for 2019-20 to 25 per cent&nbsp;from 30 per cent, blaming a 3-4 month delay in aircraft deliveries by Airbus. It projected capacity growth of 25 per cent&nbsp;for 2020-21.

The results come against the backdrop of an escalating tussle between IndiGo co-founders and top two shareholders Rakesh Gangwal and Rahul Bhatia over corporate governance issues and future strategy.

Gangwal had alleged that Bhatia's affiliate IGE Group had unusual control over IndiGo. Earlier this month, Bhatia alleged Gangwal had breached shareholder agreements and filed cases in courts in London and the United States, according to media reports.

Some analysts said the feud will not hurt IndiGo's performance, while others believe a prolonged dispute could impact high-level decision making at the Gurugram-based airline.

'Softening economic environment'

IndiGo's quarterly loss also comes as Asia's third-largest economy grows at its slowest pace in years and domestic passenger growth cools.

Although IndiGo flew more customers compared with a year earlier, domestic passenger traffic in India rose only 1.2 per cent&nbsp;year-over-year in September, the slowest increase since March and the second-worst pace in at least five years.

"The revenues in the festive season have been somewhat subdued," Chief Executive Ronojoy Dutta said on the conference call, referring to October, a typically strong period for consumer spending.

"Are we in a softening economic environment? It looks like it."

Dutta also estimated a "flattish" year-over-year change in 2019-20 unit revenue, a measure that compares revenue to flight capacity and is used to gauge efficiency.

Still, IndiGo's quarterly revenue from operations surged 31 per cent&nbsp;to 81.05 billion rupees.

IndiGo and smaller rival SpiceJet Ltd have benefited this year from the collapse of cash-strapped Jet Airways, once India's largest private carrier, as both raced to fill Jet's vacated slots.

IndiGo's overall expenses rose 27.6 per cent to 95.77 billion rupees, while costs related to aircraft repair and maintenance surged 88 per cent&nbsp;to 15.3 billion rupees.

The higher costs are expected to continue for the next couple of quarters and taper off in 2022, CFO Pande said.

India's biggest airline IndiGo reported its biggest-ever quarterly loss on higher maintenance costs and cut capacity expansion targets, at a time when the industry is grappling with slowing passenger growth in a sluggish economy.

India's biggest airline IndiGo reported its biggest-ever quarterly loss on higher maintenance costs and cut capacity expansion targets, at a time when the industry is grappling with slowing passenger growth in a sluggish economy. IndiGo parent InterGlobe Aviation Ltd's net loss grew to 10.66 billion rupees ($150 million) in the three months to September 30 from 6.52 billion rupees a year earlier, the only other instance that the airline reported a quarterly loss. Maintenance costs spiked as IndiGo was forced to reassess the expense of leasing and maintaining older Airbus A320ceo planes to fill a gap caused by the grounding of newer A320neo aircraft due to engine issues, Chief Financial Officer Aditya Pande said on a call with analysts on Thursday. The company also cut its expectations for capacity expansion for 2019-20 to 25 per cent from 30 per cent, blaming a 3-4 month delay in aircraft deliveries by Airbus. It projected capacity growth of 25 per cent for 2020-21. The results come against the backdrop of an escalating tussle between IndiGo co-founders and top two shareholders Rakesh Gangwal and Rahul Bhatia over corporate governance issues and future strategy. Gangwal had alleged that Bhatia's affiliate IGE Group had unusual control over IndiGo. Earlier this month, Bhatia alleged Gangwal had breached shareholder agreements and filed cases in courts in London and the United States, according to media reports. Some analysts said the feud will not hurt IndiGo's performance, while others believe a prolonged dispute could impact high-level decision making at the Gurugram-based airline. 'Softening economic environment' IndiGo's quarterly loss also comes as Asia's third-largest economy grows at its slowest pace in years and domestic passenger growth cools. Although IndiGo flew more customers compared with a year earlier, domestic passenger traffic in India rose only 1.2 per cent year-over-year in September, the slowest increase since March and the second-worst pace in at least five years. "The revenues in the festive season have been somewhat subdued," Chief Executive Ronojoy Dutta said on the conference call, referring to October, a typically strong period for consumer spending. "Are we in a softening economic environment? It looks like it." Dutta also estimated a "flattish" year-over-year change in 2019-20 unit revenue, a measure that compares revenue to flight capacity and is used to gauge efficiency. Still, IndiGo's quarterly revenue from operations surged 31 per cent to 81.05 billion rupees. IndiGo and smaller rival SpiceJet Ltd have benefited this year from the collapse of cash-strapped Jet Airways, once India's largest private carrier, as both raced to fill Jet's vacated slots. IndiGo's overall expenses rose 27.6 per cent to 95.77 billion rupees, while costs related to aircraft repair and maintenance surged 88 per cent to 15.3 billion rupees. The higher costs are expected to continue for the next couple of quarters and taper off in 2022, CFO Pande said.

