Meta Platforms Inc's India head Ajit Mohan has quit after four years in the role to join rival Snap Inc, the companies said on Thursday, a high-profile exit for the Facebook parent in its biggest market.

WION Business News | Facebook-parent Meta's India head Ajit Mohan quits

Hong Kong and the Greater Bay Area can expect to see substantial growth in investment inflows from Saudi Arabia and its oil-rich neighbours, a top Bahrain-based fund manager has predicted.

WION Business News | Gulf investments in Hong Kong set to rise: Reports

Since Elon Musk's Twitter takeover, employees in the company have been kept in the dark. There is fear and across Twitter's headquarters in San Francisco regarding job cuts. In the latest, Twitter has sent an email to employees saying Twitter's new owner Elon Musk will begin mass layoffs.

WION Business News | Twitter to begin mass layoffs on Friday

In order to fulfil the rising demand for air travel and the resulting delays in the delivery of new aircraft, InterGlobe Aviation Ltd, the owner of IndiGo, the leading airline in India, announced on Friday that it is considering "wet leasing" aircraft.&nbsp;

A "wet lease" arrangement is one in which the lessor provides the aircraft and personnel while still maintaining operational control of the flights.&nbsp;

Following the release of IndiGo's second-quarter loss report, the airline's new Chief Executive Officer Pieter Elbers revealed that the company has been prolonging some of its current leases and delaying the return of aircraft.

"Another element which is under discussion today, and we are still in the final stages of clarifying, is a possible wet lease operation," Elbers said.

The demand for air travel has increased to levels that are very similar to those seen before the Covid outbreak, both domestically and abroad.&nbsp;

After its loss for the July-September period worsened because of high fuel expenses and foreign exchange losses, IndiGo said it was optimistic about returning to operational profitability in the current quarter.&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/india-news/watch-starbucks-co-founder-relishes-dosa-in-bengaluru-gives-3-star-rating-531184">Watch: Starbucks co-founder relishes Dosa in Bengaluru, gives 3-star rating</a>

The airline anticipates an increase in capacity, as defined by the number of available seats per kilometre, of around 25 per cent&nbsp;from the same period last year. Additionally, it kept its forecast for a 13–17 per cent&nbsp;rise in capacity for the current fiscal year.

"In the coming years, we will build on our strong (domestic)foundations with more international aspirations," Elbers said.

According to IndiGo, fuel prices increased by more than three times during the second quarter compared to the same period last year, and rupee-related foreign exchange losses were 12 billion rupees ($145.88 million) for the three months.

(with inputs from agencies) 
&nbsp;

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In order to fulfil the rising demand for air travel and the resulting delays in the delivery of new aircraft, InterGlobe Aviation Ltd, the owner of IndiGo, the leading airline in India, announced on Friday that it is considering "wet leasing" aircraft.

In order to fulfil the rising demand for air travel and the resulting delays in the delivery of new aircraft, InterGlobe Aviation Ltd, the owner of IndiGo, the leading airline in India, announced on Friday that it is considering "wet leasing" aircraft. A "wet lease" arrangement is one in which the lessor provides the aircraft and personnel while still maintaining operational control of the flights. Following the release of IndiGo's second-quarter loss report, the airline's new Chief Executive Officer Pieter Elbers revealed that the company has been prolonging some of its current leases and delaying the return of aircraft. "Another element which is under discussion today, and we are still in the final stages of clarifying, is a possible wet lease operation," Elbers said. The demand for air travel has increased to levels that are very similar to those seen before the Covid outbreak, both domestically and abroad. After its loss for the July-September period worsened because of high fuel expenses and foreign exchange losses, IndiGo said it was optimistic about returning to operational profitability in the current quarter. Also Read: Watch: Starbucks co-founder relishes Dosa in Bengaluru, gives 3-star rating The airline anticipates an increase in capacity, as defined by the number of available seats per kilometre, of around 25 per cent from the same period last year. Additionally, it kept its forecast for a 13–17 per cent rise in capacity for the current fiscal year. "In the coming years, we will build on our strong (domestic)foundations with more international aspirations," Elbers said. According to IndiGo, fuel prices increased by more than three times during the second quarter compared to the same period last year, and rupee-related foreign exchange losses were 12 billion rupees ($145.88 million) for the three months. (with inputs from agencies)

IndiGo may 'wet lease' planes to meet growing demand for air travel

Asian equities rose on Friday, boosted by Hong Kong and China stocks, while the dollar was set for its best week in more than a month as investors priced in the prospect of the Federal Reserve taking interest rates above 5% next year.

