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

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

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

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

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Disney+ Hotstar smashes streaming records with 53 mn views during India-New Zealand match Indian streaming giant Disney+ Hotstar reached an unprecedented milestone on November 15 drawing a staggering 53 million concurrent viewers during the ICC ODI World Cup 2023 semi-final match between India and New Zealand.

Wion Business Wrap | Disney + Hotstar's record, RBI's warning & more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. India's retail inflation hits four-month low in October, nearing RBI's target India's retail inflation experienced a downturn in October, reaching a four-month low and moving closer to the central bank's targeted 4 per cent, a level deemed necessary before considering interest rate reductions Read more here PRS Oberoi, pioneer of luxury hospitality, passes away at 94 Prithvi Raj Singh Oberoi, fondly known as PRS Oberoi and hailed as the doyen of Indian hospitality, passed away on Tuesday morning at the age of 94, leaving behind a legacy that transformed the landscape of luxury hotels in India and beyond.

Wion Business Wrap | China's economic woes, Argentinians opt for old clothes & more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. IndiGo's expansion plans face hurdles amid Pratt & Whitney engine troubles India's largest airline, IndiGo, remains committed to its capacity growth projections for the year, even as it anticipates grounding of over 30 planes in the fourth quarter due to ongoing concerns with its Pratt & Whitney (P&W) engines.

Wion Business Wrap | Indigo's positive outlook, massive fall in wine output & more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. WeWork, once a pinnacle of tech innovation, files for bankruptcy as challenges mount WeWork, the office-sharing start-up backed by SoftBank Group, which once held the title of the most valuable U.

Wion Business Wrap | WeWork's bankruptcy, Airbnb's troubles & more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. FTX founder Sam Bankman-Fried found guilty of defrauding customers FTX founder Sam Bankman-Fried has been found guilty on all charges, including defrauding customers of his now-bankrupt cryptocurrency exchange in one of the biggest financial frauds on record.

WION Business Wrap | Sam Bankman-Fried convicted, Amazon's algorithm trouble & more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. US Federal Reserve keeps interest rates unchanged at 22-year high, says economy is ‘strong’ The United States Federal Reserve voted to keep the interest rate, which currently stands at a 22-year high, unchanged for a second straight meeting.

WION Business Wrap | Japan's package, India's digitisation ambitions & much more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. WeWork nears bankruptcy amidst crushing debt and plummeting value The embattled flexible workspace provider, WeWork, is reportedly on the verge of filing for bankruptcy in the coming week.

WION Business Wrap | WeWork's woes, fall in US consumer confidence

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. UAW reaches agreements with Detroit automakers, ending strikes After a six-week-long campaign of coordinated strikes, the United Auto Workers (UAW) and General Motors (GM) reached a tentative agreement on Monday, marking the end of the unprecedented strike against Detroit's "Big Three" automakers.

WION Business Wrap | The big global business stories summarised

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Australia halts trade negotiations with EU Australia has withdrawn from trade talks with the European Union on a free trade agreement for the second time in three months.

A silent healthcare crisis is unfolding in the United States. Pharmacy giants are shutting their stores due to balance sheet issues.

Rural America's struggle for lifesaving pharmacies | World Business Watch

Academics and economic practitioners are doing postmortems on the most vigorous monetary tightening campaign in four decades to determine what caused the cost-of-living problem and how it may be avoided in the future.

Lessons from the great monetary tightening

Along with electric vehicle manufacturer Lucid Motors, Hyundai Motors has signed a contract with Saudi Arabia's sovereign wealth fund to build a more than $500 million automobile assembly factory in the oil-rich country.

Hyundai & Lucid motors partner with Saudi wealth fund

The European Central Bank is leading the charge toward a digital Euro, setting the stage for the latest evolution of money.

The global race for Central Bank digital currencies

Saudi Arabia's oil Behemoth Aaron KO reveals a dramatic 40 drop in profits for the second quarter Aaron core reported 30.07 billion dollars in net profit for the second quarter a drop of nearly 40 from the 48.4 billion dollars recorded in the same period just last year now who's the culprit here. What's the culprit here lower crude oil prices and weakening refining and chemicals margins the oil sector's roller coaster continues as Adam core's plummeting profits align with industry Trends this decline echoes in the financial results of other energy giants like BP Exxon Mobil shell and total energies who have all struggled with reduced earnings due to the drag of a weaker oil prices as Adam core navigates this period of uncertainty Global attention turns towards the upcoming U.N climate talks hosted by the United Arab Emirates with increased pressure to reduce Reliance on fossil fuels these events will serve as a pivotal drop backdrop for discussions on sustainable energy strategies

Saudi Aramco's Q2 report shows earnings dip

Pakistan plans to privatise its loss-making national carrier Pakistan International Airlines (PIAa.PSX), the government said on Monday, as the country also seeks to outsource its airport operations in line with an IMF deal.

Pakistan's national carrier to go private, Pia to get new owners

In a significant development, a federal court has rejected the FTC's attempt to halt the $69 billion Microsoft deal to acquire gaming powerhouse Activision blizzard. The court ruling determined that the FTC failed to present compelling evidence that the deal would violate antitrust laws.

No pause in $69 bn Microsoft-activision merger deal

LIBOR, the more than 50-year-old reference rate that came to epitomize Wall Street malfeasance, will soon be no more. SOFR, or secured overnight financing rate, a benchmark interest rate for Dollar-dominated derivatives & loans, is slowly taking its place.

LIBOR fades into history after 50 years of benchmark dominance

The slowdown in the global economy has hit the world of finance. Deals have dried up, leading to a sharp drop in revenues. This has led to several firms announcing layoffs. The latest to join the bandwagon is the Bank of Montreal, whose capital markets unit is cutting about 100 positions or 3.5% of the division’s staff.

Canada's BMO capital markets announces layoffs

In China, the world of livestreaming is undergoing a remarkable transformation. Gone are the days of massive discounts and celebrity hosts enticing viewers. Instead, brands are embracing a new era of content-driven livestreaming, where expert advice and engaging storytelling take center stage. Research indicates that livestreaming generated an astonishing $480 billion in sales last year, with predictions of a 30% surge this year.

Livestreaming's resurgence in China: Content steals the show

InterGlobe Aviation ltd, the parent company of Indian budget airline Indigo, has become the first Indian airline to cross 1 trillion rupees in market value. 1 trillion rupees in US dollar terms is over 12 billion dollars. Indigo has been able to reach this milestone after its shares soared 29% in 2023. Its stock hit a high of Rs 2,595 or 31.64 Dollars on the Bombay Stock Exchange.

Indigo is first Indian airline valued at over 1 trillion rupees

It's a tale of unexpected financial triumph as Ukrainian debt warrants have taken the investment world by storm, delivering staggering returns and capturing the attention of major players in the market. Held by Morgan Stanley investment management, these exotic warrants have experienced an astonishing surge in value over a short period.

Ukraine’s debt warrants outshine emerging markets

A former Samsung executive has been indicted for stealing secrets from his former employer to help his client -- Taiwan's leading chip maker Foxconn. South Korean prosecutors allege that the theft caused a loss of over 200 million dollars to Samsung electronics, which is the world's biggest chipmaker. As per an unreleased indictment report, accessed by Reuters, Choi Jinseog is alleged to have stolen Samsung's trade secrets and details about the planned Foxconn plant. However, he has denied all charges.

Ex-Samsung executive accused of stealing secrets