IndiGo reports biggest quarterly loss, cuts expansion targets

National carrier <a href="https://www.wionews.com/india-news/air-india-training-iaf-pilots-to-fly-new-boeing-777-aircraft-for-vvip-fleet-254905">Air India (AI)</a> is facing mass resignation by the pilots as they are unhappy with their salary and promotion. 
 
Around 120 Airbus A-320 pilots tendered their resignation after their demands pertaining to the salary hike and promotion were not paid heed to by the AI management. 
 
This came in the backdrop of the Central government's decision to initiate the process of divestment of Air India's stake, which has a debt of over Rs 60,000 crore. 
 
Speaking to ANI, a pilot who had recently resigned, said, "AI management should listen to our grievances. Our demand regarding salary hike and promotion is long pending before them but they have failed to give a strong assurance." 
 
He added that the pilots are staring in the face of the adversity as they have to pay back hefty loans. "Even we pilots are not able to withdraw our salary on time," he said. 
 
<a href="https://www.wionews.com/world/government-aims-to-sell-air-india-other-firms-by-march-2020-says-official-251457">The pilots are first hired on the contractual basis</a> for five years with a low salary, he claimed, adding that they were hopeful of getting a salary hike and promotion as they gain experience, but to no avail. 
 
The disgruntled pilots are sure that they will get a job somewhere else as the market is currently open. As of now, IndigoAir, GoAir, Vistara and Air Asia, Indian airlines are operating Airbus A-320 flights. 
 
On being asked if the operations of the national carrier will suffer due to the mass resignation, the Air India spokesperson said that it has surplus pilots. "AI operation will not suffer at any cost, due to resignation," the spokesperson added. 
 
At present, Air India has a total of 2000 pilots out of which 400 are executive.

National carrier Air India (AI) is facing mass resignation by the pilots as they are unhappy with their salary and promotion. Around 120 Airbus A-320 pilots tendered their resignation after their demands pertaining to the salary hike and promotion were not paid heed to by the AI management.

National carrier Air India (AI) is facing mass resignation by the pilots as they are unhappy with their salary and promotion. Around 120 Airbus A-320 pilots tendered their resignation after their demands pertaining to the salary hike and promotion were not paid heed to by the AI management. This came in the backdrop of the Central government's decision to initiate the process of divestment of Air India's stake, which has a debt of over Rs 60,000 crore. Speaking to ANI, a pilot who had recently resigned, said, "AI management should listen to our grievances. Our demand regarding salary hike and promotion is long pending before them but they have failed to give a strong assurance." He added that the pilots are staring in the face of the adversity as they have to pay back hefty loans. "Even we pilots are not able to withdraw our salary on time," he said. The pilots are first hired on the contractual basis for five years with a low salary, he claimed, adding that they were hopeful of getting a salary hike and promotion as they gain experience, but to no avail. The disgruntled pilots are sure that they will get a job somewhere else as the market is currently open. As of now, IndigoAir, GoAir, Vistara and Air Asia, Indian airlines are operating Airbus A-320 flights. On being asked if the operations of the national carrier will suffer due to the mass resignation, the Air India spokesperson said that it has surplus pilots. "AI operation will not suffer at any cost, due to resignation," the spokesperson added. At present, Air India has a total of 2000 pilots out of which 400 are executive.

Air India faces mass resignation ahead of divestment

British fashion retailer Ted Baker Plc reported a first-half pretax loss and warned of a slow start to the second half of the year on Thursday, hurt by unseasonably warm weather, heavy discounting by competitors and weak consumer demand.

