US vs China over South China Sea: Washington backs Philippines, Beijing hits back

Delhi gets first late-September rain in 7 years, mercury dips 5.1°C below normal

50MP vs 48MP cameras: iPhone 18 Pro Max and Pixel 11 Pro XL compared

‘Anti-social elements spreading false rumours’: LPU issues statement amid massive unrest over alleged rape

LPU students go on rampage, vandalise campus amid widespread protest: What's happening

Trump asked Xi to pressure Iran. China did not say yes — here’s what Beijing wants

Jerry Maguire star Jonathan Lipnicki makes rare red carpet appearance

US Treasury Secretary Scott Bessent hails global crackdown on Iranian banks and airlines

Venezuela's oil heartland eyes US revival

Russia backs India at UNGA, but flags limits on UNSC seat expansion 

South Africa probes string of murders targeting women

Building collapses after blast in Athens: 4 Americans, British man among 6 killed; cause not known

'Victory for low-budget consumers': Raghav Chadha hails 30-day telecom recharge rules

Kendall Jenner, Jacob Elordi’s Milan Fashion Week appearance has fans talking; his reaction steals the show

Beyond metros: How Tier-2 and Tier-3 cities could drive India’s next AI wave

Tesla builds first Cybertruck with its own refined lithium: Elon Musk's $1 billion Texas bet pays off

IndiGo flight suffers tail strike in Bengaluru while landing; DGCA to probe incident

‘Terror suspects arrested near UK air base were looking to do big damage’: Trump

Russian envoy claims US tactics to contain India were revealed in ‘Freudian slip’

‘Olympic inclusion is our major target’: WPA President Ishaun Singh on pool’s global ambitions

Nations League: Spain sink England at Wembley; Modric shines for Croatia

Why has Iran released no proof of life of Mojtaba Khamenei? Araghchi reveals...

Trump expects Iran talks this week despite rejecting Tehran’s proposal: Report

Bank unions defer 3-day strike from tomorrow after talks with IBA, committee set up

Iran ready for ‘doomsday war’ if US resumes attacks, but open to diplomacy: Araghchi

Beyond BrahMos: India targets Rs 50,000 crore in defence exports with unmatched price edge

Sri Lankan Tamil migrant worker gets death sentence in Saudi Arabia, help sought from India

Muslim marriage cannot shield sex with minor wife from prosecution under POCSO: Delhi HC

99.9% more powerful - Scientists find boy who can recall memories from just 3 months of age

'FIRST LOOK from inside Noah’s Ark': Researchers share video from inside mysterious mound in Turkey

UNSC reform momentum grows: Russia, Portugal, Mauritius push for India's permanent seat bid

Man arrested after his 22-year-old girlfriend dies at homestay in Guwahati; police suspect murder over suicide claim

Afghanistan says 28 fighters killed in clash near Pakistan border, Islamabad denies

Ceuta migrant crisis: Protesters take to streets as Spain grapples with migrant challenge

Powerful Autumn storm threatens major coastal flooding across the US Northeast 

Jaishankar at UNGA: Goodwill and friendship can't coexist with terrorism

All eyes will be on the Narendra Modi government's fiscal deficit target. A Reuters report says that it will look to control the fiscal deficit. Government sources suggest that India's total borrowing for 2024-25 will be close to this fiscal year's level. This means that India may peg its total borrowing for the next fiscal year between 180.47 billion dollars and 186 billion dollars.

Budget 2024: Focus on fiscal deficit

Following recent safety concerns and Boeing’s production freeze, airlines are forced to reassess their 2024 strategies. With major carriers like American, southwest, and united grappling with the fallout, the industry faces a bumpy ride ahead.

Boeing's 737 max woes disrupt aerospace industry's 2024 plans

Argentinian President Javier Milei's economic measures continue to faces major opposition. In the latest, the country's largest union held a 12-hour strike on Wednesday. Thousands of workers demonstrated in capital Buenos Aires to oppose Milei's reforms.

Argentina: Labour groups oppose reforms

The Indian government has permitted Indian companies to directly list their shares on international exchanges in Gujarat's GIFT city. This move is being seen as a big boost to foreign investments inflows and capital markets in India.

India government allows firms to list on global exchanges in GIFT city

As India's energy sector charts a course towards a greener future, the anticipation of substantial budgetary support from the government underscores the nation's commitment to self-reliance and sustainable development goals. In this report, we delve into India's ambitious vision of becoming a self-reliant powerhouse for its energy needs.