WION Business News | China leads Asia stocks higher

Russia is making another strategic retreat. Officials in Kherson say Moscow is likely to pull its troops from the West Bank. Civilians have also been urged to leave the region, the move will mean another blow to Russian efforts but Ukraine is cautious.

Russia signals retreat in southern Ukraine, Kyiv fears it could be a trap

The stakes are high for the 2022 midterm elections and the Democrats have now taken a defensive stance. US President Joe Biden is spending a bulk of his time trying to woe California, Illinois and New Mexico as well as the battleground state of Pennsylvania.

US Midterm elections: US President Joe Biden takes defensive stance in campaign's closing days

Pakistan's ousted Prime Minister, Imran Khan, has survived a gun attack during his recent long march in the eastern city of Wazirabad.

Shots of former Pakistan PM Imran Khan from hospital after being shot in the leg

Former Pakistan PM Imran Khan is now in stable condition after there was an assassination attempt on him during his long march. The firing left Imran Khan and nine others injured and one dead, the suspect has been detained. WION in an exclusive conversation with Imtiaz Gul, senior journalist from Islamabad, Pakistan.

Former Pakistan PM Imran Khan, his aides injured after firing at rally, one person killed

German Chancellor Olaf Scholz has arrived in China, his one-day visit will make him the first G7 leader to visit China since the start of the pandemic. The high-stakes with it is also being closely watched on how serious Germany is about reducing its economic reliance on Asia's rising superpower. WION in an exclusive conversation with Einar Tangen, political and economic commentator.

German Chancellor arrives in China, Scholz's coalition uncertain about its relation with Beijing

Former Pakistan PM Imran Khan is now in stable condition after there was an assassination attempt on him during his long march. The firing left Imran Khan and nine others injured and one dead, the suspect has been detained.

Imran Khan stable after suffering bullet injury; Pakistan PM, politicians slam assassination bid

US midterm elections on November 8: 'We've got more to do,' says US President Joe Biden

A Russian-installed official in southern Ukraine said on Thursday (November 3) that Russian troops are likely to retreat from the west bank of Dnipro river in Kherson.&nbsp;In other news, US&nbsp;House Speaker Nancy Pelosi announced that her husband Paul Pelosi has been released from a San Francisco hospital and is recovering from his injuries including a skull fracture. Meanwhile,&nbsp;the South Korean military said that overnight North Korea fired at least 80 artillery rounds into the maritime border zone. Finally,&nbsp;German Chancellor Olaf Scholz arrived in Beijing on Friday (November 04) in an effort to strengthen the economic ties between the two countries.&nbsp;

Click on the headlines to read more:

<a href="https://www.wionews.com/world/russia-hints-retreat-in-southern-ukraine-but-kyiv-thinks-its-a-trap-531050">Russia hints retreat in southern Ukraine, but Kyiv thinks it's a trap</a>

<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2020/11/09/169039-untitled-design-14.jpg" />

"Most likely our units, our soldiers, will leave for the left (eastern) bank," Kirill Stremousov, the Russian-installed deputy civilian administrator of the Kherson region, said in an interview on Thursday with Solovyov Live, a pro-Kremlin online media outlet.

