Japan's services sector activity grew at the fastest pace in half a year in May as consumer sentiment recovered further following the easing of Covid curbs.

Japan's service sector activity grows at fastest pace in 6 months

The Sweden-based automaker Volvo Car Group's sales have fallen 28.3% in Mar as supply chain problems and lockdowns hampered production.

Volvo Cars reports 28% drop in May, lockdown & supply chains blamed for fall

The Indian auto industry has managed to make a recovery in May of this year. It has registered healthy growth in terms of vehicle sales as compared to same period last year. WION's Business Editor Sumit Chaturvedi speaks to Shashank Srivastava, Senior ED, Maruti Suzuki.

Indian auto industry manage to make a recovery in May 2022

New York has become the latest state to suspend its gas tax in an effort to give drivers some relief at the pump. The suspension of the 16-cents-per-gallon tax runs from June 1 through the end of the year.

New York suspends gas tax by 16 cents a gallon for rest of 2022

The OPEC and its allies has agreed to significant oil output increases in July amid calls for the alliance to help contain the surging oil prices.

OPEC+ to boost oil output in July, decision to ease surging prices

US authorities are ready to implement a ban on imports from China's Xinjiang region when a law requiring it becomes enforceable later in June.

US ready to implement ban on Xinjiang goods on June 21

Elon Musk, the Tesla chief executive has asked employees to return to office or leave the company, according to a memo sent to staff that has been circulating on social media.

Tesla joins list of companies mandating offline work

According to provisional data released by the National Statistical Office (NSO), the Indian economy grew at 8.7% in 2021-22 with 4.1% growth in the fourth quarter of the financial year, which is better than private forecasts.

India's GDP growth better than expected

Inflation in the 19 countries of the eurozone soared to 8.1% in May from 7.4% in April. Rising prices have been exacerbated over recent months by the war in Ukraine, particularly food and energy costs.

Eurozone inflation hits record 8.1% amid rising food and energy costs

China's army of metal processors and traders has flipped from buyers to sellers. This amid a sharp downshift in economic activity in the world's top manufacturer, which is also heralded a potential warning sign for steel, aluminium and other key industrial commodities.

China's metals traders offload stockpiles as bleak demand outlook bites

India has reached a landmark figure of 100 unicorns with a valuation of more than $300 billion. WION's Business Editor Sumit Chaturvedi spoke to some of the global and Indian startups to know how things have changed and how they are handling current challenges of slowing world economy and high inflation.

India has 100 startups in Unicorn club valued at $333 billion

In signs of recovery in aviation sector European low-cost airline Ryanair said its bookings looked very strong for the summer and the load factor should gradually rise to 94-95% in June-August.

Ryanair sees over 15 million passengers in May, summer bookings strong

The Russian Central Bank cut interest rates from 14% to 11%, after inflation slowed to 17.5% in May compared to 17.8% in April, which is now forecasting that annual inflation will decrease to 5–7% in 2023 and return to 4% in 2024.

Russian Central Bank cuts interest rates from 14% to 11%

According to reports, the US business of Fiat Chrysler Automobiles has agreed to plead guilty to criminal conduct and pay roughly $300 million in penalties to resolve a multi-year emissions fraud probe surrounding vehicles with diesel engines.

Reports: FCA reaches plea deal in US emissions probe

Starbucks will cease operations in Russia, shuttering its 130 cafes in the country. Starbucks said it will continue to pay its nearly 2,000 Russian employees for six months and help them transition to new jobs.

Starbucks leaving Russian market after 15 years, will close 130 stores

The Hyundai Motor Group said on Sunday it would invest another $5 billion in the United States by 2025 to strengthen cooperation with US companies in advanced technology.

Hyundai Motor Group to invest more than $10 billion in US by 2025

In the signs of increasing volatility in stock markets, Asian markets have recovered temporarily today after a day of intense losses. India's BSE Sensex opened with gains of 600 points and it is trading with gains.

Asian stocks in green after a day of intense losses

Turkey's annual inflation has jumped to nearly 70% in April, fuelled by the Russia-Ukraine conflict and rising commodity prices after a Lira crash late last year.

Turkey's inflation surges to 20-year high

Electric Vehicles (EVs) almost doubled their market share in the European Union during the first quarter, as the rollout of models across the continent picks up pace.

EV nearly doubled European Union market share

The Bank of England’s policymakers are expected to increase interest rates from 0.75% to 1%, a level not seen since 2009. The Bank expects UK inflation to rise to roughly 10% this year as a result of the Russia-Ukraine war and lockdowns in China.

Bank Of England hikes interest rates to 13-year high

Boeing will move its headquarters from Chicago to Arlington, Virginia, as the crisis-plagued US plane maker works to repair relationships with customers, federal regulators and lawmakers.

Boeing to move headquarters from Chicago to Virginia

Tesla CEO Elon Musk is expected to serve as a temporary CEO of Twitter for a few months after he completes his $44 billion takeover of the social media company.

Elon Musk to lead Twitter temporarily after $44 billion takeover, says report

The US Federal Reserve announced a 0.25 percent hike in its bench-mark short-term interest rate, launching a campaign to tackle the fastest inflation in four decades even as risks to economic growth mount.

US Fed lifts policy rate by 0.25%

China's property sector crisis has deepened. After reports came that another property giant Shimao had to put all of its projects up for sale and Evergrande attempted another high-profile default.

China: Property giant Shimao had to put all of its projects up for sale