India Budget 2024: India's energy sector charged-up ahead of budget

Russian assets, worth about 300 billion dollar, are at the centre of the EU-Russia tensions. Since the war began in Ukraine, EU officials have been comtemplating about these frozen assets. Latest reports suggest that officials are unlikely to confiscate these assets.

Russia-Ukraine war: EU's $300 billion dilemma; Russian assets to fund Ukraine?| World Business Watch

In a dazzling display of opulence, Gucci's parent company, Kering, has unleashed a retail revolution by splurging a mind-boggling $963 million on a prime fifth avenue property. This retail spectacle not only cements Gucci's stronghold on the famed shopping street but sets the stage for a runway rivalry that promises to reshape the fabric of luxury shopping.

Gucci owner's $1bn acquisition on 5th avenue | World Business Watch

Global markets roundup | Asian markets open in Red. Japan leads losses in Asia.

Global markets roundup | Asian markets open in Red | WION World Business Watch

Imagine this: Every second of your workday meticulously monitored by your employer. Sounds like something out of a sci-fi flick, right? Well, hold onto your hats because it's not fiction; it's the reality Amazon workers in france found themselves in, and it's raising some eyebrows.

Amazon's French warehouse fined $35million | World Business Watch

Investors sold brazil's currency after president lula da silva unveiled an industrial development plan for the next 10 years. The plan is aimed at boosting sluggish growth with state credits and subsidies. Lula wants to boost long-lagging growth with a similar playbook to the one he used during his earlier tenure.

Brazil's 're-industrialisation' plan

Terraform labs, the company behind the once-stable terra usd, has filed for chapter 11 bankruptcy. The collapse of terra usd in 2022 sent ripples through the crypto markets, causing a $40 billion fallout.

Singapore-based terraform labs faces bankruptcy

India is one of the biggest military spenders in the world. What could be in store for India's crucial defence sector?

Boosting modernisation & research tops defence sector wishlist

Tensions in the red sea are sending shockwaves through maritime routes, forcing major shipping companies to take drastic measures. Houthi attacks have triggered a rerouting frenzy, impacting 1.6 million tons of crucial grain shipments.

Impact on agriculture: 1.6 million tons of grain altered routes

A suspected drone attack has rocked Russian energy giant Novatek, forcing a temporary halt to operations at its UST-Luga processing complex and Baltic sea terminal. This incident, coupled with escalating tensions in the region, is sending shockwaves through global energy markets.

Novatek's UST-Luga operations disrupted by suspected drone attack

Netflix Film Chief, Scott Stuber, is set to depart from the streaming giant to launch his own media company in mid-march, marking a significant change in Netflix's leadership. Stuber played a crucial role in reshaping how movies are made, distributed, and consumed, contributing to Netflix's emergence as a major player in original content production.

Scott Stuber steps back from Netflix Film Chief role

India and Nigeria have embarked on a journey of enhanced collaboration. External Affairs Minister S. Jaishankar co-chaired the 6th Joint Commission meeting, showcasing a commitment to strengthen ties across vital sectors. Discussions centred on pivotal areas such as energy, power, renewables, transport, healthcare, fintech, agriculture, and security.

India explores new frontiers with Nigeria

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy.

Red Sea crisis weighs on already disrupted global supply chains

There is no respite for battered global supply chains. First, trade wars and then Covid-led restrictions disrupted global supply chains. Now, it is the Israel-Hamas war that is distorting them further. Oil tankers are idling, and cargo ships are rerouting around Africa as Red Sea shipping comes to a complete stop as violence related to the Israel-Hamas conflict threatens to destabilise the world economy.

<a href="https://www.wionews.com/business-economy/red-sea-crisis-weighs-on-already-disrupted-global-supply-chains-671563">Read more here</a>

India hits out at IMF on "excessive" currency intervention comment

India hits out against the International Monetary Fund (IMF) for claiming that the central bank had interfered "excessively" in the foreign exchange market. The IMF's report suggested that the Indian government was attempting to manipulate the value of the rupee.&nbsp;

<a href="https://www.wionews.com/business-economy/india-hits-out-at-imf-on-excessive-currency-intervention-comment-671573">Read more here</a>

Tesla alters employee compensation strategy, opts out of merit-based stock awards&nbsp;

Tesla has informed salaried employees that the company will not be offering merit-based equity awards this year. While no explicit reason was provided for this deviation from the norm, insights from four employees across different departments suggest a widespread impact.