The company, which had earlier flagged an "extremely difficult" start to the year, reported a pre-tax loss of 23 million pounds ($28.27 million), compared to a profit of 24.5 million pounds a year ago, for the six months ended Aug. 10.

Ted Baker said the slower start will hit its full-year performance and cautioned that second-half results would be lower if the hurdles persist.

British fashion retailer Ted Baker Plc reported a first-half pretax loss and warned of a slow start to the second half of the year on Thursday, hurt by unseasonably warm weather, heavy discounting by competitors and weak consumer demand.

British fashion retailer Ted Baker Plc reported a first-half pretax loss and warned of a slow start to the second half of the year on Thursday, hurt by unseasonably warm weather, heavy discounting by competitors and weak consumer demand. The company, which had earlier flagged an "extremely difficult" start to the year, reported a pre-tax loss of 23 million pounds ($28.27 million), compared to a profit of 24.5 million pounds a year ago, for the six months ended Aug. 10. Ted Baker said the slower start will hit its full-year performance and cautioned that second-half results would be lower if the hurdles persist.

Ted Baker posts loss, warns on full-year results

H&amp;M, the world's second-biggest fashion retailer, reported on Thursday its first quarterly rise in pretax profit in over two years and said efforts to meet rapid changes in its industry were on track.

<a href="https://www.wionews.com/world/hm-suspends-brazil-leather-purchases-over-amazon-fires-247906">H&amp;M</a> has been spending heavily on reviving its business in the face of years of falling profits and growing inventories due to slowing sales at its core brand's stores amid tougher competition and changing shopping habits.

Its shares have spiked 46 per cent this year, and 58 per cent from the 13-year low seen in 2018, on hopes it is getting back on track.

But they are still at just half of their 2015 record level.

Pretax profit in the June through August period beat expectations, growing to 5.0 billion crowns from a year-ago 4.01 billion.

Analysts had on average forecast a rise to 4.93 billion crowns, according to Refinitiv data.

The increase was the Swedish group's first since the second quarter of 2017.

Profit growth was helped by accelerating sales growth on the back of strong demand for summer collections and market share gains.

"The continued development of more full-price sales and reduced markdowns contributed to a 26 per cent increase in operating profit in the third quarter, all while maintaining a high level of activity in our transformation work," CEO Karl-Johan Persson said in a statement.

The operating profit margin rose to 8.0 per cent from 7.1 per cent.

Inventories increased 9 per cent to 42.0 billion crowns at the end of the third quarter, equivalent to 18.5 per cent of sales.

However, H&amp;M said that measured in local currencies, they shrank by 1 per cent while the composition of the stock had kept improving.

Markdowns decreased for a fourth straight quarter, by 2 percentage point in relation to sales.

H&amp;M had in June predicted a 1.5 percentage point decrease.

The company broke the habit by not providing an outlook for markdowns in the current quarter.

H&amp;M said sales in September, the first month of its fourth quarter, grew 8 per cent in local currencies.

H&M, the world's second-biggest fashion retailer, reported on Thursday its first quarterly rise in pretax profit in over two years and said efforts to meet rapid changes in its industry were on track.

H&M, the world's second-biggest fashion retailer, reported on Thursday its first quarterly rise in pretax profit in over two years and said efforts to meet rapid changes in its industry were on track. H&M has been spending heavily on reviving its business in the face of years of falling profits and growing inventories due to slowing sales at its core brand's stores amid tougher competition and changing shopping habits. Its shares have spiked 46 per cent this year, and 58 per cent from the 13-year low seen in 2018, on hopes it is getting back on track. But they are still at just half of their 2015 record level. Pretax profit in the June through August period beat expectations, growing to 5.0 billion crowns from a year-ago 4.01 billion. Analysts had on average forecast a rise to 4.93 billion crowns, according to Refinitiv data. The increase was the Swedish group's first since the second quarter of 2017. Profit growth was helped by accelerating sales growth on the back of strong demand for summer collections and market share gains. "The continued development of more full-price sales and reduced markdowns contributed to a 26 per cent increase in operating profit in the third quarter, all while maintaining a high level of activity in our transformation work," CEO Karl-Johan Persson said in a statement. The operating profit margin rose to 8.0 per cent from 7.1 per cent. Inventories increased 9 per cent to 42.0 billion crowns at the end of the third quarter, equivalent to 18.5 per cent of sales. However, H&M said that measured in local currencies, they shrank by 1 per cent while the composition of the stock had kept improving. Markdowns decreased for a fourth straight quarter, by 2 percentage point in relation to sales. H&M had in June predicted a 1.5 percentage point decrease. The company broke the habit by not providing an outlook for markdowns in the current quarter. H&M said sales in September, the first month of its fourth quarter, grew 8 per cent in local currencies.