&nbsp;

<a href="https://www.wionews.com/world/report-paul-pelosi-released-from-hospital-six-days-after-being-attacked-531032">US: Paul Pelosi discharged from San Francisco hospital a week after being attacked</a>

<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2022/10/29/306964-untitled-design-77.png" />

“The Pelosi family is thankful for the beautiful outpouring of love, support and prayers from around the world,” said the speaker in a statement issued by her office.&nbsp;

<a href="https://www.wionews.com/world/north-korea-fired-at-least-80-artillery-rounds-into-the-sea-says-south-korea-531034">North Korea fired at least 80 artillery rounds into the sea, says South Korea</a>

<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2022/11/04/308353-wion-images-72.png" />

According to the report, shortly before midnight on Thursday (local time), the South Korean military detected more than 80 artillery rounds fired into the sea by North Korea which they said is in violation of the 2018 inter-Korean agreement.&nbsp;

<a href="https://www.wionews.com/world/german-chancellor-olaf-scholz-begins-critical-financial-one-day-visit-to-china-531049">German Chancellor Olaf Scholz begins critical 'financial' one-day visit to China</a>

<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2022/11/04/308372-00032mq6ga.jpg" />

Scholz will be meeting Premier Lo Keqaiang and Chinese President Xi Jinping&nbsp;during his one-day visit despite facing criticism for his government relying on China with fear of repeating the same mistake.&nbsp;

Watch |&nbsp;Gravitas: The gunman who attacked Imran Khan

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A Russian-installed official in southern Ukraine said on Thursday (November 3) that Russian troops are likely to retreat from the west bank of Dnipro river in Kherson.

A Russian-installed official in southern Ukraine said on Thursday (November 3) that Russian troops are likely to retreat from the west bank of Dnipro river in Kherson. In other news, US House Speaker Nancy Pelosi announced that her husband Paul Pelosi has been released from a San Francisco hospital and is recovering from his injuries including a skull fracture. Meanwhile, the South Korean military said that overnight North Korea fired at least 80 artillery rounds into the maritime border zone. Finally, German Chancellor Olaf Scholz arrived in Beijing on Friday (November 04) in an effort to strengthen the economic ties between the two countries. Click on the headlines to read more: Russia hints retreat in southern Ukraine, but Kyiv thinks it's a trap "Most likely our units, our soldiers, will leave for the left (eastern) bank," Kirill Stremousov, the Russian-installed deputy civilian administrator of the Kherson region, said in an interview on Thursday with Solovyov Live, a pro-Kremlin online media outlet. US: Paul Pelosi discharged from San Francisco hospital a week after being attacked “The Pelosi family is thankful for the beautiful outpouring of love, support and prayers from around the world,” said the speaker in a statement issued by her office. North Korea fired at least 80 artillery rounds into the sea, says South Korea According to the report, shortly before midnight on Thursday (local time), the South Korean military detected more than 80 artillery rounds fired into the sea by North Korea which they said is in violation of the 2018 inter-Korean agreement. German Chancellor Olaf Scholz begins critical 'financial' one-day visit to China Scholz will be meeting Premier Lo Keqaiang and Chinese President Xi Jinping during his one-day visit despite facing criticism for his government relying on China with fear of repeating the same mistake. Watch | Gravitas: The gunman who attacked Imran Khan

Morning news brief: Russia hints at retreat, North Korea fires over 80 artillery rounds, and more

Indonesia's Ambassador to India Ina Krisnamurthi has emphasized on "dialogue" as Russia-Ukraine conflict looms large over the G20 Bali summit due to take place later this month. The summit takes place from 15th to 16th November at the Nusa Dua Convention Center in the Bali, a well-known tourist destination nicknamed the "Island of the gods".

Indonesia's envoy Krisnamurthi speaks to WION on the G20 Bali summit | WION Exclusive

While the whole planet is recording rising temperatures, global warming seems to be particularly faster in one continent over the past three decades. Temperatures across Europe have increased at more than twice the global average.

WION Climate Tracker: Europe warming at twice the global average

The world is already struggling to deal with global warming but a new report has surfaced which suggests that methane emissions in the United Kingdom could be cut by more than 40 percent by the year 2030.