<a href="https://www.wionews.com/business-economy/tesla-alters-employee-compensation-strategy-opts-out-of-merit-based-stock-awards-671588">Read more here </a>

EU and US call a truce, postpone steel tariff showdown until after elections

The European Union (EU) and the US have decided to prolong their ceasefire on steel and aluminium imports, averting the looming threat of tariffs impacting transatlantic trade. &nbsp;

<a href="https://www.wionews.com/business-economy/eu-and-us-call-a-truce-postpone-steel-tariff-showdown-until-after-elections-671591">Read more here</a>

Hyundai's Strategic Exit: Korean carmaker to sell Russian plant for token amount amid market shifts

In a strategic move responding to geopolitical changes, South Korea's Hyundai Motor is set to sell its Russian plant for a nominal 7,000 roubles ($77.67), becoming the latest global automaker to divest from Russian assets since the outbreak of the war in Ukraine. &nbsp;

<a href="https://www.wionews.com/business-economy/hyundais-strategic-exit-korean-carmaker-to-sell-russian-plant-for-token-amount-amid-market-shifts-671597">Read more here</a>

After delisting, Toshiba navigates an uncertain future with new owners

Toshiba has bid farewell to the Tokyo exchange after 74 years, marking the end of an era marred by a decade of turmoil and scandal that tarnished one of Japan's major brands. &nbsp;

<a href="https://www.wionews.com/business-economy/after-delisting-toshiba-navigates-an-uncertain-future-with-new-owners-671609">Read more here</a>

Lufthansa's $9 bn aircraft bonanza: German airline orders 80 planes from Boeing and Airbus

Lufthansa on Tuesday inked a deal worth $9 billion, ordering a total of 80 planes from both Boeing and Airbus, with delivery set between 2026 and 2032, marking the German flagship carrier's first purchase of Boeing narrow-body planes in approximately 30 years. &nbsp;

<a href="https://www.wionews.com/business-economy/lufthansas-9-bn-aircraft-bonanza-german-airline-orders-80-planes-from-boeing-and-airbus-671629">Read more here</a>

Monsanto to pay $857 million in damages in PCB contamination case&nbsp;

In a major legal blow, a Washington state jury has ruled that Monsanto must pay $857 million to seven former students and parent volunteers of the Sky Valley Education Centre in Monroe, Washington. &nbsp;

<a href="https://www.wionews.com/business-economy/monsanto-faces-857-million-verdict-in-pcb-contamination-case-at-washington-school-671634">Read more here</a>

Chinese retailers' shift to lower prices raises concerns of deepening deflation&nbsp;

In a bid to attract cost-conscious consumers, Chinese retailers are strategically pivoting towards lower-priced goods and services. This shift, while aimed at boosting consumer spending, is raising concerns about the entrenchment of deflationary trends in China's economy.&nbsp;

<a href="https://www.wionews.com/business-economy/chinese-retailers-shift-to-lower-prices-raises-concerns-of-deepening-deflation-671637">Read more here</a>

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Red Sea crisis weighs on already disrupted global supply chains There is no respite for battered global supply chains.