H&M posts first quarterly profit rise in over two years

India's&nbsp;rice&nbsp;exports&nbsp;in&nbsp;April-June&nbsp;dived&nbsp;28.2%&nbsp;from a year ago to 2.35 million tonnes, a government body said on Monday, as demand for non-basmati&nbsp;rice&nbsp;was subdued from African buyers.

The country's non-basmati&nbsp;rice&nbsp;exports&nbsp;plunged 43% during the period to 1.2 million tonnes, the Agricultural and Processed Food Products Export Development Authority (APEDA) said in a statement.

India's&nbsp;rice&nbsp;exports&nbsp;in 2019/20 are likely to fall to their lowest level in seven years, industry officials said last month, as <a href="https://www.wionews.com/south-asia/india-rice-rates-dip-as-demand-slows-bangladesh-to-review-export-ban-211739">weak demand from African countries</a> weighs and shippers absorb the absence of government incentives that supported previous sales.

New Delhi is the world's biggest exporter of&nbsp;rice, buffalo meat and guar gum.

The country's buffalo meat&nbsp;exports&nbsp;during the period eased to 275,398 tonnes from 276,450 tonnes a year ago, it said.

India's&nbsp;guar gum&nbsp;exports&nbsp;dropped 5.5% to 127,700 tonnes on lower demand from the United States, while pulses&nbsp;exports&nbsp;more than halved to 45,344 tonnes, the APEDA said.

India's rice exports in April-June dived 28.2% from a year ago to 2.35 million tonnes, a government body said on Monday, as demand for non-basmati rice was subdued from African buyers.

India's rice exports in April-June dived 28.2% from a year ago to 2.35 million tonnes, a government body said on Monday, as demand for non-basmati rice was subdued from African buyers. The country's non-basmati rice exports plunged 43% during the period to 1.2 million tonnes, the Agricultural and Processed Food Products Export Development Authority (APEDA) said in a statement. India's rice exports in 2019/20 are likely to fall to their lowest level in seven years, industry officials said last month, as weak demand from African countries weighs and shippers absorb the absence of government incentives that supported previous sales. New Delhi is the world's biggest exporter of rice, buffalo meat and guar gum. The country's buffalo meat exports during the period eased to 275,398 tonnes from 276,450 tonnes a year ago, it said. India's guar gum exports dropped 5.5% to 127,700 tonnes on lower demand from the United States, while pulses exports more than halved to 45,344 tonnes, the APEDA said.

India's April-June rice exports dive 28.2%

Russian economic growth will hover around 1.8 per cent for the next several years unless Moscow enacts structural reforms, the International Monetary Fund said Friday.

While spending on public infrastructure and a deeply unpopular pension reform could boost business activity, "absent deeper structural reforms, long-run growth is projected to settle around 1.8 per cent," an IMF statement said.

President Vladimir Putin last year launched 12 "national projects" to modernise the economy and improve Russians' quality of life.

But economic activity has nonetheless stalled this year.

The IMF predicts the growth of 1.2 per cent in 2019.

The World Bank last month gave the same figure, revised lower from a previous 1.8 per cent.

The national projects include programmes in healthcare, housing, the digital economy, environment, and others that should be carried out over five years starting from 2019, to the cost of $400 billion.

More than a quarter of that is to be funded by investors.

The IMF said these projects "have the potential to stimulate activity" but only if implemented effectively and combined with other reforms.

"Ambitious structural reforms will be important to raise growth," the IMF said, stressing the need for Moscow to create a "vibrant private sector."

Russian economic growth will hover around 1.8 per cent for the next several years unless Moscow enacts structural reforms, the International Monetary Fund said Friday.