WION Climate Tracker: A way to cut UK’s methane emissions by 2030

German Chancellor Olaf Scholz has arrived in China, his one-day visit will make him the first G7 leader to visit China since the start of the pandemic. The high-stakes with it is also being closely watched on how serious Germany is about reducing its economic reliance on Asia's rising superpower.

German Chancellor Olaf Scholz arrives in China, will hold talks with Xi Jinping on Ukraine war

Pakistan: Assassination bid on Imran Khan, PTI chief sustains bullet injuries in both legs

The Powerball jackpot hits 1.5 billion for the Saturday drawing. See this report to know more about the biggest lottery event in the U.S.

U.S Powerball on a roll

Since Elon Musk's Twitter takeover, the employees in the company have been kept in the dark. There is fear and red spread across Twitter's headquarters in San Francisco regarding the job cuts.

Chaos and confusion reign ahead of Twitter layoffs, 7500 employees fear job cut

After an assassination attempt during a march, former Pakistan Prime Minister Imran Khan is now in a stable condition. The firing left Imran Khan and nine others injured.

Pakistan: 'Imran Khan sustains bullet injures in both legs', main suspect under arrest

Now, days after going for massive layoffs giving rise to questions about the sustainability of Indian unicorns at tech firm, Byju's has announced the iconic footballer Lionel Messi as its new global brand ambassador.

Byju's under scanner for ill-treatment of staff, struggling to raise funds

Tensions in the Korean Peninsula are peaking. South Korea has scrambled its jets after Seoul detected about 180 North Korean war planes. The North Korean Jets were detected flying north of the military border for over four hours on Friday.

After launching a barrage of missiles, North Korea scrambles jets

Korean Peninsula Tensions: 180 North Korean warplanes spotted north of South Korean border

Under a new joint initiative announced in June, Taiwan and the United States will hold in-person talks on trade next week. In New York, the program is vehemently being opposed by China which views the self-governed island nation of Taiwan as a part of its own territory.

US: Conceptual discussions to take place, 11 trade areas to be discussed

The Royal Mail recently unveiled a Christmas stamp collection featuring the Queen's silhouette.&nbsp;

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet">
Our 2022 <a href="https://twitter.com/hashtag/Christmas?src=hash&amp;ref_src=twsrc%5Etfw">#Christmas</a> stamps have arrived! 
 
Six perfectly illustrated stamps capturing the magic of the Nativity story. 
 
Explore the collection today here: <a href="https://t.co/vnZz1AaA6v">https://t.co/vnZz1AaA6v</a> <a href="https://t.co/sISt4kM1pp">pic.twitter.com/sISt4kM1pp</a>
— Royal Mail (@RoyalMail) <a href="https://twitter.com/RoyalMail/status/1588089856709869569?ref_src=twsrc%5Etfw">November 3, 2022</a></blockquote>
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The collection was made in collaboration with Kent-based artist Katie Ponder.&nbsp;

The director of the Royal Mail, David Gold said that the 'charming style' will strike the appropriate tone for the holiday season.&nbsp;

<a href="https://www.wionews.com/world/queen-camillas-aircraft-attacked-by-bird-strike-suffers-damage-no-injuries-reported-529588">Also read |&nbsp;Queen Camilla's aircraft suffers damage after bird strike, no injuries reported</a>

The six Art Deco-inspired stamps illustrate scenes from the Nativity including the journey of Bethlehem, BBC reported.&nbsp;&nbsp;

This will be the last time her late Majesty's silhouette will be featured on a festive stamp.

Customers will be able to scan each stamp in the Christmas 2022 collection to watch a video of the famous cartoon of Shaun the Sheep.

<a href="https://www.wionews.com/world/royal-mint-begins-production-of-first-50p-coins-featuring-king-charles-529018">Also read |&nbsp;UK: Royal Mint begins production of first 50p coins featuring King Charles</a>

In 1910, George V-the Queen's grandfather- became the society's patron. In November 2019, soon before the pandemic began, the Queen visited the building for the last time. The society's president Peter Cockburn said that "She was wonderful."

the queen always made sure that the country celebrates Christmas with full joy.