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Red Sea crisis weighs on already disrupted global supply chains There is no respite for battered global supply chains. First, trade wars and then Covid-led restrictions disrupted global supply chains. Now, it is the Israel-Hamas war that is distorting them further. Oil tankers are idling, and cargo ships are rerouting around Africa as Red Sea shipping comes to a complete stop as violence related to the Israel-Hamas conflict threatens to destabilise the world economy. Read more here India hits out at IMF on "excessive" currency intervention comment India hits out against the International Monetary Fund (IMF) for claiming that the central bank had interfered "excessively" in the foreign exchange market. The IMF's report suggested that the Indian government was attempting to manipulate the value of the rupee. Read more here Tesla alters employee compensation strategy, opts out of merit-based stock awards Tesla has informed salaried employees that the company will not be offering merit-based equity awards this year. While no explicit reason was provided for this deviation from the norm, insights from four employees across different departments suggest a widespread impact. Read more here EU and US call a truce, postpone steel tariff showdown until after elections The European Union (EU) and the US have decided to prolong their ceasefire on steel and aluminium imports, averting the looming threat of tariffs impacting transatlantic trade. Read more here Hyundai's Strategic Exit: Korean carmaker to sell Russian plant for token amount amid market shifts In a strategic move responding to geopolitical changes, South Korea's Hyundai Motor is set to sell its Russian plant for a nominal 7,000 roubles ($77.67), becoming the latest global automaker to divest from Russian assets since the outbreak of the war in Ukraine. Read more here After delisting, Toshiba navigates an uncertain future with new owners Toshiba has bid farewell to the Tokyo exchange after 74 years, marking the end of an era marred by a decade of turmoil and scandal that tarnished one of Japan's major brands. Read more here Lufthansa's $9 bn aircraft bonanza: German airline orders 80 planes from Boeing and Airbus Lufthansa on Tuesday inked a deal worth $9 billion, ordering a total of 80 planes from both Boeing and Airbus, with delivery set between 2026 and 2032, marking the German flagship carrier's first purchase of Boeing narrow-body planes in approximately 30 years. Read more here Monsanto to pay $857 million in damages in PCB contamination case In a major legal blow, a Washington state jury has ruled that Monsanto must pay $857 million to seven former students and parent volunteers of the Sky Valley Education Centre in Monroe, Washington. Read more here Chinese retailers' shift to lower prices raises concerns of deepening deflation In a bid to attract cost-conscious consumers, Chinese retailers are strategically pivoting towards lower-priced goods and services. This shift, while aimed at boosting consumer spending, is raising concerns about the entrenchment of deflationary trends in China's economy. Read more here

Wion Business Wrap | Red Sea crisis, Toshiba delisting, Monsanto's legal woes & more

Activision blizzard, the maker of 'call of duty,' has agreed to pay approximately $50 million to settle a lawsuit filed by california's civil rights department. The suit, initiated after a two-year investigation, alleged systematic gender discrimination, including underpayment and denial of promotion opportunities for female employees.

Activision blizzard settles $50 million lawsuit over gender discrimination | World Business Watch

In a recent all-hands meeting, google and alphabet ceo sundar pichai faced tough questions as he addressed the company's massive 2022 layoffs. Defending the decision to cut 6% of alphabet's workforce, pichai acknowledged the impact on morale while emphasising the necessity of adapting to economic shifts for future growth.

CEO Sundar Pichai addresses layoffs at google's all-hands meeting | World Business Watch

The german government is tightening its purse strings and the first casualty seems to be the electric vehicles industry. The federal government has decided to end its subsidy programme for the sector.

Germany ends e-vehicle subsidy | World Business Watch

The ongoing political tensions have an underlying economic dimension to them. The thickly forested esequibo region is at the centre the dispute. While it is a part of english-speaking guyana, venezuela has revived its claim to the region. The dispute is at least two centuries old and has its origins in european colonialism. The dispute would have lingered without any flare up. But things took a drastic turn in 2015. U.s. Firm exxon found crude oil reserves in esequibo's offshore waters.

How oil discovery transformed esequibo dispute | World Business Watch

Indonesia workers are making a beeline for japan and this trend is likely to continue for the next few years. This is being seen as a win-win for both countries, as workers from indonesia secure employment while japan gets much-needed manpower.

Indonesian workers flock to japan | World Business Watch

In a smashing debut, the listing day gains for India's tata technologies were the greatest for any large Indian initial public offering. The company's value more than doubled.

Tata tech emerges as stock market star

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

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.&nbsp;

<a href="https://www.wionews.com/business-economy/turkey-and-turnaround-thanksgivings-economic-upswing-661858">Read more here</a>

OpenAI researchers warned of potent AI discovery before Sam Altman's ouster&nbsp;&nbsp; &nbsp;

Prior to the abrupt ouster of OpenAI CEO Sam Altman, a group of staff researchers reportedly penned a letter to the board revealing a significant breakthrough in artificial intelligence (AI) that could pose risks to humanity. &nbsp;

<a href="https://www.wionews.com/business-economy/openai-researchers-warned-of-potent-ai-discovery-before-sam-altmans-ouster-661793">Read more here</a>

Lawmakers urge SEC probe into Musk's Neuralink amid safety concerns

Four US lawmakers, including Democratic House Reps. Earl Blumenauer, Jim McGovern, Barbara Lee, and Tony Cardenas, have formally requested the Securities and Exchange Commission (SEC) to investigate Elon Musk for potential securities fraud. &nbsp;&nbsp; &nbsp;

<a href="https://www.wionews.com/business-economy/lawmakers-urge-sec-probe-into-musks-neuralink-amid-safety-concerns-661790">Read more here</a>

Zomato, Swiggy hit with GST demand notice, face tax troubles: Report&nbsp;&nbsp; &nbsp;

India's Directorate General of GST Intelligence has issued demand notices to leading food delivery platforms Zomato and Swiggy, alleging non-payment of GST on delivery fees collected from consumers.