Russian economic growth will hover around 1.8 per cent for the next several years unless Moscow enacts structural reforms, the International Monetary Fund said Friday. While spending on public infrastructure and a deeply unpopular pension reform could boost business activity, "absent deeper structural reforms, long-run growth is projected to settle around 1.8 per cent," an IMF statement said. President Vladimir Putin last year launched 12 "national projects" to modernise the economy and improve Russians' quality of life. But economic activity has nonetheless stalled this year. The IMF predicts the growth of 1.2 per cent in 2019. The World Bank last month gave the same figure, revised lower from a previous 1.8 per cent. The national projects include programmes in healthcare, housing, the digital economy, environment, and others that should be carried out over five years starting from 2019, to the cost of $400 billion. More than a quarter of that is to be funded by investors. The IMF said these projects "have the potential to stimulate activity" but only if implemented effectively and combined with other reforms. "Ambitious structural reforms will be important to raise growth," the IMF said, stressing the need for Moscow to create a "vibrant private sector."

Absent reforms, Russian growth eyed at 1.8%: International Monetary Fund

<a href="https://www.wionews.com/business-economy/reliance-jio-overtakes-bharti-airtel-to-become-number-2-operator-237066">Telecom operator Bharti Airtel Ltd</a> reported a worse-than-expected quarterly loss on Thursday, as the company lost more customers and spent more to upgrade its 4G network during the quarter.

The company's net loss for the three months ended June 30 was 28.66 billion rupees ($415.00 million), compared to a profit of 973 million rupees a year ago. Revenue rose 4.7 per cent.

Analysts, on average, were expecting the company to report a loss of 10.17 billion rupees, according to Refinitiv data.

New Delhi-based Airtel said its monthly churn rate in mobile services business, a measure of the number of customers it lost, grew to 2.6 per cent for the quarter, compared with 2 per cent&nbsp;a year ago.

Government data showed last month Reliance Industries Ltd's telecom unit Jio pipped Airtel to become India's second-largest operator by subscribers as of May.

Telecom operator Bharti Airtel Ltd reported a worse-than-expected quarterly loss on Thursday, as the company lost more customers and spent more to upgrade its 4G network during the quarter.

Telecom operator Bharti Airtel Ltd reported a worse-than-expected quarterly loss on Thursday, as the company lost more customers and spent more to upgrade its 4G network during the quarter. The company's net loss for the three months ended June 30 was 28.66 billion rupees ($415.00 million), compared to a profit of 973 million rupees a year ago. Revenue rose 4.7 per cent. Analysts, on average, were expecting the company to report a loss of 10.17 billion rupees, according to Refinitiv data. New Delhi-based Airtel said its monthly churn rate in mobile services business, a measure of the number of customers it lost, grew to 2.6 per cent for the quarter, compared with 2 per cent a year ago. Government data showed last month Reliance Industries Ltd's telecom unit Jio pipped Airtel to become India's second-largest operator by subscribers as of May.

Bharti Airtel reports worse than expected June-quarter loss

Boeing has posted its biggest-ever quarterly loss, while its 737 Max remains grounded after two fatal crashes. Watch this video to know more.

Boeing posts biggest loss in a decade

China stares at a loss of $7.77 billion because of the heaviest downpour in 50 years

China lashed by flood; Heaviest downpour in 50 years

Ryanair on Monday unveiled plans for an overhaul to create four subsidiaries, as the Irish no-frills airline revealed also a third-quarter loss of 20 million euros and said a no-deal Brexit "remains worryingly high".

Mirroring a set-up by British Airways and Iberia owner IAG, a statement said Ryanair planned to have four distinct operations, each with its own chief executive.

The airline's current chief executive, Michael O'Leary, will head up the overall group, Ryanair said. Under him will be Ryanair DAC overseeing the Irish operations and there will be also Ryanair UK, Laudamotion for its Austrian business and Ryanair Sun, or Polish unit.

"Having agreed to this group strategy as the best way to grow Ryanair, Sun, Lauda and other possible airline brands, Michael O'Leary has agreed a new five-year contract as group CEO," the statement said.

It added: "Over the next 12 months Ryanair Holdings Plc will move to a group structure not dissimilar to that of IAG.&nbsp;

"A small senior management team will oversee the development of four airline subsidiaries... (focusing) upon efficient capital allocation, cost reductions, aircraft acquisitions, and small scale M&amp;A opportunities," the statement said

On the latest group earnings performance, O'Leary said that while the 20 million euros ($23 million) net loss was "disappointing", the group takes "comfort that this was entirely due to weaker than expected airfares".