The authorities have asked people to send in their Christmas posts early to make sure that the posts are delivered on time.&nbsp;

First-class mail must be sent by December 21 and second-class mail must be sent by December 19 to make sure that they arrive on their scheduled time.&nbsp;

(With inputs from agencies)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

The Royal Mail recently unveiled a Christmas stamp collection featuring the Queen's silhouette. Our 2022 #Christmas stamps have arrived! Six perfectly illustrated stamps capturing the magic of the Nativity story.

The Royal Mail recently unveiled a Christmas stamp collection featuring the Queen's silhouette. Our 2022 #Christmas stamps have arrived! Six perfectly illustrated stamps capturing the magic of the Nativity story. Explore the collection today here: https://t.co/vnZz1AaA6v pic.twitter.com/sISt4kM1pp — Royal Mail (@RoyalMail) November 3, 2022 × The collection was made in collaboration with Kent-based artist Katie Ponder. The director of the Royal Mail, David Gold said that the 'charming style' will strike the appropriate tone for the holiday season. Also read | Queen Camilla's aircraft suffers damage after bird strike, no injuries reported The six Art Deco-inspired stamps illustrate scenes from the Nativity including the journey of Bethlehem, BBC reported. This will be the last time her late Majesty's silhouette will be featured on a festive stamp. Customers will be able to scan each stamp in the Christmas 2022 collection to watch a video of the famous cartoon of Shaun the Sheep. Also read | UK: Royal Mint begins production of first 50p coins featuring King Charles In 1910, George V-the Queen's grandfather- became the society's patron. In November 2019, soon before the pandemic began, the Queen visited the building for the last time. The society's president Peter Cockburn said that "She was wonderful." the queen always made sure that the country celebrates Christmas with full joy. The authorities have asked people to send in their Christmas posts early to make sure that the posts are delivered on time. First-class mail must be sent by December 21 and second-class mail must be sent by December 19 to make sure that they arrive on their scheduled time. (With inputs from agencies) WATCH WION LIVE HERE

UK: Royal Mail releases Christmas stamps featuring Queen's silhouette for the last time 

One can hate him, dislike him, disagree with him or adore him but one thing you can't keep him out of is action, here we are talking about Donald Trump. The Republican has thrown the strongest suggestion yet that he intends to be back in the Oval Office.

'I will very, very, very probably do it again,' Donald Trump plans to run for presidency in 2024

Cyber attacks against Australia from criminals and state-sponsored groups jumped last financial year, with a government report released on Friday equating the assault to one attack every seven minutes.

WION Business News | Australia: One cyber attack every seven minutes

The German Chancellor Olaf Scholz is on a&nbsp;critical 'financial' one-day visit to Beijing with his business delegates. The German chancellor arrived on a Friday (November 04).

Scholz was welcomed by Chinese President Xi Jinping at the Great Hall of the People after he arrived in Beijing.&nbsp;The two leaders later together in the hall's&nbsp;"Golden Room."

After arriving at the airport, Reuters reported that Scholz along with the delegates were administered a COVID-19 test at the airport itself.&nbsp;

<a href="https://www.wionews.com/world/why-german-chancellor-olaf-scholzs-china-visit-is-controversial-530973">Also read |&nbsp;Why German Chancellor Olaf Scholz's one-day visit to China is controversial</a>

The visit aims to strengthen economic ties with the Asian country. Scholz said, "It is good that we are able to have an exchange here about all questions, including those questions where we have different perspectives -- that's what an exchange is for."