<a href="https://www.wionews.com/business-economy/zomato-swiggy-hit-with-gst-demand-notice-face-tax-troubles-report-661795">Read more here</a>

Nvidia soars beyond Wall Street estimates in Q3, but China concerns loom

Chip making giant Nvidia released its third-quarter earnings on Tuesday, once again surpassing Wall Street expectations as the demand for its chips fuelled by the artificial intelligence boom continues to surge. &nbsp;&nbsp;&nbsp; &nbsp;

<a href="https://www.wionews.com/business-economy/nvidia-soars-beyond-wall-street-estimates-in-q3-but-china-concerns-loom-661797">Read more here</a>

Brazil approves $65 million Amazon fund to combat rainforest crimes&nbsp;

Brazil's National Development Bank (BNDES) has given the green signal to allocate 318 million reais ($65 million) from the $1.3 billion Amazon Fund to establish a law enforcement initiative targeting deforestation and environmental crimes in the rainforest.&nbsp;

<a href="https://www.wionews.com/business-economy/brazil-approves-65-million-amazon-fund-to-combat-rainforest-crimes-661827">Read more here</a>

India's stock market predicted to hit record highs amid global caution

According to a Reuters poll of equity strategists, the Indian market is set to defy expectations, eyeing a substantial 10% rise by the end of 2024.

<a href="https://www.wionews.com/business-economy/indias-stock-market-predicted-to-hit-record-highs-amid-global-caution-661801">Read more here</a>

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'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. Read more here OpenAI researchers warned of potent AI discovery before Sam Altman's ouster Prior to the abrupt ouster of OpenAI CEO Sam Altman, a group of staff researchers reportedly penned a letter to the board revealing a significant breakthrough in artificial intelligence (AI) that could pose risks to humanity. Read more here Lawmakers urge SEC probe into Musk's Neuralink amid safety concerns Four US lawmakers, including Democratic House Reps. Earl Blumenauer, Jim McGovern, Barbara Lee, and Tony Cardenas, have formally requested the Securities and Exchange Commission (SEC) to investigate Elon Musk for potential securities fraud. Read more here Zomato, Swiggy hit with GST demand notice, face tax troubles: Report India's Directorate General of GST Intelligence has issued demand notices to leading food delivery platforms Zomato and Swiggy, alleging non-payment of GST on delivery fees collected from consumers. Read more here Nvidia soars beyond Wall Street estimates in Q3, but China concerns loom Chip making giant Nvidia released its third-quarter earnings on Tuesday, once again surpassing Wall Street expectations as the demand for its chips fuelled by the artificial intelligence boom continues to surge. Read more here Brazil approves $65 million Amazon fund to combat rainforest crimes Brazil's National Development Bank (BNDES) has given the green signal to allocate 318 million reais ($65 million) from the $1.3 billion Amazon Fund to establish a law enforcement initiative targeting deforestation and environmental crimes in the rainforest. Read more here India's stock market predicted to hit record highs amid global caution According to a Reuters poll of equity strategists, the Indian market is set to defy expectations, eyeing a substantial 10% rise by the end of 2024. Read more here

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.&nbsp;

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.

<a href="https://www.wionews.com/business-economy/sam-altman-confirms-his-return-to-openai-as-ceo-661426">Read more here</a>

Baidu unfazed by US chip curbs, reveals chip stockpile amid Q3 revenue triumph  

Chinese tech giant Baidu remains resistant to US chip export restrictions, revealing a substantial stockpile of artificial intelligence chips that will shield its business from immediate impacts.  