Last month, Ryanair cut its annual profit forecast for a second time, blaming lower airfares caused by overcapacity in the European short-haul sector.

Following Monday's update, Ryanair's share price slumped 4.4 per cent to 10.94 euros.

“For all the controversy and success, investors are entitled to at least question if O'Leary is the right man to take the company forward given the patchy recent track record and a stalling share price," said Russ Mould, investment director at AJ Bell.

"A new management structure... will probably put some distance between him and the unions."

Ryanair's recent performance has been hit also by pan-European strikes last year that forced it to cancel flights, affecting thousands of passengers, and offer improved pay deals to staff via landmark deals with unions.

On Monday meanwhile, the Dublin-based airline again spoke out on Brexit.

"The risk of a 'no-deal' Brexit remains worryingly high. While we hope that common sense will prevail and lead to either a delay in Brexit or agreement on the 21-month transition deal currently on the table, we have taken all necessary steps to protect Ryanair’s business in a no-deal environment," the statement said.&nbsp;

Britain accounts for about one-quarter of revenues at Ryanair, causing the airline to warn frequently about potential fallout from the UK's rocky path to exiting the European Union.

And while the airline sector as a whole took a knock last year from high oil prices, a sharp reduction in fuel costs in recent months has removed such pressures.

But the European short-haul sector remains weighed down by fierce competition despite some consolidation, including Ryanair's purchase of Austrian carrier Laudamotion in 2018.&nbsp;

Ryanair on Monday unveiled plans for an overhaul to create four subsidiaries, as the Irish no-frills airline revealed also a third-quarter loss of 20 million euros and said a no-deal Brexit "remains worryingly high".

Ryanair on Monday unveiled plans for an overhaul to create four subsidiaries, as the Irish no-frills airline revealed also a third-quarter loss of 20 million euros and said a no-deal Brexit "remains worryingly high". Mirroring a set-up by British Airways and Iberia owner IAG, a statement said Ryanair planned to have four distinct operations, each with its own chief executive. The airline's current chief executive, Michael O'Leary, will head up the overall group, Ryanair said. Under him will be Ryanair DAC overseeing the Irish operations and there will be also Ryanair UK, Laudamotion for its Austrian business and Ryanair Sun, or Polish unit. "Having agreed to this group strategy as the best way to grow Ryanair, Sun, Lauda and other possible airline brands, Michael O'Leary has agreed a new five-year contract as group CEO," the statement said. It added: "Over the next 12 months Ryanair Holdings Plc will move to a group structure not dissimilar to that of IAG. "A small senior management team will oversee the development of four airline subsidiaries... (focusing) upon efficient capital allocation, cost reductions, aircraft acquisitions, and small scale M&A opportunities," the statement said On the latest group earnings performance, O'Leary said that while the 20 million euros ($23 million) net loss was "disappointing", the group takes "comfort that this was entirely due to weaker than expected airfares". Last month, Ryanair cut its annual profit forecast for a second time, blaming lower airfares caused by overcapacity in the European short-haul sector. Following Monday's update, Ryanair's share price slumped 4.4 per cent to 10.94 euros. “For all the controversy and success, investors are entitled to at least question if O'Leary is the right man to take the company forward given the patchy recent track record and a stalling share price," said Russ Mould, investment director at AJ Bell. "A new management structure... will probably put some distance between him and the unions." Ryanair's recent performance has been hit also by pan-European strikes last year that forced it to cancel flights, affecting thousands of passengers, and offer improved pay deals to staff via landmark deals with unions. On Monday meanwhile, the Dublin-based airline again spoke out on Brexit. "The risk of a 'no-deal' Brexit remains worryingly high. While we hope that common sense will prevail and lead to either a delay in Brexit or agreement on the 21-month transition deal currently on the table, we have taken all necessary steps to protect Ryanair’s business in a no-deal environment," the statement said. Britain accounts for about one-quarter of revenues at Ryanair, causing the airline to warn frequently about potential fallout from the UK's rocky path to exiting the European Union. And while the airline sector as a whole took a knock last year from high oil prices, a sharp reduction in fuel costs in recent months has removed such pressures. But the European short-haul sector remains weighed down by fierce competition despite some consolidation, including Ryanair's purchase of Austrian carrier Laudamotion in 2018.