During their in-person meeting,&nbsp;Xi expressed his belief that the trip will improve mutual understanding, and mutual trust and will also expand practical collaborations in many fields, state broadcaster CCTV reported.&nbsp;

Watch |&nbsp;German Chancellor Olaf Scholz arrives in China, will hold talks with Xi Jinping on Ukraine war

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/german-chancellor-olaf-scholz-arrives-in-china-will-hold-talks-with-xi-jinping-on-ukraine-war-531040/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<div class="videoWrapper trancodeVideo">&nbsp;</div>

<div class="videoWrapper trancodeVideo">Xi said, "As large and influential countries, in times of change and turmoil China and Germany should work together all the more, to make more contributions to world peace and development."</div>

<div class="videoWrapper trancodeVideo">
The chancellor earlier mentioned that the two leaders will be discussing&nbsp;issues related to the Russia-Ukraine conflict, Europe-China relations, the fight against climate change and global hunger during their meeting. &nbsp;

<a href="https://www.wionews.com/world/china-evergrande-chairman-yans-hong-kong-mansion-seized-by-ccb-over-dues-530971">Also read |&nbsp;China: Evergrande chairman Hui Ka Yan's Hong Kong mansion seized by CCB over dues</a>

The German Chancellor is all set to meet Premier Li Keqiang.

The visit has sparked several controversies, especially at a time when the relations between the West and China are so tense over Taiwan and human rights abuses by&nbsp;Beijing. Concerns among the US and Europe have soared especially after Xi claimed his third term for the presidency.&nbsp;

Germany's opposition leader Norbet Roettger told Rheinische Post that Scholz's strategy is to continue trade with China. The foreign minister of the ruling coalition, Annalena Baerbock expressed her concerns over repeating the same mistakes made with Russia in the past, for its dependency.&nbsp;
</div>

(With inputs from agencies)

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The German Chancellor Olaf Scholz is on a critical 'financial' one-day visit to Beijing with his business delegates. The German chancellor arrived on a Friday (November 04).

The German Chancellor Olaf Scholz is on a critical 'financial' one-day visit to Beijing with his business delegates. The German chancellor arrived on a Friday (November 04). Scholz was welcomed by Chinese President Xi Jinping at the Great Hall of the People after he arrived in Beijing. The two leaders later together in the hall's "Golden Room." After arriving at the airport, Reuters reported that Scholz along with the delegates were administered a COVID-19 test at the airport itself. Also read | Why German Chancellor Olaf Scholz's one-day visit to China is controversial The visit aims to strengthen economic ties with the Asian country. Scholz said, "It is good that we are able to have an exchange here about all questions, including those questions where we have different perspectives -- that's what an exchange is for." During their in-person meeting, Xi expressed his belief that the trip will improve mutual understanding, and mutual trust and will also expand practical collaborations in many fields, state broadcaster CCTV reported. Watch | German Chancellor Olaf Scholz arrives in China, will hold talks with Xi Jinping on Ukraine war Xi said, "As large and influential countries, in times of change and turmoil China and Germany should work together all the more, to make more contributions to world peace and development." The chancellor earlier mentioned that the two leaders will be discussing issues related to the Russia-Ukraine conflict, Europe-China relations, the fight against climate change and global hunger during their meeting. Also read | China: Evergrande chairman Hui Ka Yan's Hong Kong mansion seized by CCB over dues The German Chancellor is all set to meet Premier Li Keqiang. The visit has sparked several controversies, especially at a time when the relations between the West and China are so tense over Taiwan and human rights abuses by Beijing. Concerns among the US and Europe have soared especially after Xi claimed his third term for the presidency. Germany's opposition leader Norbet Roettger told Rheinische Post that Scholz's strategy is to continue trade with China. The foreign minister of the ruling coalition, Annalena Baerbock expressed her concerns over repeating the same mistakes made with Russia in the past, for its dependency. (With inputs from agencies) WATCH WION LIVE HERE

German Chancellor Olaf Scholz meets Chinese President Xi Jinping during his critical 'financial' visit

The mining and commodities giant Glencore has been ordered to pay £281 million in fines, confiscated profits and punishment for 'sustained criminality,' making it the&nbsp;highest fine&nbsp;ever imposed on a firm in the UK.&nbsp;