<a href="https://www.wionews.com/business-economy/baidu-unfazed-by-us-chip-curbs-reveals-chip-stockpile-amid-q3-revenue-triumph-661356">Read more here</a>

Richard Teng is new Binance CEO amid regulatory changes

As part of a comprehensive deal to settle a US criminal investigation against ex-CEO Changpeng Zhao, Richard Teng assumed the role of CEO at Binance on Tuesday.&nbsp; 
      
<a href="https://www.wionews.com/business-economy/richard-teng-is-new-binance-ceo-amid-regulatory-changes-661363">Read more here</a>

Microsoft CTO offers matching compensation to OpenAI employees amid leadership issues  

Microsoft's Chief Technology Officer (CTO) Kevin Scott has extended an olive branch to the disgruntled employees at OpenAI, agreeing to match their current compensation amid the upheaval following the sudden removal of CEO Sam Altman.   

<a href="https://www.wionews.com/business-economy/microsoft-cto-offers-matching-compensation-to-openai-employees-amid-leadership-issues-661399">Read more here</a>

OpenAI, Microsoft face lawsuits over unauthorized use of authors' work in AI training

OpenAI and Microsoft are confronting a new legal challenge as they are being sued over allegations of misusing nonfiction authors' work to train artificial intelligence models, including OpenAI's popular chatbot ChatGPT. &nbsp;

<a href="https://www.wionews.com/business-economy/openai-microsoft-face-lawsuits-over-unauthorized-use-of-authors-work-in-ai-training-661473">Read more here</a>

Elon Musk to donate ad revenue from 'X' to Israeli hospitals, relief work in Gaza  

Amid the ongoing Israel-Hamas conflict, 'X' owner Elon Musk has announced an initiative to contribute to the relief efforts. Musk declared on 'X' that he would donate all advertising revenue associated with the war in Gaza to hospitals in Israel and the Red Cross/Crescent in Gaza. &nbsp; 

<a href="https://www.wionews.com/business-economy/elon-musk-to-donate-ad-revenue-from-x-to-israeli-hospitals-relief-work-in-gaza-661432">Read more here</a>

Argentina's black market peso plummets as libertarian Milei secures presidential win 

Days after libertarian Javier Milei's triumph in Argentina's presidential election, the black-market peso tumbled by 12 per cent to 1,045 per dollar Tuesday. &nbsp;     

<a href="https://www.wionews.com/business-economy/argentinas-black-market-peso-plummets-as-libertarian-milei-secures-presidential-win-661403">Read more here</a>

Canada’s Fiscal Update: Higher deficits, slower debt reduction, and housing boost   

Canada's deficit spending will surpass March forecasts and the reduction of debt will proceed at a slower pace, the mid-year fiscal update by finance ministry said on Tuesday. &nbsp;

<a href="https://www.wionews.com/business-economy/canadas-fiscal-update-higher-deficits-slower-debt-reduction-and-housing-boost-661441">Read more here</a>

China's state banks drive yuan rally amidst dollar weakness: Report  

China's major state-owned banks have actively participated in the currency market, buying the yuan and accelerating its rebound against a weakening US dollar. &nbsp;   

<a href="https://www.wionews.com/business-economy/chinas-state-banks-drive-yuan-rally-amidst-dollar-weakness-report-661466">Read more here</a>

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'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. Read more here Baidu unfazed by US chip curbs, reveals chip stockpile amid Q3 revenue triumph   Chinese tech giant Baidu remains resistant to US chip export restrictions, revealing a substantial stockpile of artificial intelligence chips that will shield its business from immediate impacts.   Read more here Richard Teng is new Binance CEO amid regulatory changes As part of a comprehensive deal to settle a US criminal investigation against ex-CEO Changpeng Zhao, Richard Teng assumed the role of CEO at Binance on Tuesday.       Read more here Microsoft CTO offers matching compensation to OpenAI employees amid leadership issues   Microsoft's Chief Technology Officer (CTO) Kevin Scott has extended an olive branch to the disgruntled employees at OpenAI, agreeing to match their current compensation amid the upheaval following the sudden removal of CEO Sam Altman.    Read more here OpenAI, Microsoft face lawsuits over unauthorized use of authors' work in AI training OpenAI and Microsoft are confronting a new legal challenge as they are being sued over allegations of misusing nonfiction authors' work to train artificial intelligence models, including OpenAI's popular chatbot ChatGPT. Read more here Elon Musk to donate ad revenue from 'X' to Israeli hospitals, relief work in Gaza   Amid the ongoing Israel-Hamas conflict, 'X' owner Elon Musk has announced an initiative to contribute to the relief efforts. Musk declared on 'X' that he would donate all advertising revenue associated with the war in Gaza to hospitals in Israel and the Red Cross/Crescent in Gaza.   Read more here Argentina's black market peso plummets as libertarian Milei secures presidential win  Days after libertarian Javier Milei's triumph in Argentina's presidential election, the black-market peso tumbled by 12 per cent to 1,045 per dollar Tuesday.       Read more here Canada’s Fiscal Update: Higher deficits, slower debt reduction, and housing boost    Canada's deficit spending will surpass March forecasts and the reduction of debt will proceed at a slower pace, the mid-year fiscal update by finance ministry said on Tuesday. Read more here China's state banks drive yuan rally amidst dollar weakness: Report   China's major state-owned banks have actively participated in the currency market, buying the yuan and accelerating its rebound against a weakening US dollar.     Read more here