Ryanair to restructure, posts quarterly loss

Six of the 10 most-valued Indian companies suffered a combined erosion of Rs 89,531.31 crore from their <a href="http://www.wionews.com/business-economy/six-of-top-10-companies-lose-rs-54916-crore-in-m-cap-182615">market valuation </a>last week, with Tata Consultancy Services (TCS) alone accounting for over Rs 34,000 crore.

Reliance Industries (RIL), HUL, Infosys, Kotak Mahindra Bank and Maruti Suzuki were also among the losers, while HDFC Bank, ITC, HDFC and State Bank of India (SBI) finished the week ended Friday with gains.

The <a href="http://www.wionews.com/business-economy/markets-close-in-green-sensex-rises-77-points-185065">marke</a>t capitalisation (m-cap) of TCS slumped Rs 34,521.94 crore to Rs 7,11,921.19 crore and that of Infosys plunged Rs 26,143.34 crore to Rs 2,82,105.44 crore.

Valuation of Hindustan Unilever Ltd (HUL) dived Rs 11,515.94 crore to Rs 3,90,416.08 crore and RIL tanked Rs 8,493.67 crore to Rs 6,96,195.94 crore.

Also, Kotak Mahindra Bank's m-cap declined Rs 5,311.51 crore to Rs 2,34,087.97 crore, while Maruti Suzuki stood at Rs 2,27,670.19 crore with a loss of Rs 3,544.91 crore.

On the other hand, HDFC added Rs 7,823.28 crore to its m-cap to reach Rs 3,35,165.94 crore and HDFC Bank soared Rs 4,825.33 crore to Rs 5,74,009.79 crore.

SBI went up by Rs 2,231.15 crore to reach Rs 2,60,285.60 crore and ITC's valuation stood at Rs 3,38,575.91 crore with a gain of Rs 1,040.83 crore. 
In the ranking of top-10 firms in terms of m-cap, TCS stood at the number one position, followed by RIL, HDFC Bank, HUL, ITC, HDFC, Infosys, SBI, Kotak Mahindra Bank and Maruti Suzuki.

Over the last week, the Sensex declined 220.86 points to end at 35,742.07.

Six of the 10 most-valued Indian companies suffered a combined erosion of Rs 89,531.31 crore from their market valuation last week, with Tata Consultancy Services (TCS) alone accounting for over Rs 34,000 crore.

Six of the 10 most-valued Indian companies suffered a combined erosion of Rs 89,531.31 crore from their market valuation last week, with Tata Consultancy Services (TCS) alone accounting for over Rs 34,000 crore. Reliance Industries (RIL), HUL, Infosys, Kotak Mahindra Bank and Maruti Suzuki were also among the losers, while HDFC Bank, ITC, HDFC and State Bank of India (SBI) finished the week ended Friday with gains. The market capitalisation (m-cap) of TCS slumped Rs 34,521.94 crore to Rs 7,11,921.19 crore and that of Infosys plunged Rs 26,143.34 crore to Rs 2,82,105.44 crore. Valuation of Hindustan Unilever Ltd (HUL) dived Rs 11,515.94 crore to Rs 3,90,416.08 crore and RIL tanked Rs 8,493.67 crore to Rs 6,96,195.94 crore. Also, Kotak Mahindra Bank's m-cap declined Rs 5,311.51 crore to Rs 2,34,087.97 crore, while Maruti Suzuki stood at Rs 2,27,670.19 crore with a loss of Rs 3,544.91 crore. On the other hand, HDFC added Rs 7,823.28 crore to its m-cap to reach Rs 3,35,165.94 crore and HDFC Bank soared Rs 4,825.33 crore to Rs 5,74,009.79 crore. SBI went up by Rs 2,231.15 crore to reach Rs 2,60,285.60 crore and ITC's valuation stood at Rs 3,38,575.91 crore with a gain of Rs 1,040.83 crore. In the ranking of top-10 firms in terms of m-cap, TCS stood at the number one position, followed by RIL, HDFC Bank, HUL, ITC, HDFC, Infosys, SBI, Kotak Mahindra Bank and Maruti Suzuki. Over the last week, the Sensex declined 220.86 points to end at 35,742.07.

Top six companies lose Rs 89,531 crore in market cap last week

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