During a hearing at Southwark Crown Court in London, a judge said that the UK subsidiary of the firm showed a 'highly corrosive' offence of bribe. The court hearing was on how the firm workers and agents gave bribes worth $27 million to a few unnamed officials in Nigeria, South Sudan, Ivory Coast and others creating harm valued at $128 million and £81 million at the time of the incident, the Guardian reported.&nbsp;

<a href="https://www.wionews.com/world/glencore-faces-steep-penalties-over-african-bribery-scandal-mining-corporation-used-private-jet-to-fly-bribe-530749">Also read |&nbsp;Glencore faces steep penalties over African bribery scandal; mining corporation used private jet to fly bribe</a>

Due to the firm's admission of guilt after the bribery charges brought by the UK's Serious Fraud Office, there is a one-third reduction in the fine. The SFO stated that the workers used fake papers and flew cash bribes in private jets to Africa.&nbsp;

Glencore's chairman Kaliidas Madhavpeddi appeared in the court hearing. The chairman later released a statement saying&nbsp;that the company has improved its ethics and compliance.&nbsp;

The company will be paying $183 million as a fine, the largest amount to be paid in UK history. The firm will also be paying £93.5 million to SFO for confiscation pay along with paying £4.6 million for SFO fees.&nbsp;

<a href="https://www.wionews.com/world/23-mn-fine-imposed-on-tech-giant-oracle-for-bribing-foreign-officials-in-turkey-uae-and-india-520542">Also read |&nbsp;$23 mn fine imposed on tech giant Oracle for bribing officials in Turkey, UAE and India</a>

Glencore has already set aside $1.5 billion (£1.3 billion) to cover the expenses associated with bribery allegations. The firm will also be paying $1.1 billion to the US for breaking bribery rules and for manipulating commodity prices.&nbsp;

Beyond the monetary fines and additional reputational inquiry the firm faced, Iskander Fernandez, a partner for the firm said that the conviction for bribery will hinder businesses from competing for government contracts.&nbsp;

(With inputs from agencies) 
&nbsp;

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The mining and commodities giant Glencore has been ordered to pay £281 million in fines, confiscated profits and punishment for 'sustained criminality,' making it the highest fine ever imposed on a firm in the UK.

The mining and commodities giant Glencore has been ordered to pay £281 million in fines, confiscated profits and punishment for 'sustained criminality,' making it the highest fine ever imposed on a firm in the UK. During a hearing at Southwark Crown Court in London, a judge said that the UK subsidiary of the firm showed a 'highly corrosive' offence of bribe. The court hearing was on how the firm workers and agents gave bribes worth $27 million to a few unnamed officials in Nigeria, South Sudan, Ivory Coast and others creating harm valued at $128 million and £81 million at the time of the incident, the Guardian reported. Also read | Glencore faces steep penalties over African bribery scandal; mining corporation used private jet to fly bribe Due to the firm's admission of guilt after the bribery charges brought by the UK's Serious Fraud Office, there is a one-third reduction in the fine. The SFO stated that the workers used fake papers and flew cash bribes in private jets to Africa. Glencore's chairman Kaliidas Madhavpeddi appeared in the court hearing. The chairman later released a statement saying that the company has improved its ethics and compliance. The company will be paying $183 million as a fine, the largest amount to be paid in UK history. The firm will also be paying £93.5 million to SFO for confiscation pay along with paying £4.6 million for SFO fees. Also read | $23 mn fine imposed on tech giant Oracle for bribing officials in Turkey, UAE and India Glencore has already set aside $1.5 billion (£1.3 billion) to cover the expenses associated with bribery allegations. The firm will also be paying $1.1 billion to the US for breaking bribery rules and for manipulating commodity prices. Beyond the monetary fines and additional reputational inquiry the firm faced, Iskander Fernandez, a partner for the firm said that the conviction for bribery will hinder businesses from competing for government contracts. (With inputs from agencies) WATCH WION LIVE HERE

Glencore to pay £281 million over African bribery scandal

Amazon will freeze hiring in its corporate workforce as the e-commerce giant deals with an "unusual macro-economic environment", a company executive said on Thursday.

WION Business News | Amazon to freeze corporate hiring

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