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.&nbsp;

Disney+ Hotstar smashes streaming records with 53 mn views during India-New Zealand match&nbsp;

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. &nbsp;

<a href="https://www.wionews.com/business-economy/disney-hotstar-smashes-streaming-records-with-53-mn-views-during-india-new-zealand-match-659545">Read more here</a>

Starbucks employees walkout on Red Cup Day, demand improved conditions&nbsp;

Starbucks employees at hundreds of stores across the United States walked off their jobs on Red Cup Day, which is a key promotional event for the coffee giant. The Workers United, representing over 9,000 Starbucks employees at approximately 360 U.S. stores, announced the walkout on social media on Thursday.

<a href="https://www.wionews.com/business-economy/starbucks-employees-walkout-on-red-cup-day-demand-improved-conditions-659568">Read more here</a>

General Motors workers ratify labour deal, UAW eyes similar outcomes at Ford and Stellantis

General Motors' (GM) labour deal with the United Auto Workers (UAW) has been ratified, marking a significant victory for workers. The approval comes after an intense six-week campaign involving coordinated strikes across all three Detroit Three automakers.

<a href="https://www.wionews.com/business-economy/general-motors-workers-ratify-labour-deal-uaw-eyes-similar-outcomes-at-ford-and-stellantis-659577">Read more here</a>

Alibaba cancels cloud computing spinoff amid US-China chip war&nbsp;

Chinese e-commerce giant Alibaba Group has abandoned plans for the spinoff of its extensive cloud computing business, dealing a significant setback to the company's recent overhaul strategy aimed at streamlining operations and revitalising its position as a market&nbsp;leader. &nbsp;

<a href="https://www.wionews.com/business-economy/alibaba-cancels-cloud-computing-spinoff-amid-us-china-chip-war-659601">Read more here</a>

RBI bulletin highlights inflation challenge despite boost in consumption

The Reserve Bank of India (RBI), in its November bulletin released on Thursday, cautioned that while there has been a welcome relief in retail inflation over the past two months, India is "not out of the woods yet".&nbsp;

<a href="https://www.wionews.com/business-economy/rbi-bulletin-highlights-inflation-challenge-despite-boost-in-consumption-659632">Read more here</a>

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'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. Read more here Starbucks employees walkout on Red Cup Day, demand improved conditions Starbucks employees at hundreds of stores across the United States walked off their jobs on Red Cup Day, which is a key promotional event for the coffee giant. The Workers United, representing over 9,000 Starbucks employees at approximately 360 U.S. stores, announced the walkout on social media on Thursday. Read more here General Motors workers ratify labour deal, UAW eyes similar outcomes at Ford and Stellantis General Motors' (GM) labour deal with the United Auto Workers (UAW) has been ratified, marking a significant victory for workers. The approval comes after an intense six-week campaign involving coordinated strikes across all three Detroit Three automakers. Read more here Alibaba cancels cloud computing spinoff amid US-China chip war Chinese e-commerce giant Alibaba Group has abandoned plans for the spinoff of its extensive cloud computing business, dealing a significant setback to the company's recent overhaul strategy aimed at streamlining operations and revitalising its position as a market leader. Read more here RBI bulletin highlights inflation challenge despite boost in consumption The Reserve Bank of India (RBI), in its November bulletin released on Thursday, cautioned that while there has been a welcome relief in retail inflation over the past two months, India is "not out of the woods yet". Read more here

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